New? Are you full timing on Social Security? - Fiberglass RV


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Old 11-28-2015, 09:28 AM   #1
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New? Are you full timing on Social Security?

Thanks Jim for closing the other thread!
I am looking for any of our members that are living on SS with a little savings full time in there eggs. Bouncing between BLM, federal forests, and other campgrounds. Using all there skills to live frugally.
Jason
PLEASE STAY On TOPIC!


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Old 11-28-2015, 10:12 AM   #2
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I do agree that this is a worthy discussion, Jason.

I know that Social Security (Or Canada Pension Plan) are government regulated bodies, but I too ask that nobody delves into the political workings of these plans, and instead sticks to the question that Jason asks, and that is how to camp full time in this situation.

I hate closing threads, but even more so hate when animosities rise due to political opinions being expressed.

Thanks.
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Old 11-28-2015, 10:13 AM   #3
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Again, and without the political comments (I Hope), the range for SS payments is so broad that you really need to provide an annual $$$ ball park figure that you will be working with. Otherwise you may be comparing apples and cannon balls.


Most retirees can live easily on the $7000 a month a couple could potentially draw if retiring at 70, but few can survive on monthly amounts that can be 1/10th that or even less, especially if they take early retirement at 62, and also have to pay for medical for a few years.


Because many retirees will also have multiple streams of income, (I have 4, all small and smaller) you might ask if it's possible to full-time on XXX dollars a year.



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Old 11-28-2015, 10:37 AM   #4
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AARP has a lot of useful information on retirement , retirement planning and retirement income .
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Old 11-28-2015, 10:43 AM   #5
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First step is to go to SS and ask them what you'd get at 62 versus 66.

Generally if you want to retire at 62 you may want to consider waiting to taking SS at 66 and live off savings for 4 years. Assuming the longer term you'll end up with more.

To directly answer, yes you can do it. You need to seek out the people who have done it and read their techniques.
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Old 11-28-2015, 11:17 AM   #6
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Plus (or minus) if you retire at 62 you will have to pay for your own medical expenses for 3 years, no small amount for insurance.


The whole question about what year to retire at will fill a large book.



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Old 11-28-2015, 11:41 AM   #7
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The real question I think is the cost of full timing vs the cost of living in an anchored home. We manage to snow bird partly because we don't have to heat our house to living temperatures in the winter. Full timing would mean that could go where the weather is moderate depending on the time of the year avoid the cost of air conditioning and heating.
There are lots of things you can do the save money while traveling. Camping fees are big expense that can be reduced by several methods. The first is getting a federal Senior Pass. Read about the benefits at one of the National Park or National Forest sited.
We save money by using National Parks, or National Forest campgrounds. You can save even more by using "dispersed" sites (no cost, but no water, or toilet, or showers).
A lot depends on what you feel you can do without.
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Old 11-28-2015, 11:49 AM   #8
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Plus (or minus) if you retire at 62 you will have to pay for your own medical expenses for 3 years, no small amount for insurance.

The whole question about what year to retire at will fill a large book.
We faced that question since we retired at 58. We paid for Cobra for 1.5 years and bought catastrophe insurance for the rest.

If you're paying attention ahead of time and take standard meds regularly you can collect an adequate supply ahead by explaining things to your doctor.

These days, particularly if you require generics from your doctor, meds are very inexpensive at Walmart. Most of the other providers are matching Walmart prices for generics..
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Old 11-28-2015, 11:49 AM   #9
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Knowledge is power

It is nice to have some savings prior to retirement so you then have the option of delaying taking SS benefits if you wish. The amount of additional annual SS benefits you receive will increase about 8% for each year you delay taking them.

One additional item to include in your savings fund calculation is that you still have to enroll in Medicare Part B at age 65 and pay the premiums. If you delay starting SS benefits until age 66 or later, you will have to pay them yourself quarterly to Medicare. Currently that is $104 per month. When you start receiving your SS benefits, the premiums are automatically deducted from your monthly benefits. If you fail to enroll at 65 and don't pay the premiums, there is a permanent increase in the premiums that also increases the longer you delay enrolling. You don't want to miss that 6-month enrollment window at age 65.

