To use my divorce settlement to travel the uk by motorhome

[beanii]

So I'm just about to get my share of our jointly owned house following our divorce.

I'm 48 and I've remarried and feel is rather spend some of the money on taking a year or two out and travelling the UK by motorhome whilst I can - but part of me feels guilty as this isn't the 'norm' and should do the sensible thing and put it towards another house etc 🤷‍♀️

Having been through a toxic upbringing and then a long toxic marriage, ice realised life is short.

So am I being unreasonable to take a year or two out?

OP, you'd be best getting some proper financial advice I think.

Interest rates being so high make this a bad time to invest in property (unless you could buy a small rental property mortgage free?) but a potentially good time to save/ invest.

My MIL has lived for the best part of 40 years off "her investments" post-divorce from FIL. No idea how she got so lucky but she seems to draw down around £2K per month without reducing her capital.

If you could do anything comparable then you could travel for as long as you want while still having the lump sum available at the end.

This is how wealth begets wealth - apparently :) Best of luck!

Life isn't short if you are living the end of your life in poverty, personally I'd be aiming for something better than that.

But crack on, have a good time and add some more laughter emojis to anyone who suggests financial planning. It's your life.

Personally I would get settled first so that you have stability and a roof over your head.

Then I would look at taking up walking trips to different locations that you can afford.

Second the advice to see a financial advisor to try and find a way to do both what you want and security for the future. Then if you want to travel, go!

My DM had loads of plans for retirement and then died quite young and never got to retire. I always think of this when I’m wondering if I should go ahead and do something or not.

If I was 48 and renting I'd be putting down a deposit on a house with the lump sum and taking a long holiday (month or two?). Spending a year in a motorhome might not be what you expect, half the year (at least!) in the UK it will be cold and wet which will make staying in a motorhome very uncomfortable at best, and you may regret the lack of stability of your own home in the years to come. I'm all for following dreams but I think you need to think this though a bit more.

Also depends how much we're taking, if its 500k plus I'd be more inclined to take the time out, you'll still have plenty money left, if the lump some is 50k or less, more consideration needed, it won't go very far.

In theory I love the idea but would need a firm end plan to think its actually a good idea

I'd say get a house settled (maybe in a brand new area!) then spend the summer/autumn travelling. Winter in a caravan/motor home is miserable - you're constantly fighting the cold, damp and many parks close!

but a potentially good time to save/ invest.

Hi Wooly, would be great to get your ideas on low risk ways how to invest some money? I am a novice in this but have some cash that I have no immediate plans for.

Oh god sorry if I sounded expert - I'm not!

We have a good advisor guy that we were recommended by wealthy friends, he's totally independent so knows the full range of options rather than being limited to offering the "in-house" products...

I'd be happy to send you his info by DM but also asking for recommendations from friends is a good way to go.

Wish you the best of luck!

“As for planning for retirement, who knows if I'll still be alive? What happens to people who haven't paid in or saved up? Not left destitute on the streets are they 🤷‍♀️😂”

😂 ?

Data from SpareRoom showed a 239% increase in house sharers in the 55-64 age group from 2011-2021.

https://amp.theguardian.com/money/2022/sep/09/over-50s-turn-to-flatsharing-in-cost-of-living-crisis

”Joseph, 55, was placed in a 12-person house share in Sandwell by the council after a period of homelessness. He pays £400 a month for a room in a house full of “mould and rats”, he said. His mental health has deteriorated to the point that he is having suicidal thoughts.”

I think your “😂” is misplaced.

I think there’s room for well thought out plans and taking a break in a moho. But don’t be naïve.

I too have paid in my full working life since 16 - I'm currently off sick and between jobs and having to claim SSP - I had to fight for 3 months to get £84 a week as they were adamant I wasn't entitled to it.

Meanwhile in the town next time me there are 2 hotels FULL of illegal immigrants - they get housed, fed, dental treatment, medical treatment, clothed AND £45 a WEEK spends.

So as much as its wrong to say who cares about planning for retirement - I also know that doing it the 'right' way gets you no where.

Plus, I'm not irresponsible - hence the laughing face 🤷‍♀️

Refugees are not illegal immigrants, OP. They wouldn't be in a hostel if they weren't refugees.

If you're sick, how will you travel round the UK?

Nope. They're refused asylum seekers and if you look on the government website you'll see what REFUSED asylum see get and they're in a 2 star historic hotel 🤷‍♀️

I'm waiting for spinal surgery - due 29th August after waiting for 5 and a half years.

Meanwhile in the town next time me there are 2 hotels FULL of illegal immigrants - they get housed, fed, dental treatment, medical treatment, clothed AND £45 a WEEK spends.

Meanwhile there are people claiming sick pay when they have enough money to buy a motorhome and also are apparently well enough to travel around the UK in it.

So why did you call them illegal ? Refused asylum seekers are not the same as illegal immigrants.

Exactly

So it's not just about having a motorhome and the rest of your life is 'free'. In general we find it costs on average £50 per day to stay in our campervan (On long term breaks). That is food, drink (all very moderate), site fees, gas, diesel/fuel. Plus insurance, van maintenance...

Do you have £18K - £20K each year to fund your plans?

Put all plans on hold till after surgery, you would be looking at next spring at the earliest anyway.

We plan to motor home but we have a house and DS will live in it to look after it while away. Plan is 1 year UK traversing the entire coast and then Europe.

Have you been in a motorhome? they are currently very expensive due to demand. We are hiring one and seeing how we get on, I would suggest you do this. We have been researching them over the last few weeks and if you do buy one take your time.

I assume your new DH can make a contribution to all this, is he is similar age to you and any assets at all?

I'd put money into property if at all possible as you rent, but I've never been a risk taker
Do what makes you happy

“Meanwhile in the town next time me there are 2 hotels FULL of illegal immigrants - they get housed, fed, dental treatment, medical treatment, clothed AND £45 a WEEK spends.”

Actually it’s £47.39 per week “spends”. Don’t miss out on frothing over that extra £2.39! 🙄
Now piss off with your racist claptrap.

A) the house is DUE to be sold.

B) I've paid into the system since I was 16 - is that not what tax/ni is for - to help when I CAN'T work?

C) at least I've paid my fair share in 🤷‍♀️

Please explain how it is racist?

Being annoyed that people can claim so much without paying a penny in or illegally being here?

I have the same opinion for British born and bred who choose not to work.

Yes we do.

This ^