My wife and I felt it was important to be able to exit the lifestyle when the time came. We put the money from the sale of the house away for that day.
After eleven wonderful years of full timing the time has come and we are now in the process of implementing our exit plan and are transitioning to snow-birding.
On the other hand we know a number of people who don't have much of a plan.
We have good friends whose plan is to go into assisted living in a place that takes their Social Security income for the rent when they have to leave the road.
They bought a new motor home in 2003 with a 20 or 25 year note. If they have to go into assisted living before it is paid for (very likely based on their age and health) they will let it be repossessed. Their thinking is that they won't need credit at that point anyway.
They wanted to full time so much that they took this route knowing there could be problems down the road. Basically they just don't think about the future because it is too disturbing to do so.
The only income they have is SSI and what they can make acting as gate guards. That means they are one sickness away from disaster.
The good news is they are living a dream they had for years before retirement and still loving it.
It appears to me that there is no one concept that fits everyone out there. Folks have to do what makes sense to them and if they enjoy it - good for them.