I'm taking a one-year boat building course in England; after that I will be purchasing a wooden boat and go cruising. My boat building studies will cost around $25,000, I'm setting $20,000 to buy the boat, $10,000 to outfit and make it seaworthy, and $10,000 as my initial kitty. Am I making the right decisions? Is the investment in education worthwhile? Im assuming that it will help me repair my own boat and find work along the way.
Sue and Larry respond:
You appear to have an adventurous few years ahead of you. We believe that investment in education is always a good thing. It gives you something to either fall back on or press ahead with to follow your dream.
A wooden boat will definitely provide you with the most economical means of transportation, seeing that you will be able to provide your own maintenance and upgrades;. $20,000 is not a lot of money to spend for a boat, and upgrades are always more than we think they are going to be. But where there's a will, there's a way, and it sounds like you know what you want in life.
Having $10,000 in your cruising kitty is a good start, knowing that you will have to stop to work along the way to supplement at times. In our first year, we spent $13,000 for the two of us, knowing now that it could have been done on half if you are determined.
Best of luck!
Larry & Sue