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Old 09-16-2012, 09:10 PM   #21
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I hear you about wanting to stick to the plan - I'm trying to do the same thing.

You are currently spending 43k with no HI costs. Add in 5k HI and you get 48k. You will be going down to 27k (a 44% reduction). I'm sure you've run the numbers and know exactly which expenses will be coming down. I suspect alot of the reduction will be in housing. I would never be happy spending only $166 a month for DH and I. I'm generally a tightwad, but an "allowance" of $20/wk each for each of us would be a challenge for sure.

More power to you for being able to do that !
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Old 09-20-2012, 07:43 PM   #22
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Welcome, Fermion.
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Old 01-31-2014, 04:49 PM   #23
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Curious how your plans are coming along. I came here because elsewhere you posted where you started about 10yrs ago which is kinda where I'm at right now with a 10yr FI horizon. Additionally I too enjoy offroading/camping/traveling/off-the-grid sort of living.
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Old 03-05-2014, 08:03 AM   #24
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Curious how your plans are coming along. I came here because elsewhere you posted where you started about 10yrs ago which is kinda where I'm at right now with a 10yr FI horizon. Additionally I too enjoy offroading/camping/traveling/off-the-grid sort of living.
Our plans are coming along nicely, although we are going to be class of 2015 instead of 2014. It has taken longer than I thought to build our own RV expedition vehicle and I need time to fix up the house to sell.

Current estimates if the stock market holds present gains is that we will have around $1,450,000 to $1,500,000 in taxable and tax deferred. This will be split up as $550,000 in 401K, $70,000 in IRA, $50,000 in Roth, and around $800,000 in taxable. Of that $800,000 there will be at least $500,000 that can be accessed with no tax because it is from the sale of our home and various assets.

I have looked into health insurance and it seems our payment for a family of 2 nonsmokers age 46 and 47 will be $775 a year for a silver plan with a 94% actuarial value. Because of additional cost sharing subsidy the max out of pocket other than premium will be 1/3 of $4500 or $1485.

Thus the worst case for health insurance per year is $2260, or about $200 a month.

We have designed our expedition vehicle with 1300 watts of solar and 200 gallons of fresh water. We plan to spend quite a bit of time in remote areas on government land for free (mostly out west but also in Alaska during the spring/summer). Our major costs will be food, gas, and insurance (health, possessions, liability, umbrella)

Based on a portfolio of $1,450,000 and a 3% SWR we should be able to draw $43,500 per year and that will be tax free (half of that amount will come from the already taxed $400,000).

Our monthly budget during boondocking might look like this:

$800 food
$600 fuel
$200 health insurance
$300 other insurance
$500 vehicle maintenance + registrations

total $2400

If we boondock for 6 months out of the year we will spend $14,400 during that time and have $29,100 left for the remaining 6 months, or $4850 per month. During these months we plan to do things like rent a house in the Florida Keys so the budget might look like this:

$2500 rent
$100 utilities
$200 fuel
$200 health insurance
$300 other insurance
$300 vehicle maintenance
$500 entertainment
$750 food

If we decide we need a bit more money or want to continue funding Roths (and get the combined $2000 in saver's credit!) we might take up a little software contract work over a winter period (Nov to Feb for example) which would fund two full years of Roths for both of us.
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Old 03-05-2014, 11:51 AM   #25
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Great info and congrats on reaching your dreams! You sound like you've done the homework and have a good plan in place. Boondocking out west huh? then my screen name should have a familiar ring to it

I'm also on a few expedition related boards and enjoy the adventure of the whole being out in the middle of nowhere and exploring some cool stuff. I usually travel with others and haven't made the switch to solo traveling (not too far off the main trails anyway) yet but eventually when I get closer to retirement in 10yrs and have a new(er) expedition truck I probably will. Right now I have a built SUV but later it'll be a full size pickup with a FWC - or a Sportsmobile.

