Hi all, I've been been an off and on lurker here for years but now I think we can finally make a go at part time cruising. So I thought I would outlay our plan and see what everyone thinks.
My wife and I have been talking about cruising since we got out of college, unfortunately life got in the way and we spent the years saving money
instead of sailing. We are at a point now that I think we might be able to make it work.
Basically we own a large chunk of land in north central MN, the land is paid for and we have the cash to build a modest comfortable house on it. I also am budgeting about $45k for a decent boat, I am a carpenter
and I have good friends in other industries such as upholstery and furniture making that would be eager to help fix up a boat.
My wife is a Nurse and thinks she could easily negotiate with her hospital to basically work 6 months full time and then take winters off. I would likely pick up odd jobs in my current
line of work, but it wouldn't be a great deal of extra money
. We are also planning on having our first kid next year. From what I've been reading here it seems like kids
do just fine on a boat. If my wife works 6 months I figure she would make probably $25k after taxes
. We own a rental property that will be paid off in 2 years and generates about $900 a month(so call it $10k after a few repairs). Since I will be mostly a stay at home Dad I will probably only make about $10k. So we have a budget
of about $45k. We figure that to pay for our basic expenses at home and keep the house running we need about $15k, mostly because the house we build will be off grid, taxes
are VERY low, and I already hunt/grow most of what we eat. Then I add in a budget
of about $12k to sail ($2k per month) to cover expenses/boat repair and storage
for the 6 months we are not there. The remainder of what we earn would be put into our retirement
fund so that as it grows we can stay our longer or work less when we are in MN.The thing I like about this plan is that if we ever run short on cash or a large unexpected repair/expense comes up we can just stay an extra month or 2 and save up the extra needed money without having to sacrifice our savings goals. We also really like MN summers so it will keep us connected with friends/family and keep us from getting burned out from living on the boat full time.
We do not have any sailing experience so I was planning on taking a cruising class through Contact Us | Offshore Sailing School
Comments/suggestions are greatly appreciated.