Join Date: Dec 2012
Location: new england
Thanked 97 Times in 93 Posts
Rep Power: 5
Re: Financing a Family Circumnavigation
+1 on Need to do the spread sheets and run them through your advisors. Do this with"what if" in mind. For us with interest rates what they were, and tax structure what it is it was cheaper to partly finance the boat,keep that lump in assets with liquidity. That way could pay off the boat if either tax structure, inheritance law,or markets shifted. The lump is invested in conservative returns but liquid. If doing now would have bought the boat cash as interest rates have since gone up. Also establish plans for management of your assets when you are gone. Has taken some effort to delegate these responsibilities but now feel my manager is watching when I'm not. In example above designated assets will be sold and boat loan retired if triggering shift occurs in my absence. Secure email and other advances make it possible for you to be engaged or disengaged as life demands. Note B.J. Is on a great boat. A 53'H R . We have the benefit of being just 2 so can go smaller. As stated size does matter. Think about future plans. For us we want to do the South Pacific and also not be crew dependent. The canal and our physical capabilities kept us under 50'.
Last edited by outbound; 04-03-2014 at 08:26 AM.