“Money is the last thing you want to worry about when you retire, yet too many retired (and soon-to-be-retired) RVers face the prospect of outliving their earnings or compromising their standard of living just to get by. With the right planning, you can have the retirement of your dreams………………”Above quoted from Good Sam Highways “Commemorative” issue Nov/Dec 2000 that I came across in 5th wheel basement. Next years resolution ...clean out more often.

I am not sure anyone can ever be completely assured that they have saved enough. Too many unknowns in regards to health, how long you might live, and investments. Even traditional "safe" investments can be jeopardized if the economy were to collapse. I believe you have told your kids the right thing as far as saving as much as possible in a 401k. In retrospect though; I wish I had saved more in an after-tax account. I now have concerns about being taxed on the money saved. I knew it would happen, but chose to not be concerned when I was saving. That "nest egg" looks significantly less when considering those taxes. It looks even more grim when considering that our government may decide it wants more of that savings. Just my 2 cents worth.

richarfg wrote:I am not sure anyone can ever be completely assured that they have saved enough. Agree, I've never heard anybody say they saved to much money.

DH and I will be retiring March of 2015. He will be 54 and I will be 47.Best way to save for retirement is have the mind set... If we don't have cash for it, we don't need it. Someone who is starting in their 40s is way behind the game.We knew 15 years ago we wanted to retire early and Full time RV.We have lived well below our means for all those years, paid off houses early, and dumped every bit possible into DH 's 401k,I started an IRA, and we stay away from the stock market. Why be at the mercy of some hedge fund manager? Yes, we may have missed the market on the way up, but we also missed it on the way down. Create your own destiny. We had a goal and did everything in our own power to make it happen.We hope to live long enough to run out of money, in fact, we will be elated with that, and have plans for that also. We are going to have a hell of a great time while we are physically capable. In fear, life is only half lived.

Barring the unforeseen, a person will keep living longer as more and more new medical advances keep being discovered. In another 20 years who knows what procedures or pills will be available to extend life. I think with all that happening it's really tough to know really how much money you need.

path1 wrote:richarfg wrote:I am not sure anyone can ever be completely assured that they have saved enough. Agree, I've never heard anybody say they saved to much money.If my dad were alive he'd tell you he saved too much money. He died before he even touched one cent of his retirement money. My mother, his wife of 46 years, is using dad's retirement. It looks like his money will live on for at least two generations. Since we're all hoarders with money there is a good chance it will live longer.The longest living relative has been only 80 years old. Everyone else has passed away before 75. I'm planning on having a decent nest egg, but plan on living along the way as I am likely to die of cancer as both sides of the family are riddled with it, unless dad wasn't kidding when he told me I was the milkman's kid.

Planning for Full time Finances | Good Sam Community

goducks10
Explorer
Jun 30, 2014
Barring the unforeseen, a person will keep living longer as more and more new medical advances keep being discovered. In another 20 years who knows what procedures or pills will be available to extend life. I think with all that happening it's really tough to know really how much money you need.
Nutinelse2do
Explorer
Jun 30, 2014
DH and I will be retiring March of 2015. He will be 54 and I will be 47.
Best way to save for retirement is have the mind set... If we don't have cash for it, we don't need it.
Someone who is starting in their 40s is way behind the game.
We knew 15 years ago we wanted to retire early and Full time RV.
We have lived well below our means for all those years, paid off houses early, and dumped every bit possible into DH 's 401k,
I started an IRA, and we stay away from the stock market. Why be at the mercy of some hedge fund manager? Yes, we may have missed the market on the way up, but we also missed it on the way down.
Create your own destiny. We had a goal and did everything in our own power to make it happen.
We hope to live long enough to run out of money, in fact, we will be elated with that, and have plans for that also. We are going to have a hell of a great time while we are physically capable.
In fear, life is only half lived.
path1
Explorer
Jun 30, 2014
richarfg wrote:
I am not sure anyone can ever be completely assured that they have saved enough.

Agree, I've never heard anybody say they saved to much money.
richarfg
Explorer
Jun 30, 2014
I am not sure anyone can ever be completely assured that they have saved enough. Too many unknowns in regards to health, how long you might live, and investments. Even traditional "safe" investments can be jeopardized if the economy were to collapse. I believe you have told your kids the right thing as far as saving as much as possible in a 401k. In retrospect though; I wish I had saved more in an after-tax account. I now have concerns about being taxed on the money saved. I knew it would happen, but chose to not be concerned when I was saving. That "nest egg" looks significantly less when considering those taxes. It looks even more grim when considering that our government may decide it wants more of that savings. Just my 2 cents worth.

Forum Discussion

Planning for Full time Finances

About RV Tips & Tricks

Related Content

RV Financing & Full-Timers Question

Financing

Securing Financing on SSDI ,full time?

Motorhome financing

Financing