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Old 11-04-2014, 03:53 PM   #1
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Recently, my wife and I visited the Jamaica Beach RV park near Galveston Park. The park was great. It had all the amenities. Across from the beach, full hook-ups, swimming pool, hot-tub, and very clean bathrrooms. We loved it. But our 4 day stay ended almost as soon as we arrived and we had to may the 5 hour drive home back to Dallas. The striking thing I noticed at the RV park in Galveston was how long most of the tenants had already been there, and how much longer they intended to stay. Apparently most people down there rent by the month, not by the day like I do.
I like most everyone I know, am not retired. I work paycheck to paycheck, and I have at least 6 years before I can collect even partial Social Security. I have saved as much as I could afford with 401k and spent most of my savings on college for my kids. Some day I hope that I will have the financial abilty to stay on at least a two week vacation, but still I wonder how do these people make ends meet. Were they already financially set up, did they inherit big cash, did they have super retirement plans. Did they sell their houses and everything else accept for a travel trailer, a truck and a dog? I'm envious, but I just cannot see how these people make ends meet living on a social security check alone. Can anyone tell me it's easier than I think?
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Old 11-04-2014, 04:24 PM   #2
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My parents full time. They recently retired, collect SS, and have retirement plans from their jobs. Currently they have sold the house and are living month to month in Florida, since it is too cold up north. They are doing great financially. Dad and I discuss it regularly. The lot rent is $300 plus electricity, runs $50-90 monthly. Truck is paid off, trailer is new so they have that payment, but it is a primary residence, so the payment is low, plus they had a very nice trade in. So everything else is play money. The park has even asked if they want to work there part time to reduce the rent more. It can be done on a reasonable budget. Dad was really worried about it, but after 18 months at it, he is really liking it.
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Old 11-04-2014, 05:23 PM   #3
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Plan ahead. Save, put all or more than your employer matches in a 401k. Live frugally, take good care of your own health.
Just a few ways to prepare.
Don't plan on living off SS checks, look at it as a supplement.
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Old 11-04-2014, 06:01 PM   #4
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Ramen noodles.
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Old 11-04-2014, 07:35 PM   #5
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Ramen noodles.
If you live within your means you might be fine. To give you an idea the full timers at Pismo Beach, Ca. Pay 850.00 a month and that inc. electric,wifi,water,sewer, there are no other fees or taxes to be paid.
Another great one is at Premier RV Resorts and I think their at 5 locations in Or. One is at Newport, or. And their winter rates from Nov.15th to April 15 is only $325.00 a month + electric. And their restrooms are 5star. There also in Salem and other locations. The one in Redding. Ca.is $465.00 a month + electric. You can't live that cheap in your house,just my taxes are over $4.000 a year, home owners ins. Is $1.200 a year. Oh trash is also inc. in that monthly rate.
Remember you can be a work camper and it's all free and your looking at working about 20 hours a week.
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Old 11-04-2014, 07:56 PM   #6
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I have worked for 33 years and it will probably be 40 before I can semi-retire. I regret that I have not saved enough to live comfortably without counting on social security. I would love to be able to full time RV even if it meant part-time work. If living frugal is a requirement, I would be fine with that as well. Just for my information, how much savings should a person have if he starts this life as a full time RVer?
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Old 11-05-2014, 12:06 AM   #7
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Check out " Workers on Wheels" good info on it to pay your way.
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Old 11-05-2014, 10:03 AM   #8
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You have to start planning on retirement the day you start working. Unfortunately, most people don't do that. Fortunately, my company matched dollar for dollar in our retirement plan up to a certain percentage of your income. After 5 years they even matched 2 to 1! You can bet I put every penny I could into that. We were frugal those years and made everything count. Also luckily sold out the property we owned in Florida at the end of 2005 just before the market fell off! Managed to pay off everything in Florida, buy and pay off in Georgia, and put money in the bank. Good planning pays off but a little bit of luck always helps out too!
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Old 11-05-2014, 12:38 PM   #9
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Thanks for all the good advice. I am fortunately saving at a higher rate now that my children are grown and out on their own. I hope to continue to work for 6 years and provided I can hold the job I have, I should have enough to get by. I don't think I will be able to be on the road fulltime rv'ing without selling everything, but I should be able to manage at least two or three longer trips each year when the weather is good. The biggest obstacle I see is competing with the younger work force as I grow older. The field I work in, (engineering) is rapidly changing, and the new college graduates are trained in areas that didnt exist when I was in school. I have to mantain a level of competence and keep the checks flowing even when I see the end is coming. I am encouraged to see that some of you have found a way to live your dream.
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Old 11-05-2014, 12:56 PM   #10
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You don't spend saved money. You put saved money to work and live off what it makes. If you spend it, it's gone. What you should do today is find a good financial planner and get some advise worth paying for. Free advise on retirement planning is worth what you paid for it.
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Old 11-05-2014, 01:48 PM   #11
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Financial Planners usually have high minded ideas about how much you need to have accumulated in order to get by on the interest or the return it may bring in. Lets just say I have $500,000 at retirement. I may have more, I may have less. Will the return on this money be enough to live on. A financial advisor will tell me no, but I'm betting it will, if I live frugally and adjust my lifestyle accordingly. It may mean I do absorb some of the principal in my final years but so be it. I don't plan on leaving a big sum to my children. They must make their own money.
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Old 11-05-2014, 01:58 PM   #12
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...I don't plan on leaving a big sum to my children. They must make their own money.

