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Old 05-16-2015, 07:49 PM   #1
larry337
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Which costs more: Full-timing or Stickhouse?

You folks are very inspiring! I'm 52 and cannot retire until I'm 62. I've always wondered how much I'll still be capable of at 62. I want so badly to enjoy my retirement. Thanks for sharing your awesome stories. If I may be a little nosy, I have a question. I see the prices of fuel and campsites. How much of an annual income at a minimum to full time in your opinion, and how much to be say a little more comfortable. If anyone doesn't mind answering. We save a ton in our 401's, I will get an OK pension, and of course our SSI. We will be just fine living in a stick home but I feel like full timing would actually cost more? Right or wrong?
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Old 05-16-2015, 08:08 PM   #2
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I don't think there's a "right or wrong" answer to the question, "How much does it cost to full time?"

Some people do it in a Cougar, some do it in a DRV, some have a 5 year old truck, some buy a new one every year, some stay in "RV Resorts" some stay in WalMart parking lots and State Parks. Some have expensive medical requirements, some don't even take aspirin.

So, it's pretty difficult to say what income level it "takes" to full time in retirement.

I will say that after I retired, my "expenses" related to work dropped tremendously. No more suits, laundry bills, no entertaining after work, no more (or fewer) cash pools for someone's baby, shower, wedding, birthday, holiday, retirement, vacation, promotion, (the list goes on and on). We could, for the most part, pay for a monthly RV site in a "average campground" with what I was spending on the extras at work. But not everyone does that, nor would everyone want to stay put in one place for months at a time, so there's too many variables to put a specific dollar amount on the cost to live either in a S&B or an RV.

We were surprised on just how much "less" we actually spend monthly than we thought it would take, but that's not to say that the next person to respond might believe it takes 3 times as much "just to survive"......
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Old 05-16-2015, 08:20 PM   #3
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I agree 100%. I know it's a tough question. Let's assume a debt free truck and camper, regardless of value, and somewhere in the middle between Walmart and a luxury resort. We like state parks and are fine with them. Maybe spoil ourselves once a year in a nice place. And leave Healthcare out of the equation for now, does that make it easier? 35k? 50k? More to do it right? Does it cost more or less to full time vs living in an average stick home? There's no right or wrong here, just opinions. We're capable of living simple, eat in, occasional meal out. We spend a lot now but that's because we can, we've always been able to tighten up when necessary pretty easily. We started with nothing 32 years ago lol.
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Old 05-17-2015, 06:21 AM   #4
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Look at it this way, you have a debt free truck and camper, you don't pay property tax, you don't pay utilities, many fairly nice parks will set you up for a month somewhere between $500-1,000 per month. You can move as often as you like or can afford.
You could also look into the camp host program. There are internet sites where you can sign up to be a camp host. They list the locations and available dates. Some people move around from park to park, others will set up in one place for several months. Most places allow you to stay free in exchange for being the camp host. Typically you have to clean bathrooms/showers and a few other small maintenance items.

So there are so many different variables that can be considered, I guess you can say there is a plan for about any budget.

We don't full time yet, but we have looked into it extensively and are ready to go once the nest is empty.
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Old 05-17-2015, 07:28 AM   #5
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I think the others have pretty much hit the nail on the head. How you live, and at what level, is up to you. Make sure you make a list that separates "wants" vs "needs". Make sure the needs are fully funded for perpetuity and the wants are funded as you can; that will set your income thresholds. I would suggest finding a very good financial adviser to help you make the plan.

As far as s&b vs full timing; I think that is a very personal decision you and your wife have to make. My wife told me upon retirement at 55 that there would never be a day that she did not keep the last s&b we built; she would not live full time in an RV (or mobile home) or want to mess with one. The kicker to that is that for our plan to be viable our properties had to be paid for...and all of them were which sure makes the equation look different. Only you know your financial situation and your needs. Obviously everyone has their own opinions about how they want to do things - this was just our personal journey.

Bottom line is that you could probably full time on your SS alone depending how much that is, or, you could require 100k a year or more depending on your spending. I know that is a very wide range but the variables to your question are endless.
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Old 05-17-2015, 03:47 PM   #6
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We have talked about it but, really never put the costs to pen and paper. I think traveling daily or weekly would be to much cost for me. I like the camp host idea and would try to move from point A to point B several times a year and camp host at least part of that time. Think about areas besides campgrounds to host or camp in exchange for staying. Example in Oregon the state wildlife areas have free stay for mowing, emptying trash cans etc besides cleaning toilets. Limits on those are 6 months.
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Old 05-17-2015, 04:07 PM   #7
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As others said, tough question. For those of us with a mortgage the equation is very different. If I could sell the house and clear a profit, pay a few bills and get rid of some taxes and insurance that would be great. Currently for us it is too early to think about but down the road we will see what works.
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Old 05-17-2015, 04:55 PM   #8
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Agree with all above. To clarify, I didnt start this thread lol. I was commenting on another thread, just making conversation, and a moderator decided it was too far off topic and spun it to its own thread. It's all good.

