How much money do you need?

[tick59]

How much money do you need to go fulltiming? I work as an HGV driver have a morgage and a motorhme.The morgage will be paid when i am 65 six years to go. I dont wan't to work untill i am 65 but i suppose i will have to. I would pack it all in tommorow if i could afford to do it. But with no income how could I ? The wife is also of the same mind. Our kids are grown up and live there own lives and are not botherd about an inheritance my parents left me nothing so why should I leave my kids something?

 

[moandick]

How much does full-timing cost?

I reckon it might cost more than you believe - but from my four years experience it is roughly this:-

per month..... £500 site fees at least and you may have to pay extra for Electric
£600 food and drink
£100 servicing, mot, maintenance
£100 RV Insurance & road fund licence
£200 fuel - obviously dependent on milage
£100 car costs, at least

In total approximately £1600 per month without too many luxuries

Very broad ball park figures but not too far out, in my humble experience :Sad:

Then again I haven't included a clothing allowance for the missus oh:

Dick

 

[kijana]

Mo and Dick have much more experience fulltiming than we do - we've just celebrated our first full year.

But our costings agree very closely with theirs. We have kept careful accounts, and reckon our first year has cost just over £20,000.

Where possible, we've tried to exclude capital items from this figure - so it doesn't include equipment bought as a one-off.

Our breakdown would differ a bit from Dick's. We spend less on campsites, since we spent summer in France on aires, and tend to stay long enough on campsites in Spain to get good discounts (we're paying just over €300/month + electric here on the Costa del Luz). But we seem to spend more on food & drink: this despite the fact that we rarely eat out and never drink in bars.

So I think it would be unwise to assume that just because it's sunny & you live in a motorhome that you can do it for peanuts.

Having said that, there are those who have far greater experience than I who say you can, so I can only relate what we've found. I guess if you wildcamped all the time & ate beans on toast every day you could spend a lot less!

As to selling your house to fund your travels, that's what we did, & sod the kids. They're around 30 now, so even if we only last another 20 years they'll be 50 odd before they see any inheritance. And if they haven't made it on their own by then they've left it too late!

Bruce

 

[Supertractorman]

As an HGV Driver why not do a bit of casual Driving in your travels to make a bit of cash. There are many companies looking for Holiday Relief Drivers and some even may have a far corner in the yard where you could park up. I intend to use my HCV / PCV this way as long as I can especially leading up to Christmas when the extra cash would be handy and its those long dark nights.

David

 

[johnsandywhite]

:Cool: As a Full-timer and a retiree of over 11 years with one more year to go before I receive the basic State Pension I am still keeping my head above water and in the black. I have 2 houses, one of which still has a mortgage. We receive a small rent from each of the 2 houses by renting to family. I have a small miners pension that I have been receiving since I was 50. I reckon we have around 8000 to spend each year. Any capital I have has been used over the last 11 years to buy RV's, Motorhomes et al. I still have a small amount left in Isa's and a PEP. We live a good life travelling Europe and the USA. It is NOT a BIG Holiday. It is a way of life. We have seen many sell up and go to live in Spain. They act as if they are on holiday. Usually within 2 or 3 years, they have spent up and gone back to the UK or are struggling to find work to carry on the lifestyle.

May your travels be many and your troubles be few.

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[freakylady]

hi
am just trying to figure out the cost of partial full timming - ie three months or so over the winter spent in southern france...

would you still stand by the figures posted above or has the credit crunch changed those figures?

and how frequently do you move around? whats a typical week cost?

thanks

 

[Marrwyck]

Hi everyone.

Well we decided to buy a Motor Home & give Full Timing a go.
At the grand old age of 46 & er indoors a tadge older, never ask a lady her age, lol.
I gave up being a Class 1 HGV driver & she gave up her job, we have sold everything we owned & have just passed the 2 month stage.
I'm really careful & can survive on all basic needs buying only what I class is required to survive.
I use all our resources to the best of their advantages & to their full potential.

This isn't a holiday, it's an opportunity to travel & do what you want.
I feel it can last as long as you want it to & if you don't know it's because you never asked, if you knever asked then you don't know

We were both fed up with the rat race & we decided to do something about it.

Who know's, tomorrow may never come. But hopefully not until we've travelled europe & been back to the USA :thumb:

Whatever you decide, enjoy it & relish the experience.

 

[thehutchies]

Have a look at this family:

blog

travelling and living on 25,000 US dollars a year

 

[artona]

Hi

Where was it first written that a man who has a penny more than he needs is a happy man. No reason why it should not apply to fulltiming.


stew

 

[Thepips]

Hi

Where was it first written that a man who has a penny more than he needs is a happy man. No reason why it should not apply to fulltiming.


stew

Annual Income £20, Expenditure £19/19s/6d, result happiness.
Annual Income £20, Expenditure £20/0s/6d, result misery.

