How do you earn an income cruising full time?

[barnakiel]

I think mobile App market is pretty saturated already. Just look at mobile devices segment - it is pretty stuck. But who has what it takes to build successful mobile Apps, has what it takes to do so many other programing and development jobs that one does not have to worry too much about making some money when need be.

Then again, if 0,00000001 of developers takes 60% of the cake does not imply the remaining 40% is too small to be worth an effort. It is all up to how many billions the remaining 40% is worth. Look at Amanita Design (e.g. their Machinarium) on only one platform they sold +100k of files 4,99 EUR each. This is over 0,5 mio USD in revenue (to Google). I bet one shot like this and you can cruze free for a while.

Any way of making money (except for getting hired by others to do what they want) is all about having that something that others want to pay for. In the earning while cruising context, this simple truth is twice as valid.

b.

[Schooner Chandlery]

Barnakiel, you're hit it right--it's all about having that something that others want to pay for. Sometimes you don't even realize you've got "it" and someone up and offers to pay for it. That happened with us this spring: we were writing a couple custom wordpress plugins to do very specific things with banking interfaces for securely taking credit cards and paying sales taxes on our own new marketplace site (more complicated than a regular e-commece site in terms of the banking interface) and as it so happened, everyone else with a similar marketplace based on wordpress was up against the wall w/o the ability to do some of the same much needed tasks. We were about to give/share the software with people but really didn't want to do the ongoing customer support and upgrades to the software that would be required --and then a company came along and said "we'll support it and split the revenues with you 50:50." As it turns out, for quite some time they'd been beating their heads against the problem we'd solved. So quite by accident, we sold some software. And that's the point--you may find yourself having the opportunity to sell hard goods, services, consulting, various things. Be open to what the world needs of you and be willing to provide it when someone asks for it.

I've done a lot of different things--so has my husband--and we enjoy helping people. We did save quite a bit towards cruising over the years as it had always been a plan to take off mid-life and sail. And so when we sold our house and took to living our wandering life (mid-2006) we had enough money and investments to live indefinitely if we did it frugally; but we went with the attitude that we're too young for our brains to atrophy by not doing some kind of "thinking" work and we'd count on our sailing and boat projects to keep our bodies in shape. So, since 2006, off and on we've consulted, done software, engineering projects (both of us are engineers), technology demonstration projects (that's where you take someone's IP and see if it really is possible to do something with it by building a prototype) and business consulting (I've got an MBA and get opportunities to do brand or strategic consulting from time-to-time as well). All in all, we do what we can, we enjoy what we're doing, and while we don't know where the next bit of money will come from, we're pretty sure there will be some income along the way so we won't be dipping into that retirement savings too deeply. We didn't do anything income-producing for most of 2014 so that was an odd-year out for us. 2015 has been a build-the-business year so spending as much as we're making seems to be the norm for this year's endeavors. Life is good, and enjoyable, and that's what our version of the cruising life is all about: do what we want, when we want, and pretty much where we want.

I do have to say that when we're actually traveling, it's hard to get any work done. Period. That may just be us, but we have to settle into an anchorage, slip, or someplace for at least a week for my brain to settle into the "I can work" mode. High levels of productivity come with staying someplace about a month. Even if at anchor and with sketchy internet I can get alot done if we're settled in a bit. My husband, OTOH, can work anywhere, anytime with chaos all around.

Finally--about making money while cruising? If you're not a software geek, fix-it person, medical professional or business service provider--all of which can do well while cruising-- you may well be someone who makes things and sells things. We have sellers in the SC marketplace who are travelers who take time to make things between trips. Andrew of Wear & Tear Pads is a coastal cruiser. Lars of Freebag spends his summers sailing the fjords of Norway and his winters doing his regular work, and we have several cruisers who are artists who sell jewelry or art via our site. If you have something you make, you can sell it And--if you think you won't be able to do order fulfillment, there are services that can do it for you. We are integrated with Shipwire for warehousing and fulfillment and we also have a guy on the east coast who does order fulfillment for our sellers who are too small for a Shipwire account but traveling too much to do it themselves -- or who aren't in the USA and wish to reach the USA market. We also do imports for a couple of sellers. So, where there's a will to try and provide something that others want to pay for--there's a way to make some money

[zboss]

Originally Posted by Mark424

Sorry to throw water on the plan: Doesn't mean you shouldn't try, someone will win the lotto, just don't count your eggs.

