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How large/small is your fulltime budget?


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Poll: How much does it cost you? (144 member(s) have cast votes)

What is the typical total amount of all living expenses for a year on the road?

  1. less than $10,000 per year. (4 votes [2.78%])

    Percentage of vote: 2.78%

  2. $10,00 or more but less than $20,000 per year. (18 votes [12.50%])

    Percentage of vote: 12.50%

  3. $20,000 or more but less than $30,000 per year. (21 votes [14.58%])

    Percentage of vote: 14.58%

  4. Voted $30,000 or more but less than $40,000 per year. (41 votes [28.47%])

    Percentage of vote: 28.47%

  5. Voted $40,000 or more, but less than $50,000 per year. (22 votes [15.28%])

    Percentage of vote: 15.28%

  6. $50,000 or more, but less than $60,000 per year. (15 votes [10.42%])

    Percentage of vote: 10.42%

  7. $60,000 or more, but less than $70,000 per year. (11 votes [7.64%])

    Percentage of vote: 7.64%

  8. $70,000 or more, but less than $80,000 per year. (5 votes [3.47%])

    Percentage of vote: 3.47%

  9. $80,000 or more but less than $90,000 per year. (2 votes [1.39%])

    Percentage of vote: 1.39%

  10. $90,000 or more but less than $100,000 per year. (0 votes [0.00%])

    Percentage of vote: 0.00%

  11. $100,000 or more annual expenditures. (5 votes [3.47%])

    Percentage of vote: 3.47%

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#41 freestoneangler

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Posted 27 December 2015 - 09:28 AM

Wow, great thread.  Looking at the results gives me additional confidence about our early retirement in 2016!  Mariner's post above provides me even more confidence.  I'm fortunate to have a company pension plan that includes medical from age 55 to Medicare.  We've been debt free since 1999 and plan to stay that way.  That we are both frugal and find prices of most goods absurd is what has no doubt aided in meeting our goal to retire early. 

 

Having met yearly with a financial planner, going back about 10 years now, and his numbers showing us "good to go"... there is still always that doubt that your overlooking something.  One thing he's had us do a couple times is to list your total living expenses (soup to nuts) as that is a critical piece of running any analysis.  Having done that and even padding the numbers up a bit, the numbers work.  Certainly new expenses will come into play associated with RV travel and I've tried to account for that (primarily RV site fees and fuel).  Like many I suspect, we'll travel a lot the first year or two, seeing the great USA, then throttle back to more regional travel and snowbird... at least that seems to be the trend based on others.

 

No guarantee's on anything (except death and taxes) and you don't get the years back... so here we go   :lol: .



#42 Barbaraok

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Posted 27 December 2015 - 12:00 PM

A couple of things when you look at your budget.  Often your grocery budget will go up because you will be shopping in new stores, seeing new products in different areas, which often means spending more - - but that's ok, because that is part of the adventure in traveling.  On the other end, you may find that eating out goes down because you have more time to cook, or you like the grill & graze style of eating at home that the lifestyle sort of encourages.

 

Barb


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#43 freestoneangler

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Posted 02 January 2016 - 10:03 AM

I'd be interested to hear back from the forum as to how this calculator reflects realties of their retirement budget.  The tool was developed by an economist that looks at the history of the markets and, based on your starting nest egg, annual draw for living expense, and expected lifespan, determines how many market scenarios in decades past you would have been in the "black or red" so to speak.  Naturally, for those who have a defined pension as part of their income, the market aspect is less a factor. 

 

http://www.firecalc.com/index.php

 

Let me know what you think.



#44 GR 'Scott' Cundiff

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Posted 02 January 2016 - 10:21 AM

I finalized our 2015 expenditures and was pleased to see that we had finally dropped below $40K for the year.  Our first two years out we had, not only the much higher fuel prices, but a lot of repairs as well.  For instance, in 2013 we ended up buying new tires for everything - 12 new tires.  We also had to buy new batteries for everything - 5 batteries!  Ouch!

 

We had similar expenses in 2014.  Both of those years came in at just over $41K each.

 

This year, thanks to lower fuel prices and only one bigger repair, we came in at $36K on the year.  

 

My annual budget info is here.


Our "Here and There" Blog

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#45 freestoneangler

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Posted 02 January 2016 - 11:31 AM

I finalized our 2015 expenditures and was pleased to see that we had finally dropped below $40K for the year.  Our first two years out we had, not only the much higher fuel prices, but a lot of repairs as well.  For instance, in 2013 we ended up buying new tires for everything - 12 new tires.  We also had to buy new batteries for everything - 5 batteries!  Ouch!

 

We had similar expenses in 2014.  Both of those years came in at just over $41K each.

 

This year, thanks to lower fuel prices and only one bigger repair, we came in at $36K on the year.  

