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Old 20-03-2019, 20:40   #16
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Re: What would you do? Go or No-Go?

1) If you buy a 200k boak and have 20k left over it's ALL going to the boat. (I've never met a boat that didn't need something the pre-purchase survey missed. Even new boats need add-on accessories and equipment/upgrades/repairs not covered by warranty.)
2) Get a cheaper/smaller boat 30-something feet. As a single hander you'd be better off in the 30-35' range. Easier to handle and cheaper to maintain.
3) The no healthcare insurance part is worrisome. You could lose it all if anything happens. You may want to rethink that.
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Old 20-03-2019, 20:43   #17
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Re: What would you do? Go or No-Go?

Go! We weren't in as financially good a position as that, and we went.
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Old 20-03-2019, 22:10   #18
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Re: What would you do? Go or No-Go?

As always on this forum, much of the advice you’re getting is worth about what you paid for it. IMHO

You’re actually cutting things much too close especially without any health insurance or a backup health fund. Stuff happens.

Look for a less costly boat in good condition that doesn’t need much, maybe in the $150k range or place $50k down and finance the rest at 4.5%, then go have fun using the bank’s cash.

Retain your rental properties but assume one or more will be vacant at any given time. If a vacancy will severely impact your $3,200 monthly income... you’re not nearly ready to go cruising.

I also think we’re heading towards a global financial downturn, but not so much here in the USA where the economy is quite healthy at the present time.
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Old 20-03-2019, 22:29   #19
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Re: What would you do? Go or No-Go?

1) Cut the boat price in half and go a bit smaller. As a single guy you don't need a huge boat. This will free up your oops fund.
2) Health insurance is a big deal. As much as I don't like it, the game we have (assuming you are a US citizen) is obamacare, depending on how the money shows up in your account, good chance you can get subsidized insurance that will make it far more reasonable.
3) $3,200/month is plenty to live a nice comfortable lifestyle..."rockstar" concerns me as that suggests to me, you are used to spending and once on a fixed budget, you really need to control spending.

We had a somewhat different starting point but we essentially made the same choice and decided to go.
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Old 21-03-2019, 00:08   #20
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Re: What would you do? Go or No-Go?

Instead of asking a bunch of strangers how about asking your kid or kids what they think about dad leaving them to go sailing?
It could be an adventure if you fly them out to you.
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Old 21-03-2019, 00:28   #21
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Re: What would you do? Go or No-Go?

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Instead of asking a bunch of strangers how about asking your kid or kids what they think about dad leaving them to go sailing?

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Good point.

Our kids were out of college before we set off.
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Old 21-03-2019, 01:16   #22
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Re: What would you do? Go or No-Go?

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1) Cut the boat price in half and go a bit smaller. As a single guy you don't need a huge boat. This will free up your oops fund.
I was thinking the same and as Adelie suggested mid to high 30s is a great size. We have discussed this recently in some other threads.

Also, since you seem to have few ties, you don't need to start in the US. Now that opens up all sorts of possibilities. Would your kids like to see the home of the Olympics, or Rome, Paris or London.

Something like this perhaps:

https://www.yachtworld.co.uk/boats/1...nced%20listing

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Old 21-03-2019, 01:53   #23
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Re: What would you do? Go or No-Go?

So you're getting a cacaphony of different conflicting advice. Good. You'll have plenty to choose from.


Early 40's is early to mid career and you may have 50 years of life left. You cannot imagine what else you might want to do in life, at that stage. Only if you really hate work, will you just not want to ever work again. And if you really hate work, you've got a serious problem which means you are missing out on one of the very best things in life (not liking work is roughly equivalent to not liking sex -- it means you don't like life). In that case, maybe go back to school or retrain yourself for something completely different, or think about starting a business, or plan to do so after a few years of sailing.



Unlike many on here, as much as I love sailing, I don't love it more than I love my work. I find ways to combine sailing with work and even managed to work remotely while spending three months well away from any civilization last year. Although I am older than some of the retired guys on here.



Kenomac on here, and his wife, do a superb job of combining work and sailing -- they have excellent jobs as nurses, and work half the year, and sail the other half. That's just one way to combine sailing.



You have plenty of time left to earn more money. So I wouldn't overthink this. If you have some money and some assets, not necessarily enough to live on for the rest of your life, then good for you -- just go sailing for a while, for a few years, for whatever strikes your fancy, and then go back to work when you feel like it or when you need more money. The kind of reserve cash you need is very different, if you still have the energy and youth to work, compared to the old farts on here who are just done with work. It's a completely different position.


