California Dreaming

[SLB_SA]

Hi Everyone.  I just joined the forum, found this page and, to follow proper etiquette, decided to introduce myself.  I have emailed Bob a few times and find him to be a kind and thoughtful person who is tolerant of other's ideas and opinions.  

I am applying for medicare next year and love the idea of vandwelling. Fortunately (for me) and unfortunately (for vandwelling), my (3) kids and three (soon to be four) grandkids live in the same metro area as me, I own two houses and three "mortgages" and I live on my investments, which are rapidly shrinking. :s  (One daughter + family live in a house I bought for them this year, only 5 blocks away from me. )  I will take social security when I turn 70.  If I survive financially until then, should I wait until I am 70 to take up part-time vandwelling?  There are times I feel like selling everything and taking up full-time vandwelling immediately. :s

PS  I could not think of a thread title.  Since I grew up in California and return to visit (almost) every year but education and employment moved me to other states, I settled on "California Dreaming."  I probably cannot afford to live in California.

 

[Cammalu]

Hell no don’t wait! Rent out those houses and hit the road!!!

 

[highdesertranger]

Welcome S:B to the CRVL forums! To help you learn the ins and outs of these forums, this "Tips, Tricks and Rules" post lists some helpful information to get you started. We look forward to hearing more from you. highdesertranger

 

[QinReno]

SS, nobody can afford to live in California, except if they are camping out! There are now 39.5-million residents of that state.

Wait until 70 to start SS if you can, and get a supplemental medicare plan, but hit the road TOMORROW. You wouldn't believe how many people keep putting things off - getting Ready, getting Ready, getting Ready, getting Ready - and then something usually health-related comes up in the meantime. You've waited long enough, tell the kids they are on their own, say "Suck it up, Buttercup", you'll see them next year, and .... Do It Now. (that's my motto these days).

 

[SLB_SA]

Thanks for your advice. I do travel internationally about once a year and I am traveling overseas in October for three weeks. My "rule" is that somebody has to invite me and cover my expenses; I turned down an invitation to visit Moscow this summer because it was unclear if my expenses would be reimbursed.

 

[SLB_SA]

PS I told Bob I would try to attend the 2019 RTR and definitely attend the 2020 RTR. Maybe I will see you there.

 

[max+sophia]

Hello CD,  About waiting until you're older for Social Security.  We were told by a smart banker friend, that you never make up the amount you WOULD have received by retiring early.  Perhaps you know someone who can run the numbers for you.

I would also be concerned about the retirement age being raised, and missing out  because if it.

Welcome, and make sure it is YOU deciding your future, and not holdings or others.  Max

 

[SLB_SA]

Hi Max. My financial advisor looked over everything and recommended that I wait until I am 70 to claim SS. I also ran the numbers and decided to wait; if someone told me how long I would live, this would make my calculations easier. (I work out at the YMCA every morning and am in great health. Of course, nobody knows what the future holds.)

 

[max+sophia]

Hi Max.  My financial advisor looked over everything and recommended that I wait until I am 70 to claim SS.

Only you know what's best for you.  My late husband and I opted for 62,and it worked out well. He was able to concentrate on his art for several years.  Max

 

[Moxadox]

The point is, nobody in this life knows how long they will live. One of the themes that runs along with mobile dwelling is: QUALITY, not QUANTITY. Those few extra clams you get from waiting till 70? If you kick off at 69 you'll never see them, and neither will your kids. Your accountant operates off of actuarial data, which is great for making educated guesses on the population scale, but lousy at predicting what will happen tomorrow.

Of course you're the one in the driver's seat. You're the one who has to live your life and the consequences of your choices. Many people are content to read the forums and sit on the sidelines managing their money and dreaming of the time when they'll have "enough," whatever that is. Everything involves risk, as you know.

The Dire Wolfess

 

[max+sophia]

The point is, nobody in this life knows how long they will live. The Dire Wolfess

You are 100% correct.  If one wants to begin living on the road, seeing it all, then waiting for that last dollar is like russian roulette. 
As I mentioned, the last several years my husband had  after retiring, allowed him to concentrate on his own creations, rather than providing for clients.  Those were happy, fulfilling years.  Max

 

[VanForNow]

As a general rule, I think it is a good idea not to go "all in" until the water has been tested. Sometimes theory does not work out in practice. For this reason, I believe potential nomads would be wise to try part-timing before they commit major resources to full-timing.

I followed my own advice by renting a car and tent-camping around the Southwest for a period of time. Fortunately, I found that I loved the nomad life. Only then did I commit to spending a lot of money on a rig and equipment. I have now been on the road for 23 months and enjoy this life.

 

[SLB_SA]

The Dire Wolfess: I certainly understand your point; I could walk out of my door tomorrow and get hit by a truck. I take solace from the fact that I travel already, in the US and internationally, I have a place to crash in NorCal whenever I want and I can go on a camping trip at any time.

The idea of fixing up a bus which would allow some of my son's telescopes to be mounted on top when we are parked and then traveling with him to Arizona, New Mexico and California is very appealing. As long as he has a good internet connection, he can do coding anywhere.

There are resources that I have mentioned to Bob that vandwellers may not be using. I could imagine holding a class at a future RTR on this topic.

 

[Riverman]

Take some long trips now, then you can decide if the mobile life is for you.

 

[SLB_SA]

Thanks Riverman. Today I got two vaccination shots for my trip in October and my doctor is uncertain about another vaccination; his nurse will call me with the opinion of a physician who specializes in vaccinations for international travel but is gone until Thursday. Getting ready for this trip (and helping my ex-wife with a few things) is taking up my time at the moment.

 

[QinReno]

I had cooked up a post about pros and cons of waiting on SS. Will just say that all the people I know who are in good shape financially AND in good health are waiting. As Moxie indicated, this is life and there are no guarantees. If you die at 68 and didn't start, then you get nothing. But if you live to be 92, it's another story.

 

[Bobflhtc]

I also decided to wait until age 70 to collect my Social security. My wife died several years before I was ready to retire. The first point I would make is that SSA will not inform you about the best way to maximize your benefits.

I found out that as a surviving spouse I was eligible to collect her benefits while mine continued to accumulate at approximately 8 pct a year. In my case her benefit amount is 70pct of mine and it will take until age 75 to break even.

So why did I do it?
Any month I decided it is too hard I could switch and take mine.
I'm saving money even on the reduced amount
I'm pretty healthy (no meds)
Both parents lived to mid 90's
If I die before 75 who cares I'll be dead

Everybody's situation is different

 

[Riverman]

Enjoy your retirement and travel all you can, while you are able.

 

[SLB_SA]

"If I die before 75 who cares I'll be dead."
Exactly. If I live to be 105, knowing that I have that extra 8% per year in additional SS benefits will be great. If I die at 66, I'll never worry about my situation at 95 because I'll be gone.

 

[max+sophia]

I took my SS at 62.... and have really enjoyed every check, every month....  no regrets.

Riverman, aren't we talking about two di8fferent things?

1. A Financial Decision - Wait to retire, and receive more down the road.
2. Retire at a lower income - Many reasons.. tired of work, have a plan, don't need extra money.