That’s right! We are going to reduce monthly outlays in half. We’ll free up almost $1000 a month. This means that we will be living on somewhat less than half of DW’s pay checks, or a little over a quarter of mine. I would almost be able to support both of us out of my retirement “fund”.
Our combined after-tax savings rate will more than 85% which is more than I ever saved consistently on my way to financial independence/early retirement.
How? We’ll we bought an RV and have found a place to park it. Only about two miles from where I work too and within biking distance of the mainstay supermarket.
Rent is reduced to 1/3. Incidentally this is less than either of us has ever paid in rent.
There are no more water bills and no more trash bills.
Once I get the solar panel project going there will be no electricity bill either.
Obviously, I should have thought about this before. However, there were several circumstances preventing it or at least making it fairly difficult including being an expatriate with no permanent residency (and thus no desire to get bogged down by things that didn’t fit in a suitcase).
However, for those who desire to “retire” quickly and escape the drone-zone and career rat race, I think RV living is something that should seriously be considered. Of course there are some compromises. You can’t have a media room. You can’t have a home gym. Also you have to say goodbye to the bowling alley in the basement you just financed with a second mortgage. You can have everything else though. Just expect rooms and furniture to be a bit more multifunctional. For instance, our RV slepts 5-6 whereas our current home sleeps 4 (if we get the air mattress out). Our RV has two TVs. Our present home has 1. We actually have more seating in the RV than in our home as well. And seriously, exercising is best done outdoors. However, children, if any, and adults have to forego the relatively modern fashion of each having their own room. During my RV research I came across an article of a family of 5 living in a 5th wheeler. Another thing that people think is hard to do is to let go of the possessions they have not seen or used for the past year, because they might “need” it some day. However, this actually turns out to be surprisingly easy.
So give it some thought. There is no rule that says you have to have a 30 year mortgage, two cars, and spend all your life energy on a job to fill your house with stuff even though everybody else does it. Just because it’s popular doesn’t mean everyone should do it.
