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Anyone full timing on 25000 a year?

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Oh, yes. It's MORE than possible! Bill and I live on $18000/year and as long as we are careful, we do alright. Put as much as you can each month into a savings account (how much you save depends on how much you are willing to sacrifice) because major RV bills happen.

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So great to learn from everyone....We are also in the planning stages, and working hard to pay off debt. We bought our 5th wheel toyhauler new, and had lots of negative equity from other past purchases rolled, in, but we were able to order exactly what suits us. Hubby snores really bad, so we wanted two private sleeping areas, and since we ride a motorcycle, we needed a garage. We choce a 2013 Work N Play 34.5 5th wheel toyhauler. We decided to compromise on indoor space, to get this well made rugged camper. One thing we love is the one piece metal roof...no more worrying about Rubber roof upkeep...also, since the factory built it for us, we had them flip the axels so we have greater ground clearance...they also hard wired a surge protector into the unit, and built a hard wall in the overhead sleeping area. The garage can hold 7,300 lbs, so we can put both a full size motorcycle and a mini car like a Honda Fit in it...the best part is we were able to order it with a goosneck hitch, so that we don't lose any space in the bed of our pickup truck, and it tows extra stable, since its low profile. Our tow vehicle we also ordered, since hubby knew exactly what he wanted...2012 Dodge Ram 2500 Diesel 4x4 with a MANUAL transmission and only a TWO door cab...again, not the most popular truck (we could not find one on the resale market), but we were able to put in a 45 gallon diesel transfer tank and tool boy in the bed, still have plenty of clearance to tow! Needless to say, this rig set us back about 85K which for us is quite a bit, but again, not for everyone. So the plan is to work anothe two years, get it all paid for, including the 1.5 acre RV lot that we are purchasing in the Blue Ridge Mountains to be able to use as a home base...our only undecided part is if we should sell our double wide manufactured home in Central Florida (in a 55+ community) and hit the road "full time" or keep the home in Florida as a winter home, and travel the rest of the year. My thinking is that I want the freedom of not being tied down, and would be just as happy selling the house and putting special art/etc into a small storage facility and really give the travel a fair shake...maybel we will compromise and try the 6 mos travel the first year then re-evaluate! Sorry for the big post...but my goal is to have a steady retirement income of about 36K per year (I will have retiree medical insurance for us both at a minimal cost)

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After spending about a week at our new RV lot, we are really leaning toward selling our S&B when we retire! Yes, I can really scale down and have the freedom! My company is offering extended leave of 6 weeks at 80% of pay for tenured employees, and I'm going to try and make that happen to test drive things! All the planning is paying off!

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As long as you have health care covered, the sooner you go the better off you will be physically and mentally. There is nothing like the feeling of freedom from stuff, worry, work, stress.

 

Barb

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Yeah, well that health care issue is a big issue for most. It is for us. And I only anticipate it getting worse, and more expensive. Far more expensive from what I am seeing. (That is not political or an invitation to "go political"). It is a statement of fact.

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When you read about Sue, you should notice the size of here rig. Then you can see why she does it for less. Size does make a difference. Work camping and volunteering will always help with the expenses

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Yeah, well that health care issue is a big issue for most. It is for us. And I only anticipate it getting worse, and more expensive. Far more expensive from what I am seeing. (That is not political or an invitation to "go political"). It is a statement of fact.

I'm glad you understand the new health care thing, because I have no clue what to expect. And when I talk to most people neither do they.

 

Dave

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I'm glad you understand the new health care thing, because I have no clue what to expect. And when I talk to most people neither do they.

 

Dave

I don't have to understand the details to know it is going up. EVERY study, including the Governments own study, indicated a large rise in premiums. So, while I have no clue what to expect for details, I do see enough evidence to believe the premiums will go up. I can only "hope" that coverage goes up as well.

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Thank you Jack for your healthcare cost statements, and for making them non-political It's the healthcare issue that's forcing me (and maybe others out there?) to consider early retirement and full-time RVing.


As an ultra marathoner and triathlete who happens to be age 50, beginning in January 2014 I will no longer be permitted to purchase catastrophic health insurance and must purchase a bronze/silver/gold/platinum plan which, according to the ACA Subsidy Calculators, will cost (at minimum) half my rent. Ironically, by retiring I will be eligible for "free" (taxpayer-funded) healthcare through the expansion of Medicaid (Medi-Cal here in CA).


Although my pension won't be that great, I paid cash for my Roadtrek and, like you and Danielle, throughout my entire life I have only purchased that which I can afford. No debt whatsoever. Makes it really easy to pick up and leave when life situations/economic realities unexpectedly change!


Check the ACA Subsidy Calculators to estimate your monthly costs (based on the "Silver" plan), beginning in January 2014. Some states (including mine, California) have posted their own calculators as well.


Henry J. Kaiser Family Foundation



UC Berkeley Labor Center National Healthcare Calculator



Covered California (for California residents)



Many of my colleagues will save a *tremendous* amount of money each month with ACA. However, for me, it's going to be prohibitively costly.


