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WestCoastRix · 06-03-2017, 16:43

Same here. I'm using the $6K p/mo. figure as my comfort/safety number. As long as you are inside the 4% retirement rule, should be ok.

However, SV Bebe did take several nice trips (Great Wall, Chichen Itza, back home, etc.) during their 10 years. They also paid a HEFTY amount to have their boat shipped from India to the Med. since they didn't want to risk the pirate situation at the time in that crossing.

Don't think I could really rough it with my wife. We'll have to really go the luxury/travel route, so I've even identified an $8K-$10K figure within reach. I just know that it won't be every part. More likely just the Med and Caribb.

Anyway...great to look at figures from real people and get comfort in forecasting!

**a64pilot** · 06-03-2017, 16:45

4% retirement rule?

Never mind I Googled it, I am planning on a 3% return, and my Financial adviser is planning in inflation and taxes of course to get to a monthly withdrawal.

I don't want to hijack the thread though

WestCoastRix · 06-03-2017, 16:47

Most retirement specialist will tell you to spend no more than 4% of your retirement funds in order to keep that fund healthy.

You can also say "What the heck, I might as well go out with a bang!" and ignore that rule. But it's nice to know that your fund will still be at least at the same value when you are done or if a health emergency forces you to land.

**Symphony** · 06-03-2017, 17:22

Quote:

Originally Posted by a64pilot

A few years ago someone posted an article written that used three boats and Families as examples with a proposed budget of the three, It started out with the lowest being I think a young couple that were driven to be cost conscious, with a minimal equipped boat and were driven to save money when and if they could.
The other end was an older couple with a fully equipped larger more luxurious boat and while they didn't waste money, they were less driven to save money and more driven to enjoy cruising and the budget was of course higher. Although I have never met them, it's my estimation that this describe SV BeBe and explains their costs.

I believe you are talking about Beth Leonard - she used this comparison in her cruising book and talks. Great resource for your self-evaluation.

chuckr · 06-03-2017, 22:49

Quote:

Originally Posted by ewcorlew

Thanks for the information it was very helpful. Can you tell us about you boat, how big, old, and is it a Power or Sail boat. Sorry if you posted it but I did not see it.

Thanks again.

We sail a Jeanneau DS40 built in 2000 launched in 2003 - she was purchased new and is the only boat we have ever owned --

chuckr · 06-03-2017, 22:52

Quote:

Originally Posted by WestCoastRix

I would say that SV Soulmates costs are in the middle ground. I think you "MIGHT" be able to go a bit cheaper, but at significant sacrifices in safety, comfort and/or range. Again, this is for Worldwide travel. I think many live on much less by staying in certain regions and are actually coastal cruisers.

.

You please explain how we are "sacrificing safety, comfort and range". What range? How many people do you know that have sailed to Russia? We probably have over 35k miles under our keel?
Please explain!

chuckr · 06-03-2017, 23:06

Quote:

Originally Posted by WestCoastRix

I can't see that happening any way and cover ALL costs. I could however see it get in the $2,500-$3,000 range if medical and travel/entertainment expenses were kept down - and it was a good boat to begin with.

Please explain how you plan to keep medical cost down? When stuff happens you got to get it fixed or you are not going anywhere.

And why would anyone want to keep entertainment costs down. As the admiral said - why would you cruise anywhere and drop the hook and sit? Gosh we travel all over the countries we have visited to one extent or another unless there was a security issue.

WestCoastRix · 06-03-2017, 23:08

Hey Chuck...I think you misunderstood my comment. I was definitely not referring to you. I was referring to those that claim that they can do it for $1,000 a month or so. Please forgive me if I was unclear.

I think that for those that say they want to do it for around that figure they might, but they would probably have to defer maintenance to just those immediate items that are broken as opposed to preventive maintenance (therefore affecting their safety). They would also have to eat very frugally and reduce their entertainment. Together with all the other real world costs that you have shared (as well as others) I still find it difficult to see how anyone thinks they could travel the world for less. Maybe local areas like Mexico or Thailand, but not true World Cruising like yourself.

I find what you have done pretty incredible and a definite goal of mine. Your expense report is solid and shows that you are not skimping or cutting corners while maintaining a proactive maintenance schedule.

