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Old 14-11-2009, 12:05   #91
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retiring early with financial independance to go cruising makes us all jealous and go for it. the one thing I thnk about is say retirement cruising starts at 45 and goes to 65 then the world comes crashing down and I have to park that chapter of my life and I am too sick to go to work and my fonances have dwindled. who is going to pay for my but in a old folks home or worse. think about saving some for the afterlife of cruising. I hope you do it and personally I would head to the keys and leave my boat close. no airfare to get to it and just a das sail to some truly wonderful islands to the east.

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Old 14-11-2009, 12:11   #92
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Coach, appears to be walking the talk about livign the dream but keep in mind you can't sell real estate with alzheimers.

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Old 14-11-2009, 12:31   #93
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Everything in life is a chance. I guess it's best to just work until you are dead? We all get through life differently, and that diversity is what can make life exciting. I am going to slide into home plate all beat up with scars on me. Others can sit in their rocking chair, and enjoy life from there........i2f
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Old 14-11-2009, 12:33   #94
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or this;

Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but to skid in sideways from the outside groove, thoroughly used up totally worn out and loudly proclaiming.........WOW.......WHAT A RIDE!

I only say plan for old age financial well being because the last thing you wanna be is a financial burden to your kids who may have financial shortfalls of their own at the same time. From experience.
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Old 22-11-2009, 19:06   #95
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My opinion is that your trying to walk way to tight and complicated of a balancing act in terms of lifestyle and family. Additionally, your income, while currently high, is based on a profession that is entirely too cyclical and tenuous. Complicated lifestlyes, just like complicated machinery, fail much more often than simple solutions.

Instead of trying to have the best of all worlds, which sets you up for too high a risk of failure in my opinion, you need to commit to one lifestyle. If you want to live a full time cruisers lifestyle, than do just that. Commit to homeschooling your kids and live as frugally as your tolerance allows to make that 2 large stretch for as long as possible. And be happy with a choice and the resources that will let you live a stress free life for a relatively long period of time. Otherwise, tomorrow will rule your life, but will never arrive. Live for today. Given your resources, you may come into new opportunity and rewards that would have never been available to you without the full long term commitment. Instead of concentrating on how your money will bring you passive income, use it to buy you the time to explore ways to broaden your personal skillset that will allow you to earn a consistent active income while cruising. Get creative to understand how this can best apply to you. Unless you want to commit to being on land, forget real estate as a long term income solution.

Or, commit to life on land and keep cruising as a part time hobby. You will need to be on land most of the time to effectively manage your real estate investments. Coming from a lot of experience, I know this as an absolute fact. This becomes more true the more money that you have tied up in those investments. No one will care about your properties like you do. This is the more stable and surefire lifestlyle for your family. But you give up the benefits of cruising full time.

Remember, however, that your nestegg loses value for every day that it remains liquid. Invest it in assets, business, or education. Or invest it in the life experience of full time cruising. But whatever you do, commit to one lifestyle so that you limit your risk of failure.
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Old 23-11-2009, 03:13   #96
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Very well written hydrogonian.
But you have to remember that most people are motivated by fear. And since for most folks money equals security, they spend their lives earning money instead of living.
"Life is either a daring adventure or nothing."
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Old 28-11-2009, 12:10   #97
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Hi VegasAndre,

I don't know much about investments and a lot of the other things you have asked about, but I do know about some. My background is that I grew up in several different countries, and went to the excellent ex-pat schools in each. They were good enough for me to get into Harvard, and I did not have the guts to say no, although I hated the cold.

I did go off cruising at 42, without a whole lot of assets, and only a 33 foot monohull, and my girlfriend of the time was having no part of it. I now have a 45 foot Leopard which my girlfriend (actually, she deserves a better title) and I operate as a crewed charter yacht in the BVI. I have lived aboard for 23 years and am now 61.

