Our humble plan

[broken2bfree]

About me:
I am a 48 year old IS Director at a local hospital. I work 7 days a week, almost every week of the year. I am constantly stressed at work, and want to retire before I get too old to enjoy being active. My wife is quite a bit younger than me, by 20 years, but we share many of the same intrest, and we have an excellant relationship. We are not fans of people, and we like our privacy and space. My wife and I love to fish, and try to get to the coast at every oppertunity. I have never stepped foot on a sail boat.
The Old Plan:
Our origional plan was to sell the house and buy acreage to start a self sustaining farm (the wife loves animals). While researching being a land owner, I realized that the cost would never stop growing. It seems un-sustainable in a retirement situation. You can never truely own property, you will always be paying ever increasing property taxes. With all that in mind, I switched to researching cruising. I was hooked after just a couple of hours of reading on the internet. The life style is so appealing and I was astonished at how low cost the liveaboard lifstyle could be.
The Current Plan:
My 2015 resolution is to become debt free as soon as possible. We have a couple of new vehicles that wont payoff for four more years. I'll need to double up on payments and cut that in half. We have started the process of eliminating unnecessities from our life. We have 6 trash bags of clothes and shoes to be donated to a local church. I have been culling through belongings for weeks. I read that it took a long time to unload a life time's worth of belongings.
The Future Plan:
When the cars are paid for and the house is sold, we are looking at relocating to Cape Coral FL. With a small nest egg in hand, I want to find a job (in my field), and a 30 foot plus boat. I have only a few boats in mind, and I am sure my preference is arguable. My first choice (as any newbie) would be the 2000 model lagoon 340 cat. I've looked
at many of these and am quite sure I can get a decent one around 75k. My second choice would be the Beneteau 1990 to 2000 model at around 50k to 75k. The cost of a wet slip in the area would run about $600 a month with electric. Slip fees combined with a boat payment, and our cost of living will be cut in half. The new goal will become refitting the boat and getting it paid off. The monthly cost of sailing varies among bloggers. I've read that costs can be as little as $500 a month and as much as $2000. $1200 seems about right to me, so that is the goal. My best guess is 12 months of
savings equals 12 months of sailing. Five years of slaving away in Cape Coral, and I hope to have the boat paid for and five years of sailing funded. By the time we start sailing I should be very close to receiving social security (provided it still exist) which I hope will carry me thru.
BVI by 2025

[sailorboy1]

Have you sailed much?

[tdominic_97]

Welcome and good luck. No matter what happens down the road, reducing your debt and eliminating things you don't need will make your life easier. The ability to set bi-weekly or weekly automatic payments to investment accounts really gets the kitty purring. Keep us informed of your progress.

[letsgetsailing3]

Originally Posted by broken2bfree

About me:

I have never stepped foot on a sail boat.

The Old Plan:
Our origional plan was to sell the house and buy acreage to start a self sustaining farm (the wife loves animals). While researching being a land owner, I realized that the cost would never stop growing. It seems un-sustainable in a retirement situation. You can never truely own property, you will always be paying ever increasing property taxes. With all that in mind, I switched to researching cruising. I was hooked after just a couple of hours of reading on the internet. The life style is so appealing and I was astonished at how low cost the liveaboard lifstyle could be.

The Current Plan:
My 2015 resolution is to become debt free as soon as possible. We have a couple of new vehicles that wont payoff for four more years. I'll need to double up on payments and cut that in half. We have started the process of eliminating unnecessities from our life.

I applaud your cost-cutting measures, but if you think that boat ownership is really low cost, you're missing the concept that it's only low cost if you completely skip all concept of creature comfort. You also can do this on land, but there will always be some costs that you can't control.

The troubling bit is that you've never stepped foot on a sailboat. The desire to cut costs should not be the sole driver of this decision, as you may decide you don't like it.

[broken2bfree]

Originally Posted by sailorboy1

Have you sailed much?

I have never stepped foot on a sail boat.

[broken2bfree]

Originally Posted by letsgetsailing3

I applaud your cost-cutting measures, but if you think that boat ownership is really low cost, you're missing the concept that it's only low cost if you completely skip all concept of creature comfort. You also can do this on land, but there will always be some costs that you can't control.

The troubling bit is that you've never stepped foot on a sailboat. The desire to cut costs should not be the sole driver of this decision, as you may decide you don't like it.

Thank You,
Our sole purpose is to get away. We have taken into account that we may not like sailing and are planning an excursing next season. I highly doubt it will be an issue as we both enjoy the water, and have been on motor boats (large and small).

[nimblemotors]

Look pretty stress-free to me, no boat required..



When you tire of that no-stress, move to this no-stress place.



Oh forget all that water, maybe some canyons would be nice for a change of scenery.

[broken2bfree]

I should mention the purpose of this post is for reality check. We hope to execute the best plan and not necessary an original plan. We appreciate all feedback!

[letsgetsailing3]

Suzie Orman would not approve - she'd insist on a lot bigger nest egg than you're projecting, and a lot more experience with boating. You're projecting a shoe-string existence in the long-term, and that's the BEST case. You just got two new cars? You're going the wrong way.

I'd start with a smaller boat, so you can get an idea of what this idea is really going to cost, and also if you are going to like it. Bigger boats can get really expensive in a hurry, and you'll be needing a Plan B in case you change your mind. Your wife is likely to outlast you, so she'll be needing some long-term security in cash, not just your projected social security payments and residual boat value.

Everything will be more expensive than you think. Plan for the long term. At least you have a direction, though, and that's a start.

[haw1961]

Have you ever been to Cape Coral ? What makes you think that by moving there you will be getting away from it all. Life is not what you read on the internet. I have lived in Cape Coral and believe me it's not the Keys.

[broken2bfree]

Originally Posted by haw1961

Have you ever been to Cape Coral ? What makes you think that by moving there you will be getting away from it all. Life is not what you read on the internet. I have lived in Cape Coral and believe me it's not the Keys.

This will be for work, not to get away.

[Cheechako]

I see nothing wrong with your plan. A plan is just a plan, be flexible and reality will be good too.

[broken2bfree]

Originally Posted by Cheechako

I see nothing wrong with your plan. A plan is just a plan, be flexible and reality will be good too.

Thank You.

[broken2bfree]

Originally Posted by nimblemotors

Look pretty stress-free to me, no boat required..



When you tire of that no-stress, move to this no-stress place.



Oh forget all that water, maybe some canyons would be nice for a change of scenery.

We were on the RV idea for a while. Less appealing to my wife then to me. But kind of hard to get to Bermuda in one of those

[sailorboy1]

Originally Posted by broken2bfree

I have never stepped foot on a sail boat.

7 years ago I was in the same position. My recommendation is to stop thinking about boats etc and just go sailing. Bound to be a member near you who would take you out. Otherwise just find a way to crew etc.

I guarantee that whatever boat you currently think you need/want, it is wrong and you wouldn't have any idea till you have sailed a while.

If someone would have stressed the above to me I would be $20k closer to leaving.