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Discussion Starter · #1 ·
Like many on here we are approaching our retirement, May 2016. If we retire then we will have a good pension and money in the cursing kitty so income is fine.
The question is this... May 2016 I will have up to $75k total in hand for the boat, $50k for the boat and $25k refurb. If I work one additional year I can put close to $100k in the bank for the boat. That would take us from say a 37 1990's boat to maybe a new Jeanneau 349 or Beneteau 35.

I'm very handy and can take of most of the medium to small work myself on the upkeep.

Do you go as soon as you can with a nice serviceable boat or work one more year for a new cruising boat?

Thanks for the input...
Carlton
 

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So many variables make it a very personal decision.

Just to clarify: are you saying that you'll be able to put 100k in the bank in one year?

Or, an additional 25k. to get to 100 ? If the former and were it me, I'd work another year.
 

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Wind and pie move my boat.
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I'm thinking if you work another year & buy a new boat . The first year you sail you'll lose the money to depreciation & as has been pointed out.....you can't buy time . Having said that , I would never seek the counsel of others on such a personal life decision . Everyone's life is different . Only you can decide what yours is .
 

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Bristol 45.5 - AiniA
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Like many on here we are approaching our retirement, May 2016. If we retire then we will have a good pension and money in the cursing kitty so income is fine.
Mine has been a cursing kitty at times.

My reaction is that I would not want any brand new boat since you get killed on the depreciation as you pull away from the delivery dock. If you can't see any specific, functional advantages of the more expensive (not necessarily newer) boat I would go earlier.
 
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The question is this... May 2016 I will have up to $75k total in hand for the boat, $50k for the boat and $25k refurb. If I work one additional year I can put close to $100k in the bank for the boat. That would take us from say a 37 1990's boat to maybe a new Jeanneau 349 or Beneteau 35.
The extra money, hell yes. Necessarily jumping to a new boat? Eh... I'd still trade some repairs and upgrades for having most of the depreciation wrung out of the boat.
 

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Wandering Aimlessly
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Have you actually done any boat hunting? Could be just the boat, at just your price is out there right now (they ain't gonna get any cheaper). If ya can't find what ya want, keep working until you do.
 

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Old soul
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This is a question only you can answer. If it was me I'd be thinking:

I can go now in a boat that I am perfectly happy with, which will do what I want it to do, and is affordable now.

OR​
I can work another year and get a more expensive boat that I will also be perfectly happy with, and it too will do what I want it to do. The difference will be, it will be somewhat shinnier, and maybe less immediate maintenance.

Time is something you can never get back. And lets face it, the older we are, the less of it we have going forward. For me, the answer is clear, which is why we're leaving in a <$50K boat.
 

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Discussion Starter · #11 ·
So many variables make it a very personal decision.

Just to clarify: are you saying that you'll be able to put 100k in the bank in one year?

Or, an additional 25k. to get to 100 ? If the former and were it me, I'd work another year.
Be additional money for a total of $175k...

I'm currently leaning toward something like a Sabre/Ericson 38's, or if I dare to say it a Hunter 376. I just don't see having a new boat is going to make cruising better or make us enjoy it more. Working on the boat with my wife beside me, beats work at a job any day of the week.
 

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Being self employed, I chose to continue working as long as possible, which keeps the sailing kitty full. And, I guess if I were working for someone else, and in reasonably good health, and had $75K available for a boat, I would jump ship, buy a good, ocean-going, cruiser, a used one that has just returned from a transoceanic cruise that has all the bells and whistles.

As stated above, you cannot buy time - I'm living proof of that. I'm 74 years old, still work 5 to 7 days a week, and probably will never retire till someone pulls the sheets over my face. But, I can also tell you my life has been one hell of a ride. :)

All the best,

Gary :cool:
 

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Discussion Starter · #14 ·
Seems to me the OP should listen to this wise advice ;).
He is listening, he just wants to make sure it's not coming from a fool..:laugher

We will both be 52, house paid for and enough retirement income to have $4,500 per month to live on...

Sounds like it will workout fine.... May 31, 2016 sounds like a good day to retire.
 

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Rafiki 37
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Work the extra year, while hunting around for the perfect boat for you (while not getting hung up on age or size) and then buy it when you find it. The year you spend working you can spend weekends on the boat, refitting and getting to know it inside and out
 

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As has been hinted at above, I don't see the advantage of waiting for a 'new' boat, though perhaps waiting for a 'better' boat may be practical to some degree..

As sexy as some of these newer boats may look, the trend today has veered towards ballroom accommodations and away from usable, practical storage spaces.. looking at a quality, well maintained older boat should save you money and leave you with a better setup overall.

With the market in the state it's in these days, I think you could do very well - maybe 'split the difference' - find 'the boat' that fits your plans and then schedule your moves around that figure; maybe an extra 3-4 months of work would get you there.
 

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52 is very young, I'd probably stick around, bank the 100 k and buy a used Sabre 362 in good shape. Though, the exact choice of vessel is another discussion. How far afield and where you plan to cruise will help dictate that choice. I like my shoal draft and mast under 60 ft for the east coast of the US. Tankage could be better.
 

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I've been asking a similar question of myself lately. For me, it has come down to if I want to keep working for another year or two or not. I work shift work and have been working too many hours on nice days and the 'ole bod is not liking it. I'm ready to bail so I've decided an older boat in good shape will be the ticket for me and the wife. We're not getting any younger (57) and even if I need to do some fixing on the boat, at least I'll have time to do so. If I was doing something I really enjoyed doing and not having to work 70 hours a week, I would stay two more years though.

Kevin
 

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Like a lot of you, I've been playing this out myself....work another year or two or take off now? Certainly every person needs to make their own decision based on their particular circumstances....for me the decision is to stick with a $20k boat that I love (that has also had another $20k put into it) and work for another year or so to be able to enjoy finishing a couple of ongoing projects at work, with every penny I save in that time going into the cruising kitty so that I can stay out there longer when I do go.
 

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Fortunes come and go. Time only goes.

Go now. Plus, I think the running expenses of the more expensive boat might be unbearable.

[One wonders how you can expect to save $100K in the next year but have so little in savings from your prior years...I would expect millions in the bank by now.]
 
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