I'll be honest... If the OP is anything like me, he is immensely curious about correlating career choices with boat type, make, model, affordability. So heres my CSV. Some would consider it uncouth to mention finances, but I consider my life an open book, and if it helps someone else to gage their situation with thier own goal, then im happy to help. (fyi. i dont expect anyone else to return this level of information about themselves).
- Took a year off after getting my BS in Electrical Engineering to play in a band. LOL. Worked as part time painter for father in law.
- Worked 1 year as a drafter for emergency
vehicle startup ($25k/year)
- Promoted to electrical system designer
apprentice ($50k) 1 year
- Promoted to electrical system
($50k) 1 year.
- Left company. No future in that industry.
- Worked as manufacturing engineer
for major military defense contractor making target acquisition systems ($55k) (2 years)
- Promoted to Manufacturing/Test engineer
for missile defense systems ($65k) (2 years)
- Caught the wunderlust. Started taking debt seriously. Started going to boat shows.
- Transferred to Test Engineer for targeting/optics system for new fixed wing aircraft ($68k) (2 years to present)
* Currently 33 with wife and toddler (3).
* Crohns disease for 15 years. Lost
1.5 ft of guts at 18. Learned to live without meds since '07.
* Wife is an industrial engineer with same company making equivalent pay.
* Paid our student loans off end of 2011.
* Home mortgage at 1/2 way mark ($78k left)
* Own residential investment property (2.6A). Currently owe $90k on it.
* No car or credit card debt.
* Currently using the debt snowball method. Putting at least $20k of additional principal on all debt each year.
* Keep minimal amount in savings (<$10k). All extta income
goes to debt.
+ Pay off all debts. Projected debt free date with snowball calculator = 2018 at the latest if i cant find a buyer for investment property. If yes, then 2014.
+ Look for a used ~38" cat (lagoon 380 ideally) that can be cruise-ready for $120k
+ Cash in on investment property and savings to fund purchase
+ Rent house to my almost retired parents as cruising fund.
+ Take 1 year LOA
from work. Take wife and daughter (she should be 8-11 by then) on a 1-year caribbean
trip to test the long-time cruising waters, so to speak.
+ ??? who knows ???
+ OPTIONAL: Hand off boat to ex-mil, adventurous, equally successful single
brother who has a ton of leave built up.