I would also differ with some of my esteemed friends on here concerning the size of the boat. If you are on the boat full time or even for months at a time, bigger is, while maybe not essential, certainly nicer. The bigger the boat, the less it's like camping. Just try to get a good idea of the cost of maintenance, repairs, and upgrades, before you choose a boat. Buying a boat is not like buying a car, where once you've laid out the purchase price you're good for years before you have to make any investment. A boat requires investment EVERY YEAR, especially after it reaches that age where the systems start to time out or wear out -- so 8 to 10 years. You should have a significant percentage of the price of the boat in reserve for these costs, more or less depending on age and condition. I spent $50 000 on sails a few years ago -- word to the wise -- and $20 000 on rigging the year before. BOAT stands for Break Out Another Thousand. Underestimating this is a classical mistake for starting out cruisers.



So in sum, I would treat this like a sabbatical, rather than early retirement (actually retirement before your career is even really started). You should have plenty of money for a nice 2, 3, 4 or whatever years sabbatical, or seabbatical, if you like. Have fun, and while you're doing so, think about what you want to do for the next stage of your career.
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Old 21-03-2019, 04:00   #24
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pirate Re: What would you do? Go or No-Go?

If you have to ask a bunch of strangers, your not ready..
Don't Go.!!!
Financially you've more than many who have 'Gone'..
Your boats to big, your experience to small else you'd have made a different choice..
An extra 5ft does not make the view any better nor does it win any bragging points these days.
Cruising aint a Rock Star life style, more the opposite so maybe leave it till you calm down.
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Old 21-03-2019, 04:09   #25
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Re: What would you do? Go or No-Go?

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Originally Posted by Magic1st View Post

The time may be right?

I'm early 40's, found the dream boat that i want. And, I can pay cash (at a premium due to cashing in some funds early). I own houses and apartments on the side, which I will keep.

What would you do?
All I can tell you is what we did (are currently doing).
We left it all behind at age 35 with no plan and no security and against what everyone else told us to do/warned us against. Oh, and it was also (easily) the best decision we ever made!

Life is short.
Who knows if you'll see retirement after finding another job? Who knows if any of us will see tomorrow?

You have some real estate to back you which should grow in value while you're gone... but this shouldn't be a discussion about numbers because you probably fine if you're asking these questions. This is about living your life, chasing dreams and not waking top ne day to regrets about the things you didn't try.

Here's the beauty everyone seems to forget... you can always go back.
Actually, while I didn't know it before - going back to your old life and/or getting another job is easy. It's a known entity...its always waiting on you.

Try to make the decision as though it were a year long vacation, then its way less daunting. Next year you can decide again whether to keep sailing or return to life as you currently know it.

Better yet... What would you do if you knew you couldn't fail?
Spend some time on that and then do it now (nows all we've got).


We've only been at this sailing thing for a couple months but I can't tell you how many people (who had it as a lifelong dream) we've already seen/met who are abandoning it really early on (some before finishing the first crossing) or after a few months/year out.

There's nothing wrong with that, it's clearly not for everyone... but it's sobering and has me thinking...did they sit and wait and dream of this their entire life? Now that they tried it and realized it wasn't for them... did they save enough time, money, energy to try the next dream on for size??

Good luck with the decision...
If we can help don't hesitate to reach out!
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Old 21-03-2019, 04:23   #26
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Re: What would you do? Go or No-Go?

Buy a $20K boat and save the $200K for backup.

You might not even like sailing full time.

Also, you don't have to sail to the Caribbean. Any large body of water will work to start out with.
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Old 21-03-2019, 04:57   #27
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Re: What would you do? Go or No-Go?

I was gonna say 100K for the boat. But GO.
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Old 21-03-2019, 05:13   #28
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Re: What would you do? Go or No-Go?

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All I can tell you is what we did (are currently doing).
We left it all behind at age 35 with no plan and no security and against what everyone else told us to do/warned us against. Oh, and it was also (easily) the best decision we ever made!

Life is short.
Who knows if you'll see retirement after finding another job? Who knows if any of us will see tomorrow?

You have some real estate to back you which should grow in value while you're gone... but this shouldn't be a discussion about numbers because you probably fine if you're asking these questions. This is about living your life, chasing dreams and not waking top ne day to regrets about the things you didn't try.

Here's the beauty everyone seems to forget... you can always go back.
Actually, while I didn't know it before - going back to your old life and/or getting another job is easy. It's a known entity...its always waiting on you.

Try to make the decision as though it were a year long vacation, then its way less daunting. Next year you can decide again whether to keep sailing or return to life as you currently know it.

Better yet... What would you do if you knew you couldn't fail?
Spend some time on that and then do it now (nows all we've got).


We've only been at this sailing thing for a couple months but I can't tell you how many people (who had it as a lifelong dream) we've already seen/met who are abandoning it really early on (some before finishing the first crossing) or after a few months/year out.

