We are hoping to solicit a few thoughts from you guys as to earlier retirement or not? I’ve been busy working on parts of the blog space to include a new page regarding RV construction methods. Not much to see here yet but I hope to make it informative as time goes on.
We originally planned to retire in 2023. I’m sure we are not the first to consider cutting a few years off the wait and entering the fulltime RV lifestyle earlier than later. I’ve been reading up on blogs, watching video and searching forums about those that went fulltime in their “earlier” years. For us, the decision is go at 56 or 59? Financially, we could do either although leaving at 56 would cause us to work to earn about $6,000 annually we would be short until I’m eligible for social security. Or, like many have suggested, perhaps we would find a way to get by with what we have.
Leaving earlier would also cause us to use some of the income from selling our home to purchase a rig. In either case, we will be debt free.
We can’t help but think if we went earlier, and for some reason it was not the lifestyle we thought it would be, then we could still return to “regular jobs.” You all know the pros and cons of earlier retirement so no need to outline them here.
Granted there are other reasons not related to financial considerations that play a role. One area we have talked about is being younger while on the road may enable us to work at seasonal jobs we might not later be able to physically handle.
Here is another way to look at it. For every $6,000 we were able to save today, we could leave a year earlier! Or better yet, for every $500 we save then we can take a month off the date of departure. This is really starting to sound doable. I think I’ll convert an old credit union account into our “retire early savings plan.” Right now the account holds our emergency money. So that I don’t forget, I drafted two retirement plans, one at 56 and the other at 59 years of age. Both plans included saving an additional $200 each month today. So that $500 needs to be $700.
For those that have “retired” to a fulltime RV lifestyle, or decided to wait longer rather than shorter, do you have any wisdom to pass along? Karen and I would appreciate your thoughts on the matter.
Update: Started a new page to record extra savings we are using to take time off the clock and leave to retirement a little earlier.