Frustrated. Ready but not Quite, and did I Mention Frustrated?

[S/V Alchemy]

Originally Posted by Gypsy_Soul

BEWARE::: a personal venting session in 3...2....1...

We have spent the last couple of years dreaming of being liveaboards. Unfortunately, our income was really low until my part time work finally paid off into a much higher paying full time gig about 7 months ago. With 3 kids, a dog, a cat a well as hubby and I, the money was always incredibly tight until my promotion. This last 7 months has been us working on paying down old debts. I'm happy with the progress we made, BUT....

We pay 1150/month in rent. Yes, rent. Not something we own, but rather someone else's home. In all fairness, they did give us an option to buy it recently and we turned it down. We don't want a house. We want a boat. So, here we are. We only have a little over $1000 in savings. No real property, we drive reliable but older used cars. (we decided no car payments). Even if we sold everything except our personals we would maybe come up with about $6000.

We could transfer our jobs down by Orlando where we could both keep our positions and work while being on the coast. It's just the initial expense of the d*mn boat. I just can't help but feel that the money we are throwing at other people could be of better use by targeting it specifically to what it should be.....our lives...our dreams. My expectations aren't much. Something that doesn't leak and has enough space for 6 bodies to sleep. (the dog demands her own pillow). Everything else will come with time, money, a little elbow grease and some learning curves.

How in the world did you guys make the leap? Did you have a big lump of cash hidden in your mattresses?

::sigh::

No. I paid off our house in seven and half years by not owning a car, not having cable TV, not taking vacations and by having tenants in the best part (read: most income producing). When the house was paid off, we remortgaged it a second time (not a second mortgage...big difference) and found that the rise in house prices (not applicable in Florida, alas, and where your rent seems laughably low) was sufficient to take only a 40% "equity mortgage". Thus we "captured" the equity on the upswing. The tenants pay this mortgage down as well, about $1,325/month.

We bought a 41 footer outright in 2006, sailed it for two years and then spent a few seasons on the hard while I painfully acquired (and am still acquiring) the skills needed to refit it for world travel. We launched last spring and should be heading out in 2015 when my kid finishes Grade Eight.

I put my wife through teachers' college a couple of years back so she can "boat-school" him for the five years we hope to be out there.

It's hard. You have to stay focused and you have to consider the calendar only the barest suggestion of how long things will take. You will have obstacles, but in my mind, the biggest obstacle is succumbing to the conformity of "stuff" that ties one to land, and buying into the time-sucks of TV and (frankly) spending too many hours on dumb smartphones and online.

Which is funny, as I clearly have spent a lot of hours on my boat blog...but that's a form of cheap therapy.

Hang in there, crew on race boats, do deliveries, take courses and adjust expectations (usually downward, where the water is). Boats have never been cheaper. It's people that remain expensive.

[Hudson Force]

The OP, Gypsy Soul, has not posted here for over a year. The topic is always interesting, but they might not still be "on task".

[skipmac]

Originally Posted by CaptForce

The OP, Gypsy Soul, has not posted here for over a year. The topic is always interesting, but they might not still be "on task".

Well in this case the OP might still be around and still dreaming. She did log into the forum in April.

Unlike some similar first posts where the person has dreamed of sailing his/her entire life, leaving the rat race, buying a boat next week, taking ASA classes, on and on, then never post or log onto the forum again.

Don't have an exact count but would bet max 10% of these "I have a dream" posts stick around for more than a week. Hope Gypsy Soul can achieve her dream.

[detav007]

I signed onto this forum years ago and log in infrequently. I still have this dream and I hope they achieve theirs. I'm on the "retirement" plan for living on a boat and sailing. I'll get there one day....

[S/V Alchemy]

Originally Posted by CaptForce

The OP, Gypsy Soul, has not posted here for over a year. The topic is always interesting, but they might not still be "on task".

Ah, yes...that's an occupational hazard here. Usually, I check my powder before firing...

[skipmac]

Originally Posted by detav007

I signed onto this forum years ago and log in infrequently. I still have this dream and I hope they achieve theirs. I'm on the "retirement" plan for living on a boat and sailing. I'll get there one day....

