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  #61  
Old 11-14-2012
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Re: My Escape Plan - Insights Wanted

Quote:
Originally Posted by eric-the-red View Post
Entry fees? Departure fees? Good lord, everyone needs a piece of you don't they?

So what are some low, high, avg entry fees you guys have paid?

Capt. Aaron, do they hassle you when you return to a place that charges a departure fee when you return, or do you just X that off your list of places you'll go in the future? I'm really starting to think I should follow you around for a few months!
I'm not suggesting you do this, but when I know I'm not coming back through a country like Belize, or Mexico for a year, I usually just leave. I've never in 20 years been asked how come I did'nt clear out last time , and never been asked by the next country where my exit stamp is from the last place I was. But you have 200,000 dollars in the bank, I've almost only had the cash in my pocket and it's never been more than a couple grand. I sailed down to mexico with 200 bucks in my pocket, cleared in, had 50 buck's left over, and stayed for 3 months taking Lonely planet Backpackers sailng in exchange for nights out and groceries, I only left because some Irish Dude payed me to give him a lift back to the states, When I got to Key west, I Bar backed for a year and saved enough to sail back to Mexico and open my own Bar. If your only half as resourcefull and a 1/4 as rugged as I'm guessing, your in great shape right now with out the % of this and that bullsh!t. And buy the boat out right, you want to own your boat. Look on Sailboatlistings.com-Florida, and keep it under 50 grand, I would'nt spend more than 30 G's on a westsail 30 something footer If I was you. Very forgiving boat for the learning curve of offshore passage making, wich you will be doing in the Carribean, it's not all lagoon sailing down here, you have to step off shore for a few day's here and there to get anywhere. Just my 2 cents and it's probably only worth a penny.
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Last edited by Capt.aaron; 11-14-2012 at 08:19 AM.
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  #62  
Old 11-14-2012
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Re: My Escape Plan - Insights Wanted

I wouldn't call it bull$hit, but I respect a different opinion.

Perhaps, having seen some relatives get older and have nothing, including any remaining resourcefulness at their age, it has jaded my opinion of why one should be weary. Unless one dies too young, the odds are near zero that one will sail single-handed for their lifetime. These particular relatives could have saved, but instead, the rest of the family or society is taking care of them now.

I say, go out there an cruise. Just have a good plan to remain self sufficient over the long term and its a beautiful thing.
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  #63  
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Re: My Escape Plan - Insights Wanted

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Originally Posted by Minnewaska View Post
I wouldn't call it bull$hit, but I respect a different opinion.

Perhaps, having seen some relatives get older and have nothing, including any remaining resourcefulness at their age, it has jaded my opinion of why one should be weary. Unless one dies too young, the odds are near zero that one will sail single-handed for their lifetime. These particular relatives could have saved, but instead, the rest of the family or society is taking care of them now.

I say, go out there an cruise. Just have a good plan to remain self sufficient over the long term and its a beautiful thing.
Ya, no, it's not bullsh!t, He' should get as much as he can with what he has. I have a 401k and investments and I want the best return I can get. I'm just say'n, you put 200 grand in my saving's, I could get by pretty comfy on the interest off set with the odd job and under the table back country charters.
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  #64  
Old 11-14-2012
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Re: My Escape Plan - Insights Wanted

This thread is not nearly as entertaining as the ones for people who have no chance in hell of pulling this off.
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  #65  
Old 11-14-2012
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Re: My Escape Plan - Insights Wanted

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Originally Posted by Geoff54 View Post
Where do you get 5% from? I like the plan but you are not going to get more than about 1.5% on any "safe" investment. You might find an introductory rate a bit higher but even then, not 5%. The only way you might realize 5% will be by accepting some risk and actively manage your money and, if you have the skills and the risk tolerance to do that, think about the mechanism(s) you will use to keep track/trade from a boat. Or think of what else you can do along the way to make some extra money.

Good Luck to you!

BTW, if you have a safe way to make 5%, I'd REALLY like to know.
Who do you bank with?? You might want to shop around some. Just saying. this is my rate of return in a low to Mod investment 401-k nothing risky. Its not earning as well as mi wifes.

3 Months-- YTD-- 1 Year --3 Years --5 Years--- 10
3.89% --11.38% --9.20% ---9.84% ----2.10% -- 5.47%
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  #66  
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Originally Posted by Stumble View Post
Eric,

Frankly if you thought you could live on $1,000 a month, and you probably can. It would be best to have about 1,500 a month from interest. This way your principle grows faster than inflation, and you can keep ahead of the curve. Alternatively just a little bit coming in each year from paid work can really help add back to the principle.

Just 1,000 a year in paid work is the equivalent of having an additional 20,000 invested (at 5%) if you can pick up enough piece work to make even 5,000 a year, that's like having an additional 100,000 in the bank. Which would allow your principle to grow faster than inflation (this is the real key).
Great point
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  #67  
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Re: My Escape Plan - Insights Wanted

Eric,
I was just poking around sailboatlistings.com-fla. There are a sh!tload of boats for under 40 G's. The 1967 soverel for $8,000, and 1976 down east for 30 something. check it out dude. You can jump start your dream if you buy here and your a few day's sail from the Carib.
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  #68  
Old 11-14-2012
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Re: My Escape Plan - Insights Wanted

Quote:
Originally Posted by eric-the-red View Post
Entry fees? Departure fees? Good lord, everyone needs a piece of you don't they?

I'm really starting to think I should follow you around for a few months!
Again, if you stay in the Caribbean it's quite cheap to clear in a d out of most countries. And it's well known which are the expensive ones! Just look on noonsite.com it has all fees listed.

The Bahamas is the only expensive country at $300 to clear in, but that's for months and its cheap to stay there.

St Martin Dutch side is $25 aprox to clear in and no anchoring fee unless in the lagoon, and there is $20 per week.
French side of St Martin is where local knowledge comes in... Entry 25Euro plus 25 euro per night to anchor! BUT if you clear in at Port Royal, about 300 meter walk away, it's only 7euro and free anchorage!

Antigua is the same... Clear in in English Harbour and pay a National Park fee to anchor, but clear in in Jolly Harbour then it's free to anchor in English Harbour!

So don't worry about clearance fees in the Caribbean.

Remember this whole idea is good for this one area. Don't get the idea it's the same in the Pacific, or the Med.
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Last edited by MarkofSeaLife; 11-14-2012 at 09:15 AM.
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  #69  
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Re: My Escape Plan - Insights Wanted

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Originally Posted by Minnewaska View Post
Glad to hear you're feeling good about it all.

However, you're now going to make $15k on $200k per year, which is 7.5%? Ask him to give you an example of one taxable bond that yields 5-6% these days, particularly after his fee. The risk free 5 year treasury rate is about three quarters of one percent. The only way you can increase yield is to buy lower credit quality or extend maturity. The former means you may not get your principal back if the issuer bankrupts. AAA rated bonds are currently paying in the mid 3% range. Locking in for longer terms means you will still be getting those yields, when the rest of the world starts getting much more and inflation is ramping up prices.

Just be smart with your money. The choice is yours.
Sailing newbie here - but I am not investment newbie. Great discussion and I am learning some things as I plan for my early retirement. I agree with Minnewaska -- I have never heard of a conservative investment strategy that is making 5-6% in the current market. Also make sure you understand what fees your investments will be paying.
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Old 11-14-2012
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Re: My Escape Plan - Insights Wanted

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Originally Posted by eric-the-red View Post
So, that's the plan so far. What do you think?
Eric, this is most well thought plan I have seen lately. I have no doubt you will be fine with your background and determination.

All the best.
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