From an O'Reilly news feed:
Mobile App Developers are Suffering — the top 20 app publishers, representing less than 0.005% of all apps, earn 60% of all app store revenue. The article posits causes of the particularly extreme power law.

To the OP:

• Suggest you try before you buy, how do you know you'll be happy as a full time cruiser, the medical profession is perfect for taking a sabbatical, lots of jobs when you get back, try it for 6-12 months.
• There is a burgeoning industry around telemedicine. You would need a good internet connection, whether it's video appointments, answering/filtering for docs emails, coaching chronic patient, filtering requests for prescription refills, etc. May need some training, but if you are in healthcare, you have the basics covered.

We regularly hire guys at $45 to $60 an hour for 3/6/12 month contracts to develop mobile apps but those apps are only 1/2 of the work they do, the other half is the server side. So, looking at business systems where the development ecosystem as a whole must be considered pays a lot more and will be in high demand for a very long time.

[Bertie68]

Funny, it looks like we're a number of computer geeks over here... Anyway, I think the 'passive income' scheme is no more than a myth. I've got yet to meet personally someone who has succeeded at that, even though all over the net there are plenty of such stories (usually as a lure to make you buy an online marketing course or whatever).
As for me, I'd be glad with a small day cruiser for weekends and eventually some longer holidays. The greatest difficulty lies in lobbying my wife and children into it as they are not so inclined and think that money could be better put to another use. And let's face it, it's very difficult to make the business case for owning a boat; unless you are a professional fisherman, it's a net expense and there is no way to make a profit from it.

[Lake-Effect]

In my corner of the world, there's a strong demand for software developers, but it's mainly for mid- and large-scale web and mobile apps which usually entails complexity and a significant back-end component.

But you wouldn't want to cruise here and liveaboard, unless you like bubblers and circulators for 4 months of the year

Originally Posted by Bertie68

As for me, I'd be glad with a small day cruiser for weekends and eventually some longer holidays.

We currently keep an inexpensive microcruiser in the water at a yacht club that's a 10-minute walk from the house. We'd like a larger boat and some cruising is in the plans, but for now we're very happy with a cottage-type lifestyle within a big city. The boat's easy and fun, I can singlehand with 10 min notice, or we can do weekends away.

[denverd0n]

Originally Posted by Bertie68

I think the 'passive income' scheme is no more than a myth.

Well, I would say that the "passive" part is pretty much a myth.

I have a friend who makes a fair income from rental properties that he has built up over the years. It may be "passive" according to the rules of the IRS, but it's not like he just sits back and watches the checks roll in. He works at it every day. Perhaps not quite as much as someone with an ordinary, full-time job, but every day nonetheless.

Of course, if he had fewer properties then he would work less. But then he would also have less income. So it certainly is possible, but it's not nearly as passive as many would like you to believe.

[hamburking]

Originally Posted by Bertie68

Funny, it looks like we're a number of computer geeks over here...

Its only us geeks who are online all the time, reading forums like this one.
The cool kids all have girlfriends, and are outside enjoying the world. We read their blogs.

[hamburking]

Originally Posted by Bertie68

The greatest difficulty lies in lobbying my wife and children into it as they are not so inclined and think that money could be better put to another use. And let's face it, it's very difficult to make the business case for owning a boat; unless you are a professional fisherman, it's a net expense and there is no way to make a profit from it.

Yes, boats cost money.

But if you are making a business case, try comparing boat ownership to a vacation property or "cottage". Around here, cottages are pretty popular. They have property taxes, maintenance, and often a long drive (2-6 hours) to get there each and every time, so don't forget the vehicle and fuel costs. In comparison, my boat is usually just 2km from my house, a short commute by any standards. I usually take my bike and lock it on the dock when I go sailing. My "commute" is sailing to an island. Boat ownership is much cheaper than cottage ownership, and I spend my time sailing, not driving on the highway.

You could also compare the cost of boat ownership to the cost of conventional vacations...the kind where the whole family gets on a plane and goes to a hotel for a week. On the boat, we cook our own meals, make our own beds, and generally don't spend any money most days on board. A one week conventional vacation would easily cover my boat costs for several years. And we sail all summer long.

