How much in the bank before setting sail ?

[hafa]

Originally Posted by MarkJ

Well, considering you and I are the only people on this forum who know where Yap is...

Just south of here, actually, I go there regularly, although we're more likely to sail to Satawal where there are kinfolk of folks in our sailing group.

In terms of medical expenses, get a high-deductable expatriate policy from Cigna. Very affordable. Go to Bomingrad or St. Lukes; no need to fly to the mainland.

After insurance, I'd want to have ~US$3k/mo to cruise on and a ~$US20k kitty for bigger repairs, should they be needed.

[Jim Cate]

Yap is often found at the front end of small dogs...

Jim

[hafa]

Originally Posted by Jim Cate

Yap is often found at the front end of small dogs...

Jim

Better the front, rather than the other end...

[Bean Counter]

Put $300,000 in the bank and wind it down on cruising costs over next 3-4 years. Have a couple of $50k limit credit cards for emergencies. Take out sailor's travel insurance that takes care of emergency air lifts, and other major issues. Keep your home country health insurance going in case you need to be flown home for treatment. Insure the boat for the max. As the fund shrinks you may want to top it up, but I would just rely on the emergency CCs in the last year and be on my way home anyway. This would be for a sail boat worth say $500k (at the start). If you have money left over, use it to tidy up the boat for sale.

[Pelagic]

Originally Posted by Jim Cate

Yap is often found at the front end of small dogs...

Jim

Dogs are pretty quiet in Micronesia Jim as they are traditionally on the menu at funerals and weddings

[ranchero76]

According to S/V Delos, they are comfortable with $500 per person per month - everything included (visas, food, entertainment etc). No medical insurance - just use local medical services.
Boat expenses - approx $10K per year for parts and very seldom haulouts. Most repairs and maintenance done by crew. $2K for fuel per year. Few $ for seldom marina fees (mostly on anchor).
From my point of view - these numbers are very adequate, that's how it should be done.
So it's about 35-40K per year for 4 persons, 10K per person. Of course, there should be one smart and savvy person onboard, strictly counting and controlling all expenses, no stupid spending etc.
Plus, I'd say - 50K-100K available for extreme emergency - on credit card or on bank account.

It's actually, very pleasant to watch how Delos solves problems locally. Fabricating new parts instead of buying stupidly overpriced "originals" from far-far away, using local medical services etc, etc. Especially keeping in mind that Brian didn't have much of knowledge in the beginning.

[hafa]

Originally Posted by Pelagic

Dogs are pretty quiet in Micronesia Jim as they are traditionally on the menu at funerals and weddings

That would be the PI, Korea and northern Thailand, not Micronesia, except for maybe parts of Chuuk. Folks around here would much rather enjoy a nice can of Spam.

[Pelagic]

Probably less popular now but in 80's used to see them all the time in Ponape (old spelling)

[chuckr]

We have not gone the way you are going but here is what it costs us -- my guess with your shore costs it will be a bit higher - then again it also depends on your boat and how much she needs to be put in condition and remain in good condition for the long sails

http://www.cruisersforum.com/forums/...ta-179783.html

[Winf]

Stay out of ports. As much as possible.

[Strait Shooter]

Originally Posted by Bean Counter

Put $300,000 in the bank and wind it down on cruising costs over next 3-4 years. Have a couple of $50k limit credit cards for emergencies. Take out sailor's travel insurance that takes care of emergency air lifts, and other major issues. Keep your home country health insurance going in case you need to be flown home for treatment. Insure the boat for the max. As the fund shrinks you may want to top it up, but I would just rely on the emergency CCs in the last year and be on my way home anyway. This would be for a sail boat worth say $500k (at the start). If you have money left over, use it to tidy up the boat for sale.

So what you're saying is, start with almost a million! (500k boat, 300k expenses)
Ya, because that's very realistic.
If you're a one percenter maybe.

[Sea Dreaming]

I've read many of the replies and I still think this is a "trick" question.
Marks suggestion to leave your money invested and only pull out what you need is a good one.

The funds you need will greatly depend on how simple you choose to make your lifestyle and how much work you are willing to do.

You said "this isn't about budget", but of course, the question IS about budgets.

My best answer is to think how much you might need and then add 50% to that number. It's shocking fast your carefully laid plans get off course, have enough money aside that you can adjust your plans to the situation.

For example: what happens if you can't go home to work for 3 months? Illness or injury might make that plan impossible for a year. Can you roll with that change of plan?

We are in SoC right now with simiilar "for a year" plans. We have various budgets for different things - general living expenses, boat maintenance, replacing rigging etc as needed, medical too. But we didn't plan for our truck to be stolen (it was) or having to replace all the gear we had just bought that was in the truck or having to buy another car to get back to our boat from Tucson. (We have a dog, we couldn't take the bus). But we do have some flexibility in our budget and that helps a lot. But the financial hit may mean we have to forego some other wants or plans (Panama canal).

Plan for the worst, expect the best and be flixible enough that changes don't ruin your trip.

[dwedeking2]

Originally Posted by Strait Shooter

So what you're saying is, start with almost a million! (500k boat, 300k expenses)
Ya, because that's very realistic.
If you're a one percenter maybe.

You forgot that fact you have to have income/credit score to have a couple extra $50k credit cards just laying around (I think mine are in the cracks of the couch, just spare change)...

[Celestialsailor]

Originally Posted by RokNRich

Assumptions -

2-5 year "sabbatical"
Boat is as ready as can be
Husband and wife + 1 young child
1 year in the Sea of Cortez, followed with a puddle jump and points east.

...and points east? Maybe spend some money on navigation course's.

[Bean Counter]

Some people sell their house, cars, cash in their superannuation and put together that sort money, we have met plenty of them sailing 40 - 50 ft cats in the Caribbean. The one percenters you refer to usually buy a new boat at 1.0m+ After 5 years of cruising they become 90% ers.