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Go Back   SailNet Community > Out There > Cruising & Liveaboard Forum > Living Aboard > I think I've been snookered
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Thread: I think I've been snookered Reply to Thread
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Topic Review (Newest First)
11-11-2007 09:38 PM
HoffaLives I get the part about the little money adding up to big, but being a hipster costs money; berets just keep going up and since Doc Martins are no longer made they have gotten sooo expensive.
11-11-2007 12:29 AM
merttan
It's always the thing we don't think about...

Quote:
Originally Posted by tdw View Post
What was that about cold showers and tearing up $100 bills ?
That was me... Boating definitions...
My sympathies Hoffa... Seriously, that is some hard times to face with.

You can use my 22 footer any time, if you wish...

And please do check on that insurance policy for terms. I bet you can find something hiding somewhere... Ask a lawyer or insurance occupied friend to go through the whole insurance policy.
11-11-2007 12:00 AM
Shack
Quote:
Originally Posted by HoffaLives View Post
'Cause I bought the myth of simple life aboard. I'm seriously thinking of selling my beloved CS 36T, which I've owned a paltry three months. ... .....

Maybe I'm not looking at it right (a definite possibility), but if so, I would sure like someone to show me how I've got it wrong.
Hoffa,
You're doing it. You have it right. Keep going.
10-16-2007 01:15 AM
wind_magic Hoffa, I wanted to add one more book as a recommendation, it's one of my favorites. This is a book I often give to children in my family when they get to an age that they start working, it's called "The richest man in Babylon", and I highly recommend it. It's the same kind of thing as the book mentioned above. I'm including a wikipedia entry about this book, it's an older book but well written in a easy style I think you will like. It's really a financial philosophy book.

The richest man in Babylon

It's essentially all about buying your freedom.

Edit, I want to add another thought to this even though I have already bored everybody enough haha, but I will anyway. One of the things I really like about this basic financial wisdom is that it's also very easy to figure out what things are worth to you, if you are really willing to pay what it costs to support them. Here are a few examples.

I like lemon lime sparkle water, they sell it at the store for 3x 2L bottles for 2$us. And I probably drink 3 of them a week. So the math is real easy, 2$us/week x 52 weeks = 104$us/year to enjoy them. Using interest on capital only, it's a simple multiplication by 20 (assuming 5%) = 2080$us. So that's basically saying that to enjoy the smooth refreshing taste of 3 bottles of lemon line sparkle water a week for the rest of my life I need to go out and earn 2080$us. Which, you know, fine, I like it, that's fine if I do that, if it's worth it to me I can do whatever I want.

Another example, say it costs 30$us/month to have someone change the oil in the car. So 30$us x 12 x 20 = 7200$us. Is it worth going out and earning 7200$us to have free oil changes for the rest of my life ? Yeah, maybe, but maybe not, I don't really mind changing the oil myself, but it probably costs me 20$us to change it myself, so even changing it myself I need to go out and earn 4800$us just for the privilege of changing my own oil for free the rest of my life. I might not mind working for that extra 2400$us to have someone else do it.

Or maybe you like talking on a cell phone a lot and that costs you 150$us/month on average, so that's 150$us x 12 x 20 = 36000$us. WOW! And maybe you didn't think talking on the cell phone was expensive. To be able to talk on the cell phone all the time for the rest of your life, is it worth going out and making 36000$us ? Maybe. Or maybe it's time to start talking to the family with email.

Or one more situation, you are standing in line at the checkout in the gasoline station and see that there is a candy bar that you want. You know it costs 0.50$us less at a food store, and 0.75$us less if you got it wholesale. Pretending you eat something like that every day, is it worth 0.50$us x 365 x 20 = 3650$us to pick up the candy bar at this convenient location instead of buying it at the grocery store and bringing it with you every day ? And is it worth another 0.25$us x 365 x 20 = 1850$us to buy it at the grocery store instead of getting it wholesale and bringing it with you every day ?

Anyway, I just thought I would add that little bit on because I was thinking about it.
10-16-2007 12:23 AM
wind_magic
Quote:
Originally Posted by HoffaLives View Post
Hmmm, that assumes I have some. Which I don't 'cause it all went into the freakin' boat!!

I know how to make money. These days you have to try real hard not to make money; the economy is blazing and boomers are throwing around dough like popcorn at a re-release of Blazing Saddles.

