[blutoyz]

I figure I have about 20 years left before I want to hang it all up and the way I spend the only "retirement" I will be able to afford is one with little to no tax
I can't get her to buy in to the concept of a 36-45 footer to live aboard in RI during the summer and take down to FLA for the cooler weather. It seems like the most econimical way to retire to me.

The reason for this post is to get some opinions of those that already do that to some extent and is it as economical as it seems from a desk chair.

What say you...

 

[jameswilson29]

Here is a novel concept: ask your wife what she would like to do in retirement! Where would she like to live? What would she like to do?

Treat your wife the way you would like to be treated and communicate your wishes as well, so the two of you can discuss and negotiate, instead of reacting to one parties' demands and expectations.

Every weekend I practice this by asking my wife what she would like to do on Saturday and Sunday. I also tell her what I would like to do. Then we discuss and compromise. I also remember that I want her to be happy...

After all, if your wife is not happy, you will not be happy. This much you learn as a divorce lawyer.

 

[blutoyz]

My title was more "tongue in cheek" than looking for marital advice...LOL. I was just throwing it out there to see what it really costs to be a snowbird.

I have been married for 29 years but you never know it all


Thanks

 

[jameswilson29]

You would be surprised, then, to see how many marriages end with the empty nest syndrome. They stayed together for the sake of the kids. Now, the youngest goes to college. The two of them look at each other and decide that is not what each wants to see for the rest of their remaining lives. It happens...

Those are the toughest divorces, because they have to divide a lifetime of accumulated property and/or debt and settle support when one party might have stayed home to take care of the kids and household. To the outside world, they looked like they would stay together til death. Lots of resentment and difficulty there.

I wish you luck if there is any truth in your post.

 

[travlin-easy]

My wife will not let me retire! Well, that's not true. She said I could retire three days after I'm dead.

Her idea of retirement is traveling throughout the country, visiting friends in other states, and me doing all the driving. This coming January she will get a dose of what this actually entails and just how expensive this can be in comparison to cruising. In six months of cruising, total cost, food, fuel, booze, marina fees, restaurants, repairs, I spent, on average, less than $1,200 a month. The cost of renting a house in the south Florida Keys is that much a week.

Good luck,

Gary

 

[TerryBradley]

I have two boats. Actually three. One I keep here in Ohio on a trailer and a Catalina 27 and a Hunter 34 in Oak Harbor, Washington. My wife does NOT sail. I retired a few years back and she retired a couple of years ahead of me. I couldn't get her to move to the PNW so I told her; "That's fine. You can stay here in Ohio but I'm going to spend part of the year sailing in what I consider to be a sailor's paradise." She visits me a couple of times while I'm where I love to be and I spend part of the year where she likes to be. I usually spend three to four months at a time on board. So far has worked for us over the last four years. But I sure do miss my dog while I'm gone!

 

[Greenhand]

Why does this lifestyle mean no tax to you?

Your income is still taxable, your boat is likely to be subject to property tax in many states...

Try this: for the next 20 years until you are ready to hang it all up, max out your contributions to your retirement account and live frugally. You might even find that you are financially ready to go in 10 years.

My best advice for living frugally? Find a plan that you can both be on board with. Our plan has changed several times, but since we were both on board with each of the plans, it was easy to limit how often we eat out and make other delayed gratification choices.

 

[Don L]

The reason for this post is to get some opinions of those that already do that to some extent and is it as economical as it seems from a desk chair.

What say you...

My recommendation to forget about getting a real answer on a forum to this question. All that is going to happen is the same old division between the same old players on how much it will cost.

You are much better searching for blogs for boats and people doing similar to what you feel you want to do. Then either reading though it looking for cost info or contacting the owners and asking the question.

Far as the wife question, only your wife can answer.

 

[MedSailor]

See if you can get her fired, then she has to retire with you.

What it costs is completely dependent on the people involved. I cruised for over 4 months on less than $500/month, but that's not for everybody. In fact, it's not even for me now...

MedSailor

 

[wdwright1967]

My wife doesn't like to sail but that's ok I sail were I want to go and she will fly in and join me. At least that is the plan now, subject to change without notice. :laugher:laugher

 

[zeehag]

y'all complain about wifee not a sailor.....i have a boat and i dont have a hubby to rag on to sell the boat..rodlmffao...i have my own boat and i actually sail the damnthing and love it.
me n gato .. how can gato complain about stuff?? he makes flying teeth tackles......
and so, in my next nautical life..(cannot see having any other kind) i will mebbe have a mate with whom to share this awesomest of lifestyles. and all the scenery . and all the work lol.....aint any blue and pink jobs when you are sola...just chores.....and waaay tooo much gorgeous scenery to process........