It’s important to learn about all the various SS options and variables before you decide to start receiving them.
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Old 11-28-2015, 12:14 PM   #10
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We don't full time and we don't depend entirely on SS, but we travel pretty extensively and have averaged about $8 per night for lodging over eleven years of traveling with our Scamp.
The taxes alone on my modest home are about a time and a half that amount.
Insurance alone on the same house is roughly $1.50 per day
Then of course there is gas and electric and upkeep, even cable TV.
you will want heat, lights, upkeep and electronic entertainment services.
Many of them come with the cost of a camping spot when needed.I think even these things will be less than with an in place home.
I don't know how car insurance rates would be affected.
Food of course must be had whether your house has wheels or not and medical of course will too.
Networking with friends and family could be more difficult, especially in a crisis.
Repairs and upkeep could be a little more difficult as well if you are used to DIY.
Another point, when working I drove about 15000 miles per year just back and forth to work, you could easily use that many miles or less when full timing.
Nice enough, I hope!
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Old 11-28-2015, 12:52 PM   #11
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Originally Posted by honda03842 View Post
We faced that question since we retired at 58. We paid for Cobra for 1.5 years and bought catastrophe insurance for the rest.

If you're paying attention ahead of time and take standard meds regularly you can collect an adequate supply ahead by explaining things to your doctor.

These days, particularly if you require generics from your doctor, meds are very inexpensive at Walmart. Most of the other providers are matching Walmart prices for generics..
That sounds like it worked out for Norm and Ginny but if you don't have enough cash on hand to pay for everything up to the catastrophic deductible, it could wipe one out financially in a single hiway or health mishap.

My health coverage was seamless, from my now ex-wife's employer coverage, to COBRA when I retired at 63, to the Senior Advantage Plan through SS when I turned 65.

A SoCal Dr. was just convicted (2 weeks ago) for murder for prescribing meds over and above patent's immediate needs, not to mention it could be fraud against the prescribing physician if the ins. company was paying for meds beyond ones period of coverage. With that case I think that those requests may start to get a blind eye.
http://www.latimes.com/local/lanow/l...030-story.html

BTW: You can purchase meds at COSTCO without a membership card. Just walk in and hand over your Rx. You can call first for prices.



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Old 11-28-2015, 01:06 PM   #12
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I'll be happy to explain in detail what we did via PM. However as I suggested the viability of low cost meds these days almost negates the need to be clever, particularly if you demand generics for prescriptions.

We once were given a prescription for a Statin even though there are low cost generics that work well.

I seriously doubt that what we did could ever be prosecuted though I know one can dig up a single case against anything.

I just read the actual case, nothing related. Someone must have time on their hands.
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Old 11-28-2015, 01:58 PM   #13
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Nope, nothing for the patient, it's the prescribing physicians that are at risk and, as a result of this case, several major providers, including mine, are issuing new guideline for extended Rx's. As mentioned in the article, this is the first time this has happened, no one want's to be the second.


About Catastrophic Ins: AKA "Bronze Level"
Looks like most in this group won't qualify under the new guidelines unless they can prove a "Severe Hardship".
https://www.healthcare.gov/choose-a-...ns-categories/



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Old 11-28-2015, 02:38 PM   #14
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It seems that Medical would be off topic or at least tangental since a person would need medical insurance whether or not they are full timing.
Of course traveling outside of a service area would be important, so knowing those rules and coverages could be relevant in that respect.
Wouldn't Medicare have the same coverage everywhere in the U.S.?
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Old 11-28-2015, 03:12 PM   #15
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Coverage can depend on how you are taking your Medicare. If you are a straight, card carrying Medicare subscriber you can go anyplace that accepts Medicare. However, if you are using a Senior Advantage Plan, that is based on a group providers services, there are sometimes different rules that have to be followed for services.


For example, for minor medical issues, occurring outside my service area, I am required to seek medical care first at an Urgent Care Clinic rather than an emergency room, and I have to pay for that up front and am reimbursed for a bill I submit. The clinic may accept Medicare, but they won't accept my providers card. In the event of an emergency (like an accident) the provider (usually a hospital) will be reimbursed directly for all costs up to my coverage rules and limits.


