What do you do to keep Motorhoming? (1 Viewer)

[Raybreck]

After just reaching the tender young age of retirement having sold my small business a couple of years ago and done the final stages of handover I got to wondering what others do to finance this great leisure activity. I for one have no great pension so start another parting job next to keep it going.
Ray

 

[ianthebuilder]

After just reaching the tender young age of retirement having sold my small business a couple of years ago and done the final stages of handover I got to wondering what others do to finance this great leisure activity. I for one have no great pension so start another parting job next to keep it going.
Ray

Sell the house, the car, the wife and even the kids,, move into your van and work your way round the world!! Then mate you can live the dream!!!! Lol

 

[pyro]

If you have a house, there is a thriving rental market out there. The rental income will keep you on the road (post tax, of course!) plus capital appreciation (being tax free) which will increase your nest egg.

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[Raybreck]

Hi Ian
After watching your escapades I think your right, but in which order? LOL
Ray

 

[Raybreck]

If you have a house, there is a thriving rental market out there. The rental income will keep you on the road (post tax, of course!) plus capital appreciation (being tax free) which will increase your nest egg.

Only problem is trying to get the misses away from the grandkids long enough but that really is another story. What with looking after them last two weekend plus this one coming up I'm bloody luck if I can get away after that, bless um?
Ray

 

[JJ]

I am able to live my dream because...

I selected a sunny country which I love, where the cost of living is affordable and the off-site locations plentyful and a small orchard in the woods was in budget and now, I potter around very happily, financed by paying NI insurance stamps for 45 years without missing a month.

A rich man does not have the most, a rich man needs the least.

JJ

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[pyro]

Only problem is trying to get the misses away from the grandkids long enough but that really is another story. What with looking after them last two weekend plus this one coming up I'm bloody luck if I can get away after that, bless um?
Ray

Ahh, the "gooey" stage, grandkids, etc, that is an obstacle to having a life for yourselves. A couple of nice holidays will probably help get things into a better perspective?

Trying to get a wife away from her grandkids is harder than getting a tax refund, in my opinion

 

[Stealaway]

The cost of being away in the van or staying at home for us is negligible. We always use Aires or wildcamp.
Possibly having a job through the winter would help pay the road tax and insurance so you can afford to spend the summer away.
Not paying for campsites would always make it much cheaper, there is just the price of fuel to find.

 

[Viennese]

After just reaching the tender young age of retirement having sold my small business a couple of years ago and done the final stages of handover I got to wondering what others do to finance this great leisure activity. I for one have no great pension so start another parting job next to keep it going.
Ray

If you have paid your mortgage, one option is equity release from your house to buy a van. After that, as has been said, you can let the house out. In Norwich there must be a good market with the universities - I don't mean undergrad students, but mature ones - researchers or visiting academics. In Oxford folk wishing to let often approach the accommodation officers for the universities, and let them manage it.

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[pyro]

If you have paid your mortgage, one option is equity release from your house to buy a van. After that, as has been said, you can let the house out. In Norwich there must be a good market with the universities - I don't mean undergrad students, but mature ones - researchers or visiting academics. In Oxford folk wishing to let often approach the accommodation officers for the universities, and let them manage it.

Good point. Worth exploring the options

 

[maison]

We are fortunate that we both had good paying jobs and that Mrs Maison paid half her salary into AVC's for many years.

I must say that there were times we would have liked to spend the money we were saving. Our friends spent freely and enjoyed their leisure (perhaps) more than we could afford. Holidays abroad, regular dining out etc saying that they might as well live for the moment.

That's one point of view.

We gambled that we would live to enjoy retirement when every day was a day off, not just two out of seven. Since retirement we have bought our base in France and used the motorhome to travel all over Europe.

Not for everyone, but worked for us. Heading off to Europe again this Thursday.

 

[pyro]

I must say that there were times we would have liked to spend the money we were saving. Our friends spent freely and enjoyed their leisure (perhaps) more than we could afford. Holidays abroad, regular dining out etc saying that they might as well live for the moment.

That's how we have planned things, live as we want, avoid the excesses and make sure we had comfort time ahead.

But there are many people who have put everything into so called "with profit" endowments now finding they have huge unpaid balances at the end of their mortgage, plenty of people have seen their pension schemes devalue or fold before their eyes, and are left with little to go forward with.

Equity release is one option, haven't gone into it that much, but I have known people do pretty well out of it. Property rental (professionally handled) can be a good earner, and used to finance that big dream trip. Downsizing is another option, how many of us need empty bedrooms once the kids have grown up?

I have known a few people who have sadly left it too late, and a health problem or two has cropped up to destroy their dreams. I suspect a good few people here would have a view on this, and I will be interested to hear what others think

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[Dave K]

That's how we have planned things, live as we want, avoid the excesses and make sure we had comfort time ahead.

But there are many people who have put everything into so called "with profit" endowments now finding they have huge unpaid balances at the end of their mortgage, plenty of people have seen their pension schemes devalue or fold before their eyes, and are left with little to go forward with.

Equity release is one option, haven't gone into it that much, but I have known people do pretty well out of it. Property rental (professionally handled) can be a good earner, and used to finance that big dream trip. Downsizing is another option, how many of us need empty bedrooms once the kids have grown up?

