Annual Live-Aboard Budget?

[Weyalan]

For what it is worth, the recent economic downturn in the world stock markets mean that my "retirement fund" took a hit. I'm hoping that this is only a temporary glitch. Housing markets too are not as buoyant around here as a year ago. Again, I'm hoping it is only temporary. A frank an honest appraisal of my (and my partner's) current assets shows that we are between 100k and 200k shy of where we would like to be when we cut the lines. That is still looking like 4 or 5 years. Still, life is good.

[MarkJ]

Originally Posted by Weyalan

we are between 100k and 200k shy of where we would like to be when we cut the lines. That is still looking like 4 or 5 years. Still, life is good.

I know its not easy looking at another 4 or 5 years but don't over estimate what you need to go do it. I'm not saying chuck it all in now with what you have, as, yes, the ability to have a good income while cruising is important!

I would guess from our perspective in our first few months is that the first year out will be an expensive one.




Mark

[Weyalan]

The limiting factor for us is not the money - we would get by with what we have now, but my partner has 2 children aged 15 & 16 who are not at all interested in a liveaboard lifestyle, and I don't think it would be fair to impose it upon them, so we will stick around until we feel it is reasonable to boot them orudely out of the nest, so we can sell the nest and move on board, heh

[Little Otter]

i spend a little more than some people just because i have to refuel my freinds liveaboard boats after i use them.

[MarkJ]

Originally Posted by Weyalan

2 children aged 15 & 16

Doesn't your newspaper have classifieds? Someone will want the kids if the price is low enough.

[cat man do]

Originally Posted by Weyalan

The limiting factor for us is not the money - we would get by with what we have now, but my partner has 2 children aged 15 & 16 who are not at all interested in a liveaboard lifestyle,

Two Children???

Well theres the $200k shortfall taken care of.

I would suggest $100k may be a safer option though.

Young should be allowed to sell kidneys for $50,000 | The Courier-Mail


(Where is that tongue in cheek smiley ? )

Dave

[jzk]

Originally Posted by Weyalan

The limiting factor for us is not the money - we would get by with what we have now, but my partner has 2 children aged 15 & 16 who are not at all interested in a liveaboard lifestyle, and I don't think it would be fair to impose it upon them, so we will stick around until we feel it is reasonable to boot them orudely out of the nest, so we can sell the nest and move on board, heh

My daughters are 10 and 3, and my son is 2. Our plan is to leave in 4 years, just after the 10 year old finishes 8th grade. She is not a big fan of the idea of missing highschool. However, I honestly believe it is because she doesn't know what she is trying to say "no" to. She has only seen one grain of sand of the entire beach, so she really can't make these kinds of decisions on her own. If she decides to go to college, she will bring with her an education that simply can't be had in a brick and mortar "high-school." She will have friends all over the world and will have been impacted by many different cultures. I also hope to avoid the issues of teen drug use, etc. that are a parent's worst nightmare.

[Weyalan]

I understand your p.o.v. but seeing as I only came into these 2 kids lives less than 3 years ago, I really don't feel that it would be reasonable to impose my lifestyle choices on them. At 15 & 16 years of age, they will both "fly the nest" in the next 3-5 years anyway, so I am (relatively) happy to bide my time and keep working on the kitty until we can cast the lines without any press-ganged crew!

[swagman]

Hey Weyalan,
If you're basing an exit plan on the kids flying the in 3 - 5years , dream on my friend.
They have this inbuilt invisible bungy cord which you'll find will see them bounce back, and back, and back again.
Of course this should not halt your plans to head out into the blue yonder - but do be warned - it is sooo easy to find an excuse not to do it - and we've all got close stories of pals who waited for yet one more condition to me met and sadly, did not get there.
Enjoy
JOHN

[Weyalan]

Thanks for the advice, John. I understand what you are saying, having witnessed plenty of chicks that are particularly loath to leave the nest... or should I say the free accommodation, free meals, complementary laundry service, TV in bedroom, unlimited hot water for showers, nest?

I do not think that this will happen in our case. We have some "milestones", both financial and boat refit that will determine when we can head off into the big pond. Those milestones, at current rate of progress are going to take 3 or 4 years to achieve, which just happens to coincide with the time when we think it is reasonable to tell the kids to "bugger off" (If they haven't already done so).

[Bradley]

Assuming you are swinging on a hook, there are some basics I have learned after 7 years of living aboard in a relative comfortable life style:

I would think $1000 a month would cover ordinary expenses -- food, booze fuel, entry fees. In some places it can be substantially less. Remember that great cruising is usually found in remote areas where money cannot be spent.

Health Insurance
Boat Insurance

Boat Maintenance: This is very variable. What is the shape of the boat. Do you like the new improvements, etc. Some things like bottom jobs, yearly haulouts are givens. Dinghy and outboards should be depreciated over a short life span of maybe 4 years.

Unexpected contingencies: Major problems with the boat. Dinghy theft. Need to fly someplace.

It is really hard to put a one year figure to the cost due to the above vagaries as well as 100s of other. Averaged out, at today's dollars, I would think a relatively good lifestyle would be had for between 20 to 25000. A frugal person who spends little on boat improvements probably would be 25% less.

[chuckr]

God managed to find a buyer for my house in april and i left miami on may 4 headed north bound - combination of inside and outside and using my sails whenever i can - i do have a relative new boat but still things break and i am still finding issues such as a washdown pump - so boat repairs are minimal -
but fuel costs are HIGH - some of the non sail boats are down to one engine and low speeds and some are not moving at all
God gave us free power so why not use it
but fuel cost is getting out of hand and so far is my biggest expense
chuck and svsoulmates
ki4sry
in new bern for 12 more days

[Strygaldwir]

God is into realestate now!!

(I am getting sacriligous in my old age!!!)

[GordMay]

ME: "Excuse me, what time is it right now?"
WOMAN: "It's 11:25PM."
ME: (confused look on my face) "You know, it's the weirdest thing, I've asked that question thirty times today, and every time someone gives me a different answer."

So it goes with budget figures.

[ess105]

I am reminded of the Eisenhower quote : “Plans are useless; planning is priceless.”

A budget is nothing more than a financial plan and in of itself is useless. It is the budgeting process which is worthwhile as it is this that shapes the thinking.