Community Forums

radar · 01-18-2016, 07:50 AM

We semi retired at 41 and bought our coach to last 25 to 30 years. Getting close to half way on that figure and don't suspect it will be a problem getting it to last 30 years. We have been full timers since day one but intend to be part timers by age 60 as we are getting ready to build a house in the next 4 or 5 years. Once we are fully retired our snowbirding locations will switch to europe so there will be less wear and tear on the motorhome. Good coach though. No problems. Just regular maintenance and renos.

milobramble · 01-18-2016, 08:39 AM

My wife and I purchased a used 2005 Fleetwood Terra 26y last year for our 25th wedding anniversary. The intent is for this to be our "practice" MH. We want to see what we like and do not like then when we retire in 5 years we will get just what we want and need. We will not full time it but living in Arizona my plan is to be north during the summer months.

MattTaylor · 01-18-2016, 09:20 AM

We are in close to the same situation as the original poster. I'm 50 and a retired Realtor as well as a 100% disabled veteran. My wife is the same age, retired from the military and will retire soon from a city job.

When we bought our 2004 Sightseer about 3 years ago we thought it was going to be our 'getting started' RV with an intent of buying new, right about now actually, but that has changed. What we've realized over the last 3 years after researching a bunch of new class A's getting ready to buy a new class A is that we bought our Sightseer in practically new shape, low miles, for a fraction of the new price. The generator had less than 100 hours on it and the V10 only had 28,000 miles on it.

What we've decided to do, rather than buying new, is to turn our already great RV into exactly what we want to live in. I've added --

- Safe-T=Plus steering stabilizer
- Solar Power System (excellent!!)
- Extra Propane Tank
- All lights are LED
- Changed out tube TV's

Things I will add over the next six months

- Composting toilet
- TurboKool Swamp Cooler (Fantastic fan moves to replace bathroom fan)
- Auto Generator Start

I've kept very good records on how much all of this has cost us. On July 1st we will roll out with our Sightseer fully paid for and setup exactly how we want it and we will have spent less than $45,000 total over a 3 1/2 year period to do it. Our goal is to be able to live for extended periods in remote locations without hookups, in that regard and many others we think our RV is even better than new, but of course we may be just a bit biased

ArmandV · 01-18-2016, 09:33 AM

I retired two months ago at 61. I will be 62 next month and Social Security will kick in shortly thereafter. I am great financial shape right now and in good health (knock on wood). After seeing how my parents really didn't enjoy retirement all that much due to health issues, I decided to [Moderator Edit] and leave the rat race now so I can enjoy my retirement.

I bought my 2015 Minnie Winnie new for cash and have paid off a lot of outstanding debts. At this point, this will be the last RV I'll buy, but you never know if I may change my mind. I am happy with what I've got.

UTTransplant · 01-18-2016, 08:18 PM

Looking at it from a purely financial view, it depends! :-) I just retired and my husband retired two years ago. We had the trailer we wanted (we have no desire to full-time), but wanted a new truck. I could have paid for the truck with the retirement funds, but I am actually making more on the investments than the percentage on the loan. So much depends on how much money you have, and it also depends on what interests rates do as compared to the investment rates.

We do anticipate that we will buy a DP at some time in the future, when DH has trouble dealing with heavy hitches. Since he is only 63, we aren't thinking it will be soon. However we have financial plans that could cover the cost in as little as 5 years, about the earliest we think it could happen.

Summary: Have a good talk with your financial advisor.

rapid rick · 01-19-2016, 02:45 PM

I retired 2 years ago at 55, no regrets. All I can say is use every bit of common sense when it comes to spending big money.I just attended the 6th funeral since christmas,a buddy died at 54 years old,right in my face life DOES NOT last forever,live it,while you can .

beamisl · 01-20-2016, 09:13 AM

Hello,

My husband and I bought what will be our first and only MH. It was used and we paid cash. I DO NOT WANT PAYMENTS when I retire. We looked long and hard to find it and almost bought another but so very glad we went with this one. Less than 19000 miles on it.

We plan to get new carpet, have to replace 2 windows, and want to upgrade the TV and Radio this spring. We are looking for a company now to do the work. Live in MI and want someplace within 4 hours drive to do this.

I guess you can plan and do all you can to make sure you have all areas covered but life often interferes. We want to travel and I retire in 18 months. Our first winter out of Michigan will be 2017. I look forward to it and so does my husband who is already retired.

You have to go with your best choice and if it turns out wrong then adjust. Nothing is permanent. Lynne

38Chevy454 · 01-21-2016, 09:36 AM

Mine will last me long into retirement, not quite retired yet. I bought what will work for longer trips and extended travel. I am similar to others, buy it now and not have any debt once retired, although I paid cash for my MH. Just replacing and building up the retirement savings now until retirement gets here!

