Woodalls Open Roads Forum: Unexpected Retirement - Keep RV or not?
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 > Unexpected Retirement - Keep RV or not?

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GrumpyGator

Middle Tennessee

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Joined: 04/06/2012

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Posted: 12/26/12 12:02pm Link  |  Print  |  Notify Moderator

Well, I guess it happens to the best of us. My business partners decided to "pursue other avenues" and want to buy me out. I can keep my ownership of the company or sell. I don't believe in their new direction so I'm taking a buyout. The terms are good, so no problem there.

I'm 64 and eligible for early Social Security. I have no other retirement income other than what I have put away, about $500K. SS will pay me about $1700 per month.

My S&B is paid for, as is my vehicle. Only "real" bill is my RV, which I purchased new earlier this year. I put a big down payment on it so I won't be upside down for a couple of years. Payment is about $400/month. Total bills are about $1K, everything included. Don't currently have any health issues.

I like to take off about 6 times per year for a week or 2. Really don't like the idea of giving that up.

So, what would you do? I'm not going to live forever and would like to enjoy the years that I'm able to travel. Am I unrealistic in trying to keep the RV?


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donn0128

Pronounced Ore-gun

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Posted: 12/26/12 12:07pm Link  |  Print  |  Notify Moderator

Keep it. Maybe pay it off since a lot of the deductions are going to end Dec31 and enjoy life.


Don,Lorri,Max (The Rescue Flat Coat Retriever?)
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Olbeachcomber

Louisiana

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Posted: 12/26/12 12:11pm Link  |  Print  |  Notify Moderator

I think I would make every effort to keep it. Like you said, none of us live forever. Enjoy it while you can!!

HappyTrails2U2

Tennessee is home but being held hostage in GA.

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Posted: 12/26/12 12:15pm Link  |  Print  |  Notify Moderator

If your like the average retiree you'll be dead with in 5 years anyway so why bother? You won't run out of money by then unless you go to Vegas and blow it on gambling and wild women. So enjoy it while you can.


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gbopp

The Keystone State

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Posted: 12/26/12 12:16pm Link  |  Print  |  Notify Moderator

Keep it and enjoy it while you can. You don't know what tomorrow will bring.

pianotuna

Regina, SK, Canada

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Posted: 12/26/12 12:18pm Link  |  Print  |  Notify Moderator

Hi,

I'd keep the RV and double up on the payments to reduce the term of the loan. I use my RV about 60 days per year and drive 1000 miles per month on average.


Regards, Don
Full Time in a Kustom Koach Class C 28'5", 256 watts Unisolar, 875 amp hours in two battery banks 12 volt batteries, Magnum 3000 watt PSW inverter.

smkettner

Southern California

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Posted: 12/26/12 12:20pm Link  |  Print  |  Notify Moderator

Keep it at least for another year ot two and see how it goes. I would tend to just pay it off or at least send double or more on the payment.


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RVUSA

Orlando, FL, USA

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Posted: 12/26/12 12:20pm Link  |  Print  |  Notify Moderator

Keep the rv, sell the biz, sell the house, and get busy retiring.

D.E.Bishop

Eagle Rock, CA

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Posted: 12/26/12 12:21pm Link  |  Print  |  Notify Moderator

HappyTrails2U2 wrote:

If your like the average retiree you'll be dead with in 5 years anyway so why bother? You won't run out of money by then unless you go to Vegas and blow it on gambling and wild women. So enjoy it while you can.


OMG, is that's why I've been feeling so sluggish the last twelve years of my retirement. DW said I'd be driving that house down the road with somebody trying to take the wheel out of my cold dead hands someday.

Well the rest of you have a Happy New Year.


"I travel not to go anywhere, but to go. I travel for travel's sake. The great affair is to go". R. L. Stevenson

David Bishop
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capndan771

Northern Michigan

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Posted: 12/26/12 12:27pm Link  |  Print  |  Notify Moderator

We purposely purchased our motor home for just the reasons you now face. Financially, we are in similar financial condition but took early retirement at 63. Only major issue was maintaining a medical plan until Medicare was available. We maintain our base cabin home in northern Michigan and travel about 5-6 months out of the year. All has worked out very well and we are very happy with our decision. We did analyze our financial very thoroughly to be certain there were no gremlins that might crop up. So far, so good. If you enjoy traveling now, it only gets better as time goes on. We did not want to be part of that group that wished they had when we could be part of the group that can say, damn wasn't that a great time!

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