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Old 03-09-2008, 21:16   #76
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I really appreciate this topic and all this advice on budget/investment. As a practical matter- and I am a pinch-penny...how much per month is a fair estimate of expenses for 1 person, 1 simple boat, coastal-cruising?

Is 1000/mo enough?...I have about 150k house equity,
(and 60k in 401k -not to be touched)(age 45 now)

Like GZgunner, I want to see how far this can take me.
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Old 04-09-2008, 05:37   #77
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I got some mates in Nigeria, that apperantley have some many millions of dolllars they want offload overseas, due to some political problem or the death of some major arms dealer and they will return 10% of $50000000 for your bank account details.
Sounds like a bargain to me!!
account details sent

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Old 05-09-2008, 05:15   #78
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Sorry Guys, at the moment Australia is being inendated by scams from Nigeria, extremely professional in their presentaion and marketing, there have been some 10's of thousands of people ripped off over here, looking for the quick buck.
The way the thread was going in the way of making/saving a buck, I thoughty I would offer some Nigrien advice
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Old 05-09-2008, 09:32   #79
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Originally Posted by Don't Panic View Post
I really appreciate this topic and all this advice on budget/investment. As a practical matter- and I am a pinch-penny...how much per month is a fair estimate of expenses for 1 person, 1 simple boat, coastal-cruising?

Is 1000/mo enough?...I have about 150k house equity,
(and 60k in 401k -not to be touched)(age 45 now)

Like GZgunner, I want to see how far this can take me.
Seems to me that $1000/mo could be a reasonable coastal cruising budget, but only if you anchor out most of the time, prep your own meals, add solar and/or wind power to keep the batteries powered up, and do your own maintenance as much as possible.
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Old 05-09-2008, 13:17   #80
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Money

I believe that Lin and Larry Pardey said that it will take what ever you have. The smart @$$ in me says that it will take every thing plus 10%. You could do what they (L&L P)do and that is to sail for a while then work for a while. Just a thought.

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Old 05-09-2008, 15:50   #81
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Seems to me that $1000/mo could be a reasonable coastal cruising budget, but only if you anchor out most of the time, prep your own meals, add solar and/or wind power to keep the batteries powered up, and do your own maintenance as much as possible.
And Whats wrong with that? It sounds perfect to me
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Old 05-09-2008, 16:26   #82
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And Whats wrong with that? It sounds perfect to me
Nothing's wrong with it. Did I say or even imply that anything was wrong with it?
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Old 14-12-2008, 03:27   #83
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Agreed. The risk is to the downside with most of the other currencies
While I certainly don't think anyone is tracking this, nor do I think you should take unsolicited financial opinions, I do think the time is right to exit the position and take the 8% or so gain.
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Old 23-12-2008, 16:28   #84
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I already own the boat a 38 ft. how long could I sail for with another 140k in my pocket and a companon. Especialy if we are frugal, also where would the best places to frquent to make our money last. And I mean I dont want to come back anytime soon.......


Please help me I cant take much more and I am trying to make a decision if I need another year or 2 here. I am currently on the west coast California to be exact. I would much rather start in the east but I am hear the pacific has some beautiful locations too..

I keep trying to do some prelim calculations and they always end up wiht me back here in like 7 yrs broke. Also I would work along the way if possible, my sweetie is a massage therapist certified in all aspects would this be viable way for her to make a few bucks doing some relaxation messages on the boat etc???

Hope I am not being tooo vague
About doing massage on the road as a viable business... the answer is no. I'm a former therapist and I know that you will be up against different regulations anywhere you go. Most of the regulations will require some form of a waiting period, licensing, or proof of education. All of these things to run a legit massage business will slow you down. Now if you don't care about being legit...... then that's another story.

All in all, that is probably not the easiest way to make money if you are constantly switching borders.

We're working on creating internet related businesses to support our long term cruising ideas. Not sure how computer saavy you are but it is one option.
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Old 23-12-2008, 17:04   #85
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We left Long Beach CA in '84 with a plan to circumnavigate in 3 years, go home and go back to work. In 1998, we finally made it back to the US. We sold the boat and went back to work.

My point is, if you are handy, there are ways to make $ (I also would not suggest massage in foreign countries.....good way to end up in jail).

We built our own dodger when we were in Hawaii in 1990. We bought a SailRite sewing machine and their custom canvas book. Another cruiser saw our dodger and asked if we could build them one. Then we made a bunch of sail covers, winch covers and all sorts of custom canvas work. When we were in South Africa, we added parachute sea anchors to our menu. We couldn't make them fast enough to fill demand. We even worked on them at sea, during long passages.

I also did F/G work, diesel engine and refrigeration repair. It pays to be handy. The longer you cruise, the handier you will be. Trust me......it's all part of the deal.....unless you have more $ than you know what to do with.
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Old 23-12-2008, 18:41   #86
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If you can get 14% in Turkey but their currency inflation is 20%, then your return would be negative 6% before taxes. You better check their inflation rate and their tax rate first. Also, rates of return that seem too good to be true, probably are.
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Old 23-12-2008, 20:50   #87
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If you can get 14% in Turkey but their currency inflation is 20%, then your return would be negative 6% before taxes. You better check their inflation rate and their tax rate first. Also, rates of return that seem too good to be true, probably are.
This isn't quite right, David. The rate at which a country's central bank inflates its currency is, by itself, irrelevant. But you're on the right track in cautioning that a high rate of return is only part of the picture.

