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Old 08-11-2007, 14:17   #16
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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...
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Old 08-11-2007, 14:25   #17
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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?

TaoJones

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.
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Old 08-11-2007, 15:41   #18
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You should have taken the gold you see gold prices lately.
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Old 24-12-2007, 17:33   #19
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independently wealthy

have you read voyaging on a small income by annie hill? http://www.powells.com/s?kw=voyaging+on+a+small+income&x=0&y=0

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.



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Old 27-12-2007, 18:43   #20
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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


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Old 28-12-2007, 11:13   #21
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Here's a guy doing it on not much more than his Social Security check.

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Old 28-12-2007, 11:37   #22
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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.

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