If I wait till I'm 62 and do it the right way, I could keep a house and just snowbird in the winter. In my wildest fantasies I would quit at 55 and live off our 401k's until 62, thereby draining them, and live off my pension and SSI after that. I already have a financial planner who handles my IRA and I couldn't ask him about that without sending him into cardiac arrest! But doing so would also mean selling everything and living full time in an RV, which I'm not sure were even cut out for. And obtaining healthcare is always an issue. If I retire normally I can continue it very reasonably until medicare kicks in but probably not if I just quit early and freeze my pension. But it would be nice to not have to go to work everyday. And I would hate to wait, retire with money but not have my health. Again, just making conversation and all opinions are welcomed!
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Old 05-17-2015, 05:57 PM   #9
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I know that is a very wide range but the variables to your question are endless.
Yes, the variables are not only endless but they also vary with each individual. There are as many "right answers or wrong answers" as there are members on the forum. Is it more expensive to full-time? Who knows? It might be for X, Y and Z but not for A, B, and C.

Everybody's present and future financial status is different as is our health and medical issues. People's lifestyles are as unique as their wants and needs. Even the type of RV you have now will determine, to some extent, whether living in it full time is something you can "handle". You may have visions of being a full-timer but does your wife or husband share those dreams?

An interesting discussion indeed but one without any answers.
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Old 05-17-2015, 09:07 PM   #10
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What one uncle did was rent out his paid for stickhome and full timed for around 10 years until the driving a MH pulling a car was to much for his age. He moved back into his home and got the best of both worlds in my opinion.
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Old 05-18-2015, 07:47 AM   #11
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I agree with all the above. But I think you said you could sell everything and live off your Ira. Everything we own is material things we all can live with less. If it's your dream to go full time at 55 go and live the dream. We all get only one chance in life. We all talk about waiting till 62 and hanging on to our homes if we would need them. I feel it just a worry meant, take a chance in life live the dream while you can.




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Old 05-18-2015, 10:24 AM   #12
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I agree with the above. The only answer is "it depends". Living in an RV could cost more or less than your sticks & bricks house. The biggest direct costs for RV'ing are your fuel costs and your campground costs, Folks who move locations frequently and travel all over the country spend a lot more on fuel. Folks who stay in RV "resorts" and pay by the night spend a lot more than folks who stay in state/federal campgrounds, or use lower monthly rates or boondock or workcamp for a free site.
If you want averages that may or may not apply to your specific habits and preferences, We took informal polls in several fulltimer groups and forums, and the current avg for total annual expenses was around $36,000. That means many were below that avg and many were above that avg. Some folks I know live on only $1200 per month SS check, but their RV never moves. Others like me spent $5000 a month, but I have lots of expensive hobbies in addition to RV'ing. I retired at 60 and my only regret is not doing it sooner.
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Old 05-18-2015, 12:05 PM   #13
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What one uncle did was rent out his paid for stickhome and full timed for around 10 years until the driving a MH pulling a car was to much for his age. He moved back into his home and got the best of both worlds in my opinion.

That's something to consider. Rent property for 12 month lease at a time and then a person could full time on a year by year basis to see if they like it. Of course renting out ones home brings a lot of other potential issues into play, but at least it's an option
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Old 05-19-2015, 07:06 AM   #14
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That's something to consider. Rent property for 12 month lease at a time and then a person could full time on a year by year basis to see if they like it. Of course renting out ones home brings a lot of other potential issues into play, but at least it's an option
I can't afford to rent my home to go RVing. The last time I rented it out cost me $10k in repairs for a renter that was there 2 years. I did collect $30k in rent and did get my money out of him after taking him to court so I guess financially it worked out. For peace of mind, NEVER AGAIN!
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Old 05-19-2015, 07:50 AM   #15
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x2 what bsmith0404 said. I tried renting one of our houses once.....only once. I am the wrong type of personality to try to rent to someone and not be worrying constantly. I also believe that if a person is renting from me that my property comes back to me in as good a shape as I rented it out - won't happen. And as bad as I hate to say it, the general population has less and less respect for others property as each day goes by. Won't do it again.

