End Game

[tookish1]

We have been cruising once before (2 years with family). We are preparing to go again in 3 years - this time indefinitely. How do you plan for the inevitable end game - when the body gives out and the hook is swallowed. Does the boat fund your time in the old folks home? Our cruising budget won't go far towards long term care needs in the "real world".

What if I screw up and live to be really old - def don't want to be a burden to the kids...

Anybody else planning for final re-entry?

Capt. Jon

[TomandAnitas34]

Hey Jon,
I don't know where you are, or what you plan to set up, but getting off the water is harder than just jumping on the boat and going. There is a thread somewhere on the forums about this. I think it's titled "Exit Strategy" Just going without a return plan is more than a lot of people can process, myself included. I have managed to retain some assets,, land, a house, some savings, which I will keep back and not expend on the cruise. Paying the taxes and such will be a pain, but even if the government keeps on the path it is now, I should have some value in them. Not that there is enough. You should look for the other thread as there is huge amounts of thought and information there.

[TomandAnitas34]

Found the link

Exit Strategy - SailNet Community

[Hudson Force]

There's very little difference between the needed plans for dealing with age, infirmity, nursing care and death as a liveaboard-cruiser compared to those living in houses. We've been living aboard and cruising since 1972 and we estimate that we're good for another ten years on our sailboat and then possibly some more time on a "houseboat" style boat with less long distance cruising,- maybe just some river time. We researched long term care plans years ago and have been investing in our potential long term care for quite some time. We are now on medicare with a purchased supplemental health care plan with coverage that includes travel locations. Anybody, land or sea, can be unprepared. Most live aboards are accustomed to planning an self-reliance. If you're a successful cruiser, then you know how to plan. I just wish I had a spare parts locker for my aging body parts!

[JanetGroene]

From the relationship standpoint it's good to have mileposts where either of you can say it's time to quit. Times to re-evaluate might include: first really bad storm at sea, first serious illness, first budget-busting repair, etc. You could even make a list of these "mileposts" ahead of time and agree to discuss them afterwards from the standpoint of easing out before you start throwing crockery at least other. We once gave friends a going-away gift of a case of wine with a "milepost" attached to each bottle. They made it all away around the world but we never heard at what point the wine was used up.

[tbodine88]

I had a friend in Antigua who had sailed around the carribbean for years, she and her husband had sailed across from England in the sixties.

They ran a charter company for a few years in and around Antigua. Then they bought a house in Antigua, back when you could get one for $15K.

After their kids went away, they kind of moved out to the house, but kept the boat. She only sold the boat when her husband died and her arthuritis made it to difficult to climb aboard. So now she sits in her nice home on a bay in Antigua where the weather is warm, wishing for visitors.

[tookish1]

We have two small rental houses that will help fund our cruising. We can move back into one when we are finished. We are specifically focusing on boats that hold their value since that money plus Medicare will have to get us through.
And our kids have an extra bedroom.....so my wife will have someplace to stay
Jon

[TomandAnitas34]

Boats don't hold value. Ever.

[ksanders]

Depending on the type of boat you have old age may be much more difficult or not really different than being on land.

I've seen several pretty old people as liveaboards, generally on larger older trawlers.

Unless you have significant other investments buying a dirt based home late in life is probably not possible. That kind of thing takes decades of mortgage payments.

I see the exit strategy as a nice liveaboard berth in a sunny reasonably priced area.

[tookish1]

I like that idea - can't imagine never wanting to be near the water anyway. No property taxes, minimal utility expense...i guess as long as there was a mobile pump out service - don't want to be the 85 year old guy trying to make it up the ramp in time if the holding tanks are full!