Who Else Will Retire To Full-time In 2018?
I don't know if this will be a popular thread or a dumb idea, but here goes. I saw a post here recently (maybe two) where members said they plan to retire and begin full-time RV life in 2018. That's...
Forum Discussion
rockhillmanor wrote:
IMHO I would sit down and do the math on taking SS at 62. Do the financial figures and then sit back and think about if in 3 years if you SS will even be there for you. Seeing all what is going on.
Burning thru your savings and borrowing for all new TT and TV could be disastrous if you find you don't like fulltime RV'ing. Just saying.
My degree was in Accounting so I can and have done those types of analysis. It's true that I won't break even until mid-70s so if I die sooner I lose money. But I don't get to spend that money in the afterlife so it doesn't make much difference to me. My kids will have a little less money, but they are healthy and smart and hard-working so they will do just fine.
On the other side if I live into my 80s I may be happy to have that extra monthly income. As for whether the money will be there in 3 years, I put the likelihood at 99%. I trust my forecast in that regard, but you can make your own estimate. Seniors aren't going to stop voting. If there is another recession the government will just print a little more money. If there is a tremendous financial crisis there will be more cuts, but it won't go to zero. If we are destroyed in nuclear war or a meteor what difference does it make?
There is talk that in about 15 years the SS trust fund will run out, if Congress doesn't make changes. That doesn't mean SS payments go to zero. That means they would be automatically cut by about 25%. I'll still be happy to have 75% of more than 75% of less. But once again, seniors aren't going to stop voting. They probably won't cut current benefits; they will probably cut future benefits and raise the FICA tax. In other words, it's somebody else's problem.
There is one more reason that I like my strategy. Some seniors get senile or they make bad decisions and they lose a large part of their savings to fraud or, as I said, bad decisions. By waiting I am effectively converting some of my savings into a government-insured annuity for life. Something that (for the most part) can't be touched by lawsuits either. I like that. I still like my plan better.
