I have returned from British Columbia with my new trailer. I have had a very good experience with it so far. I feel I have made some good choices. I am looking forward to acquiring knowledge and responsibility as I embrace my new lifestyle.
Category: the truck & the trailer (Page 2 of 3)
Now that I have acquired a new tow vehicle it has come time to part with my dependable little red pickup. She has served me well, enabling me to get out and do what I enjoy doing. But unfortunately she is not strong enough to tow, and has considerably too many miles. It has been a good relationship for the last 7 years and she never let me down. I bought her from the original owners who took very good care of her. I sold it to my mechanic who is the only person I trusted to work on her. And he paid me what I wanted for her. So am moving on, with a similar transaction with my new vehicle. Everything seems so right.
DaNeZeWa. August 12, 2010.
I have just accomplished two major goals toward my nomadic adventure.
On Tuesday I made the final payment on my trailer. Construction will begin next week. I have benefited from the ever increasing exchange rate on the US Dollar to the Canadian Dollar. Cooperative and helpful people all the way through all of these transactions. It hasn’t been easy managing my limited financial resources and negotiating international business transactions. I still have legal stuff and paper work ahead of actually picking the trailer up in May. But the money part has been done.
Friday I took possession of my tow vehicle. 2000 Toyota Tundra 4.7 V8 4WD with factory tow package. From original owner. Low miles. Excellent condition. This was one of those special transactions between two human beings that reminds me so much of when I got my original Toyota pickup 7 years ago. First pictures Provo Canyon, Wasatch County UT.
I am not going to miss this at all! 1030 pm. Having to clean off my truck to go to work! Meanwhile I have had an appointment with my retirement counselor at Human Resources. She gave me a checklist of everything I have to do. August 1 looks like a good target date for a number of reasons. Utah state retirement has begun working on an official calculation of my monthly pension. Social Security application will be submitted April 1 which includes Medicare. The paperwork for the University goes in on May 1. It’s quite the process. But having a goal, doing the homework, getting started early, and making continuous progress is the only way it’s going to get done!
Wow. I didn’t want to be having do this. But. In order to get me over the hump of making these two significant purchases and transitioning into my new lifestyle, I have decided that two components are going to be necessary.
Since I am making withdrawals from one of my retirement accounts to finance these deals, 20% is being skimmed off the top for IRS withholding. I’ll get most of it back, but not until spring. I am taking out a loan to offset this difference, and will have it paid off in a year.
As I am going through my possessions it has become apparent to me that I am still going to have way too much to load into my trailer. I am talking about my research materials for my projects. Books, book notes, class notes, papers, original artwork, family history and autobiographical material. This is stuff I realistically cannot dispose of. So at least for the immediate future I am going to rent a small storage unit until I figure things out. To start off with, I am going to have to consider that I am camping, forever, and take it from there. Just the food, water, clothing, cookware, and few pieces of technology are going to add up quickly. I have a 1000 pound capacity for the trailer, and a few things I can carry in the truck.
Paying taxes on financial transactions is now the big challenge to making things happen between now and June 1. Withdrawing from my retirement account automatically deducts 20% to the IRS withholding. I will probably get that refunded, but not until next year. I got a good portion back this week from the withdrawal I made last June. Then I have to figure in sales tax at 6.85% on both the trailer and truck when I register them. If I pay off the trailer first, which has a due date and a fixed amount ( USD-CAD exchange rate notwithstanding) then I will see what I actually have left for a truck. If I had known two years ago what I know now, I probably would have done things differently. For instance I transferred by retirement account from one in the stock market to a guaranteed return because I didn’t believe the market could sustain a value of 18000. Once I get past the first of June everything should be okay.
I have just signed off on the options list for my new trailer. That had to be completed by February 10. Final payment of the balance is due April 10. The trailer will be completed on May 10. I will drive up to the factory in British Columbia for a 3-hour orientation, and then they will deliver the trailer to the port of entry in Washington state. It’s all happening.
I am using money from one of my retirement accounts to pay for a larger truck and the trailer. I transfered this account from a stock market account a year and a half ago because I did not think the market would sustain a value of 18,000. Hah, what did I know? Keeping an eye on the Canadian-U.S. exchange rate prompted me to send a sizable payment north in June. Of course 20% of my withdrawal was withheld to the IRS. And the servicing bank exchanged my funds at a lower rate than I expected. Amateurs at play in a sea of sharks. I am only buying a little house on wheels, not studying international finance.
Now I have completed my 2016 taxes and find I am getting a nice refund after all. I will withdraw another sum from the retirement account to begin shopping for a larger truck. I am confident I will find what I am looking for, both in specs and price. My trusted mechanic is going to be looking for me, and intends to purchase my old truck as part of the deal. He already has a buyer for my truck, so it looks like everyone is going to benefit from these transactions.
And on to make appointments with Human Resources about my retirement plans, and talk to the people at Social Security and Medicare. Wow.