Ok so to answer some of the questions..
1. No we haven't spent a significant amount of time on the hook.. but.. We have spoke with and followed the blogs of a number of cruising families (currently cruising, not past cruising). 95% may be high, but our plan is to anchor
as much as possible. Entertainment will be our family and watching the kids enjoy the wonders.
2. We are %100 confident that 175K can get a cruising ready cat (38-42ft, mid to late 90s). Why are we so confident? We personally know 2 people who have done just that within the last year.
3. Our monthly budget is based on other "kid boats" we have spoke with. Yes we realize that we won't be able to enjoy some things, but feel the experience is worth the sacrifice. At the end of 5 years, only one of our children
will be in their early teens, so food costs shouldn't be impacted to much.
4. As to home schooling.. We happen to live in a country that has some pretty great rules about home schooling. We don't need to follow an official curriculum and are allowed to make up our own. Our immediate family has multiple teachers that will be helping us create a solid foundational curriculum. The government
offers "check up" counselors that you call every few months and they assess and help adjust your material.
5. Contingency... Well I wasn't completely honest in my original post. We do have a safety
net on top of our nest egg. The safety
net was intended to be used for unforseen circumstances (e.g. The housing market completely collapses again and our property is worth 1/2 or less). We could dip into this pot if required.
Finally.. I do plan to try and earn some money
while we are out, but I'm not counting on that. I have a few skills (electronics repair, stainless welding) that are in demand by cruisers, but I know that will be more of barter type work (i.e. trade
for a bottle of rum). I'm also lining up some remote
work in software
development, but frankly I'm not sure I want to do it. I'm afraid it will ruin the experience.