My Dream Retirement-Is this Possible?

[a64pilot]

Originally Posted by letsgetsailing3

I'm going to disagree with that one. The moves, deployments, and demands are tough, but there are also challenges in the civilian world. I think the military divorce rate is lower than the civilian one.

That said, every case is unique, and if getting out saves the marriage, then do get out.

I think it depends greatly on what it is you do in the Military, there are many thousands of essentially 9 to 5 jobs in the military so yes I painted a broad stroke and shouldn't have. Like my comments on Civilians grouped all into one, and it shouldn't have. What I should have said is if your in a primarily combat MOS, then it's not condusive to family life.
Most of us knew that going in of course, we thought we would be different.
Me, I wouldn't trade the experiences I've had for anything, just there is a time and a place, and my time was over. I had seen that, done that, had many T-shirts and it was time for me to leave. I can see the OP is exactly where I was, just I caution him to slow down and not act too rashly. There is life after the military.
I'd bet he either gets out and gets a civilian job and does limited cruising, or gets out and goes cruising, supplementing his income whilst doing so as a Diesel mech., or an HVAC tech or whatever he can do. Many long time combat MOS types learn to do almost anything with nothing, it came with keeping the most sophisticated equipment available operational in the most austere conditions possible

[Celestialsailor]

Originally Posted by sailorboy1

I suggest you spend a lot more time reading actual cruiser blogs to see what life on $1500/mo means. While I believe it can be done I personally wouldn't find it worth the doing as yes you sailed around the world, but you don't really see anything.

Ya...and if you read mine, you would see that at anchor, I spend about $700 @ month. If you truly don't think it's worth voyaging because you feel you need $1500 a month, than maybe you shouldn't go.

Originally Posted by BandB

Does your wife work? Is she going to continue to do so? You say she won't be sailing with you all the time so that implies you'll still have a land home. I'm really confused because it sounds like you're making plans and budgeting just for yourself.

You've essentially spent all your adult life in the military. You're going to find yourself returning to a world you don't know and it doesn't work like the military. Be careful about making too many additional decisions too fast. The readjustment can be challenging. Most find themselves looking for civilian employment and many of those wish then they'd stayed 30 years. Husband and wife aren't used to being together all the time, although your plan doesn't have you together all the time.

Well...another "Debbie Downer"...there are people from every walk of life out here cruising with or without personal problems. Somehow they make it work.

Originally Posted by roverhi

You can live on a boat and cruise with the income that you will have. it will not be a luxurious life style but one that one leave begging on the streets for food, either. Ditto what others have said about the boat. There are a ton of boats that would be comfortable for a couple for $50,000 plus or minus plus a bit for cruising essentials like good ground tackle, self steering, etc.

Keep the boat simple. Everything you add will require maintenance/replacement. If you don't have it, you don't have to keep it working. Many owners seem to be possessed by the toys on their boats and spend their time and considerable money making everything work.

The hardest part may be getting the Admiral to buy into the frugal life style.

Finally...some common sense. I have seen every imaginable floating craft anywhere from 25 ft. to 120 ft. From $2000 to $1.2 million. You rise or lower yourself to the occasion.

Originally Posted by letsgetsailing3

$1300 per month is $15,600 a year. That's not a lot of money on land, and even less if you have to maintain a boat.

I feel like a lot of people aren't doing the math. Yes, it's possible. But is this really what you want to lock into at 43 years old - your peak earning years? It would be really easy to say yes, that's a great plan.

I'm sure it can be done, but you're setting yourself up for a pretty frugal lifestyle.

There are lots of feel-good answers here, but the truth is that while you can make this work, you should think carefully about it. You greatly increase your odds of success by working a few more years.

Oh, and you don't think I "get" your situation? I've flown space-A. Yes, the flights might cost $30 each. But the taxi to get to the air field will cost you that as well. You'll be buying a taxi on the other end as well, or calling someone to pick you up. Oh, how'd you call them? Not on your smart phone, since a $120 phone bill is quite the chuck of that $1300. And if you don't get on the flight, you'll be getting a room on base. Dinner will have to be fast food on that budget. What if there aren't any flights where and when you want to go? You'll be paying for a commercial flight. You get my drift.

