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post #3 of Old 06-22-2006
Wandering Aimlessly
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Join Date: Nov 2002
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The hardest part of discussing cruising and finances is that it is usually different in each situation. There are a number of variables that have to be taken into account. That makes it hard to have a generic plan. And what may work for one, won't work for another.

In my case, I determined that cruising was how I wanted to spend my life. I left, as soon as I possibly could. I was advised to wait, to put away more money, but as soon as I felt I had the minimum I needed, I went. I made a partial withdrawl from my retirement account to pay for the boat, and live on for 5 years until social security kicked in at the minimum age.

Keep in mind though, I had no dependents or debt to factor in. Also, I am only coastal cruising, hence, less money on boat and supplies, as well as customs, etc.. Also, I am living primarily on the hook. And, if for some reason money does become a problem, then I'll find work till I can go back out again.

In one way, it just comes down to how much you want to do it. Yet, there is also the need to feel comfortable with doing it. And that, only each person can decide, based on their situation. In my thinking, the two biggest factors are....what level of lifestyle (ie: on the hook or at marianas, cooking or eating out, things like that) and what type of cruising you will do. Once you determine those two factors, then you have more to base your financial decisions.

One thing I will say, the sooner you go, the more likely you are to go. Every moment you wait, is one more moment for something to come up that would make you wait a bit longer.

Anyway, that's my thinking on it, for what it's worth.


Ontario 32 - Aria

Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love.

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