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Old 11-06-2018, 12:48 PM
 
Location: Scottsdale, AZ
7,612 posts, read 4,680,291 times
Reputation: 27841

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Quote:
Originally Posted by augiedogie View Post
RVers are a mixed bag. Some are snow birds/summer north ot mountains, winter in the south. Some have million dollar rigs, but many have 10-20 years old. Some are in campervans and some are like ours, over 40 ft. It can be very expensive, but some figure out how to do it real cheap. Some travel constantly, and some stay in just one or two parks all year. There's a lot of freedom to it.
Except the freedom to go home, since many of them don't have homes. One gets tired of the road eventually.

I saw some lots for sale in a development, I think in Yuma, AZ or thereabouts, where you have full hookups, then there are storage sheds at hand. The difference from an RV park is that you own the lot. This seemed like a viable option when I thought I might be single.

Something like this:

https://www.zillow.com/homes/for_sal...rect/9_zm/4_p/


Or this, with three RV hookups you could invite friends to spend the winter:

https://www.zillow.com/homes/for_sal...rect/9_zm/2_p/

Last edited by fluffythewondercat; 11-06-2018 at 01:04 PM..

 
Old 11-06-2018, 02:57 PM
JRR
 
Location: Middle Tennessee
3,677 posts, read 2,224,193 times
Reputation: 5218
Quote:
Originally Posted by LHS79 View Post
You can never retire if you have a mortgage.
Dang, here I am happy and dumb, retired and with a mortgage. If only I had known.
 
Old 11-06-2018, 03:04 PM
 
10,192 posts, read 12,235,799 times
Reputation: 14062
Quote:
Originally Posted by JRR View Post
Dang, here I am happy and dumb, retired and with a mortgage. If only I had known.
I had a relative (former CEO of a fortune 500 company). He retired and built a ridiculous mansion, carried a 4.5mm mortgage on it. Investment guys convinced him to leave money invested with them instead of paying off the mortgage being the rate of return was going to exceed the cost of the mortgage interest.

10 years in, guess what? The net after taxes earnings was within a few dollars of the mortgage interest. The jam: Housing market shifted and the house was much harder to sell than expected. Suddenly those $23,000 a month mortgage payments were starting to add up! Guy with no mortgage doesn't sweat as much as a guy losing $766 a day.

If I had a choice, no mortgage vs. mortgage I'd rather be the guy with more options and less payments!
 
Old 11-06-2018, 03:10 PM
 
Location: middle tennessee
1,924 posts, read 987,556 times
Reputation: 6931
Quote:
Originally Posted by LHS79 View Post
You can never retire if you have a mortgage.
?


I got my first mortgage after I retired.
 
Old 11-06-2018, 03:14 PM
 
Location: middle tennessee
1,924 posts, read 987,556 times
Reputation: 6931
Quote:
Originally Posted by City Guy997S View Post
I had a relative (former CEO of a fortune 500 company). He retired and built a ridiculous mansion, carried a 4.5mm mortgage on it. Investment guys convinced him to leave money invested with them instead of paying off the mortgage being the rate of return was going to exceed the cost of the mortgage interest.

10 years in, guess what? The net after taxes earnings was within a few dollars of the mortgage interest. The jam: Housing market shifted and the house was much harder to sell than expected. Suddenly those $23,000 a month mortgage payments were starting to add up! Guy with no mortgage doesn't sweat as much as a guy losing $766 a day.

If I had a choice, no mortgage vs. mortgage I'd rather be the guy with more options and less payments!



I expect to always have to pay to live somewhere. Having a mortgage and making ridiculous decisions are two different things.
 
Old 11-06-2018, 03:48 PM
 
13,314 posts, read 25,550,246 times
Reputation: 20487
Quote:
Originally Posted by JRR View Post
Dang, here I am happy and dumb, retired and with a mortgage. If only I had known.
I am 65 with a 15-year mortgage. And a pension. Still, I worry.
 
Old 11-06-2018, 04:07 PM
 
1,183 posts, read 760,021 times
Reputation: 3403
Quote:
Originally Posted by LHS79 View Post
You can never retire if you have a mortgage.
i'm retired, i have a mortgage. in fact, i took out the mortgage after i retired. not sure where you get your info
 
Old 11-06-2018, 04:10 PM
 
Location: Northern panhandle WV
3,007 posts, read 2,168,437 times
Reputation: 6691
Quote:
Originally Posted by JRR View Post
Dang, here I am happy and dumb, retired and with a mortgage. If only I had known.
Yeah I know what you mean. We only get SS no savings or anything else. Mortgage is $154. a month, somehow we manage. Taxes are only 16 a year now with homestead exemption.
 
Old 11-06-2018, 04:47 PM
 
Location: Whereever we have our RV parked
8,763 posts, read 7,695,901 times
Reputation: 14989
There's no doubt to me that when you're in your working years, the average person is going to have to work some difficult jobs, sacrifice, maybe change jobs, move, maybe even go back to school, if you want to have some kind of nest egg, and a decent ss payment. We did all those things. There's norhing fun about it, but you do what you have to do.

Even in retirement, we are planning a very low cost of living future to make our nestegg last.
 
Old 11-06-2018, 05:19 PM
 
20,717 posts, read 13,727,285 times
Reputation: 14388
Quote:
Originally Posted by augiedogie View Post
We've been living in an rv for two years now, and have met a wider variety of people than you would meet in your typical suburb. Ive been surprised at how many struggle financially. Some of them struggle financially, imho, because they retired early and they cant really afford the health insurance.

But thats not the only reason. Some struggle for other reasons. Some men have had substantial portions of their pensions taken because of a divorce settlement.

So I thought it would be an intersting discussion for posters to tell what they know to be other reasons why people, after working their whole adult life are still living paycheck to paycheck.

Have been saying this for quite some time, but will do so again.


Here in NYC there is no shortage of seniors going through garbage cans for recycling (cans, metal, or whatever else of value), and or rubbish bags in front of supermarkets, shops and other places for food.


In fact each week seem to see one or more new person armed with a trash bag going up and down my block digging through garbage for cans or whatever.


Truth to tell it is hard to pin every "poor" senior into a category. Unless you've lived their lives and or have access to their history you just don't know.


One thing is clear and should be kept in mind; those who are >60 now came up during a vastly different era. Entire sectors of employment that existed say in the 1940's through 1980's are now gone or have drastically changed. Many of those jobs even then didn't pay very well, so these seniors SS checks aren't going to be very huge.


Then consider many people are simply living far longer than expected and as such either have exhausted their savings and or must make what they've got last.


None of this touches all the companies that went bankrupt or whatever and stiffed retirees on pension.


Women in particular didn't earn very much money regardless of job back then; the expectation was a female would marry and thus her husband would answer for her financial future. If this didn't happen and or the couple were never "well off", then their fate as seniors won't be much different, in fact often financially worse.


Case in point know several nurses who are >65 and have no intentions of retiring anytime soon. With their experience they are earning more this last decade or two than they did in all previous after leaving nursing school. They are working to fatten their SS and retirement accounts, which is a good thing.
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