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  1. #41
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    Default Re: Becoming a swallow?

    Quote Originally Posted by Gungets Tuft View Post
    Nobody seems to be willing to give me a number or what I'll need to live till I die. All the FAs I talk to don't give a simple number, they're all wanting to enter it into a software system that they don't understand that pumps out a number.

    How does that 200x work. Is it nett, before or after deductions (as in my expenses now). Due to no advisor will to put his tollie on the block I've resigned myself to working up till 20 minutes before my funeral.
    Try get an article entitled "Stealthy Wealth: What is the 4% Rule for Retirement ?" (October 2016)
    Makes interesting reading and MIGHT help reduce the guessing involved. Unfortunately I only came across it recently, and too late to follow its principles.

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  3. #42
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    Default Re: Becoming a swallow?

    Quote Originally Posted by wilfwalk View Post
    Try get an article entitled "Stealthy Wealth: What is the 4% Rule for Retirement ?" (October 2016)
    Makes interesting reading and MIGHT help reduce the guessing involved. Unfortunately I only came across it recently, and too late to follow its principles.
    Gave it a skim read, it is interesting, makes assumptions about the return one can earn on investments and then calculated the sustainable drawdown. I suppose it does indicate what you should have in investments, drawing 4%, and if you need R50k after tax. Simplistically about R20,20 million (working on 35% tax which I'm not sure about). I suppose if you've got paid off houses and vehicles R50k nett is a decent enough sum. The 4% drawdown should mean you don't touch the capital, but who knows.
    And some clever oke is going to check my numbers and correct me.

    Edit -correcting myself - over 65 years of age the current deduction on R25,000 a month is R3,300. So if myself and the Swambo draw half each it's R56k a month and R16.8 million at 4%. Now let the lofties correct me.
    Last edited by Gungets Tuft; 2021/02/04 at 10:35 PM.

  4. #43
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    Default Re: Becoming a swallow?

    Cool thread. SWAMBO and I have pulled the plug on our lifesís work effective 1 month ago. Six months ago we decided we would depart from our home here in the US and travel the world, only coming back to the states to see our families, perhaps every 1 to 2 years or so, depending on how it fits in the travel plan and family happenings. Africa is our destination on the first go and Covid allowing we will be there in August.

    We decided to keep our home and it is being turned over to a property manager as a rental. Most of our possessions are being sold. The rental after expenses will generate about 20% of our expenses being nomads, the rest from investments. Social Security (senior citizen pension) does not kick in for me for another 5 years and SWAMBO 8 years so saving enough was key to get to this point. But the pension is the backstop if we draw down our savings too quickly. Regarding home property, the choice that folks face here is partly personal. Do you want to live back in the home someday perhaps, and partly financial, in that the home might need to be to be sold to generate investment income for living more than can be obtained net from a rental. A home that is kept while traveling will hopefully appreciate though. I think most folks should consult a financial advisor prior to make such a big decision unless your competent on your own (but good to have a second opinion). We have a FA who said we can do it. In the end, living nomadic is going to cost less than the lifestyle we have been maintaining prior to retirement ( and it was not extravagant, we are frugal but home and horse ownership is expensive). Retiring and keeping the old lifestyle was going to be too expensive, hard work, and shall I say too comfortable.

    After Africa, which seems less like global nomad and more like 2 years of vacation in the most wonderful place on the planet, we plan to go much more slowly, cheaply, renting places for 1-2 months at a time throughout Asia, South America, Pacific Islands, etc. Do it until the pull of family gets too strong, our health falters, or we want the rhythm of home based lifestyle again I suppose each nomad will know when the time is right to settle down again. But in the meantime, wow, it will be great and so happy to be nomadic ( less than 3 months we leave out home).

    Another option for folks that have a tight budget and want to travel is be a pet sitter, there are many blogs of folks that do this a lot in order to travel. Once you are established with a good reputation it seems very viable. We are considering this ourselves after Africa as a change of pace. We have a lot of experience with horses and dogs, so that helps. A lot of info on this on the internet. If youíre going to do this, then start sitting locally for a few years to get your experience and references, before counting on doing it on a regular basis..