Dickens. Mr Micawber I think

Regards
Doug

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[artona]

Hi Doug

You are in good company with your knowledge. Just asked Shona and she said exactly the same. She then went on to say she had never read it, so just how does she know so much lol.

Me - I did not have a clue


stew

 

[Wildman]

Hi

Where was it first written that a man who has a penny more than he needs is a happy man. No reason why it should not apply to fulltiming.


stew

Charles dickens quote by mr Mcawber in Nicholas Nicklby.

The answer to your question as a different as the number of people telling you. I've just read of a site in Germany £100 per year inc waste, water and electricity, add to that food and running cost and it is very low compared to prices quoted.
You could rent out your property and live off the income. Not all dreams are in a ginormus expencive to run ARV, can be done in a much smaller van depending on your needs. It is you who decides what to eat and drink, fish supper or caviar, your choice to suit your budget. Decide your own lifestyle and budget for that. Cheaper and easier overseas.
Good luck, do keep us all informed:thumb::thumb::thumb:

 

[RuthRv]

I think that figures quoted by those who have full timing experience must know what they are talking about, I admit that I have seriously thought about it, do most full timers also do some work, ( i know artona does, and moanddick) but how many others of you out there also have to substitue your capital, after all unless you have lots of money then at 1,600 per month ball park that would soon eat into your capital over time,i now receive my state pension (full) but i am still working full time, but even though i no longer pay national insurance this bloody government take my pension off my persnal allowances then tax everything i earn at the higher rate of tax, now i understand them taking the pension of my personal allowance, but i have paid tax on this money over my many working years, and now they tax it again, i also have a small pension from the bank which before i reached 60 was not taxed now it is to the tune of £47, now not paying NI which gives me an extra £74 a month, but i am losing more than this because of tax, yes i am still better off continuing to work, but if the goverment didnt tax me as well i would be better off still, i sent an e-mail to DC abut the tax that pensioners who work are having to pay,and suggested that has we had all paid our dues, then why not tax our working income at 5p in the pound thats better than nothing! but don't hold your breath.

after reading how much it costs to go full timing, i have had a rethink, and have decided that we are better off staying where we are (Park home) and just taking longer holidays when eventually we do retire, but even then we reckon that we will both have to work a couple of days a week to be able to go on long holidays, if only i could win the lottery all problems would be solved
ruth

 

[johnsandywhite]

:Cool: This is one of those 'How long is a piece of string?'. Some need at least £20,000 a year to live on. Some like ourselves seem to manage on £8000 (more or less).
We are in our second year of being ensconced on a camp site in Spain which cost us this year (after exchange rates and ATM charges) £4,400. We have a Kontiki for commuting. We have been retired since October 1996. I calculated that the way we were living in Spain and what we had in savings, investments and income. That it would last us until I was 65. I will be 65 in December. We still have funds left. Even after buying several Rv's, cars and Motorhomes.
I guess my string must have been stretched a little?
Whatever you decide? We hope you have MANY travels and FEW troubles. Happy Rv'ing

 

[johnsandywhite]

hi
am just trying to figure out the cost of partial full timming - ie three months or so over the winter spent in southern france...

would you still stand by the figures posted above or has the credit crunch changed those figures?

and how frequently do you move around? whats a typical week cost?

thanks

oh: Looks like I forgot that I had previously posted in the first page of this thread. :Blush:

Not to worry. As I have just mentioned above. We are now on a camp site with our USA RV. But have our Kontiki for commuting. We have travelled back to the UK twice each year for the past 2 years. We use the Kontiki occasionally for visiting friends and the odd shopping trip while in Spain. In the past. We had 7 years of touring. Both in Europe and the USA.
We buy fresh Fruit and Veg from the local open air markets and stock up with the essentials in the UK. The rest of our weekly shop is done at Lidl.
We usually go out at least once a week for a meal with our Dutch friends. Mostly the cheapo Chino.
Our weekly shop costs around £30 and spend up to £140 on stock before leaving the UK.
Since the exchange rates went against the UK (and of course ATM charges - better changing cash at the exchange). Our camp site fees have increased quite a lot from £3,800 to £4,400 for this year.
We mainly use bikes for getting around. Good for the pocket at well as the health.

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[Rose Royce]

after reading how much it costs to go full timing, i have had a rethink, and have decided that we are better off staying where we are (Park home) and just taking longer holidays when eventually we do retire, but even then we reckon that we will both have to work a couple of days a week to be able to go on long holidays, if only i could win the lottery all problems would be solved
ruth

DON'T let other people put you off. You will only become resentful if you don't go out and do something you wish to do. Give it a go and damn the consequences. Life is far too f*****g short, you could be dead tomorrow. GO FOR IT!!!:thumb::thumb:
That's flipping by the way.

