Dream Boat or go ASAP?

[FollowingCs]

Thoughts on cruising/liveaboard As Soon As Possible (i.e. all kids off to college), or waiting a few more years to accumulate more cash for the 'dream boat'?

I have a 5 year plan (age 54) that involves a cheaper cat, and a 10 year plan (age 57) that involves a dream cat (although probably still used). There could also be a 3 year plan that says 'chuck it all, buy what we can, and get going.' I'm not sure the wife would ever go for the 3 year plan.

There is also a potential dream boat 5 year plan that involves us running our business from the boat.

Any thoughts or stories to tell here? Anybody go too soon and ruin the experience, anybody wait to long and couldn't go due to health issues?

All the best,
FollowingC's

[sailorboy1]

If it were me (and it is) I would not wait for my "dream boat". I would get a "good" boat that is comfortable and go sooner. So I like the idea of the 5 year plan best.

More important than the boat is the amount of money you have for living and cruising. That will make way more difference than having a fancier boat. Even if you go the 7 year plan I would put that extra money into my cruising kitty before spending it on a fancier boat.

[SV THIRD DAY]

Since the absolute BEST way to learn what you want and need to cruise is to actually DO IT, I say go NOW with a cheap and simple boat...then use that time out cruising to learn what you REALLY want and need!

I've sold quite a few water makers to people in that "5yr plan" mode and then get a call from the new owner asking how to run the water maker. The 5 year plan turned into Cancer or other health issues and never happened!

Go Go Go....
If you love it...then use that experience to buy your Dream Boat, but until you have been out cruising....how do you even really know what "Dream" you have?

[Cheechako]

Yep, you don't even k now if you will like cruising for more than 6 months at this point. Get something and go!
I had as much fun in my 30 footer as my 47 footer.

[SaltyMonkey]

Questions questions

Have you ever sailed before?
Have you ever owned a boat before?
have you ever cruised for an extended period?
Do you have enough capital to fix and outfit either boat?
Do you have enough capital for cruising?
Did you estimate this conservatively?
What is your plan should you return to civ life?
Do you have adequate capital to return?

[mikethedane]

not that i¨m able to give any direct advice or suggestion but i would proberly go for the one where you buy it cheap and then get the dream one in 10 years from what i have been told a boat don¨t lose that much value when they pass 10 years ..

personally i¨m going for a boat now and then figure out what i want to have and what i don¨t want to have and then start to build my dream boat in 5-7 years and i wanna have a Catamaran

[a64pilot]

I'm 55, last kid starts College in three yrs., I plan on going then. Not sure how I'm going to convince the wife, but I'm going. I'm going to miss her if she doesn't come.
I know if I wait much longer, I'll be too old or sick, and then what? Your done, you don't often get a second chance

[SaltyMonkey]

Originally Posted by a64pilot

I'm 55, last kid starts College in three yrs., I plan on going then. Not sure how I'm going to convince the wife, but I'm going. I'm going to miss her if she doesn't come.
I know if I wait much longer, I'll be too old or sick, and then what? Your done, you don't often get a second chance

Whats wrong with the boat you got?

EDIT never mind…guess its a capital / time issue

[DefinitelyMe]

Island packet 38? May be too big for one person (potentially) but perfect! Take it and GO!

[fishin4bogey]

If you have everything in order, I'd leave sooner rather than later.

If I do this I'll be on the 8-10 year plan. I'll be 58 by then. Seriously thinking of heading out west and driving a truck on the oil rigs. Save like a man possessed, and when all my ducks are in a row...buh-bye!!

Sent from my SPH-L720 using Cruisers Sailing Forum mobile app

[boatman61]

Always smile when folk in their 50's start talking about their 10yr plan.. the clocks ticking guys..
Get out there while you still can..

[FollowingCs]

Originally Posted by a64pilot

I'm 55, last kid starts College in three yrs., I plan on going then. Not sure how I'm going to convince the wife, but I'm going. I'm going to miss her if she doesn't come.
I know if I wait much longer, I'll be too old or sick, and then what? Your done, you don't often get a second chance

I've been easing my wife in to it. We've been reading alot of books, especially the $1.99 ebooks from folks trying to subsidize their cruising with published stories. 'Get Her On Board" is a good one, even my wife read it. "Que Barbara" is another one she liked.

All the best,
FollowingCs

[FollowingCs]

Originally Posted by boatman61

Always smile when folk in their 50's start talking about their 10yr plan.. the clocks ticking guys..
Get out there while you still can..

Hey now, I'm 47. The 10 year plan is the last resort plan, with one more kid to get in to college in 3 years. That leaves 7 years of no Catholic school tuition and paying off my portion of kids college, plus savings and the ability to start drawing from IRAs if need be. My income divided by 2 will be much faster savings than currently divided by 4.5 (counting my 22 year old as a 1/2 still.)

But I love the attitude. The clock is ticking. I had an uncle who 'retired early' at 57 and just started signs of MS. He passed away last week at age 64.

All the best,
FollowingCs

[FollowingCs]

Originally Posted by SV THIRD DAY

Since the absolute BEST way to learn what you want and need to cruise is to actually DO IT, I say go NOW with a cheap and simple boat...then use that time out cruising to learn what you REALLY want and need!

I've sold quite a few water makers to people in that "5yr plan" mode and then get a call from the new owner asking how to run the water maker. The 5 year plan turned into Cancer or other health issues and never happened!

Go Go Go....
If you love it...then use that experience to buy your Dream Boat, but until you have been out cruising....how do you even really know what "Dream" you have?

Good points. Can't go just yet with 1 still a sophomore in high school, Although I've shamelessly tried to talk her into completing her final years from the boat. Unfortunately I've raised 'responsible' kids (all 3 with names beginning with C if you wonder where my fictitious boat name comes from).

As for the health issues, that is my main concern. I just know too many people who didn't get much of a retirement.

All the best,
FollowingCs.

[SaltyMonkey]

The common quotient is 8x in savings of your final salary per year when you retire. So, if you were earning 100k per year when you retire, you need 800k.

Thats the classic rule, not necessarily the only rule.

In your case, since it doesn't sound like you have any experience in boats:

Get a cheap boat NOW. Not one you will cruise on.
Learn the ins and outs of boat ownership and cruising (short term).
Save $
5 years. 3 years is too soon obviously; 10 is impossible to plan for. Something will corrupt it.
Get rid of the test boat at some point and upgrade.

EDIT: 53% of people over 61 years of age have a chronic remainder of life disorder.