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mbrower's avatar
mbrower
Explorer
Nov 22, 2015

Real cost of full timing

I am nearing retirement and would like to RV full time, traveling the country stopping no longer than 30 days in any one area. I'm not frugal but I'm not extravagant either. I don't want to spend my retirement squeezing every nickel until my DNA is permanently ingrained into Lincoln's head. I have crunched the numbers and I feel I would have around 7K dollars/month to start and 3% increase per year for the remainder of my life. These are before tax figures. I think that sounds adequate for a couple with no debt but I know things can add up quickly. I have no interest in working or hosting post retirement at this time so I'm not considering those options. I think I would just work another couple of years if needed. Looking for some real world guidance from people who live the life every single day. Any advice would really be appreciated!

I only want to retire once.

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  • TechWriter's avatar
    TechWriter
    Explorer
    Nov 22, 2015
    mbrower wrote:
    I have crunched the numbers and I feel I would have around 7K dollars/month to start and 3% increase per year for the remainder of my life.

    Yes, that sounds reasonable.

    BTW, be wary of the "race to the bottom" posters -- "I full time on 4K", "I do it on $1K", etc, etc. You've worked your numbers . . . trust them.

    A couple of suggestions . . .

    -- Do as much preventive maintenance as possible before you start. It's typically more expensive and chancy on the road.

    -- Will you have to buy health insurance on the road? If so, make sure this is in your budget with much more than yearly 3% increases.

    -- Don't rule out working on the road. We bought park model (a totally unplanned expense) our 1st year and the money we made work camping really helped to pay off the loan.
  • donn0128's avatar
    donn0128
    Explorer II
    Nov 22, 2015
    Depending on your RV type you can start budgeting at around 1500 a month for one, maybe 2500 a month for two.
  • 2gypsies1's avatar
    2gypsies1
    Explorer III
    Nov 22, 2015
    $7,000/month is very high. Most do it on much less.

    Start keeping track of what you spend now. You'll need to add some things and subtract some to get a good idea. If you're going to keep your present house or load your belongings into a storage unit then it can really add up. We sold it all and never regretted it. Most likely your food will remain the same. Full-timers aren't on vacation so you don't go to restaurants for every meal. You cook like you always did. What do you do for entertainment now? Will you be doing the same as you travel? There are lots of variances and it just depends how you want to live the lifestyle. However, you can do it much less than you have figured. Good luck!
  • JoeGood988's avatar
    JoeGood988
    Explorer
    Nov 22, 2015
    You can save thousands by looking into work camping...hours vary from 12 hrs a week to 40. There are a wide variety of positions available. State parks, National parks, BLM, regular campgrounds, fish & game, lighthouses and the list goes on. You can commit to 30 days to 6 months at a time...look into www.workamper.com

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