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Old 15-03-2014, 19:08   #31
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Re: Should I buy another Boat or save for Cruising?

Ann makes a good point about retiring early.

I thought I would be working till the normal retirement age. But thats the age my dad died of a heart attack.

One day a stupid dumbo mate of mine gave me a CD of a stupid dumb video and I only watched it for fun.

It changed my life.

From that moment till I was retired and on my boat was 12 months.

All I did was rearrange my goal setting and reworked how much money I needed to retire.

Retiring at 48 beat the hell out of another 15 years of work.

So maybe look at the bigger picture and see what you can see.

The video, you don't need to see it, but its called "The Secret". A lot of it is hogwash but the central premis is right: set a goal and you can achieve it. But no goal you cant achieve nothing.



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Old 15-03-2014, 23:47   #32
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Re: Should I buy another boat or save for cruising???

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Originally Posted by Cheechako View Post
Here's a fast 35 footer, (seattle) 1/6 ownership. $150 a month! Are they dog friendly?
http://seattle.craigslist.org/see/boa/4373793538.html

Here's a nice little Bayfield 25 in board diesel cruisier with trailer:
http://seattle.craigslist.org/see/boa/4372187687.html
That second boat was my late father's. It's a real POS.

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Old 16-03-2014, 02:20   #33
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Re: Should I buy another Boat or save for Cruising?

A few years ago I helped a couple sail their yacht to Tonga with the Island Cruising Assoiation,I was 42 and almost the youngest person in the fleet,95 percent of the cruisers were over 65 they had done everything right bought the house saved up bought a flash yacht had some sort of income.And every single one I spoke to regretted not doing it years sooner,most had to take on a crew to sail their boats,and a lot of them were flying back to new zealand for hospital appointments.So if you really want to cruise maybe go a bit smaller and a bit sooner.Im working on cruising full time by the time I am 50 I have just purchased a steel cruising yacht and as soon as the kids are gone im off.I dont want to have any regrets.
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Old 16-03-2014, 03:56   #34
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Re: Should I buy another Boat or save for Cruising?

Here is an excerpt from an article talking about data from the U.S. Census Bureau regarding disability stratified by age:

"They have a table that breaks it down by category. For example if you have difficulty getting out of bed without help then that's a disability whereas if you are unable to get out of bed without help that's a severe disability. Full explanation is in the document.

I think the key point of the above data is that disability rates increase with age. Most people live most of their lives without a disability but as we age disabilities become more and more common. 51.8% of people over 65 years old have a disability and 37% of them have a severe disability."

The rate of disability for people in the next lower ten year age bracket is about 30%.
My observation is that around the mid fifties a person has climbed to the top of the hill, and it is a greasy downhill slide from there.

Half of the people retiring at 65 with a fat 401K will be spending their time going back and forth to the doctor (many with assistance) instead of cruising. Being out on the ocean beats the hell out of a person with great regularity, something to be considered when making long range plans. It doesn't require a disability as defined above to change cruising plans from a health standpoint, just a slightly bad knee or a bad back which is only a partial disability.

Disability Rates by Age | Free By 50
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Old 16-03-2014, 05:51   #35
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Re: Should I buy another Boat or save for Cruising?

I agree with the idea of going sooner rather than later, if that suites you as a person/couple. But you don't want to be out there struggling and wishing you'd waited a bit longer until you had more money either.

So, why not flip the whole question around and start with how much you want to have per month to live on once you start cruising. Add some for boat maintenance and contingencies.

Next work out how far you are from that position. The answer may tell you could go sailing in a year or two, or now. It may also tell you how much you have available for a boat, especially if you want to get it now and have it paid for before you go.

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Old 16-03-2014, 06:14   #36
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Re: Should I buy another Boat or save for Cruising?

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Originally Posted by VirtualVagabond View Post
But you don't want to be out there struggling and wishing you'd waited a bit longer until you had more money either.

So, why not flip the whole question around and start with how much you want to have per month to live on once you start cruising.
Well that's the question isn't it. Yet the answer is full of rhetoric where people who haven't done it cloud the answers of those that have.
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Old 16-03-2014, 06:40   #37
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Re: Should I buy another Boat or save for Cruising?

Go small, and get a boat you can use now.

You'll be able to figure out tomorrow well enough. I'm not sure "long range planning" makes a lot of sense with boats, unless it's in terms of saving more money.
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Old 16-03-2014, 06:40   #38
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I must have missed the part that said only those who have done it need reply.
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Old 16-03-2014, 07:43   #39
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Re: Should I buy another Boat or save for Cruising?

