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Go Back   SailNet Community > Out There > Cruising & Liveaboard Forum > Living Aboard
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  #11  
Old 10-07-2013
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Re: Real Cost

Questions
So basically, what are people seeing for say slip cost? $10 - $12 per foot per month

maintainence? 10% of the replacement cost of the boat per year.

incidentals related to keeping the boat running? I dont know, see above.

Living costs compared to an apartment? about the same? more? less? never done more than a week but probably a little less. After all you don't need a lawnmower.

Fuel? Traveling I know i'll use some... but being a sail boat how bad can it be? Its nothing, in the big picture.

Anything I'm leaving out? Tons of stuff I am sure.



Now-- onto my favorite part - the unsolicited advice!!!OK, I like your taste but --911's suck. They suck. And 20 years does not make a retirement unless you are Bill Gates. Not even close.

Get a GTI. They effing rock. Hatchback for your gear.


Furthermore, I highly recommend a Triumph Bonneville T100. You can't go wrong with that bike.

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Last edited by Sal Paradise; 10-07-2013 at 07:15 PM.
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  #12  
Old 10-07-2013
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Re: Real Cost

if he gets a -real- 911.. something aircooled. It will hold it's value and even appreciate over time as they slowly disappear from the land and the watercooled ones take over completely.

I do agree with getting a "Starter boat" now and just go sailing. It's why I got my Sea Sprite
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  #13  
Old 10-08-2013
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Re: Real Cost

My head was in a different place when I was 25 and I thought I had it pretty well together compared to a lot of my peers. But retirement was something I barely gave a thought to. I was setting a little aside but not a ton.

Kudos to you for thinking that far ahead.

A few years ago my wife and I sat down with a financial planner. It was a difficult process. He had us go through an exercise that basically asked us how much money we'd need per month to live the way we'd like to live in retirement. We also had to take a stab how long we expected to live and when we'd like to retire.

Of course like many people, my wife and I wanted to be able to travel. A boat didn't really enter the discussion at this point. As we went back and forth over how much money we'd need and what we might have to give up now in order to get there, the financial planner finally stepped in and told us that he had some good news. He said you probably don't need to worry about having much money set aside for traveling once you reach 85 or so. You probably won't want to. We were like "Huh? Why wouldn't we?" He told us that the reality is that most people don't feel physically up to long trips by then and are content to stay at home.

I didn't really think of that as "Good News".

You're an engineer and I'm sure you can do the math. You're much more on top things than I was at your age and maybe more than I am right now. But you do have to consider the end of your life when thinking about retirement. Living on a boat might be great into your 70's, and maybe early 80's but make sure you think about what happens after that and plan accordingly.
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xort has a spectacular aura about xort has a spectacular aura about xort has a spectacular aura about
Cost varies widely afloat just as it does ashore.

You ask about marinas but many cruisers anchor to save money.

In todays dollars a minimal budget with a small boat would be around $15,000. Moderate range typical for many cruisers is $25,000 to $50,000 but the sky is the limit.
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Re: Real Cost

Xort, that 50k/year was about where I figured including everything else and a boat payment for doing it today. If I call it 100k in 20 years (little more then 3% inflation) If i can make 5% above inflation in "retirement" that's around 2million. A surprisingly easy number to meet actually when given 20 years and... good returns.

unimacs, I think planning out 20-25 years is good enough right now, I can wait on figuring out what to do at 90.

Sal, I currently have an 06 Sprint ST. I'll post a picture at some point when I'm not at work. And I drove a GTI... nice car, not my thing. Drive a Saab 9-3 now, so along the same lines kinda sorta.

Mad, saddly it will be a liquid cooled one. However for no better reason then it's a 911 I don't expect the value to take a total plumit any time soon. Making it actually not half bad of an "investment" as far as cars go. As to getting a starter boat, anything that I don't leave in the water would require me to move and get a truck. Both of which screw with the long term plan based on the increased cost. There is a sailing club in town though with smaller boats that I plan on joining. Heck at the price there it isn't worth owning.
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Re: Real Cost

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Originally Posted by redrider7202 View Post
unimacs, I think planning out 20-25 years is good enough right now, I can wait on figuring out what to do at 90.
My point is that when you're trying to figure out what your burn rate is going to be, you can't assume it's going to be the same when you're 50 to 70 as when you're 70 to 90.

Our financial manager told us that we can expect to not be traveling much in our 80s and 90s so that saves some money. That's the financial upside. The downside is that you will most likely become increasingly reliant on other people for your care. Maybe family members and friends can do that, maybe not. You have to plan for the maybe not contingency and that can get expensive. Lots of people are buying long term care policies once they reach a certain age. That may be difficult for you to do at 60 if you're on a fixed income. You could purchase a policy right before you're about to retire and it probably would't be that expensive. You just need to allow for it.

Note: You have to think about your family health history. If all of your relatives are basically healthy until 70 and then drop dead, a long term health care policy is a waste of money. And in your case if you remain a bachelor you don't really need to worry about one spouse's health care costs decimating the amount of savings available to the other spouse.

Last edited by unimacs; 10-08-2013 at 11:38 AM.
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Old 10-08-2013
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Re: Real Cost

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I'm 47, take my advice, scrap the Porsche and buy something newer that requires very little maintenance ...
+1

There is always something to fix/install on a boat. You'll find that you'll end up dividing your time between two high maintenance projects and end up with not enough time to enjoy either.
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Re: Real Cost

Quote:
Originally Posted by DRFerron View Post
+1

There is always something to fix/install on a boat. You'll find that you'll end up dividing your time between two high maintenance projects and end up with not enough time to enjoy either.
The Porsche and boat won't overlap. I MIGHT still have a motorcycle depending on where I am. The Porsche is just to satisfy the need for speed. Heck by the time I execute this plan I'd be surprised if either exists in a gasoline form. Why I'm doing it now.

Unimacs, everything goes to plan, I won't be burning my savings at all... in fact I don't plan on doing the "retire" thing unless that is the case. Basically my job will go from sitting at a desk doing the engineering thing, to living on the boat, managing the investment account and paying myself from those gains. Hopefully I can keep that account value approximately constant. Rather then the seemingly typical plan of drawing that account down. Specifically my plan is to live off the previous year's gains.
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Old 10-08-2013
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Re: Real Cost

There are people getting by on $5k a year on the hook, scraping their bottom themselves and eating simply.

Low end is usually about $20k a year.

But buy a 50ft cat and plan to stay in marinas then $20k won't cover your marina bill and it will be WAAAAY more than that in parts of the Med.

BTW keep the ride. Life is to short to drive something boring. Mine was a Ducati and I spent to much but boy when those Termagonis were wailing it was all worth while.
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Re: Real Cost

Personally I love the triple at WFO. I have only made my peice with one twin out of the handful i've ridden, which was my friends SV1000.

And thanks for the data point. Sounds like for doing it today I'd be comfortable calling it 50k a year for a 30something (maybe 40) foot monohull.
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