On the day my grandfather celebrated his 62nd birthday, he decided to retire and sell his family home. Filled with excitement from the house sale and a fruitful retirement they had diligently saved up for over four decades, he and my grandmother purchased a pre-owned RV and embarked on a new adventure.
Their journeys led them across multiple sun-soaked states like California, New Mexico, Arizona, and Florida, finally settling to spend every winter in Florida. During summer, they would park their RV right next to our house, giving us the joy of their presence for half the year.
Little did I realize the innovative approach they had taken towards downsizing and maximizing their retirement savings. Their smart planning ensured not just a fulfilling life with longevity (grandpa lived until 88 and grandma until 90), but also a little inheritance for their nine children.
Such alternative retirement trends are increasingly being adopted by many seniors. Here are some cost-effective retirement plans that might catch your interest:
1. Associate with NOMADS: An acronym for Nomads on a Mission Active in Divine Service, NOMADS is an organization where retirees offer volunteering services from their RVs, requesting in return only a free RV parking space and the necessary supplies to conclude the service program. Take the example of Dan and Virgie Brown, a couple in their 60s who’ve dedicated their efforts to various community services, reported by CNN Money. NOMADS presently hosts over 1,000 fellow members from across the US.
2. Volunteer at National Parks: Some seniors opt to donate their time at national parks, and in return, enjoy free lodging and meals. Neil Adams, a 69-year-old retiree featured in CNN Money, has been doing so for almost eight years.
3. Live with a family member: If viable, retirees could consider selling their homes and moving in with their children and families. This way, they can be involved in their grandchildren’s upbringing, ward off isolation, and enjoy a steady lifestyle. However, this arrangement may not suit everyone’s preferences.
Retirement doesn’t necessarily have to mean idle time. It can be a splendid opportunity to experience multiple facets of life, engage in things you’ve always longed to do but couldn’t due to lack of time or freedom. But traditional retirement pursuits, such as travel and leisure activities with loved ones, can get pricey. If you wish to save costs or if your retirement funds aren’t ample, these three alternatives can help you live a fulfilling life while being economically savvy.
So, do you see yourself adopting similar retirement choices?
