Don't Wait

[jplante4]

As an "older American", I am used to giving sage advise to the younger generations. I'm a flight instructor as well, and I get these kids with "shiny jet syndrome" wanting to learn to fly so they can fly an Airbus for American Airlines next year when they finish high school. I gently as possible inform them that that's not quite how it works.

I try to tell family members how important it is to have a nut for retirement because I can see how big a difference even our small 'nut' has made in our lifestyle.

I advise young pilots on the best way to build quality flight time so that an airline will hire you. Most don't listen (they already have it figured out) but the few that do listen have been very successful in aviation.

So it is with this mindset I advise everyone here, especially the lurkers trying to figure out if the RV lifestyle is for them,
DO NOT WAIT
The older you get, the harder this stuff gets. My favorite saying theses days - Things I used to do all day now takes me all day to do.

There are memories to be made and places you need to see. Finagle a way to do this as early in life as you possibly can.

[jplante4]

JoyNoelle wrote:
I have to weigh in. I am a 42 yr old single female. I wanted to RV but knew the funds would not buy new and flashy. Invested in a 1983 travel trailer that I remodeled on the inside and an older tow vehicle. Enjoying the life without killing the bank

This is what I meant when I said "finagle a way...", something else the younger gen doesn't get. You don't need a brand new RV and you can't forget about it like you do your Camry. There are precious few things that you can't do yourself. YouTube is filled with "How do I?" videos.

I could have bought a new Tiffin, but it would have drained the reservoir. I could have sold the big house and instead of no mortgage at the condo, I could have sold this old Sahara and bought a Foretravel. Being able to do some work yourself is great, BUT it's another one of those things that gets harder to do, and therefore harder to justify not paying someone else to do.

[dr3x]

Life has a way of putting Curves In The Road I say and it has become sort of my motto and daily way of life IF YOU WANT TO DO SOMETHING DO IT NOW

[WTP-GC]

Went to a cemetery yesterday to place flowers on my grandmother's grave. Just a quick stroll through that place can help your perspective. She died old, but that certainly wasn't the same for everyone. This grandmother (and my widower grandfather) gave us their TT when it was evident that they would no longer be using it. We've since upgraded to a 5er and travel as often as work and school schedules will allow.

I agree with the "don't wait" philosophy, but I also agree with living below your means. Problem is that some people's means are far less than others, and they try to keep up. We know many people who idealize the "how much per month" philosophy when determining how much debt they can leverage. We have our fun and make our trips, and we don't go hungry. In these times, though, many parents choose selfishly which leaves less funds for memory making. We don't consider travel-league youth sports to be worth anything more than an outlet to waste money and build ego's. We don't let ourselves get caught up with activities that enhance one child's fun over the others.

We don't have Union luxuries down here in FL (not mainstream anyway), and we don't invest in 401k's. That system has proven no long term success, and every year it becomes less attractive due to the tax code. We choose alternate investment strategies, but I'd agree that you must start young and invest smart. (I think 401k's might be/might have been a good strategy for those older than us, but not for my generation).

[junmy3]

We have a good friend that we met over 10 years ago, 5 years before we retired. He told us that you need to practice for retirement before it happens or you will run into problems. We took his advice and made as many trips as possible before we retired.
Year ago we met a couple camping in Indiana. One set of their parents had a dream of making a cross country trip, but kept putting it off. Finally in their mid 70s they were ready. Bought a MH, stocked it, and were ready to go. The morning they were to leave the wife died of a heart attack.
Don't put your dreams off.

[rickeoni]

I have seen it from both ends. We saved and skimped our whole lives, DW stayed home and raised the kids, we camped in a tent. Slowly moved up the food chain with a popup, kids grew up, got a TC. Then bang, DW got cancer and I lost my 35year job in the same summer. DW beat the big C, I got rehired by the new owners. The last stage made us rethink our lives, in with a new fifth wheel and newer truck. Going to enjoy life now because you never know what life holds for you around the next bend.

[Tom_Barb]

I believe in "to each their own" we started week ending on a motorcycle, and simply worked our way up.
We never risked our retirement funds on big toys.

[Old-Biscuit]

Mom handled the 'high finances' in our home...Dad was out busting but as a independent welder in the oilfields of WY/UT

Mom did something she taught me to do......when sitting down to pay bills 1st bill that got paid was one addressed to MOM & DAD

So when I starting working I paid that same bill each month to ME.

Then when I got a 'career job' I also took advantage of the company match program PLUS I invested 3% then 5% then 8% then 12% and finally 24% of my pay.
Retired at 50 yrs of age and then few years later we went FT in our RV.

Life threw a curve ball but HEY we got in 7 yrs before that happened.
Neither of OUR parents even got an inning.

