Cost of active full-timing lifestyle
I realize this question has been asked many times but each case appears to be unique so it is somewhat non-trivial to figure out the likely cost to do full-timing. Here's our likely scenario: - ...
Forum Discussion
Thanks for some useful comments and more questions. Here are some responses to the questions raised so far...
- We are going to be in our mid-50s. If we stay in Ontario 5 months per year, I believe our medical insurance cost will be significantly lower. I do need to research further into this though.
- That 5k budget does include expenses related to the MH and the toad.
- We would like to park the MH within the national parks whenever possible. But we do recognize that it may not be always possible so in such cases, we will find private RV parks and travel into the public parks during day time using the toad.
- Since we expect to stay in Ontario summer for most of the years (we can get exception in some years in which case, will not come to Ontario at all), we do expect to go across the continent every year. I expect to drive the MH at least 12k miles per year, plus at least that on the toad as well. Most of our kids are in Ontario but our eldest is now in Seattle, so we may end up visiting there every year.
- Work camp is not needed. Although we are full-timing, I'm still going to be working. I'm in a fortunate situation where I work for myself and only need an internet connection. Doesn't matter when I put the time so I can do it either early morning or evenings or even during the night. Does not need to be 8 hours per day either - I can ignore it for a week and it will be ok.
- We do NOT want to be in luxury RV parks. We are not into swimming pools, sandy beaches, nor casinos. Everything we need, is in the MH and the mountain hiking trails that are near-by. Oh yes, and the grocery stores for some food. :)
- When we are in transit that takes more than a day, we would like to try out Walmarts and alikes but we probably won't stay there multi-days at a time, just to save $$.
- We are debt free. The idea is to buy a used MH after selling our condo. The rest will be invested back. If we can sustain 5k/month, we will be able to save more money during the full-timing period. After 5 years or so, we can decide if we want to do it for another 5 years or find a land and build our little dream home on our suburb land which we will look for while we full-time.
- I put an artificial limit of 5k to get some idea what is feasible. My wife worked as a financial planner all her life so we are in an ideal situation to work out our future plans. If it turns out to be 6k/month, then at least I can find out what we need to sacrifice in the future up front, which is nice. We are both planners and I enjoy the process of planning. :)
- I didn't add depreciation cost into monthly expenses because of the simplicity of the calculation. These cost will (initially) be covered by the money from selling the condo and the rest will be enough to build our eventual (modest) house for our retirement.
- We are going to be in our mid-50s. If we stay in Ontario 5 months per year, I believe our medical insurance cost will be significantly lower. I do need to research further into this though.
- That 5k budget does include expenses related to the MH and the toad.
- We would like to park the MH within the national parks whenever possible. But we do recognize that it may not be always possible so in such cases, we will find private RV parks and travel into the public parks during day time using the toad.
- Since we expect to stay in Ontario summer for most of the years (we can get exception in some years in which case, will not come to Ontario at all), we do expect to go across the continent every year. I expect to drive the MH at least 12k miles per year, plus at least that on the toad as well. Most of our kids are in Ontario but our eldest is now in Seattle, so we may end up visiting there every year.
- Work camp is not needed. Although we are full-timing, I'm still going to be working. I'm in a fortunate situation where I work for myself and only need an internet connection. Doesn't matter when I put the time so I can do it either early morning or evenings or even during the night. Does not need to be 8 hours per day either - I can ignore it for a week and it will be ok.
- We do NOT want to be in luxury RV parks. We are not into swimming pools, sandy beaches, nor casinos. Everything we need, is in the MH and the mountain hiking trails that are near-by. Oh yes, and the grocery stores for some food. :)
- When we are in transit that takes more than a day, we would like to try out Walmarts and alikes but we probably won't stay there multi-days at a time, just to save $$.
- We are debt free. The idea is to buy a used MH after selling our condo. The rest will be invested back. If we can sustain 5k/month, we will be able to save more money during the full-timing period. After 5 years or so, we can decide if we want to do it for another 5 years or find a land and build our little dream home on our suburb land which we will look for while we full-time.
- I put an artificial limit of 5k to get some idea what is feasible. My wife worked as a financial planner all her life so we are in an ideal situation to work out our future plans. If it turns out to be 6k/month, then at least I can find out what we need to sacrifice in the future up front, which is nice. We are both planners and I enjoy the process of planning. :)
- I didn't add depreciation cost into monthly expenses because of the simplicity of the calculation. These cost will (initially) be covered by the money from selling the condo and the rest will be enough to build our eventual (modest) house for our retirement.
