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September 28, 2013

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Lurking on your site for awhile and enjoying it, finally decided to chime in. I've been dying to ER for awhile, my wife isn't in a big hurry. Like you, we have amassed a nice portfolio of dividend payers that easily covers our yearly expenses (30k for us as well). Right now we are almost saving 80% of our income - we gross 200k and yet spend only 30k. How much is enough? How much do we need? I know one thing, I have had enough of my current job! And we also love our yearly doses of great weather down south. Baja is like a second home for us, been going there for over 20 years - but we haven't driven down yet, mostly because we simply don't have the time to do it. I would love for my wife to move to part time (like your fella) so that we could do more of things we love together. I will keep trying to steer her towards part time. Not sure about the RV thing, but until I give it a try, I can't really say.

Hi kayak guy - I can relate to your feelings about your job. Once I hit my annual passive income goal, I was ready to quit my job, and at that point nothing could make me stay.
I love staying home and taking care of our finances, and My Fella still really loves the golf industry so we're lucky that he can work half the year and we can take off in the winter. It's the best of both worlds.
And the funny thing is that since I quit my full-time job (exactly 6 years ago this month) I have received several good jobs offers in my old field, which was radio. Not only a nice ego boost, but a reminder that you can always go back to the 9 to 5 job if need be.
As for living fulltime in an RV - it certainly isn't for everyone. But it definitely suits our lifestyle. I just wish we would have done it years ago.

"How much is enough?" is like "How long is a string?"

We worked, invested, saved and inherited and now we are 68/71 and have to get it through our heads that it is time to start spending instead of saving. It is not an easy transition.

Like you say, everyone's situation is different.

We met one couple from Florida who retired with "over two million plus a paid off motorhome but no pensions" and discovered that one downturn in the economy and one medical emergency not covered by insurance found them with no house and parking their MH in their kids driveways most of the time. Their string was not long enough.

We met another fulltime RVer who was 80 and has lived very well on his gross income of $21,000 per year. I guess everyone's string is a different length.

You ROCK! Your fella is a lucky guy to have a good looking savvy investor ;p-)

SeƱor C - you are so good for my huge ego :)

mexiCroft - I agree, there is no magic number that applies to everyone: it all depends on how much you spend... and how big your safety cushion needs to be.

My Fella and I run into a lot of age 60+ snowbirds/RVers while travelling, and the common theme seems to be "wish we would have started saving earlier so we could have started doing this earlier."

p.s. You seem to have a strange fixation with string - does Norma know about this ??? :)

When we got to the point of earning enough in the 6 months we lived in Kelowna in the summer to cover another 6 months of the year in Mexico during the winter we went for it. There is always something coming up that spends any extra we make, like a new house! We also have no pension income but do have 2 condos we rent out in Vancouver and some RRSPS. Life is too short to be working 9 -5 if you are able to get out there and enjoy.

I've got a friend that's more into US real estate investing now. He's doing extremely well with it. Definitely more than one way to skin that ER cat if you have the drive to do it. Most people don't really want to do what it takes, they want to have the results - as long as they don't have to deprive themselves at all today.

"Life is too short to be working 9 - 5 if you are able to get out there and enjoy."

Fully agree!

jjolie,
RE: your comment on the other post about PRE and PMG - Good for YOU! I don't own either company, but knew something was up when I saw both names halted on Friday.
We're heading to southern California again, and then not sure - maybe Mexico. Did you get away this summer?
Are you blogging somewhere else now? Your old blog address has disappeared...

Cool! (Or should I say "Warm!") Going in the RV to MX? We stuck around AB camping/fishing/hiking this summer (due to medical issues - nothing major).
No ROI in blogging the way I was doing it. ;-) Might start up another but more for myself kind of thing. Will let you know if I do.

Kayak Guy - I can relate Ohhhhh sooooo much to your dilemma on when to pull the plug from the so called "norm". I know so many folks in their sixties that have a tremendous net worth accumulation, some with many revenue properties they've owned for years that generate an income now as well and they have a huge fear of running out of money if they were to retire totally from the rat race. We ourselves lost both sets of parents at 55, 65 and 68 years of age so are very concious of needing to retire much earlier (ironically the grandparents lived into their 90's - working the fields and eating raw foods not processed me thinks!). None of the parents spent any time of significance in retirement but planned their whole life for it. It's taking that leap of faith for us that's the biggest stumbling block right now, although our motto has always been "live for today, but plan for tomorrow" trying to keep balance, that's never an easy thing to achieve. If I could just perfect my trading to generate enough income "consistently" from our savings I'd be home and dry, but it's the "consistent" bit that evades me!

Anybody with any good tips that leads to helping one take that "leap of faith" with conviction and no regrets please share.

Happy Travels everyone, envy those heading south for this winter soon and hope to join you next one.

Hey Kelsi, regarding the statement about about the couple with a medical emergency not covered by their insurance. I was just curious how good is the insurance you get when you're in the USA? It's quite a different system there compared with Canada so I imagine you would try to get back home should anything serious occur?

Justin - we get our travel medical insurance thru BCAA. We pay roughly $500 for two of us for 6 months, but the coverage isn't that great - it's really only for major things.
Our deductible is $500, so if one of us just has to go to a walk-in clinic for something small (an infection, ear ache, etc.) we just pay the bill out of our own pocket. I had one doc visit in California last year that cost $112 USD.
We haven't had to file a claim on our travel medical insurance yet; hopefully we won't have to cause I'm sure it will be a huge pain in the butt.t our medical travel insurance

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