Real cost of full timing

TechWriter wrote:

mbrower wrote:

I don't know how long it will take to complete my bucket list but I want to allow at least ten years which means I need to be on the road by age 60

Where I call home for tax and health purposes has also been on my mind and I believe NC is not as senior friendly as other states so If any one can share some insight into calling another state home I would love to hear from you.

If you retire at age 60, you'll need 5 years of buying your own health insurance.

This could be a considerable expense -- far more than the $150/month you said you were spending now. BTW, your health declines as you get older.

The fact that you didn't know Medicare starts at 65 (not 62), want to keep you house (with all its incumbent expenses), and want to take a lump sum payout of your retirement fund has me changing my mind about your estimated budget expenses. I think you could be in for a bad surprise if you retire that early.

Thank you for your response. I have figured my home taxes, insurance, and electric into my budget and is not included in the 7k travel budget so I'm not sure what else I could be overlooking. As far as health insurance, I am worried a little about that. I have a HDHC plan
and have had it since they were made available around mid 2000's. With those plans you are allowed to save and invest money in a health care savings account much like a 401K, which I have contributed the max allowable amount. By estimate, I should have around 70K in the account at retirement. According to healthcare.gov, my premiums with subsidies would be around $250.00/month with max out of pocket of 13K. If I met out of pocket expense for 5 years that would only be around 59K. In the last 8-10 years I have only reached my deductible once so I think my odds are pretty good but then, only God knows.

As far as my retirement money I mentioned cashing out, this account is a benefit provided by the company I work for. It is not funded by me and could go the way of the dodo bird if the company decides to do away with it, which they say they have the right to do. They have quit providing that benefit to new employees two years ago. My options are to cash it out and spend or reinvest it. I can also draw a fixed stipend from it the rest of my life or until they decide to do away with it. I think I'm going to cash it out. What I do with it I'm still undecided but I like the idea of a new truck/RV.

This account is NOT my retirement account. Sorry about the confusion.