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post #14 of Old 04-22-2013
DRFerron
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Re: A bluewater live-aboard for under $20k

Quote:
Originally Posted by dogeconomics View Post
The simplicity of it all has a deep appeal. The money will be what I can throw together from my own savings, leftover student loans, and the light showering of 'thank God he did it' graduation (MA in Econ) gifts from a family of academics and sailors. I'm putting it all at about $20k. No doubt many of my 'requirements' are mutually exclusive.... so perhaps goal is to triangulate the best possibly boat for myself.
My first thought with this financing plan is that you are somewhat counting on student loan money you have left over (it has to be repaid at SOME point) and currently hypothetical money coming in in the form of gifts to buy the boat. And making your budget fit the as-yet-seen money. That implies that there may not be a lot planned into repairs and maintenance. Unless you have knowledge of mechanics and carpentry, you may want to wait until your boat fund is a little more shored up.

You'll do what you want in the end, but be aware of how it will look to be an advanced degree Econ major broke and homeless because you didn't plan your finances better when buying your boat.

Just a thought.

Donna


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