However, I have to figger out how to make money and love what I'm doing.
I love to do a lot of things, and I can live with making money, but even after all this time I don't know how to fit them together. I thought that by living aboard it would free me up and that I would be done with that crap. Hah.
It's the wife's fault.
Time to open another beer and hit myself across the head with it once it's empty.
Hoffa, I know where you are coming from. That is all kind of the point of the thing, that these folks cut their expenses to live on the interest from their savings. That does NOT mean they had a lot of savings, they don't - the numbers they have in the book were really low by U.S. standards, certainly living under the poverty line. I think they said the more recent numbers were like 1700#uk, which I don't know what that is now, but at the time they were writing that was probably like 3k$us/year. That's THREE thousand $us/year. So they were probably talking about savings 20 times that, or about 60k$us, they didn't say that but that's just a number I throw out there as a guess.

Of course they had to cut back living on that amount, but I was impressed by how well they seemed to live with a little extra effort. Of course they cook, they don't eat as much meat as I would prefer in my own diet, and there are some other things they do that I am not sure I would want to do. But still, in the end, they do not have to work anymore if they don't want to, so long as they keep their expenses low enough to live on the interest from their money. And they didn't seem to be hurting for anything, I mean that amount of money comes out to be like 25$us/week for each of them, and everything comes out of it. So I guess a big luxury for them would be to go and see a movie or something. But can you imagine having that kind of freedom ?

I think the thing that impressed me was how happy they were to go to work when they decided they wanted to. They didn't even think in terms of "I'm going to make 10k$us", they thought more in terms of "This will mean an extra 1$us/week interest income, so we can buy another dozen eggs every week". Those words are mine, not theirs, but you get the idea. Edit, oh and I should add that I think in my reading that I remember they did adjust for inflation too, so their savings did not dwindle over time.

Edit, I'll add one more thing. What I liked about this thought beyond the specifics is that there is just something cool about knowing your money can get you something. I mean, if you can save even a small amount of money, even if you just save 5k$us, then that means you have an income of about 250$us/year, which even with that small amount of money means that the world will feed you rice and beans for the rest of your life and you don't ever have to work another day in your life for it. That's the kind of thinking in the book, just living not only within your means, but really trying to save your capital and only live on interest.
10-15-2007 10:04 PM
Freesail99
Quote:
Originally Posted by HoffaLives View Post
Time to open another beer and hit myself across the head with it once it's empty.
If your hitting yourself in the head, you may want a V8, lol.
10-15-2007 09:49 PM
HoffaLives
Quote:
Originally Posted by wind_magic View Post
The essence of it is to cruise inexpensively on the interest generated by your savings.
Hmmm, that assumes I have some. Which I don't 'cause it all went into the freakin' boat!!

I know how to make money. These days you have to try real hard not to make money; the economy is blazing and boomers are throwing around dough like popcorn at a re-release of Blazing Saddles.

However, I have to figger out how to make money and love what I'm doing.
I love to do a lot of things, and I can live with making money, but even after all this time I don't know how to fit them together. I thought that by living aboard it would free me up and that I would be done with that crap. Hah.
It's the wife's fault.
Time to open another beer and hit myself across the head with it once it's empty.
10-15-2007 05:46 AM
wind_magic Hoffa, just wanted to recommend a book I have been reading called "Voyaging On A Small Income" by Annie Hill, ISBN 978-0901281005. This is a new book for me and is a very good read. It is the first book that I have read in a while that kind of captured the essence of what some of my own feelings have been, the same kind of philosophy of living that is driving a lot of what I am doing. The essence of it is to cruise inexpensively on the interest generated by your savings. It's focus is on not having more than you really need to live a simple happy life. Very good book, worth the price of admission, and written from a woman's point of view so it might appeal to your better half.
10-12-2007 02:14 PM
RandyonR3 Hoffa
the year thing is a great idea, The wife and I did the same and in the first year, I wanted to leave this boat behind more than once.
I brought that agreement up to the wife a year or so ago. (we've now been on the boat, full time for 4 years ) The wife started to giggle and we spent the evening talking and remembering about that first year and it seams so long ago....we made it through and you will to..
10-12-2007 02:05 PM
bushrat I think you hit the nail on the head when you said you were looking for the simple life. Unfortunately, looking after a boat can be far from it. I am considering living aboard. I would always try to use the KISS philosophy, keep it simple stupid. Boats can be complex and very $$$, but they don't have to be.
My wife and I bought a remote place in the woods just after we were married. We had no phone, electricity, just the dream of running a small outfitting business in the summer to pay the bills. Life got in the way. We started a family, took a mortgage to pay for modern convienences like generators, solar panals, running water, wiring, and additional space for the kids. Well mom needed a good 4X4 to work out and pay for the mortgage. More stuff and more stuff was needed to maintain the the "new" simple life. We started out with oil lamps and a wood cookstove and happy. We ended up with all the expense and trappings of modern convienences which in the end we couldn't sustain. After 10 years we sold out and moved into town. Now I feel like I'm living in a hotel room. Remote controls, no wood to chop, just flick a switch for this and that, how real is that. My new boat is bringing be a bit of sanity back.
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