Is it possible to live aboard a boat with no money (no income)?

[FollowingCs]

Originally Posted by Cadence

Sorry, wake up. What is your education or do you have a trade, that is marketable? Working the winter months and playing all summer. What do you expect to have at 60 or 70?

A life well lived?

Some interesting facts about the next generation coming up, after going thru what they went thru economically:
1. Most overspent on a college education and now owe that back.
2. Most can't get jobs in their field, except for nurses and tech.
3. Most will be renters a MAJORITY of their lives, especially if their parents home got foreclosed on.
4. Most will be transient - moving with whatever jobs they can find.
5. Most will be light on possessions and not nearly as materialistic.
6. They aren't falling for the trap of good job, big mortgage, new car.

This upcoming generation isn't going to 'spend' their way to happiness. They are typically in it for the experiences in life.

But I know what you are saying, there has to be some balance, and I hope they find it.

~ Following Cs ~

[sailorchic34]

Originally Posted by rwidman

That may be his ambition, but the result will likely be that at age 50 or 60 he will be destitute with no insurance or pension. When he can no longer live on his 50 year old boat he will be living in a refrigerator box or sleeping on a park bench.

Dreams are great but we only get to go around once in life and we need to consider reality along with our dreams.

I should note that I did work for 30+ years and still ended up with no insurance or pension. Though I do make a small income working from my boat. For me unlike most, Social security, even at $1500 a month at 62, will be a heap O money. I've learned that living on $500-$600 a month is pretty easy. I could do it for $350 a month, but that is getting belt tightening.

There is no promises that working at a job will get you a nice pension after 30 years. Lots O folks now loosing their pensions or finding it greatly reduced.

The OP is young enough, to try the boating lifestyle. who knows where that may lead. Better then a 8 to 5 job that lays you off at 50 for being too old. Now THAT happens a lot, now a days and oddly was never mentioned back in the 70's and 80's. Heck lots of folks in their 40's get rightsized now a day. I can only imagine it being more of a dog eat dog world in 30 more years.

[FamilyVan]

Originally Posted by sailorchic34

I should note that I did work for 30+ years and still ended up with no insurance or pension. Though I do make a small income working from my boat. For me unlike most, Social security, even at $1500 a month at 62, will be a heap O money. I've learned that living on $500-$600 a month is pretty easy. I could do it for $350 a month, but that is getting belt tightening.

There is no promises that working at a job will get you a nice pension after 30 years. Lots O folks now loosing their pensions or finding it greatly reduced.

The OP is young enough, to try the boating lifestyle. who knows where that may lead. Better then a 8 to 5 job that lays you off at 50 for being too old. Now THAT happens a lot, now a days and oddly was never mentioned back in the 70's and 80's. Heck lots of folks in their 40's get rightsized now a day. I can only imagine it being more of a dog eat dog world in 30 more years.

Good post sailor chic. My dad had a stroke at 58. Had a house and pension but through various twists of fate had nothing by 61.

Working for the man for 35 years in no way ensures the man will work for you for the next 10.

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[weavis]

Im just blown away that he knows what he wants to try at 24 and has money.

Its a different world but as long as someone has tenacity, there will always be something to earn money at........

[brantleychuck]

Originally Posted by FollowingCs

A life well lived?



Some interesting facts about the next generation coming up, after going thru what they went thru economically:

1. Most overspent on a college education and now owe that back.

2. Most can't get jobs in their field, except for nurses and tech.

3. Most will be renters a MAJORITY of their lives, especially if their parents home got foreclosed on.

4. Most will be transient - moving with whatever jobs they can find.

5. Most will be light on possessions and not nearly as materialistic.

6. They aren't falling for the trap of good job, big mortgage, new car.



This upcoming generation isn't going to 'spend' their way to happiness. They are typically in it for the experiences in life.



But I know what you are saying, there has to be some balance, and I hope they find it.



~ Following Cs ~

facts!! You have drank the cool aid my friend.


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[nimblemotors]

Originally Posted by sailorchic34

There is no promises that working at a job will get you a nice pension after 30 years. Lots O folks now loosing their pensions or finding it greatly reduced.

Indeed, my sweetheart worked for an insurance company for 23 years,
started at the bottom, rose to management, then one day company replaced her with someone else at half her salary.
Now has a completely new career she enjoys.

When you do things you enjoy it isn't really working. And that is the key, is finding what you enjoy doing that you get paid to do.
If you like to travel, get a job traveling..if you like boating, become a captain, etc.

Not sure the OP has a great plan in this regard, when the question is phrased as can I live with no money and no income, regardless if you have a boat.
In the USA, you can live with no money and no income, those people that do will tell you, they don't recommend that choice.

[hellosailor]

Or, let's make that simpler:
"Is it possible to live ...with ...no income?"

Well, possible yes, easy no. Dentist, groceries, shoes...there will be expenses.

Bigger concern might be that asking the question says you're new to all this, and sailing up the east coast with no sailing experience can be outright dangerous. What weather will you expect? Are the rudder, rigging, and sails up to it? Are you? You're aware that Hatteras is the Graveyard of Ships but that the Jersey shore can be just as hostile?

