How Much is a Month Worth

[tomfl]

Originally Posted by sailorboy1

Well this is kind of thread drift, but:

Imagine you get diagnosed with cancer in 2 years and die and leave your wife behind. You would regret that you traded a couple months of personal cruising for her added financial security.

There's no winning answer when playing the death game unless you have a known checkout date way in advance.

As I posted earlier it is pointless to speculate on a speculation.

You have no idea if you will get cancer or live for thirty years and run out of money cruising. You have no idea if working a couple of extra months will provide your wife added financial security.

My account is with Edward Jones, not saying they are the best, just where my Dad had his account before he died. I talked to them on a regular basis and they freely admit they have no idea what the stock market will be like tomorrow, less yet in several months or years.

Bottom line is you pay your money and take your chances.

[grantmc]

This has been a really interesting topic and I'm sure many people identify with their own version of your question Sailor Boy. Thanks for posting.

[Cadence]

Originally Posted by nic26

Sorry, if I am being too direct, dear.

After reading this "This is a consideration as my Mom died of cancer at 65, one of my brothers just died of cancer at 48, and I had a heart attack 2 years ago."

I would be afraid you never make it to the sea (nope I am no doctor, but had a heart attack too). Even IF you get the 10k or whatever it is then there is no guaranty that the dollar still has a good value then....

The only real value left to us oldies (63 here) is TIME so use it to YOUR advantage.

Amen!

[hamburking]

Originally Posted by FollowingCs

My uncle was a corporate executive. Got MS at 57, couldn't walk by 60, died at 64. His kids are going on GREAT vacations now. He is not.

He is the main reason I am going to be giving up my prime earning years as an IT executive, and trading them for living years. Last kid heading to college next year.

~ Following Cs ~

I did the same thing, so that I could spend time with my kids while they were young. I sold my big hunter and bought a tiny C&C. We sailed alot. I may be broke now, but no one can take away that time we had together. Best decision I ever made. Probobly cost me $2million, all told.

On your gravestone there is no mention of how much money you had.

[Rough Magic]

Let's see: 1) the older we get, the less we want to travel. 2) Who knows what tomorrow will bring? 3) These are the golden years, not after the hip replacemnt. 4) Less is more.

I retired from a lucrative career at 62 because the pressure was killing the guys around me.

Go now.

My two cents

[Cheechako]

wait that month. Once you're cruising... you're cruising.... regardless if it's august or September....

[Looking4Neptune]

How much will the $10K affect your life style?
Case1: You spend 10 years on the boat and live another 30 years past that. $10K over 40 years, $250/year....
Case2: After 3 years on the boat, you die suddenly. You probably did not spend the extra $10K, so it had little affect on your life style (but could still be good for your wife)

Those are at the extremes, but the point is that, either way, the $10K won't have much effect on your life style. You will plan your finances with the assumption that you will live for another 30 to 40+ years and over that time, $10K is not going to have a significant change over your life style.

The psychology/emotional side is another story. You might REALLY enjoy spending that $10K on something you would not have done otherwise. If you do stay, find something really fun, that you would not have done without a "free" $10k and have a great time.

Me - I just resigned my job last week and will be starting my "next chapter" ASAP - but, living in Germany, I have a 3 month notice period so looking like July to start.

[Time2Go]

I would go now
Life is short and you can't take money with you
but expeirences are with you for ever even after you leave this earth.
I myself, because of the Admirals Career have to wait a few more years
I'll be almost 65 but still plan on going
Just daysailing and crewing now but I'm gone soon
Can't wait to ditch all the junk i have accumulated over a lifetime.
Gonna be one heck of a tag sale.

[TheThunderbird]

Originally Posted by kbudd

Do it now. My wife and I are in our late 50s and planning on working for a few more years before heading south from the great lakes. Then a few months ago I went to the doctor about a nagging cough. I got a diagnosis of stage 4 lung cancer. You never know.

HUGS, my human friend :-)

[barnakiel]

I would not seriously discredit the finance side of our musings. True, not all of us are stock brokers, investment advisers or CFAs. BUT, some are.

And I am yet to see any proof that s.c. 'specialists' make investment judgements any better than a cruising monkey. (Yes, you can find proof of that too on the Internet).

Now with the shares: 10k of whatever value now or then is not how we value shares. I think we mostly see the flow(s) of dividends adjusted for present value. Market value of the shares may follow this valuation, if the shares are trade'able on any market. But otherwise, see your shares as something that may generate periodic payments rather than something than you will sell and cash in on market price differences.

Unless you are a trained and keen stock market speculator. ;-)

b.

[TheThunderbird]

I consider boat as PART of my retirement plan
An easy way of thinking? A fruitful one, too.

[sailorboy1]

Originally Posted by Rough Magic

I retired from a lucrative career at 62 because the pressure was killing the guys around me.

Go now.

My two cents

For the people "worried" about my stress, I'm going to be 56 next year when I start cruising. Not exactly working away my years to old age. I would kind of think my plan to sell everything and go cruising at 56 kind of put me more in the "go now" crowd than the "wait till you have more money" crowd.

[boatman61]

Shoot... your just outa nappies ya sprog..
In that case stay the month and use it as a wind down period..

[oldragbaggers]

Originally Posted by sailorboy1

Of course that's as much a crystal ball thing as counting on your future health.

I'm sure I made this question too specific to me so lets try something else:

You're in you mid-50s and decided to wait and feed the cruising kitty an extra year. You don't plan to have to go back to work after starting to cruise (unless you get bored). The time window for leaving next year is 4 months and in those 4 months you could cruise and take money out of the cruising kitty, or you could continue to grow the kitty.

How much do you feel each month is worth in order for it to be worth it to delay leaving?

Originally Posted by sailorboy1

Well this is kind of thread drift, but:

Imagine you get diagnosed with cancer in 2 years and die and leave your wife behind. You would regret that you traded a couple months of personal cruising for her added financial security.

There's no winning answer when playing the death game unless you have a known checkout date way in advance.

Originally Posted by sailorboy1

Keep in mind that this ESOP money is an asset and gets passed to my wife/estate even if I kick the bucket and I believe this should be considered.

Btw - I would never consider $10k chump change.

Originally Posted by sailorboy1

For the people "worried" about my stress, I'm going to be 56 next year when I start cruising. Not exactly working away my years to old age. I would kind of think my plan to sell everything and go cruising at 56 kind of put me more in the "go now" crowd than the "wait till you have more money" crowd.

Judging from the tone of all of the posts above you really already know what you want to do.

[sailorboy1]

Originally Posted by oldragbaggers

Judging from the tone of all of the posts above you really already know what you want to do.

I WANT to stop working this year at 55 and go cruising. So I haven't even been talking about what I want to do and am focusing on what I should do.

See what self control I have