My wife and I are just under two years from retirement. Our plans are to sell our home and most belongings and travel in a fifth wheel. We have just returned from touring several manufacturers in and around Elkhart In. and have narrowed our selection down to three. We currently have a 2014 BC 3650 RL and this is our third RV so we are not new to the lifestyle. My question and or concerns are with regards to cost, budgets and other experiences some of you could share with us on what to be prepared for. I will say the RV will be financed because it would be our main tax deduction. We also plan to have a business as we travel conducting wildlife and nature photography programs. This will allow us to deduct some of the travel expenses associated with the business. Our income will be from my retirement as a paramedic for 40 years and my wife being a RN for the same amount of time. Our gross 401k and retirement should provide approx 65,000 per year. At 62 (2 years from now) we plan to apply for SS this will increase our gross to approx 98,000.00 per year. This may sound like a lot of money but, taxes and healthcare insurance and other cost have not been deducted. I estimate the RV payment will be around 650.00 month my truck 2016 Dodge Ram 3500 diesel should be paid for. Based on this information and comparison to your budgets and income. Should we do this. Are we making a big mistake? Any assistance, guidance, recommendations are appreciated. My email is brw549@bellsouth.net if you wish to contact me through that method.
Billy and Cathy
Billy and Cathy