Critique My Plan

[seandepagnier]

I question if the OP is telling the truth or not. No mention of actually how the income is "earned"

Anyone with this level of "income" should be questioned. It is a choice to cause pollution, and the 1% choose to cause more pollution than the remaining 99%. It is a selfish choice to be in the group that is ultimately spoiling the world for now and forever in a vastly disproportionate way. The mention of "real estate" is an indication of low morals. Since it is as wrong to own land as it is wrong to own the sea, the air, or the sky. So, my answer is to get a boat for $10,000 or less and use that since it is more than sufficient and immediately stop "working" (ie: stealing) so that other people can also achieve their dreams. When wealth is concentrated into the hands of a few, it impoverishes everyone else.

[Pelagic]

Originally Posted by seandepagnier

..The mention of "real estate" is an indication of low morals. Since it is as wrong to own land as it is wrong to own the sea, the air, or the sky. ......

And here I thought we were only renting !

[davil]

Replies: 46
Critique My Plan
Views: 2,265
Posted By Beneath
==================
where is the OP?

[Beneath]

Originally Posted by davil

Replies: 46
Critique My Plan
Views: 2,265
Posted By Beneath
==================
where is the OP?

Was out in Annapolis sailboat show and catching up on all my overdue home projects. Catching up to the thread and responding in kind shortly.

[Beneath]

Originally Posted by seandepagnier

I question if the OP is telling the truth or not. No mention of actually how the income is "earned"

Working a W2 Income based job for an employer? I'm not sure what else you want me to say here - i am not an entrepreneur.

Regarding real estate.. This was something that my wife wanted to pursue when she gave up her career to be a stay at home mom. She wanted a purpose/part time and the thought of managing her own LLC/Properties spoke to her. I understand some see 'landlord' as some bad word - but to each their own, i wont entertain that debate here.

[Beneath]

Originally Posted by jrau18

I only skimmed this thread, so maybe it already has been said: be wary of that work from home in a foreign country situation. I have a friend who ended up in jail for that. Most countries won't allow you to work on a tourist visa, you need a work visa. They consider working remote from your boat to be working in that country. Now you need a work visa and to be paying taxes, but most won't give a work visa.
Just something to think about. Research specific countries and their laws and mitigate risk appropriate to your situation.

Very valid points and i'll definite dive into it. I'm curious how those who own their business or are general entrepreneur do while cruising?

Originally Posted by jrau18

Also, you hiring? Just kidding. Sort of...

Hah! Just filled my last team headcount, maybe next year.

[Beneath]

Originally Posted by pma_foyl

You have the $$$; the plan is (mostly) viable; your boat choices and locations seem good. The only thing I question: 40 hour work week???? When you go cruising, you have a new full time job - keeping your boat running and in shape. And make no mistake, that IS a full-time job. That, combined with home-schooling the kids, will make a full time remote gig challenging (or impossible). And keep in mind, cruising is about experiencing the world…NOT trying to move your “land life” onto a boat. Just quit your job and get on with it.

I guess maybe i am naively leaning towards a 1-4yr old model to cut down on that. But again, it all depends on an array of components. I am also hoping that by having a 6month cruising/6 month on land that it'll offer me appropriate preventive maintenance time while not cruising. But I do agree that in no way am I expecting no boat work - nor absolute freedom every weekend or evening.

[Beneath]

Originally Posted by Tom and Maje

I work remotely as well. Really look at your internet. The worst connections we had was in the Bahamas and Dominica. Even buying internet service won't give you reliable internet.

Thats concerning! Is this even with cell router gear and appropriate boosters and antennas?

Im currently considering going the dual sim route with peplink Max BR1 Pro 5G as an example with the appropriate antennas.

Originally Posted by Tom and Maje

Try to charter the boat you want to buy.

Just came back from Annapolis Sailboat show and we did exactly this and laid out the deposit already. On schedule for Q1 of next year.

[Beneath]

Originally Posted by away again

I think you have 2 options
Go now and make a mistake doing it too early
Go later and make a mistake doing it too late

Which one do you feel you can best recover from, (bearing in mind that you and your wife appear to be a capable team).

Spot on - and its a discussion the wife and myself had before i posted this on here. Wait until we are 50yrs and the kids are off to college, or do it next year with the kids. Even if we regret it and press the 'undo' button 2 years in and return to 100% land life - it was an adventure worth trying.