We close up our houses when we leave, leave all the utilities on, set thermostat at whatever it needs to be, turn off the water to the house and have lawn and garden people take care of the outside. When I return that new coat of paint I put on is still new; not covered in crayons with holes in the wall.
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Old 05-19-2015, 08:40 PM   #16
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When we were full-timing, it cost us less than s&b, even including doing it while diesel prices were at an all time high. I think a major part of that was because we weren't constantly remodeling, buying stuff for the house, taking care of gardens, lawns, etc. You can't just go out a buy something because you have to know where it is going to be stored! No property taxes, huge a/c or heating bills. BUT, and it is a big BUT, our truck and fiver were paid for. Given another five years on the road and we may have been looking at a new truck or trailer and that would have changed the equation. And after the first year on the road we tended to stay for extended times to get lower rates. If you always stayed at fancy resorts and moved every few days then your costs RVing would go way up. So it's a tough question to answer...just too many variables.
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Old 05-25-2015, 05:02 AM   #17
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just a note larry, when you collect SS it won't be SSI, SSI is another social program

we live full time and we spend about $5K a month on ourselves. we live well and are physically traveling so our fuel costs are higher than someone who lives in one or two places a year.

and we go out for dinner and drinks probably more often than most people.

we have no debt and no home other than the trailer. our medical insurance is medicare and bc/bs which my previous employer pays the premimum on that. we are residents of south dakota where there is no income tax and lower insurance and sales tax. http://mydakotaaddress.com/
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Old 05-25-2015, 06:42 AM   #18
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What one uncle did was rent out his paid for stickhome and full timed for around 10 years until the driving a MH pulling a car was to much for his age. He moved back into his home and got the best of both worlds in my opinion.
And then he didn't lose the appreciation on the value of his home. The RV doesn't appreciate during the full timing period, but the s/b will....usually.
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Old 05-25-2015, 05:55 PM   #19
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just a note larry, when you collect SS it won't be SSI, SSI is another social program

we live full time and we spend about $5K a month on ourselves. we live well and are physically traveling so our fuel costs are higher than someone who lives in one or two places a year.

and we go out for dinner and drinks probably more often than most people.

we have no debt and no home other than the trailer. our medical insurance is medicare and bc/bs which my previous employer pays the premimum on that. we are residents of south dakota where there is no income tax and lower insurance and sales tax. http://mydakotaaddress.com/
Good stuff. Thanks everyone. 52 now, at 62 I can retire with health insurance and a fixed income of about 50k, not counting 401k's/IRA's so we will be set up pretty good. Could keep a house and an RV. At 57 I could basically quit, with no health insurance and live off the 401k/IRA until SS/pension kicks in, but not have both. If I'm wrong and don't like full timing I cost myself a lot of money (It wouldn't be drained but consider 5 years of spending vs 5 years of compounding interest) . If I wait and don't have my health then what good is the money? Oh well, just thinking out loud, maybe some unforeseen event will make the decision for us. Sure would be nice to not have to go to work everyday!
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Old 05-26-2015, 09:13 AM   #20
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I think you are pondering what I figure all of us do at your age. And, yes, something might come along that makes the decision for you; it did for me, out of the blue and financially set us up (merger/acquisition then an IPO).

Health and longevity questions will persist even after you retire; you just have to make the best decisions you can. Some suggestions:

1) Retire at 62 if you can and pull your SS. Many preach against this but you need to crunch the numbers for your situation. There was no way I could make them work for me unless I was going to expect to have the same health at 80 as I did at 62....which I won't. Plus, you will come out on the losing end dollar wise if you kick the bucket prior to 80.

2) If you retire prior to 59 1/2 all qualified (pre tax) dollars withdrawn will be subject to income tax and a 10% penalty until you reach 59 1/2. Be aware of the IRS rule of 72t which allows you to retire once you reach the age of 55 and let's you withdraw money from your pre tax accounts without penalty. There is a formula for what you can withdraw which is generous and you can't modify it for 5 years. We retired at 55, lived off our own money until 57, took the 72t for 5 years and then filed for SS at 62 and set up withdrawals from my IRA to supplement.

3) Medicare; remember that there is a monthly fee for medicare for yourself and your wife.

4) $50k a year fixed income. Remember that things will assuredly change for the long haul. What works good now may not be enough in the future; example: When I retired my health insurance was $259 mo (company supplemented). The 2nd year after I retired the company withdrew all supplements for retirees and my insurance tab is $1530 mo. Thankfully we had plenty of financial resources to cover the increase without any effect on us....but it could have been catastrophic.

Some things to ponder as you try to determine what direction to take. I found that a couple of spiral notebooks, a calculator and folder to put it all in (along with copious notes) helped me a lot as I tried to figure it out. Good luck.
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