If an economy is growing by 20%, and the local central bank is increasing the local supply of money and credit at an identical 20%, that is a picture of a healthy, vibrant economy. In such circumstances, local prices should remain constant - neither rising nor falling. If, however, the local central bank is inflating the supply of money and credit at 20% while the local economy is growing at less than 20%, or even contracting - i.e. "growing" at a negative rate - that is a prescription for weakening against other, stronger, currencies, and local prices, ceteris paribus, will increase.

If an investor is from a country with a stronger currency and invests his strong capital in the sovereign debt of a country with a weaker currency, he has to believe that his stronger currency will not appreciate more than the rate of return offered on the weaker currency he is investing in over the term of his investment. Otherwise, his investment will create a loss in spite of the high yield.

Thus, a currency that is not the world's reserve currency must increase the interest it pays to attract investment in its sovereign debt as it begins to weaken or it will have few, if any, takers. While some local currency may pay 20% because it is weak, the market will discount its value against stronger currencies. As it devalues, it diminishes the attractiveness of its high interest rate, and when it devalues more than its yield, the net result is a loss.

So those who merely look at a list of nations paying the highest rates on their sovereigh debt before "investing" their capital, without at the same time studying and understanding the ramifications of the Forex (foreign exchange) differential over the period of the investment, are doomed to paying dearly for an expensive education.

If it were as simple as consulting such a list, we'd all be invested in the sovereign debt of Iceland.

The US$ is the world's reserve currency, so it isn't as cut-and-dried as in the example above. Still, if one considers the following numbers, it is quite sobering:

Two months ago, the US Fed's balance sheet - i.e. the total of all its assets and liabilities - was $850 billion. For the week ended December 17th, that had risen to $2.34 trillion, an increase of ~275% over the period, or ~1400%, annualized! Further, it was announced today that the US economy contracted by 0.5% in the third quarter.

Many who are aware of these numbers expect the US$ to devalue - i.e. fall against stronger currencies. The correct investment, in such circumstances, is to invest US$ in sovereign debt denominated in a currency that is expected to appreciate against the US$ over the term of the investment.

If you pick wisely, the greatest gain will come from being on the right side of the Forex differential. The interest paid on the stronger currency's sovereign debt over the period of the investment is just the icing on the cake!

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Old 23-12-2008, 22:17   #88
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While not as savy as some of you on investing, it seems to me that if you don't want to have to work again to save all that money, I would not be "investing" any of it in any scheme that would either:
make me crazy thinking about what was happening with it
be at the whim of some forign govrement or persons US law could not touch
promised large gains
or anything lke that.
Make sure you boat is paid off, all your equipement is in great shape, your anchor tackle, running and standing rigging, tankage, engine, all top notch. INVEST in spares. INVEST in food, as much as you can carry. Buy and store as much fuel as you can. be able to make power from wind and sun. Don't use marinas, forget about insurance. Have some basic medical insurance and a very well stocked med kit. Exercise to stay healthy, and eat less than you need to to keep your weight in check.
As far as your money is concerned. Put it in a Bank you trust, or spread it out to several.
Place most of it in short 6 month to 1 year cd's. Your money may not last as long, but it will not keep you up nights worring about it either. Using rental properties or other real estate investments may work for some, but I say stay away from that if you want to sleep well.
Get a good safe, secure it on your boat and keep a years supply of cash there. Purchase some gold eagles too. Have some kind of way to earn extra cash. Like sail repair, diesel or refrigeration repair, varnishing. Have your wife do massages to the cruising community for trade like food, fuel, maintaince work etc.
Living like that you should go for a while.
You can eat food, but you cant eat paper. And some investments turn out to be less that the paper it's printed on.

No one knows what the future will bring. Just keep it simple and you will do ok.
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Old 24-12-2008, 01:05   #89
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Get a good safe, secure it on your boat and keep a years supply of cash there. Purchase some gold eagles too.
No one knows what the future will bring. Just keep it simple and you will do ok.
why have cash? just use a visa debit card your money and you can use in anywhere in the world. if your boat sunk or bandits go on that's a lot to loose
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Old 24-12-2008, 16:09   #90
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Thats one very bold statement Maybe no boat or health insurance never useing a marina and liveing like a hobo or just haveing a short life might do it.
Worrying about having enough, when you have such a huge pile of money, is a sure way to a short life. If I won the lottery tomorrow, you'd have to pay me to tie up in a marina , given their long list of rules and regulations, and the catty soap operas that they tend to become, which could stress you to a shorter life. I've never had insurance while cruising offshore. I got my present boat sailing and was living aboard for $6,000, a small percentage of 140K, and a fraction of what it would have cost for insurance on my previous boats. They don't even insure us single handers , prefering to force you to put up with a couple of uneeded crew members, whether you want them aboard or not, spoiuling your trip. I could fly to Cuba for health care for less than some insurance schemes.
The one insurance claim I made ( with Travel Underwriters Worldwide Mediclaim) they refused to pay, which I've been told is common with them. I'd have no faith in promises on a piece of paper, and wouldn't give up a minute of cruising enjoyment for one.
I once did a job for a guy who ate in restaurants. After three weeks of restaurant food I was keen to get back to my own galley and know exactly what I was putting into myself. That cured the restaurant habit. It holds no attraction to me, certainly not worth spending more time on the treadmill to support it. Restaurant food is not worth giving up freedom for.
I often wake up in beautiful anchorages , and am always able to get out of bed whenever I damned well feel like it. That has mostly been the case since my mid 20's . I often , just for entertainment, turn the radio to the traffic report, just to see how"priveledged non hoboes "live. Then I turn the radio off, roll over , cut a big fart in their honour, and go back to sleep for another hour. Would I give this up , for insurance and a marina, and trade full time cruising for short term cruising, then a return to the treadmill? Not a chance.
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