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  #71  
Old 11-14-2012
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Re: My Escape Plan - Insights Wanted

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Originally Posted by Minnewaska View Post
No right or wrong. We could probably give it all up and make do from here out. However, our kids would pay too. We are fortunate enough to fund their (very expensive) educations and other things they can't do for themselves yet. If we keep going (and make it), we will have a very comfortable retirement. I get the thought of potentially dropping dead and missing out. That's a risk for sure.

However, we spend as much time aboard for 7 months as humanly possible and will try to get a week or two in the Caribbean this winter. This only works because we are working. In the end, we spend probably 90 days aboard each year, while working. Its pretty close.

If the plan works, we'll retire at 60 and spend 6 straight months aboard each year and 6 ashore doing day sails. If our health holds out, that should be good for the rest of our lives, or until we're physically unable to sail.

For me, I'm still shooting for that, rather than blow it all now. Just me.
This is a sound approach for me or us (me and wifey). We finished paying the kids college and getting them their cars, they both landed on a great career job right after their graduation. I thought we were done until my daughter decided to go to the med school this year, so now we have 4 more years to go before I am free.

I don't know if I can sail or stay in paradise non-stop for years and years. I will get bored on the boat. Both my wife and I have a good career and enjoy our work. I think sailing 70% and work 30% will be a good compromise. Therefore, whenever or wherever I want to come home, I will just haul out the boat and fly home to work for a few months and then go back to sailing. I guess I can do this until I die.
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  #72  
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Re: My Escape Plan - Insights Wanted

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Originally Posted by scratchee View Post
This thread is not nearly as entertaining as the ones for people who have no chance in hell of pulling this off.
Now that's funny.
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  #73  
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Re: My Escape Plan - Insights Wanted

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Originally Posted by ltgoshen View Post
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%
I'm not quite sure what your point is? My financial advisor is saying 5-6% returns and your 10 year returns are 5.5%. Oops. Now I see. You were replying to someone else and supporting my advisor's assumptions. Thanks.

Last edited by eric-the-red; 11-14-2012 at 02:07 PM.
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  #74  
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Re: My Escape Plan - Insights Wanted

I couldn't wait till 60 or 65 because my dad died then of a heart attack. In fact all men on both sides of the family die early.

So I retired at 48.

Am I regretting the 10 years less money? Nope!
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  #75  
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Re: My Escape Plan - Insights Wanted

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Originally Posted by Capt.aaron View Post
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.
Thanks Capt. A - Hadn't seen that site and will check it out.

The more I read, the more I think the boat I will buy will be more of a coastal cruiser than a true blue water boat. I'll still look for a sturdy boat w/ a shoal keel and a skeg hung rudder, but I think I'll probably be fine with a 90's Benneteau or Catalina (35-40 ft) for the type of sailing I'll likely do - mostly very patient island hopping in the carrib/mexico - ie, waiting for great weather windows and having a boat that's fast enough to take advantage of them. Doing this for 4-5 years and if I want to go overseas, I'll deal with trading up to a more capable boat. These boats can be had for $50k or less and many have much of the equipment I'm looking for.

will check that site out tonight.

Really appreciate all your input!
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  #76  
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Re: My Escape Plan - Insights Wanted

Quote:
Originally Posted by eric-the-red View Post
I'm not quite sure what your point is? My financial advisor is saying 5-6% returns and your 10 year returns are 5.5%. Oops. Now I see. You were replying to someone else and supporting my advisor's assumptions. Thanks.
I have no intention of harping on you. Just be wary than the financial advisory business is loaded with unscrupulous salesman. Be particularly cautious if they are talking you into a life annuity product. They make TONS of money on them and the contracts can be so complicated that your initial returns can evaporate.

If he/she is saying you can buy a current bond yield over 5%, it's has to have a catch. I am sure that the referenced 401k returns were not from currently purchased bonds. Apples and Oranges.

Think of it this way. If you get screwed, your cruising plan is going to be over. Be very very careful.
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  #77  
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Re: My Escape Plan - Insights Wanted

Thanks Rock Dawg! It's a work in progress.

Thanks for your input too Minn! My financial advisor is a pretty trustworthy guy. He also advised against annuities. But the 401k rollover is not an insurance or "sell your 401k" type thing. It's a rollover with govt stipulations for how much I can take out and mandates I take out X amount annually - so it's still technically an "annuity".

He is saying that taxable bonds (which I wouldn't have to pay taxes on due to low income I'll be earning) and they would get me close to 5% and additional stocks should get me a bit over, of course realizing there are risks to all of it.

Does that sound right?
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  #78  
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Re: My Escape Plan - Insights Wanted

I haven't read all the responses to your post so pardon me if I'm repeating what's been said. Or maybe I'm contradicting something that's been said, in which case don't pardon me.
I hope you aren't looking at your 401-k/IRA as part of your cruising kitty. If you're worried about turning 50 now, wait till you've turned 65 and haven't saved anything. Don't touch your retirement savings--add to it regularly, even if it's a small amount. Use a fee-only financial advisor. Not somebody who will buy and sell on your behalf and charge you each time he does it. You get better advice that way, for less money, and come out the same in the end. Be diversified. That means mutual funds, not stocks, if you're on a tight budget. And I could be wrong, but I think I recal that you can transfer a 401-k to an IRA without a penalty. Just don't withdraw it.
I hope you've done some shopping at marine supply places. Small stuff costs a lot, and it adds up fast. Likewise marina dock and storage fees should you happen to need to store it for a season. Don't forget to buy tools. And know how to use them.
Get in shape if you aren't already. Sailing can be work, especially single-handing. Haul an anchor up by hand, move from the cockpit to the bow and back before the course changes, loosen a rusted fastenner. Get thin, flexible and reasonably strong. Lots of perfectly good sailors aren't, I know, but I'd bet most of them have bigger budgets than you.
Be mindful of the living space you end up with, and of how tolerant you are for 'camping' vs just living in a tiny house. The more room you have, the fewer things you have to move every time you want to find something, and the fewer times you whack your head or elbow in the process.
Good luck.
John V.
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  #79  
Old 11-14-2012
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Re: My Escape Plan - Insights Wanted

It's funny the difference between northern sailors and the tropic birds. Sometimes this thread sounds more like something from stocknet.com not sailnet. Northerners are alway's refering to this " season thing" as if there is a sailing season. peh, Eric, you have the money, the training and the attitude. Go get the boat and fill it with some food and sail south dude, it's actually that easy.
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  #80  
Old 11-14-2012
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Re: My Escape Plan - Insights Wanted

I'm not an investor but according to this site: US Corporate Bonds Indexes - Bloomberg

Investment grade is 3.35% and high yield is 6.9 if I'm reading it right
So a mix could average out to 5 yes?

Last edited by davidpm; 11-14-2012 at 11:50 PM.
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