Category: Victor Rigoni III

Why the Recent Boom in RV Sales?

Victor Rigoni III RVs

As the coronavirus pandemic continues to affect the day-to-day lives of humans worldwide, it is still disrupting just about every industry that relies on in-person consumers, including tourism, food service, etc.

However, while most businesses have experienced adverse consequences of reduced attendance, the RV sales industry is showing the opposite trend — RV sales are booming among consumers, and there’s no sign of this trend slowing.

In fact, Victor Rigoni III relates that at least one RV sales company experienced a 4,000% increase in sales during the height of the pandemic. That’s a wildly impressive growth figure for a business to achieve in any period, but especially during the current era where most enterprises are experiencing stagnation or losses.  

But what exactly is the relationship between the planet’s latest health crisis and the RV sales boom, and how can we explain this industry’s recent success? Read on below to learn more.

How Has the Covid-19 Pandemic Influenced RV Sales?

After the lengthy periods of lockdown and quarantine, people all over the planet were eager for a change of scenery. So once the restrictions began to lighten up around the United States, road trips began to see a surge in popularity. With small groups of related parties traveling in isolated vehicles, this seemed to be the safest way to explore the country under the circumstances.

So, naturally, the uptick in road travel led to a significant rise in RV sales. Recreational vehicles allow for a much greater level of comfort during lengthy road voyages, and with many proprietors offering short-term rentals without extended commitments, plenty of Americans were quick to seize the opportunity.

How Does RV Travel Make Road Trips Safer?

There are several ways that RV travel maintains the appropriate measures for social distancing that just can’t be achieved by other modes of transport and accommodation.  

Traveling by RV allows small groups of related individuals to traverse long distances comfortably and privately, and participants can easily be screened for the virus ahead of time to ensure a heightened level of safety. On the other hand, transport via bus, train, or airplane would place passengers in close confines with many strangers, thus increasing the likelihood of virus transmission.

Additionally, sleeping in a recreational vehicle is perceived as being safer than staying in a hotel, as it reduces contact with items and surfaces that have been handled by other people. 

How Significant is the Increase in Sales?

This boom in recreational vehicle sales isn’t just a subjective perception. The overwhelming majority of businesses participating in this industry have seen a staggering increase in profits in the past year. Of course, the numbers vary from month to month, but the general trend has seen them continue to rise over this period.

Overall, many businesses have regularly quadrupled their sales each quarter, but there have also been considerable surge periods where profit increase percentages reached four digits. 

Is the Boom Expected to Slow Down?

This notable rise in performance in the recreational vehicle industry is showing no signs of slowing down any time in the near future. If business continues as projected, RV dealers and rental companies are expected to enjoy indefinite continued success, as consumers still long for the freedom that road travel brings from COVID restrictions and safety concerns. 

As far as most economists and market analysts are concerned, this will be a stable and secure industry for as far ahead in the future as can be predicted.

Are RV Travelers Just Taking Long Vacations?

This surge in RV sales isn’t just a result of people taking trips from point A to point B for recreation. With the recent shift to remote work in favor of in-person work in office environments, it is easier and more accessible than ever for individuals to take their work on the road with them.

The mobile office space provided by a recreational vehicle has allowed many people to take up a temporary nomadic — getting work done on the go and traveling throughout the country in the process.

Victor Rigoni III RV camping

RV Travel as a Lifestyle

Of course, permanent nomads can’t be left out of this analysis. Certainly, the economic shift and public health incentives have encouraged more people to take up the RV lifestyle in the recent past, joining the masses of people enjoying the experience of transient living.

While this demographic made up a sizable chunk of RV consumers before the pandemic, it has undoubtedly seen an increase in members since these events have transpired.

Conclusion

It’s clear that the economic conditions brought by the Covid-19 pandemic have smiled upon the RV travel industry in a way that most other sectors have unfortunately not experienced. Interested parties would be advised to keep a close eye on this market in the future to see if this unexpected prosperity continues to flourish. 

Where Should I Retire?

When most people think about retiring, they often consider two factors: saving enough money for retirement and determining the right time. However, you will also want to start thinking about where you will settle. All of your savings won’t be worth much until you’ve figured out what your accommodations will be.

The world is yours to explore when you retire. Without a 9-5 job in the office, you aren’t tied down to any spot. But now is the perfect time to ask yourself: if you could live anywhere, where would it be? 

However, there are several factors to consider that will impact where it is best to retire. Victor Rigoni III notes that all of these factors will impact how much you will need to save up for retirement.

In this post, we will share the top tips for deciding where you want to retire. This way, you can explore all the options and make the decision that’s right for you! 

Should You Move in Retirement?

First, we should address that retiring doesn’t mean you need to move. In fact, moving for the sake of moving could end up doing undue harm to both your finances and emotional well-being. 

If you currently live in a town you love, own a mortgage-free house, and are surrounded by family and friends, then a move may not be the right choice for you. You may end up spending too much on housing, pay more taxes, and not have the people and things you love most. 

For those who desperately want to live out their retirement fantasies away from their hometown, moving will be worth it. But don’t make any hasty decisions. You should only move once you know that you can live a financially stable and healthy life wherever you choose to go. 

You don’t need to move immediately. So take some time to weigh the pros and cons and go when you’re confident in your decision. The key is to start thinking about this decision years in advance of your last workday. The last thing you need is stress once you’ve stopped working.

What to Look for in a Retirement Location

Do you want to leave your hometown and put down roots elsewhere? It’s time to start your research! According to expert Victor Rigoni III, here are the top factors you should consider before you choose where you should live for retirement.

Health Care

In addition to figuring out how retirement and health insurance works in your destination, also consider the quality of health care. Rural areas may not offer the quality of doctors and treatment you want in your later years. Even if this isn’t a pressing issue now, it will be eventually. 

Most people want to age in their own homes, and you may be one of them. But with hospital closures at an all-time high, staying home may not be feasible if health care is too far away. So staying near your doctors may be the safest route to go depending on where you are looking to move. 

Taxes

Each city, state, and country will have a completely different system of taxes. For example, some states will not tax any of your income in retirement (if they have income taxes at all!). However, make sure that you are financially prepared to pay up if you are moving to a state or country with higher taxes. 

Housing

For some, their future financial plans depend on living the rest of their lives in the house they have already paid off. If this is something you’ve factored into your financials, then moving may not be right. The housing market may be more expensive in your ideal destination. 

Consider that you will need to sell your home. You may even need to pay for an apartment or hotel while searching for a house to buy. It may take a while to find the right place to live out your retirement. 

Family

If you’re looking to move, then chances are that you’ve already considered that you will be away from family. However, you may also want to consider how that will affect your finances and future health. 

The price of flights continues to rise. Certain airports are more expensive to fly to than others. Depending on these prices and how often you want to see family, this may be a large financial burden for both you and your loved ones. 

Conclusion

There are many advantages and disadvantages to retiring anywhere, all of which will impact your finances. So, while you might dream of the perfect retirement community or new city you’ve always wanted to live in, it’s best to plan way ahead and consider all the factors that will affect your move.

With these tips for finding the right place to retire, we hope you can live out all your retirement dreams in the best home for you, no matter whether you decide to travel or stay local.