Retired married couples who travel full time - Expenses??

Question

Retired married couples who travel full time --- Expenses???

For those who have sold all and travel consistently throughout North America, enjoying freedom and seeing all that you ever dreamed about:

I am wondering what your monthly expenses were compared to home ownership?

Obviously, you don't still have some recurring bills (property tax, utilities & house maintenance), have new ones (fuel, travel clubs, park fees), and still have some that haven't changed at all (cell phones, health costs)

Are your expenditures more, less, or the same as when you owned your home.

We own our home, vehicles, and current RV outright and have zero debt.

DW and I have been RV weekend warriors for almost 10 years, with a couple of annual one or two week long trips that usually cover 500-1500 miles.

Some years, we've spent 35+ nights in our 32' TT, so we do have experience with 'short-term' RVing for the past decade.

I am a semi-retired home improvement contractor with an ungodly amount of tools who has upgraded, maintained, and repaired a ton of stuff in my past two TTs (Plumbing, AC capacitors, batteries/electrical, cabinets, brakes, etc.).

Fixing things does not intimidate me in the least as I usually just grit my teeth and say, “Game on!“.

Yes, I know about RV depreciation vs home price appreciation, but that is not a priority. I will take a hit to live life to the fullest before I am too old to enjoy it.

I am fine with buying a two-year-old rig and selling it after using it for hopefully a number of years before buying the house I plan to die in.

We'd love to sell everything, buy a completely different rig, and just travel full-time. Its been on on the radar for years now.

brianosaur · Answer

Not sure I am following you.&nbsp; How does NC property tax affect where you regi a RV?&nbsp; Or where I buy &amp; regi a RV may cause me to pay property tax x2?&nbsp; (Like house &amp; land property)&nbsp;Are you speaking of an annual 'luxury tax' in some states on cars,&nbsp; boats &amp; rv's?&nbsp; (Dont have that in my state so I'm not very familiar with it)&nbsp;

grit_dog · Answer

Great idea if you think you’ll like that RV life that much. Not so much on the “selling everything” part until you know you’ll be in it for the long haul.
Sure maybe dump the house if it’s the right time and decision, AFTER you know you’re gonna stick with the FT life for a while. (There’s more to it if your house is a major part of your assets and the right answer is different depending on location, size, the economy and future plans.)
Considering you’re planning to go back to stationary residence, figure out what belongings are worth keeping vs purchasing again, new, in 2,3,5 however many years. Then compare to the cost of a storage unit.
Things like soft furniture and linens etc ain’t worth saving likely or at least pare down to the min you’ll need in the future.
All other essentials, like kitchen and tools etc may be worth keeping. Unless you plan on living with a plate, a spoon and the few essential tools I’m sure you’ll pack with you.
And like many requests here, you’ll be able to project your monthly costs as well or better than others. Because only you know what you’ll be driving/living in and where you’ll want to stay. I go to campgrounds that are anywhere from free to over $100/night.
Short answer, this is your math problem to solve and getting the answer from the person next to you will most likely be the e wrong answer. Unless you’re not interested or able to do a little research and add up expected costs.

brianosaur · Answer

I dont mind doing the math work.&nbsp; Just wondering what other people who did it are paying out monthly.&nbsp; Im sure I would miss some expenditures in my estimate and hoping for some preliminary feedback.&nbsp;The house is prob 50% of my net worth and looking to buy the rig with that (after current rv, truck &amp; car sales) and invest the rest for dividends.&nbsp;Regardless,&nbsp; I will be moving to a state with a cheaper COL so even if in a year I buy another house and snowbird in my new RV for a few months at a clip, I would be content with that.&nbsp; What I don't want do is to feel compelled to get back to a home and perform maintenance on it.&nbsp;Right now I pay $12k/yr in property taxes, $3.5k in home insurance,&nbsp; and roughly $7k for utilities.&nbsp; &nbsp;($1900/mo)&nbsp;Not sure what the upkeep/maintenance costs are off the top of my head but Im sure add afew hundred a month.&nbsp;

way2roll · Answer

Been noodling on this myself as we look at full timing in the next few years. We do have close friends that started full timing this year and I have been doing some brain picking but they are still figuring it out so not sure how solid their numbers are. I will say your state of residence and where you register your RV matters. It matters from any income and property tax. As an example, my friends (against my advice) continue to keep their Rv registered in NC which is an expensive state for property tax. They have family in TX that I think would serve them well to register residency there. Point is, despite being full time, you still have to register a residence somewhere and evidence it. Stupid, but that's the law. Cuz ol man guvmint wants his cut. And where you buy your Rv and where you register it- if different may mean paying property tax 2x. Moving from MD to NC several years ago with a MH slapped me with the "welcome to NC" tax where I had to pay taxes all over again.&nbsp;

way2roll · Answer

To Grit's point, your budget is based solely on how you live, what you buy etc. One person might stay at State parks and be a host which makes their monthly campground stay $0. One person may opt for resorts and spend $3k a month. One person might move weekly but only 50 miles and another might move weekly and go 500 miles. Eat in, eat out, health care, clothing, etc. The point is, asking the question what other folks' budget is is like going around the neighborhood in a sticks and bricks development and asking what their budget is. Each one will be different. Maintenance costs are a total variable. You may have $10 in maintenance one month and the next the AC craps out. Put a spreadsheet together with known factors including your eating, clothing, entertainment healthcare habits are, with projected expenses for the RV, maintenance, campgrounds and fuel and compare to your income. Adjust as necessary.&nbsp;

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Retired married couples who travel full time - Expenses??

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