My Escape Plan - Insights Wanted - Page 4 - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > Out There > Cruising & Liveaboard Forum
 Not a Member? 


Like Tree42Likes
Reply
 
LinkBack Thread Tools
  #31  
Old 11-13-2012
Senior Member
 
Join Date: Feb 2010
Location: Narragansett Bay
Posts: 8,687
Thanks: 10
Thanked 113 Times in 107 Posts
Rep Power: 6
Minnewaska will become famous soon enough Minnewaska will become famous soon enough
Re: My Escape Plan - Insights Wanted

You're getting some great cruising advice and different perspectives. Since we don't really know you, all we can offer are different perspectives. You'll have to sort out what is best for you and I wish you well in the adventure.

The financial part does seem very shaky to me, so pay close attention to it. There is no way on earth to rely on 5% per year after taxes (perhaps penalties in your case) not to mention foreign exchange risk. Not to mention that over time, inflation makes things more expensive, but your principal isn't growing to provide a higher cash flow on your return. Not talking you out of going, but I'm pretty certain the math doesn't work.

Further, your brief description of your current lifestyle might suggest that living on the absolute edge of your resources would be a serious adjustment. Again, only you can know. But one thing missing from your budget that most cruisers seem to budget is a periodic flight home to see family or friends. Often annually while you get maintenance done.

As far as maintenance goes, single items can cost your entire annual budget and eventually will. You can't sail forever with the same sails or rigging. I'm sure you can scrounge and save.

My financial advice would be to save as much liquidity as you can, outside of your 401k. Go cruising until it's gone. Keep it invested safely (low return) and try to supplement with odd work, if you can. Let your 401k continue to earn untouched and build tax free. When you're out of everything else, its time to go back to work. Not a bad deal really.

Best on your adventure. (p.s. you did make one mid-life crisis comment above, but I'm not going to dwell on it. It's for you to sort out)
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.
Reply With Quote Share with Facebook
  #32  
Old 11-13-2012
Capt.aaron's Avatar
KNOT KNOWN
 
Join Date: Dec 2011
Location: Guanaja, Bay Islands, Honduras
Posts: 1,320
Thanks: 1
Thanked 19 Times in 19 Posts
Rep Power: 3
Capt.aaron is on a distinguished road
Re: My Escape Plan - Insights Wanted

Quote:
Originally Posted by eric-the-red View Post
Thanks Mark and Aaron, you guys are giving me hope that next fall could work!

I alluded to this before, but to be clear, I have a pretty great life right now. Great friends, good job, lots of activities that I'm passionate about, and the money to pursue them. So, escaping was perhaps a poor choice of words. But after working in cubeland for 15 years or so, I'm ready for a life change. I'd be escaping a perfectly fine "normal" life for something more exotic. And I'm not looking to find myself...I know who I am. I love exploring. I love challenging myself. And I love sailing. And I love not working. Actually, sometimes I love my work too, but the idea of having the freedom to go where I want, stay as long as I want, and explore ot to my heart's content is very appealing.

A "sea of old people" is both hilarious and enlightening. I imagine many have some fascinating tales to tell, and that I'll find some younger interesting people exploring local towns.

And if I do find I don't like it, I can always sell the boat and go back to normal life, right? I do get that simply stepping back into where I was is not likely to happen. I'm ok with this.

I've read that you typically need to put in about 30% of the cost of a boat to equip it for extended cruising. Thinking I'll need a pretty good solar power system, watermaker, maybe wind gen, and great nav electronics and a powerful and super reliable engine - not neccessarily repower, but have a mech go through everything. I can see all that running 25-30k. But you're right, I can probably find most of that on a used cruiser.

