Iíve joined the forum as part of my intent to learn as much as possible as I work
towards my dream of cruising.
Iím 37 years old and am married with twin 3.5 yr old twins. Iíll be retiring from the military in approx 4 years and am in the process of warming my wife up to the idea of transitioning to a cruising lifestyle.
While I think we are in a very good position to make it happen, there are many challenges. The initial financial expense of purchasing
and outfitting the right boat
has become the most complicated issue.
My wife is unwavering in her demand for a 45-50í Catamaran
. We are living on half our paycheck and saving as much as we can, but with savings and selling some investments I fear we will come short of what would be needed. Iím projecting weíll have somewhere around 250k. From the browsing Iíve done i believe Iíll need more around the 400k for a 10-15yr old Cat if that description. Iím very fond of the Leopard
My retirement income
will be somewhere around 3.5k/month... but Iíd really like to plan to have the boat
paid in full prior to setting sail and have that money
to live on and save for maintenance/upgrades.
Iím currently considering two options:
a vessel in two years with that down payment weíve been able to come up with at that point and live aboard
for the last two years of my service
. That will most likely be in the Norfolk VA area. In this time we would put all our monies to attempting to pay it off. There are also 2 sub-options to choose from here... 1. Live on the boat while on the hard
2. Spend a little more and get it in a wet slip.
On the hard
would allow for more money
to be put toward the loan, but having it in the water
would allow for us to take it out on weekends and Hollidayís to get proficient (and work
towards getting my USCG license).
Iím currently leaning towards putting it on the hard (if we go with the option of financing
it in two years).
The second option would be for me to get a job for a few years after retirement
and work till we have enough to pay for it all up front. 5 years maybe.
I guess i could do a combination... buy the boat in two years and just plan on working ashore till i got it paid off.
Welcome to any thoughts anyone has on that.
There are also knowledge and skills I need to work towards. Iím ASA
104 qualified and am well aware of my gaps. I need more education on navigation
, Diesel engine repair
, and just more time sailing in adverse conditions.
Iím also doing as much reading as i can... just finished ďThe Voyagers HandbookĒ and am working on Jimmy Cornellís ďWorld Cruising RoutesĒ and ďWorld Cruising DestinationsĒ. Iíve got a list of books
to keep me occupied for a while (in addition to all the good stuff on this forum).
I greatly appreciate all the shared wisdom.