Looks like we need a written financial plan to make this happen

 

I just got off the phone with the Boss (Mrs).

We discussed whether I should start exploring winter time employment opportunities in the mountains.  She thinks we will be ready in the spring.  Looks like river guiding will be the first escape job (if I don’t find another awesome job before then)

As we discussed dates we recognized that we still do not have a JUMP date set.  The big question is how much savings do we need and when will we have it?  Time to put pen to paper I suppose and figure out the math.

Guesses for now:

Real estate: We need money to protect the rental properties and provide for maintenance.  Given our current cash flow on each, our monthly savings rate is:

  1. +$0 monthly on one (paid off in 4 more years)
  2. +$450 on one (paid off in 10 years)
  3. + $550 on one (30-year mort)
  4. +$500 on one (30-year mort)

This provides $1500 a month to cover property expenses, save and invest. We can’t spend any of this money while we travel.

Safety net $:  we will want 6 months of living / travel expenses in reserve (just in case).  I suppose we need to figure out what our monthly expenses will be once on the road.

We need a travel home:  If we sell both vehicles we will have $20,000?  Not a bad start but it’s looking like we might end up spending $40k – $50k to meet all of our requirements (truck and RV)

Cost of Health Insurance:  what will it cost the 2 of us to carry health insurance while we are partially employed.  Will the health insurance cover us as we travel? ……………..

I just disappeared into the internet abyss but found a bit of info…..There is much research to be done on this subject.

Month to Month Expenses:  I ASSUME that food and phone will remain similar.  The boss’s prescription meds should be comparable?Internet, gas, road expenses?….misc budget, play money?

Figuring some of this out will help clarify if working seasonally will provide the income needed to meet this budget. How much can we or do we need to make?  Work for $$$$ a few months then go do fun stuff on the cheap???  Can we just work a few months here and there?  Can I generate passive income with an online gig?

Soo many questions but it’s more fun to figure this stuff out than to sit in front of the TV and watch life tick by.

Someone’s sitting in the shade today because someone planted a tree a long time ago.”
― Warren Buffett

Soo many questions but it’s more fun to figure this stuff out than to sit in front of the TV and watch life tick by.