I am 47 and recieve SSD (disability) have for a number of years now, from a back injury.
In 2007 I desided to buy a boat and live on it. It took some time but I started sailing and found I could do it with help.
My back injury was from a 21' fall while at work so I did recieve a number of settlements to help me get started and set some money
The SSD amount is desided by how much you paid in over the last 10 years you worked, so it will be different for all(they do have limits).
When I first became disabled I recieved a lump sum and used a part of it to buy the boat while saving the rest to hold me over while waiting for the other 3 settlements I would recieve.
About two months ago I recieved two settlements and placed one into investments while the other was spent to upgrade the boat, repower
, new a/c heat all elcetronics.
This became alot more costly than i had plan but still was able to do without going into my investments.
I can tell you now alot of things will come up when you refit
a boat so whatever budget
you set by the end it will be double. I started with a Budget
of $15K but we are around $25K as of right now on the upgrades.
My wife and I plan to travel the Great loop on my monthly SSD income
, I do not see any reason this can not be done. The cost to live at a dock
is more than you spend to live while traveling, unless you spend alot sight seeing.
If you plan to live on a low monthly income
you had better plan to have your boat as self supporting as you can aford, ie. wind
gen, solor and so on.
I guess in short I am saying that you can live and travel on any income amount if you plan things right. oh alittle good luck helps.
wish you all the best,