That's me. On the retirement plan. Thinking two more years and I'm floating off into the sunrise (heading east, not west)

[Gypsy_Soul]

Just letting everyone know that I am still here and dreaming! I'm happy to say that we made it out of Ohio the first of December. We literally sold off and donated almost everything except 1 car, our clothes, a few personal things (pictures and such) and we all had 1 tote each to keep what we wanted. 2 adults, 3 kids, 1 dog and 1 cat for 3 days in a car pulling a 4x8 trailer landed us on the central California Coast. I was able to transfer my job but hubby wasn't.

I will admit that we gambled on this move with only one of us having a job coming out here but things are finally starting to level out. We don't regret it. The kids adjusted quicker than we did and they have been happy here. I spend a few days a week on the beach or walking along the docks staring out at the beautiful sails. ::sigh::

One step at a time but we are still in this together. I appreciate the advice that is still coming in. Going back and re-reading this thread was enough to make me smile and remember why we came out here on a day that I feel like I worked to exhaustion. Thank you for reviving this, I needed it today. : )

[skipmac]

Originally Posted by Gypsy_Soul

Just letting everyone know that I am still here and dreaming! I'm happy to say that we made it out of Ohio the first of December. We literally sold off and donated almost everything except 1 car, our clothes, a few personal things (pictures and such) and we all had 1 tote each to keep what we wanted. 2 adults, 3 kids, 1 dog and 1 cat for 3 days in a car pulling a 4x8 trailer landed us on the central California Coast. I was able to transfer my job but hubby wasn't.

I will admit that we gambled on this move with only one of us having a job coming out here but things are finally starting to level out. We don't regret it. The kids adjusted quicker than we did and they have been happy here. I spend a few days a week on the beach or walking along the docks staring out at the beautiful sails. ::sigh::

One step at a time but we are still in this together. I appreciate the advice that is still coming in. Going back and re-reading this thread was enough to make me smile and remember why we came out here on a day that I feel like I worked to exhaustion. Thank you for reviving this, I needed it today. : )

Congratulations on taking the first step. If cruising is truly your dream don't get discouraged. It may take some time but keep on. I was lucky that I got to spend 10 years cruising when I was younger. Was frequently flat broke but managed to maintain. Finally went back to the rat race but never could give up the dream and thirty years later I'm about ready to go again.

[detav007]

Originally Posted by skipmac

That's me. On the retirement plan. Thinking two more years and I'm floating off into the sunrise (heading east, not west)

Good luck with that skipmac, I'm on the 15 year plan unless we can speed things up once our daughters are finished with college. One's starting her sophomore year this fall and the other is starting the 9th grade this fall so we have a few "high expense" years.

[skipmac]

Originally Posted by detav007

Good luck with that skipmac, I'm on the 15 year plan unless we can speed things up once our daughters are finished with college. One's starting her sophomore year this fall and the other is starting the 9th grade this fall so we have a few "high expense" years.

And good luck to you. My one daughter is long gone so that expense is out of the way. Always wanted more than one rugrat in the family but after putting one through college and regaining the freedom to travel without scheduling for school holidays I could see some advantages to having just one.

Love and miss our daughter but at the same time no empty nest syndrome here.

[letsgetsailing3]

OK, someone has to be Suzie Orman here, so I guess it's me.

The cruising dream is great, but it's no substitute for using your brain and having a financial plan.

With $1,000 in savings, you're not living a dream, you're just dreaming. There's nothing wrong with that as long as you realize it. You shouldn't be doing any full-time cruising without at least 8 months of living expenses in the bank. Any less than that will put you in a position you don't want to be in if tough times hit. The object is to be in control of your decisions, not to let your past decisions dictate your future choices.

A boat isn't an investment. As such you need to be particularly careful when purchasing one. Every boat, and I do mean every one, amounts to future expense. As people often say here, the least expensive boat often becomes the most expensive one.

Here is my advice, then. Keep your day job. I'm wondering why you moved from a medium-expensive state to one of the MOST expensive states. I'm assuming the promise of higher pay. But also higher expense. You need a positive cash flow to build your savings nest egg. All those kids will need an education, and that is a much higher priority than getting a boat.

All of that said, I LOVE boats. If you really love boats, and aren't simply fantasizing, you can purchase some kind of boat for almost any amount of money. Smaller is cheaper in every respect.

