Where and How Do You Get The Money

[atmartin]

Sailing is less expensive when it's a lifestyle rather than a hobby.

Of course, if it was a lifestyle for everyone involved, a lot of people would be out of work

[James S]

Originally Posted by skipmac

Dear James "I live in Yemen, the boat's in Lebanon" S,

Considering your locale sounds like that was your business model. So how's that working out for you? Guess you managed to stay alive so far so at least you got that part right.

Got any openings?

Skip

You take the good with the bad Skip...Its worked out real well for me....so far!

[Lifegoal2sail]

LOL, your check is in the mail.

I'm not asking about the mega yacht people. I know a few people like that and DO NOT hang out with them.

I'm talking about the regular Joe that has a 9-5. Right now if I retire it'll be from the state. And even then, you can't get that pay check until you're 60. I can't wait that long!! I know some people write, but there's no way all of you are writers.

This is just something I've wondered ever since I saw my first sail boat.

[smurphny]

You surely do not need to be rich. Most of the rich don't have much time to use all those mega-yachts in fancy ports around the world (the guys and gals that work on them must have a ball though!). It's all about what you value. If you value money and financial influence, go for it. In the cases of us poor sailors without trust funds it's all about NOT being in debt. Debt is the trap from which few emerge. Whether it be mortgage, school, credit card, or car loans, once you get deep in debt you can forget about doing what you really want and spend your life toiling for the guy with the mega-yacht. Staying out of debt should be #1 on everyone's list of important ideas. Learn how to do it yourself, cut up your credit cards and you can do whatever you want. Say no to the trap. Do something with a retirement program for enough years to collect a check each month. You can live quite well on little money if you're frugal and sensible.

[roverhi]

A few people are just plain rich. They play marina on the right, eat every meal out, party all night and then move on to the next marina and continue till their livers give out. Most have been successful at something, made enough money to buy a boat and salt away enough money to cruise for a couple of years and come back, go back to work, and continue on. Others are retired with a lifetime of work behind them so have a modest income and a boat that is paid for. Still others have worked their butts off at several jobs at a time, lived frugally, paid off the boat, put a little money aside and supplement the cruising kitty with any work they can find along the way.

We did it the last way and managed to go for four years before impending son brought us back to the world. We cruised at a very low cost, around $6,000 a year. We didn't suffer but didn't eat out, hang out in bars, have a lot of toys, or the other things that eat up money. The boat was our home and our source of entertainment. Picked up a few jobs here and there that gave us a little cushion and kept us going.

One way to live the cruising life is get a profession that you can use anywhere. Diesel mechanic, electronics repair, general boat maintenance, etc. will allow you to get work almost anywhere in the world.

[spostamento nobile]

I live everyday like I'm already cruising. I got rid of my car, cable TV, magazine subscriptions, land line, etc etc. I cook at home, practicing bread, sauces, pressure cooking & jarring. No going out, no fast food, no "oh it's only $X". I and my fiance also quit smoking. That was a big one.
We buy $1 & $2 used Dvds and we have broadband internet. Other than her car, we cut out all of our luxuries with the plan of enjoying other luxuries later while on the water.
Last summer we got our electricity down to $33 a month. That's will a full-time computer running 24/7. That same month our water bill was $14. We even moved to a cheaper apartment last year.
Make a game out of being the cheapest bastard you can. Play to win. Goodwill, Salvation Army, garage sales, Craigslist & eBay are your new best friends. The only things I buy new are socks, underwear, cat litter, & toilet paper.
Not only will this save you tons of money, but chances are you will also start to feel better. Walking to and from the bus is going to happen to you in Panama, might as well start getting the exercise now.
And get another job. Even part time. Look for work even when you don't have time to take it.
I don't have a house to sell, retirement savings, or a pot to piss in, but you can bet they will be dragging my old dead corpse off a boat someplace a thousand miles from were I'm sitting now.
You have to WANT it.
Make a long ass list of goals, break it down in to manageable tasks, and make sure you do something every single day toward those tasks and goals.
That's what I'm doing.
Good LUCK!

[Sabbatical II]

Originally Posted by Lifegoal2sail

But reading all that I have, I can't understand how they (or anyone) finance it. I see costs running 20-50k a year, but these people don't work. So either these people are silver spooned kids or filthy rich, Bryan

No so! One of the advantages of living in the free world is that you can decide yourself on the size of paycheck that you want. If just depends on how you think. This is how I think. Everyone works to fullfill a dream. When I was an employee I sold a large portion of my life (50 hours every week)to my employer and built his dream. I have been self employed for the last 22 years and during that time I have been investing in my own dream. The business I've built will support me comfortably now with employees under management. For me, It started with me reading how other people did it and realising that it was achievable even by knuckleheads such as myself. Was it easy? No. Did I ever fail? Many times. Was it worth it? Yes.

