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Old 20-07-2010, 13:41   #31
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Addendum: Of the few dozen cruisers I've gotten to know here in SE Asia in the past 6 months. I can think of 3 that were detectably rich. The rest sure seemed to be 'median or less wealth' people.
Oh I'd be careful with "detectably" and "seemed." The "detectably" rich are all too often living way beyond their means and mired in debt. On the other hand, I've come across more than a few scions of 19th century industrial wealth, living like Thoreau out in the woods....
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Old 20-07-2010, 13:44   #32
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S+S hit on something important. From experience seems most of the cruisers out there who are successful (meaning accomplish their goals) - ones that don't have a steady income from other sources but who have saved for their sabbaticals - generally leave debt free and with no real pressures of timeline. The pressures of having to be at a certain place or be back at a certain time or to pay off debt or have kids or whatever get's on them to the point they either give up, or split apart, or are always not having a good time. Whereas, the ones who are flexible tend to say:

"Say, that deepening low off the coast might be a bit of a trick to watch. Why don't we just stay around for another week? Wadday say? Wanna head over to debtfree cay and check it out?"
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Old 20-07-2010, 13:44   #33
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.... all too often living way beyond their means and mired in debt....
Nuf said.
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Old 20-07-2010, 13:52   #34
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you bought a capable boat for a total investment of $4K?
Remember, somebody gave "Spray" to Joshua Slocum as an abandoned hulk. After this experience, I think that's still not out of the realm of possibility today. The main hurdles seem to be in our minds.

My wife now admits she only let me offer the $2K for our boat because she KNEW nobody would accept that :-)

Basically, to go sailing you've got to believe you can, and that's really at heart what this thread is all about.

On my recent trip, I spent a lot of time worrying about things not being seaworthy because I hadn't spent much money. But over time, I found that spending money does not necessarily correlate with seaworthiness. Some things were free and worked well. Some things were expensive and new and didn't work. And vice versa. Prudence, perseverance, and watchfulness seemed to be very useful, but money can't buy those, I guess.
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Old 20-07-2010, 14:06   #35
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I know an older fellow who is an accomplished sailor. He's also got more than a modest amount of family money. He is incredibly frugal in all he does and even taught me the art of "dumpster diving" at marinas. You will not believe the stuff people throw away.

He told me that decades ago, he came across another guy in a dumpster outside a Newport, RI, yacht club. They decided they could have a fist fight over the goodies or just say to hell with it and go get a beer. Chose the latter and have been friends ever since. Go figure.
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Old 20-07-2010, 14:13   #36
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You are not rich. You have a high income with assets minus loans of roughly zero. You are surprised you could save in two years what really you could do in one.
You don't have to be rich to sail. I had more fun in a 12 foot sailing dinghy than in any bigger boat I have had. The costs become disproportionate to the pleasure.
$1000 mth after finance cost is unlikely to cover boat maintenance and repair and living.
Yes at some point with the biological clock ticking having children will become an issue with reduced fertility. At that point with probably one income try saving for a home and paying a mortgage, though I guess selling the boat would pay a deposit.
Enjoying sailing and childless life does not necessarily call for the grand two year cruise. Despite the fantasy most give it away within 6 months. By the way how much sailing have the two of you done offshore under your own command?
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Old 20-07-2010, 14:13   #37
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Remember, somebody gave "Spray" to Joshua Slocum as an abandoned hulk. After this experience, I think that's still not out of the realm of possibility today. The main hurdles seem to be in our minds.

My wife now admits she only let me offer the $2K for our boat because she KNEW nobody would accept that :-)

Basically, to go sailing you've got to believe you can, and that's really at heart what this thread is all about.

On my recent trip, I spent a lot of time worrying about things not being seaworthy because I hadn't spent much money. But over time, I found that spending money does not necessarily correlate with seaworthiness. Some things were free and worked well. Some things were expensive and new and didn't work. And vice versa. Prudence, perseverance, and watchfulness seemed to be very useful, but money can't buy those, I guess.

Sometimes time and place help. We got our boat for 1/4 or the asking price and market price. Only paid $2500 We bought it 2 days before the previous owner left for Panama, he had no where to store it, and the yard wanted an arm and a leg because he had no anticipated return dates. I overheard the conversation at the local pub, drove out there the next morning, had a look, she was in great shape, original owners, lots of sails, he raced her for a few years, had just bought a new headsail and new Genoa, and something he calls a monkey sail still no idea what it is, just seems like a light weight jib to me. Because of the price we bought the boat without a survey. Haven't had a single problems other then putting up a 150 Genoa that was in the 100 Genoa bag.

I have already been offered 3 times what I paid for the boat,

The deals are out there as you said if you have the patience to look for them. Or they fall in your lap
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Old 20-07-2010, 14:33   #38
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If you move aboard and work for one year, you should be able to clear all your debts and have some cash.- unless you have hundreds of thousands in student loans. One year shouldn't put off your kid plans too much.
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Old 20-07-2010, 14:38   #39
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I am fabulously wealthy.

