Failsafe Financing for Cruising Lifestyle!

[zeehag]

Originally Posted by Therapy

Ahhh, I see.
You have not been working for a long, looonngg time.

i have constantly been harrassed by the insurance folks for buying their insurance--they all offer me stuff i donot want for 50-75 dollars/mo even today---goood luck--maybe ye has the most expensive brand---goood luck....i am not a supporter of insurance lobby or retail prices--also i am a nursie---with a still active license---even if i donot use it...i will exercise my right to medi kal---and keep my 100/month for my cruising budget....have a good time and fair winds---

[Therapy]

Originally Posted by zeehag

i have constantly been harrassed by the insurance folks for buying their insurance--they all offer me stuff i donot want for 50-75 dollars/mo even today---goood luck--maybe ye has the most expensive brand---goood luck....i am not a supporter of insurance lobby or retail prices--also i am a nursie---with a still active license---even if i donot use it...i will exercise my right to medi kal---and keep my 100/month for my cruising budget....have a good time and fair winds---

Amazing.
Did not know it existed.

Nursie stuff I know all too well.

[susswein]

I've pretty much followed the same path as the original poster. I bought my pocket cruiser for $3000, and have put less than $1500 additional into it in the last 3 years. If you're still a few years away from making the transition to liveaboard I'd suggest selling your 3000 sqft Mcmansion and using the proceeds to buy a small multi-unit property. I went from living in 2400 sqft with an $1800/month mortgage to living in one unit of my 4-plex but paying $0/month (the other 3 units cover the mortgage, utilities, etc, for the entire building).

It's all about priorities. Would you rather live large and have to go to work every day, or live small and never have to work again?

[zeehag]

anyone wanting to accomplish something will find a way to do it that fits their own life.
those who dont want to go make plan b.......and effect that plan b.

[PapaBruce]

Thanks for the perspective Zee. The OP had me a little apprehensive there for a minute. We're headed out on our 1982 Morgan 416 May 1 after the Admiral finishes her work and we'll have roughly $2400 per month with no debt. We thought we'd be living pretty well on that! I'll have a few side jobs to make another $6k per year or so and the Admiral will make about $5k per year. We think we'll be fat, dumb and happy!

[Cacique]

Originally Posted by PapaBruce

Thanks for the perspective Zee. The OP had me a little apprehensive there for a minute. We're headed out on our 1982 Morgan 416 May 1 after the Admiral finishes her work and we'll have roughly $2400 per month with no debt. We thought we'd be living pretty well on that! I'll have a few side jobs to make another $6k per year or so and the Admiral will make about $5k per year. We think we'll be fat, dumb and happy!

I'm sure there are many out there managing on much less.

[zeehag]

papabruce--you a zillionaire!!!!!!

[PapaBruce]

So we WILL be fat dumb and happy! Some things never change no matter how hard you try. I love it when a plan comes together.

[captboat]

so $3200 a month while owning everything is good?...doesn't go far here on land...?

[zboss]

Originally Posted by fombyjambox

Not to mention that Robert Kiyosaki is a proven phony and his books provide virtually nothing technically useful. His continued success is an amazing look into how the masses buy into image rather than substance.

I wouldn't say he is a "proven phony". He did experience a great financial loss along with the majority of Americans during the 2007 crash but his methods and advise are generally sound. Lots of people put their entire net worth into real estate and never diversified... they still aren't.

He did sell a lot of books!

IN regards to real estate... anyone who thinks the worst is over is -in my opinion - in for a rude awakening. Prices for homes are going up but everyone in the US just got hit with a 2% pay reduction? Consumers are cashing out their 401k's to pay bills? People have stopping paying down debt and are leveraging up using credit cards again? Underemployment is rampant? Student debt at all time highs? No new post-IT industry with high paying jobs?

What happens when home interest rates go from 3-4% up to 7/8/9%?

Wages better keep place with home values!

[ElGatoGordo]

Originally Posted by captboat

so $3200 a month while owning everything is good?...doesn't go far here on land...?

You must live REALLY large! No debt means no house or car notes, just expenses. I don't make much more and I have 3 kids, I pay 1100 per for my house and 400+ for cars.

Yeah, $3200 free and clear will be really comfy...especially sailing so no stupid $3K monthly fuel bills like some have said,

[bobconnie]

Connie and I sail on less than 3000 a month! way less!! we have more but have never had to spend that much ! at least yet !! We spend as little time as we can in marinas and go out to dinner seldom but we do eat well, and the fact we drink Very little keeps our bill per mo. down !! we save plenty for repairs we did not see coming!! and can always work some to take care of extras !! just sayin if ya cut back a little somewhere ya can sail for a bunch less !!

[zeehag]

3200 usd monthly is phat, richer than gawds rich, mon..easy livin...

[PapaBruce]

Wow! Kind of interesting I generated so much comment. Our budget includes putting $250/month away for repairs over and above normal maintenance stuff. We also like a glass or two of vino :-) on a daily basis.