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Old 09-30-2017, 10:32 AM   #1
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Affording to Retire

Not sure where this goes.

Stumbled onto this article, that says how difficult it is getting for folks to retire, as everyone is having to work till they die.

The new reality of old age in America

I call balderdash and poppycock!

Every campsite I go to (22 of them in last 8 months), is absolutely full. The higher end ones, like where I am now, is about 70% large expensive motorhomes. Finding a campsite is not impossible, but not easy either. The roads are full of 'us'.

Most states used to require vehicle inspection to get a license. Now most don't. Why not? Because most vehicles are new. Houses are expensive, and selling. I'm at a place that has a population of maybe 12,000 'citizens' but there are over a gazillion empty condo sites as far as the eye can see, just waiting on the owners to show up. This goes on from here, all the way around Florida, back up to Georgia (where we just left) and doesn't stop till Canada. The amount of money 'retired folks' are spending for this alone is staggering. I am crazy, and spending every nickle I have, but I'm fat and not starving and not going to go back to work!

I understand SOME folks are hurting. Mostly, folks have to work to get health insurance, if they are less than 65. But I don't see this article being applicable to the majority of retirees.

Maybe I'm all wet........I often am. But all I see is
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Old 09-30-2017, 10:42 AM   #2
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I work, but just for something to do. 25 hours a week, 4 weeks paid vacation.

Between that pittance, military retirement, 2 SS checks, 2 IRAs, and virtually no debt, wife doesn’t work and I don’t have to.

Not wealthy by any stretch (we own an R-Pod, not a motor home), but we own our RV outright, and the TV.

We worked hard to get here, and we’re set. The younger generations can do what they will. We don’t need them.
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Old 09-30-2017, 10:43 AM   #3
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Here's something else to look at. The last 5 years has seen a 200% or more boom in the RV industry. 2018 alone looks to add roughly 500,000 more RV's to the equation of campground crowding. In Nebraska, were looking at a 3:1 ratio of RV's per Campsites for the entire state. For every campsite in state...potentially there are 3 RV's vying for that one site. Not sure on the "Retirement" aspect, but just the shear numbers of RV's has increased tenfold.
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Old 09-30-2017, 10:45 AM   #4
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Well.........remember that 10,000 people are retiring EVERY SINGLE DAY. Seven days a week.

Staggering.
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Old 09-30-2017, 10:52 AM   #5
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I'd guess at least half, and probably more, of those fancy RV's you're seeing have 10 year loans associated with them. And the TV's probably have 5-6 yr loans.

Lots of folks are quickly forgetting 2008.

Which brings up another hot topic for the masses.
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Old 09-30-2017, 10:53 AM   #6
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Originally Posted by BandJCarm View Post
Well.........remember that 10,000 people are retiring EVERY SINGLE DAY. Seven days a week.

Staggering.
That too !! Damn us "Baby Boomers."
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Old 09-30-2017, 11:01 AM   #7
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Originally Posted by BandJCarm View Post
Not sure where this goes.


I understand SOME folks are hurting. Mostly, folks have to work to get health insurance, if they are less than 65. But I don't see this article being applicable to the majority of retirees.

Maybe I'm all wet........I often am. But all I see is
That's the hurting part now (health insurance). I retired at 62 as well as my wife. Now that my "Cobra" coverage has expired from my previous company, my BC/BS went up from $1529 a month to over $2200 a month. So I'll have to cough up that check every month, at least until I turn 65.
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Old 09-30-2017, 11:22 AM   #8
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not sure if you are seeing the "majority" of the retirees, only those that travel in your circle. Those that can not afford these things are not out there for you to notice.

I am not retired but should be getting close, I say "should" as I don't think I can retire at the "usual" age, I may have to wait until I am 70 to afford it. Pensions have mostly gone away and people must now save up on their own to retire. This will have more of an impact on the generations that are now currently in the workforce. As to my retirement, I don't think I will be buying those huge motor homes and travel to the $$$ RV parks. I am looking at staying in my hopefully paid off house as long as I can with modest travel pulling my little bumper pull camper.
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Old 09-30-2017, 11:46 AM   #9
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Quote:
Originally Posted by TheWolfPaq82 View Post
Here's something else to look at. The last 5 years has seen a 200% or more boom in the RV industry. 2018 alone looks to add roughly 500,000 more RV's to the equation of campground crowding. In Nebraska, were looking at a 3:1 ratio of RV's per Campsites for the entire state. For every campsite in state...potentially there are 3 RV's vying for that one site. Not sure on the "Retirement" aspect, but just the shear numbers of RV's has increased tenfold.
And how many old campers get retired. I retired when I was 62 lucky I was thinking what kind of retirement would I have when I got ready to retire besides social security so I sought work for companies that furnished retirements and I was able to keep my insurance when I did retire at a very reasonable cost. And yep Get two retirement checks every month.

From what is mentioned on news the Milinials are not even thinking of saving for a retirement guess they want uncle sam to take care of them. Later RJD
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Old 09-30-2017, 11:49 AM   #10
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We have 5 - 6 sites where grandpa comes and pulls the camper from the storage area, checks every thing out, turns on water, gas and water heater and leaves. Later in the day kids & grandkids show up for the weekend. At the end of the weekend grandpa comes and puts the camper back in storage. I talked to one and he said if weren't for him doing that he'd never get to see the grandkids. He lives in a house about 5 miles away. Sad.

