Push me over the edge

[Soundhaven]

Well, you didn't say "Stop me now."
You said, "Push me over the edge."

So, I think you know in your heart what you want to do and are awaiting validation, justification, or whatever from other people in order to take the concrete steps necessary to make your dream come true.

Don't wait for a push.

[TPG]

The one thing we can't get more of is time. Make the most of yours is the best advice you will ever get.

[JPA Cate]

Originally Posted by Hoosiersailor

So I have been a member here is 2015 and have been dreaming of cruising for years. My wife and I have taken several bareboat trips in the BVI and she is onboard with living on a sailboat full time but in all honesty, this is my dream not hers. So here we are; 52 years old and my 401K is in good shape and barring anything terrible happening in the market will be plenty when we reach retirement age at 65. If we sell our house we could have somewhere in the neighborhood of 450-500K. After buying a boat we could have 375 - 400 when we leave the dock. Can we go now or should we wait a few more years and save some more? My thought is prepare and get everything sold by next spring and depart. We really only plan to winter in the Bahamas/Florida and spend the summers in NC/Chesapeake. Maybe venture down to Mexico. We could try it for a year or 2 and if it doesn't work out go back to work.

But I am concerned we don't have enough saved to get us by for 10-12 years if we like it and it is hard just to quit a good job. Also we are both in good health with no issues but health insurance scares me and I can't really nail down what that will cost us monthly. Just looking for some advice.

I think your paragraph above is the core of your concern. It sounds on your planning on their being no change to the Social Security legislation. Such changes have happened in France. Why not the US? Health care costs do not seem to me to be diminishing. So, how would you cover the years to age 70 if the eligibility age for Medicare rose from 62 to 70?

Thanks...

Here are some more questions for you to answer for yourself: Are you an experienced skipper? Does your wife feel confident as a sailor? Are you an experienced boat maintenance worker?

It is that if you have not yet been a boat owner for a while, you may well be underestimating how much time is spent either working on your boat, or waiting for others to complete jobs on your nickel. This is a problem for many new boat owners.

If you both are outdoorsy, and you enjoy traveling, I think both of those are good predictors for success as a cruiser. Also, being a flexible personality helps a huge lot. I learned to enjoy cruising, but it really isn't for everyone. One early problem I had to work through was getting used to not being paid for my time. If your good lady will have to give up a super job to go cruising now, when she is likely to learn to enjoy cruising, she may have later regrets. At least, it's something to discuss together. So is the issue of whether you can retain a pied a tierre to return to if you turn out to not enjoy the cruising life.

You are about the age Jim was when we left. He was very ready: lengthy sailing background, years of boat ownership; a good mechanic; and as a physicist, the electrical stuff was easy for him (kind of outside my grasp). We did not have our financial ducks lined up well enough, and after our first year's cruise, went back to work, got married, sold my house, and left again after about a year and a half.

However, if you find you are under funded, at your ages, how sure of getting appropriate jobs are you? If you are secure about your re-employability, I'd encourage you to give it a go, if the answers to the first three questions are yes. But if not, I would suggest an easier entry to exploring under sail. Get a popular, easy to re-sell 27-30 ft. sailboat and explore coastally, getting used to paying berth fees and doing oil changes, and re-wiring jobs, living on the hook and learning about different bottoms, and see how you enjoy traveling under sail, and living in a cosy space. You can do this with weekends and vacations. If it is all go after a year, then go with the freedom plan. If not, create a new plan. One year of training for the rest of your boating life is not bad.

Imho, all the questions I've asked you are fruit for discussion with your wife. And, if she is not already a sailor (as opposed to a passenger), then I would suggest, also, sailing lessons for her that are separate from you, and preferably taught by someone empathetic. Once you are offshore, you will be on watches, you will need your sleep, and to be able to trust her to keep you and the boat safe while you are asleep. Women often learn better from female teachers, but not always. We are sometimes competitive with each other and/or with our spouses, and it is that latter that can create a not so positive dynamic if we take classes together.

Ann, a very long term cruiser (check my profile for my experience up to when I joined CF), who will not push you at all, but will try to get you to answer a few questions that will help you consider what you will do

[Icarus]

Don't go, work longer, save more, one day you'll wake up old and without dreams but with plenty of money in the bank.
Life can be unfair.
Why asking strangers what to do with your life?
Good luck
,

[goboatingnow]

Originally Posted by Icarus

Don't go, work longer, save more, one day you'll wake up old and without dreams but with plenty of money in the bank.

Life can be unfair.

Why asking strangers what to do with your life?

Good luck

,

That’s the post to listen to

[Flagfish]

Schedule 6 months off work 2-3 years in the future, buy a smaller 30' boat now and plan to cruise for 6 months. It might not be your thing and you will be glad to not have committed fully. It also may be your thing and you'll find the smaller boat serves your purpose.

In either case, you will not have made a giant cash outlay and lifestyle disruption before testing the waters.

We did this with a $12k, 27' Albin Vega at age 44 down the west coast then to Hawaii and back, with many great years sailing local waters. But... we decided fulltime cruising is not our dream in actuality.

