How much $$
We are going to start traveling in the winter months nov-april but my wife is nervous about $$. We are both 60 we have no pensions but about xxxk in savings. I will work 6 months when we return each y...
Forum Discussion
With the information given the question can not really be answered. You say no pension, but you have xxxx number of dollars in the bank. Well that could be anywhere from $5 to 5 Million.
$1500 a month in payments can be a lot as one person said or not much to someone else. Without your entire finical situation thrown out there it's really not a question that can be answered.
I have spoken to people who really can't afford to own an RV and travel like they do, but they do and they will only realize that in the future.
If you HAVE TO WORK 6 months out of the year to afford to live, it might not be a good idea. If want to work 6 months out of the year just to cover all your travel expenses without dipping into your savings then it might be for you.
You should NEVER use your principal savings fund for things like traveling.
With no pension and at your age can you live without working? If No then you shouldn't be traveling for that period of time, let alone own a RV.
If you must work, do you have 1-2 years in an emergency fund? Do you have the money to afford those payments if you become unable to work? Could you pay off all loans with cash if you were unable to continue to work?
There are so many variables in this equation.
$1500 a month in payments can be a lot as one person said or not much to someone else. Without your entire finical situation thrown out there it's really not a question that can be answered.
I have spoken to people who really can't afford to own an RV and travel like they do, but they do and they will only realize that in the future.
If you HAVE TO WORK 6 months out of the year to afford to live, it might not be a good idea. If want to work 6 months out of the year just to cover all your travel expenses without dipping into your savings then it might be for you.
You should NEVER use your principal savings fund for things like traveling.
With no pension and at your age can you live without working? If No then you shouldn't be traveling for that period of time, let alone own a RV.
If you must work, do you have 1-2 years in an emergency fund? Do you have the money to afford those payments if you become unable to work? Could you pay off all loans with cash if you were unable to continue to work?
There are so many variables in this equation.