Hadn't thought about buying in Fla, but maybe I'll start looking there as well. No reason I couldn't just live in a tent while checking out boats for a couple weeks. I'm not really planning on ocean transits. Maybe after a few years try to get to Europe. Maybe. Primarily coastal cruising. I guess "gunkholing", which is a new term to me. That's when you just find a spot to anchor that's not a port or harbor? If so, yeah, that's the plan. Writing, reading, photography, windsurfing and snorkling will all be done in mass quantities. Add to that biking and busing to explore inland.

So, couple questions about "the life".

When you're outside the US, do small towns and small ports typically have anchorage spots to throw down for free or do they charge? If they have moorage bouys, what do those cost typically? What about tying up for a few days down in the Carribbean and S. America? How much is that usually?

Also, what do you guys do during hurricanes? Outrun them? Ride them out in a protected anchorage? Anchor and get a hotel? Put the boat on the hard?
From Isla Mujeres to Cartegenia to Port Antonio Jamaica there are many small town's to anchor off for free. South America is Generally agood place to stay out of the Huricane belt. Rio Dulce is a good place to stay protected, cheap Marinas. Most things that have broke on my boat I've tossed and realized I never needed rather than replace. I broke a life line stantion 20 years ago and just got rid of the life lines, I wear a harness. My engine sh!t the bed so I tossed it. Boat sails better. My delfatable dinghy puntured so I started paddleing an old windsurf board like a sit on top Kayak. it stows well on deck, no one wants to steal it and I'm healthier. My centerboard popped a hole in my hull 200 miles off shore so I stuck a chop stick wrapped with a sock in the hole and it stayed that way for 6 months untill I careaned my boat on a beach and fixed it with some epoxy. There is alway's a way.
__________________
" Some are boat wise and some are other wise"

Last edited by Capt.aaron; 11-13-2012 at 09:13 AM.
Reply With Quote Share with Facebook
  #33  
Old 11-13-2012
MarkofSeaLife's Avatar
Senior Member
 
Join Date: Nov 2010
Posts: 1,968
Thanks: 25
Thanked 39 Times in 36 Posts
Rep Power: 4
MarkofSeaLife is on a distinguished road
Re: My Escape Plan - Insights Wanted

You can take the word marina out altogether.
I only ever go in to the fuel dock. Ok it's different while I am cruising the USA but I have saved for that.

As far as I see the biggest expense in you early move would be the Panama Canal.
With that and boat prices in Florida and the Caribbean I think looking there is a good idea.

As Arron said many things he has tossed off his boat. Don't chuck the engine, but don't buy anything whatsoever in the first year. Except solar panels.

I always worry when people use the words refit or outfit. WHAT? What does one need to outfit? All reasonable boats that you can buy for $70k should have sails, GPS, plotter, refrigeration and a good autopilot. What else do you NEED?
Ditch the idea of a water maker and buy a blue Jerry jug for $20
You are in the tropics, do you NEEEEEEED a new Bimini, enclosure, added canvas? Buy a boat with that crap on. I have a Bimini and after 4 years would like a dodger, but that's after 4 years.

An epirb cost $400, cm93 charts downloadable off the net and Opencpn is free. You don't need radar as there's no fog in the tropics. You're not crossing the Atlantic so why spend $3k on a life raft.
You do need a dinghy and outboard, but start small and old. Second hand outboards in Florida are $500 for a 9.9hp.

Don't listen to all the crap about storm sails, rerigging, keel bolts, generators, wind vane steering, wind generators.

One other thing, you seem to be stuck on one boat brand, and an old series of boats. Remember salt water, no matter what old sailors say, ruins boats. Anything from the 1980's will be very old. Expand your horizons.

Just as an example, I'm not suggesting this boat or type, it's just that I know them, and their prices cos I own one... http://www.yachtworld.com/core/listi..._id=40064&url=
2002 year, 39 foot, asking $89,000 is probably ex charter and done up afterwards. I would think $70,000 could get it if the guy is motivated.
At least it's a start to looking at other boats. IMHO far better than an 1980's boat for $50,000.


All the best.