AbdRahim · 01-22-2016, 12:08 PM

Bought the first after I retired. Never thought I would ever be able to afford one. Haven't specifically budgeted. In ten years I will see where investments are and determine if I can afford one more. If not I will make this one last as long as I can.Maybe another one in 15 years, maybe not.

okcnewbie · 01-22-2016, 12:31 PM

My wife retired at 50 3 years ago. We weren't totally prepared for that and I'm driving old cars and working a little OT to help out. We have lots of equity but are finding that equity doesn't necessarily help right now.

The good news for us is that by 2020 (when I can retire at 56) We'll have 2 rental houses paid for. We both worked for the government so health care is pretty good. My wife's SS supplement kicks in and we are going to be better off in retirement than before. I only plan on using the interest on my investments for the first several years. I'm a blue collar guy but we've always put money away and hope to make between 8500-10k per month in retirement.

Plan is to use the rental income to pay for a 100k DP if I can get the loan.

We have a older class C now with solar.

Roger G · 01-22-2016, 05:40 PM

I can retire now but I figure that as long as she is working, I owe it to her to keep working too. We are debt free but would probably borrow money if we bought new now, depending on interest rates and returns. By working 5 more years, I can save the money to pay cash for a diesel pusher in the 250-300 k range but my current RV will depreciate for five more years. I can trade now and get more for my present coach and pay less for a new one than I will in five years. I guess I'm over thinking this. The fear of the unknown and not having a steady income as a safety net is driving me nuts.

chuckster52 · 01-23-2016, 08:13 AM

Quote:

Originally Posted by Roger G

Did you budget for another RV in your retirement or did you retire with what you thought was your last RV? We are 51 and 50 and can retire from DW's job at 55 with benefits including access to company health insurance which is the deciding factor for us. We have a paid for 2014 gas MH now but ideally would like to have a DP when we really hit the road. I realize a gas coach will go anywhere a diesel will go but I don't see us living in this coach for the next 20 yrs if we live that long and decide to fulltime that long as well. We were discussing this today, do we buy our last MH now and get it paid for by retirement or do we sit pat and budget for a new DP or gas coach post retirement? Just wondering what other people have done and experienced. Thanks in advance.

Roger, I believe you've asked the questions we all have faced....but I'm convinced there is no one answer that would fit all the people on here who thought it.and as you see there was a varied amount of answers..as people have different bucket lists and DIFFERENT financial situations to live with in

We retired at 53 and am now 74..wow, has time flew,we sort of had an idea of what we wanted, but things change,family changed..daughter not married then, actually she started college day I retired.son had graduated 3 months earlier..no grandkids...now 4 great grandsons...9,9,7,3....was probably biggest game changer going..have bought 4 motorhomes since then...each was not planned and the last one....
Guess my advice would be;have a plan>write it down in the sand...not concrete..and as you go along adjust it to both of your wants and needs.....FLEXIBILITY I think is the key to live with in your own situation
I by the way....have in my plans, both bucket list and finances , to live to 100 yrs old

CHUCK

Dutch Star Don · 01-23-2016, 08:21 PM

"Roger G"......If you're looking for suggestions....here's mine. We bought a year old used gasser about 5 years before I retired. The intent was to use it until retirement and then buy a new DP. We hated the gasser (Fleetwood Terra) because it had the Workhorse brake issue and a badly designed toilet that plugged every time you used it. We sold it a year later and bought a new 2005 Monaco Diplomat. We kept that coach for nine years, 5 years before retirement and 4 years after retirement (retired at 55). Since most can RV to at least 70-75 years old, we decided that we didn't want to stretch the Diplomat out over another 15-20 years. We decided to buy at least one more new RV and hopefully keep it to 70 years old if our health holds out.

So, we kind of did what you're talking about doing, but would not be my recommendation. My suggestion would be to keep your 2014 motor home, save for a new DP and then buy one shortly after you retire. In retirement you can shop for what you want, take your time prepping it and making it your own. It will also be a viable unit for at least 15 years if you take good care of it.

Now here is the most important reason for following the above plan to buy after retirement. "Mr D" has been very open about buying a luxurious retirement RV and then his wife came down with cancer. I have a lot of respect for him because he openly discusses the situation, which may have helped many make a decision to enjoy life now! He may never know how many people have heard his story and stepped up their plans

So, with that said.....you have a good plan that will allow you to retire young and hopefully enjoy a long life, but I would wait until you retire, make sure nothing changes in your life and then use your current RV as a down payment on a new motor home. It will also give you five more years of technology.