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Old 04-01-2014
engineer_sailor engineer_sailor is offline
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Financing a Family Circumnavigation

I've read many books, blogs, and other accounts of families setting out to cruise for several years. Everytime I ask myself: how did they finance this?
I know there are many different answers and budgets based on lifestyle choices, timelines, risk tolerance, etc. So to set some parameters:

Say a 4 year trip for 4 people, 2 adults and 2 kids

Boat: $300k
Yearly costs: $50k (assuming no boat payment)

Lets call the total $500k and ignore yearly interest and such. Where does this $500k come from? Are people raiding their 401ks and taking the penalty? Are people financing the boat and making monthly payments? Does the insurance issue prevent the boat financing, which means you have to $500k liquid?

When I think about incomes, the cost of living on land before the trip, and the required trip dollars, it never seems to add up.

So, how do people do it?

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