What would you do? Go or No-Go?

[TigerPaws]

People always think there is going to more time and then something happens and you are left regretting what you were unable to do then you were able to.

Regrets are poison for the soul and tomorrow may never come. Yes be prudent, be careful and plan as best you can but follow your dreams and remember you owe the land (or anyone else for that matter) nothing.

I have known far too many people who have had something happen to them which forever changed their life. Others are no longer with us, so there is NO guarantee in life about anything.

Follow you dreams, if sailing is you passion (like me) and the sea is calling you then GO and follow that dream.

[Icarus]

Originally Posted by Magic1st

I think this may be my first post starting a new thread. I'll try and keep it short.

Life changing events occurred. After 20 years, i was let go/laid with my current company. I have been looking and dreaming of getting away and sailing off for a very very long time. At this point, I really don't have to work, other than to maintain my lifestyle (I travel for fun every couple of months and party like a rock start.. ).

The time may be right?

I'm early 40's, found the dream boat that i want. And, I can pay cash (at a premium due to cashing in some funds early). I own houses and apartments on the side, which I will keep. I have no debt other than one loan for apartment complex.

The numbers rounded for ease:

Age: early 40's
It will just be me (but will have crew occasionally).
Starting in the Caribbean where the sale will occur.
Cost of boat- 200k (loaded and ready to go and i will cash in some equities at a premium)
Boat 42ft
My monthly income 4k
Monthly debt (child support) ~ 800.

My issue is I will have little left for my personal oh shiz fund. Maybe 20k depending upon how it shakes out for closing/ transaction costs.
I will leave myself little for retirement other than houses/apartments that I will be taking a monthly income from. And about an additional 120k in IRAs.

Last kicker-- I will have zero healthcare.....

Real life scenario I am running in my head.....

What would you do?

I don't quite understand your question...
You say you have 4k monthly income, you can buy a boat for 200k,you have property and so on..
Looks like you haven't owned a boat / yacht before.
A 42ft yacht can be a challenge for an unexperienced person.
To find a crew can and is a pain, unless you are a peoples person.
Real life scenarios? Go and find out , not much point of dreaming up possibilities.
So what is it you want to hear?
Sailors love the wind, ocean, sky and the magic of what lies beond the horizon.
Bankers on the other hand love to count their possession.
Which one are you?

[sailingharry]

Two of the last three posts say the same thing -- "Go, money is unimportant, enjoy it while you can, don't worry about the future." Of course, TigerPaw in a Gunboat 55 is sailing a $1-2M boat, and theDangerz in a Bali 4.0 is sailing a $500K boat. I'm not sure that they are in a credible position to counsel a guy with $300K in the bank to jump off the cliff and not worry about a safety net. It's usually easier to scoff at money and material possessions when you have that part covered...

[donradcliffe]

One of my proteges started with $30k and a $1500/mo disability income. He had less than a year of sailing experience. He bought a 37 ft Beneteau for $23k, and has had the boat for 6 months. Started in near Boston, worked down the ICW to Fort Meyers, and is now in the Bahamas.

He is having a blast. He is no longer texting me every night for advice.

[captlloyd]

Originally Posted by sailingharry

Two of the last three posts say the same thing -- "Go, money is unimportant, enjoy it while you can, don't worry about the future." Of course, TigerPaw in a Gunboat 55 is sailing a $1-2M boat, and theDangerz in a Bali 4.0 is sailing a $500K boat. I'm not sure that they are in a credible position to counsel a guy with $300K in the bank to jump off the cliff and not worry about a safety net. It's usually easier to scoff at money and material possessions when you have that part covered...

Well that is one way to look at it. You can go on YouTube and watch a series called Sailing Zingaro and see a guy sailing all over the damn place on a 65,000 catamaran that he is repairing as he goes and having a ball. And he probably started out with less than a third of what the OP has. He is headed to Hawaii now after sailing all over the Caribbean, and yes, he usually has a couple of chicks as crew. He seems to have some kind of rotation going with a number of sweeties. I would love to see his reply to the idea that he didn’t have enough money and should have waited a few years, ha !

[alctel]

Go!

God you have so much money AND a passive income that's way over the average median income for a working person. I'd love to be in that situation! You can do anything!

Look at an older boat though at first. I got my 36' for 15k CAD and spent a few years working while living on it and upgrading and teaching myself to sail before sailing it down to Mexico from BC.

36 is plenty big enough for a single person imo.

There is zero reason to spend 200k on a boat for a newbie solo sailor unless you have very specific wants, and you should be able to get a usable, fun boat for well under 50k.

If you hate it after a year, sell the boat and do something else. With that passive income the world is your oyster!

[contrail]

The OP has heard every conceivable opinion and point of view. I think it's clear he should go. I did, so it makes sense to me, whilst I do understand the other side. But it's HIS decision, and if, will all this input, he can't make up his mind, then he probably won't be able to make the decisions he will need to make as part of cruising. In which case, he shouldn't go.


I suggest we all go quiet and let him make up his mind, and, HOPEFULLY, report back to us!