Florida, problematic. If you're there in hurricane season, it may be hard to get insurance. No insurance? No marina entry. Planning to moor out or anchor out? Eh, depends on who owns the bottom, and as you get to New England, a surprising amount of it IS privately owned. $4 for a marina might be cheap. Way less in Florida, but Florida has its own definition of "liveaboard" and is having anchoring wars right now, about who can do what where. They tend to put new laws into effect in January and July, if I recall.

So, either it is one grand adventure, or one expensive mistake. The more you can read up on this (and there are PLENTY of threads and even books) and size it up before you make a decision, the more likely you'll come out ahead. And alive.

And going up the east coast? If you stay in the ICW, that can be 1200 miles of motoring and many paid moorings, the alternative being waiting for good weather and going offshore, and hitting exhaustion if you're doing that alone.

This is not to discourage you, just to say you REALLY want to know what you may be getting into, before you take the leap.

[Sam Plan B]

Boats cost money. If you have no money, soon you will have no boat. Maintenance costs about 10% of the value of the boat per year. It happens a lot that a person (usually a guy) buys a boat and soon finds he cannot maintain it. The boat goes down hill and so does its resale value. Soon the polish is off the applIe and the boat is abandoned for someone else to deal with. If you go through with this deal I would bet $1 you will find yourself in just that position.

[rwidman]

Career advice on a boating forum.

[sailorchic34]

Originally Posted by Sam Plan B

Maintenance costs about 10% of the value of the boat per year.

While maintenance costs can be 10 percent a year. But in 11 years living aboard, I've only once got to 10 percent and that was rebuilding my diesel which cost me $1000. A handy person with the right boat (smaller, simple systems) who does all their own work can do it for less then $500 per year, most but not all years. Many years I've been at two or three percent. and my boat cost all of $11,500.

Ok this year I'll be at 10% also, but mainly as my working from das boot, requires more energy to power the fancy smancy laptop. But some of that is deductible too.

Alas a newer boat or larger boat will cost more to maintain. But to live aboard inexpensively, requires that one get a older boat without teak decks, roller main, Air conditioning, water makers and all the other things that cost to maintain or fix.

To live cheaply, requires careful picking of the boat. Pick the wrong boat and it will eat you alive. Not a power boat as the fuel costs, even for a trawler will use too much money.

[Woodsy]

Originally Posted by xJeepx

Well, let me reword. I'm a 24 year old male.

I was a couple of years older.

Sleeping under bridges has its advantages, given no "time" constraints.
Same as sailing to a schedule.

You cannot live without money.
Income, YES. money ummmm no.

I am now between the posted 50-60 years old.
I have found that homo-sapiens tend to be adaptable!

20 + years later.
I am property rich, monetarily poor.

and to to to go on...

[Sea7King]

Can you sail the coast in a < $10,000 boat?
What is your sailing experience?
What are your navigation skills and equipment?
Can you fix sails, an engine or rigging when it's blowing thirty with 6 foot seas?
Singlehanded?


You decide.

[FamilyVan]

Originally Posted by Sea7King

Can you sail the coast in a < $10,000 boat?
What is your sailing experience?
What are your navigation skills and equipment?
Can you fix sails, an engine or rigging when it's blowing thirty with 6 foot seas?
Singlehanded?


You decide.

Oh come on. Coastal sailing in a $5000-10000 boat does not require a wizards hat or rod. Fix sails? 10 miles off the coast of Florida? Use your engine. Navigation? Red and Green in between. Engines busted- use the sails. 6 foot seas? This kid isn't going out in a canoe, any boat he listed could sit beam too 6' seas for a week and be no worse for wear. 30 knot winds? It's going to be clear he needs to take a sail down, because there will be water in his cockpit.

You guys are so dramatic.

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[weavis]

Originally Posted by FamilyVan

Oh come on. Coastal sailing in a $5000-10000 boat does not require a wizards hat or rod. Fix sails? 10 miles off the coast of Florida? Use your engine. Navigation? Red and Green in between. Engines busted- use the sails. 6 foot seas? This kid isn't going out in a canoe, any boat he listed could sit beam too 6' seas for a week and be no worse for wear. 30 knot winds? It's going to be clear he needs to take a sail down, because there will be water in his cockpit.

You guys are so dramatic.

Coffee splash on the screen.

You are so right. As a teen, we used to go fishing at night in 17 foot cuddy dorys with a 40hp outboard in the Morcambe bay area of England about 7 miles out. For those that know the area, it can blow up so fast and hard it makes your eyes water. 10 foot waves some nights...... if one of us broke down, another would tow us in.

being in a sailing boat would have been a luxury instead of a bobbing cork.

you are so right.

[FollowingCs]

Originally Posted by brantleychuck

facts!! You have drank the cool aid my friend.

Sent from my iPad using Cruisers Sailing Forum

Not sure what you are saying, but I can dig up numerous housing market reports and surveys that show these stats in a big way. I didn't even go in to married later in life, less likely to have children, etc. etc. I'm in the real estate business and I need to track this stuff. Of course the next generation can change, but this is the attitude of the current 20 to 30 year olds.

~ Following Cs ~