[zboss]

Originally Posted by Lake-Effect

In my corner of the world, there's a strong demand for software developers, but it's mainly for mid- and large-scale web and mobile apps which usually entails complexity and a significant back-end component.

Thats exactly the problem... there is no money in just the mobile side.

[PortClydeMe]

Education + skill set + experience + large international client base + constant demand + no lack of funding + computer + Internet connection = money.

I never meet my clients, and never communicate by telephone. Pretty cool, huh?

Will I show you my client list? Nope.

[Bertie68]

Originally Posted by zboss

Thats exactly the problem... there is no money in just the mobile side.

Well, not always... Right now I'm working on a standalone app - but it's a game that needs no connectivity. Not sure about whether it will become a blockbuster, though. However, in the internet era world it seems to be all or nothing. If you hit the jackpot and create the next Angry Birds, you'll become an instant millionare. But otherwise you risk spending hours and hours for nothing. IMO, the safest bet, though not as glamourous, is on IT services for small/medium businesses.

Originally Posted by hamburking

You could also compare the cost of boat ownership to the cost of conventional vacations...the kind where the whole family gets on a plane and goes to a hotel for a week. On the boat, we cook our own meals, make our own beds, and generally don't spend any money most days on board. A one week conventional vacation would easily cover my boat costs for several years. And we sail all summer long.

Good point, I had not seen it this way! Even a per-day mooring is way cheaper than a decent hotel. Now, the problem is that where I live, a 10m (33') mooring is about 2.600€/yr, almost double than most marinas in France. And I remember someone wrote he was paying $1.500 in the Netherlands... I simply cannot find any explanation for that, as Spain's per capita GDP is way lower.

[barnakiel]

I am not sure what one poster up this thread says about passive income. Like it does not work. Why.

Buy property, rent it out, get passive income.

Make a long term deposit, draw interest, get passive income.

Buy bonds (OK this one is portfolio income in the US, but it is just a legit name for this form of PASSIVE INCOME)

So like why does it NOT work?

b.

[Lake-Effect]

Originally Posted by zboss

Thats exactly the problem... there is no money in just the mobile side.

There's little money in small, amateurish, 'toy' mobile apps, yes. They're a dime a dozen (or free if you put up with the ads )

But again, in my market at least, there's strong demand for people to work on the front-end of commercial mobile apps. It's kind of crazy, like pre 2000 again. There's proportionately more of those positions open than for back-end. Where I'm currently contracting, I may start doing some of that (it's fun, actually) at the same hourly.

Like any career, once you get some experience and build a short list of people who'd hire you again... you can work as much or as little as you want. Most of my gigs come from just staying in touch with people you've worked with.

Programming/developing is definitely something that could be done from anywhere as long as there's power, coffee and internet.

[Bertie68]

Originally Posted by barnakiel

I am not sure what one poster up this thread says about passive income. Like it does not work. Why.

Buy property, rent it out, get passive income.

Make a long term deposit, draw interest, get passive income.

Buy bonds (OK this one is portfolio income in the US, but it is just a legit name for this form of PASSIVE INCOME)

So like why does it NOT work?

b.

Maybe in the US it works, but here in Euroland...
1) A fixed term deposit will not give you more than 0,5% in a reputable bank. We're in the zero interest rate age. That means you'd get 5.000€/yr for a 1.000.000€ deposit.
2) Bonds are even worse: german bonds have *negative* yields, actually. Well, you can always buy greek debt at 9%, but...
3) Buy-to-rent: At least here in Spain, you could buy a 200.000€ flat and rent it for no more than 500€/mo. But the mortgage payment would be about 700€ for a 30-yr home credit (no down payment).
4) Investment funds: that's a lottery. If you're lucky you can earn a 10% return, but many of them are on the red.

If it were so easy, everybody would be doing it.

Originally Posted by Lake-Effect

Like any career, once you get some experience and build a short list of people who'd hire you again... you can work as much or as little as you want. Most of my gigs come from just staying in touch with people you've worked with.

Programming/developing is definitely something that could be done from anywhere as long as there's power, coffee and internet.

Yes, it works like that. However, for some jobs you need a good, reliable, wired connection and a rather powerful desktop comp.

[stefano_ita]

100% Quote Bertie86...

P.s. Are you the owner of Santander bank or just the city?