How would you spend $1millon - with a twist

[StuM]

Originally Posted by Van Der Beek

Different type of names, why? Because different types of vessels. Not more complicated than that.

Example: A raft with a sail doesn't become a sailing boat/sailing yacht because it uses a sail, it becomes a sailing raft. It is a different kind of vessel. What all these different vessels have in common is that they use a sail.

And no, making the distinction between these different types of vessels is neither incorrect or trolling.

Edit.
We also have different motor vehicles, and we make distinctions between those too.

So according to your stated logic, a raft is not a boat, nor is a catamaran?

[rognvald]

"A million isn't a whole lot of money if you plan to quit work and sail away." hpeer


This, in my opinion, is a patently absurd statement. Unless you're frequenting the casinos in Monaco, sailing a $500K plus boat and paying for your maintenance and upkeep while living in posh marinas to have access to five-star restaurants, one could easily retire comfortably with a million in cash in your late forties/fifties aboard a well-found $250K vessel or LESS and never have to worry about money again. Intelligent people who have accumulated considerable wealth( 1 million cash) have done so with skill, foresight and a plan . . . barring any unforeseen calamities. Why would these skills disappear once you are "retired?" There are some on this Forum who have accomplished incredible journeys with small boats on a limited budget where the value of the experience was far more important than an Apple Vacation concept of cruising. And, there are dreamers on this Forum who continue to rationalize why they CAN'T go cruising because they don't have the right boat, enough money, or a myriad of other excuses. To embrace the above quote is to justify the false premise why you can't go cruising. As someone who personally took a ten-year hiatus in my life at the age of forty-five when most were caught in the spirit-killing rat race, I can assure you that there are a million excuses for those who need them why they can't fulfill their dreams. And, if you're in your fifties or sixties and want to retire for your dream cruise, you don't need anywhere near a million to accomplish your goals. Go now. Better yet, go young. Live your dream. "A million isn't a lot of money??? . . . " Give me a break! Capt. Rognvald--avoiding the herd at all costs.

[belizesailor]

Originally Posted by rognvald

"A million isn't a whole lot of money if you plan to quit work and sail away." hpeer


This, in my opinion, is a patently absurd statement. Unless you're frequenting the casinos in Monaco, sailing a $500K plus boat and paying for your maintenance and upkeep while living in posh marinas to have access to five-star restaurants, one could easily retire comfortably with a million in cash in your late forties/fifties aboard a well-found $250K vessel or LESS and never have to worry about money again. Intelligent people who have accumulated considerable wealth( 1 million cash) have done so with skill, foresight and a plan . . . barring any unforeseen calamities. Why would these skills disappear once you are "retired?" There are some on this Forum who have accomplished incredible journeys with small boats on a limited budget where the value of the experience was far more important than an Apple Vacation concept of cruising. And, there are dreamers on this Forum who continue to rationalize why they CAN'T go cruising because they don't have the right boat, enough money, or a myriad of other excuses. To embrace the above quote is to justify the false premise why you can't go cruising. As someone who personally took a ten-year hiatus in my life at the age of forty-five when most were caught in the spirit-killing rat race, I can assure you that there are a million excuses for those who need them why they can't fulfill their dreams. And, if you're in your fifties or sixties and want to retire for your dream cruise, you don't need anywhere near a million to accomplish your goals. Go now. Better yet, go young. Live your dream. "A million isn't a lot of money??? . . . " Give me a break! Capt. Rognvald--avoiding the herd at all costs.

In the big scheme of things $1M really isnt a lot of money, but certainly viable for cruising if you dont waste a stupid amount of it on a depreciating asset like a boat.

Every $100K you have left is $5K/year income at 5%...so a sustainable level of income without eroding all your capital over time...capital disappears disturbingly fast when you live of it directly.

[rognvald]

"In the big scheme of things $1M really isnt a lot of money, but certainly viable for cruising if you dont waste a stupid amount of it on a depreciating asset like a boat." Belizesailor


That's correct, B. But in the context of cruising, it is patently absurd for someone to believe that 1 million is not sufficient to buy a good boat and go cruising as long as they are physically able . . . especially in their fifties or sixties. With my original numbers at: $250K for a boat(a quality vessel can be purchased and equipped for under $100K in my opinion*), and $3K a month for the next twenty years(no investment interest strategy, strictly depletion) you could cruise until you're 85 before your money is gone and would still have your Social Security($2300. or higher a month for a previous high-income producer) which would not be included/factored in your previous $3K a month draw. The problem is that many cruisers want to keep their home, cars, and land-based roots so their emotionally deprived wives have easy access to children/grandchildren fixes and there's the rub. Now, one million may not be enough in the long term where property taxes, utilities, upkeep are added to the monthly cruising budget depending on your lifestyle. Possessions are seductive. They give some people a false sense of security/comfort but, like most things in life, are transitory. Pulling the plug and releasing your material possessions is a difficult thing for most people. Especially when distant shores and unknown waters is your ultimate goal. In life there are no excuses. It is only what you do and what you don't do that define you as a person. Good luck and safe sailing.

[Zven]

Ah, I think...
It all depends how much you need, to feel comfortable.
For many people, a quality lifestyle can be had with a $100k boat. A tiny solar panel runs the single light bulb, and running water is a surprise benefit :-)
For others, it takes a $500k boat, air con and all modern appliances to feel reasonably happy.
Yet for others, it's not going to feel right unless the boat has a pool, butler and a helipad...
Hence, the $1 million would easily last a lifetime for a certain percentage of sailors... yet perhaps not for some others.
I think there is a saying about this .. "Different strokes for different folks"...?
Or something to that effect :-)

[hpeer]

Rog,

While you may feel my comment absurd it really isnt. Sure a million may work for a lot of folks, it surely not for all. Take a guy with a wife and 2 kids living in the USA. The mill has to buy the boat and provide income. He has to pay taxes, and maintain health insurance which will cost at least a few hundred per month. Then there is insurance on the boat. Most likely he will be home schooling and will require some internet connection to meet requirements. All this overhead adds up.

So sure, you can describe situations where a million works, that was not the point I was trying to make. I can likewise com up with many scenarios where a million bucks won't do it. Various medical problems can kill that dean in a heartbeat, not because of the condition, but because of treament and/or drug requirements. And what does a million throw off nowadays anyway? Guaranteed income? Maybe 3%? Or $30,000/year.

If you can show me a way where a million is enough for everyone who wants to sail then I'll listen.

[sailorboy1]

I don't know what $1M is like, but $0.5M after buying the boat for a 57 year old couple isn't the highlife!!!!

[a64pilot]

Well, my take is it will take seven figures or an equal value retirement to cruise for an indeterminate amount of time as in decades.
Most all you guys figure I guess on passing away at sea?
No, likely your coming back aground for awhile, and you need to plan for that eventuality, then there is taxes to go along with that death.
I think you can buy and outfit a nice boat for less than $200K, maybe much less.
Yes you can spend much more, but do you "need" to, or will you be better off with that money in the bank so to speak?