Some thoughts: with regard to kids going sailing, I have yet to meet one that did not benefit from it. Since you abhor home schooling, perhaps you should just take a year off with them and let them profit from the experience. You may be surprised, and you may find a form of home schooling that you like. More likely, you may find a place that you like, and stop for a year or two and put them into schools, there. And the care and quality of THOSE schools may also suprise you, not to mention the incredible experience this will provide.....not to mention something for future college admissions officers to underline as interesting and unusual. Medical care is not the only thing that exists in other countries, often of higher quality and lower cost than ours! How do you think all those third-worlders get into our top schools?

Give it some thought. If the idea, or the experiment, sound good, then go now and learn to live a bit less expensively. He who owns little, it little owned. Very true. A simple boat, even a big one, can be much more fun than a complex, super comfotable one. And you can learn as you go. I grew up with absolutely NO mechanical experience and motion sickness. I did not know the difference between a flat head and a phillips screw driver, and forget about Allen keys! Really. But, I can now fix most things, install almost all of them, understand almost all of them, and can do it underway in rough conditions. And, I have found the process very satisfying. Not necessarily easy, but satisfying.

I always recommend bareboaters to charter the simplest boat they can, and not fall for the marketing hype of features that the big companies provide. That way, they sail more and enjoy where they are more, although they may not learn as much about where the repair men are. And, they may never have to meet the Charter Companies service boats! Same thing goes for cruising boats.

If you decide against my experiment, and you probably will, then before you plunk down your hard earned cash with the Moorings, realize that a company that guarantees you that they pay for the maintenance has a vested interest in cutting corners. Sorry, but that is the way it is. You would think that if they wanted to sell you another boat in the future, they would treat you like a treasured asset. They will, when you visit, and they will do all sorts of things to get your boat ready for when you visit (including cannibalizing your sisterships), but when you are gone, the shoe will be on the other foot.

As the buyer of a former Moorings Crewed Yacht, I could give you all sorts of details....just beware. And the salesmens' mantra that "after phaseout, all boats will be in excellent condition and equal" is just not true. You CAN get a very good boat out of their fleet, but it is hard work and takes time. Check my previous posts on this. You will earn everything you get, when the discussion hinges on whether something is "damage", or fair wear and tear.

But, I do have an alternate suggestion. Buy an already operating and successful privately owned crewed charter yacht. You will save by buying used. It will be in excellent condition and very well equipped. You will be able to add whatever you want. It will come with crew competent in its operation and upkeep. If you don't like the crew, you will be able to get a crew you DO like. If you want them aboard with you, that will happen. If you want them off when you are there, that can also be arranged. You will be to use the boat whenever you wish, wherever you choose to move it, and as often as you wish. The rest of the time it will be earning its keep and being kept in top shape. Don't plan on making any money at this....but you will lose a lot less and have a lot better boat than any of the other options you are looking at. There are a few brokerages that specialize in this.

You may want to keep the boat in the Caribbean in the winter and spring, and then move it up to the East Coast/New England for the summer. That puts it in the right places at the right times for both you and for chartering, although I personally don't mind the Caribbean in the summer......lighter winds, more anchorages available, much less crowded and hurricanes are a manageable risk. But then, like you, I enjoy the heat and humidity.

You may find this lifestyle so appealing that you do it permanently. Or, you may choose to take the boat to the Med for a year, or some such thing. Or, in time, you (and heck, maybe even the kids) may choose to take the boat out of charter and go cruising. All these options would be your decision, and none of them would be bad.

Then, you could live somewhere you have many suggestions, and personally, I would live somewhere I could have the Catalina nearby, but that may be really expensive. You can keep your company going without getting stale, since you will be spending lots of time on your boat. And, you can evolve your lifestyle as your time and finances evolve. You won't be risking much, and you will be gaining a lot....and a lot more than if you put a new boat into the bareboat business. At at the end of the five year period, your used bareboat will not be worth any more than your more used crewed charter yacht, and the later will be better equipped and in better shape. You will have gained the charter income to offset the difference, it is absolutely true, but I am betting you will prefer my option.

