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Lostmt · 05-09-2006, 08:34

It's nice to see that some do agree with me on some points. Not often that anyone agrees with me. LOL

It is a shame that we (U.S) are such a soft country with little to no hardships. We need to be entertained all the time.

Life will be fuller if you don't sweat the small stuff.

Cookie's Cutter · 05-09-2006, 08:59

My husband and I are preparing our boat for an extended cruise through the Caribbean and beyond. Since we have jobs, at least for the next 4 months, we are outfitting our vessel with the "must haves" and the "wants". The "must haves" are items we feel are necessary for our safety and well being, while the "wants" are items we would like to have if there is still money left after all the "must haves" are purchased. We have worked very hard and saved as much as we could to buy the boat outright and still have funds available to outfit her. As I have mentioned in earlier posts, once we untie our docklines and head out in January, we will be on a very limited budget, having quit our jobs well before retirement age and the benefits of social security. I agree with Dunkers and we look forward to dropping the hook and reading, or exploring the countryside or whatever - and these things we view as luxuries even though they won't cost any money (other than customs and such).

Right now my commute to work every day is 1+ hr. each way in heavy traffic. The only thing that keeps me sane and from not feeling like I could drive my car off an overpass is knowing that in a few months we will be free from the constraints we are now enduring. We learn to adjust our cost of living and way of life based on the amount of money we bring in. Since we will be bringing in far less money come January, we are prepared to adjust our cost of living and are happy and excited to do so.

I realize that many folks don't want to begin their journey until they feel they have more than adequate funds to leave, and that is perfectly fine as that is their choice. We realized that life is short and very precious, so if our dream is to leave the concrete world behind and sail away, we want to do it sooner than later. Although tomorrow is just a day away, for some it may never come. We don't want to miss out on tomorrow for the sake of more todays.

When it comes right down to it, only you know what makes it right for you and when it is right for you.

Sorry if I rambled, but we are so close and I can just about reach out and grab it now.

Safe sailing to all,
Janet

Kokomo36 · 30-09-2006, 03:46

We've been cruising for 2 1/2 yeasr and track expenses carefully. There are many variables that only apply to your situation. However, our "normal" living expenses are just under $1,000/month on average. We budget another $300 for fuel & dockage. The $1000 includes groceries, meds, eating out about 3 times/week, movies, DVD's, admissions, household goods. It doesn't include insurance, maintenance, gifts or air fare/car rental, etc. We could do on less, but we like this level of comfort...

coaster · 30-09-2006, 04:38

From my experience as a live aboard for over 5 years:
Slip fees are my largest expence. I enjoy have the conveniences as I also have a full time job. Food comes next and then insurance. After that, everything goes to the boat or the bank.

naysmitj · 30-09-2006, 07:47

The October edition of Cruising World has an article on Cruising Budgets that work with some examples and as well has an article with advice on moving to the life aboard.

Islandmike · 14-11-2006, 03:52

Janet,

My wife and I are doing basically the same thing, I will be leaving a very well paying job for the benefit of leaving on our extended cruise before we are really able to retire or collect SS. Life is short and is certainly a precious thing. We will have some funds, however, we will have to closely watch are spending, and I mean closely, but my wife is a master at that. We are still working on the boat, I plan on leaving my job next fall and leaving in early 08. It is scary and many people think we are nuts, and they may be correct.... but it is our dream.

Great post and we wish you the best.

Cookie's Cutter · 14-11-2006, 07:01

Hi Mike - how exciting for you and Paula. She and I probably have much in common - I can make our funds stretch a long way and keep a tight grasp on them as well. I had posted that we would be leaving in January but our 6th grandchild will be born in March so we will leave shortly after the birth. What's 2 months in the grand scheme of things?

We have found that most people (non-cruisers) don't believe we will actually leave, some think we are crazy, while others are in awe as they have never met anyone who has attempted this lifestyle and wish to live vicariously through us, requesting every detail of the plan/dream. I have promised our family and friends that I will set up a web page and post our logs so I really must begin that process soon.

The next year for you both will also be an adventure as you get closer to your departure date and prepare Tivoli for the voyage. We have met so many wonderful people this past year who understand our goal and offer suggestions and encouragement (not that we need to be encouraged) because they are also preparing or have been there already.

Good luck to you and safe sailing,
Janet

muskoka · 29-01-2007, 03:18

Interesting poll - it seems that 70% of the cruisers are on less than $3K per month and the median seems to be $20-25K per annum. I'm guessing most crews are couples (or at least the average of all crew sizes is two!)? And I'd guess the average cruisers boat is probably worth about 3X their annual cruising budget?

Cheers.

ess105 · 29-01-2007, 10:23

Interesting guesses. What do you think about a few more polls to make these real. I can think of a few that would interest me :

1) Boat Value as a multiple of annual cruising budget
2) Boat Value as a percentage of net worth
3) Cost of annual maintenance as a percentage of current boat value
4) Cost of annual maintenance as a percentage of replacement boat value

These metrics give a different perspective on key financial aspects. If there's interest in these it's worth setting them all up simulataneously so we can capture the same set of individuals as inputs. If we go this route, are there any other metrics that anyone think useful?

David_Old_Jersey · 29-01-2007, 10:40

Quote:

Originally Posted by ess105

Interesting guesses. What do you think about a few more polls to make these real. I can think of a few that would interest me :

1) Boat Value as a multiple of annual cruising budget
2) Boat Value as a percentage of net worth
3) Cost of annual maintenance as a percentage of current boat value
4) Cost of annual maintenance as a percentage of replacement boat value

These metrics give a different perspective on key financial aspects. If there's interest in these it's worth setting them all up simulataneously so we can capture the same set of individuals as inputs. If we go this route, are there any other metrics that anyone think useful?

Interesting idea.

dana-tenacity · 29-01-2007, 12:32

Do it, I'm interested, it was running out of money moved us ashore after 10 yrs

ess105 · 29-01-2007, 12:38

Ok - I'll set these up this evening. I'll add a couple of extra questions too :

5) What rate of return are you anticipating on your savings?
6) What will you take from your nest egg? a) interest less inflation, b) interest only, c) interest and principal

David_Old_Jersey · 29-01-2007, 12:44

Not sure how it would fit into the questions, but what about something along the lines of: how long have you been away for? / how long do you intend to be away for?