As for that curve ball....we swung/hit it --- not out of the park but good clean whack on it so our next phase is ALL good.

[Ivylog]

I'm speaking to the local senior class next week about the importance of starting to save when young and the rule of 72. Little things like skipping two cokes or fancy coffees a day will save you over $1200/year. Not smoking two packs/day is $3600 at today's prices and will probably be $10,000+ before retirement. The only way to get ahead is to live below your means and saving the difference...starting when you are 50 will not work. SS is nothing but a Ponzi scheme so you need to pay/plan your own.

Fortunately I was taught the above when young plus my father said to get "lots" while young...real estate. Unfortunately he died when I was 23 but it made it clear I would not wait until I retired to travel. 50 states and over 75 countries later plus having owned many different used RVs... all were paid for in cash.and done on the cheap side. Many **star hotels and usually off season or a cruise in a cabin with only a window and a $0 bar bill. I'd rather go cheap and go more often... 55+ cruises but here again we started early.

In the last ten years it's been more RVing and Snowbirding although I usually work 3-4 months to help fund the travel budget each year. Also there is some satisfaction in showing 30 year olds they cannot out produce a 70 year old.

[Searching_Ut]

It appears many are seeing it as either wealth building, or fun and adventure. I'm here to tell you that you can have it both ways. Many of my fondest camping memories from my early years involve an old military surplus sleeping bag, visqueen plastic and clothesline to make a shelter out of and a coffee can for cooking with a handle made out of a coat hanger, and a very crude frame pack. Would spend weeks at a time backpacking with that setup. Later on added some simple climbing gear and checked out the Tetons from on top rather than just looking up in awe.

Via a military career, spent years living in and touring Europe, to include rail pass backpack trips in my younger years, Tip of Scotland to End of England bicycle camping, concerts, castles, bullfights in Spain, Kabobs in Greece, Octoberfests, medieval banquets, visiting every states and multiple countries, mountain tops for Mt Washington on the East coast To Whitney on the West, etc. etc.

Finally, having just turned 58 we are retiring to start Memorial day weekend, nice bank/investment balance thanks to living life within our means, a couple pensions, and the house and all the toys we owned outright. I totally agree with finding a way to do it now, don't wait. Having said that, there is a world of adventure to be had while still being smart and responsible when it comes to planning and saving for your future.

[tomman58]

Lwiddis wrote:
A number of union pension funds (and other funds) went bust few years ago. Not good to have all your eggs in one basket. Is your fund paying you based on current workers paying in? If so I'd be nervous..like SS.

First if you don't have a basket you are totally screwed anyways. Second our government has stolen billions from SS. If we can keep them at bay then the money that is being put in every day will be there for everyone. In fact had they not taken so much from our pensions would be much, much larger than today.

[MarkTwain]

JoyNoelle wrote:
I have to weigh in. I am a 42 yr old single female. I wanted to RV but knew the funds would not buy new and flashy. Invested in a 1983 travel trailer that I remodeled on the inside and an older tow vehicle. Enjoying the life without killing the bank

Good on you!!! I admire your creativity and willingness to risk.

[ken56]

Like any hobby, camping and RVing can be expensive.....or not. When one is young a tent, sleeping bag and a matt is all you may need to have a great weekend. The older you get and the more one desires creature comforts then it starts getting expensive.

Todays generation thinks they need the best of everything right now, the best paying job, the best home, the best cell phone....etc. They don't think they should start at the bottom and work their way up, I have a degree and I know everything so pay me what I think I am worth.... yeah, right. I have witnessed first hand with friends AND relatives the constant bail out over privelidged adult "children" reap from mom and dad. It is sad.

I have to agree with the OP...good advice. Learning to fly was one of the best experiences and accomplishments I ever achieved, although I don't fly any more. It is the same with financial disipline and prioritizing objectives in life. You reap the rewards of your hard work one step at a time. Life stages. Some finally get it, some don't. When mom and dad can't cut the apron strings they do their children no favor. Either swim or sink and pay the consequences of your actions.

[CavemanCharlie]

It's good advice.

But, be careful the things you do when you are young may come back to haunt you when you are old. Don't break any bones, do any major physical damage, or (most importantly) don't get into any legal trouble that will come back and bite you in the butt someday.

Also, it's hard to have fun with the family you have now if a large portion of your income is going for a child support payment to someone else.

Everything in moderation.

[Mortimer_Brewst]

I'm waiting for the "Wait Police" to weigh in on this.

[JoyNoelle]

I have to weigh in. I am a 42 yr old single female. I wanted to RV but knew the funds would not buy new and flashy. Invested in a 1983 travel trailer that I remodeled on the inside and an older tow vehicle. Enjoying the life without killing the bank