Budgetting - new polls

[ess105]

I am attempting to set up a poll with multiple questions, each with multiple answers on a single thread so that poll related chatter can be kept together. Having never set up a poll before, I hope I get this right. My intention is to set this up so that you can answer more than once. What I ask is that you select a single answer for each question listed below :

A) What is your boat value as a multiple of annual cruising budget?
B) What is your boat value as a percentage of your net worth
C) What is the cost of annual maintenance as a percentage of current boat value
D) What is the cost of annual maintenance as a percentage of replacement boat value
E) What rate of return are you anticipating on your savings?
F) What will you take from your nest egg?
G) Planned/Actual Duration of Cruise

The questions can be answered by past, current or future cruisers. Hopefully this will build up an interesting picture of various financial ratios being considered by cruisers.

[dana-tenacity]

Can i do this even though we have now moved off the boat?

[ess105]

Yes. Your answers are just as valid as any others - in fact more so as you'll be basing yours on actuals.

[cat man do]

Fed mine in, what is the purpose of the poll?

Probably should have asked first.

Dave

PS OK, iv'e seen the cruisers budget post now and have figured it out.

[ess105]

Reasonable question. The poll came about following a remark containing some assumptions made on another thread: http://www.cruisersforum.com/forums/...dget-4296.html.

It made me think of a number of questions I had when researching cruising budgets. Nothing like measuring actuals ;-) so I put these together.

One thing I learned through my own research is that the answer is ultimately based on a lot of personal choices and preferences. However, if we get enough people answer these questions, I think we should learn something.

Thanks for voting.

[Lynx]

The answers is will be varried with the age of the boat. Mine is new so maintance is less ect...

I see this question a lot. Basicly, you will live on what you enjoy. After all that is what it is about. If you need to spend more, you cruise less time. Pleople who make it a full time Cruise ship vacation will spend a lot more.

It really depends on how you want to live (also how badly you do not want to go back to work).

[Weyalan]

I answered the poll questions based on my projections and estimates, because I am not yet living aboard... probably naughty of me, but hopefully it won't queer the pitch too badly.

[ess105]

Already an interesting picture emerging albeit from probably too small a data set. Cruisers with long term plans tend to allocate 10-20% of their net worth to their boat.

[ssullivan]

I voted, but I feel this poll is poorly set up. It is set up from a very personal perspective that only applies to retired people with "nest eggs", etc...

There were relatively few selections that applied to crusing as a lifestyle rather than cruising as a retirement vacation package.

Where were selections for how much you earn while cruising? What about selections regarding what you are putting into your nest egg? What about how much of the year you work or plan to work while cruising?

Also, what is the different between "current boat value" and "replacement boat value?" If I have a 1987 boat that's worth say... $100K, that is its current value. If I sink it and have to buy another, it's replacement value is $100K. All that's lost is a bit of gear. Could you explain this a little bit?

[ess105]

I agree this poll is biaised and therefore limitted. Not sure I could have put together a really comprehensive survey. I suggest we let this one play out and then decide on a new set of questions covering some of the gaps left out of this one.

On looking back, questions 3) and 4) really weren't set apart properly.
The replacement cost really means cost of a new, equivalent boat. Pretty tricky I know. The idea is to put some sense to the fact that 10% of a boat that has already depreciated on repairs does not imply all boats require 10% annual maintenance. Newer boats need less (percentagewise) simply because of the higher initial cost. I was motivated to do this as I found it very difficult to get decent maintenance estimates for a new boat. Vendors would tell me a number which was usually quite low compared to other published numbers. They have a motifivation to do this of course as they don't want to put you off buying the boat. I hope this makes sense.

[ssullivan]

Gotcha. Thanks for the clarification. I probably shouldn't have voted on this poll, as my info certainly "queered the pitch" (I like that expression, being a Yank)

Based on what I've seen out in the world, I would not put a distinction on the maintenance costs of a new boat vs an old boat, and just enjoy the added bonus of possibly spending less. All boats have problems, despite what dealers say. Often they will cover costs of problems on new boats, but sometimes people get stuck paying for them. All boats need the typical bottom paint, buffing, zincs, lines, anchors, fenders, etc... at the same rate. This is the stuff (aside from sails) that eats up your budget.

I'll keep out of the retired person's poll here and stick around to vote on the more broad poll next time. Good thinking though... being able to combine things into one poll like this. Very creative!

[ess105]

For my own planning, I'm assuming that the absolute cost of maintenance on a boat doesn't change too much over time. As the boat value depreciates, the percentage cost of maintenance goes up in inverse proportion to the price.

My thinking goes along the lines that there is a whole bunch of stuff (like you mention) that you have to do anyway. For the rest, wear and tear may not impact us so frequently, but when it does, we're more likely to replace nearly new with new rather than hunt around for a good second hand replacement. Over time, I imagine frequency of repair may go up and we'll get less fussy about what we use.

[dana-tenacity]

One interesting thing I note is in the duration of cruise category. Once upon a time if you went cruising you sold the house and quit the job, there was no other alternative. 10 years ago we used to laugh at what we would call "day trippers", out for less than a year. Now it seems there are lots of people who can organize threir lives so they spend eg 6 months per year sailing, the rest cruising.
IMHO this has some negative effects, but I'd probably do the same if I could.

[David_Old_Jersey]

Originally Posted by dana-tenacity

One interesting thing I note is in the duration of cruise category. Once upon a time if you went cruising you sold the house and quit the job, there was no other alternative. 10 years ago we used to laugh at what we would call "day trippers", out for less than a year. Now it seems there are lots of people who can organize threir lives so they spend eg 6 months per year sailing, the rest cruising.

IMHO this has some negative effects, but I'd probably do the same if I could.

I have spent probably half the last 10 years on holiday in distant lands (albeit not on a boat) and half working - the Bank Manager tells me that their IS a downside .....and now I have hit 40 I am starting to see his point ........gonna be "Nose to the Grindstone" for a few years.........and then re-assess...........But I reserve the right to sail into the WBY at short notice

[cat man do]

When I did my figures I put in cost's of annual maintenance as cost of actually running the boat, I hope that was right?

I figured this out as Australian $$$ cost's, though in reality, we'll be off to S.E.Asia pretty quick so the cost's will be vastly different. EG: diesel in Aus is $1-50Aud at marina's, in Langkawi it's around .55cAud.

Labour is also more affordable.

Dave