Quote:
Originally Posted by VirtualVagabond View Post

So, why not flip the whole question around and start with how much you want to have per month to live on once you start cruising. Add some for boat maintenance and contingencies.

Next work out how far you are from that position. The answer may tell you could go sailing in a year or two, or now. It may also tell you how much you have available for a boat, especially if you want to get it now and have it paid for before you go.

Vic
This is why DOJ's thread of cruising on $500 a month was so helpful. It gave the serious people an idea of what could be or not be done and what sacrifices had to be made. Many people have an odd or distorted idea of what the cruising life style is. Yes it does cost money but depending on what you want to do, it doesn't take a Kings ransom to do it.

I had some dental work done here and to play it safe, took a slip for awhile. If I didn't have to do that, My monthly would have been $700 a month and that was without tightening the belt at all.

There are anchor urchins out here that live on much less than $500 a month but sadly their boats don't go anywhere and haven't for years.

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Well that's the question isn't it. Yet the answer is full of rhetoric where people who haven't done it cloud the answers of those that have.
...ain't that the truth! I hope the OP can successfully sift through all the input and formulate a realistic understanding.
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Old 16-03-2014, 09:47   #40
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Re: Should I buy another Boat or save for Cruising?

Now let the Yachtworld and Craigslist obsession begin!!!!!!
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Old 16-03-2014, 09:59   #41
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Re: Should I buy another Boat or save for Cruising?

...ain't that the truth! I hope the OP can successfully sift through all the input and formulate a realistic understanding.[/QUOTE]

I have sifted through and so appreciate everyone's input. I raised myself with nothing, trying to figure out where my next meal would come from, and where I would sleep. Joined the Marine Corps and it changed my life and put me on a successful path. Now I have security and that is a very hard thing to walk away from. Not to mention 3-4 more years of significant child support payments that would make cruising impossible at this point anyway. When child support is gone, I will be a few years away from early retirement which will guarantee me income for the rest of my life. I think it is a happy medium to retire at 53 and get the income and not try and work a few more years to just try and add a couple more hundred dollars a month to the retirement.
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Old 16-03-2014, 10:05   #42
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Re: Should I buy another Boat or save for Cruising?

I enjoyed reading the OP. I am 63 and have done the same financial analysis many times.

Lots to consider and although I appreciate the 10 year plan, why not use the club for a year and then decide?

I'm a club sailor and can cruise and race 50-100 times a year for about $5000, but I'm sans wife and dog so I don't have to factor that into the equation.
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Old 16-03-2014, 10:10   #43
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Re: Should I buy another Boat or save for Cruising?

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I enjoyed reading the OP. I am 63 and have done the same financial analysis many times.

Lots to consider and although I appreciate the 10 year plan, why not use the club for a year and then decide?

I'm a club sailor and can cruise and race 50-100 times a year for about $5000, but I'm sans wife and dog so I don't have to factor that into the equation.
I have really considered the club and would because they have lots of functions and sailing partners. For me, it just feels really hard from going from my own boat, my schedule, sleeping on the boat as many days as I want, my gear, my toilet, my dog, etc etc etc to someone else's boat. They do require that ASA classes to take out their boats which are a good idea, but another cost added. It is also a one year commitment.
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Old 16-03-2014, 10:40   #44
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Re: Should I buy another Boat or save for Cruising?

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I have really considered the club and would because they have lots of functions and sailing partners. For me, it just feels really hard from going from my own boat, my schedule, sleeping on the boat as many days as I want, my gear, my toilet, my dog, etc etc etc to someone else's boat. They do require that ASA classes to take out their boats which are a good idea, but another cost added. It is also a one year commitment.
So a year of that could convince you one way or the other. Either you hate it and become more convinced than ever owning your own boat is the only way to go or you find it's not so bad and bank some scratch for the future. Just my 2 cents.
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Old 16-03-2014, 10:51   #45
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Re: Should I buy another Boat or save for Cruising?

Note the people that went and it didn't work out don't post on sailing forums (anymore)

For many people age 40-60 this is the prime earnings period of their life.
It is hard to give that up, since if or when you come back to land, that is gone, 5-10 years out of the workforce and find another job at 50+ for the big paychecks is unlikely.

I humbly suggest have a job you enjoy, then it isn't 'work'.
The French with their month-long vacations know how to live.
You don't need to be on a boat to leave the 'rat race' behind,
or to enjoy wonderful sunsets.

I think many have an idea that getting the boat and disappearing into the sunset will solve their problems.
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