My budget plan for full time RVing

[davismills]

Originally Posted by G-JLD9

I have been reading a lot about health insurance, and if we didn't have the benefits we have, the cost would be scary. At 800-1000 a month I don't think we could do it. So with Gary's federal retirement benefits we can keep our current health care plan (where the government pays a big portion of the cost) and pay the monthly premium of about 250 witch covers both of us. We can also change the plan during the yearly open enrollment so when we hit the road full time we and pick a plan that works best. He will also get his army reserve health benefit's at 60, so we are researching what Tri-Care will cost and cover. There is so much info out there I get over loading on researching stuff.

I bet after a while I will find something that brings some bucks in. Since Gary and I are years apart in age, I wont get my retirement checks for a while, so I better turn a wrench while I still can. Someone always needs some thing fixed.

We've used Tricare since I retired in 2002. It has been fantastic. I almost hate to see Medicare roll around as Tricare will become just a supplement.

[G-JLD9]

Originally Posted by cnocmmz

Hi...Seems like a pretty good plan; however, not knowing your finances I would rethink paying cash for the Rig??? With that kind of cash you have several options. I would personally finance the rig and depending on your credit go out 20 years and still keep it at 500.00 monthly or so. If you really enjoy it maybe then pay it off. If you don't, then either sell it/upgrade for later. Bottom line, cash is king and you may need it if things go bad...Just something to think about! Either way, best of luck

We like the feeling of not having any debt, but I understand what you mean about cash is king. So we will keep a good 50k in the bank for emergencies and repair parts. We can easily finance it if we chose to, (I keep eye balling building a new Dutch Star but that kind of payments keep me looking a used ones) but I looked how much interest we would pay if we took 100k out for 20 years at 3%, wow 33k in interest, not liking that.

By selling the house now, living in a DP and still working till summer 2019 we will save a bunch of money. So by the time we start rolling across the country we should have money for whatever obstacles my come.

Jen

[G-JLD9]

Originally Posted by computerguy

I don't know if that's a good thing - having debt. If things go wrong, the LAST thing you want is a bank to be able to force you to make decisions. Just my thought.

We don't think its a good thing either, so debt free is still the plan. But if a Dutch Star that we are head over heals about comes along, then we would finance what we needed to get it as long as by the time I quit my job it is paid off.

Jen

[G-JLD9]

Originally Posted by davismills

We've used Tricare since I retired in 2002. It has been fantastic. I almost hate to see Medicare roll around as Tricare will become just a supplement.

We are super glad we don't have the big heath care monthly premiums to worry about. I started doing some research on Tricare and kind of got confused reading about it at first. But we got 35 months to figure out what will work best for us and hopefully we are out there soon talking to people who are doing it now so we can get some good advice.

Jen

[marjoa]

Originally Posted by oakcreekeric

I would just like to throw this out there as "food for thought"... as I don't think anyone else has..

I see you're getting good advice on the monthly income questions/concerns.. but I noticed the above from your OP.. It is my feeling you should leave that $125 in the bank/investment.. I would think, with rates as low as there are, it would end up COSTING you money..

I know there is a strong feeling to have everything "paid" for.. but that is an emotional response.. I feel, these types of life decisions need to be approached with a keen business eye.. getting a loan at 3%, while your money is earning 10%, is a very smart plan.. plus, in the event you need cash for an emergency, you still have money to tap into..

I've read about putting a large enough payment down so that you can stay within an "equity position" on your loan.. Wouldn't it be a nice feeling to have money in the bank earning more interest than you're paying on the RV loan, while at the same time having the security of a rather large emergency fund to tap into.. call it being self insured..

Good luck and I wish you many happy miles ahead..

I total get your line of thinking but where do you get a large loan like this for 3% and earn a SAFE 10% in today's market? I under score SAFE 10% because that's what they'll need. Oh, and me too. These seem like unrealistic numbers. Help me understand please!

[flaggship1]

Originally Posted by marjoa

I total get your line of thinking but where do you get a large loan like this for 3% and earn a SAFE 10% in today's market? I under score SAFE 10% because that's what they'll need. Oh, and me too. These seem like unrealistic numbers. Help me understand please!

Yep. And anyway, leverage is a young man's game.

[vsheetz]

Yeah, show me a 10% return... for long term with safety and confidence it will happen.

[janniemac]

Please tell us where to get a guaranteed 10% return!

[CampDaven]

My cousin Guido gets 50% per week.
But his actual payback is only around 40%.
I made up to 17% when I was young and risky. No longer in THAT mode!
Now? I'm happy matching the annual COLA. (Just wishing)
Back on topic:
When folks go F/T, the budgets vary like a rainbow. We found our nitch. Everyone does.
Best wishes and happy trails

[rvethereyet]

when I saw ten% I said Huh? Where? Maybe by keeping your house. Renting it out. Financing the rv. Rent income $1000. mortgage on the rv $600. That is the safest return, but not all that safe. And there are string attached. Maybe that is what he was thinking. But like all of you I really want to know what he had in mind.

[Joe33305]

Originally Posted by RLTimblin

My wife and I are both on SS and live off about $3300 per month. We were both professionals and also owned (but lost) a ranch in Texas. We have been doing this for 4 years now. I would recommend you look into buying a used membership in Thousand Trails. We have the Elite Connection, which I would recommend. We live almost free and have been doing so for 4 years. We pay $522 per year for maintenance and must move every three weeks to one of our 90+ campgrounds. We do not pay for water, electric or sewage. Since we only travel twice in a month and most of the campgrounds are 300 miles or less away from each other, we can easily live off of what we make with a little going into savings for our next rig. Our largest expenses are food and medical. We were on the Affordable Care, paying nearly $900 per month but now on Medicare it has been cut in half with better coverage. Our groceries are about $600 per month and our gasoline is about the same. So between the three of those, we spend only half of what we make minus about $120 per month on insurance and of course incidentals. We try to save about $300 per month or better. Hope this helps.

How would I go about finding a "Used" Thousand Trails membership? Sounds perfect for me too.

[kerryvan]

Originally Posted by Joe33305

How would I go about finding a "Used" Thousand Trails membership? Sounds perfect for me too.

look here https://www.google.com/search?q=Thou...om%2Fforums%2F

[Joe33305]

Originally Posted by kerryvan

look here https://www.google.com/search?q=Thou...om%2Fforums%2F

Thanks, I'll check it out. Does anyone know of someone who has purchased TT used? What price range?

[computerguy]

Originally Posted by Joe33305

How would I go about finding a "Used" Thousand Trails membership? Sounds perfect for me too.

campgroundmembershipoutlet.com