physical assets when full timing

[rockriver]

a nosey question... and the answers are in the "nunya" category.

so i expect some if not all answers to be vague!

i was reading a wonderful thread about folks selling out of their homes and rental properties and going full time. this thought came to mind...
what do folks do with their physical assets? collections? areas where they have put financial resources to offset future problems and money devaluations.

a couple of friends come to mind.
they are concerned about future devaluing of cash so they bought coins or guns or tractors or xxx (fill in the blank!) as hedges against inflation.

so, what has your third cousin done with his precious metals when he hit the road? i know some coaches have safes?
maybe the answer is... that is why they sold off the collection to be free of
the bind it has on them, and deal with inflation when it happens.

so maybe they put their money in annuities or brokerage account hoping to offset future inflation?

comments? suggestions? and if you have a safe full of diamonds or gold coins, hmm. i'm sure you'll be careful how you answer!

[Hit_the_Rhod]

That's what your KIDS houses are for! What you can't give away, pawn off on relatives, you store at your kids home. At least that's the plan. I'll let you know if it works in about 10 years!

[jbrv]

I always thought one of the greatest parts of the rv life is not being tied down to material possessions.

My money is much safer invested and managed by a professional than tied up in something physical i have to drag around with me or store and then go through the hassle of selling later when i need cash in hand.

[grindstone01]

These are all material things and you can't take them with you on your final journey. So don't get too attached to them. Cash is always easier to carry.
Generally, full timers are in the older age group and less concerned about asset growth like property appreciation. Heirlooms are going to the kids anyway, so may as well do it sooner.

[SuzanneH]

Yep passed on jewelry, heirlooms, paintings, etc... FREEDOM!!

[deandec]

We used Safe Deposit Boxes at bank.

[Mr_D]

Late wife bought Hummels, some 150 of them for her inflation hedge. The company is out of business and they are worth a fraction of what she paid. Now just trying to figure out what to do with them and the display cabinets. But she also put money in her company profit sharing to the tune of mid 6 figures. Also have IRA's.

[Scottybdivin]

Buy real estate. They don't make it any more and you can park on it.

[Gordon Dewald]

Originally Posted by Scottybdivin

Buy real estate. They don't make it any more and you can park on it.

Heard that in NY or some similar place they are taxing people out of their property.

[twogypsies]

Originally Posted by jbrv

I always thought one of the greatest parts of the rv life is not being tied down to material possessions.

My money is much safer invested and managed by a professional than tied up in something physical i have to drag around with me or store and then go through the hassle of selling later when i need cash in hand.

This. ^^^^^

Full-timers get rid of their accumulations in various ways and then they enjoy the freedom and relief of downsizing.

Quite often, the kids don't even want their 'stuff' - even heirlooms, antiques. They're just not into it like their parents/grandparents were. They are busy accumulating their own stuff.

[stepside454]

We learned about stuff the hard way . We where in a flood several years ago . Lost most of our stuff .
Turns out it wasn’t all bad

[Chinewalker]

Originally Posted by rockriver

a nosey question... and the answers are in the "nunya" category.

so i expect some if not all answers to be vague!

i was reading a wonderful thread about folks selling out of their homes and rental properties and going full time. this thought came to mind...
what do folks do with their physical assets? collections? areas where they have put financial resources to offset future problems and money devaluations.

a couple of friends come to mind.
they are concerned about future devaluing of cash so they bought coins or guns or tractors or xxx (fill in the blank!) as hedges against inflation.

so, what has your third cousin done with his precious metals when he hit the road? i know some coaches have safes?
maybe the answer is... that is why they sold off the collection to be free of
the bind it has on them, and deal with inflation when it happens.

so maybe they put their money in annuities or brokerage account hoping to offset future inflation?

comments? suggestions? and if you have a safe full of diamonds or gold coins, hmm. i'm sure you'll be careful how you answer!

Same here. No Safe Deposit Box for me. On top of that, my wife's weaving loom wouldn't fit. Or her hundred year old childhood piano she won't give up...

So we rent a storage unit. One 8' by 20' SeaCan in a gated lot of about 300...

No diamonds but I wouldn't want to travel with my coins and I cannot travel with the guns...

[Old-Biscuit]

Went thru our stuff and made 4 piles

STUFF WE wanted/going with us
STUFF WE thought we wanted/going with us
STUFF WE thought we MIGHT need/going with us
Everything else

Called up family.....check out the 'everything else pile'-----claim it/come get it by such & such date
Then called friends....SAME

Such & such date was when we had scheduled an Estate Auction
IF not gone by that date it was auctioned off

NOTHING went into a storage facility



6 mos later we went thru the STUFF and dropped off more stuff at various charities as we traveled.
If not used in 6 mos...didn't need it

6 mos later.......did the same again

After 1st year we had realized we didn't need very much stuff but the tried/true basics
After that is was 1 bag in 2 Bags OUT

Investment guru continued handling our monies....just like had been done for before
Proceeds from sale of house went into purchasing of truck/trailer and for 'EXIT PLAN'

7 yrs of FT traveling had to implement exit plan........and we are off on a different life adventure.

[ctpres]

At 78 I don't worry about cash loosing value!