Keep us posted on the progress!
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Old 04-10-2017, 05:19 PM   #26
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We demand updates! After a full year of retirement under your belt, how have the plans materialized along with how far off are you from your anticipated budget. Do you have a home base or nomads for now?
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Old 04-10-2017, 08:01 PM   #27
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We demand updates! After a full year of retirement under your belt, how have the plans materialized along with how far off are you from your anticipated budget. Do you have a home base or nomads for now?


Agreed! And maybe a pic of your RV?
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Old 04-10-2017, 08:48 PM   #28
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Agreed! And maybe a pic of your Fermion's RV?
Did you see this thread? If not, feast your eyes! Finally finished our homebuilt RV!
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Old 04-10-2017, 08:54 PM   #29
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Hey! Kind of forgot about this thread but yes we are still nomads. We spent the past year traveling all across the USA, 11,000 miles+ total. Sailed in a lot of waters (at least 15 states, the Atlantic, Pacific, and Gulf of Mexico).

We are back in Washington and are in the process of buying a few (near 30) acres of mountain land just for recreation and privacy. It is very very cheap in eastern Washington plus this is timber land (with timber rights). Taxes are around $29 a year if you don't build anything on it. Liability insurance is a worry but I think I can swing something with Progressive and their full time RV + umbrella policy (normally you could get coverage based off your home owner's policy but we don't own or rent any home!).

The reason for the land is we want to do a semi survival winter stint and need a place we can spread out our pods without having to move them about. Most or all parks are closed for the winter. If we make it to next spring I will post about it. We are right off a paved county road though so it isn't EXACTLY life below zero. Still, they do get snow measured in feet.

Snowmobiles will be back on the menu

Here is our RV, needs a wash now.
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Old 04-10-2017, 11:49 PM   #30
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Awesome, thanks for the update! Will we be seeing you on the next Sirvivorman episode? Sounds like a fun adventure! I'm very similar to you in our thinking and interests, it's crazy!

If you get around to it would love to see some updates on the financial front too, like spending, budgets, etc.
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Old 04-11-2017, 10:03 AM   #31
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Excellent!! Nice to see you're doing just what you set out to do. I see why it took you a bit of extra time to get that RV ready.
As dvalley mentioned we'd love to hear how you've managed the challenges (if any) on the financial front.
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Old 04-11-2017, 11:28 AM   #32
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So far there really have not been many financial challenges. ACA has worked out well. I did our taxes for 2016 this past March and used a Roth conversion to peg our MAGI exactly at $23,000 which was the estimate I gave the WA health plan for our income. Of course ACA is changing most likely.

We spent about $400 a month in diesel and about $750 a month on campgrounds, hotels, parks. That was average. Boondocking on BLM land out west we went for two weeks and spent just $30 plus about $200 in groceries before we settled in.

So you add things up and it is a pretty dang cheap lifestyle yet you get to see a lot of new places and travel. Our burn rate is around $35,000 per year but could be a lot lower than that if we slowed down the travel a bit. Still, it is a very sustainable WR.
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Old 04-11-2017, 11:57 AM   #33
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Congratulation on living out the American Dream.
Let us know when you publish your journal, so we can vicariously enjoy your adverntures along with you.

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Old 04-11-2017, 05:35 PM   #34
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Very helpful and inspiring to see you're enjoying life (probably moreso than most people with 2x plus networth) and only spending $35k doing it. I've been day dreaming about the same exact thing for years but honestly it's been hard to get the 'one that must be obeyed' excited about the camping life. I only want to do it for a year or so and after that just want to settle down on a piece of land with a big workshop/garage on it. I'm a tinkerer/builder/fixer at heart.
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Old 04-11-2017, 05:45 PM   #35
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...We are back in Washington and are in the process of buying a few (near 30) acres of mountain land just for recreation and privacy. It is very very cheap in eastern Washington plus this is timber land (with timber rights). Taxes are around $29 a year if you don't build anything on it...
You can drop a septic tank, and spread out some solar panels. Then, the only thing left is to find a water source.
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Old 04-13-2017, 02:38 PM   #36
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Excellent thread. We are currently packing up to do a trip in our RV (nothing like yours) to do 6 to 8 week trip in the warmer climate. I look forward to seeing more of your adventures.
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