[Beneath]

Originally Posted by Rjstutch

I think you have thought this through well. Despite the naivety of some CF members there are many of us in similar situations but maybe a little older with children grown up. I would definitely watch Sailing Zatara on YouTube if you haven't, as they have done this as a family. My concern as is yours about being in range of high speed reliable internet may be addressed soon. I think this recent article mentions Starlink which ultimately will give you relatively cheap high speed internet anywhere in the world except in the higher latitudes in the northern and southern hemishere.
I would also make sure your real estate portfolio is managed well for rent collection, repairs and maintenance.
Good luck with your plans and I wish you and your family fair winds and safe travels.
https://au.pcmag.com/networking/8863...ats-and-planes

Our family has been binge watching a few of the earlier Zatara videos - especially those that focus on the schooling or kids point of view. Our oldest is really fond of it. I too am anxiously waiting to see what becomes of Starlink - but have set my deliverable expectations low (2025). Of course I am happy to be wrong and have it be viable sooner

[Divested]

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.

I was thinking similarly but I can't get past the idea that with all that income you are saving only 14k a month. Sounds to me like you live a lifestyle that will be fairly difficult to match as a liveaboard. I predict a huge cultural shock for you and the fam.

To the OP I'd say "good luck" but sounds like they are all stocked up.

[ol1970]

So for a point of reference I retired at 43 and it was absolutely the best decision of my life, it was only then that I got into sailing. Now I’m 50 and have chartered all around the world having a couple thousand sea miles under my belt, visited multiple factories where these boats are built and attended every major boat show around the world twice. You’ll learn way more just getting out there and doing it, and at some point you’ll have to pull the rip cord and go for it.

We currently have a nee built in the queue 2 years out but it’s perfect because it allows us to iron out a bunch of details in the meantime. With regards to your plan here is the thing, if you are able to earn and save the amounts mentioned, you’ll be smart enough to adapt your plan along the way to make things work. Trust me when I say that if you had $3 or 10M more in your investment portfolio you’d still have some tiny seed of doubt if you can pull it off. This is absolutely a decision that can be unwound, with little pain and suffering. Don’t waste time worrying about what might happen, when you bite off more than you can chew, the trick is to start chewing. It’s utterly amazing what we can accomplish when the challenges present themselves.

As for finances my only rule has been to have no more than 15% of your NW tied up in a depreciating asset. But as you age, this number can vary higher. A couple cruising. And living aboard in their 60’s I can easily see 30% or more. In your 40’s and retired, having 30% tied up in a sailboat could cause some more frugal living down the road.

Good luck and keep moving towards your dream!

[mogulskibum]

I'm not going to criticize either the OP or his/her plan. What I am going to offer them is something that I have learned in 25+ years of boat ownership.

Boats need a lot of work. Old ones, new ones, ones that were just refit, ones that you refit, all of them need work. Not just "repair" work. But maintenance, planning and logistics all require a lot of time, even in the unlikely event that nothing ever breaks in an untimely or unexpected manner.

The bottom line is that if you're cruising on boat full time just managing the boat is a full time job. Getting her from A to B, with all the supplies you need, and keeping her maintained in a seaworthy manner is, quite simply, a full time job.

If one spouse is working full time, then the other one needs to take on the full time job of running the boat - even if they never pick up a wrench or scrub brush, it's still a full time job managing the hiring of other people to do the work.

Does that other spouse actually have both the capability *and* desire to do that?

Okay - let's say, yes they do. They want to do that, and they can do that.

You're working full time. They're working full time.

Who's watching the kids?

[DeValency]

Originally Posted by mogulskibum

Boats need a lot of work. Old ones, new ones, ones that were just refit, ones that you refit, all of them need work. Not just "repair" work. But maintenance, planning and logistics all require a lot of time….

Who's watching the kids?

While generally agree with the need for a lot of maintenance work, I think it shouldn’t always be the case. Unless the boat is a total wreck with no budget to replace obsolete systems, pats etc. and is not a 70-80’ super complex beast, a reasonable owner can manage with much less than a full time maintenance commitment. Few comments/suggestions:
- a boat can never be in a perfect condition, there is always something to do, repair, improve, refit… Yet, not everything is critical for seaworthy, safety and basic operation. Being able to constantly monitor the situation and prioritise is important with everything in life - boat included.

- a couple can do a lot of projects together. This can easily reduce ~50% of the total time. And it it more fun and help bonding a couple and turn them to a highly capable sailors. Just like sharing responsibilities with child care, cooking, cleaning…. Again - like everything in life.

And when managing work, decisions, dreams, plans…. together (including the kids…) it can even be real fun. That’s from my 35 years of multiple (always not new) boats ownership, major projects, cruising, racing, building a happy family (I think… &#128578 it can all be done, including maintaining a job. This may require flexibility and re-prioritising plans and missions all the time - but this is life!

And st a certain stage, the kids can start taking care of themselves and even share some boat maintenance missions 👍🏻

We shouldn’t discourage new dreamers from fulfilling their dreams 🙂. Not even in a -13C in the Northeast this morning. - well, at least the sun is shining!

Wishing us all a fun day!

[BouyCall]

You cant buy time.....go as soon as you can. Good luck!!!! Definitely jealous, good for yall!