If you're going to cruise long-term, you'll need to budget for fuel, rations, and boat maintenance. Think 10% of the boat cost yearly. Things on a boat will break, and when they do, you'll be paying for a slip or dry storage, as well as repairing or replacing equipment. All the while, your savings will be going down, not up.

Don't get me wrong. It can be done. You have a guaranteed income which takes some worries away, but it might not turn into the romantic care-free lifestyle of your dreams. You and your wife need to mentally prepare yourself for a fairly frugal lifestyle.

Your $1300/month and savings give you some control over your financial future. Do a budget and make sure you can live with it before you go this route. I'm not trying to burst your bubble, just to make sure you've considered all the angles.

Originally Posted by Wind_Dreamer

Need your thoughts, opinions or experiences.

I will be retiring from the US military in a few short years. I have spent 5 years of the past 18 deployed to not-so-nice area's around the world. To give you an idea, I have been shot and blown up several times but I still have all my fingers and toes and I would like to think that I still have a brain that functions at least minimal capacity.

I would really like to experience some peace in my life although the fight is still not out of me because I am a stubborn SoB and I still love challenges. I am just not interested in that kind of fighting anymore. I don't see myself becoming a hermit and retiring to some cabin high up in the mountains. I despise the cold because I have spent so many nights freezing my arse off above 9500' in the Himalayas that it no longer interests me in the least. I quit skiing a few years ago because the thought of being cold takes the fun out of it (and I used to be Ski Patrol in Alaska).

In 2 years, I will be 43 years old when I retire. I will begin collecting a pension immediately and I will collect roughly $1300 a month for the rest of my life. I enjoy sailing but the biggest I have sailed is 22' and I have no blue water experience what-so-ever. My dream is to purchase a 36-40' monohull and cruise the world for the rest of my life with the wife (no kids and no plans on having any). This dream came to me late in my career and I do not think I have had significant time to prepare (also, the last time I had to move, I took a $20k real estate loss which put a little pressure on my savings).

I would prefer to pay cash for a boat and use my measly pension to live off of but in total, I think my combination of savings plus investments will only be around $130k +/-. I am truly in love with Aluminum monohulls but $130k doesn't come close to meeting their criteria.

The plan is to crew for 1-2 years after retirement in order to gain blue water experience and determine if this is something I really want to do. I don't want to be that guy that blows their life savings on a boat and 3 months later realizes that this is as bad as being 9500' up in the Himalayas in the middle of January.

So let's say I get my blue water experience and this is something I still want to do. Do you think it is possible to sail around the world on $1300 a month? I have read stories of people living on $500 a month but they seem to be liveaboards stuck in a slip somewhere and from what I have read, it doesn't seem like they have left port much except on day trips. I know with $130k cash, I can buy a decent glass boat and that might be my only option.

Please tell me what you think and feel free to provide any intellectual/ professional guidance that you think may help me in my endeavor and you have any questions that might help you help me, feel free to ask. Thanks in advance for your help and expert opinion.

Be careful who and what you listen to on these forums. Some if not most do not have boats and some if not most have never taken off. No one says you have to do this lifestyle the rest of your life...most don't. But to get away for awhile and straighten out your priorities is a priceless gift you can give yourself. A few posts ago, on my blog, I outlined a cheap way to go cruising. Based on what I've seen so far in Mexico.
Most boats I see that are really voyaging are well under $100K and 34- 45 ft. in size. There are even a few 32's that costs $10K and are circumnavigating. Don't miss out. Retire when you can and rise or lower yourself to the occasion. Life is whats happening while your busy making plans...especially from a keyboard.

[Wind_Dreamer]

Celestialsailor, thanks for the experienced words. I understand how forums work and I know some persons here my not even have sailing experienced. Maybe they have trolled these forums long enough that they can talk the talk but have never walked the walk. It is important to take everything one hears with a grain of salt. Everyone sails differently and on different budgets. Some persons need to sail with large budgets because that is their way of life.

