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Using the Sharing Economy to Make a Better Retirement

Using the Sharing Economy to Make a Better Retirement
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BY SEIJA SAMOYLENKO

Are you spending your 50s dreaming of all the RV adventures you’ll have once you’ve reached retirement? You might already have an RV that you take out on the road one or two weeks a year, dreaming of the day that the 9-to-5 grind will no longer keep you from roaming the country in the comfort of your rig. Speaking of comfort – do those visions of the future sometimes include an RV upgrade with a few more amenities?

Well, good news!  A new trend is emerging that can help you realize all your RV adventure dreams. This trend, sometimes called the Sharing Economy, could help you monetize your RV and use it to set yourself up for the retirement you have always imagined.

What is the Sharing Economy?

If you have used an Uber or Lyft rather than a traditional, or you’ve stayed in an Airbnb instead of a Marriott or a Hilton, then you already know what the Sharing Economy is.  The Sharing Economy is based on the idea of mutual benefit:  One person rents out their apartment to another. The first person makes a little money, and the second person gets a place to stay. Entrepreneurs see these peer-to-peer transactions as a huge financial opportunity. In fact, a 2016 Brooking Institute study estimated that the Sharing Economy will grow from $14 billion in 2014 to $335 billion by 2025. Part of that huge economic boom will happen with the peer-to-peer sharing of RVs.

With interest in traveling, camping, and experiencing the outdoors at an all-time high, demand for RVs is also at a historic level. In 2017 alone, the RV industry sold 500,000 units — more than ever before.  But with RVs ranging in price from $75,000 up to $125,000, not everyone is willing or able to purchase one of their own.  That’s why, each year, thousands of people seek out RV rentals in order to enjoy the RV lifestyle without having to buy one. This is a huge opportunity for RV owners: if you embrace the Sharing Economy and rent out your RV, you can grab your piece of the economic pie and use it to make your retirement dreams come true.  Peer-to-peer RV rental services like Campanda.com are out there waiting to help you.

What does it mean to “monetize” my RV?

That RV parked in the yard or sitting in storage is a GOLDMINE. Last year 75,000 people rented RVs via peer-to-peer services, paying an average of $1,500 to $2,500 in rental fees per week.  Imagine if you rented out your RV for just 10 weeks a year. You could be looking at additional income of around $20,000!

Is it worth it?

Most RV owners only use their vehicle for about three weeks per year.  The rest of this time, it’s just sitting there. Why not make some money off of it when you aren’t using it?  Choose a peer-to-peer rental service that offers good benefits like comprehensive insurance coverage, 24/7 roadside assistance, and live phone support.  If you choose the right partner, you can earn money without hassle or worry. 

If you rent out your RV in the years leading up to your retirement, how much extra cash might you make?  $40,000, $60,000, more?  That kind of income could help fund the RV trip you never dreamed you’d be able to pull off. It could enable you to trade in your current vehicle and upgrade to something newer, with more amenities. That cash could help offset the cost of ownership including maintenance, insurance, storage, and fuel. The Sharing Economy is presenting you with a golden opportunity that you might not have imagined when you first invested in an RV.  Don’t miss out on the chance to make your retirement dreams come true!

Seija Samoylenko is Manager, Customer Success at Campanda.com, the global leader in peer-to-peer RV rentals, with operations in 42 countries.

 

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