In Kaiser-Permanente, the largest and highest rated Senior Advantage program in California, it works great, smaller ones may not be as flexible.


Thus, to stay on topic, a retiree on Medicare might not want to have a Senior Advantage program if they were traveling a lot outside their service area.



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Old 11-28-2015, 03:55 PM   #16
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While I'm not full timing I take long trips, usually many months at a time. I keep track of my spending, both when at home & on the road, and find that amount I spend (both on travel & general expenses, but excluding the cost of keeping up my stick & brick home) while traveling would fit within my Social Security allotment. It would be tight, I would have to stick to lower cost campgrounds, drive less, but it would be doable. I would not be able to keep my home & travel on just Social Security. Fortunately, I also have a 403b that I contributed to for 32 years that lets me travel & maintain a small home in upstate NY.

I actually spend less while on the road than at home - campground & fuel costs are less at home, but I am addicted to buying things at Amazon & others that just doesn't work on the road & the house always seems to need something.

Food costs are close, but slightly less on the road - I usually cook rather than eat out in both locations, but the meals at home are fancier.
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Old 11-28-2015, 04:50 PM   #17
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Okay, i'll stay on topic!

Quote:
Originally Posted by kirkman View Post
Thanks Jim for closing the other thread!
I am looking for any of our members that are living on SS with a little savings full time in there eggs. Bouncing between BLM, federal forests, and other campgrounds. Using all there skills to live frugally.
Jason
PLEASE STAY On TOPIC!


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A person living in New Mexico can purchase a Annual NM State Park Camping Permit for $180. A non resident pays $225.

With this annual permit a family can stay in any NM state Parks. Camping in the south of NM during the winter, and drift north as the weather gets warmer.

Even the cost to a non-resident is less than $1 per day for a nice camping space. The only negative aspect is that the rules require a camper stay only two-weeks at a time at that State Park. However, we found that it all depends on the manager of each state park. In any event there is many NM State Parks within a day's drive.

We became friends with a single man, with a trailer the size of a Scamp 13', that lived in the Deming, NM area year around, moving to each of the three local area NM State Parks in rotation every two weeks.

Another man, who lived in a old pickup overhead camper, camped during the summer's in northern NM State Parks, and as the weather got colder in the fall, he moved far south to the Deming area. He was a old sheep herder, and had many a story to share!

There are many fine people living in RV's on small amounts of SS, SSI, and such. The main thing I noticed was the happy people all had a positive attitude!

Bill
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Old 11-28-2015, 06:04 PM   #18
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We found living on the road less expensive than staying home, our basis is 15 years of travel averaging 7.5 months per year.

We spent less on fuel and food when traveling. When home the food budget is dramatically increased by food for family, friends and guests.

All utilities are less including heating fuel, electricity, and water.

Camping fees are about equivalent to property taxes.

Car Insurance and expenses were less than non-traveling. We burned less gas and spent less on insurance and fees. We went from three vehicles to one.

Clothing was less expensive; we have less of it and it's less expensive.

For a fulltimer, home insurance comparatively disappears.

Life is just simpler and less expensive.

I would also suggest your health will be better, both mental and physical health.

As to insurance, we travel all over and need insurance that covers us where we travel. As a result we have Medicare Supplement, Plan "J". Plan J covers you for 2 months while out of the country.

The reality is that we have rarely used our medical insurance. On the few occasions we have had to use it. There's been no out of pocket charge. We can go to anyone, anywhere.

Trailer maintenance is less than home maintenance.

I will say that one needs to consider where they are today in their spending and make a plan for travel expenses. More important though is Will you like traveling?
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Old 11-28-2015, 07:22 PM   #19
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I like where this thread is going keep it coming. 👍🏼


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Old 11-28-2015, 07:44 PM   #20
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I'm comfortable living on my pensions, even though I retired early at 62.
I have only had to dip into savings for my daughter's wedding.
But, when I retired, I had a relatively new tow vehicle that was paid for, trailer paid for, had no mortgage, no credit card debt, no debt of any kind.
I think before anyone retires, they need to retire debt.
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