Thanks again,

--Rachael

Edited by rsmithey

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Rachael,

 

I'm not sure I understand. You are saying that it will be prohibitively expenses in one sentence and in another you say it will cost you nothing? I used the links and put in different combinations and even for a single person with a pretty good income the rates seemed better than what friends had to pay for coverage when they retired early.

 

 

Barb

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Hi Barb,

 

At age 50 I currently pay $138/mo for catastophic coverage ($7K deductible). Beginning January 2014 I will no longer be eligible to puchase catastrophic coverage due to my age, and will be required to purchase a more comprehensive (and much more costly) bronze/silver/gold/platinum plan (approx. $400/mo based on the income from my two jobs).

 

I do not have employer-sponsored healthcare as a part-time employee at my two jobs, and I'm not a big "consumer" of healthcare as I am in better physical condition (I'm an ultramarathon runner and triathlete) than most Americans half my age. For me, it makes better financial sense to collect my small pension from my previous career, become a full-time RVer to reduce "rent" costs, and "go on Medi-Cal."

 

Yes, for many people my age and older (i.e. too young for Medicare), the ACA (as you've seen in the calculators) will provide tremendous savings vs. what they're currently paying. For me, however, this is not the case :(

 

--Rachael

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I've already felt the increase in premiums and co-pays. Enough so that it actually affects my decisions to see a doctor or not. Co-pays are going to go up, no stopping it since those are set by medicare. My question is how will this affect us on the bottom line when compared to other expenses?

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What happens to all the people on Gov funded medical ins. if the system goes broke. Same if you are on SS or SSDI what happens to them. Are they just left to fend for them selves.

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Rachael,

 

At 50 you've now reach the point where genetics will start to play a big part in how your body ages. Hopefully you choose your grandparents well and you physicial fitness will help diminish the effects of aging, but it is going to happen to all of us over time. You've reached the age when one starts to have more tests each year to try and catch things early - like your first colonoscopy usually in your mid to late 50s. Getting tests covered and people to have them helps identify problems earlier when they can be addressed quickly and severe health problems avoided. Catastrophic insurance wasn't designed to cover those tests and thus people often put them off with the result of people have illnesses that could have been handled easily if found early, but that will be extremely expensive if caught later. So one of the strategies is to get people covered and get a pattern set for testing and early treatment to keep overall costs down. And yes, for some people it means that they will pay more now to get a lot more people covered so that overall costs will ultimately go down.

 

And I have to tell you, even at $400 a month, that is very reasonable compared to the costs that some of our friends have paid for individual policies - upward towards $1000/month.

 

Barb

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I'm not commenting on what is good for society in general...since that would be political. I happen to agree that our health care system needs revamping. How is the real question.

 

I'm simply commenting that MY insurance is increasing substantially. And I am being forced into policies that I would otherwise choose not to pay for. My costs are already the single biggest chunk of money we spend each month. More than the cost of fuel. More than the cost of food. Were I not aging as fast as I am ;) I can see the time - based on current data - that I would have to take a job JUST to pay for required health care costs. But I will likely get to Medicare before that happens.

 

So to go back to the original question...can we live on 25K right now. Yes - pretty handily. But probably not in the near future.

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What happens to all the people on Gov funded medical ins. if the system goes broke. Same if you are on SS or SSDI what happens to them. Are they just left to fend for them selves.

 

 

With apologies to DirecTV . . .
If the medical insurance system goes broke, the USA is in big trouble.
When the USA is in big trouble, it starts a war.
When we start a war, industry booms.
When industry booms, the economy grows.
When the economy grows, medical insurance isn't broke anymore.

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Thanks Barb for your insightful response. I'm beginning to think I'm an anomaly - I currently pay out-of-pocket for my wellness checks - also for my three dogs (no, we don't share the same doctor ;) What has "thrown me for a loop" so to speak is the unexpected astronomical (to me) rise in a fixed cost, over which the only control I have is to work less/retire. Maybe it's a good thing that the work less/retire decision is being made for me, otherwise I'd be one of those saying each year "I'll work just one more year..."


I know it's easy to be an "armchair philosopher" but I believe I can FT in my Class B on well under $25K (I already live simply, aboard a boat), and find great inspiration from the posts here and on other sites such as RV Sue and Her Canine Crew. I'm continuing to spend a great deal of time on the forum, reading and learning, and I'm truly appreciative of everyone sharing their knowledge and experience.


--Rachael

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Rachael,

 

How much do yearly Paps and Mammograms cost you out of pocket? Most insurance covers that with a small co-pay. How much would a colonoscopy cost? Most insurance covers that. How much do you pay for office visits - most cover that with a $20-$30 co-pay. I would suggest you add up what out of pocket expenses you will have and then look at how much it will be with insurance. It might not be as much as you think and also in case of a serious illness you wouldn't have to reach your $7K threshold before insurance kicked in.

 

What about just working one job for awhile as you make the transition?

