RV Trip Planning Discussions

Go Back   iRV2 Forums > RV LIFE STYLES FORUMS > Full-Timers
Click Here to Login

Join iRV2 Today

Mission Statement: Supporting thoughtful exchange of knowledge, values and experience among RV enthusiasts.
Reply
 
Thread Tools Search this Thread Display Modes
 
Old 05-16-2019, 01:05 PM   #1
Senior Member
 
Kahoona's Avatar
 
Join Date: Jul 2015
Location: Conch Republic
Posts: 559
Retirement planning help available for retired folks without a lot of money?

We are about to go full time. I am over my head figuring out a spending plan with all of the variables. I am trying to crunch the numbers to make a budget. We are debt free and can make it but just how to figure out the numbers is tricky. Questions like how to decide how much to take from investments since our income sources will fluctuate. Can we retire before my wife gets to full SS level and use investments and how to calculate that. Things that I can't find online. We don't want an expensive permanent planner. Are their institutions to help or department of ageing help?

Has anyone found any free advice for seniors or a way to get an hour or two of advice for a reasonable price? What was your experience?
__________________

__________________
A 15yo RV is like a Steam Locomotive. Run time/Maintenance is about 65/35. For every 65 hours in use it needs 35 hours of work.
http://i875.photobucket.com/albums/a...f.jpg~original
Kahoona is online now   Reply With Quote
Join the #1 RV Forum Today - It's Totally Free!

iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!

Old 05-16-2019, 01:13 PM   #2
Senior Member - DIYer
 
Waiter21's Avatar


 
Ford Super Duty Owner
Join Date: Nov 2014
Location: NW Ohio
Posts: 5,582
We crunched the SS and retirement Numbers.

DW and I are both in good health. I work at a job I enjoy and make good money.

DW will start drawing her full SS in a few months. I am eligible to draw 1/2 of her full SS, as long as I don't draw mine.

I'll continue to work and plan on drawing my SS in a couple years when I hit 70. I may even continue to work after that..

Between our savings and SS, we'll be able to continue our lifestyle. If I continue to work, that will be extra.
__________________

__________________
1999 Fleetwood Southwind 35S (Ford F53 6.8L V10 275hp 4R100 4 spd trans) - Toad 2003 Saturn Vue.
(www.1999Southwind.com)

It won't do MACH 2, but I can get a sandwich and take a pee.
Waiter21 is online now   Reply With Quote
Old 05-16-2019, 01:14 PM   #3
Member
 
cmac7203's Avatar
 
Join Date: Feb 2017
Location: Cottage Grove, MN
Posts: 39
Hey Kahoona,

We are in similar situation. We use the Personal Capital app. Itís F-R- E-E! It answered a lot of questions for us. Biggest thing for us was watching dividends and returns closely as we approach RMD age (required minimum distribution)...that will get you in trouble quick on taxes when you start drawing SS.

Best,

Charlie
__________________
Rockwood 2707WS
Ram 2500
cmac7203 is offline   Reply With Quote
Old 05-16-2019, 08:09 PM   #4
Senior Member
 
Barbaraok's Avatar
 
Alpine Owners Club
Join Date: Sep 2005
Location: Traveling in North America
Posts: 1,779
A few things to think about:

What is your family longevity like? If everyone dies fairly young, take SS as soon as possible.

Or if your health isnít that great, take early retirement and your SS as soon as you can.

Enjoy retirement while you are still able too, donít wait until body systems start to slow you down.

You can not will your SS to heirs, but they can inherit your IRAs. So think carefully about choices as to which to take. We took SS early and left the IRAs alone until we had to take RMDs starting at 70 1/2. In those years, the IRAs kept on growing and thus we have funds available for our twilight years.
__________________
Barbara & David O'Keeffe
Figment II (Alpine 2002 36 MDDS)
On The Road since 2006
Blog
Barbaraok is offline   Reply With Quote
Old 05-17-2019, 05:55 AM   #5
Senior Member




 
Join Date: Mar 2015
Posts: 1,655
We put all our retirement monies into Vanguard for them to manage. They take care of everything including the RMD distributions, taxes on the disributions etc. Took a few months to get the wrinkles out but now is running smooth as a clock. You can't beat Vanguard Fees.



Everything else we put in Ailiant CU. Simplifies life having 2 companies.
__________________
Sue and Tom

2015 Winnebago Vista 36Y
Sue46 is offline   Reply With Quote
Old 05-17-2019, 06:03 AM   #6
Senior Member
 
Join Date: Sep 2015
Posts: 434
Checkout er.org forum and bogleheads
Both have lots of great info
ransil is offline   Reply With Quote
Old 05-17-2019, 10:42 AM   #7
Senior Member
 
kf6ybl's Avatar
 
Fleetwood Owners Club
Workhorse Chassis Owner
Join Date: Mar 2016
Location: Anywhere, USA
Posts: 134
Personally, I advise rethinking getting a financial advisor. For us it's been the best investment we have made in ourselves. I found and engaged our advisor 2 years prior to retirement. We planned for me to retire early (at 56, but 36 years with same company). It was important for us to go fulltime while we still could (both in relatively decent health, but past major scares). Our advisor has made that happen, and amazingly enough still do well enough to continue this lifestyle, and not lose money even with the market ups and downs!
__________________
--------------------------------------------------
2006 Fleetwood Southwind 32vs
** Retired and full-time at last!
kf6ybl is offline   Reply With Quote
Old 05-17-2019, 11:01 AM   #8
Senior Member
 