    Other have mentioned that if a couple is doing this, they both should be all in. At this point neither of us can agree whose idea it was, we both want the credit, And we both agree that either one of us can say itís time to go home to the states and the other will fully support it. I'm sure Africa will change our perspective on being nomadic.

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  6. #44
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    Default Re: Becoming a swallow?

    Quote Originally Posted by Gungets Tuft View Post
    Nobody seems to be willing to give me a number or what I'll need to live till I die. All the FAs I talk to don't give a simple number, they're all wanting to enter it into a software system that they don't understand that pumps out a number.

    How does that 200x work. Is it nett, before or after deductions (as in my expenses now). Due to no advisor willing to put his tollie on the block I've resigned myself to working up till 20 minutes before my funeral.
    There are a lot of blogs online, look at 'The Escape Artist' and 'Mr Money Mustache' for starters, if they resonate with you, you might follow it further. One of the most liberating parts of the process for me was finding out the right numbers for myself. I learned everything I could about my pension, tax, etc. and tracked my monthly expenses to find out how much I was spending. Then you have to decide for yourself how much risk you can accept on your investment / returns and how frugal you are prepared to be once you stop leaving. No-one else has told us what to do and there is no-one else to blame if it goes wrong. We are now 100% responsible for our own lives and it feels good.
    It was a hard road to get here, make no mistake.
    Borrowed Pajero Sport 3.2 When in SA
    Hymer B584 2001 Fiat motorhome in Europe
    https://bokkiestravels.blogspot.com/

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  8. #45
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    Default Re: Becoming a swallow?

    I'm a year or so away from selling up and travelling full time. According to my calculations if I sell my house, cars, furniture etc and invest, my monthly expenses should be way less then the passive income being earned. I also have some rental properties. So while travelling I will be actually saving more then I am presently saving, with the bonus of not having to work.

  9. #46
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    Default Re: Becoming a swallow?

    Quote Originally Posted by Spook View Post
    How do one calculate "living cost"?
    On the one side its the amount of money you spend now to survive. When a swallow its the amount of money you need a month to survive

  10. #47
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    Default Re: Becoming a swallow?

    [QUOTE=Gungets Tuft;4575936]Nobody seems to be willing to give me a number or what I'll need to live till I die. All the FAs I talk to don't give a simple number, they're all wanting to enter it into a software system that they don't understand that pumps out a number.

    How does that 200x work. Is it nett, before or after deductions (as in my expenses now). Due to no advisor willing to put his tollie on the block I've resigned myself to working up till 20 minutes before my funeral.[/QUOI

    Its before tax the money you payout every month. How much money you can live with now. A living annuity let you draw down a pension, the law
    stipulate between 2.5%- 17.5 % the Asisa table say not more than 6% of your interest income. The Americans go for 4%.
    (as in my expenses now)+ tax x200. Tax should be added. ea, R37791- Tax R7791 = Salary R30000
    This will give you a rough estimate.
    Contact Anton Meyer he will help you
    Last edited by bertus; 2021/02/05 at 06:10 PM.

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  12. #48
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    Default Re: Becoming a swallow?

    So, I am going to do this. Or try to do it.

    I've built some (removable) storage and will go for three to four months to test my and old vehicles resilience.

    If I have survived at the other end, then I might decide to do it further and make the necessary decisions regarding the house and other assets.

    After second Covid shot on 24 August I will be leaving.

    Will be going up the West Coast, and will mostly try to do it without formal bookings (as per Wild Camping thread and because the budget is constrained).

    iOverlander is installed.

    This will be the scariest thing I have ever done, and should it work out, then am likely to do it until I can't any-more.

    Have done my best (given circumstances) to get everything in a straight stripe.

