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 > Do we or don't we?

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philh

Belleville MI

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Posted: 08/13/19 06:48pm Link  |  Quote  |  Print  |  Notify Moderator

Short story, we bought a travel trailer and fell in love with a campground so much, we bought a park model, no note.

5 years later (right on my predicted schedule) we bought another travel trailer, no note.

Wife's health issue have been somewhat serious, mine haven't been a non issue either. She may be heading toward medical disability, it's that's serious.

I make a decent income, no pension or post retirement health insurance. Too little saved, but have some resources. Newer F150 and 2019 TT paid off. Generally marketable house mortgage about 1/2 paid off.

I'm currently 61.5, she's 56.

I'm tiring of work. I'm really good at what I do, so much so that my work load has doubled as some of my co-workers are failing miserably. Leaning towards working another year and just say, F* it and leaving.

Compounding the issue, if I had found this new 5th wheel. If had found this as recently a year ago, we'd probably have bought it instead of the TT... which is also going to require a LOT more truck.

1. Health insurance - solutions?
2. Financial - income is going to drop A LOT! Now what?
3. Homestead - giving up a homestead, where are we resident?
4. Loss on the new TT, but truck was bought used at a good price.
5. Can we truly live as nomads?

Suggestions, thoughts, honest opinions?

philh

Belleville MI

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Posted: 08/13/19 06:51pm Link  |  Quote  |  Print  |  Notify Moderator

dup post

* This post was edited 08/14/19 05:20pm by philh *

Lwiddis

Near USFS Glass Creek CG, Inyo County, CA

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Posted: 08/13/19 06:54pm Link  |  Quote  |  Print  |  Notify Moderator

You need to work at least to 66. “Tiring of work” isn’t a reasonable excuse. Save every dime you can.


Winnebago 2101DS TT & 2019 Chevy Silverado LTZ Z71, 300 watts solar-parallel & MPPT, Trojan T-125s. TALL flagpole for flags. Prefer USFS, COE, BLM, NPS, TVA, USF&WS, state & county camps. Bicyclist! 14 year Army vet - 11B40 then 11A - old MOS 1542 & 1560.


midnightsadie

ohio

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Posted: 08/13/19 07:13pm Link  |  Quote  |  Print  |  Notify Moderator

your@wifes health first period. time to think about slowing life down a bit.

sayoung

Tx

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Posted: 08/13/19 07:18pm Link  |  Quote  |  Print  |  Notify Moderator

If your wife must go on " SSI disability " would she not get Medicaid also ? You may have to stay on your job till 65 so you can get Medicare to replace your insurance unless you get VA benifit

TechWriter

On The Road

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Posted: 08/13/19 07:39pm Link  |  Quote  |  Print  |  Notify Moderator

philh wrote:


Wife's health issue have been somewhat serious, mine haven't been a non issue either. She may be heading toward medical disability, it's that's serious.

I'm currently 61.5, she's 56.

I'm tiring of work.

Compounding the issue, if I had found this new 5th wheel.

1. Health insurance - solutions?

You have 3.5 and your wife 10 years until you can go on Medicare.

If you quit work, you'll have to buy your own health insurance which is expensive.

At least wait until you can go on Medicare.


2001 Newmar Mountain Aire 4095 DP
Full Timer since May 2013
www.rvSeniorMoments.com
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DutchmenSport

On the road

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Posted: 08/13/19 08:46pm Link  |  Quote  |  Print  |  Notify Moderator

It's not something you can just jump into and do. You are doing the correct thing in attempting to evaluate your options.

But don't jump too quick. The benefits of reaching full retirement age and drawing full social security is much, much sweeter than all the restriction imposed on you if you draw earlier.

mikim

Rancho Cucamonga, CA USA

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Posted: 08/13/19 08:53pm Link  |  Quote  |  Print  |  Notify Moderator

I recommend that you sit down with a financial planner to help your sort through all of this. I agree that working until you are at least 66 would be the best thing for you. Ask, around for suggestions for a financial planner, or I have had pretty good luck with Charles Schwab. As far as investments/savings, you need to sock away 20% of your income into Index funds. I like Vanguard 500 Index fund or Schwab 500 Index funds.





valhalla360

No paticular place.

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Posted: 08/14/19 12:57am Link  |  Quote  |  Print  |  Notify Moderator

philh wrote:


1. Health insurance - solutions?
2. Financial - income is going to drop A LOT! Now what?
3. Homestead - giving up a homestead, where are we resident?
4. Loss on the new TT, but truck was bought used at a good price.
5. Can we truly live as nomads?

Suggestions, thoughts, honest opinions?


1. Go out and get some quotes.
2. You do have a household budget...correct? If not get on one now, so you have a good idea of what your expenses are and you can estimate future expenses better. (5th grade math, you can do it)
3. You are legally a resident of your last established residency until you establish a new one. If you are worried about mail, you can use a mail forwarding service.
4. Search for similar vehicles for sale and assume actual sales prices will be 20-30% below what they are listing (you might get more but you want to be conservative.
5. Sure...with the exception of your wife's condition. You don't need to share her medical details but if she's on disability, can she really handle the stairs and help you setting up the RV?


Tammy & Mike
Ford F250 V10
2008 Copper Canyon 5er
Catalac Catamaran 34'
Full Time spliting time between boat and 5er


js218

on the road

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Posted: 08/14/19 03:59am Link  |  Quote  |  Print  |  Notify Moderator

Retired at 55, check your finances. I'm 62 now been on the road since October 2016, but I still own 3 properties that I use as layovers. Most expensive item besides fuel is healthcare. Income for me is the assets acquired, while I was working , stock investment and whatnot. If possible try to retire debt free, I own everything zero debt an enjoying my retirement.


2017 Haulmark 45' Super C 600hp, 12 speed I shift transmission, tandem drive axles, 3 stage engine brake, towing 26' trailer with an 08 explorer inside.
Jim

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