I have known a few people who have sadly left it too late, and a health problem or two has cropped up to destroy their dreams. I suspect a good few people here would have a view on this, and I will be interested to hear what others think

Leaving it too late is always my biggest worry, so we decided to sell our house I'd taken 11 years to renovate and downsized to a new build, it allowed us to pay a chunk off our mortgage and bought the motorhome, unfortunately because we're both working (we're late 40's) we don't use the van as much as we'd like but by freeing up some money it's made life a lot easier, i used to work a lot of weekends just for some extra cash because of bigger mortgage etc.
Retirement is a worry though, I'd love to think we can have some of the adventures like the threads I've read on here about months away in Europe, hopefully we can do it

 

[Chris]

I think ultimately I will need to sell my body.​

 

[Dave K]

I think ultimately I will need to sell my body.​

To medical science?

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[jessthedog]

I think ultimately I will need to sell my body.​

10 quid for a months work isnt going to go far

 

[Dave K]

10 quid for a months work isnt going to go far

You think he'll find 10 customers a month?

 

[pyro]

I think ultimately I will need to sell my body.

Probably to be held up as a bad example to others as to what can happen after years of alcohol abuse can do to a being. That's if there is anything left of you after this diet you've been on

@Dave K You've got plenty of time to make things up, your time will come round soon enough.

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[Dave K]

Probably to be held up as a bad example to others as to what can happen after years of alcohol abuse can do to a being. That's if there is anything left of you after this diet you've been on

@Dave K You've got plenty of time to make things up, your time will come round soon enough.

I don't know if others feel similar but the older I get the more I wish I had knuckled down at school and made the most of it, unfortunately for me sport was all I was interested in, I don't think any kid will realise the importance of education and life choices as a young adult, I know I didn't

 

[mitzimad]

going without to fund a retirement seems strange to me weve always lived for the day it was much easier to enjoy money when we were younger holidays with the kids were better than sitting in a marque with a hundred funsters

 

[chaser]

going without to fund a retirement seems strange to me weve always lived for the day it was much easier to enjoy money when we were younger holidays with the kids were better than sitting in a marque with a hundred funsters

That's how we looked at it , and when my wife died at 58 it wasn't wasted times, fat pensions were no use then, now me and Julie who was in a similar situation can easily afford to keep the van on the road with two state pensions as using aires doesn't hardly cost anymore than stopping at home once the van is paid for.

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[pyro]

Good point. Why waste your younger years, when you really don't know what is just around the corner?

Too late to change things now, wrong side of 60 (just) and I should be thankful that I have survived to make the most of what should be a more relaxing time.

 

[WhiteCheyenneMan]

Several people have referred to 'not knowing what is around the corner' and this applies to being retired just as much, probably more, when you're retired. I prefer to keep what's mine, simply because I don't know what's around the corner. So I won't sell up and live on the road, I'm too much of a pessimist for that! Nor would I go for Equity Release, simply because the way that the compound interest works, it won't be long before you owe all of the property's value and are left with nothing.
Renting a property out is a good idea, providing you allow for the maintenance, agent's fees and periods when it isn't occupied. If the property is large enough, downsizing is another good option.
But above all, don't compromise your future (may it be a long one!) and keep hold of what you have. If you're sure that you have more than you will ever need, PM me and we can exchange bank details

 

[Adbt]

Several people have referred to 'not knowing what is around the corner' and this applies to being retired just as much, probably more, when you're retired. I prefer to keep what's mine, simply because I don't know what's around the corner. So I won't sell up and live on the road, I'm too much of a pessimist for that! Nor would I go for Equity Release, simply because the way that the compound interest works, it won't be long before you owe all of the property's value and are left with nothing.
Renting a property out is a good idea, providing you allow for the maintenance, agent's fees and periods when it isn't occupied. If the property is large enough, downsizing is another good option.
But above all, don't compromise your future (may it be a long one!) and keep hold of what you have. If you're sure that you have more than you will ever need, PM me and we can exchange bank details

Equity release appeals to me because we have no children so the house being worth nowt on our demise worries me not one iota !

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[beltsandbraces]

I think ultimately I will need to sell my body.​

I struggle to give my body away let alone sell it!!!!

 

[Dave K]

Equity release appeals to me because we have no children so the house being worth nowt on our demise worries me not one iota !

We're the same, leaving money behind isn't high on our agenda either, I think the difficult part is not knowing how long to plan for.

 

[Adbt]

We're the same, leaving money behind isn't high on our agenda either, I think the difficult part is not knowing how long to plan for.

Its a toss up for us between downsizing to an apartment in England and spending 8 months a year away abroad or staying put and releasing money when we are in our early 70s ( a long way away btw ) . First world problem obviously !

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[Lorryman100]

We decided to buy the motorhome early as it was on the list of things to do once we retired but who knows if we will both be here in 15 years time. Friends and work colleagues have dropped down dead in their fifties, diagnosed with terminal cancer etc etc So I look at life for living in the moment and will let tomorrow happen whenever it appears and deal with it then. We are still fit and able just now and enjoy our time away in the MoHo, both have good salaried jobs and final salary pensions but for me 15 years is still to far in the future to worry about today. The only downside just now is that work gets in the way of our trips away but at the same time the cost is not a concern because we are both still working.

 

[Dave K]

Its a toss up for us between downsizing to an apartment in England and spending 8 months a year away abroad or staying put and releasing money when we are in our early 70s ( a long way away btw ) . First world problem obviously !

I've always been a bit 'live for today', I know it's sensible to plan for retirement but as many posts have said, you never know what's around the corner

 

[Jaws]

We just keep flogging stuff we no longer have a need for.. It covers the diesel costs any way..

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