This is exactly what my brother and I told our parents. YOU earned it. YOU spend it.
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Old 11-05-2014, 03:11 PM   #13
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Financial Planners usually have high minded ideas about how much you need to have accumulated in order to get by on the interest or the return it may bring in. Lets just say I have $500,000 at retirement. I may have more, I may have less. Will the return on this money be enough to live on. A financial advisor will tell me no, but I'm betting it will, if I live frugally and adjust my lifestyle accordingly. It may mean I do absorb some of the principal in my final years but so be it. I don't plan on leaving a big sum to my children. They must make their own money.
You are not going to get by on interest but you can get by on ROI.(return on investment). Some years you might need to draw down here and there but most years you will be adding to the overall investment pot. 500K is a very good start on a plan.

Have you considered inflation in your plan to spend your money? What will the light bill be 10 years from now?
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Old 11-05-2014, 04:55 PM   #14
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You're correct, inflation will be a concern. There are other concerns as well, such as having to pay for some type of healthcare. My company picks up most of the tab for that now, but I have high blood pressure and the medication I take isn't cheap. Obvoiusly, I have not covered all my bases yet.

Still, I appreciate all the advise I have received from our group.
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Old 11-05-2014, 05:00 PM   #15
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Health insurance is my biggest concern since I am self employed. Its been rising 10-20% per year so I may never be able to fully retire or at least until Medicare kicks in.
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Old 11-05-2014, 05:09 PM   #16
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Maybe, that's the answer; just keep working. Meanwhile, I can put in for as much and as long a vacation as I can get. Of course, I will need to come back before they decide they can do without me on a permanent basis.
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Old 11-05-2014, 06:00 PM   #17
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We also plan to retire in the next 6-7 years. We are past weddings and college which is a good feeling. We will most likely sell the house in the next few years. Our plan is to travel for the first few years of retirement. We currently have a 2014 Jayco 29REKS which we use as seasonal campers in Cape Cod.

We are doing our very best to save save save.... for our retirement. While medical is the trump card we are trying to plan for that also. If all goes as planned, I will be 62 and hubby 60 when we retire.
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Old 11-06-2014, 07:40 AM   #18
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I have been retired now six years. One important thing is to plan ahead and have everything payed off no bills. We have traveled every year in the winter three years to RGV in south Texas and the last three to AZ . The longer you stay at a park the cheaper your lot rent is . Also the more a park has the more it cost.we find out west nice parks around $350/$450 average Florida much higher. Some of our full time friends work at Amazon for two to three months a year to supplement their income . No matter how you look at it its a great life.
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Old 11-06-2014, 08:58 AM   #19
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Consider this: Your best earning years might be those between say 55 and 66, they were for me. If you were to decide to live those years as lean as possible you could set yourself up in a much stronger position.

Another key is health and fitness. You need to consider that it's much more important to take care of the body as the years add on.

Make a plan to be the best you can be in both of these areas.
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Old 11-06-2014, 12:33 PM   #20
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Very good advice Eldermike and hope you are right about those years as I am 56 years old, and I do need to plan ahead and work on my health.
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