Need for exit plan?
Article covers real life issues. Good article but not a happy subject. The asking price is less than what she owes on it. Her situation is not uncommon for seniors who buy RVs but find health issu...
Forum Discussion
2oldman wrote:
More important than an exit plan is an entrance plan:
a) don't wait until you're 65
b) don't borrow money to buy an RV
Money is 99% of any exit plan.
I totally agree. Too many people get hung up on the exit part of full timing. It is how you can financially start that will determine how easy your exit will be.
Even if your home isn't paid off, but you can sell it and your furnishings to pay for an RV plus be debt free, then you are starting out very good.
As long as you have some type of regular income and you don't rebuild debt you will start building a very nice savings account immediately.
Even if you could only save $15,000 a year, in 5 years you could possibly have over $80,000 in the bank. Maybe that "well used" RV could be sold for another $20,000. There are a lot of places you can purchase a decent house or condo for $100,000 in this country.
