How much cash to retire?

[BlackHeron]

You gotta pass it to see what's in it...


They passed it, and now we ALL gotta play by these same 10,000 pages of rules. Don't bitch as long as we are not breaking them, at least not to us. Complain to Nancy and Barry.

We didn't.get to keep our doctor, even though we liked him, so we all got lied to. Suck it up and learn to make the best of the game the way the crooked board was set up. That's all we can do.

[Joli]

Originally Posted by DeValency

Sorry - nothing aimed at you personally. Looks like something went wrong at the search etc. or you may want to go through a broker, past employer health benefits broker etc.

Past employees at my company (in Mass), pay per couple at their early 60's premium of approx. $1,400/month with max $11,000 out of pocket per year. Now, I know Florida health (sick) system is totally screwed up, but this can't explain a $56,400 annual premium per couple.

It is what it is but like most government programs, there are winners and losers. We're on the losing side of this program but fortunately Trump removed the mandate to purchase these overpriced policies. Because of this we are able to buy temporary policies for around $1000/month. They cover literally nothing until the deductible of $10,000 is met but that's ok with us because our original plan was to buy catastrophic plans until the ACA became the law of the land.

None of this would really matter to us because we had planned to be out of the country for the next few years. We planned on having Cigna worldwide insurance but the closed borders forced us to sail back to the East Coast. We're sailing south to the Caribbean this fall and hopefully other country borders will open.

The election will be interesting for us from a financial point of view. If Biden wins and the borders remain closed to sailing we'll probably try to find a property out of the country. $56,000 that would be required for ACA policies could be used to rent or buy in Mexico, we likely would not stay in the US if possible.

[Paul L]

Originally Posted by Dulls

Quid is a pound so our figures match. If you are cruising, the simpler the boat the better. You dont need a fridge really and if you cant row or walk there you dont do it. Lots of fun to be had in the area where you anchor. Anchoring not marinering . ..........

If you believe that this is the way to long term cruise, maybe you should just consider long term, single-handed camping in a forest you can walk to. It'll be even cheaper and you won't have to consider anyone else onboards desires.

[Joli]

Originally Posted by Paul L

If you believe that this is the way to long term cruise, maybe you should just consider long term, single-handed camping in a forest you can walk to. It'll be even cheaper and you won't have to consider anyone else onboards desires.

My in-laws cruised for 11 years with a very small and simple boat, no fridge or freezer.

There are all kinds of cruisers out there, $2,000 boats to $20,000,000 boats. We've met a bunch, must are fun to be with.

[valhalla360]

Originally Posted by wingssail

I am not going to lecture people with barely enough to live on that they should live the life of an ascetic for 50 years so they can save 15%. I think that is too tough.

A bit of cause and effect going on.

Realistically, anyone disciplined enough to save 15% isn't going to be making minimum wage for long. It's a math example to show how if you are smart about budgeting, you can do well even on a mall income.

Of course, a couple working 40hr/wk at $10/hr is going to be pulling in around $40k/yr and paying minimal income tax. That works out pretty close to our annual expense budget. We live a pretty nice lifestyle and could easily trim out 15%, so not sure where "barely enough to live on" comes from.

[valhalla360]

Originally Posted by BlackHeron

Hope springs eternal. The government would never do that to Meeeeeee!

Politicians are incredibly predictable. They would never do anything that gets them kicked out of office.

Messing with social security...they will sell their kids to a traveling circus before they do that.

[Mike OReilly]

Originally Posted by Dulls

Quid is a pound so our figures match. If you are cruising, the simpler the boat the better. You dont need a fridge really and if you cant row or walk there you dont do it. Lots of fun to be had in the area where you anchor. Anchoring not marinering . Dont buy a boat with a teak deck and stay away from complex rigs like mast in furling etc. You can eat very well on a budget if you cook yourself. You dont need an electric heads. We have a limited but reliable income, but I am running out of time. I think it can be quietly done for about 1500 gbp per month. You need to fix and maintain as much as you can yourself. A cheap GPS gives the same position as a flash one.