Good luck, and keep those dreams alive. If you want to realize them, however, you'll get there through a positive cash flow and savings. Live under your means.

[skipmac]

Originally Posted by letsgetsailing3

The cruising dream is great, but it's no substitute for using your brain and having a financial plan.

With $1,000 in savings, you're not living a dream, you're just dreaming. There's nothing wrong with that as long as you realize it. You shouldn't be doing any full-time cruising without at least 8 months of living expenses in the bank. Any less than that will put you in a position you don't want to be in if tough times hit. The object is to be in control of your decisions, not to let your past decisions dictate your future choices.

Critical advice. While I think 8 months is a somewhat arbitrary figure having a cash reserve is essential. There was a recent thread from a family that put all they had into a boat, had what were probably minor mechanical problems but with no money to fix it and limited DIY skills they ended up in a big jam.

Originally Posted by letsgetsailing3

I'm wondering why you moved from a medium-expensive state to one of the MOST expensive states. I'm assuming the promise of higher pay. But also higher expense.

I was wondering that myself. OP mentioned moving to Orlando and keeping their jobs but ended up in CA instead? Orlando may not be the cheapest place in FL but beats anything in CA by a mile unless you're out in the desert someplace. Also boating in FL is a fraction of what it costs in CA and has a lot more places to go for a new sailor.

Originally Posted by letsgetsailing3

All of that said, I LOVE boats. If you really love boats, and aren't simply fantasizing, you can purchase some kind of boat for almost any amount of money. Smaller is cheaper in every respect.

Good luck, and keep those dreams alive. If you want to realize them, however, you'll get there through a positive cash flow and savings. Live under your means.

[Gypsy_Soul]

To clarify why we chose Cali, it's because this is hubby's home state. His grandparents, mom, brothers and sisters are here (nieces, nephews, cousins...). When it came time for me to bid on my location, his grandmother was in the hospital recovering from major surgery while battling cancer. As I said, we knew it was a gamble to come here but if we would have skipped off to Florida and she not make it through....

This move achieved what we were looking for, to be coastal, in nice weather and within close proximity to "where the boats are". It also allowed hubby to be there for Manny and let him reconnect with family that he had hardly had contact with for the last 15 years. Money can always be worked for about anywhere, some places are more or less. This move was a win for us. ; )

[skipmac]

Originally Posted by Gypsy_Soul

To clarify why we chose Cali, it's because this is hubby's home state. His grandparents, mom, brothers and sisters are here (nieces, nephews, cousins...). When it came time for me to bid on my location, his grandmother was in the hospital recovering from major surgery while battling cancer. As I said, we knew it was a gamble to come here but if we would have skipped off to Florida and she not make it through....

This move achieved what we were looking for, to be coastal, in nice weather and within close proximity to "where the boats are". It also allowed hubby to be there for Manny and let him reconnect with family that he had hardly had contact with for the last 15 years. Money can always be worked for about anywhere, some places are more or less. This move was a win for us. ; )

Seems like several pretty good reasons to go west. And I have to say, CA is a great place to be, love the weather, and you get the ocean and the mountains all together. In fact as soon as I win the lottery I'm gonna buy me a house in somewhere between LA and SF, maybe Paso Robles area.

Good on you for being there for the family. Dealing with the same thing myself and one of the reasons I'm not leaving any sooner to go sailing. Well that and the fact that the boat isn't ready yet.

[maryc]

I would offer that it's not necessarily cheaper to live on a boat, if you plan to keep up with boat maintenance, and especially if you will be paying for a slip in a marina in Florida, maintaining cars so you can go to work, etc. Also, a boat is not really an investment like a house, it's more like a car as it depreciates every year....

I'd do some research on marinas and find out what it really costs in the area you're targeting. We stayed for a few months at a marina in Sanford, FL near Orlando. It was the cheapest place around, but not that cheap.... and not particularly nice either.

Just my opinion, but I think that living on a boat in a marina full-time with 3 kids, a dog and a cat is not going to be the dream you imagine. It may not be cheaper, and as a mom, I can tell you it will be a lot more work. I'd say continue to save, get out of debt and when you have enough to pay cash for a modest boat, and go cruising... it will be the dream of your life.....

Mary
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