Critique My Plan

[boatpoker]

Originally Posted by Mara Mae

Respectfully, I find it hard to comment due to my fundamental difficulty reconciling how an individual with these financial means and professional resources asks for this type of input on this type of forum. More simply put, I am so dumbfounded, flabbergasted, and gobsmacked by your reflective situation I am quite literally speechless.

He is in this situation precisely because he has the wisdom to seek information.

[boatpoker]

Originally Posted by flightlead404

The only thing I can say is that being financially ready to retire and psychologically ready are two different things.

I hit my bug out number a couple of years ago, yet here I am working late on a Sunday

Maybe a good question to ask yourself.

+++ 10

I retired at 42. bored stiff in two weeks and went back to school and started again. This time I got it right. Boats and cruising became our full time business. 28yrs later and we neither see nor look for an end.

[Steamer]

Originally Posted by Beneath

The Plan:

Just start preparing Yourselves following these initial exercises:

https://www.cruisersforum.com/forums...ip-256306.html

[goboatingnow]

Originally Posted by boatpoker

He is in this situation precisely because he has the wisdom to seek information.

From whom exactly. Are there many CFs with 3/4 million income and a property portfolio offering wisdom !!!

[David Ess]

The plan is fine. But if you really like the lifestyle, youll probably end up getting a bigger boat.

[David Ess]

Originally Posted by Mara Mae

Respectfully, I find it hard to comment due to my fundamental difficulty reconciling how an individual with these financial means and professional resources asks for this type of input on this type of forum. More simply put, I am so dumbfounded, flabbergasted, and gobsmacked by your reflective situation I am quite literally speechless.

He's asking us to play 'devils advocate', a worthy exercise. And so far, not many citing faults to his plan. I recommended a bigger boat.

[David Ess]

Originally Posted by Yojimbo

I've consulted with Prof. Veblen economics at Stanford regarding your recent inquiry and apparently you have nothing to worry about.

The guy isnt actually of the 'leisure class' that Veblen wrote about. He works and will continue to. There are many such 'digital nomads' nowadays.

[boatpoker]

Originally Posted by goboatingnow

From whom exactly. Are there many CFs with 3/4 million income and a property portfolio offering wisdom !!!

Well apparently he's smart enough to pick the gems and disgard the jealous ones.

[Beneath]

Originally Posted by David Ess

He's asking us to play 'devils advocate', a worthy exercise. And so far, not many citing faults to his plan. I recommended a bigger boat.

Really, thanks - you hit the nail on its head; a request for devils advocate is the main driver for my post.

I do agree with your comment regarding a bigger boat as a concern - I do admit i am eyeing the 42ft market as well, but listed 40 because its our default choice to mitigate some of the risks i listed. Admittedly, we have only chartered 42ft cats. This weekend we hope to make a deep in person comparison at the Annapolis Sailboat Show between the 40 vs 42 ranges.

[David Ess]

Originally Posted by Beneath

Really, thanks - you hit the nail on its head; a request for devils advocate is the main driver for my post.

I do agree with your comment regarding a bigger boat as a concern - I do admit i am eyeing the 42ft market as well, but listed 40 because its our default choice to mitigate some of the risks i listed. Admittedly, we have only chartered 42ft cats. This weekend we hope to make a deep in person comparison at the Annapolis Sailboat Show between the 40 vs 42 ranges.

Thanks, but remember, being on board a long time is very different than weekends. Especially kids around and such. So washing machines, etc. And since you can afford it, I go more like 50' or more.

[Pizzazz]

My suggestion is to evaluate your plan in terms of what is best for the kids. Kids want to play with other kids and you do not get this on a boat. Especially after the age of 9-10, you want them to be around under kids, in good schools, otherwise the 529 savings will be worthless.

Next, sailing is only one way to spend time/money and it does get boring after a while, especially if you are in your 30s/40s. You can travel, see new worlds, culture, study, hang out with friends, etc. My suggestion would be to try power boating for a year (much more fun for the kids), sailing for a year (Caribbean), travelling to Europe for a year, Asia for a year, even the South Pacific, etc. You can purchase a boat at each of these locations if you really want to live on a boat. The kids will learn new languages, culture and interact with the rest of the world.

Good luck,
MV Ithaka

[Steamer]

Wud suggest to continue chartering scheme enabling to sail any place in the world every time, earning valuable experience with regard to boat You like (size ' "brand", etc ...), try Your best efforts with really different boats buying also skippered charters of a real gems (sorry for not saying so about mass production boats).

After You have grown to the condition of taking right decision (without asking others to advocate Your plans) You will either decline boat ownership or buy that the only boat You fall in love with to become her proud owner..

[mvweebles]

A boat's goal in life is to sink. Learning everything that's necessary to keep it from doing so is all-consuming even with hiring professionals. May be tough remaining productive.

I have worked remote for 20-years from all over the western hemisphere, including from aboard a boat. Helps to have a cushy job or having skills that are so specialized and in-demand that you can be 100% honest and call your own shots.

If I were in the position you described, I'd take a sabbatical and go soon. Home school the kids for two years. What a great legacy.

Check out Bumfuzzle.com (blog, not much youtube). They circumnavigate on a small cat, traveled in a vintage airstream, and are now in the Caribbean on a 42 foot trawler. They've been at with two kids for years. He's a financial planner of some sort.

So if you want a critique, it's that you've over-thought it. Go now. You're young enough to recover from a mistake. In the end, there are more regrets about stuff left undone.

Peter

[David Ess]

Originally Posted by Pizzazz

My suggestion is to evaluate your plan in terms of what is best for the kids. Kids want to play with other kids and you do not get this on a boat. Especially after the age of 9-10, you want them to be around under kids, in good schools, otherwise the 529 savings will be worthless.

Next, sailing is only one way to spend time/money and it does get boring after a while, especially if you are in your 30s/40s. You can travel, see new worlds, culture, study, hang out with friends, etc. My suggestion would be to try power boating for a year (much more fun for the kids), sailing for a year (Caribbean), travelling to Europe for a year, Asia for a year, even the South Pacific, etc. You can purchase a boat at each of these locations if you really want to live on a boat. The kids will learn new languages, culture and interact with the rest of the world.

Good luck,
MV Ithaka

Livaboard kids DO get to play with other kids, whether around the marina or on the streets in every port. Home education in general is better than the dysfunctional gov sector schools. But sure, some parents might find raising and educating their own kids boring. Many prefer to warehouse them in gov brainwashing centers.

[davil]

Originally Posted by Beneath

Trying to look at the pessimist side (or maybe confirmation? hah) of our plans.

I am able to work remote, and have been doing so for the last 6+ years - it is not a covid employer shifting event.

Apologies for the long wall of text, but as you can tell we have been pondering this for awhile and are extremely excited about the idea of it.

==============================
why not a power boat?
Will give you a more (home like, familiar environment) given your planned areas of near future (Bahamas, Dominican)
Sailing is more demanding and to learn the skills may interfere with your work and time for your family, while a power boat may give you the room and comfort your family has now.
After the children leave you can always change to a sail boat.
Nothing is forever
Another way to look at it.
Boating is a never ending experience