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Old 19-09-2011, 18:45   #1
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Looking for Advice on a 'Life Decision' . . .

Hey everyone... I'm new here. I was movtivated to join to forum mainly to ask for input on a very simple, but complicated question.

Alright, so here goes. I'm debating whether or not to sell everything and go cruising or continue on my current course. Sailing, traveling and adventureing are my passions in life and pretty much all I want to do. There is really only one thing keeping me from doing it and that is my job. I don't like my current job, but the pay and benefits are good and in 8.5 years I can get a retirement pension. I'm single and have no children so it's only me here no one else to really think about affecting. You only live once right and what if I die tomorrow? How much security(money) do you really need in life? Am I wasting my youth? I guess it all comes down to how will I feel about this decision 10-15 years from now? I know it wouldn't be so appealing if I enjoyed my life a bit more, but my job is pretty consuming and is basically my life for the most part as I see it.

Anybody been in or currently in this situation? Any info, experience or guidance anyone would like to share is welcome and thanks for reading.
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Old 19-09-2011, 18:47   #2
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Re: Looking for advice on a life decision....

Quote:
Originally Posted by waterloiverinsd View Post
Hey everyone... I'm new here. I was movtivated to join to forum mainly to ask for input on a very simple, but complicated question.

Alright, so here goes. I'm debating whether or not to sell everything and go cruising or continue on my current course. Sailing, traveling and adventureing are my passions in life and pretty much all I want to do. There is really only one thing keeping me from doing it and that is my job. I don't like my current job, but the pay and benefits are good and in 8.5 years I can get a retirement pension. I'm single and have no children so it's only me here no one else to really think about affecting. You only live once right and what if I die tomorrow? How much security(money) do you really need in life? Am I wasting my youth? I guess it all comes down to how will I feel about this decision 10-15 years from now? I know it wouldn't be so appealing if I enjoyed my life a bit more, but my job is pretty consuming and is basically my life for the most part as I see it.

Anybody been in or currently in this situation? Any info, experience or guidance anyone would like to share is welcome and thanks for reading.

You don't say how old you are or what the pension would be like. I know someone who quit too soon and had a very hard time financially. It wasn't pretty, and sailing isn't necessarily inexpensive.
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Old 19-09-2011, 19:05   #3
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Re: Looking for advice on a life decision....

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You don't say how old you are or what the pension would be like. I know someone who quit too soon and had a very hard time financially. It wasn't pretty, and sailing isn't necessarily inexpensive.
I'm 29 and would get the pension at 38. The pension would be around 14/1500 a/month.

I would still plan on working where I could while cruising. I also am very handy and fix most everything on my boat.
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Old 19-09-2011, 19:06   #4
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Re: Looking for advice on a life decision....

And you are asking for the opinions of anonymous people on the Internet about what you should do????
I will give you more than a silly opinion - I will give you an estimation - much more durable, harder to overcome - keep on with what you are doing until you really know what else you want to do and how to go about it. It's your life and it's your decision and you get to live with the consequences...
Good luck (and fair winds?)

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Old 19-09-2011, 19:28   #5
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Re: Looking for advice on a life decision....

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And you are asking for the opinions of anonymous people on the Internet about what you should do????
I will give you more than a silly opinion - I will give you an estimation - much more durable, harder to overcome - keep on with what you are doing until you really know what else you want to do and how to go about it. It's your life and it's your decision and you get to live with the consequences...
Good luck (and fair winds?)

Michael
Yep! I'm asking for what another would do in my situation. Thanks for your two cents.
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Old 19-09-2011, 19:31   #6
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Re: Looking for advice on a life decision....

a couple thoughts: I went cruising in my thirties with not a lot of money (some!) then I returned put my nose to the grindstone and did very well. I went cruising again after 25 years of work. I had a great time both times. If you go young, at least you have time to start a new career etc. If you work and acquire some wealth, you have less risk. Personally I think going in mid life is more risky (unless you have acquired all the wealth you will need thru life) restarting a career at 50 years old might be harder. The $1400 a month would be great for cruising and you'll still be in your mid thirties. Tough one, but if you have some money inthe bank, you are unencumbered, dont like your job and can do it without having to have a "yacht". Might be a good time to get er done. PS: I was very lucky to be rehired by my original emplyer... with a promotion if I came back!
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Old 19-09-2011, 19:50   #7
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Re: Looking for advice on a life decision....