It certainly can be done for a lot less than most here suggest. But it requires a certain lifestyle, and demands that you make certain choices. Some perceive that this makes it hard, or "like camping." My boat life is neither of these things, but others will see it their way, and that's just fine.

BTW, I wouldn't fixate on things like a fridge or heads. I cruised with a previous boat that had no fridge. My current one does. Either way works. It's how you use it that matters. And I also have teak decks on my boat .

Yes, you can certainly cruise on 1500 gdp/month. That's more than we spend for two of us. But again, it depends on the choices you make, and the lifestyle you pursue.

We too have a limited, but reliable income. This, along with a very modest nest egg to manage bigger financial bumps, is what we have. You say "I am running out of time." My view is, we're all running out of time. If you're ready, then go now.

[BlackHeron]

Some people won't ever give up all of their soft creature comforts even if it means being trapped in a land cage and forced to work to finance that cage until one is too crippled and sick to enjoy moving into the cruising life.

Priorities. They are different for all of us.

[Paul L]

Originally Posted by Joli

My in-laws cruised for 11 years with a very small and simple boat, no fridge or freezer.

There are all kinds of cruisers out there, $2,000 boats to $20,000,000 boats. We've met a bunch, must are fun to be with.

Definitely agree that we see a wide range of cruisers out there. All the way from rush around world spending unlimited, to sit in one spot and slowly watch your boat and body degrade. To each their own. If you look at cruisers who actually cruise long distances and do it for many years, they tend to have setups that are fairly beyond simplistic camping digs.

[Mike OReilly]

Originally Posted by BlackHeron

Some people won't ever give up all of their soft creature comforts even if it means being trapped in a land cage and forced to work to finance that cage until one is too crippled and sick to enjoy moving into the cruising life.

Priorities. They are different for all of us.

Exactly . It's all about knowing what is truly important to you. There's no one right answer for everyone. As long as people are making the decisions with 'eyes wide open,' and understanding the trade offs, then it's all good.

[Stu Jackson]

Originally Posted by johnboyrtw

...............
.............................
If the democrats take over then do-not count on getting any SS. .............
.......................

I think you got that one bassackwards.

[Sailor 99]

Originally Posted by Mike OReilly

It certainly can be done for a lot less than most here suggest. But it requires a certain lifestyle, and demands that you make certain choices. Some perceive that this makes it hard, or "like camping." My boat life is neither of these things, but others will see it their way, and that's just fine.

BTW, I wouldn't fixate on things like a fridge or heads. I cruised with a previous boat that had no fridge. My current one does. Either way works. It's how you use it that matters. And I also have teak decks on my boat .

Yes, you can certainly cruise on 1500 gdp/month. That's more than we spend for two of us. But again, it depends on the choices you make, and the lifestyle you pursue.

We too have a limited, but reliable income. This, along with a very modest nest egg to manage bigger financial bumps, is what we have. You say "I am running out of time." My view is, we're all running out of time. If you're ready, then go now.

There is no question that if your thrifty you can cruise on 1500 US a month. You better be handy too.



But the chance of my lovely wife going with me without refrigeration and a working head are as close to zero as the chance of the sun rising in the west tomorrow.



Then there is the question: do you want to be world cruisers and never come home or do you want a home base.



If you want a home base and your going to lay the boat up in the summer then you need more than 1500 a month.


It really boils down to your plan and what you want in life. Everybody is different and there are lots of people.



I know I would not be happy on 500 a month sitting at the back of the anchorage afraid to leave the boat in case I spend 2 bucks.

[Paul L]

Originally Posted by BlackHeron

Some people won't ever give up all of their soft creature comforts even if it means being trapped in a land cage and forced to work to finance that cage until one is too crippled and sick to enjoy moving into the cruising life.

Priorities. They are different for all of us.

I would guess that someone who is going to be successful cruising in a very basic and simplistic way would have already been living a basic and simplistic land life. So there wouldn't be much to give up.