450Donn's Avatar
 
Join Date: Jun 2006
Location: Dallas,OR
Posts: 3,141
Biggest expense for most retirees is health care. After that for full timers is camping fees. Depending on where you like to park that range feom zero to 75 dollars a night. Then comes the additional fuel costs. The full time RV lifestyle is not cheap. It can be made cheaper if you do a lot of camp hosting where camp fees become free. Over the 7 years we camp hosted that became the only way we could do it. You also need to understand your RV is a depreciating asset. Consider what ever money you spend to buy it your going to loose almost all of it at time of sale. You also need to have an exit plan with enouh money in the bank to live after.
__________________
Don and Lorri
2007 Dodge 3500 dually
Resident Dummy.
450Donn is offline   Reply With Quote
Old 05-17-2019, 11:45 AM   #9
Senior Member




 
Join Date: Mar 2015
Posts: 1,655
I would just use averages. Let's say you get in $12000 a year in dividends, that is $1000/month. Just plan on that and don't worry about the knits and knats.



We are fulltiming Social Security quite comfortably. Major items(surgery,unexpected RV) need to come out of savings. Gas for the MH if we do a lot of traveling needs to be supplemented. But we park for 5-6 months in winter and save money that way.
__________________
Sue and Tom

2015 Winnebago Vista 36Y
Sue46 is offline   Reply With Quote
Old 05-17-2019, 12:26 PM   #10
Senior Member
 
Join Date: Aug 2011
Location: Enjoying the Western States!
Posts: 8,289
At a retiree's age don't go with an advisor who wants to play with your money by buying and selling. You need to be very conservative and need to stress this with whoever you use. Vanguard is good for that.

A lot of full-time bloggers have a budget that they post. Naturally, it would be the same for everyone but you could change it to be geared for you.

You can cut down on funds in various ways....don't travel long distances all the time - sometimes we'd pick a state or two a season and explore them in full. Try your hand at dry camping - national forests or boondocking on public lands. This works well in the western states. A big way to save is to volunteer. National parks, state parks, Corp of Engineer, national forests - they will give you a free campsite and you'll be living amidst beautiful surroundings with ample time off to explore the surrounding area.

Your budget should include $40 to join the Escapees RV Club. https://www.escapees.com/benefits/ You can stay in their own parks very reasonably.

Best of luck to you in your new lifestyle. We loved it!!

Here's one budget which might help you to draw up your own. Note there's a link to Part II at the end of Part I.

https://wheelingit.us/2017/02/09/the...ng-your-spend/


and more: https://www.chickerystravels.com/ann...expenses-2018/

https://www.rv-dreams.com/fulltimingbudgets.html

https://thesimpleventure.com/much-cost-full-time-rv/

https://www.followyourdetour.com/the...ll-time-rving/
__________________
Full-timed for 16 Years . . .
Traveled 8 yr in a 2004 Newmar Dutch Star 40' Diesel
& 8 yr in a 33' Travel Supreme 5th wheel
twogypsies is offline   Reply With Quote
Old 05-17-2019, 01:19 PM   #11
Senior Member
 
Winemaker2's Avatar


 
Join Date: Nov 2006
Location: Western NY
Posts: 2,388
Quote:
Originally Posted by kf6ybl View Post
Personally, I advise rethinking getting a financial advisor. For us it's been the best investment we have made in ourselves. I found and engaged our advisor 2 years prior to retirement. We planned for me to retire early (at 56, but 36 years with same company). It was important for us to go fulltime while we still could (both in relatively decent health, but past major scares). Our advisor has made that happen, and amazingly enough still do well enough to continue this lifestyle, and not lose money even with the market ups and downs!
Agree
Many banks and Credit Unions offer a free or lo cost one time review and recommendations without any commitment to manage assets long term. Same w indpendant advisors or brokers like Vanguard and Fidelity. They can run numbers and scenarios to provide worthwhile insights. Worst thing to do is take advice from what others did and recommend too many variables and different situations.... no one right answer.
Having an analysis done periodically for info is worth paying for even if you dont have access to one of the free services.... at least IMHO
__________________
Don & Marge
'13 Newmar Ventana 3433 - '14 CR-V TOAD
'03 Winnebago Adventurer 31Y - SOLD
Winemaker2 is offline   Reply With Quote
Old 05-17-2019, 01:23 PM   #12
Senior Member
 
Join Date: May 2009
Posts: 2,696
Quote:
Originally Posted by Kahoona View Post
Can we retire before my wife gets to full SS . . .
If you're retiring before 65, then what are you doing for individual health insurance?
__________________

__________________
2001 Mountain Aire DP 4095 & 2008 Jeep Wrangler Rubicon
DISH TV for RVs
TechWriter is offline   Reply With Quote
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Now THIS is a lot of money... Scooter Just Conversation 12 01-24-2019 05:58 AM
Tuning a 2018-19 E450 V10 6spd- no exhausts available? Is SCT tuner a waste of money? Justins311 Class C Motorhome Discussions 20 10-14-2018 05:57 PM
New RV lot with NFL money Arizona iRV2.com General Discussion 21 10-06-2017 05:23 PM
Money Money Purplefans & Harvey Workhorse and Chevrolet Chassis Motorhome Forum 7 05-18-2011 06:52 PM

» Featured Campgrounds

Reviews provided by


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 01:25 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.