Mark
__________________
Sea Life
Notes on a Circumnavigation:
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Share with Facebook
  #34  
Old 11-13-2012
TQA's Avatar
TQA TQA is offline
Bombay Explorer 44
 
Join Date: Apr 2009
Posts: 2,425
Thanks: 0
Thanked 33 Times in 29 Posts
Rep Power: 6
TQA is on a distinguished road
Re: My Escape Plan - Insights Wanted

There are deals around in the Caribbean. see CLICKY

You have enough money if you follow the Pardey's golden rule

GO SMALL GO SIMPLE GO NOW
Reply With Quote Share with Facebook
  #35  
Old 11-13-2012
chucklesR's Avatar
Senior Member
 
Join Date: Sep 2007
Location: Pasadena Md - Magothy side
Posts: 5,938
Thanks: 9
Thanked 29 Times in 29 Posts
Rep Power: 9
chucklesR is a jewel in the rough chucklesR is a jewel in the rough chucklesR is a jewel in the rough
Re: My Escape Plan - Insights Wanted

I'm retired Navy, my monthly pension check is going to be our only sure source of income. Fortunately, we have planned for this for a decade and have reserves to augment it without hitting the principal on those reserves we figure to have 3 times what Eric is planning for income.
We'll also have medical care in just about any U.S. port - and help in most overseas places as well.

We really don't want to be 6 months in and have a engine crap out with no way to replace it. Frankly that's the thing I see wrong with the minimalist budget plan - no reserve.

Maybe we just need to get on the boat and go already.

ON the other hand, that bad word 'outfit' does need to happen on a a lot of boats, and it can indeed run to 30-40k. Boat bucks add up.
We bought a very gently used Irwin 38 CC, it has no auto pilot, no solar, no water maker - in short not a dang thing that wasn't on it when it slid into the water in 1987.
50K buys a GOOD hull, not a well outfitted boat with reliable gear.

That stuff adds up and some of it you can't do 'on the way'.

If someone out there has a surefire way of hitting 5% on investments with no risk, send me a PM.
__________________
Lessons learned are opportunities earned.
Reply With Quote Share with Facebook
  #36  
Old 11-13-2012
Capt.aaron's Avatar
KNOT KNOWN
 
Join Date: Dec 2011
Location: Guanaja, Bay Islands, Honduras
Posts: 1,320
Thanks: 1
Thanked 19 Times in 19 Posts
Rep Power: 3
Capt.aaron is on a distinguished road
Re: My Escape Plan - Insights Wanted

The systems a retired couple NEED are the same systems a singlehandling barebone's guy does'nt WANT. My buddy bought a 38 foot 1967 columbia for $10,000 last feb. and is somewhere in the Caribbean now living the life. I never sail into something I can't sail out of, that's the reserve. Sound hull, stout rig, decent sails and rudder that goes back and forth when you push and pull on the tiller and your sailng. Throw a DEEP CYCLE car battery and 100 dollar solar panel on deck and your sailng at night. Men that learned the way's of the world in suburbs, sold the house and bought the dream, have a set of needs much different than those of us raised and make their living on the sea. I'm obviously on the extreme end, but there is a very reasonable balance of safety and comfort that fall's ten's of thousands of dollars short of what a lot, or most cruiser have been told or think they need.
Sal Paradise likes this.
__________________
" Some are boat wise and some are other wise"
Reply With Quote Share with Facebook
  #37  
Old 11-13-2012
Cruisingdad's Avatar
Best Looking MALE Mod
 
Join Date: Jul 2006
Location: Mobile Liveaboards
Posts: 9,894
Thanks: 3
Thanked 97 Times in 52 Posts
Rep Power: 10
Cruisingdad is a jewel in the rough Cruisingdad is a jewel in the rough Cruisingdad is a jewel in the rough
Re: My Escape Plan - Insights Wanted

Quote:
Originally Posted by chucklesR View Post
I'm retired Navy, my monthly pension check is going to be our only sure source of income. Fortunately, we have planned for this for a decade and have reserves to augment it without hitting the principal on those reserves we figure to have 3 times what Eric is planning for income.
We'll also have medical care in just about any U.S. port - and help in most overseas places as well.