Hope that explains my comment from earlier. Cheers!

chuckr · 06-03-2017, 23:09

As for our income we do this on our Social Security. And we do not spend it all. We both have 401k that are untouched so far. But I had to start taking some out last year and admiral has to starting taking it this year. Will it change our life style - nope - we will just bank it and continue as we are.

WestCoastRix · 06-03-2017, 23:17

Quote:

Originally Posted by chuckr

Please explain how you plan to keep medical cost down? When stuff happens you got to get it fixed or you are not going anywhere.

And why would anyone want to keep entertainment costs down. As the admiral said - why would you cruise anywhere and drop the hook and sit? Gosh we travel all over the countries we have visited to one extent or another unless there was a security issue.

Again..I was trying to make a point and I think I must have failed.

You and I are in complete agreement. I can't see how anyone can travel the world for less than you have without making significant sacrifices.

I hope my last post explains it more clearly. If not, please let me know.

chuckr · 06-03-2017, 23:18

Quote:

Originally Posted by WestCoastRix

After opening and running 28 businesses and several properties, I've learned my way around Excel!

The first year is off somewhere. Haven't spent any time trying to figure out where but it's adding up to 105%.

Also, you have a line item for Dinghy but no expenses related to that. Did you have the same dink the whole time with the same motor? or is that included in another expense line?

Thanks for sharing this. Together with what SV Bebe shared, it gives a pretty solid and realistic look at the costs.

Thanks for the catch on the Dinghy - not sure where it went and need to find it as we had to get a new dink in Panama when our old one died. I went back to what few spreadsheets I have and it is not there. The problem is we took our old computer in to get some work done on it in Tunisia and they blew up our hard drive - we had some folks here in Turkey get some of the data back and we did some backup before the problem so somewhere the data for dink got lost. Need to go back and see if I can find it.

chuckr · 06-03-2017, 23:34

Quote:

Originally Posted by WestCoastRix

Again..I was trying to make a point and I think I must have failed.

You and I are in complete agreement. I can't see how anyone can travel the world for less than you have without making significant sacrifices.

I hope my last post explains it more clearly. If not, please let me know.

Sorry got it now.

In 10 years we have seen may one cruiser trying to make it on 1k a month. They were in the San Blas on a beat up old junk rig steel boat and his biggest expense was using a welder at a couple of location to keep the boat floating. She got with child and not sure how they were going to continue to eat and keep the boat floating. San Blas is cheap but not that cheap and their income was his working on boats under the table.

daletournier · 07-03-2017, 02:31

Quote:

Originally Posted by robert sailor

Chuck, you motivated me to check our spread sheets from past years cruising. I mentioned in an earlier thread that costs for boat upkeep and replacement were tied into how much refitting you did before you left and the type of cruising you were doing as well as how long you were out there. Our average cruising expenses every month are $3850.00, our average boat maintenance and replacement expenses are $1880.00 per month, this reflects that we are outfitting and maintaining as we go and includes some very big ticket items such as a new Awlgrip paint job and a brand new Beta diesel and folding prop as well as small stuff like watermaker,autopilot,new chain,new canvas,solent stay,new hot water tank, new upholstery, new dingy/outboard etc. With less than 4 years to spread these costs out our monthly average is going to be very high, but when we hit 8 years as you have our average will have fallen substantially. Right now we average less than $1000.00 per month and I don't expect that to rise very much over the coming years. Our cruising costs include every penny we spend and that includes our travelling when we are not on the boat and we travel allot both inside countries we are visiting as well as back home. And for those interested our boat maintenance and replacement costs on our first year were 62% of our total cruising expenses and last year they were 13% . Our boat is kept in immaculate condition and many people think it's near new, it's our home and we like to keep it that way although it's not cheap.
Thanks for posting your detailed expenses Chuck, it's a real service to those getting ready to go. R

Hi Robert, your Canadian right? Your talking USD here I assume?

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daletournier · 07-03-2017, 02:55

Chuck, just looked at your spread sheet, thanks. Over the years I haven't kept note of my exact spending as my income has been fairly decent. As I've sold my business my income is now reduced and ive decided to budget, interestingly enough my rough calculations of years gone by and the budget I've set for us is almost exactly what you have averaged once converted to aud.
Its great to see your real numbers, as I wasn't sure how honest I was being...lol.

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