    Am totally sure I haven't covered everything, but now I just need to get off my bum and go, and see what happens. This has been the most difficult bit.
    1995 Defender 110 300tdi (nick-named Alfie)
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  14. #49
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    Default Re: Becoming a swallow?

    Quote Originally Posted by Gungets Tuft View Post
    Gave it a skim read, it is interesting, makes assumptions about the return one can earn on investments and then calculated the sustainable drawdown. I suppose it does indicate what you should have in investments, drawing 4%, and if you need R50k after tax. Simplistically about R20,20 million (working on 35% tax which I'm not sure about). I suppose if you've got paid off houses and vehicles R50k nett is a decent enough sum. The 4% drawdown should mean you don't touch the capital, but who knows.
    And some clever oke is going to check my numbers and correct me.

    Edit -correcting myself - over 65 years of age the current deduction on R25,000 a month is R3,300. So if myself and the Swambo draw half each it's R56k a month and R16.8 million at 4%. Now let the lofties correct me.
    I Live on 11K a month Pension and I will still run out in 12 yrs or so no increase but I have had an awesome life and very blessed

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  16. #50
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    Default Re: Becoming a swallow?

    Quote Originally Posted by CraigWatt View Post
    So, I am going to do this. Or try to do it.

    I've built some (removable) storage and will go for three to four months to test my and old vehicles resilience.

    If I have survived at the other end, then I might decide to do it further and make the necessary decisions regarding the house and other assets.

    After second Covid shot on 24 August I will be leaving.

    Will be going up the West Coast, and will mostly try to do it without formal bookings (as per Wild Camping thread and because the budget is constrained).

    iOverlander is installed.

    This will be the scariest thing I have ever done, and should it work out, then am likely to do it until I can't any-more.

    Have done my best (given circumstances) to get everything in a straight stripe.

    Am totally sure I haven't covered everything, but now I just need to get off my bum and go, and see what happens. This has been the most difficult bit.
    You're gonna enjoy this new venture Craig. I can almost bet you you won't return to the old life as there is so many new places to see and people to meet. The West coast and Northern Cape in particular has some real jewels. We're also looking at selling everything and hit the road next year. We are mostly into wild camping as well as farm rustic camping. Suggest we keep contact if you would like to. my no is oh ate tree tree seven to one tree nein five. regards Paul

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  18. #51
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    Default Re: Becoming a swallow?

    These ideas are a bit more hectic than my idea of being a swallow, but, Iíve decided after this winter that next winter weíll be doing a very small scale swallow idea - for July and august next year I want to find a furnished place on the kzn coast. The working from home movement will make this quite easy.
    this winter on the reef has been freaken awful.
    Graham Robertson
    Nissan Patrol 4.8

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  20. #52
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    Default Re: Becoming a swallow?

    Quote Originally Posted by Graham View Post
    These ideas are a bit more hectic than my idea of being a swallow, but, Iíve decided after this winter that next winter weíll be doing a very small scale swallow idea - for July and august next year I want to find a furnished place on the kzn coast. The working from home movement will make this quite easy.
    this winter on the reef has been freaken awful.
    agree...we haven't had such a cold winter in a long time ...it's wave upon wave! At least being a swallow you can travel to warmer or cooler places at your own leisure

  21. #53
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    Default Re: Becoming a swallow?

    Quote Originally Posted by Graham View Post
    These ideas are a bit more hectic than my idea of being a swallow, but, Iíve decided after this winter that next winter weíll be doing a very small scale swallow idea - for July and august next year I want to find a furnished place on the kzn coast. The working from home movement will make this quite easy.
    this winter on the reef has been freaken awful.

    The worst is, the guys down on the KZN coast also think the winter is awful this year but they have no idea.
    "The man who does not read has no advantage over the man who cannot read" - Not Mark Twain

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  23. #54
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    Default Re: Becoming a swallow?

