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Go Back   SailNet Community > Out There > Cruising & Liveaboard Forum > My 3-5 Year Plan toward the Cruising Life
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Thread: My 3-5 Year Plan toward the Cruising Life Reply to Thread
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Topic Review (Newest First)
02-03-2011 02:46 PM
CanadianRocky
Quote:
Originally Posted by treilley View Post
Looks good. I think you may find that getting the boat ready may be a bit more. My boat was already cruising and cosidered turnkey. It is a 1997 model but I will spend $30k before I go. Some of that is my labor. A lot is new sails and rigging which I will pay a sailmaker.

You could still do well with a recent model Caliber 40lrc for about $250k and still have $50k/year to live on for 5 years.
There does seem to be a lot of "one mans dream" is "another mans eyesore" when it comes to boats. A turn key sailboat, turns out to be a Turn Key nightmare. My market area will be North America and with enough patience I believe I will be able to find the boat I am looking for. I am sure there is the same thing in Sailing as there is in Mountain climbing, Summit Fever. I have never had summit fever and that has helped me significantly in Business when it comes to correct purchasing and good choice making. It is never a good idea to walk into a deal that you will not walk away from, for even the slightest reason. I have made some poor choices but have learned how to see them coming now.

A good business person is someone who makes more good choices than poor choices. Right up until she is in the water and I am underway, I will use the same formulas as I do in business.

"If it sounds to good to be true, it is"

"Luck is for those who need it, the rest of us use skill-sets, if not our own, then other people's"
02-03-2011 02:26 PM
Tim R.
Quote:
Originally Posted by CanadianRocky View Post
It is just thinking right now, but it works out like this.

$6o to 70,000 for the boat, I particularly like the Tayana 37.

30 to 40,000 to get her ready for sea.

$3000 to $4,000 a month for expenses once underway.

Total budget is right around $500,000 for boat and lifestyle.

I would not need to sell my house to make this happen and I have enough aside for retirement if and when it happens. I also have enough to live more than a cruising lifestyle, like mountain climbing, etc.

Sort of like, if I get to Africa, I want to be able to climb Kilimanjaro. When I am in Mediterranean I want to be able to see the sights from more than the cockpit of the boat.

And there is always feeding the photography beast.

Both of my girls are set up now. One is six months away from her Masters in Geology and the other is on her way to being a Business Manager. I don't have to worry about them anymore. That is nice.
Looks good. I think you may find that getting the boat ready may be a bit more. My boat was already cruising and cosidered turnkey. It is a 1997 model but I will spend $30k before I go. Some of that is my labor. A lot is new sails and rigging which I will pay a sailmaker.

You could still do well with a recent model Caliber 40lrc for about $250k and still have $50k/year to live on for 5 years.
02-03-2011 02:17 PM
CanadianRocky
Quote:
Originally Posted by treilley View Post
Just out of curiosity, what formula did you use to come up with a 10 year cruising budget?
It is just thinking right now, but it works out like this.

$6o to 70,000 for the boat, I particularly like the Tayana 37.

30 to 40,000 to get her ready for sea.

$3000 to $4,000 a month for expenses once underway.

Total budget is right around $500,000 for boat and lifestyle.

I would not need to sell my house to make this happen and I have enough aside for retirement if and when it happens. I also have enough to live more than a cruising lifestyle, like mountain climbing, etc.

Sort of like, if I get to Africa, I want to be able to climb Kilimanjaro. When I am in Mediterranean I want to be able to see the sights from more than the cockpit of the boat.

And there is always feeding the photography beast.

Both of my girls are set up now. One is six months away from her Masters in Geology and the other is on her way to being a Business Manager. I don't have to worry about them anymore. That is nice.
02-03-2011 02:00 PM
Tim R.
Quote:
Originally Posted by CanadianRocky View Post
I am fortunate that the sale of the company will make it possible for me to buy the boat, rig it and pay for 10 years of cruising.
Just out of curiosity, what formula did you use to come up with a 10 year cruising budget?
02-03-2011 01:54 PM
vega1860
Quote:
Originally Posted by CanadianRocky View Post
Even my motorcycle only has a single seat.
We couldn't agree more

His V Twin


Her V Twin


Unfortunately, we had to sell them when we departed on our cruise. We loved our bikes but they are easily replaced and the next one is always better.

Priorities.
02-03-2011 01:51 PM
Tim R. If you are waiting to sell the house, do it now or you will be waiting a long time just to get back to what it is worth today. We sold ours last summer and bought our boat. We will live aboard for a few years to get her setup properly and learn all the systems so when we are ready to drop the lines we can go.

We continue to make mortgage payments to ourselves so we will have money down the road to either move back to shore and keep the boat or continue cruising.

You will not have fun cruising if you are always worried about a renter destroying your house. Even the best renters cause damage and then there is the maintenance costs that you will likely not recover.

As for toys, I would love to bring my windsurfer, kayak and mtn bikes but not likely. Maybe some folding bikes and inflatible kayaks. I could build a rack strong enough to carry the full size bikes and my 8ft sinker could likely be strapped to the solar panel frame. Might have to think more about this.
02-03-2011 01:34 PM
CanadianRocky I am fortunate that the sale of the company will make it possible for me to buy the boat, rig it and pay for 10 years of cruising. I will sell it to my employees for X amount of cash and a payment for 5 years for the remainder. I will also stay on as a consultant for them as long as they wish.

The house I would keep for the kids and maybe for when I am at a point where the water no longer draws me or I am just not able to physically do the work.

You are right though. A yard sale for everything but the most important of things. If I cannot get it below decks, I don't really want it.
02-03-2011 01:20 PM
aquaman9 My wife and I have talked about renting the house out but I do not want to rework our mortgage and I would like to use the equity to make my dream come true. Also I hate being a landlord. I guess I will have to see how the market is when its time to go. Some people that have allready done it say that if you decide to move back to shore that if you sell the home now that you might have to sell the boat at a bad time in order to purchase an new home when you return. The was the economy is right now in my area renting is a better way to go anyway. As for the furniture I'm ready to have a yard sale.
02-03-2011 12:39 PM
CanadianRocky
Quote:
Originally Posted by vega1860 View Post
Kudos for making sure your kids get an education.



I started off with all that stuff too. A surf ski, a long board, bicycle...

In the end I made the right decision: Anything that will not fit below decks stays on the dock. Because it will be in the way and will eventually be lost at sea in a storm. (NA if cruising is restricted to protected inland waters.)

We kept the bikes and we are glad we did. Two full size GT hard tail mountain bikes fit in the lazarette after removing the wheels. Spray them down with T-9 before stowing and they come out corrosion free.

There is NEVER room for a passenger
Non sailing necessity for me would be my camera gear ( + very powerful laptop and large monitor for Photo Shop ) and a bicycle. Also my back country hiking and climbing gear.

I would turn my home over to a rental agency and put everything into long term storage.
02-03-2011 12:30 PM
CanadianRocky
Quote:
Originally Posted by riversandbar View Post
My youngest one is in her last year of college... and then its MY TIME!!!

I have the same goal... 100K for the boat and outfit and looking at about an 38ft to single handle. And of course a room to put the kayak and fishing gear and scuba gear... oh and the windsurfer and maybe my longboard surfboard. Crap gotta make room for the bike to ride to town to get the beer.... well, guess there is no room left for a passanger. LOL
Even my motorcycle only has a single seat.
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