[DeValency]

Originally Posted by Joli

It is what it is but like most government programs, there are winners and losers. We're on the losing side of this program but fortunately Trump removed the mandate to purchase these overpriced policies. Because of this we are able to buy temporary policies for around $1000/month. They cover literally nothing until the deductible of $10,000 is met but that's ok with us because our original plan was to buy catastrophic plans until the ACA became the law of the land.

None of this would really matter to us because we had planned to be out of the country for the next few years. We planned on having Cigna worldwide insurance but the closed borders forced us to sail back to the East Coast. We're sailing south to the Caribbean this fall and hopefully other country borders will open.

The election will be interesting for us from a financial point of view. If Biden wins and the borders remain closed to sailing we'll probably try to find a property out of the country. $56,000 that would be required for ACA policies could be used to rent or buy in Mexico, we likely would not stay in the US if possible.

Enjoy the cruising plans as long as you can.

There was no mandate to purchase overpriced plans. Trump did not make any change, in spite of his endless efforts. The ability to shop for a much cheaper premiums, regardless of any pre-existing conditions, as you do @ $1,000/month is one of the main achievements of the ACA. Before that, you could end up with nothing, if not insured through an employer.

The ACA is not perfect, but when the country is making one huge, single critical change since President Johnson administration rolled Medicare in the 60's (with the same level of pushback from the other side), you need many years to get to what civilized countries in Europe with health outcomes that are about 30 above the US - watch the facts: https://www.apha.org/topics-and-issues/health-rankings
We are ranked #34 in the world in life expectancy, right behind Lebanon(!) and worse in all other health measures.

There are many reasons for that but the main are the lack of public health coverage and access, especially at poor areas and states - the reason? Leaving health insurance to the "free market" only. Politicians supported by drug companies and physician, hospital networks, are blocking Medicare from negotiating drug prices and healthcare services and the private insurers just follow and roll the costs on the poor consumer - me and you...

Personally, I can live with that and more import, happy to know that less fortunate 20M Americans are now fully covered.

- My single insurance premium is approx $750/month with a max $6,000 out of pocket, all preventive care and other basic services are 100% covered. Thankfully I chose to live in Massachusetts and not in Florida! When retire one day, Medicare plus a modest supplement insurance will continue to provide the reasonable coverage. The ACA and any extensions, as planned by the DNC, will hopefully assure even better health coverage by that time.

[Mike OReilly]

Originally Posted by Dark Horse

There is no question that if your thrifty you can cruise on 1500 US a month. You better be handy too.

Absolutely. This life becomes very expensive if you're paying someone else to do all the maintenance and repair work. Other key factors is proximity to a dock, or indeed any urban or touristy place. These are the places where money flows. Stay away from them and it's easy to live inexpensively.

Originally Posted by Dark Horse

But the chance of my lovely wife going with me without refrigeration and a working head are as close to zero as the chance of the sun rising in the west tomorrow.

I have a fridge with a small freezer. I certainly have a working head. And my wife loves it.

As I said, these are not the primary things that determine a high or low budget. In fact, a decent fridge can be seen as a good way of being frugal. It makes managing leftovers or preserving excess (like when you get a big fish or a good deal on perishables) easier. Certainly keeps my beer cold, which is a darn good thing .

Originally Posted by Dark Horse

Then there is the question: do you want to be world cruisers and never come home or do you want a home base.

I think this is a big one. Our lifestyle would not work if we had to maintain a land home. We couldn't afford it. Many do by turning the land home into a revenue generator. We chose not to do that.

But we do only live on the boat for 1/2 of each year. There are alternatives to owning property. You just have to be creative.

Originally Posted by Dark Horse

It really boils down to your plan and what you want in life. Everybody is different and there are lots of people.

Exactly. Know thyself. Everything is a trade-off. My driving force has been freedom. I've set up a life to maximize this, but at the cost of other things which many would not choose to pay. That's fine. Eyes wide open.

Originally Posted by Dark Horse

I know I would not be happy on 500 a month sitting at the back of the anchorage afraid to leave the boat in case I spend 2 bucks.

It's unfortunate you characterized it this negative way. You know... you don't have to put other people down just to justify your choices.