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Do you know anybody that...

Discussion in 'Money Talk$' started by Alcott, Apr 22, 2017.

  1. Alcott

    Alcott Well-Known Member
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    ...when he or she got to retire, sold the house (if owned one) and just about all furnishings, appliances, and effects, and lived a nomadic (I suppose it may be called) life style? I'm thinking about that for myself, but I can't say I'm to the 'serious' stage of thought on it.

    But I have a hunch within the next couple of years, or so, I'm going to have greater problems with my twice-replaced hip, and likely enough other health problems, perhaps related to old habits, and maybe I'll get SS Disability, though I know better than to count on that. But selling the house and everything of significant value, less all the expenses in doing so, would bring in 110K to 125K [best guess], so with retirement accounts I would have 230K to 260K to start this. I know of a few places in my town that still operate like old rooming/boarding houses, and with these type of quarters I would expect to pay $500 to $800 per month, and I don't really know, of course, whether boarders can cook in their rooms, have den or playroom privileges, and all that. But I would not expect to stay in the same place too long-- that's one thing I have done that compels me to do otherwise when it's possible. But I probably wold extend just from Texas to Arizona.

    If anybody is already thinking I'm flipping my lid to think of unloading a house and taking the risk of living within a budget and being content with almost no assets except funds and a car, consider it from the perspective of being alone, with only distant family ["distant" more in contact than in mileage], having a lot of things I would like to get rid of now-- the house and its problems and insurance, property taxes, the yard to be kept, a bedroom and an outdoor building full of junk... a dramatic change to an easier way of living is quite attractive.

    Maybe too attractive. I suppose that's why I'm posting a thread like this. If you do know anyone who has tried something like this, how did it all work out? Undoubtedly there will be unexpected situations and unexpected expenses, and with expected frustrations surely there will be the unexpected kind of those, too. But if those frustrations were not here as I am now anyway, I'm sure I wouldn't give this idea much consideration. I certainly cannot afford an RV, as a lot [most?] people who try anything like this have, nor have I ever really wanted one-- why pull your own dinky motel room on the road with you when in the long run it's more expensive than using cheap motels?

    Perhaps the biggest risk of going through with this would be that it's irreversible. The house in which I grew up, and in which I live now, will be gone, and if I decide I like the idea of having my own home after all, I could only buy some old cottage, if that. Nevertheless, getting rid of the stuff we "can't take with us" (to our heavenly home) now does seem inviting. And since I can't expect any relatives to take me on as an 'Uncle Charley,' this may be my shot at making up for a lot things that just didn't go my way in this world.
     
  2. Rob_BW

    Rob_BW Well-Known Member
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    I don't see any nomadic life in my future. Seems outrageously expensive to me. I gather you're in Texas? I guess retirement in a state that gets its revenue from property taxes instead of income taxes can be problematic. I would expect my income in retirement to go down, while property values will continue to rise.

    Another consideration is how healthy you can be on the road. I'm only 37, and have to really watch my eating habits when I'm on extended trips. It's all to easy for my belly to swell up from too much eating out or trying to make meals in a hotel room.

    The wife and I have discussed downsizing in retirement. Once the kids are gone, a smaller house in a community that offers lawncare seems very inviting.

    But eithet way, purging out some accumulated stuff always makes me feel better. It's about time to clean out my garage again, and whatever I can't give away on the neighborhood Facebook page will go to the dump.
     
  3. InTheLight

    InTheLight Well-Known Member
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    I don't know anybody that has done this but I can sure see the attraction to the idea. Of course the main worry is that you'd run out of money. I guess I might try doing this for a month or so--see if you really like it and see what your expenses would be.

    Sent from my Motorola Droid Turbo.
     
  4. Rolfe

    Rolfe Well-Known Member
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    Welcome to Middle Age. It is all downhill from here. *laugh*
     
  5. annsni

    annsni Administrator
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    That is our 10 year plan. Sell the house, sell the cars, sell the stuff and move onto a boat and travel for 5-7 years before we move back to shore and sell the boat. We'd like to do it before we can't physically do it anymore. The boat would not be our current sailboat but a very nice trawler that is more home-like than my house. :) I fell in love with it a few years ago when I saw the dishwasher and Viking stove and we've been in touch with the manufacturer - and the president of the company is working on softening us up to buy a boat. Who knows - maybe by that time we'll buy his that he is currently building! :D But if you want to see the boat I fell in love with, look up Kadey Krogen 52.
     
