Cruisers Forum

Join CruisersForum Today

Thread Tools Rate Thread Display Modes
Old 08-11-2007, 13:17   #16

Join Date: Nov 2004
Posts: 4,525
Originally Posted by Fishspearit View Post
I disagree that you have to be independantly wealthy to go cruising, but it sounds like you might have to be wealthy to go cruising in the style that you want.

My wife and I sold our cars and possesions for a total of $15,000. We bought a 30' sailboat for $12,500 in the Chesapeake, then spent the next 7 years living aboard and travelling between there and the Caribbean. Yes, we had to stop and work periodically. We'd work six months to a year or so while living at anchor to save up a few thousand dollars and then take off again, usually going a year or so and getting down to nothing before we found work again. Sure, it's hard looking around at all the older retired folks who didn't have to work anymore, had bigger boats, steady retirement income, but I knew they had worked for a lot of years to get to that point and I hadn't. I was poor and that part sucked but I was young and didn't need a windlass, or a fridge, or a shower on the boat, or the other luxury items that we couldn't afford. You either go with what you have or you admit that you don't want it bad enough.
After 7 years we got to that point. I know it's hard trying to cruise while living on your capital. We decided to sell the boat and work towards building income generating assets. As soon as our house sells and we can get our equity back out of it we're going cruising again. It won't be on the boat that I'd love to have. It will be old with it's share of problems(but newer than the last one which was a 1962) And we won't have piles of money or be independantly wealthy but I know that as long as we want it bad enough we can do it, and we can get out there, and have fun with it. You'll never feel like you have enough money. The boat will never be completely ready. You may not even think it's the right boat; but the right boat is the one that takes you cruising. And the right amount of money is what you've got in your pocket when you think it's time to let the lines loose.
Ahhh... my comment "independently wealthy" means just that: Having wealth without having to be "dependent" on anyone. Sounds like you are close to it now.

"Independently wealthy" isn't rich... it's having the wealth, indpendent of work, to live as you choose (which in our case is as cheaply as one can without starving).

So when I say "indpendently wealthy", I mean that I will wait until we have enough in a kitty to cover cruising, which is not doable at this time.

I probably should have gone into more detail.

PS: I am looking at the advice of others who have thankfully posted the helpful financial ideas. Being a young guy, the help you more experienced finance guys let out here has been of great value. Thank you!

I will be able to address them after evaluating them.

I'm bearish on the 3 year American equities prospects, but will return to the American investments later... after I feel the little dip is over. (We all have to guess on that one...

ssullivan is offline   Reply With Quote
Old 08-11-2007, 13:25   #17

Join Date: Nov 2004
Posts: 4,525
Originally Posted by TaoJones View Post
It isn't necessary to get your money out of the USA to accomplish what you propose, Sean. You just need to get your money into non-dollar-based assets. I suggest you look into Euro Pacific Capital : Because there's a bull market somewhere. as they excel at just this sort of thing.

So, has your Canadian buyer accused you of "stealing" his title?


Thanks for the link. Very helpful. I have some lingering fears about using a US company to manage my money though... call me crazy and doomsday, but I want to spread my little bit of capital far and wide (diversified) with the exception of the US for the next couple years. My fears my seem irrational, but *if* there is a dollar collapse or something... I feel this (or any other US bank/brokerage) may not pay out what they owe when a share of some foreign stock is worth $100,000 (in an extreme example). So... I want to go where money is safe, historically.

On a more light hearted note, the Canadian didn't suggest I made my new paper airplane out of the title. I just want to make sure he has everything he needs. Even though I wasn't happy with his stealing assumptions, I'm still going to honor my side of the sale the best I can.

ssullivan is offline   Reply With Quote
Old 08-11-2007, 14:41   #18
Registered User

Join Date: Feb 2007
Location: Land locked
Boat: NONE yet
Posts: 114
You should have taken the gold you see gold prices lately.
charley is offline   Reply With Quote
Old 24-12-2007, 16:33   #19
Registered User
hallie's Avatar

Join Date: Dec 2007
Location: oregon coast
Boat: Matsu, Columbia 34
Posts: 32
Send a message via Skype™ to hallie
independently wealthy

have you read voyaging on a small income by annie hill?

this was geordie's first maneuver to get me interested in sailing, and it worked very well. it inadvertently (for him, i am sure) converted him to a saving-and-make-do sorta fella, out of the 'i guess i have to buy one' guy he'd been.

anything is possible if you want it bad enough.

Geordie's first mate (ha!) on Matsu, the mighty Columbia 34

when people lost sight of the way to live came codes of love and honesty
~Lao Tsu

life is dangerous and always ends in death.
hallie is offline   Reply With Quote
Old 27-12-2007, 17:43   #20
Senior Cruiser
senormechanico's Avatar

Cruisers Forum Supporter

Join Date: Aug 2003
Boat: Dragonfly 1000 trimaran
Posts: 5,140
Originally Posted by David M View Post
I tend to disagree with you that you have to be independently wealthy in order to cruise. Ask those people who cruise in this forum who are not independently wealthy. Ask them how they do it. Perhaps a few in here might like to volunteer this information? Usually if there is will then there is a way.
Here's a guy doing it on not much more than his Social Security check.

48 North - Feature Article

Steve B.
senormechanico is offline   Reply With Quote
Old 28-12-2007, 10:13   #21
Armchair Bucketeer
David_Old_Jersey's Avatar

Join Date: Oct 2006
Posts: 10,013
Images: 4
Originally Posted by senormechanico View Post
Here's a guy doing it on not much more than his Social Security check.

48 North - Feature Article

Steve B.
David_Old_Jersey is offline   Reply With Quote
Old 28-12-2007, 10:37   #22
CF Adviser

Cruisers Forum Supporter

Join Date: Dec 2007
Location: Wherever our boat is; Playa Zaragoza, Isla Margarita
Boat: 1994 Solaris Sunstream 40
Posts: 2,408
For many of us, its like making the decision to have children - if you wait until you think you can really afford it, you'll either never do it, or be too old to properly enjoy the experience.


Southern Star is offline   Reply With Quote

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Coast Guard Suggestion JusDreaming General Sailing Forum 6 28-11-2008 13:27
Coast Guard inspected passenger vessel brian and clare Construction, Maintenance & Refit 8 03-07-2007 12:54
Hi from UK East Coast.... FullCircle Meets & Greets 4 10-05-2007 12:32
US Coast Guard SSB Broadcasts on 2182 kHz Dream Maker Marine Electronics 3 27-03-2007 11:20
Coast Guard withdraws Great Lakes live fire plans GordMay Great Lakes 5 21-01-2007 06:23

Our Communities

Our communities encompass many different hobbies and interests, but each one is built on friendly, intelligent membership.

» More about our Communities

Automotive Communities

Our Automotive communities encompass many different makes and models. From U.S. domestics to European Saloons.

» More about our Automotive Communities

Marine Communities

Our Marine websites focus on Cruising and Sailing Vessels, including forums and the largest cruising Wiki project on the web today.

» More about our Marine Communities

Copyright 2002-2015 Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 19:24.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.