 

[caberg]

Our plan (thoroughly discussed and agreed upon--don't worry James) is to "retire" into some other non-desk-job within 10 years or so, when we'll be mid-40s, and our son is approaching the end of high school. For now, we both work, live frugally, save as much as possible, and invest.

We are working now to build enough of a cushion to fall back on, and something that will continue to grow for when we get really old.

Neither of us ever want to "retire" though, at least not until physically unable to work. The thought of not working at all, just sounds boring and depressing after some time. Ideally, we would like to travel and live in different places, but working on and off to cover basic living expenses will be a part of the plan. Personally, I would feel lost and get depressed without the structure and purpose you get from working. I just want to do something that is outside, more hands-on, and which will give me a variety of different experiences with different types of people.

There was a really cool guy in his 50s who worked at my marina 2 summers ago. He rode his motorcycle up from Texas, stayed in a campground near the marina, and said he just always wanted to check Vermont out. He left that fall on to his next adventure. We were inspired by him.

 

[rockDAWG]

I can't tell you what to do. After I upped my life insurance to $2MM and she is the only beneficiary. My wife always supports me to go sailing without her.

Me: Oh Dear, hurricane is on its way. I am going to stay home for another week.
Wife: Oh, don't worry. Weatherman is always wrong. Besides, you have a life raft, CG will pick you up.

 

[vega1860]

I figure I have about 20 years left before I want to hang it all up and the way I spend the only "retirement" I will be able to afford is one with little to no tax
I can't get her to buy in to the concept of a 36-45 footer to live aboard in RI during the summer and take down to FLA for the cooler weather. It seems like the most econimical way to retire to me.

The reason for this post is to get some opinions of those that already do that to some extent and is it as economical as it seems from a desk chair.

What say you...

20 years is a mighty long timeline, it seems to me. A lot can change in that time. But it is never too soon to start. I had a 10 year plan that took 12 years to complete (The plan did not originally include getting married)

We have found cruising costs us about 80% of what we were spending as live-aboards while working full time. In fact, our income is 80% less but we still manage to save 20% each month and donate to charity as well.

Taxes are different in every state of the US. Most have income tax, property tax, sales tax or some combination of all of the above. Alaska, actually has no direct taxes on individuals and, in fact, pays out an annual dividend to bona fide Alaska residents. US citizens cannot escape the IRS. No matter where in the world you may be you will have to pay income taxes to Uncle Sam.

 

[goboatingnow]

I wonder why you think your wife should have the same plans as you. Maybe she hates boats and hasn't the heart to tell you.

consider changing your plains, potter about in a small boat on your own day sailing , then go home to your wife

no boat is worth a wife or partner

dave

 

[SloopJonB]

I can't tell you what to do. After I upped my life insurance to $2MM and she is the only beneficiary. My wife always supports me to go sailing without her.

Me: Oh Dear, hurricane is on its way. I am going to stay home for another week.
Wife: Oh, don't worry. Weatherman is always wrong. Besides, you have a life raft, CG will pick you up.

When the kids were at home I was worth WAY more dead than alive. Once they left I dropped my life insurance.

I figured that was the best way to ensure my life.

 

[rockDAWG]

When the kids were at home I was worth WAY more dead than alive. Once they left I dropped my life insurance.

I figured that was the best way to ensure my life.

Arggh.... every household has its own climate. Well... the problem with this logic is you can't leave home and go sailing.

 

[hellosailor]

blu, the wife might be right.

For the cost of a boat, you can buy a condo in Florida and have more space and less upkeep costs. And for half or a quarter of the slip fees and annual maintenance, you can pay the condo maintenance and property taxes.

So, retiring onto a boat, in the expensive boating markets of Florida, where "living aboard" is the subject of hot legal actions and legislation and may not be possible in 20 years in any case, just may not make sense compared to retiring onto a fixed location. Which, of course, could probably be sublet for profit the rest of the time.

Moving into a boat if you want to be boating is one thing. Moving onto a boat because it is a cheap place to live? Not so much these days. Looking less likely with every passing year, sadly.

Florida is also starting to mumble about global warming and rising sea levels. They're actually changing building codes and infrastructure requirements in places like the Gold Coast (southeast) because the locals are starting to get pissed off about regular flooding in the streets and in twenty more years...let's just say they might have to impose an income tax in order to pay for some changes. (Oh my.)

 

[MarkofSeaLife]

My father was 65, just finished work, and waiting 6 months for my Mum to retire so they could sail away on their boat.

He died of a heart attack.

Mum retired all alone.

I got Dads boat.

I was the only winner.

I learned from Dad and retired at 48 on my own boat.

Double winner.

 

[rockDAWG]

I got Dads boat.
I was the only winner.
I learned from Dad and retired at 48 on my own boat.
Double winner.

Lucky Dawg....