How big was your pile of cash when you left the dock? - Page 4 - SailNet Community
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post #31 of 92 Old 02-11-2016
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Re: How big was your pile of cash when you left the dock?

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That's just me and it doesn't bug me if others chose a different approach.
Yes, I get that, I have no need to look for approval for my choices either.

But my original question was "Where are you going to live when this cruising thing is all over". Maybe selling a boat in the US will pay for a house? It certainly won't where we live, I'd be lucky to buy a vacant lot in any half-way decent spot in NZ with the proceeds from selling my boat. And what about the contents?

And renting until I die doesn't appeal. And one still needs the contents . . . .


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post #32 of 92 Old 02-11-2016
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Re: How big was your pile of cash when you left the dock?

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But my original question was "Where are you going to live when this cruising thing is all over".
I don't know and will consider based on the places I travel to while cruising. If things go as planed I'll still have about 25% of my starting assets at 70 (not counting the boat) and Social Security will be around $4000/mo. I'm sure I can find a place with that.
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post #33 of 92 Old 02-11-2016
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Re: How big was your pile of cash when you left the dock?

When it's time to move back onto land , I plan to find an apartment somewhere in the banana latitudes. Matagalpa is inexpensive and the weather is nice year round.

No wife, no kids, no debt.
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post #34 of 92 Old 02-11-2016
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Re: How big was your pile of cash when you left the dock?

Our house goes up for sale next month. If it sells....and that's a big "if" but we are keeping a positive attitude about it, we plan to retire and hope to be headed south on the ICW by fall.

We will not have a pile of cash to speak of. We bought our house at the height of the housing boom. It went upside down (a LOT!!) the next year and has remained so for the past 10 years. On top of that we took a substantial home equity loan at the time of purchase because it was an 80 year old house that needed substantial repairs and upgrades. Between what we have paid off in principal and the slight rise in housing prices we will be lucky if we make enough off of the sale to pay off both of those loans. C'est la vie. It turned out to be a wonderful place to live for the past 10 years, but a horrible investment. We don't really care if we walk away from the settlement table without a dime, as long as we can walk away free. That's how committed to leaving we are. We have no desire to hang onto it after we retire. We could never rent it for enough to cover the two mortgages, and we have no plans to ever live in Maryland again (oh hell no). Besides, being "unencumbered" is one of the main attractions to cruising for us.

Our boat is paid for and will have just undergone a major refit, so it shouldn't need anything for a little while other than routine maintenance. We have some future upgrades planned, but those are already figured into our monthly/yearly budget, and none of them are essential so if something happened that we couldn't do them it wouldn't stop us from cruising and enjoying it. Everything necessary to make the boat comfortable and safe will have already been done. Everything else comes under the category of "nice to have." There will be enough stashed away for a rainy day, an unexpected emergency, and occasional trips to see the kids, and that's enough for us. But we are not depending on our savings to contribute anything to the cruising budget.

We are, however, fairly well prepared in terms of yearly retirement income. My husband took an early retirement of sorts from the Navy (for those who are familiar, VSI) back in 1993. That will go on until he is 76 years old and is a nice little annual stipend. In addition we both will have decent pensions from the school system where we now work, and two social security checks. My husband just turned 66 so he starts drawing full social security next month and also has Medicare. I am only 62 so mine won't be nearly as good, and I'll have health insurance coverage to pay for the next three years, but "tis enough." With the 5 checks combined we are budgeting to live on 60-70% of our after tax income, including ongoing upgrades and maintenance to the boat. While not a fortune, it is actually a pretty generous amount of money which should give us a comfortable lifestyle. Truth be told I am confident we could live on the social security checks alone without ever touching the pensions or VSI, but we are planning to enjoy the experience to the fullest.....we have no desire to be members of the $500 a Month Club. We have worked too hard and waited far too long for this.

We're not really thinking much about having a house to come back to. The next phase for us could be a trawler, it could be an RV, a cabin on a mountain,a condo in a senior community in Florida, or who knows what. We'll jump off that bridge when we get to it, but I hope we don't get to it for quite some time to come. We want to enjoy this ride for as long as we're able.

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post #35 of 92 Old 02-11-2016
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Re: How big was your pile of cash when you left the dock?

Regarding keeping a house, many of us never want to live again where we used to own our houses - as shown by several posts. We are one of those, and we have no idea where we would live if we have up the boat. It certainly wouldn't be where we used to live, and still owning that house over the years would only be a further burden to deal with when we move off the boat - simultaneously selling a boat and a house in different parts of the world while trying to secure living arrangements in yet another area.

Those that own houses where they would like to end up eventually would see this differently, of course.

Like others, we have no fear of not being able to find living arrangements if we move off the boat. Home ownership is actually a rare thing in most countries, and you would be surprised at the affordability of rentals in many fantastic areas in the world. Spend 6 months in Antigua Guatemala, then 6 months in Cuzco Peru, then...

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post #36 of 92 Old 02-11-2016
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Re: How big was your pile of cash when you left the dock?

In my case, the cash pile was not nearly enough as I wanted, but more than enough to make the trip. At the end of the trip, the cash pile was depleted a bit, but because I worked a couple nights a week while cruising, I usually didn't have to dip into the pile very much until I encountered breakdowns. I guess I could have worked more, but I had so much fun working, and cruising that I might have never returned home to my wife if I had any more fun than I did. Yes, I have one of those kind of jobs that is more fun than most folks enjoy - I'm a musician and singer, I get to sing to the ladies at Tiki Bars, waterside restaurants, etc..., and I get paid to do this. Plus I get tips, free drinks and often, a free meal, on top of the pay - what's not to like?

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Re: How big was your pile of cash when you left the dock?

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In my case, the cash pile was not nearly enough as I wanted, but more than enough to make the trip. At the end of the trip, the cash pile was depleted a bit, but because I worked a couple nights a week while cruising, I usually didn't have to dip into the pile very much until I encountered breakdowns. I guess I could have worked more, but I had so much fun working, and cruising that I might have never returned home to my wife if I had any more fun than I did. Yes, I have one of those kind of jobs that is more fun than most folks enjoy - I'm a musician and singer, I get to sing to the ladies at Tiki Bars, waterside restaurants, etc..., and I get paid to do this. Plus I get tips, free drinks and often, a free meal, on top of the pay - what's not to like?

Gary
Oh please. A sailor AND a singer? Jimmy, is that you? lol
There are very few things I wish I had that I don't, and musical talent is one of them. Color me envious, and please stop rubbing it in. lol.
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post #38 of 92 Old 02-12-2016
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Re: How big was your pile of cash when you left the dock?

What a ridiculous question to ask.
Would you ask someone about their net worth and how long they are going to live?
I have met cruisers that live on 4K a month and others 1.5K a month, it takes what you have and what kind to lifestyle you can afford.
Would you leave the dock with less than 1 Million invested , 2+? whats enough?? Depends on you ..................
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post #39 of 92 Old 02-12-2016
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Re: How big was your pile of cash when you left the dock?

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What a ridiculous question to ask.
Would you ask someone about their net worth and how long they are going to live?
.
You waited 11 years to make this your first post, can't wait to see the follow-up in 2027

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Re: How big was your pile of cash when you left the dock?

thats why we have 2 ears and one mouth...
there are 2 posts!
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