Anybody around in their late 20's, saving hard for their dreams ?

[Andreadsuchyshi]

Hi Bob- I'm new here. But your post caught my attention.

Recently I was asking myself what I'd do differently to get to where I am now- almost ready to go cruising full time and never look back.

Our path was longer than yours. We're now both 50 and ready. And for us if we had the focus, we could have left land life and cruised permanently at 37. He got the bug at age 12 after reading a book. He brought it up to me at age 23 when we became married. But I couldn't figure out how to make it work financially and permanently. (I do the finances.)

Now after putting some thought into it: You stated you're saving a lot of your income. Keep that up. But instead of figuring out how much money can sustain you for a couple years to sail, why not use some of your money and invest it into something that will cash flow?

1. For example we purchase houses, fix them up and rent them. This will provide permanent cash flow for cruising. Do your research before becoming a landlord because there are management fees, capital expenses and maintenance cost when you aren't there to take care of the property.

2. Also you mentioned you're renting and paying low rent. How about purchasing a house now and rent out the other bedrooms? You take the smallest or least desirable space and rent out the nicer rooms. This should provide extra passive income to save. Passive meaning you don't have to lose your time to generate the income.

3. Or start a business that will offer some cash flow. Maybe with a partner you trust that can run the business when you're out cruising. Maybe you could even do this half time. Half time at work the other at sea? Or something seasonal like construction or lawn care?

4. Have you considered investing your money and taking no more than 4% to live off? This won't be a large amount to live off but should sustain your portfolio so it doesn't collapse and you'll still have a nest egg to generate ongoing income or something for when you return to land life.

5. Or a low expense annuity? You can invest your money into an annuity, take a lifetime payout and again, never run out of money. But again- this won't be a large income and I STRESS LOW EXPENSES. Some annuities can be expensive and run around 3% annually in fees. Others much, much less like .50%. Unfortunately I'm restricted from mentioning any companies but google- no commission, low cost annuities and this should help you with your search.

6. Medical is a huge concern for most people. I know you're from Oz. I'm not familiar with your medical programs. We as Americans don't qualify for medicare until age 65. Maybe pick up a position that offers a pension and medical after only 20 years? This will again offer income and most importantly- medical. Yes, 20 years is a long time. But do you want to go out to sea permanently or have to give up the life and come back?

I hope I'm a little helpful.