[Shammi]

The principal issue is not a technical one (cost, sailing experience, health care, etc., etc.).

Rather it is about following a dream and minimizing regrets.

This may be worth a read:

https://medium.com/@alyjuma/the-regr...s-4d5a86deaf24

And there is also this by Antoine de Saint-Exupéry:

"If you want to build a ship, don’t drum up the men and women to gather wood, divide the work, and give orders. Instead, teach them to yearn for the vast and endless sea."

[Icarus]

Whats the point asking people what to do? Go or not go..one halve says go..the other halve says don't.
Both sides have valid opinions, it just depends if you are an adventurer or an accountant.
One is free the other one is afraid of what life might bring, hence insecure.

[tackleandtax]

Echoing what a lot of others have said here but in summary:

Do it!

If your assets are providing a solid income, this is your "private health insurance"sorted.

If you don't want the stress/hassle of managing your real estate in years to come, switch those investments into REITs - so you still own property that pays income but someone else manages the day to day.

[skipspires]

You can get ready to go boat cheaper....but definitely go... you can always change your mind and go back to land life later. untie your lines and go... It's an unforgettable experience.
I was faced with that same decision 3 years ago I believe it was and I left on a 28' sailboat after 6 months decided I never wanted to go back to land life again and so I sold everything off except stocks and I bought a bigger more seaworthy boat and made upgrades and refits took about a year and left. I am a year into it and no regrets for me.

[boatman61]

Originally Posted by sailingharry

I wouldn't dream of doing it. But I'm a highly conservative person. I don't take chances, and I plan for the long game. Your numbers work fine, or can be made to work with a bit of sacrifice. And you're going to live a life I'd be jealous of, no question of it. I'm in the final approach (under 2 years to retirement) and I'll be doing it starting the year I turn 60, much older and tireder than you are -- but with a much more solid financial plan.



But as I said, I plan for the long game. So ask yourself this, looking forward to when you are 60 years old.
* Your kitty has run dry faster than you thought. You dust off your resume and shop it around. Will your skill set get you anything, or will you be competing for a minimum wage job at Wal Mart?

* Your boat, which was decent today, is 20 years older and been sailed hard. Is it still being "repaired" or is it time to sell for near nothing and spend another $200K to buy a replacement -- will you have it?
* You decide to sell it for near nothing and go ashore -- will you have the $500K to buy a house?
* You make it to 62, and finally get that Social Security check -- based on half a career of earnings. It's not going to be that great. And it's going to be based on earnings 20 years ago, so maybe even less.


If you die at age 55, out there having fun with $100K left in the bank, you'll make me look pretty stupid. But if you find yourself at age 85, broke and living in a 1BR apartment not able to take a vacation (is it a vacation if you aren't working? How about "take a trip?"), well, you may regret the decision to leave early. The problem with leaving early is that you don't have to plan for 30 years -- you have to plan for 50 years with no opportunity for a "do over" half way through.

You worry to much..
Yesterdays a memory..
Today is reality..
Tomorrows a fantasy..

[curtis742]

You haven't left yet? What are you waiting for? Pull the trigger and get her done. There are two kinds of people, those that talk sh@# and those that do sh@#. I just turned 60 and did it. Drop the sails and it's just another motor boat. It ain't rocket science. The wind blows and the boat goes. Get good nav equipment, radar and sonar and a Boat US towing policy. I left Savannah Georgia a month ago and am anchored in Key West leaving for Tampa in the morning. Go for it.

[letsgetsailing3]

The problem here, of course, wasn't the "go no-go" part.

It was the scenario introduced in the OP's post.

The approach proposed was overbudget for his scenario, whereas a well-chosen 50K boat might work better, and preserve the safety net he clearly needs. He appeared to be running away from some things as much as he was running towards something.

This was more of a "I need to get down from the 30th floor. Should I parachute or take the elevator? Both options will work, but maybe it's not the best time to take your first skydive. Take the elevator and preserve your options.

A little re-working of the problem would go a long ways towards a lower-risk approach.

[wingssail]

Originally Posted by thomm225

I can usually bounce my boat off the bottom to get it off a grounding (using the engine, waves, and wind) .....but I'd never attempt that with a lightly built, bolted on keel boat like yours because it would probably break

I'd stay away from the shallows on a boat like that

Also, don't take that boat too far offshore in bad weather because it has a low Bal/Disp ratio and could never roll backup after a severe knockdown

Thomm225, your prejudices are showing. You need to take off the blinders. I think that the Beneteau is a great little boat. Group Finot are superb designers. The bolt on fin keel is plenty strong (OK, maybe not as strong as yours but the ability to sail off a lee shore might mitigate that some) and the Bal/Disp does not really present a risk of staying down after a severe knockdown. We have similar numbers and while we've never had a "severe" knock down I've been on a boat like that which was, (beyond 90 degrees with after a spin broach) and it came up fine.

Now lets get back to the topic of this thread. Neither of these boats seem to me to be the right choice for the OP who wants to "Sail Away".