There's nothing wrong with that, it's clearly not for everyone... but it's sobering and has me thinking...did they sit and wait and dream of this their entire life? Now that they tried it and realized it wasn't for them... did they save enough time, money, energy to try the next dream on for size??

Good luck with the decision...
If we can help don't hesitate to reach out!
Nice write up, I'll give you extra credit for that, but 90% of the people we've met who've tried cruising will or have quit within the first year or less and loose a boatload of money in the process. I hope you're one of the exceptions, but not sure offering up advice two months into it is....

I think what makes it work for those who are successful, is balance. Cruising doesn't have to be an all or nothing proposition. For once and possibly the only time... I agree with Thomm225, get something smaller and cheaper and give sailing a try first, don't just jump in head first so the couch potatoes on this forum can watch you like a slow motion train wreck. Find a way to work at something you enjoy and split your time between cruising and work, then you won't need to ask a bunch of strangers how to live your life.

Good luck.
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Old 21-03-2019, 05:50   #29
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Re: What would you do? Go or No-Go?

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Early 40's is early to mid career and you may have 50 years of life left. You cannot imagine what else you might want to do in life, at that stage. Only if you really hate work, will you just not want to ever work again. And if you really hate work, you've got a serious problem which means you are missing out on one of the very best things in life (not liking work is roughly equivalent to not liking sex -- it means you don't like life). In that case, maybe go back to school or retrain yourself for something completely different, or think about starting a business, or plan to do so after a few years of sailing.
Assuming the OP didn't take 10yrs to finish college...he's likely put in 20-25yr...given the typical career of 30-40yr, he's mid to late career.

But more importantly, the passive income gives him lots of options if he wants to go get another career later. I just wouldn't be comfortable spending a 70-90% percent of my liquid assets, particularly on something I never tried before and might not like. It's too easy to lose a bundle buying a pig-in-a-poke when you have no experience. Start small so your mistakes are small.

PS: I missed the part about the kids in my first response. How they get integrated into the plan is a huge issue. I have a brother-in-law who took a job in Alaska and left two of my nieces behind for 5 years other than a couple weeks each summer...I don't know if he's ever going to repair the damage to those relationships.
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Old 21-03-2019, 06:40   #30
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Re: What would you do? Go or No-Go?

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Nice write up, I'll give you extra credit for that, but 90% of the people we've met who've tried cruising will or have quit within the first year or less and loose a boatload of money in the process. I hope you're one of the exceptions, but not sure offering up advice two months into it is....

I think what makes it work for those who are successful, is balance. Cruising doesn't have to be an all or nothing proposition. For once and possibly the only time... I agree with Thomm225, get something smaller and cheaper and give sailing a try first, don't just jump in head first so the couch potatoes on this forum can watch you like a slow motion train wreck. Find a way to work at something you enjoy and split your time between cruising and work, then you won't need to ask a bunch of strangers how to live your life.

Good luck.
Thanks for the extra credit... I guess.

I agree, it doesn't have to be all or nothing, but for those of us who did not enjoy working for someone else everyday... sometimes you need to "shake things up".

You offer one solution (keep working), I offer another (try it on for size and see if its right for you).

We put an offer on our boat 3 days after first discussing owning one... but most people don't work that way. "Analysis paralysis" is a very real thing and people can spend an entire lifetime never making the leap because "safety first".


We may only have been at sailing a couple of months, but we've been living free of jobs we hated and making decisions based entirely on happiness and living life fully for 7+ years with no intention of stopping...
I think that earns me the right to speak on the topic of following your dreams and taking risks, which is really what this decision boils down to...not specific to sailing (where I admittedly have no right to speak as i've yet to even make it out of the Bahamas... that's tomorrows job/plan).

I also know well and have seen personally that there are millions of people (society at large) telling the OP why its impossible and why they can't/shouldn't follow their dreams with wild abandon. They and any others looking for something/anything other than working a job they hate should also hear the other side.

They should hear that IS actually possible to survive/thrive "out there", that there are other ways to make it through life other than the 9-5 grind and stashing away for a retirement that will never come. I intend to keep telling them just that because I wish someone would have told me earlier.


And for the record...
We may not be sailing a year from now (just like so many others I have already seen turn around for home), but that has nothing to do with luck and/or failure.

We are having the time of our lives out here... and if we decide to make a change and pursue some other adventure in the future it will be because that adventure looks even better than this one!
If that happens within a year, will we lose money on the boat - yes, of course... but would I have paid the same amount upfront to know I chased my dreams, live with zero regrets and have a lifetime of stories/adventures to tell in the process... ABSOLUTELY!
Also, isn't losing money kind of outside the scope? At least based on everything ive read on here and experienced in a few months - buying a boat means losing money anyway - might as well be doing it out here!!
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