Originally Posted by anotherT34C
Hope you make it. Back of the envelope, you'll need to sock away about 160K/yr to make it happen... and that's to give you the ~25K/yr you think you'll need. I hope you don't get discouraged if things take longer than you hope.
You remind me a bit of a dude, Sean (sully) who used to post pretty often around here. He might be useful to look up and gather advice from. As I remember it, he seemed pretty adept at doing what you're planning. Maybe someone here knows where he went off to?
I'm probably working the math a little diffrently than you are. While I might have enough money to buy a new production yacht, I have no desire for a new production yacht. I'm not particulay fond of the look of them, and I'm REALLY not fond of the price
tag. Expecally if I'm going to have to spend sigificant amounts of cash to get them ready for crusing.
I am rather handy with the rest of my life, so I see no reason why this should be diffrent. I've always had used cars, always done a bit of mechenic work, and I can weld. I'm not looking for a "fixer up-er" but a reasonably used vessel seems to offer many advantages to me. Anything in steel
, or ferrocement I'm comfertable with. About the only thing I REALLY dislike is a wood hull
. I just don't trust it. To each his own I guess. At least for me, I think that works the math much better in my favor.
I'm in no hurry, so I'm working under the assumption that between now and the time I want to make this happen, I'll get ahold of a used boat
. I won't even be in the market for at least another year, so I've got plenty of time to look, test, and think. I honestly have no intention of buying
the boat untill about the time I'm ready to stop working. I see no point is having a huge pile of cash sitting on the water
, sucking up more cash in maintance and morring fees
, when I can't enjoy it. Again, I think that works the math in my favor.
I also like to think of myself as a savy investor. It could be just my ego talking, but I lost
nothing in the 2008 stock market crash. I didn't have the guts to short stuff on the way down. I made a bit in the 2009 stock market rebound. Not as much as some did, but enough to put a smile on my face. I did lose some money in my house, but no worse than what it would have been if I'd have rented. (rents were rather high and housing prices were LOW where I was.) If I can repeat what I've done for the last 3 years over the next 3 years, I'll be REALLY good, but I'm not counting on that though. Again, I like to think that puts things in my favor.
Goinsail makes a very good point about "what happens when you come back."
Honestly I don't know. I've thought about it, but I've never had a plan more than 5 years into the future. It's just to dang hard to figure out what might happen, and what I might want at that time. I know a few things. I will take care of my wife. I will always put food
on the table, and a roof over our heads, and do my best to keep us together. When we have kids
, I will take care of them. I will keep in touch with my family
, and hers. But how to know when we've had "enough"? I don't know. I don't intend to really "go" anywhere special. Circumnavigation
? I don't think I want to do that, but it might be diffrent when I actualy get on the water. I know I want to go to the Carabean Islands for a while. I'd also like to see Europe
by boat. At some point my wife and I will want to go "home". I don't have a CLUE where "home" is for us. She was an airforce brat, and has no "hometown". I had a small home town, but in the last 8 years since I really left home it's changed so much, it's not really home anymore. The city grew out to meet it, and changed everything. When I go "home" I don't think I'll go there.
I know one reason to call it quits is when the money runs out. When I do go curising I will have a fund for "retirement" when I'm 60. That fund will remain fully funded, with no exceptions. I know I WILL have health
problems when I'm old. I have at least one genetic based dease that WILL catch up to me when I'm in my 60s. I KNOW I can not depend on working much past that point. My great great grandad and my great aunt died of it. My grandmother has it, as do my dad, and all of my brothers. Sometime it complete wrecks your health
, sometimes it does almost nothing. I have to expect it will try to wreck my health, and preper for that. If it doesn't, then myself, my wife, and my children
(hopefuly) will be better off for it. If it does, at least I'll be roughly ready.
As far as finding a way to work while on a boat, it's a great idea but I'm not sure how to do it. I know people do charter
work, but that looks miserable to me. I've thought about being a writer, but my writen language skills are rough. (notice my spelling here!) Maybe I could work on that. Some people trade
stock, bonds, and foreign exchange and make money at it. I don't think I have the skills to really be able to count on that. I might find "light" work as a yacht mechanic
, or something. There are too many horror stories of sorry mechenics on the forum, so I figure I could be at least as good as most of them. However, I don't want to depend on that for more than light spending money. I guess many things are possible, but you don't know what will work untill you try it.
In anycase, I thank you for the information and the perspective. This is the way I look at it all. To each his own.