How much money to cruise fulltime?

[Sofa King Fishy]

Is it plausible to cruise full time on $500,000 US? That’s what I have saved. I’m single, 51 & have a Catalina 42 that’s in great shape & paid off in full. I’m looking for a moderate to minimal life style- not something lavish.

[gabilo]

50k per year and you can cruise until you are 61, 25k per year it will last until you are 71... do some moderate investments and you cruise till you are 81 ..... sounds ok to me

[boatman61]

I reckon so, as said above if you can manage on $2K/mth and have half salted in a 10 year plan to earn some extra its a go'er..
Nice place to be..

[belizesailor]

$500K at 5% = $25K/year...and you still have the $500K in the end.

Whether you can do it on that depends on you, but there are cruisers getting by on less.

Do you plan to buy a boat out of the same $500K?

[Morgali]

Originally Posted by belizesailor

Do you plan to buy a boat out of the same $500K?

he said:
have a Catalina 42 that’s in great shape & paid off in full.

[belizesailor]

Originally Posted by Morgali

he said:

have a Catalina 42 that’s in great shape & paid off in full.

Ah, indeed he did, so...$25K per year and conserve your $500K for the future and/or unexpected expenses.

Its not a luxurious cruising budget, but feasible if you keep expenses modest.

[Mike OReilly]

Of course you can. Two of us live and cruise (1/2 year on the boat, 1/2 year doing other stuff) on far less. To me, the key is being debt free. And I mean truly debt free. Boat paid off, no house mortgage, no car payments. Nada.

With that you are free to live as you please.

[daletournier]

It depends on the type of cruising you do, nm's means money,hanging out in cheaper places for longer periods of time means less money.

I've had 30k years and 60k years, this was a 60k year [emoji26]

Checkout sailorboys budget threads, imho it's a typical cruising couples budget well documented, I think he was coming in at approx 36k usd pa.

[ranger58sb]

Originally Posted by Sofa King Fishy

Is it plausible to cruise full time on $500,000 US? That’s what I have saved. I’m single, 51 & have a Catalina 42 that’s in great shape & paid off in full. I’m looking for a moderate to minimal life style- not something lavish.

There are a couple of useful ongoing threads here detailing actual expenditures over the course of months/years. Look for posts by sailorboy and cthoops, I think. May be others, too...

-Chris

[daletournier]

Of course that 500k needs to do some work for you.

[Simi 60]

Originally Posted by belizesailor

$500K at 5% = $25K/year...and you still have the $500K in the end.

25k less tax and possibly a higher rate of tax taken again if you cruise foreign lands

[belizesailor]

Originally Posted by Simi 60

25k less tax and possibly a higher rate of tax taken again if you cruise foreign lands

There are tax exempt options available, like municipal bonds.

Ive never encountered a foreign to me country that tried to tax investment income.

[Shrew]

The Balance will include the interest accrued and the principal withdrawn. The first few years will be mostly interest and a little bit of principal. towards the end, obviously mostly principal and little interest.

Try using any number of "Retirement Income Calculators":

https://www.bankrate.com/calculators...alculator.aspx

This has a 500K investment running around $2,500 gross ($2100 after taxes) per month for 30 years. There is a section to account for inflation.

[Simi 60]

Originally Posted by belizesailor

There are tax exempt options available, like municipal bonds.

Ive never encountered a foreign to me country that tried to tax investment income.

Not the other country, your country.

[sailorboy1]

I started 3 years ago with a paid for boat and about $500k and have posted monthly since the start. My spreadsheet is attached and you can search my monthly threads by clicking my user name. ChuckR also has post 10-11 years of very detailed costs.

Good luck and have fun