 

[johnsandywhite]

after reading how much it costs to go full timing, i have had a rethink, and have decided that we are better off staying where we are (Park home) and just taking longer holidays when eventually we do retire, but even then we reckon that we will both have to work a couple of days a week to be able to go on long holidays, if only i could win the lottery all problems would be solved
ruth

You obviously haven't read ALL the posts from full-timers Ruth. Either that or you and Tony must have an expensive lifestyle? Believe or not? I actually get taxed on my measly £8000 too. :Angry::Angry::Angry:

 

[freakylady]

Thanks Johnsandywhite for your reply - it really helps to have a idea of weekly costs as weel as how much a year could cost - guess we'll have to think and plan it a bit but will keep you all posted if in a few months time we do manage to fuly the nest!!

 

[Don Madge]

Thanks Johnsandywhite for your reply - it really helps to have a idea of weekly costs as weel as how much a year could cost - guess we'll have to think and plan it a bit but will keep you all posted if in a few months time we do manage to fuly the nest!!

Hi,

I only part time but this site will give you plenty of info. MagBaz Travels - A to Z of Long-term Motorhoming the Williamson's have had a lot of experience.

Don.
Old age traveller.

 

[nomadic]

How much do you need to go full timing

How much money do you need to go fulltiming? I work as an HGV driver have a morgage and a motorhme.The morgage will be paid when i am 65 six years to go. I dont wan't to work untill i am 65 but i suppose i will have to. I would pack it all in tommorow if i could afford to do it. But with no income how could I ? The wife is also of the same mind. Our kids are grown up and live there own lives and are not botherd about an inheritance my parents left me nothing so why should I leave my kids something?

Hi,

Just returned to Uk after three months in europe and scandinavia, and read your post.

It can cost as others have posted, you may wish to consider a stepping stone method, as your better half is of the same mind...join the camping and caravanning club, and become an assistant on one of their camp sites for the season (approx six months a year) paid of course, which will subsidise the following six months, possibily in a warmer climate. This will help with the expenditure, balancing the books, nd giving you both a new lifestyle.

We have full timed for three years now, but managed campsites before embarking on the fulltime ride. Our downsized home is let under management by a property agent, costs but gives a small surplus after tax, and the bricks and morter are there when we return.

Go for it, dont hesitate

Nomadic

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[RuthRv]

You obviously haven't read ALL the posts from full-timers Ruth. Either that or you and Tony must have an expensive lifestyle? Believe or not? I actually get taxed on my measly £8000 too. :Angry::Angry::Angry:

hi john when i posted i was going off the ball park price of £1600 a month, which to me is expensive! full timing is not the be all and end all for me, but as i said i did seriously consider it,i am quite happy to be able to take longer holidays when we retire,that will work just as well for me
:Sad: everyone is taxed john over their personal allowances ,

our lifestyle is not what i would call expensive, but why should we do without if we don't have to, i work to live not live to work and if we have to work a bit longer to get what we want than that is what we will do.

The way things are going a lot of people are going to have to have a re-think i for one don't want to be sat at home because i can't afford to do anything else,and then die, so we will do whatever it takes to enjoy our lives and have FUN:thumb:

but at the end of the day it is whatever makes people happy that matters, as long as it works then thats fine ,each to their own

ruth

 

[Jan Pendreigh]

Hi
We have now been fulltiming just one year. We left the rat race at 62 (himself) and 55 years, we sold the bungalow and now have everything we own with us. We realised one very important thing about three years ago - your NI contributions after thirty-something years of work and paying in don't increase your state pension by one penny, so don't even think of slogging on until state pension age! We use cheaper CL and CS sites (now on a lovely one with superb facilities at £7.50/night) and the club sites in low season or for the winter camp and store bargains (Camping and Caravanning Club) which can be very cost effective. Our budget was £12/night for sites when we set out last year and we have actually spent £9.45/night in the first year. We invested the money from the sale of the bungalow and have a bit of interest every second month because we didn't invest long term, and we cashed our meagre personal pensions in and invested the lump sums and now take monthly amounts. Our monthly expenditure is well under £1,000 (excluding the beer, which is our choice and we love it), but including food, petrol for the car and rv derv, maintenance etc. Neither of us work.

We have never been happier and our only regret is that we didn't become fulltimers earlier than we did. Go for it would be our advice, and the best of luck to you. Hope we meet one day,
Jan and Merv

 

[Road Runner]

hi john when i posted i was going off the ball park price of £1600 a month, which to me is expensive! full timing is not the be all and end all for me, but as i said i did seriously consider it,i am quite happy to be able to take longer holidays when we retire,that will work just as well for me
:Sad: everyone is taxed john over their personal allowances ,

our lifestyle is not what i would call expensive, but why should we do without if we don't have to, i work to live not live to work and if we have to work a bit longer to get what we want than that is what we will do.

