Biggest Challenges

[paulbeauchemin]

Hi everyone

My wife and I are about to purchase a 5th wheel and a truck. We are selling our house in July and want to travel full time.

I'm curious for others experience as to what the biggest challenges/ problems full timers have. Like
- money/budgeting
-internet/cell service
-driving an enormous rig (never drove anything bigger than my Jeep Commander)
-purchasing your rig
-health care
-missing family

or anything else

I'd appreciate your feedback
thanks
Paul

[OutdoorPhotogra]

Captain_Happy wrote:
If your home is less then $250,000.00, there is no capital gains tax to worry about. I sold mine last year for a lot less then that. If you don't believe me go to the IRS web site and check it out for yourself. Like others have stated, if your younger then 65, health insurance is going to be your biggest monthly expense. Now if your over 65, no problem.

Make that less than $250,000 in capital gains. Home could be $750,000 if purchase price was $500,000 and no capital gains. But if you are close, did renovations, etc, definitely talk to a CPA.

[Captain_Happy]

If your home is less then $250,000.00, there is no capital gains tax to worry about. I sold mine last year for a lot less then that. If you don't believe me go to the IRS web site and check it out for yourself. Like others have stated, if your younger then 65, health insurance is going to be your biggest monthly expense. Now if your over 65, no problem.

[free_radical]

paulbeauchemin wrote:
Hi everyone

My wife and I are about to purchase a 5th wheel and a truck. We are selling our house in July and want to travel full time.

I'm curious for others experience as to what the biggest challenges/ problems full timers have. Like
- money/budgeting
-internet/cell service
-driving an enormous rig (never drove anything bigger than my Jeep Commander)
-purchasing your rig
-health care
-missing family

or anything else

I'd appreciate your feedback
thanks
Paul

If youve never drove a big rig,go test drive what you like,,
dont buy too big,,things like this may look great but seem way too impractical imo
https://youtu.be/elIaoSwk4v0

[2gypsies1]

Many folks sell their house. They invest the money for the future. Everyone is different. Many retirees don't want the big house and yard to take care for in later years and still many don't want to live in a harsh climate. Keeping a house is added expense and worry if you leave it vacant or if you have renters. Putting your furniture in storage is a big expense. Later on if you buy in a retiree community you can find many homes or Park Model trailers for sale that come completely furnished. If you've thought out your plans and you're both onboard for full-timing then go for it. It's a big weight off your shoulder taking off free with no baggage behind.

We had never heard of full-timing until our first winter travels. We talked to so many that were extremely happy. That spring we retuned to our 2500 sq ft lake house with a big yard and sold it and everything in it over the summer and never looked back.

Only those who have done it can tell it like it is. 🙂

[Deb_and_Ed_M]

Don't depend on an RV park for reliable wifi, unless you routinely wake up at 5 AM.... during prime time 9AM to 11PM, even if you're lucky enough to actually log on, you might get kicked off after a few minutes, to stop people from streaming movies, games, etc...

[Trackrig]

2oldman wrote:
I recommend NOT selling your house before doing this at least one year. I see too many people ending up disillusioned and selling nice rigs at a big loss.

Yes, this and don't buy new since you don't have RVing experience to know what you really want. What happens if in six months you don't like it, you don't have a house anymore and you owe way way more on that six month old truck and 5th than you can sell it for?

Secondly, buy a large enough truck, actually buy too much truck so that if you decide you don't like the 5th that you bought, and want a different one that just happens to weigh more, then you don't also have to buy another truck.

I think the old saying is you go through three RVs before you find the one you really want.

Bill

[Lwiddis]

2oldman hits the nail on the head again. Dip slowly into RV life.

[NYCgrrl]

I would sit down with a C.P.A. and figure out personal taxes before selling my primary residence w/ no immediate plan to buy another. Capital gains taxes can be gob-smacking if not handled properly.

[2oldman]

I recommend NOT selling your house before doing this at least one year. I see too many people ending up disillusioned and selling nice rigs at a big loss.

[2gypsies1]

paulbeauchemin wrote:
the biggest challenges/ problems full timers have.
- money/budgeting
-internet/cell service
-driving an enormous rig (never drove anything bigger than my Jeep Commander)
-purchasing your rig
-health care
-missing family

I'll try to put your list into my order by our experience:

1. Healthcare if not on Medicare
2. Purchasing the rig
3. Internet/cell service (that is reasonable in cost)
4. Budgeting
5. Missing family
6. Driving the big rig

Every person will have their own unique challenges. One size doesn't fit all.

Good luck! It's an awesome lifestyle that is worth some challenges. 🙂
They seem to get worked out gradually. There's a full-timing section on this forum that might help you answer some questions. Check it out.

[donn0128]

Yup! Finding a health insurance company you can aford and that will give you coverage in all 50 states is a biggie.
After that a decent exit plan is paramount. Being depreciating assets RVs and vehicles are horrible expenses.
Unless you have a lot of disposable income, you will want to figure out how to save money. Doing volunteer camp hosting can save you months of camping fees for a little work.

[Old-Biscuit]

Healthcare.....

If under 65 and not using Medicare then you will need to research medical insurance/coverage

And that will be tied to your 'domicile' state
Check out TX and FL for FT residency and medical coverage

If 65/older and Medicare then you have more options for 'domicile' state

Domicile state is your official residency where DLs, Vehicle registration (and Insurance), Voting, Medical and MAILING address will be.

Mailing address......
Via a mail forwarding service
SO go paperless as much as possible and switch to on-line banking

And downsize your stuff.
LESS is More

Have an 'exit' plan just in case you don't like FT lifestyle, you need to go stationary due to health reasons or family issues

[jmtandem]

The Escapees webpages are devoted to full time RVing issues. You might check them out.