Start reading and listening to the people who have actually done what you want to do, not the one's who haven't. Anyone can do it. Come on, have a go!

Greg

[captain58sailin]

My Father always told me, "You will never get rich working for the other guy." That much is true. I say the amount of money you have in your bank account will not dictate your happiness quotient. Some of the things that you can do right now without quitting your day job is, #1 Put aside 10% of every dollar that crosses your hand to use as investment capital. #2 Reduce your expenses as much as possible, it has been my observation that most people fritter away alarming amounts of money on things that have no value and bring no return. You can educate yourself about investing and when you reach a point where your money is working for you instead of the other way around then you are on your way to becoming self sufficient financially. Look around right where you are and see where there is a need for something that people want and use and provide that for them, and then take that idea to the internet and supply people around the world, it really doesn't matter what form it takes, there is always something out there that people think they need that you can supply. When you are shopping for yourself, Leave the prepackaged prepared foods on the store shelf, what they supply versus what they cost is horrendous, never buy a new car. There is plenty you can do. Start hanging out with successful people and learn how their mind set differs from yours and emulate what they are doing. That doesn't mean you have to adopt their value system or act like them. You can become well off without being a snob or being a jerk. Try to look at things with a different eye and it will help you see the opportunities right in your own neighborhood. If all you do is work your job and come home and veg. in front of the TV then that is where you will end up.

[MarkJ]

Originally Posted by SPCarroll

I'm 23, I sell cars, and I don't make a ton of money at all. .....

have been working like crazy to get her fit for sailing.

I think you are very lucky for 2 reasons: you are young; you can work like crazy

For you there's a coupla options: Work like crazy selling cars... 16 hours per day if you need to...

And at the same time do a course that will give you work in as many marine industries as possible:Mechanic, electrics, refrigeration. The courses will be somewhere near you. The there is a real chance of working whilst cruising in some parts of the world (Caribbean for example).

Most of the marine tradespeople I see are much older... 40's and 50's. I reckon a lot would like to employ a young guy for 3 reasons: they think they can pay you less, you do the shitty jobs and they know you'll work like crazy


It is up to you.

[pablothesailor]

Its a question I asked myself as I am on the brink of joining my friends on the water!! My story, Ive worked hard over the years, when others were taking 2 holidays a year I did not, ive held down 2 jobs at times and for 10 years and more did 17 hour days! The reward is a couple of properties that I can now rent out including my home which will of course become vacant once I move onto my boat hence creating an income that I had never thought of before!! I will also be able to do some work on board on my laptop!! Am I rich? No!! But can I make this work for me, yes!! within reason I think many people can do this as long as you work out your monthly income and out goings, and live within your means!

[Lifegoal2sail]

I guess for me, I’ve figured out that the kid factor is the most important obstacle right now. I just read a thread about a guy that has several kids and is thinking of living aboard. To be honest, I didn’t even think of this before. To me that would be cruel. My son is 12, and I don’t think uprooting him and changing his life would be right. While I’m ready to shed the creature comforts, he isn’t. He likes his dirt bike, video games and friends. He wants to play football next year. I couldn’t take that away. It just wouldn’t be fair to keep him from doing what he wants just so I could do what I want.

But not all is bad. The other thing this did is give me more time to save and invest. I 6yrs (7 if I’m not lucky) to learn how to sail, decide on a boat, plan my travels, and start saving. Also, in that time I will have secured my health insurance and retirement check for the rest of my life. See, some things just need to be discussed so that you can make a plan.

No back to the question. So far I don’t see that anyone as addressed the part of “what will you do once you can’t sail anymore?”

For you younger people that are “ruffing it”, do you have anything set in place for when the sailing stops? And on that note, when is it time to stop? Besides the normal situation of not being strong enough to hoist your own sails.

Again, not to get too personal on the internet, but after my last marriage, not only did I go through all my money but my credit took a big hit. Now I got the credit back, but the lasting affects are still there. I tend to worry about the feature more now then I ever did. The what ifs get me. AND I HATE THAT. It holds me back from a lot of other things.

[JRM]

Originally Posted by smurphny

You surely do not need to be rich. Most of the rich don't have much time to use all those mega-yachts in fancy ports around the world (the guys and gals that work on them must have a ball though!). It's all about what you value. If you value money and financial influence, go for it. In the cases of us poor sailors without trust funds it's all about NOT being in debt. Debt is the trap from which few emerge. Whether it be mortgage, school, credit card, or car loans, once you get deep in debt you can forget about doing what you really want and spend your life toiling for the guy with the mega-yacht. Staying out of debt should be #1 on everyone's list of important ideas. Learn how to do it yourself, cut up your credit cards and you can do whatever you want. Say no to the trap. Do something with a retirement program for enough years to collect a check each month. You can live quite well on little money if you're frugal and sensible.

+1 in a huge way.

