Introduction/Hoping to Retire Early and be Full-time RVers

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RoadBikerFreedomChaser

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Aug 20, 2016
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Hello.  My husband and I have been thinking about selling our home and going on the road permanently.  He is retired and I am looking at early retirement (I will be 52 this year).  We have started researching and looking at 5th Wheels.  My biggest concern is health insurance and how to make the transition from home ownership to living the traveling life.  Our plan is to sell our home in the next 2-3 years and use the proceeds to purchase a 5th wheel and trade in our vehicles for a one ton pickup truck.  We have no idea how to begin estimating costs of RVing versus home ownership or what the cost of health insurance coverage would be or how to obtain it since we will be traveling.  Does anyone have any tips, advice, etc.?'

Thank you.

Mary and Tom
 
First off, welcome to the forum. 

You have many questions, so I would start by telling you to read everything in the Library.  There are many articles on full-timing and also on RV maintenance. 

You can also do searches and find past conversations on many of the things you'll need to know. 

There is a lot of information on this forum but if you can't find what you're looking for, ask away.  Put the question in the subject line for more help.

Robin
 
Welcome to the Forum!

I am glad you are here before a big purchase.  Hopefully, our comments will guide you to a well thought out decision.

On health insurance, talk to an agent (I am not) but if you have a policy NOT associated with a specific PPO group or other group of preferred providers, you should be fine.  Original medicare is this type of coverage.  If I am sick, I do not want to find a preferred provider in the area - if any exist.  I just want to go to the doctor.
 
RoadBikerFreedomChaser said:
We have no idea how to begin estimating costs of RVing versus home ownership...
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You really can't estimate it since there are so many variables. Some people move into a park and stay there a month and other people change parks on a daily basic. Monthly rates are way cheaper than daily rates  ($400 a month vs $35 per day on average) and with monthly your gas cost drops dramatically. Plus by staying monthly it makes it easier to shop for the entire month at once.
 
As many have suggested check out our library topics on Fulltiming HERE . Research is the key to making an informed decision. For most of us the enjoyment of Fulltiming was traveling to all areas of the continent and that cost us more than our previous life (After kids that is). The five years we spent on the road as well as the 5-6 months we are still traveling are some of the greatest memories we have.


Insurance before Medicare is a big expense for minimal coverage for protection while you are traveling.


Also I recommend having an exit plan if either of you decide Fulltiming is not for you.


Good luck and enjoy the adventure.
 
Just a heads up on insurance; we full time and my wife still has to have insurance. In Texas we're paying $780 per month for insurance with a $6, 000 deductable. That's just for her! You might find ppo a little cheaper. As for Obamacare; only ppo options in Texas and those are going away fast. There are some options with high copay's that look some cheaper, but can really cost if you get very sick!

The best option may be to buy the cheapest you can find so you get the insurance company's discount (can be as high as 50%) and plan on paying.

Ernie
 
I agree with Ernie's heads-up.

I retired at 60 years old ten years ago and paid my own insurance until I turned 65. I simply picked up my companies "Cadillac" plan that had covered me (no paper, no payment ever) and paid $40,000 over that five year period with the final monthly payments being $780 until 2011.
 
I'm about the same age and have the same plan.
Insurance is the real wild card in the whole thing.  I may be able to keep my employers plan and pay for all of it. What you get will be based on where you choose as a domicile that's in the library. 

The suggestion I'll make is that you try it before committing to full time, as much research as you do you will still not be prepared for everything. If you find you like it then you will also find that your first RV will not necessarily be your last, things change you find that it's too big,too small or just laid out in a way that doesn't work for you.
 
glen54737 said:
The suggestion I'll make is that you try it before committing to full time, as much research as you do you will still not be prepared for everything. If you find you like it then you will also find that your first RV will not necessarily be your last, things change you find that it's too big,too small or just laid out in a way that doesn't work for you.
Click to expand...

Good advice.  You don't provide a lot of information so take any advice with a grain of salt.  It sounds like you have limited resources.  It also sounds like you have never owned or traveled in an RV for any considerable period.  As has been said, RVing is not for everyone.  Even those that love it, need an exit plan as Jeff suggested.  Health may dictate that RVing is no longer an option.  Unless you have significant resources, you may want to rent an RV for a while to see if the lifestyle fits.  While it's an expensive way to determine if you really want to be a full timer, it's probably a lot cheaper than selling everything, finding out you don't like it and then looking for a suitable place to live. 
 
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