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Old 20-11-2019, 12:19   #1
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How much money to cruise fulltime?

Is it plausible to cruise full time on $500,000 US? Thatís what I have saved. Iím single, 51 & have a Catalina 42 thatís in great shape & paid off in full. Iím looking for a moderate to minimal life style- not something lavish.
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Old 20-11-2019, 12:25   #2
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Re: How much money to cruise fulltime?

50k per year and you can cruise until you are 61, 25k per year it will last until you are 71... do some moderate investments and you cruise till you are 81 ..... sounds ok to me
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Old 20-11-2019, 12:36   #3
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I reckon so, as said above if you can manage on $2K/mth and have half salted in a 10 year plan to earn some extra its a go'er..
Nice place to be..
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Old 20-11-2019, 12:36   #4
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Re: How much money to cruise fulltime?

$500K at 5% = $25K/year...and you still have the $500K in the end.

Whether you can do it on that depends on you, but there are cruisers getting by on less.

Do you plan to buy a boat out of the same $500K?
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Old 20-11-2019, 12:41   #5
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Re: How much money to cruise fulltime?

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Originally Posted by belizesailor View Post
Do you plan to buy a boat out of the same $500K?
he said:
have a Catalina 42 thatís in great shape & paid off in full.
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Old 20-11-2019, 12:46   #6
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Re: How much money to cruise fulltime?

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Originally Posted by Morgali View Post
he said:

have a Catalina 42 thatís in great shape & paid off in full.
Ah, indeed he did, so...$25K per year and conserve your $500K for the future and/or unexpected expenses.

Its not a luxurious cruising budget, but feasible if you keep expenses modest.
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Old 20-11-2019, 13:01   #7
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Re: How much money to cruise fulltime?

Of course you can. Two of us live and cruise (1/2 year on the boat, 1/2 year doing other stuff) on far less. To me, the key is being debt free. And I mean truly debt free. Boat paid off, no house mortgage, no car payments. Nada.

With that you are free to live as you please.
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Old 20-11-2019, 13:01   #8
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Re: How much money to cruise fulltime?

It depends on the type of cruising you do, nm's means money,hanging out in cheaper places for longer periods of time means less money.

I've had 30k years and 60k years, this was a 60k year

Checkout sailorboys budget threads, imho it's a typical cruising couples budget well documented, I think he was coming in at approx 36k usd pa.
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Old 20-11-2019, 13:04   #9
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Re: How much money to cruise fulltime?

Quote:
Originally Posted by Sofa King Fishy View Post
Is it plausible to cruise full time on $500,000 US? Thatís what I have saved. Iím single, 51 & have a Catalina 42 thatís in great shape & paid off in full. Iím looking for a moderate to minimal life style- not something lavish.

There are a couple of useful ongoing threads here detailing actual expenditures over the course of months/years. Look for posts by sailorboy and cthoops, I think. May be others, too...

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Old 20-11-2019, 13:07   #10
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Re: How much money to cruise fulltime?

Of course that 500k needs to do some work for you.
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Old 20-11-2019, 13:12   #11
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Re: How much money to cruise fulltime?

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Originally Posted by belizesailor View Post
$500K at 5% = $25K/year...and you still have the $500K in the end.
25k less tax and possibly a higher rate of tax taken again if you cruise foreign lands
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Old 20-11-2019, 13:27   #12
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Re: How much money to cruise fulltime?

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25k less tax and possibly a higher rate of tax taken again if you cruise foreign lands
There are tax exempt options available, like municipal bonds.

Ive never encountered a foreign to me country that tried to tax investment income.
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Old 20-11-2019, 13:35   #13
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Re: How much money to cruise fulltime?

The Balance will include the interest accrued and the principal withdrawn. The first few years will be mostly interest and a little bit of principal. towards the end, obviously mostly principal and little interest.

Try using any number of "Retirement Income Calculators":

https://www.bankrate.com/calculators...alculator.aspx

This has a 500K investment running around $2,500 gross ($2100 after taxes) per month for 30 years. There is a section to account for inflation.
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Old 20-11-2019, 13:37   #14
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Re: How much money to cruise fulltime?

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There are tax exempt options available, like municipal bonds.

Ive never encountered a foreign to me country that tried to tax investment income.
Not the other country, your country.
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Old 20-11-2019, 13:41   #15
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Re: How much money to cruise fulltime?

I started 3 years ago with a paid for boat and about $500k and have posted monthly since the start. My spreadsheet is attached and you can search my monthly threads by clicking my user name. ChuckR also has post 10-11 years of very detailed costs.

Good luck and have fun
Attached Files
File Type: xls Money spent cruising.xls (59.5 KB, 197 views)
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