I have been lurking for a while and have finally just registered to say hello and maybe get an early steer!
I'm a 29 year old lawyer working between Ireland
(which is home) and London for the next few months. The rat race
isn't really for me on a long term basis and so I'm mentally working on my exit plan and have come up with a 5 year plan which I would appreciate your opinion on. Obviously at such an early stage the plan is very high level. The general goal is to learn to sail and take as many years out as I can afford to, ideally finding a way to become self sufficient while travelling.
I am in London until December and then return to Ireland
. I am going to volunteer as crew come spring to get my first taste of sailing. I'm a diver so used to the sea but only in a rib! Anyway, here's where I could use some advice. I am in a kind of lucky position where the area of law I work in is very international and allows for opportunities in Cayman/BVI. I've always planned on doing a few years out there anyway for the experience but I think I have developed a bit of a plan.
So maybe in the spring/summer of 2017 I might try grab a job over there but instead of renting
a place over there as usual, I was considering buying
a decent yacht with a bank loan to live on and pay that back over the course of working there rather than throwing money
into some landlords pocket. The way I see it is that I can use the money
I would pay renting
to pay back the loan on the yacht and, as I would be working there for 2/3 years minimum, I could be fitting the yacht out bit by bit and slowly gaining experience by taking her out on weekends etc for a spin! I would like to buy the yacht I will eventually circumnavigate with, which of course involves buying
a fairly decent (circa 50,000 euro) yacht as a novice
. I understand it would be better to buy a smaller boat first and get used to that before upgrading but I think my opportunity could allow me to skip that step. I'd like to get something fairly big, maybe around 40 foot, as I will be living on it for years so might as well make the investment and living on it for a few years and practising locally on it will give me plenty of opportunity to get it ready for long haul.
What do you guys think of that plan? I have lots of time so plenty of time to research
but any pointers from where I'm at now? If you could look back and advise yourself at my stage what would you say?
Sorry for the long winded post (typical lawyer!!)