FULL TIME RVING ON SOCIAL SECURITY
RVING WITH KIDS
2022 ARCTIC WOLF 291RL
RVING 101 – TERMS AND DEFINITIONS
EASILY AVOIDABLE RVING MISTAKES
Many retirees dream of buying an RV and traveling the country full time.
They’re also left wondering if that’s feasible living on Social Security. The simple answer is yes although there are several factors to consider prior to making a decision, which we’ll go into detail on here.
ESTABLISH YOUR SOCIAL SECURITY INCOME AMOUNT
You need an estimated amount you receive from Social Security to manage budget expectations. You can do this via the Social Security Administration website’s calculator. There isn’t necessarily a minimum budget to RV full time. It depends on your desired lifestyle. Generally speaking, we suggest $2,000 per month at minimum. This may be a surprise since you don’t pay rent anymore. It’s important to remember full time RVing still carries basic, consistent costs.
LEARNING ABOUT LIFE ON THE ROAD FIRST
Retiring to live in an RV requires a lot of big decisions. If you have a house, you may need to sell that to buy an RV and fund this new path. To understand life full time in an RV, it helps to get perspective on what to expect. Be sure to experience at least a taste of RV life first. We’d suggest trying to live in an RV for at least a month. While we consider RVing over an extended period of time to be amazing, the reality is it’s not for everyone. This will help determine if it’s for you. Not to mention you’ll also gain a sense for what your monthly budget looks like.
RESEARCH COSTS FOR DIFFERENT WAYS OF LIFE
Since you haven’t lived in an RV full time yet, it’s best to consult those who have to get the truth. Instead of just reading articles, we suggest joining social media groups to talk with other RVers. People who are already full time RVing on Social Security are always the best resources. Many of them can provide valuable insights into ways to save considerable amounts of money.
BUDGET FOR LIFE ON THE ROAD
Now that you’ve done all of the appropriate research, you can start putting together a budget. Is this realistic given the amount you’ll receive for Social Security? If not, what sacrifices can be made to afford this lifestyle long term? There are certain costs where you just can’t budge much. Your fixed income will need to cover basic expenses such as the following:
- Food and Beverages
- Insurance and RV Payments
- Maintenance and Repairs
MAKE YOUR RV MORE EFFICIENT LONG TERM
If you haven’t bought an RV for retirement yet, you have the freedom to choose one based on its long term reliability and up to date efficiency. Fuel consumption is a constant cost that’ll yield great returns if you invest in an RV with higher efficiency. Models vary significantly in terms of fuel use since some aren’t ideal for full time living. We suggest asking your RV dealer a lot of questions to see what’s best for RVing full time in addition to saving on these costs.
If you already own your RV and are happy with it, there are still some things you can do to make the unit much more efficient. These include the following:
- Checking the tire pressure regularly
- Driving smoothly and steadily
- Ensuring the weight is always balanced
- Keeping up with regular maintenance
- Knowing where you’re going to minimize miles
- Only using the air conditioning when needed
- Traveling lightly and eliminating unnecessary items