[Wind_Dreamer]

A64pilot, I understand the game and I am smack dab right in the middle of it. When to call it quits is the real question here. I can retire in 2016 but if I take a promotion next year, I will have to extend an additional 1-2 years. This will of course increase my retirement pension but at the end of those 2 years, I could possibly be looking at another promotion and another extension.
So what I am really probing for here is for information and I am gauging peoples responses and judging my possibilities and simultaneously negotiating with my soul on when call it quits.

[DumnMad]

I think you have a viable plan that can be improved with a really good boat purchase and some attitude and capacity to earn pocket money.
I've have great memories of happy chappies who cruise for a period then work for a period(sometimes at a fraction of what they are worth) They enjoyed the variety of lifestyle and friendships made. Often boatwork was gifted to neighbours and usually followed by "sundowners"(happy hour.)
I suspect handy person like yourself will be unhappy if not getting satisfaction from doing something to benefit society. It can be quite minimal. e.g. Earning a little money to spend in cafes is good for both youself and the local community.

[a64pilot]

Originally Posted by Wind_Dreamer

A64pilot, I understand the game and I am smack dab right in the middle of it. When to call it quits is the real question here. I can retire in 2016 but if I take a promotion next year, I will have to extend an additional 1-2 years. This will of course increase my retirement pension but at the end of those 2 years, I could possibly be looking at another promotion and another extension.

So what I am really probing for here is for information and I am gauging peoples responses and judging my possibilities and simultaneously negotiating with my soul on when call it quits.

Absolutely, what I'm saying is to pass Go and collect the $200. Many, Many good people stay in as getting out is scary, it's unknown. Talk to people that have been out for more than a couple of years, every single one of them will tell you they miss the people, the camaraderie, etc., but none will tell you they miss the military, OK maybe some CSM or General will, but no trooper will. I was Cav, understand.
Eventually you will get out, it's inevitable. You have two choices, either stay and try to make this your career as in don't get out until they determine your service is over or get out now while you are young enough to begin a second career. Really the same decision you made 15 yrs or so ago, you need to make again. that is stay or get out.
I have never regretted retiring, you start life over again, literally. In five yrs, I plan on having at least one other retirement to go along with the military one, ten yrs would give us three total not counting SS, but I can't wait ten. Our youngest is 15, once she starts college, I'm afraid I'm gone cruising.
Trust me, pass Go, collect the $200. You were successful in military life, you will be successful in civilian life.

[Wind_Dreamer]

Originally Posted by a64pilot

Absolutely, what I'm saying is to pass Go and collect the $200. Many, Many good people stay in as getting out is scary, it's unknown. Talk to people that have been out for more than a couple of years, every single one of them will tell you they miss the people, the camaraderie, etc., but none will tell you they miss the military, OK maybe some CSM or General will, but no trooper will. I was Cav, understand.
Eventually you will get out, it's inevitable. You have two choices, either stay and try to make this your career as in don't get out until they determine your service is over or get out now while you are young enough to begin a second career. Really the same decision you made 15 yrs or so ago, you need to make again. that is stay or get out.
I have never regretted retiring, you start life over again, literally. In five yrs, I plan on having at least one other retirement to go along with the military one, ten yrs would give us three total not counting SS, but I can't wait ten. Our youngest is 15, once she starts college, I'm afraid I'm gone cruising.
Trust me, pass Go, collect the $200. You were successful in military life, you will be successful in civilian life.

I am not looking to start a second career. I am looking to start cruising immediately upon retiring. The most I would do is to go back to school and finish up the only year of post 9/11 GI Bill I have left. But I would be looking to earn certificates and training I could use while cruising. One thought is to complete my ANSI and ANC commercial diving certificates. Subsequently this will certify me in welding and underwater welding which can help out a great deal when cruising. I am also looking at completing my PADI recreational SCUBA Instructor certificate before I get out. Things that will help me make additional money while cruising. I can already break a motor down and rebuild it but I have no certifications to prove it. Like in Shawshank Redemption, "Get busy livin' or get busy dyin'".

