4x4ord wrote:
Dutch_12078 wrote:
Bumpyroad wrote:
WyoTraveler wrote:
I had an exit plan and used it. I think everyyone should at least think about an exit plan. As we get older things just don't always go as planned. I've met RVers on the road with some sad stories. Mostly medical problems that really stopped their FTing. A fall back plan is not a bad idea.
yep, if you sell the house and 4 years later need to move back into one, your "investment" in the RV has decreased in value by 50% and the house has gone up 20%.
bumpy
A good exit plan involves investing all or most of the money from the house sale so it's still available when the time comes that you need it. In many cases, fulltimers coming off the road want a smaller home or other living arrangement where maintenance is less of an issue and the costs are lower than the previous S&B.
I agree with this idea but when I do a little bit of number crunching I come up with a pretty big number required before hitting the road.
A portion of house sale goes to be invested. Say 350,000
Cost of Truck and RV say 150,000
Investments to allow for a 60k per year lifestyle 1,500,000 if you follow the 4% rule.
In order for a couple to be able to afford hitting the road prepared for inflation and the ability to buy a condo when they return they would need a minimum net worth of awfull close to 2 million.
Although the numbers are what they are I am guessing many people are cheating somewhere and somehow getting away with it....or are they?
Spot on!!!! That's where we are. At this point we have the same budget mentioned. Currently figure 2mil in investments, 600k to start, house pays for RV which is ~$250K, house net ='s ~$320K. We retire @ 56 - $600K pays for retirement for say 9 - 10yrs or so, then the 2mil and SS and pensions kick in. IF we come off the road early, then remainder of house proceeds pay for new S&B and remaining dollars from $600K helps also.....BOY, it's fun to plan and dream of fulltiming. We figure we got 2 more years before the plan gets put in place.
Anyone else got something similar?????