What Can We Afford After Retirement ?

[VirtualVagabond]

Originally Posted by jamiecrab

Not a spring chicken but still, I am only 47 years old and very active and in good health. With a smoking hot wife of 39 to travel with!!

You're still a chicken though... maybe early summer chicken. Damn sight better than us late autumn chickens... and your last sentence is just plain straight cruel!
(I didn't mean that Angell....honest. You know you're the best)
Ok.. pass me the shovel...

[NotQuiteLost]

I didn't see what you intended to do with the boat? Hang out in local marinas up and down the USA coast? Cruise to the Caribbean? Cross an ocean or two?

Anyways, my family's first boat was a 1978 Morgan 41'. Tons of interior space, accessible engine room and very comfortable ride with a small draft. It's slow, and some people don't like them for open ocean cruising, but ours did us just fine in 35-45knots with 15-20' seas. Here's a 1987 version:

http://www.yachtworld.com/core/listi..._id=76945&url=

If you look on yachtworld, you can usually find quite a few of them in the $40-50k range, and they're really a bulletproof boat. Ideal crab crusher for coastal cruising, and we were always comfortable in ours out in the open. If it's safety over speed, I've always thought it's a good direction to go.

[zeehag]

i bought my formosa 41 , built in 1976, fr 10k. so far i have put into it mebbe 1000 more. before i am done i will have put ito this boat mebbe 2000-3000 plus base 10,000=mebbe 13000 for a 42000 dollar normal purchase price--PLUS mine has radar, gps, simrad auto pilot, weatherfax, and some other stuff. not a bad deal, actually. these deals are out there--look for them. there is a formosa 41 on the hard in sd county for $5400. not bad deal--- the rudder is off, but that is a good thing-- it prolly needs work. is a good deal. these, in decent shape, in a bad market still get 40k. and they look like lil pirate ships. they are magnificent to see charging thru the sea..

[NotQuiteLost]

Originally Posted by zeehag

i bought my formosa 41 , built in 1976, fr 10k. so far i have put into it mebbe 1000 more. before i am done i will have put ito this boat mebbe 2000-3000 plus base 10,000=mebbe 13000 for a 42000 dollar normal purchase price--PLUS mine has radar, gps, simrad auto pilot, weatherfax, and some other stuff. not a bad deal, actually. these deals are out there--look for them. there is a formosa 41 on the hard in sd county for $5400. not bad deal--- the rudder is off, but that is a good thing-- it prolly needs work. is a good deal. these, in decent shape, in a bad market still get 40k. and they look like lil pirate ships. they are magnificent to see charging thru the sea..

Formosas are definitely beautiful boats. And if you know your way around wood, you can recondition them with mostly just elbow grease. Like you said, put enough of that into it and a $10k purchase becomes an easy $40k boat. Those opportunities are out there, just like in real estate.

Boats like yours do look pretty awesome underway. A guy moored near me had a big, heavy FC boat whose lines were just about identical...70' with another 6' on the bowsprit. Man, that boat was sex floating.

[barnakiel]

This a serious question?

If the question is serious, then the answer is probably 'yes'.

But I think the OP is pulling our legs?

b.

[NotQuiteLost]

Originally Posted by barnakiel

This a serious question?

If the question is serious, then the answer is probably 'yes'.

But I think the OP is pulling our legs?

b.

It's possible, but isn't it kind of fun to 'plan' the whole thing, from our own perspectives, using the stated income level and boat budget?

I know exACTly what I'd do if I had it to do again. I think most of us do, also. But more interesting is "What do I wish I'd done FIRST, if I could change anything about how I started?" The obvious "Nothing! I'm where I am because of what I did!" is ok, but it's also kind of fun to think it through a few different ways.

At least, it's kind of fun for me.

[jamiecrab]

The question is COMPLETELY serious!!! I've wanted to do this since I was 14 years old and it's almost time to make it happen!! EXCITING!!

[jamiecrab]

All of you guys are filling me with info and ideas....keep them flowing.

[sailstoo]

In today's world there are many older (and not so old) boats in your price range, approximately 40,000 plus another 20 to get her in the shape you want. That'll get you something in the 34 - 36 foot range. Suggest you check "sailboats over 27'" on eBay. As for $2,000 per month if you and your spouse have medical coverage not included in the 2k, that'd be a great help. You won't be staying in Marinas or eating out much but you can be in some beautiful places. FYI. Bahamas visa is $150 for boats =<35' and they're good, I think, for a year.

[Ex-Calif]

Originally Posted by jamiecrab

Retirement is right around the corner. The desire is to sail the Keys and Bahamas. I will have around $60,000.00 to spend on a boat and then an income of $2,000.00 per month to live on.

Can we afford a nice boat and make it with this?

Originally Posted by superdave

hell yes

+1

No problemo...

[jzk]

1972 MORGAN MK II Sail Boat For Sale - www.yachtworld.com

[wingNwing]

We bought our 33 footer for $38K and put more money into it than what your $60K budget would allow, but that was because we *could* not because we *had to.* We budgeted $2K / month (not including our medical insurance) to go down US east coast to Bahamas and came in under budget every month. I don't remember the details but it was something like $500/mo for boat maintenance; $150 for boat insurance; $150 for communication; $400 for fuel on ICW; $700 for food+marinas+entertainment. So yes, your budget is realistic - enjoy your retirement!

[foggysail]

Originally Posted by wingNwing

We budgeted $2K / month (not including our medical insurance) to go down US east coast to Bahamas and came in under budget every month. I don't remember the details but it was something like $500/mo for boat maintenance; $150 for boat insurance; $150 for communication; $400 for fuel on ICW; $700 for food+marinas+entertainment. So yes, your budget is realistic - enjoy your retirement!

Ouch!!! You're the first to mention MEDICAL!!! That will continue to be a big swallow up until medicare time. The OP must consider that impact!

[Brent Swain]

My boat maintenance is under $100 a year, , Never had insurance in nearly 40 years of cruising, under $10 a month for communication, $30 a month for fuel, Under $100 a month for food , entertainment, and I don't do marinas,
No complaints.

[barnakiel]

Well then, since serious:

- retirement,
- to sail the Keys and Bahamas,
- around $60,000.00 to spend on a boat
- and then an income of $2,000.00 per month to live on.

My only advice then is : 1) stay healthy, 2) get a sound, simple boat, 3) avoid casinos ;-)

Your plan sounds easily doable.

b.