[KDH]

Commenting at the tail end here but I would like to add a few comments. I am retired military(USAF) and my husband is retired military (RCAF). When calculating inflation you can not count the cost of living adjustment as fully tied to the true inflation rate. In the US the cost of food, believe it or not, is removed from the equation. Food has jumped in my observation, approximately 20% in just the last few years. Next, I strongly suggest spending less on the boat, rather than more and I suggest you look in Europe for a boat, not the US. We have been cruising in Europe and I am aghast at the large number and variety of boats at great prices. It will take you at least a few months to a year to find a decent boat. Europeans cruise more simply and in smaller boats than Americans tend to in my observation. I suggest you spend that year continuing to work and pay off all your debt. Buy the boat while you are still working (military or civilian). Sail some, work on the boat and move onto the boat still working (transition year). If all your debt is paid off, leave work year three and cruise. That way you've accomplished multiple objectives and you will only be 45 or 46. You will have done the best part of the refit (and they are never finished), saved some and given the wife time to adjust as well. The caveat to that is if the military offers you an incentive package to go now, take it. Same advice I gave my two sons, one USAF, one US Army. Also, be very careful about relying on the current state of the retirement benefits package as it will change over time. Not a matter of if anymore I'm afraid but when. As a military member I'm sure you're well versed in just how much you can rely on the promises of the government.

[letsgetsailing3]

Originally Posted by Celestialsailor

Ya...and if you read mine, you would see that at anchor, I spend about $700 @ month. If you truly don't think it's worth voyaging because you feel you need $1500 a month, than maybe you shouldn't go.


Well...another "Debbie Downer"...there are people from every walk of life out here cruising with or without personal problems. Somehow they make it work.


Finally...some common sense. I have seen every imaginable floating craft anywhere from 25 ft. to 120 ft. From $2000 to $1.2 million. You rise or lower yourself to the occasion.




Be careful who and what you listen to on these forums. Some if not most do not have boats and some if not most have never taken off. No one says you have to do this lifestyle the rest of your life...most don't. But to get away for awhile and straighten out your priorities is a priceless gift you can give yourself. A few posts ago, on my blog, I outlined a cheap way to go cruising. Based on what I've seen so far in Mexico.
Most boats I see that are really voyaging are well under $100K and 34- 45 ft. in size. There are even a few 32's that costs $10K and are circumnavigating. Don't miss out. Retire when you can and rise or lower yourself to the occasion. Life is whats happening while your busy making plans...especially from a keyboard.

I don't believe the question was about anchoring, it was about cruising.

If you're living on $700 a month, show us the budget. How is the world voyaging is going? How's the wife? Oh, you don't have one? Hmmm, may affect the budget a bit for someone in a different situation. Certain creature comforts may be a part of the bargain for two people cruising together.

If you're cruising, no doubt things occasionally break on the boat. If you're on any kind of schedule, you'll be needing to top up that fuel every once in a while. And there will be the incidentals. You went all the way to that island or country, don't you want dinner out? What about docking fees? Cruising permits? If you're on a limited budget, it will be difficult to visit some places.

No doubt that you can buy a cheap boat and float around on it in Mexico for a while. But you'll be needing either a decent boat or a certain amount of money to keep it floating in the world-traveling direction you want it to go, if exploration is on the agenda. For every person here who says "I can do this forever on fumes from my bank account", there is someone else who says "I spent two years refitting a boat with my girlfriend, only to run out of funds after 6 months partying in Mexico, and now the boat needs fixing."

I believe the OP can cruise for a limited amount of time on the budget mentioned, but that it might be a little tight for open-ended cruising. Your mileage may vary, but I don't think he should ignore budgetary concerns because someone on the internet advised him to "go for it". Sometimes freedom's just another word for nothing left to lose, but it doesn't have to be that way. No need to insult others on the forum because they're on a different program. I think a variety of opinions is useful.