[carlosproa]

Originally Posted by Hoosiersailor

So I have been a member here is 2015 and have been dreaming of cruising for years. My wife and I have taken several bareboat trips in the BVI and she is onboard with living on a sailboat full time but in all honesty, this is my dream not hers. So here we are; 52 years old and my 401K is in good shape and barring anything terrible happening in the market will be plenty when we reach retirement age at 65. If we sell our house we could have somewhere in the neighborhood of 450-500K. After buying a boat we could have 375 - 400 when we leave the dock. Can we go now or should we wait a few more years and save some more? My thought is prepare and get everything sold by next spring and depart. We really only plan to winter in the Bahamas/Florida and spend the summers in NC/Chesapeake. Maybe venture down to Mexico. We could try it for a year or 2 and if it doesn't work out go back to work. But I am concerned we don't have enough saved to get us by for 10-12 years if we like it and it is hard just to quit a good job. Also we are both in good health with no issues but health insurance scares me and I can't really nail down what that will cost us monthly. Just looking for some advice. Thanks...

Looking at your math - looks like your budget is $75K for a sailboat including refit cost. There are experts on this site that can point you to the right boat. My humble opinion is that will put you on a decent $50K monohull and $25K for refit, spares, small upgrades.

Based on the bottom of paragraph, rent the house so you can come back to it if this does bot work out.

Renting a boat in the BVI does not truly reflect living on board. You do not mention size and type of boat in the BVI. Living on the hook with the occasional marina visit is what most people with a certain budget are expected to do.

Buy a 30 to 36 ft monohull in the east coast of Florida. There are thousands of them for the taking.
You will be in Bahamas in 8 hours ready to explore.
See how it goes and learn how a thrifty life goes with your and wife’s personality.

If after the season you find the boat too small, too cramped, too uncomfortable, to lively; you may want to reconsider your situation but at least you will have options to come back to the grind, sell the boat, and keep the house.

If you can put up with all above then you can take your time honing your skills and looking for the size and model that will really compromise both of your needs. Think of the first boat as boot camp boat.

[rexposeidon]

So I didn't finish my plans yesterday so today on my schedule is to go back to them today and finish them tomorrow.

NOW is all the time you have. Yesterday is gone. Tomorrow isn't guaranteed.

There are thousands of songs, and poems and marinas full of regret and someday plans.

Only the man in the mirror has your answer.

[goboatingnow]

I’ve earned anything from 80K a year to over 300k a year. Your lifestyle shrinks and expands according and there seems little in the difference ( mostly the cars get bigger !!!, several Top spec Range Rovers etc ) or the kids work out ways to spend it anyway.

Right now I’m sitting in a little waterside cafe on Ithaca , the berthing in free , the chicken baguettes are €3 , the swimming is off the boat. It’s 36 degrees C and the living is easy !!

Life can be made simple and cost effective. Make your lifestyle suit your budget

I’m home in November and I own a €1100 euro white fiat van ( which is brilliant for humping things around )I’m leaving the kids €0

[James M B]

I can hardly wait, just turned 62, waiting for hurricane season to be over then headed for the Gulf coast to head out.
After reading most all the info shared on this site ( a lot of GREAT info) I ordered a new Highfield Dinghy today. New Tohatsu 9.8 in my office standing by, dodger under construction, Xantrex solar system ready to be installed. Final doctor visit next week, sent my passport for renewal so it won't expire while I am out there. Will stop watching Sharkfest on Natgeo, covered the Bahamas yesterday, very discouraging, but would rather be eaten by a shark than killed in a rush hour traffic accident. Time is Flying by!!!

[LargeMarge]

Q -- February 2021.
A -- July 12, 2021
.
'...barring these self-evident continuing series of cascading catastrophes in global markets...'
.
I cannot answer for you.
For me and mine, as quick as we are able, we get out of fiat currency and into durable tangible goods IN OUR POSSESSION.
We cannot invest in the market of stocks/bonds because they fall outside our requirements for:
* durable
* tangible
* IN OUR POSSESSION
.
During the American real-estate collapse of 2008, how much equity -- the difference between perceived value and mortgage(s) -- went away?
.
Q -- How long did that 'vapor-ware' take to re-gain its 2008 value?
A -- It hasn't... inflation is preceding it by several dozen percent... so far, half-way through 2021.
.
What will happen to your wealth during the next few months?
Impossible to predict.
What happens between today at 52-years old, and whatever year you retire?
Impossibler to predict.
.
If I was me, I would cash out of everything I cannot physically hold in my hands.
I would trade fiat currency for skills and experience in potential occupations of high value during the remainder of this global economic collapse.
* welding and fabrication
* engine repair and maintenance
* security
* gardening and foraging
* Third World (no meds, no sanitation, no anesthetic, etcetera) medical procedures
You seem like an intelligent person, I am certain you can develop a tomorrow niche based on your today skills.
.
The 'new normal' looks nothing like anything we experienced in our lifetime.
.
I think believing in 'the market' is not realistic.
.
.
My answer may be far more grounded in the reality of experience than hopeful wishes about bankers in New York city or any other 'market' respecting my finances.
Let me explain without re-kindling an unavoidable grief:
* 2003, at 48-years old, my Very Significant Other got sick.
* 2009, buried.
.
Within a week after diagnosis, we sold everything and took off traveling.
Did it help?
I believe it did.