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HAWESEMOTO 11-26-2012 08:45 PM

annual cost of crusing Carib 2012?
 
Hello My wife and I are getting ready to cruise to the Bahamas in 93 Morgan Catalina 381cc . Spring of 2013 . We are selling our house storing memories and moving aboard. We are just guessing about the annual costs and wondering how long our money will last.We are just beginning our retirement at 55 are healthy and have about $800,000 to go through? My wife wants to retain the capital and live off the interest. any help undertstanding true costs would be appreciated.\

Apprehensive in Canada.
Thanks.

lajimo 11-26-2012 08:54 PM

annual cost of crusing Carib 2012?
 
Recent book "a sail of two idiots" may be worth your while. Can get at practical sailor. The book tracks a couple who recently spent about three years doing the Carib as cruisers/liveaboards. Lots of good info on costs. I seem to remember them running through a total of $50k/year.

Minnewaska 11-26-2012 09:21 PM

Re: annual cost of crusing Carib 2012?
 
The answer is enormously variable. There are cruisers that live without refrigeration on 25ft makeshift boats and I know of one that did so on a 60ft Gunboat catamaran with absolutely every luxury.

As general rule, $50k per year would be a nice budget, assuming none is taken up by a mortgage and its all cruising money. However, no way you can count on making $50k per year on $800k in this economy. If you start stealing principal early, it makes it even more difficult to catch up later.

Still, you have a nice nest egg.

Do your own budget.

Food
Clothing
Boat insurance (research this to be sure you can get it at all)
Medical insurance
Boat maintenance (you will be hard on her, so plan more than current experience)
Foreign country immigration fees (research here http://www.noonsite.com)
Travel home costs (most fly home for a holiday or respite)
Entertainment
Communication (email, cell phones, whatever)

If you are going to do this for an extend period, expect to budget upgrades in laptops, chartplotters, whatever. Can you imagine still sailing with the same stuff you had 15 years ago?

Best of luck....... Enjoy the cruise.

HAWESEMOTO 11-26-2012 10:40 PM

Re: annual cost of crusing Carib 2012?
 
Ok maybe not as clear as I could have been. I am looking for cost estimates to govern ourselves. ie $100.00 per day not including repair . Cost of Living recent experiences.

Bartasaurus 11-26-2012 10:57 PM

Re: annual cost of crusing Carib 2012?
 
Quote:

Originally Posted by HAWESEMOTO (Post 953609)
Ok maybe not as clear as I could have been. I am looking for cost estimates to govern ourselves. ie $100.00 per day not including repair . Cost of Living recent experiences.

Code:

www .bumfuzzle. com
These folks sailed around the world over the course of about four years. Their blog is a good read of how a couple with virtually no experience got things done and learned along the way. Quick look at their site shoes they have a book for sale. Also, here is their monthly budget from the round the world sail:

Code:

www .bumfuzzle. com/Pages/Main%20Pages/Cost.php
A lot of reading (I'm only about 8 months into their first year) but it's a great read.


Note: You'll have to copy and paste the links and reassemble them, I only have a couple posts on sailnet so I can't post clickable links yet.

HAWESEMOTO 11-26-2012 11:02 PM

Re: annual cost of crusing Carib 2012?
 
I know I have heard it before " just go!"

MarkofSeaLife 11-26-2012 11:04 PM

Re: annual cost of crusing Carib 2012?
 
Quote:

Originally Posted by HAWESEMOTO (Post 953609)
Ok maybe not as clear as I could have been. I am looking for cost estimates to govern ourselves. ie $100.00 per day not including repair . Cost of Living recent experiences.

$100 per day incl cost of repair is on the upper median for cruisers.

Some other forum did a good poll a while ago and the figures were aprox average was $20,000 pa
I think 16% were about $30,000 or more.

So $100 per day is good.

It gives some marina time, some rent a car, some restaurants, some inland travel, very few trips home by plane etc.

The biggest factors for Americans are all insurances. You guys love expensive insurance and some couples I know are $10,000 pa incl boat and health... That's a fair bit.
Medical in the Caribbean is cheap, compared. I don't have medical insurance, and only liability on the boat.

HAWESEMOTO 11-26-2012 11:07 PM

Re: annual cost of crusing Carib 2012?
 
WOW Thank you Bart. Just what I was looking for!

HAWESEMOTO 11-26-2012 11:11 PM

Re: annual cost of crusing Carib 2012?
 
Thanks all it does give me some confidence. Beer , rum and wine being a major expence.

killarney_sailor 11-28-2012 01:35 AM

Re: annual cost of crusing Carib 2012?
 
As was pointed out, it can vary enormously. We did it for about $1500 a month a few years ago on a 45' with full boat insurance and no health insurance (we are Canadians and paid as we go in the Caribbean and could fly home for major things. A lot depends on what you are after in terms of lifestyle - do you want expensive restaurants, visits to marinas (there aren't that many in any case). Can you do your own repairs of most things.

One good thing is that you have a large amount of capital if you need it - for example if you needed a major engine repair or a new piece of gear. Many folks have a monthly budget that is adequate but nothing in reserve and that would worry me.


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