There are some threads that try to capture the cost of cruising. Your input is valuable, and it would be good to capture your experience there, particularly if you have a year or two worth of data.

[The Garbone]

Getting to specifics.

You will be getting out pretty soon on a fixed income.

I would suggest moving your residency to Texas or Florida as they have no State income tax and are both warm.

I do not know Texas so let's talk Florida.

In Florida your 3 affordable choices are Pensacola, Jax and Tampa/St Pete/Clearwater, all have good military bases and you will have access to space A and the PX. To be honest my opinion is Jax is an armpit.

I think in Tampa/ St Pete you run a good chance of finding a private slip you can park your boat at for less than a marina and within a reasonable drive you may still be able to buy a canal front lot.

Both Texas and Florida also have decent economies compared to most other places, helpful when finding work to make ends meet.

I got out after 6 in the mid 90s but work with an bunch of retired vets here. There is life after the service, I found it amazing to get overtime, when a 60+ hour week was par for the course in the service on the outside you can really rake in the cash and 40 hours was like a vacation.

Get out, get your boat together and in a few years go sailing. Some of the best people we have met since getting out are at the marina.

Also, at 42 (my age) you will be the young ones. Lot/ of folks over 50 out there. We have only met 2 other couples younger than ourselves in the past year or so.

Hope to see you round the Kets in a few years.

[Prairie Chicken]

KDH stated more clearly what I touched on earlier. I think there are much better deals for boats in Europe than in N. America. I have no idea about other parts of the world.

On this forum it sure seems to take folks a long time to find the right boat.
I'm sure sometimes that's true but there are other times you find the right boat at the right price. If that were to happen, be prepared to take advantage.

[sailorchic34]

Originally Posted by letsgetsailing3

I don't believe the question was about anchoring, it was about cruising.

.

You do realise that CS cruised down to mexico last year. I would call that cruising and not anchoring. Everybody has their own budget. Some can cruise on less than others. Some can cruise on a lot less than others. Avoid marinas and you can cruise for $700 to a $1000. Many others need $3000 to $5000 to cruise. But there are a lot of people on this board cruising on less than $1000.

[sailorboy1]

doesn't matter what budget one chooses, it will piss off people on either side of the amount!

[letsgetsailing3]

Originally Posted by sailorchic34

You do realise that CS cruised down to mexico last year. I would call that cruising and not anchoring. Everybody has their own budget. Some can cruise on less than others. Some can cruise on a lot less than others. Avoid marinas and you can cruise for $700 to a $1000. Many others need $3000 to $5000 to cruise. But there are a lot of people on this board cruising on less than $1000.

If you read his post, he said that his budget was $700 when he was "at anchor". I didn't read more into it. I also don't doubt that people are cruising on a wide range of budgets. I don't mind that people have varous opinions, but I found his post rather dismissive of other perspectives, so I pointed out some situations I've observed.

The OP is looking at some life decisions. I recommended a conservative financial strategy. It makes sense to me that if someone is going to retire, that they think through their own budget preferences before they pull the trigger, particularly in the situation where they are setting their retirement income for life, and they don't want to return to the work force at a later date.

There are some pretty frugal people out there. It's up to the OP and his wife whether they want to go that route, or build in a little more cushion. It's pretty clear that it's all possible.

Oh, and though it sometimes seems that I'm intent on pissing everyone off, it really wasn't the intent.

[sailorchic34]

Being military the op has been living on a fairly small income for the last 20 years anyway . With va Medical the medical cost will not be that high. So that right there saves a couple about a thousand dollars a month. One thing I would tell the OP is to watch out for inflation over the next 10 to 20 years. As someone else mentioned food is not included in the cost of living. Nor is gasoline so the inflation rate is somewhat underestimated by the government. Over the last 2-3 years food prices have gone up about 40 percent. Mainly caused by the Fed printing money under quantitative easing, which is really just debasing the currency. So in reality you need to see about living on a thousand dollars a month now so that in five to ten years 1300 a month is doable. Of course go to other countries and the cost of living can be lower or higher.