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Finances of Permanent Camping

I am also considering the permanent camping thing very seriously. I am now 62 years of age and the time has never been more right than now. I just want to put more light on the finance side of this. Look, we raised our children the best way we could and financed their further studies and or development to a point where they have to take full responsibility for their own lives.

So, I do not think that we owe them inheritance and plan for it, but now we are at a stage in our lives that we know is "the last stretch"and we have to make the best of our own time left on this planet. Now I read about people that want to sell the house and free themselves permanently from the worries of still having a home somewhere to go to. Some people also argue that the campsite pricing must be seriously considered before doing the leap. I think the next calculations could be the last straw that people (and that includes me!) would consider before taking the leap!

Now, regardless of your other assets and/or pension income. selling your house for R1 000 000 and investing the money on, lets say, a Money Market product where your capital is guaranteed and your capital is available all the time, you get currently 7.6% interest per annum at most of the banks, your investment would produce R76 000 par annum, or R6333 per month and your R1 million will still be there after unlimited years. So this means that you can pay camping fees of R211 / night and you still have your R1 million for unlimited years. I you take R10 000/month out of your investment of R1m, your capital will be finished after about 19 years. Now, for me it means that I'll be 81 years old, if saved until then!

So I've got bad news for my kids, They will not go on a prolonged overseas trip or buy the luxury "Land Cruiser" double cab V8 when I pass, because I'm enjoying my own hard savings!!! I think I just convinced myself!

Kind Regards,
- Helgard