My job is rewarding, close to home, pays well, and I'm home by 2:30 pm almost every day. I never sit in traffic. I sail on any day that the weather supports it.

I have a tidy, modest home in a very quiet neighborhood. My boat is a 3 minute walk from my front door, down at the neighborhood dock. I pay a pittance to park it there. Water and 30 amp juice is included.

I have a slew of great friends who sail with me and whom I sail with, we work on each other's boats, we drink, we race and we hang out.

I'm in pretty good health and I'm overall very happy. So I'm wealthy by my standards
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Old 20-07-2010, 14:44   #40
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When I purchased my first cruising boat in my mid 30s, I had an income of under 1/3 what you and your wife make. Even today it's still less than half. Of course, I'm still driving the same economy car I bought 10 years ago used for 10K.

If you can't be rich, you need to be frugal and make cruising a priority.
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Old 20-07-2010, 15:11   #41
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interesting responses so far...

i'm still a little skeptical when people start talking about their sub $10k cruising boats, but enough people do so that i've gotta accept that it's possible - good to know if it's true. i still believe that the fully loaded cost of our boat is modest. when i look around the marina, we're absolutely on the low end of capable boats. maybe that'll be different in the anchorages we'll ultimately cruise to? dunno... anyhow, what we bought felt appropriate for us, and i don't regret it. she's well built, well equipped and fairly well maintained. if i'd bought a boat for $10G's, i think my wife would be far less enthusiastic and it's pretty tough to put a price on that.

as far as the debt advice goes, i appreciate the concern (truly), but this is what's right for us and we're leaving now.

period.

i've got no interest in sticking around for another year or two or five (if we really left after the youngest of the hoped for two kids is 3 years old). i'm WAAAAAAY more afraid of the person i'm turning into sitting at this desk than i am of being in debt. i'd prefer to be completely in the black, but i'm not, and that's how it goes. if that makes me one of those cruisers who's living way beyond my means... well, whatever - i'm out there and you're not (no disrespect to salty or any of the others who actually HAVE been out there. it's those that condescend while never actually making anything happen for themselves that rub me the wrong way)

should i have saved more? hell yes - i'll totally admit to being pretty free with cash prior to deciding we were going to leave to go sailing. keep in mind though that just because i'm making money now doesn't mean i was before. i'm good at what i do and have made about 20% more per year since i started my career 8 years ago. so, understand that my savings record isn't quite as poor as it sounds. i also drive an economy car that's 10 years old and has 150k miles. just sayin'...

i'm a little surprised that more people haven't been willing to just say "yup, i can sail because i make (have made, have saved, whatever) a **** load of cash". two things have been pointed out that seem relevant here - making the median US income puts you in the top two percent world wide and people for whatever reason just can't bring themselves to admit that they're well off. it's a weird phenomenon - what's the point of being rich if you think you're not?

anyhow, it's cool though to hear these stories of people finding ways to cruise for less, so keep 'em coming
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Old 20-07-2010, 15:21   #42
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interesting responses so far...

as far as the debt advice goes, i appreciate the concern (truly), but this is what's right for us and we're leaving now.

period.
That's 99% of the battle won right there!

Have fun and be safe!
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Old 20-07-2010, 15:33   #43
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My wife and I started living aboard and seasonal cruising in 1971 with a combined income of 12K/year. When we retired in 2002 and began fulltime cruising we had a combined income of about 110K/year. We've been retired and cruising for ten years and living on far less than our retirement income. We were both public school teachers for 32 years. Nobody enters the field of teaching with goals of being rich! We are simply well adapted to living beneath or means. 'take care and joy, Aythya crew
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Old 20-07-2010, 15:42   #44
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Wow, so "entitled", aren't you in your escapist midlife fantasy? You're afraid of "the person you will become", but its all in your attitude and POV. Instead of looking at it as a challenge to your character and perhaps realizing the gains you will get from that extended year - monetary, education, and personal endurance - you look for the escapist answer and whine "period" or say "whatever". Wow, that's realllly reallly admirable. I'm trying to imagine how you will react if you are in more of a survivalist situation where you can't run away from the hard realities of what you've been given. Just don't come by my boat when you are out there, that's all I will say. I ain't giving you leftovers or a dime, and I certainly don't ever want to be in a muster-to-all situation with you on board.

20% gain is typical first few years to market. Then you level and are like everyone else, and no one is gonna want to hire you if you've been out of the workforce. Of course you can put a giant PayPal donation logo on your web site. You may have to.
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Old 20-07-2010, 15:55   #45
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this is what's right for us and we're leaving now.

period.
Well, you've been living the "now now now" dream onshore, so why not try and transfer that concept to life afloat

Be interesting how you cope with the transition from a large endless supply of money to working to a small & limited budget.

FWIW I think you are a class A idiot for not waiting another year - on your figures would make your life away from home a million percent more pleasant. and your return much less uncertain.

But I'm not yer Mum so wish you (and yours) all the best - and in any event, with yer Missus onboard with ya (ashore & afloat) you're already well ahead of the game, no matter what figure is in the bank account (or on the credit card ).
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