Leaving Illinois, going full time.

coolmom42 wrote:
I do have a couple of cautionary financial notes:

First of all make sure that you will not have to pay capital gains on the sales profit on your home. I don't know what the limit is in your state, but in some it's lower than the Federal limit. The Federal limit is $500k profit on a couple.

Without the RV option, you would immediately be re-investing your home $$ in another home. At some point, you will be past RVing and want a traditional home. But if you have spent a big whack of your home profits, you won't have $$ on hand to buy another one. You also can't sink those profits into a RV/truck combo, because those are DEPRECIATING assets. The smart thing is to invest most of your home sale funds in something fairly conservative, but with some growth, so you will be able to keep up with home prices and buy one when you need it. Something like a conservative growth mutual fund is a good option. I've read of a few people being caught with nowhere to go and it's not pretty.

Another big consideration is medical insurance. It's not trivial. One option is a health-share ministry, the drawback being that it won't cover pre-existing conditions for a year.

Sounds like you have a great plan and ability to earn a living almost anywhere you go.

Thanks. We believe we have the tax situation under control. We're liquidating 2 trucks to finance one newer used 3/4 ton. Something that has already depreciated enough to take the pain out of it. But worth enough to sell well when we want to go a different direction. For health insurance, we're probably going to go with a catastrophic plan, since neither of us have any chronic or preexisting conditions or ongoing medications. My family won't leave us with no place to go, while that isn't my "plan", it is a contingency. And an economic catastrophe big enough to wipe out either direction i could go would be big enough, I'd have other problems. We plan to modify or cease our plan if we dip below x dollars in savings. And give up the idea entirely at x dollars. I think about 75 to 80% of whaT I've planned will probably go out the window with the realities of the road. But as long as I have x in savings, I can always start over somewhere else. I'm also buying things I may need, but are easy to store and transport now, while I still have income. Like a 60 gallon soft tank for boondocking. I caught it on deep discount, so the investment was low, but the savings compared to having to buy one on the road when needed at full market price is huge..