My bank account looks much better compared to a year ago, due to several factors. The extra $600 per week on unemployment was nice while it lasted. With everything closed down because of the coronavirus, I had no place to spend the money. While my campground job was cut short because of an extreme case of shingles, it did provide a few thousands during my 3 months of work. And again, no place to spend it. Lastly, getting the grocery remodel job in September really helped. The company paid for my food, housing, and gas; so most of my wages went into the bank. My latest job doesn’t net as much, but my housing is provided and I don’t have to commute to work. So, how does my future look?
I recently got the book Nomadland and also watched the movie based on it. They mostly focus on poor seniors who are forced by financial circumstances to live in RVs or vehicles, and to take seasonal jobs for survival. Many are bitter about lack of comfort and financial instability in their old age. Others have embraced their new lifestyle, and are glad to have figured out a way to lower their living expenses and being able to travel around. Needless to say, those with a positive attitude are mostly thriving and enjoying their adventures in life. I try to be one of those, though I don’t always succeed. Many say they wouldn’t trade the traveling life in, even they came into a bunch of money. Which makes me think about what choice I would make and could make now.
I can now afford to rent an apartment, if I so desired. That would give me a home base and I could personalize it to my taste. It would be nice to have some comfort in my life, again. However, rent money is pretty much thrown away, and at today’s rates, would definitely cut into my savings rate. If I wasn’t working, my bank account would run dry long before Social Security kicked in. And that assuming I could even find a rental company that would be willing to rent to me. I have no rental history, my job history is spotty, and I have several blemishes on my credit report. So, that doesn’t even seem feasible at this time.
A room for rent would cost a little less, but that would force me into a roommate situation with strangers. I really doubt I could find an enjoyable place, where I got along with everyone and they were all respectful on cleanliness and noise. At my age, a good sleep is harder to come by, and loud roommates would be intolerable.
I’m happy to have an emergency fund again; but realistically it could not buy me much on housing, vehicle change, or medical expenses. So what are the wise things to do? Buying a house is not feasible; because I couldn’t afford much down, my income is not high enough, and I don’t have enough working years left to pay off the mortgage. When property taxes and utilities are added in, I’d be foolish to even entertain thoughts towards that. I could buy a mobile home, but the park fees are getting ridiculous and my money would be thrown away. Same with any rentals. So, it looks like I need to stay with jobs that provide housing or continue to live in my van.
The van is getting old, but I think it still has plenty of life remaining. Eventually, I’ll likely need a vehicle that I can stand up in, maybe in another ten years. If I’m still alive at that time. So, the smart thing to do is, keep maintaining the van in running order and save up towards a future replacement. Maybe fix up the interior to be more useful and attractive, but no need to go overboard on the improvements.
Medical and dental expenses are something that I have partial control over. If I strive to stay fit and healthy, those costs should be lower. I still have Medicaid at the moment, but that’ll likely be gone after I file my taxes, because of last year’s increased income. It’s possible that Biden’s government will bring back mandated medical insurance, which would greatly increase my monthly outlays. So, I’d either have to pay for insurance, go to work for a company that provides medical and dental, or reduce my income to re-qualify for Medicaid again. I’ll cross that bridge when I come to it.
In the meantime, I plan to safeguard my savings. A minor occasional splurge won’t destroy it; like eating out once in awhile, going to a movie sometimes, taking a few months off of work to enjoy life, perhaps even spending a month or two in Puerto Vallarta or Thailand as a reward for my hard work. But it will be necessary to guard against spending creep. Just because my income has increased lately, doesn’t mean my spending has to keep pace. That’s a fool’s mentality and I’m trying to avoid playing the fool. Again.
iggyvandweller 