But whatever you do, do it soon, enjoy what you do, and don't look back at the other options you decided against.

Good luck,
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Old 07-12-2009, 15:16   #98
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you guys rock!!!

I probably have never been more impressed by people in my life as from some of the people on this board who continue to deliver such thought out advice from their hearts and from their life experiances .

We are amazed.

Tim- thank you ,thank you, thank you for that great reply! It appears you may have uncovered something that might work for us.

Hydrogonian-thank you as well. The "Complicated lifestlyes, just like complicated machinery, fail much more often than simple solutions."
is a classic. and I know it to be true!

Never have I been more impressed.

Of course since I started this thread , I have been trying to narrow down several things for myself and my family. Not too Easy- especially when not all of them want the same things or have the same goals. It is finding the compromise . It is also about the life experaince which seems to be a recurring answer in many of the posts here- that the longer you wait - the harder it may be to go and it will be difficult to replace that lost time.

A little update then.

On the "move to location" topic:

We just got back from a 2 week transatlantic cruise with the kids-no ,not aboard a sailboat but a very large cruise ship (please dont laugh- the wife and kids enjoy it and I guess I do a "little" too).

Anyway boat docked in Ft lauderdale Yesterday. Since I had never been to Ft Lauderdale (not sure why our paths havent crossed yet), decided to check it out a little.

We may have found a strong possibility for a land base location to move to eventually. Went down to the Las Olas area and all I can say is :
Nothing like having you sailboat and fishing boat docked in your back yard with easy access to a lot of areas while having a cool house in a great area in a tax free state. I felt a state of Euphoria as I thought I had found boating mecca.

of course I will be sure to check it out in July/August and see if I feel the same .

Now on the boat front:

As some may have read my other posts on other threads I have pursued the Moorings Leopard 46 deal but have surprisingly (or I guess not surprisingly) run into a wall called "The Current state of marine financing for the self employed realtor" So, anyway, as I refuse to buy it for cash as it doesnt make a lot of sense for us - I have promised to continue pursuit of this option next spring when maybe the state of the union is a little better as far as credit markets are concerned and maybe the Moorings gets a little more desperate. Now I as I have just read Tim's great post, I think I may further research the used crewed charter boat idea more closely as that may be a definate alternative.

Thank you all once again!!!!!!!!!!!!
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Old 09-12-2009, 03:55   #99
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Feel free to PM me with any questions about Ft. Lauderdale and South Florida. I work in commercial real estate and have lived on the water here since 1998. Lauderdale is a good place to live if you are looking to balance working and boating. Between the Bahamas, Biscayne Bay/Miami, and the Keys, your destination options are many for long weekends or two week cruises.
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Old 09-12-2009, 07:27   #100
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Hi VegasAndre et al.

This has been a great thread... Congratulations on your success..

Having " Options" as you are realizing can be both a blessing and a pain at the same time. I found life so much simpler..when I knew I had to " get up" and go to work everyday! Now that I'm can almost have too many options...I'm not complaining...options are good..

It's been interesting watching you "eliminate" the things that don't work for you, that's part of the process....I'm going through that myself

I tend to agree with Ex Calif ..not to exclude many of the other good points made here.

Here are some of my thoughts most of which have been already stated:

If I read correctly, you have million dollar home but zero equity in it, I didn't see whether or not you have other notes: on the boat, cars etc...and you have 3 pre-college age children. While 2 million in liquid assets sounds like alot of money, and is.

IF.. your plan is to retire, AND maintain your current lifestyle, you will need to make some very careful choices, which you know already. A house, 2 boats, a few cars, and 3 college educations ( unless the all get full scholarships) will eat into 2 million dollars pretty quickly.