The way things are going a lot of people are going to have to have a re-think i for one don't want to be sat at home because i can't afford to do anything else,and then die, so we will do whatever it takes to enjoy our lives and have FUN:thumb:

but at the end of the day it is whatever makes people happy that matters, as long as it works then thats fine ,each to their own

ruth

Heh Ruth when life changes for us we can go out to Spain for the winters, you up for it? snakehips can come to:thumb:

 

[Road Runner]

What happens to fulltimers who have sold up everything and now living on it when the reach say 80?

Your bus willl have seen better days to.

I am being serious BTW

 

[Terry]

Hi all, I have come up with some math's
this is all ISH
sell HOUSE ETC, 250k
buy/upgrade van 30k == 220k
first yr 20k == 200k

invest /bank @ 6% 212,000k
yr 2 -16k ===196k plus 6%
207760
yr3 -16k ===191760 plus 6 %
203265
yr4 -16k == 187265 plus6 %
198500
yr5 -16k ==182500 plus6%
193450
yr6 - 20k == 173450 plus 6 % inflation on costs
183858
yr7

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[artona]

Hi

I guess there will be a shop door to sleep in somewhere, or maybe a motorway to walk up and down.

No seriously John what you do is pop down your local council as soon as you reach 60 and point out to them that you are now deemed a vulnerable person and get housed in a nice OAP bungalow within a few weeks of asking.

Or what you do is get a nice room in a residential home because you have p*ssed all your money up the wall enjoying yourself and the govern. will pay to have you looked after. You then sit and remember all the great times you had fulltiming all over the world whilst you had the energy to do so.

Or of course you could be like the 80 year old lady we met recently who is still fulltiming in a romahome.

Who knows really and to be honest who cares, I have done enough worrying about things I can't control.




stew

 

[Road Runner]

Hi all, I have come up with some math's
this is all ISH
sell HOUSE ETC, 250k
buy/upgrade van 30k == 220k
first yr 20k == 200k

invest /bank @ 6% 212,000k
yr 2 -16k ===196k plus 6%
207760
yr3 -16k ===191760 plus 6 %
203265
yr4 -16k == 187265 plus6 %
198500
yr5 -16k ==182500 plus6%
193450
yr6 - 20k == 173450 plus 6 % inflation on costs
183858
yr7

Looks great but inflation is rocketing.

 

[artona]

Hi

Looks great but inflation is rocketing.

its the bottom line that matters John.

If you reduce your outgoings by loads you can handle the inflation. What use is the equity in a house if it always stays in the Bricks and Mortar - to the children I guess its handy


stew

 

[Terry]

Hi all, I have come up with some math's
this is all ISH
sell HOUSE ETC, 250k
buy/upgrade van 30k == 220k
first yr 20k == 200k

invest /bank @ 6% 212,000k
yr 2 -16k ===196k plus 6%
207760
yr3 -16k ===191760 plus 6 %
203265
yr4 -16k == 187265 plus6 %
198500
yr5 -16k ==182500 plus6%
193450
yr6 - 20k == 173450 plus 6 % inflation on costs
183858
yr7

-20k== 163858 plus 6 %
173689
yr8 -20k==153689 plus6%
162910
yr9 -20k==142910 plus6%
151485
yr10 -20k==131485 plus 6 %
139374 - 30k van upgrade
109374
yr11 -20k==893746 plus 6 %
947370
yr12 -20k==747370 plus6 %
792213 getting now
yr13 -20k==592213 plus 6 %
627745
yr14 -20k==427745 plus 6 %
453410
yr15 -20k==253410 plus 6 %
268615


you have to DIE before you get to 80 /75 / 70 / 65 if you want to finish at 50 kids get a 5 yr old van:thumb: the bit over is to burn you :thumb:
terry

 

[RuthRv]

Heh Ruth when life changes for us we can go out to Spain for the winters, you up for it? snakehips can come to:thumb:

hi john its a date, thats what we intend to do follow the sun in the winter, but still come back when we are ready to do so, once we retire we will have the freedom to choose when we come homeOnce snqake hips gets his knees done it will be john travolta all the way

Hi artona i do get what you are saying but you still work as well though don't you the thing is that me and tony already adapted our life style when we bought the park home, we don't have a mortgage only pay ground rent which includes electric, and water £76 per month!!! so we have the best of both worlds, mortgage free, and a villa in every country
like i said its whatever makes the individual happy:thumb:
ruth

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