2 other seasonals pay for their site and have their trailers set up. One uses the TT the week of July 4th for 7 days only. The other hasn't been to their TT in previous 2 years, but last fall they showed up for hunting season after paying an additional $200.

There is another young couple which gets the same seasonal site every year and puts a tent on it twice a year. This year they were told that after this season they need to get a rv if they wish to renew.
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Old 09-30-2017, 11:54 AM   #11
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The people we know who have problems in retirement resulted from "Living in the moment" and "poor planning". Might not be everyone's problem but I'm sure it is more prevalent than we realize. Unforeseen circumstances hurt many and I feel bad for them.
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Old 09-30-2017, 12:11 PM   #12
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Quote:
not sure if you are seeing the "majority" of the retirees, only those that travel in your circle. Those that can not afford these things are not out there for you to notice.
Thinking the same. Won't see too many econobox drivers at the Bentley dealership. But they are out there in far larger numbers than Bentley drivers.

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Old 09-30-2017, 12:17 PM   #13
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The people we know who have problems in retirement resulted from "Living in the moment" and "poor planning". Might not be everyone's problem but I'm sure it is more prevalent than we realize. Unforeseen circumstances hurt many and I feel bad for them.
Fully agree Bob. If circumstances beyond one's control put you in a poor situation, I feel bad for you. However, I think MOST have only themselves to blame. New cars every year, expensive vacations, always having to have the latest & greatest gizmos. So many people I know lived like that, and it's time to pay the piper.

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Old 09-30-2017, 12:27 PM   #14
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I think the biggest problem is schools do not require financial planning or "money life skills" to be taught. It should be a required course taken when in high school and again in college. Too many of the students I have seen over the years get a credit card without knowing the whole picture and start a financial disaster which prevents a chance at good planning for the future. Others have bought into the government will "take care of you" and never look into better ways.
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Old 09-30-2017, 12:36 PM   #15
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If you go to the doctors office you only see sick people. If you stay at the Ritz there are hundreds more there just like you.

There are many, many average and below average retirees you don't see at campgrounds. I got a pretty good state retirement check, but now they are talking about cutting it 10% or more because of Government poor planning. Meanwhile I don't carry dental insurance and medicare don't cover it. So far in the past 2-3 years just my dental expenses have kept me from camping at least 2 or more months each year.

I'm not rich, and there are some more poor than I... without even an RV to p*ss in... as the saying goes.
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Old 09-30-2017, 01:06 PM   #16
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Gone are the days of working for one company and getting a pension when you retire. I suppect its a small percentage of folks that have planed and saved in order to have enough disposable income to fill the RV resorts with the type of RV you describe. I was blessed to be able to retire at the age of 57 with full benefits after 31 years of federal service. It if had not also saved along the way I still would not be on the road in our RV.
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Old 09-30-2017, 01:12 PM   #17
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I am retiring in January. I am 58 and have no pension plan. Just socked away the max I could into my 401K every year I have worked. I drive my cars until they have over 200K and do ALL the work on them.

I do have a big advantage over most in that I didn't have any kids so no college or weddings to pay for in my future.
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Old 09-30-2017, 01:14 PM   #18
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Retirement never entered my mind as far as planning, never worked for any place that had retirement, then the last 30+ years ranched and owned a business. This past year I've been on the road - my shake down year to see what I could see, go where I could go. Expensive for me, but I'll never allow myself to be in debt and now that I'm more aware, I'll tone things down next year.

Doubt my income per month would make a payment on many of the fancy rigs I've seen, but that really doesn't concern me. I can live within
my means and if something goes sideways....I'll change what I'm doing.

I've seen questions on forums that say - can I full time on $xxxx. per month? Well, yes, you can IF that's how you lived before. This will
be my first full winter in AZ and I'll pay less than half per month rent as to what I paid during my travels. Less fuel, too. Starting next spring hope
to do some boondocking to find new places and save $$.

I can see 70 not too far down the road, and as others have said wonder how the young folks will manage with the huge fancy house, new everything. Some of you will remember what happened in 1980 - yep, that was a recession too and devastating to many. 2008 came and went, and it WILL happen again.

No advice...just a story about having what you have and being happy with it.
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Old 09-30-2017, 01:41 PM   #19
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The entire country is not getting high incomes.

Need to check our area out........many are in their 70s still working for minimum wage as they have all their life. A wage of more than $12 an hour is rare here, more mobile homes many from the 1970s here a decent house sells for $80K or less. A livable house can be bought for $35K. More 1980's cars than new cars....... More people paying the IRS fine than have health insurance including my RV repair guy and auto mechanic. They live with no health insurance.

Yes a few rich live here the company owners & lawyers............

72 month car loans are normal as are 15Year RV loans. The most expensive RV on the RV dealers lot here is 35K (no motor homes) he carries mostly 10-15K models. Used for 8K

During the mid 2000's recession we were up to nearly 25 percent unemployment.

You don't see the retiree's with little to know money.............. unless it is in that old or homemade camper.
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Old 09-30-2017, 02:37 PM   #20
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That's the hurting part now (health insurance). I retired at 62 as well as my wife. Now that my "Cobra" coverage has expired from my previous company, my BC/BS went up from $1529 a month to over $2200 a month. So I'll have to cough up that check every month, at least until I turn 65.


I decided to self-insure with a catastrophic plan. There are still some ACA compliant plans.

If you are in good health, there is no reason to pay $2200 a month. You could save $50,000 in cash over three years until Medicare kicks in.
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