Investing in something that will provide you with the residual income you need seems like a good path to take, if you are really ready to stop working. Have you figured out, what you are going to do all day, if you don't have to work for the next 30-40 years?
The kids go off to school every day, have sports, and friends...what will you every day? I'm not being a wise's a question only you can answer..but a question you want to ask yourself

If you want to live off interest only, then as others have stated, you will need to add to the principle.

Right now you have cash flow, you're working! But... Stop working, buy a 700,000 house in say South Florida, a $300,000 boat...and you're left with a million dollars in the bank to live off for the rest of your life....Could you live on your current mortgage payment?..

One thing about kids, is that they grow up....what they are willing to do today with mom and dad...often changes dramatically once they become teenagers.

You have a ton of options...where to live, how to live, what to invest in..etc etc..only you and your family can figure out what works best for just appears to me that...unless you're willing to down-size your lifestyle...your current nest egg is not as big as it seems....and you need to be very deliberate....which it seems you are being..Enjoy the process...exploring all your options is part of'll know when you know...

Best of luck
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Old 09-12-2009, 09:00   #101
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A.... P.S

It's a buyers market out there...I kinda like Dave's suggestion....IF it's a change of scenery and easier access to the water you need...Liquidate Las Vegas..and re-locate to south florida....what went down...will come the money you lost on the vegas home, you could eventually make up in Florida....or San Diego....I Think I like the boating/fishing options in florida better...and I think there are better deals.
You can always get out of the Summer jumping in the pool.

And like Dave said...there are plenty of foreclosures in florida to keep you busy..and keep the cash flow going....

There's only so much waterfront property...and there may never be a better time to buy ....Work may not seem so bad...if your boat was parked in your backyard...
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Old 09-12-2009, 09:50   #102
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geez i'm 56 and would like to retire .. maybe if only with a 33' monohull? maybe next year .. if i promise to be good?
sometimes the things that may or may not be true are the things a man needs to believe in the most.
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Old 09-12-2009, 10:20   #103
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yeah right you troll, I've got a bridge in brooklyn
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Old 10-12-2009, 16:24   #104
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In cruising, or for that matter just about any new hobby/calling, there is a learning curve. You are considering a drastically different lifestyle than the one you have now, and since it is so different, you and your family have stated that there are several things that you are not willing to give up or forego. The truth is that what you think you need/want to be comfortable and enjoy yourself is almost certainly not what you actually will need/want once you start out there.

You have a gift right now that 99.9% of the people on this planet will never have - a large financial base to use to reinvent lives. With 2m in assets, the world s your oyster - you just need to jump in and dive for the damn thing. Imagine this as a scenario. Sell your house, and most of your material possessions. Put the ones you cannot lose in storage. Invest the $$$ you have in whatever way gives you the most freedom from having to work at it.Do this conservatively, to maximize your financial base.

Now, take the kids, wife, and yourself, and go sailing ON THE BOAT you OWN now. That's right. It may be small for the lot of you, but that is a mental thing. View it as a learning experience, and put a time limit on it, that you will not go over or under - perhaps a year. Then, I think, everyones ideas on what they want and need with be different. THEN, make those decisions on what boat to buy, where to sail, and for how long.

With respect, I think you are still thinking like a consumer. What do I need to buy to make our lives more fulfilling. The question should be, what do we need to do to make our life more fulfilling.

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Old 14-08-2016, 00:54   #105
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Re: Looking to Retire at 43 and Sail a Cat - What Would You Do?

Are you SURE you need such a large craft? Smaller is better for many people--easier to get into rivers over bars--can get closer to islands out of strong winds--can be easily beached, cheaper to maintain--easier to handle, smaller marina berths required, cheaper insurance and less fuel and smaller sails etc--cheaper ghaul-outs for antifouling etc
I bought a 42 footer. Thirty eight would have easily been adequate--but we did not discover this until much later. The possessions and tools load expands to fill the space available--

Buy the smallest boat you can tolerate. You will travel further because it will cost you less to do so.

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