We really don't want to be 6 months in and have a engine crap out with no way to replace it. Frankly that's the thing I see wrong with the minimalist budget plan - no reserve.

Maybe we just need to get on the boat and go already.

ON the other hand, that bad word 'outfit' does need to happen on a a lot of boats, and it can indeed run to 30-40k. Boat bucks add up.
We bought a very gently used Irwin 38 CC, it has no auto pilot, no solar, no water maker - in short not a dang thing that wasn't on it when it slid into the water in 1987.
50K buys a GOOD hull, not a well outfitted boat with reliable gear.

That stuff adds up and some of it you can't do 'on the way'.

If someone out there has a surefire way of hitting 5% on investments with no risk, send me a PM.
A few weeks back, we had a dock party. Our neighbor next to us showed up and was stumbling. We all thought he was drunk, but that was a bit out of character for him. Didn't see him the next morning. Turns out he had a stroke. His boat is soon to be up for sale. He is done.

About two and a half years before that, had another dear friend who was planning out his retirement and cruising. He was an avid sailor and even ran a small charter for a year in the carrib. His wife and he were absolutely awesome. We stayed out that night having a few drinks and a great time (his wife was out of town). Went to bed (his boat was a few down from mine). Woke the next morning and did not see him walking the dog as usual. Shrugged it off. Figured he was hung over. By noon, his dog still barking, I began to have second thoughts. Dad and I knocked on his boat to no answer. I didn't like it so sent dad to tell the marina and I proceeded to break into his boat. I found him dead beside his vberth. Heart attack. I dearly miss that friend and still wear an old shirt he gave me which I will never get rid of.

Don't let it happen to you. When your boat is perfect, your body may not be. I don't totally agree with the advice of just going, but I do believe that you should be cautious about overloading the boat with all the things you think you will "need" and turns out they are nothing but a PITA and you don't use them much.

Understand that I am not Aaron or Mark (both of whom have given great advice). I raise my kids on my boat and I have a higher level of comfort which I expect. But there are things on my boat I would not buy again and some I wish I had that I have just found work-arounds. There is no shortage of things you can buy for your boat, as you will see!! But in the end, when you are anchored, all you really need is a good set of ground tackle and a boat that doesn't leak (from below the waterline at least!!). The rest you will figre out for yourself. Hang in West/South Florida to check out all the places (there are a LOT) and enjoy the cruising life here while knowing a yard is close by. Figure out what works here, then try the Tortugas. Go to the keys and anchor out for a week(s). THen push off further. You will be a lot happier you did that than being another year or two older and having a bunch of stuff you may not even need, or wish you had spent it on other things that you really do.

Just my opinions as a friend.

Brian
__________________
Sailnet Adminstrator & Moderator
Catalina 400 Technical Editor

2004 Catalina 400, Sea Mist IV (our boat, F/T Mobile Live Aboards in S FL and Keys primarily)
1987 Tayana Vancouver 42, Credendo Vides, (Mom and Pops boat, F/T Mobile Live Aboards in Puget Sound)

My Website:
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


Follow My Blog at:
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


Follow me on Facebook:

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Last edited by Cruisingdad; 11-13-2012 at 09:46 AM.
Reply With Quote Share with Facebook
  #38  
Old 11-13-2012
Capt.aaron's Avatar
KNOT KNOWN
 
Join Date: Dec 2011
Location: Guanaja, Bay Islands, Honduras
Posts: 1,320
Thanks: 1
Thanked 19 Times in 19 Posts
Rep Power: 3
Capt.aaron is on a distinguished road
Re: My Escape Plan - Insights Wanted