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a couple thoughts: I went cruising in my thirties with not a lot of money (some!) then I returned put my nose to the grindstone and did very well. I went cruising again after 25 years of work. I had a great time both times. If you go young, at least you have time to start a new career etc. If you work and acquire some wealth, you have less risk. Personally I think going in mid life is more risky (unless you have acquired all the wealth you will need thru life) restarting a career at 50 years old might be harder. The $1400 a month would be great for cruising and you'll still be in your mid thirties. Tough one, but if you have some money inthe bank, you are unencumbered, dont like your job and can do it without having to have a "yacht". Might be a good time to get er done. PS: I was very lucky to be rehired by my original emplyer... with a promotion if I came back!
Thanks for the reply! I've been saving for a while both in my IRA and checking account. I currently own the boat I would take and she already has alot of the major work doen to her i.e windvane, new engine, solar panels and everything gone through. I think if I were to do this that it would be my lifestyle choice for an extended time and would probably live in another country where is is cheaper. Thanks again
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Old 19-09-2011, 19:52   #8
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Re: Looking for advice on a life decision....

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Originally Posted by waterloiverinsd View Post
I'm 29 and would get the pension at 38. The pension would be around 14/1500 a/month.

I would still plan on working where I could while cruising. I also am very handy and fix most everything on my boat.

So, you won't have social security to help you out ... that's not really much to live on. Will it have a cost-of-iiving index increase?
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Old 19-09-2011, 19:54   #9
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Re: Looking for advice on a life decision....

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Originally Posted by svcambria View Post
And you are asking for the opinions of anonymous people on the Internet about what you should do????
I will give you more than a silly opinion - I will give you an estimation - much more durable, harder to overcome - keep on with what you are doing until you really know what else you want to do and how to go about it. It's your life and it's your decision and you get to live with the consequences...
Good luck (and fair winds?)

Michael
I don't have a problem with asking "strangers on the internet" because there's a special interest here. Hopefully he knows that it's just a stranger's opinion. None of us are emotionally involved and aren't going to turn into his mother and scream "WHATTTT? ARE YOU NUTS?????"
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Old 19-09-2011, 20:01   #10
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Smelling the roses?

Sounds like you'd like to step back and smell the roses, but its hard in your current job. Maybe too old to get reemployed if you leave? Worried that if you wait you could be too old to manage cruising?

For me the main consideration was financial. I needed to have enough money to last me though 20 years with a bit of reserve to cover any medical surprises.

So first, maybe, crunch the numbers. Work out how much you'll need and how much you've got. If you've got more than necessary now then no worries, otherwise you need to calculate how to get the extra.

Then consider the lifestyle. I'm not sure that solo cruising is all that much fun. I've basically waited 5 years o that my SO can be with me, and its still a big unknown. Its not like buying a car or joining a gym where you're pretty well certain what you're going to get. I'm assuming it could all go belly up.

Would your employer consider phasing you out? Sounds like they've got their money's worth over the years, and they may not want to see you suddenly leave, so they could do a deal. Maybe train your replacement over the next few years in return for a pension?

You could have a few holidays owing. Enough to work your boat south, or even to head into the Pacific?
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Old 19-09-2011, 20:06   #11
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Re: Looking for advice on a life decision....

My circumstanses were different but I can tell you that having the pension as a fall back is very comforting. I think that I would have regretted not sticking it out. But I'm certainly not the go small go now type. We're a few years away from being able to sail away and not have to go back to work.
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Old 19-09-2011, 20:09   #12
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Re: Looking for advice on a life decision....

My advice - hang in for the pension. Save as much as you can in the meantime... its only 8 more years. But have some fun too, in the interim.
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Old 19-09-2011, 20:21   #13
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Re: Looking for advice on a life decision....

Take a leave of absence from your job for one year. Explain to the management what you plan to do. Perhaps you can arrive at a gentlemen's agreement that your job will be there when you return.
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Old 19-09-2011, 20:41   #14
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Re: Looking for Advice on a Life Decision . . .

It seems to me that you are asking if you want to be happy or unhappy for the next eight years. Trust yourself.
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Old 19-09-2011, 21:34   #15
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Re: Looking for advice on a life decision....

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So, you won't have social security to help you out ... that's not really much to live on. Will it have a cost-of-iiving index increase?
Yeah, it will be increased/decreased with whatever the inflation number is which sounds pretty good.
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