 

My annual budget info is here.

 

 

 

Based on the poll results thus far, that has you almost dead center in the bell curve.  Thanks for sharing the information.


Edited by freestoneangler, 02 January 2016 - 03:35 PM.


#46 Kirk

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Posted 02 January 2016 - 12:41 PM

Interesting calculator. This is something that should be introduced to those in their prime earning years. In fact, I just sent the link off to our three sons. For me it is just a little bit late since we are already into the required withdrawals. Even so, it is kind of fun to play with.


Good travelin !...............Kirk

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#47 Jack Mayer

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Posted 02 January 2016 - 01:18 PM

We had similar expenses in 2014.  Both of those years came in at just over $41K each.

 

This year, thanks to lower fuel prices and only one bigger repair, we came in at $36K on the year.  

 

My annual budget info is here.

I had speculated that we would be in the $34K or maybe even 35K area this year, since insurance for us is ridiculous. In all of our previous 15 years fulltiming we have been mostly well under 30K.  Our numbers came in at a little over $33K for the year. This is the first year substantially into the 30's....I expect it will stay that way going forward.


Edited by Jack Mayer, 02 January 2016 - 01:19 PM.

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#48 GR 'Scott' Cundiff

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Posted 02 January 2016 - 01:29 PM

By the way, our out of pocket expenses are actually a bit lower than I report.  We volunteered for a campsite for three months of the year.  To better give people doing research I give those months a camping cost of $325 each.  If we weren't volunteering at east one of those months would be spent at Thousand Trails paying $5 or $10 a night so I think the $325 figure is pretty reasonable.  


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#49 Mariner

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Posted 03 January 2016 - 09:00 AM

Also something that's important, especially in our case, is that when we went full time we were debt free. The only bills we have are for healthcare, long term care, insurances(Car & MH), and cell phone. That was our plan when we hit the road over 5yrs. ago, so we would have plenty of flexibility to do just about anything we might want to do. And I must say it's worked out great. Although sadly it's coming to an end since we're having a home built here in S.C. so we can do some overseas travel before we get too old & decrepit. But it's been a great ride, and I wouldn't change a thing.


Fulltiming since 2010

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2009 Saturn Vue

Myrtle Beach, SC

 


#50 BeckyIO

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Posted 09 February 2016 - 03:17 PM

In 2015, my cost of living was $15,693.48 as a full-timer.  I am solo, still working (work-camping and writing), and in my 3 years on the road have consistently spent less than I did living in an apartment.  I hit the road without any debt and am considered frugal by many full-timers.

 

My budget info for every year I've been on the road (and my last year living stationary) can be found here: http://www.interstel...-income-report/


Becky

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#51 Kiltedpig

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Posted 03 March 2016 - 01:02 PM

We are debt free and will stay that way in retirement since we will pay cash for the MH and toad.  Most expenses are fixed like health ins, insurance, prescriptions, food, etc. the biggest expense drivers seem to be the variable expenses like fuel and campground fees.  They can be managed by slowing down and not driving so much every month and staying in campgrounds for a month at at time, boondocking, plus work camping where you get a "free' site and you won't be driving much.  There will always be unexpected expenses that you have to plan for and have money set aside for.



#52 jacks

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Posted 03 March 2016 - 04:57 PM

Great info, and tells me I could make things work. I'm single 61 and $33,000 is my budget per year I could make this work, that is, if I can make the decision to do it!

#53 Jack Mayer

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Posted 04 March 2016 - 10:52 AM

Great info, and tells me I could make things work. I'm single 61 and $33,000 is my budget per year I could make this work, that is, if I can make the decision to do it!

That is very doable if you have no RV payments. And once SS starts that will help mitigate future inflation rises. I would not hesitate to start out with that budget. But I would want to be debt-free.


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#54 Smitty

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Posted 13 March 2016 - 10:01 AM

Pre 65 without on your own Health Insurance, has become a much larger slice of the budget. I know Jack mentioned that it is their single largest item, or maybe it was 'insurance' all up:)!

 

We are at $19.5K just for Health Insurance, without seeing a doctor, or paying for our medicines.... That's a pretty good size line item on any budget sheet:)!

 

I've coined us as 'Permanent Full Time Part Timers'. Due to family situations, we're what I call Hub and Spoke travelers. (Hub is our Vacation Home in San Diego, where my MIL lives. Spoke(s) are our trips away from that Hub, and then returning periodically to check on things. My wife's brother and his wife also live in the San Diego area, and both are still working. We've coordinated our travel plans with them, to be sure one of us is always in the San Diego area to monitor MIL. (She is doing great, now, but we almost lost her two years ago... So, a real ongoing concern to monitor things closely.) 