As a teenager my dad loaned me the money to fix the car, and even gave me a decent rate (at 6%). I learned real quick that debt sucks. Every financial class I've taken has had, at its core, plans to get out and/or stay out of debt. We just recently refinanced our house down to a 15 year loan, and I got dinged on my credit report for "too low revolving credit balance." WTF? I asked several people involved in the transaction why that was a bad thing, and none of them could answer me. Everyone said, "you have great credit anyway, don't worry about it." Still doesn't make any sense to me.

I look at my friends who are in debt up to their eyeballs and wonder. So we may not drive BMWs, but we drive decent enough cars. We live in a nice house, but I did all the remodeling myself. We sail an older boat, that I've done most of the work on, but hey, we have a boat! Those same friends look at us like we're crazy when we talk about taking a year off and cruising. They can't figure out how we can afford to not work for a year, because they're all so far in debt that even the minimum payments tap them out. I've been poor, and I've been not poor, but the one thing I have learned is that it doesn't matter how much you make, you'll be happier if you live within your means.

I guess the answer to your question is, "there is no one answer." I can tell you that my wife and I both work, and that we're not cruising full time. We take shorter trips out to the islands. Next year I'm hoping to take a one month trip, and the summer after that for two months. We have a somewhat nebulous plan to take a year when our son is in Junior High (in about six years) and cruise for that year. I retire in 15 years, and the plan is to head out full time (Lord willing and the creek don't rise, as my boss likes to say). At that point I'll be earning enough in retirement between a pension and what I'm putting aside (and the rent on the house) to cruise very comfortably (in my opinion, other's opinions vary). We're sacrificing now, but we still manage to have our cake and eat it too.

JRM

[SPCarroll]

I look at my lack of credit as a blessing in disguise. It keeps me from letting myself get in debt so I am 100% free to cast off the lines and go when and where I please.

[zeehag]

rofl--i aint rich , i aint famous, i aint got no man , and i got a damn fine leaky teaky to sail my self and kat around in..lol--and i made it to mazatlan for hurrycame season--is cheap to live here in a boat now---no one wants to do it..LOL... but this marina is spozedly safe from all but hurrycame eyes and katrinas... so i should be fine for a bit, yet.... my income does just fine in cheap 3rd world countries. doesnt last a month in kali....did fine in fla and louseyanna.... jump in and have fun. is what ye make it....doesnt need to be small-- just needs to be.....mine is 41 ft.

[callmecrazy]

Originally Posted by Nobleshift

I live everyday like I'm already cruising. I got rid of my car, cable TV, magazine subscriptions, land line, etc etc. I cook at home, practicing bread, sauces, pressure cooking & jarring. No going out, no fast food, no "oh it's only $X". I and my fiance also quit smoking. That was a big one.
We buy $1 & $2 used Dvds and we have broadband internet. Other than her car, we cut out all of our luxuries with the plan of enjoying other luxuries later while on the water.
Last summer we got our electricity down to $33 a month. That's will a full-time computer running 24/7. That same month our water bill was $14. We even moved to a cheaper apartment last year.
Make a game out of being the cheapest bastard you can. Play to win. Goodwill, Salvation Army, garage sales, Craigslist & eBay are your new best friends. The only things I buy new are socks, underwear, cat litter, & toilet paper.
Not only will this save you tons of money, but chances are you will also start to feel better. Walking to and from the bus is going to happen to you in Panama, might as well start getting the exercise now.
And get another job. Even part time. Look for work even when you don't have time to take it.
I don't have a house to sell, retirement savings, or a pot to piss in, but you can bet they will be dragging my old dead corpse off a boat someplace a thousand miles from were I'm sitting now.
You have to WANT it.
Make a long ass list of goals, break it down in to manageable tasks, and make sure you do something every single day toward those tasks and goals.
That's what I'm doing.
Good LUCK!

This is exactly what I did (and still doing). I had to 'get real' and stop thinking about how to make more money, or how I was going to 'get rich enough' to sail the world... instead, think about how to NOT SPEND the money you already have.

Try to find a point where you can save about 50% of your income. No matter what that income is... It's not easy, and it will take some time. Took me about a year to really figure it out, right now I'm saving even more than 50% but I'm just not making as much as I should (long story). But I'm still going...

If you can come up with a good 2-3 year savings plan, do it. Then spend that 2-3 years learning a marine trade like MarkJ suggests. It'll be worth any money you put into it. I wish I would have done that 2 years ago, but now I'm about to start something new this year and get a few more things figured out... it's a slow process, but I keep moving forward.

Learn how to set goals and take small, steady, steps towards them. You cannot achieve anything if you are not working towards it. Accept that you may never just up and sail around the world on a the perfect boat of your choice (but one can hope!). But you can live a cruising life if you want it. Getting started is the hardest part.

Money doesn't have to stop you from anything, it just changes the way you do it.