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
Whether or not you are financially able is really dependent on the lifestyle you live and if you would maintain it. If you are willing, you can cut your expenses back to the extreme - boondock a lot, get an RV that uses less gas, don't eat out. Or you can go to the other extreme - stay in RV resorts, eat out every night, buy the biggest gas guzzling vehicle you can find.
Figure out what your base expenses will be, regardless of whether you are traveling: health and auto insurance, cell phones if needed, food, etc. Will your money last? Now figure out how much traveling will cost: gas, campsites, maintenance, etc. Inflate those numbers a lot to see where you end up. Our low end budget is $36K a year. Our high end, no expenses barred, budget is $61K a year. We figure, for us, it will fall somewhere in between. If it gets too expensive, we will camp host.
DH and I are 46. I retire next month and he retires in January. We will then hit the road. Our finances look similar to yours in three years but we have a lot longer before SS so a greater chance to blow through our money. But, I don't want to be old and sitting in a chair saying, "I wish we had done it." You only get one shot at life.
Figure out what your base expenses will be, regardless of whether you are traveling: health and auto insurance, cell phones if needed, food, etc. Will your money last? Now figure out how much traveling will cost: gas, campsites, maintenance, etc. Inflate those numbers a lot to see where you end up. Our low end budget is $36K a year. Our high end, no expenses barred, budget is $61K a year. We figure, for us, it will fall somewhere in between. If it gets too expensive, we will camp host.
DH and I are 46. I retire next month and he retires in January. We will then hit the road. Our finances look similar to yours in three years but we have a lot longer before SS so a greater chance to blow through our money. But, I don't want to be old and sitting in a chair saying, "I wish we had done it." You only get one shot at life.
