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I know there is lots of other posts that state if you had $1 Mil what would you do... Here is a new twist with a number that may be more realistic for some - $300,000 cash. This needs to include the purchase of the boat, outfitting, how many years you think you could make it last and any other budgeting you would do. To each there own on how they would spend it...
My thoughts... Boat - First Tayana 42 CC then Cabo Rico 38 - $110,000 Outfit - $30,000 Yearly Budget - $35,000 (2 Adults, 2 Kids on the hook mostly) Years on the Water - 4 (If I spend less yearly I would go longer) Emergency Fund - $20,000 Location - Start in the Caribbean and make my way over to the South Pacific but depends on boat location...
$20K for a new, 75 hp marinized diesel engine (presumably with transmission), installed, would not be far fetched. That figure might also include some of the "running gear" (e.g. shaft, cutless bearing, dripless shaft seal, etc), which most folks would go ahead and swap if they were going to the effort of replacing engine.
When paying someone else to perform the installation, it rarely makes sense to "economize" on a re-built engine because the cost of labor can be the larger portion of overall cost. Given the investment in labor, it usually makes more sense to swap for a new engine.
If you're a DIY, of course the costs are very different.
Lets assume it takes 1 year to SAIL around the world. If they spend 90% of their total time doing repairs INSTEAD of sailing, then the total time to circumnav woud be 10 years; 1 year of sailing and 9 years of repairing.
I suspect there is a slight exageration in there somewhere.
Interesting topic. I've talked to my wife about this and I think we could be pretty happy with a Cape Dory 25d for around $15k. The rest would be spent on the minimum necessities to stretch the cash for a very long time. But we are willing to live without alot of creature comforts.
Sorry to be so slow to respond; internet is pretty sketchy here in Paradise.
*the $20 for the engine included a crane to remove the old engine & put in the new; rebuild/work over the V-drive & work to mate the existing transmission; repitch the prop to be compatible with the new engine RPMs, and etc.
*maintenance: we're feeling lucky so far to be under budget, but that budget includes the annual haulout & bottom paint. When we're back in the Chesapeake in the summer, it'll also include a diver periodically to get the slime off the bottom (yeah, even with new paint!) and, GRRRRR! at least one outboard carburator rebuild every year if we're in the land of ethanol gasoline.
*C-dad, I did too include the grill, under "miscellaneous items less than $1K each" the very last one. But it's been so chilly/windy that we've generally wanted the heat from the stove to warm the cabin, so we haven't used it much. Just traded a few 1-lb propane cylinders to another boat in exchange for some Kaliks.
The rambling not well written thoughts of and almost 54 year old with a wife that does not like to sail to much and two children finishing Masters degrees
I have chosen to NOT escape and instead set-up my life in a way that allows me to sail on my boat and others as much as i want .(4 days a week+) I do this with a diverse group of M/F people between 15 and 93 and its a LOT of FUN and works for US
Most people with children do need health insurance and believe it or NOT were you live has a great affect on its cost as well as were YOU can see a doctor and have it covered and my costs are much like Johns above 1k a month
Boats ,what every works BUT it changes we spent a LOT of weekends sailing the east End of Long Island with 4 on a J24 BUT a funny think happened
Most of the people we want to take sailing cant really do the J24 anymore which prompted to the move to the Cal 29
Again at 54 having paid 200+ boat bucks for various collage costs (it would have bought a heck of a boat ) i will continue my pay as you go as its whats GOOD for US
300K single with no attachments is a different story than 300K with a wife and 2 children. Currently in the latter situation, I'd have to say get a boat for weekend and vacations (better yet charter out bareboat for some holidays)...
Put aside 75K for each kid, spend 75K on your boat, and 75K for extended vacations with family and friends. Negotiate a 60 day sabbatical once the boat is set and head out with the family for a few weeks and see where it leads.
I know this is the conservative route but until the kids are independent and equipped to take on the world it's a tough proposition to drop everything and "just go". I realize the only thing we don't get back is "time" but that's a double edged sword when considering children and their needs at certain critical times.
...now 300K and a single without a port of call, that's an entirely different story...
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