Do I have enough saved to go full time ?
I know everyone's finances are personal, but I would like opinions if you think I have enough money saved. We have been pretty certain that we are going to do full time RVing, but after reading many f...
Forum Discussion
Not there yet but planning it in 8 years.
Our situation will be a little different than yours as I have a couple income sources.
$2600 a month in Pension, $130,000 in a secondary Portable pension we plan on using to buy the TH 5thW and Dually Truck with. Home we will sell along with the 401K will be the emergency fund, exit plan.
Wife will have a SS check for approx $1000 month starting the month after we retire.
We are going to hit it hard to increase the savings over the next 8 years and build the cushion a little bigger but it really all comes down to a couple things from what I have read here and at escapees forum.
Costs for Fulltiming vary from $1500-$2000 a month and up, depending on a bunch of differnt things.
How much do you plan on driving/moving? Fuel is one of the big three costs for FTing. The more you move, the more you will need for fuel costs.
Site rent/expenses- If your boondocking or workcamping and getting your campsite free, maybe even your electric free (solar), thats $300-$500 a month savings off the monthly budget. If your not, those are costs that are one of the big three.
Health care- There are very few good answers here other than shop around and find the best plan for your invidual situation. Having some health concerns makes taking a high deductable plan risky which is one of the few ways to save a few bucks here. It is what it is kinda thing.
My opinion is if I could Have what you have set aside in 8 years when I hit the road, I would feel pretty comfortable in that plan. You'll have a better idea after a year and like I said, making a decision to maybe spend a few months at some of the places you visit the first year will give you a chance to evaluate the costs and not eat up the funds too fast right away.
Good Luck, hope some of this helps.
Our situation will be a little different than yours as I have a couple income sources.
$2600 a month in Pension, $130,000 in a secondary Portable pension we plan on using to buy the TH 5thW and Dually Truck with. Home we will sell along with the 401K will be the emergency fund, exit plan.
Wife will have a SS check for approx $1000 month starting the month after we retire.
We are going to hit it hard to increase the savings over the next 8 years and build the cushion a little bigger but it really all comes down to a couple things from what I have read here and at escapees forum.
Costs for Fulltiming vary from $1500-$2000 a month and up, depending on a bunch of differnt things.
How much do you plan on driving/moving? Fuel is one of the big three costs for FTing. The more you move, the more you will need for fuel costs.
Site rent/expenses- If your boondocking or workcamping and getting your campsite free, maybe even your electric free (solar), thats $300-$500 a month savings off the monthly budget. If your not, those are costs that are one of the big three.
Health care- There are very few good answers here other than shop around and find the best plan for your invidual situation. Having some health concerns makes taking a high deductable plan risky which is one of the few ways to save a few bucks here. It is what it is kinda thing.
My opinion is if I could Have what you have set aside in 8 years when I hit the road, I would feel pretty comfortable in that plan. You'll have a better idea after a year and like I said, making a decision to maybe spend a few months at some of the places you visit the first year will give you a chance to evaluate the costs and not eat up the funds too fast right away.
Good Luck, hope some of this helps.