 

We therefor travel for usually 2-3 months trips, before running back to the Hub. We'll be doing a month trip this year, as we'll running to see the Indy 500's 100th running, then on up into the New England states for the first time. Returning West thru the Great Lakes regions, and then onward just South of the Canadian border. 

 

So our 'full time budget' needs to be factored, as with many of you here to. Our's will seem a bit high, as I include RV related upgrades to. And this list still has a few big ticket items ahead over the next two-three years. 2015, with 7 1/2 months of travel, we spent $42-45K. (The 'fixed costs' for many items carry over the other 4 1/2 months of the year. (RV/Auto/Health/Life/Long Term Care Insurance, Food, Wine, Medicines. Not included in this number, are our S&B related mortgages and insurance and maintenance costs. Nor another vehicle we leave at the S&B home.) 

 

And as mentioned, much discretion in how we all choose to spend our funds on both food/wine/entertainment/etc., etc. We know we have scaled back our travel plans, stay in more National Parks and Passport America Parks. We have rented a site in Yuma for two months this year. We have gone to Bota Box wine during the week, with 3 bottles of $9-12 range glass bottle wines on the weekend. Much fewer lunches and dinners out. As we have diverted those funds from other parts of the economy, to help offset the higher costs of Health Insurance for 2015, and also this years 2016 big jump too. It is the way it is... 

 

So, all of us have different perspectives from where we're coming from when sharing. Some of us are Pre 65 with no help on Health Insurance. Others are Post 65, or have full Health Insurance. That makes these numbers on the poll interesting to see, but without the additional notes by those that shared more specifics. Hard to make any conclusions from:)!

 

Always enjoy these threads, as great to learn how others have done things. I know in our 'Can We Do It?' planning phase, this site's members were very generous in sharing their experience with us. Always appreciative of those that take the time to do so...

 

Best to all,

Smitty


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Smitty
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#55 Barbaraok

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Posted 13 March 2016 - 10:09 AM

Oh Smitty, cutting back on wine!  Please say it isn't so.   :o   ;) 
   

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#56 Smitty

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Posted 13 March 2016 - 02:54 PM

Oh Smitty, cutting back on wine!  Please say it isn't so.   :o   ;) 
   

Barb

 

And scotch too, the inhumanity of it all... 

 

(A little secret. If you let a Bota Cab air for about two hours - it still tastes like a Bota!!)

 

We're getting by,

Smitty


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#57 Jack Mayer

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Posted 31 March 2016 - 08:35 AM

 

And scotch too, the inhumanity of it all... 

 

(A little secret. If you let a Bota Cab air for about two hours - it still tastes like a Bota!!)

 

We're getting by,

Smitty

I'd say you are "cutting to the bone" there, Smitty.  My sympathies....


Jack & Danielle Mayer #60376 Lifetime Member
Living on the road since 2000

PLEASE no PM's. Email me.
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2015 Volvo 780,  D13 455/1750, 236" wb, I-Shift, electric/battery APU
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www.jackdanmayer.com


#58 GR 'Scott' Cundiff

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Posted 22 June 2016 - 12:55 PM

I've been recommending this thread to people on Facebook who ask what the average Fulltimer needs to budget.  


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#59 ToddandHeather

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Posted 22 June 2016 - 04:19 PM

Last year (2015), we came in just shy of $36,000 for the year. However, we increased the budget for 2016 because of where we have chosen to spend the majority of our time - This Summer in The Black Hills of South Dakota, and this coming Winter in Gulfport, Mississippi (with a two week stint at Christmas to Key West, Florida). Due to these geography choices our monthly campground fees increased significantly for this year. Of course, we knew this ahead of time, made the choice anyhow, and budgeted accordingly.

 

The other factor causing us to increase the 2016 budget was an anticipated rise in fuel pricing from last year's lows. January and February of this year saw fuel prices continue to fall. However, they have steadily risen since then.

 

Looking ahead to next year (2017), we will need to adjust the budget once again - but downward this time. Although we expect fuel prices to continue to rise in 2017, our campground fees will be cut to next to nothing (again do to our geographic choices).

 

BTW, Great thread!

 

Good travels to you all!



#60 Kirk

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Posted 22 June 2016 - 05:32 PM

Last year (2015), we came in just shy of $36,000 for the year. However, we increased the budget for 2016 because of where we have chosen to spend the majority - This Summer in The Black Hills of South Dakota, and this coming Winter in Gulfport, Mississippi (with a two week stint at Christmas to Key West, Florida)

We had a very inexpensive summer in the Black Hills in 2014 by serving as campground hosts at Angostura State Park. We got free RV site and free entrance into nearly all of the attractions in that area. It was great!


Good travelin !...............Kirk

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Kirk & Pam's Great RV Adventure
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