    Quote Originally Posted by bigboy529 View Post
    The worst is, the guys down on the KZN coast also think the winter is awful this year but they have no idea.
    we did four years in Durbs. It was always so funny to be able to be swimming in the sea in July. And having (Jhb) mates come visit the whole of winter. Our house was like a train station.
    sitting here with cracked lips, dry skin and stinky slippers from being over-worn. Iím over this big time!
    Graham Robertson
    Nissan Patrol 4.8

  24. #55
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    Default Re: Becoming a swallow?

    We have just returned from a 3 week stay in the Kruger with 80% of our family - an amazing place to be when the lockdown happened, and so lucky to all be together.

    At Satara I walked though the campsite as it is always interesting to see the the different rigs, vehicles etc. and chat to people. At the entrance to the one donor house was a twin axel moerofabig caravan with a full awning double the size if the the van.
    The guys was very organised with the standard Kruger braai and his fancy one next to each other, plus all the need to have stuff including a satellite dish for DSTV.
    I asked him how long he had been there for - he was a bit embarrassed, but said three months - and then mentioned he was heading home at the end of Sept.

    Not too shabby Nige!
    Last edited by Onematch; 2021/07/28 at 08:40 PM.
    Rob Pollock

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  26. #56
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    Default Re: Becoming a swallow?

    Quote Originally Posted by Onematch View Post
    We have just returned from a 3 week stay in the Kruger with 80% of our family - an amazing place to be when the lockdown happened, and so lucky to all be together.

    At Satara I walked though the campsite as it is always interesting to see the the different rigs, vehicles etc. and chat to people. At the entrance to the one donor house was a twin axel moerofabig caravan with a full awning double the size if the the van.
    The guys was very organised with the standard Kruger braai and his fancy one next to each other, plus all the need to have stuff including a satellite dish for DSTV.
    I asked him how long he had been there for - he was a bit embarrassed, but said three months - and then mentioned he was heading home at the end of Sept.

    Not too shabby Nige!
    and I note that SANPARKS has introduced a 50% discount on camping tariffs for long stays (30 consecutive nights and more) in a Park (not all Parks and camps in Parks are included though..ie Croc Bridge and Lower Sabie excluded) that's in 2021 and 2022

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  28. #57
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    Thumbs up Re: Becoming a swallow?

    Quote Originally Posted by Paul Botha View Post
    and I note that SANPARKS has introduced a 50% discount on camping tariffs for long stays (30 consecutive nights and more) in a Park (not all Parks and camps in Parks are included though..ie Croc Bridge and Lower Sabie excluded) that's in 2021 and 2022
    That is very good to know, thanks very much Paul. I have put your number in my phone. I will PM you mine.
    1995 Defender 110 300tdi (nick-named Alfie)
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  29. #58
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    Default Re: Becoming a swallow?

    I am supporting the idea of becoming swallows of some sorts where one keeps moving to where the weather is most pleasant for a limited period. We once stopped over at Tshipise at the beginning of May, and the resort was already filled with "swaeltjies", as they call themselves. Some even fenced their stands off, and planted veggies. Washing machines and even dishwashers was not an unusual sight. That, however, is not my idea of camping.

    I think there are three prerequisites toe ensure an enjoyable, relaxed and worry free swallows type exercise.
    Firstly, one must only do so having sufficient retirement provision, and not as a last resort being in a retirement provision predicament. We have seen a few of these unfortunate situations during our caravan travels.
    Secondly, one must have somewhere to return to when the time comes, because it is a short term lifestyle exercise for people in good health, and
    lastly, one must have a dependable support structure for when things go wrong, be it health wise or materialistic matters.

    Sure, one's living costs can be reduced drastically by camping instead of staying in an expensive home where a monthly municipal account can easily be more than many monthly long term camping rates. The question to answer is then, why did we not consider it being more than adequately equipped to do so and having camped regularly in a caravan since 1970? The answer to that question came to us every time we returned home from a long touring/camping experience - home sweet home, there is no place like home!
    *
    Youth is such a wonderful thing - what a pity it is being wasted on the young.

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