 

Barb

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Barb, with all due respect, your costs and basic premise simply have nothing to do with the reality I live. I have catastrophic insurance. 10K deductible. It covers NONE of the the things you note. (Not that I need a mammogram ;)) EVERYTHING I pay is out of pocket unless it is over 10K. Granted, that is my choice and is a balancing act between a lower limit (say $2500) and my expenses. And for this I pay a considerable amount. If forced to buy a policy which covered everything under the current medical system (before affordable care act), including well doctor visits, and prescriptions, comparable to what I had when employed, I would have to take a job to afford it. That would cost me well over 12K a year just for ME. IF I could find someone to take me. And I am relatively healthy, with only controlled high blood pressure. That would approach 50% of what we both live on - and that is just MY insurance (we have separate policies).

 

Things WILL improve from a benefit perspective with the new laws. At least as far as I can understand them. But it WILL cost me more. Any way you figure it. It is not just about costs though. Preventative care is a good thing, and I do that now. Out of pocket.

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How much would a colonoscopy cost?

I had one done in Feb. this year.

Doctor Billed $3,370.00 Medicare approved $447.61

Anesthesia Dr. $1,529 Medicare approved $229.68

Pathology Dr. $1,060 Medicare approved $151.80

My out of pocket $0

 

No insurance could cost you $5,959 with medicare $829.09 no supplemental Insurance out of pocket $165.82

Above didn't include the Dr. pre operation Office call of $200 Medicare paid $115.84 no insurance $23.17

 

My monthly out of pocket for premiums

Medicare $104.90

Supplemental F $307.25

Part D $45.70 plus co pay each prescription from Free & $5 to $41

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Jack,

 

You're making my point. Obviously I didn't make it clearly. When someone has a catastrophic policy and is looking at a regular medical insurance policy, it looks like it is a huge difference, but once you realize that some of the current out-of-pocket costs are covered by the insurance then it doesn't seem so large, plus once routine preventative costs are covered people are more likely to get them done and this in turn can catch things early when they can be cured.

 

And I'm not sure that it will cost you more if you factor in the costs of test you are now not getting or increased office visits that most people will do to have things checked out, such as all of the little 'age' spots that start appearing as one becomes 'more mature'. :lol:

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When someone has a catastrophic policy and is looking at a regular medical insurance policy, it looks like it is a huge difference, but once you realize that some of the current out-of-pocket costs are covered by the insurance then it doesn't seem so large, plus once routine preventative costs are covered people are more likely to get them done and this in turn can catch things early when they can be cured.

 

And I'm not sure that it will cost you more if you factor in the costs of test you are now not getting or increased office visits that most people will do to have things checked out, such as all of the little 'age' spots that start appearing as one becomes 'more mature'. :lol:

Oh, you were clear. I'm NOT disputing the benefits of a medical system that services all, and covers preventative care. From an economic perspective you can make a pretty good case, that PROPERLY RUN, such a system saves the total economy money. And serves the people far better. Eventually I am confident that the US will approach that, despite Congress. Not in my lifetime, though. The USA, as much as I love it, is FAR behind the rest of the world in many areas - this being one important one. One only has to live elsewhere in the world some to see how far behind the US is in certain areas. Not every area - but some important ones.

 

The issue is increased personal costs. I assure you even taking into account my out of pocket expenses I will be paying more. Perhaps for better care - that is the assumption. But it WILL cost more and it WILL impact my quality of life if I do not take from savings to augment the cost. I'm not complaining - YET - we will see how it all works out. Will the average person benefit? Probably. Assuming there are enough doctors. Which right now there are not.

 

Personally, if I was in one location I'd prefer to move to a concierge-style medical practice. But on the road that does not work.

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No one seems to be addresssing the fact that, due to changes in the payer systems, there will be fewer health care providers in the future. We are already seeing a mass exodus of physicians retiring early or closing their practices because they can no longer afford to keep them open. The aforementioned colonoscopy breakdown is a good example.

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...How much would a colonoscopy cost? Most insurance covers that...

I had one five years ago and my copay was $200.00. There was also a $35.00 copay for the pre-procedure visit and $15.00 copay for the lab work to check liver function before anesthesia. I doubt the costs have gone down in five years.

My monthly out of pocket for premiums

Medicare $104.90

Supplemental F $307.25

Part D $45.70 plus co pay each prescription from Free & $5 to $41

That comes to $457.85/month; $915.70/month for a couple which is $10,988.40 a year. $25,000 - $10,988.40 = $14,011.60 for all other expenses. Could DW and I live on that? Probably, if we had to; but there is no way we could travel in the RV on that amount and actually go much of anywhere other than from one work camping/volunteer gig to the next.

Edited by trailertraveler

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My doctor who tossed me out is in the process of quitting, she bounced a good part of her practice a few months back based on how much aggravation and how poorly their insurance paid out. TRICARE (Retired Army) didn't make the first cut and she dumped the lot of us.

 

New doctor isn't overjoyed to have us and our insurance and we are trying very hard to be his favorite patients in hope that we won't be dumped again.

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