Pack in the job, rent out the house, get in the camper van, fuck off

[GotTheBug]

WIBU to do the above?

We have a house with a small mortgage, stable but unfulfilling jobs, a camper van and itchy feet. Some savings (but not a huge amount!) No kids at home, one ageing but currently still independent parent nearby. Both of us early 50s and healthy.

We have talked about doing this for years and I'm increasingly starting to think that we should do it now before we get any older - also I'm aware that my DF may need us around more in the years to come. I guess I'm worrying that if we leave it another 10 years/wait until retirement we'll have missed the window.

Obviously leaving the job and renting out the house are massive steps and that scares me - so much to potentially go wrong. But at the same time, life is for living, right? We could rent out the house easily I think - seaside location, an hour from London on the train - and the rent would pretty much cover our travel expenses. DH could take a career break for a year or so much more easily than I could, though, and we'd be pretty skint on our return.

Would we be mad to do this, or mad not to?

This

I think it's a bit pointless mentioning other people who've died young. This is not the 'norm' and big decisions shouldn't be based on other people dying at 50 or whatever.

The way to look at this is hard stats, which is most people will live to their early - mid 80s.

If you lived life thinking you might die at 50-odd, you'd end up making very rash and unwise choices a lot of the time.

Neighbour just done that ....having amazing time... Go for it.... neighbour set herself a year . She a teacher and can easily do supply if returns

Would you definitely have jobs to come back to; I found employers very reluctant to take on people in their 50’s.
Probably okay if you are at either end of the pay scale; so a highly paid professional or alternatively someone working in a minimum wage job.
However I found in my 50’s I could even get an interview for mid range administrative jobs when I had 30 years experience. Twenty years earlier it had been easy despite having much less experience.

Yes, but when I'm 60 my dad will be in his late 80s and will almost certainly need me around.

And as for the little snark about not having 6 figures saved 'by my age'...

Please do this, I'm stuck with an older parent and I have long path ahead of me as I'm the only child in the country, so any chance of doing this are zero.

You can rent the house via an agent and save the hassle of being landlords let them take a cut and manage your tenants.

Also don't forget if the house is rented you may need to change your mortgage.

But on the good side you have another option when you return, keep it rented and you rent somewhere smaller. Rather than downsize leverage the difference to pay down the mortgage.

Go for it! Why the heck not. I would in your circumstances

It's only a snark if you feel that way about it. It's the reality of you not having much in savings. You provided that info. I said I'd not be comfortable takkng a career break with that amount of savings.

You have no idea what could happen to your dad. Mine lived to his mid 90s, in reasonable health.

Yours could die at any time - hopefully not- but I don't think you should base these hard choices on being his carer as that may not happen.

I took a gap year 20 years ago. Goa, Thailand, Spain with a view to living there and the UK till the year was up and we got the house back!

See if your H can take a sabbatical. Means job to come back to even if only for a few months to save more money later!

Rent the house out, is there a big company or university nearby that you can rent it through, I rented mine through the University so there were no fees and the house was in good order when we came back.

All the best

Do it. My DF was dead at 56.

I don't find it hard to understand, not sure where you got that from?
So, how did you find it having to evict tenants, being unable to get a mortgage again, being unemployed? You only wrote about a tent, not all the other things relevant to the OP.

For a lot of people 50s is the most powerful career and earnings decade by quite some margin!!
You’ve got 30 years experience, don’t have kids using your time, and still have your health energy as no drive.

Heading off in the camper is what I’d do in my 60s after making bank in 50s.
Unless of course you’re minted and can afford to retire early 50s, in which case well done!

Sorry but I disagree! I’d sell up, work out how much I’d need for living expenses and travel over the year! Invested the remainder which will probably be a significant amount still. They’d be cash buyers which puts them in a good position when buying, house prices are dropping and will probably continue to! When renting out, they will have agents fees, landlord insurance, responsibility for every repair as not all will be covered by insurance! Income from the rental will be taxable, and they only have a small amount of savings!

I’d sell not rent out, you wouldn’t have the same freedom being a landlord and it could be hard to get the tenant out once you’re done travelling if they don’t have anywhere to go. How are your pensions? If they’re good then you might not have to retire a year later like someone else said. I don’t agree with people saying ‘just wait 5 years’, nothing is guaranteed. It’s not about age, it’s about both of you keeping the same health and nothing happening with your adult kids either (I no a couple who’s adult child was in an accident and now needs care help from them). Plan it properly and sensibly but make the trip

Rent the house out, is there a big company or university nearby that you can rent it through, I rented mine through the University so there were no fees and the house was in good order when we came back.

I work for the local university...hadn't thought of it that way. Thanks for the tip!

My father and my best friend didn't live long enough to retire.

My DH's health means that it's not an option for us anymore.

Just do it OP, do it while you can.

Do your due dilgence and risk assessment first then GO FOR IT

Isn't it better? We've done this with a very young child, we're bouncing from place to place because he's not at school yet.

OP, I'd be a bit worried. You don't have a lot of savings and travel does cost a lot. Have you looked into house much health insurance will cost?

Another concern is you'll come back and be broke as you said, and you won't have a job. It'll be very hard to find another job at that age, from what I read. I think be prepared this could be your last job for a long while, if for ever.

I do like travelling but it does get lonely sometimes. Have you considered 3-6 months instead?

How old is the camper van and do you have enough spare cash for ongoing repairs? The miles quickly rack up and bits do start to fail so you need to make sure you’re not going to end up skint in Kathmandu with no carburettor

Absolutely. Just do it. What’s the worst that could happen? Life is for living and as parents get older and more dependent on you, you won’t be able to do it. You will still have your house when you come back.

Oh yes and we rent our house out at Airbnb (to get more £££ compared to long term tenants) and the bloody hassle of it! We have to always be online and I'd say every 2-3 days something goes wrong and needs sorting.

Go for it. You don't know what's round the corner. Do it now. Have an agent to rent out the house, btw.

do it for 3 months. It will seem like ages! You can rent to someone at the uni or someone who is getting their house renovated. Always someone who wants short term rent. Then you can see how you go.

no brainer

How much longer would you have to wait if you waited for early retirement? Would you be happy to downsize first? Do you need the rental income to allow the plan? I would go for it either way- you can do it pretty cheaply but I would also look at what retirement would look like and whether it could be an earlier prospect too.

Go for it! I’m early 50’s too and thinking the same! Lost my brother to suicide a couple of years ago, my other brother to an accident 2 years before that and my best friend is slowly dying from pancreatic cancer. It has totally changed my outlook on life.