SailNet Community - View Single Post - Cruising and financial planning
View Single Post
post #4 of Old 06-22-2006 Thread Starter
Admirals fav target
Join Date: May 2006
Location: On land unfortunately
Posts: 229
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 12
I can see by the number of views this thread has gotten in 3 hours that there are a number of people with the same questions on their mindso I thought I'd lay out a short version of our plan.
1. An investment acount centered around mutual funds concentrating most of those investments on Mid-cap funds that have had good returns in the past. We'll stay away from investing in individual stocks and we're definately staying away from investing in companies such as Wal-Mart which probably won't be seeing large percentage increases in their value as they are considered more 'mature" corporations. Our goal is to try and realize a 10% yearly return on any investment which by the time we "take off" should be enough income to sustain us from year to year.
2. At home we're reviewing all our monthly expenditures in order to be able to put more money into our "cruising" account. Areas to look at include the satellite TV dish, cell phone service, utilities and anything else where we recieve monthly bills.

3. On the banking end.......we believe that a debit card tied to our bank account is probably the best way to obtain cash for purchases. Having very little experience abroad we are still wondering if this is the best approach. Any comments or tips on this one?
Boat wise, we are getting all the time in that we can on our Islander 30 to increase our experience. We'll sell "Fiasco" in favor of a little larger boat before we leave as we have 3 boys and will just need a bit more room.
There are other things we are doing but these are some of the highlights.
What about health insurance while cruising? I've read of several companies that offer major medical policies for cruisers that seem fairly reasonable but am wondering about the treatment of the various cuts, bruises and illnesses that are sure to occur. The Mrs's is an RN so that will help but does anyone know how she'll be treated as a medical professional while abroad?
I know there's lots more but every now and then I have to work.
NCountry is offline  
Quote Share with Facebook
For the best viewing experience please update your browser to Google Chrome