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  6. Alcott

    Alcott Well-Known Member
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    That seems attractive, too. But I've never had any kind of boat before, even though I've always been into sea novels and stories, and I learned about tacking and reefing, how to tie the different kids of knots, and as a youth one wish was to be a celestial navigator. I've certainly heard of 'living on a boat' before, but does that mean really living on it, through all the storms, the cold,the maintenance and repairs, et al?
     
  7. annsni

    annsni Administrator
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    All of it. We currently have a sailboat (a Catalina 42) and we will live for 3 weeks each summer on it. If we were to get a hurricane, we'd hurry home, get on shore and secure the boat as best we can but once we are living aboard, that is where we will stay unless we are in grave danger and have a place to go. The repairs and maintenance we do all the time and for the cold, we will have a house that moves with the seasons: going north in the summer and south in the winter. No need to be TOO cold (as in be around snow) if we are on our boat. :) So yep - this would be full time living on a boat.
     
  8. after5cst

    after5cst New Member
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    My parents (who are now in their 80s) do all of the above... except the nomadic lifestyle. The finances can definitely work. The reduction in "stuff" comes to be a blessing. The ability to call somebody else for repairs and other issues with the property is very nice to them, as well.

    The nomadic lifestyle would present several challenges:
    • Medical expertise. As they have aged, the ability of their doctors to *know* their medical history and develop a level of trust has been a big bonus. The doctors work within their limited budget, providing help "above and beyond" what a newer patient would receive.
    • Community support. Again, it's good to have people you know in the community. Whether it's getting a hand moving furniture, asking about recommendations for a plumber, or even just being aware of what opportunities are coming up, it's a lot easier to get little pieces of help when you have a longstanding relation with others in the area.
    • Spiritual support. From my viewpoint (not my parents) after a number of years and a number of moves, one of the things that is difficult in a new locale is finding a like-minded church. Others may find this less important.
    In short, nomads run the risk of being lost in society. If you're in your 20s, that may or may not become an issue. But as you grow older, it is my (observed) experience that getting lost in society carries a lot of drawbacks (and risks).

    The house thing can create some hassles later in life, as well. My parents have had to move twice in the last half-dozen years, because their landlords have decided to do something else with the property. Moving is a headache in your late 40s (where I am), but in your 80s, it can be a significant hassle.

    SUGGESTION:
    If you become serious about a minimal lifestyle (nomadic or not), I would suggest you consider finding a good property management company, and lease your home out for a year. That way, you have a little bit of income from your home, and have an easy way to "undo" your change in lifestyle after the lease expires if you discover it wasn't all you hoped it would be.
     
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  9. Mike Stidham

    Mike Stidham Member
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    Flipping your lid? If so, call me crazy too! I'm maintaining my mother's house now while she's in senior living. When the day comes that I either have to sell it because she needs the $ for more specialized care or because she dies and the place isn't worth bringing up to code, my wife and I are thinking about doing the same thing!

     
  10. Salty

    Salty 20,000 Posts Club
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    So will your boat be a church on Sundays for those on the open seas?
     
  11. kyredneck

    kyredneck Well-Known Member
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    I retired in 04, but I'm like a white tailed deer, got no desire to roam no more than a two mile radius from where I was born. Everything I love and am close to is right here, my Dad, children, grandkids, churches, homestead, friends, and other things. In fact, I probably have some sort of phobia of leaving home.

    OTOH, my older brother and his wife, both retired for years, have unexpectedly to everyone, sold most of their possesions and trying to sell their retirement community home in SC and do just that, go nomadic. Blows my mind. They both have health problems and need to have dependable health care.

    What is it? End life crisis?
     
  12. annsni

    annsni Administrator
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    Yep!! If there is a good church within easy traveling distance, we would go there on Sunday but even now when we go on vacation, we have our own service on the boat. New England has very few good churches and the few we've gone to have not been that great. Edgartown, Martha's Vineyard had a good church plant last year that we very much enjoyed but other than that, we've not found a good church for us to walk to/cab to/bus to in the last 25 years.
     
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