I'm notorious for pushing the limit's. Those of you who have not been absolutly broke and homeless are quite naturally, deathly afraid of it. When I was 28 after 10 years of living aboard and cruising, I sold the boat and traveled around with a jungle hammok, Flew to Guatemala and hitch hiked to Bellingham Washington and back to The key's, staying mostly in National Forest's. I ate peanut butter sandwich's and macaroni with hot dogs cut up in at at catholic and methodist churches from Portland to Austin. I worked day labour and washed dishes. Could I travel like that with a wife and two small childeren? ofcourse not. Could I cruise and live aboard like I do with a family, absolutely not. For Eric the red, his intro years are best served doing like Brian say's, gunk holing around the soft bottom and tranquil forgiving water's of S.W. Fla. Near boat yards and services. shaking down himself and the boat. Then push off from there. You want to go through that learning curve on your own and put the girl and what next on board once you've mastered some of the essential skills, and added and subtracted the essential equipment. My engine died forever well after I did'nt need it anymore. My pressure pump died after I figured a pump up bugsprayer makes a better shower and you can do most of your washing in the clear clean Caribbean waters. My fancy dinghy died right about the time I needed the excersise of paddling anyway's. My main sail blew out right before I found that used sail company in Sarasota. My whisker pole broke right after I found out a closet pole and a rolling hitch was easier to deploy. Some one stole my 25 pound danforth while I was using it right after I deployed the 45 pound CQR and 100 of 5/8 chain. THE SHAKE DOWN. get it off me, get it off me. Like when Bernard M. cut the drogue he was dragging in the roaring forties and found Joshua handled better with out it.
__________________
" Some are boat wise and some are other wise"

Last edited by Capt.aaron; 11-13-2012 at 11:14 AM.
Reply With Quote Share with Facebook
  #39  
Old 11-13-2012
chucklesR's Avatar
Senior Member
 
Join Date: Sep 2007
Location: Pasadena Md - Magothy side
Posts: 5,938
Thanks: 9
Thanked 29 Times in 29 Posts
Rep Power: 9
chucklesR is a jewel in the rough chucklesR is a jewel in the rough chucklesR is a jewel in the rough
Re: My Escape Plan - Insights Wanted

I (we) hear you Brian.

It's because of those health issues that we need the next 2.5 years, autopilots, windlasses and lots of power for the lux's in life. Not to mention padding the baby feline (kitty).

Aaron, you have my respect for minimalist sailing, but it's not for us.
Capt.aaron likes this.
__________________
Lessons learned are opportunities earned.
Reply With Quote Share with Facebook
  #40  
Old 11-13-2012
KelleyG's Avatar
Sailing on Chance
 
Join Date: Sep 2012
Location: Brooklyn
Posts: 17
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 0
KelleyG is on a distinguished road
Send a message via Skype™ to KelleyG
Re: My Escape Plan - Insights Wanted

My boyfriend and I are getting ready to leave for our new Caribbean life as well. We leave just after New Years from Florida. We plan to take an extremely frugal approach and hope we can stick to a 1200 - 1400 a month budget. We have a 1974 34' Seafarer that we've spent the year "outfitting." We didn't spend anywhere near 70K so we needed to make a few updates to her before she'd be ready for the trip. Thank you all for sharing your experiences. They make me more confident that we can actually do this (budget wise) if we are determined enough.

Kelley
Sailing Chance
Reply With Quote Share with Facebook
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Sabre 42 reviews, insights dszerlag Sabre 1 02-18-2011 09:05 AM
Long Island Sound first boat insights? mrubin Boat Review and Purchase Forum 9 05-24-2010 06:49 PM
Phase 1 of escape plan EBdreamn Introduce Yourself 6 08-19-2008 09:45 PM
New Escape Tom Wood Learning to Sail Articles 0 12-09-1999 07:00 PM


All times are GMT -4. The time now is 02:55 PM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012