To Give Up or Not to Give Up?

[Blue Crab]

I ran this question around the Scandlebar over a couple of beers today and the consensus was that folks would sell and go. Captain Chaos is right on: If you were happy somewhere, you wouldn't leave. And it's no hedging, you're all in. And worse case, you start all over.

My earlier opinion was what I thought best for you.

I would sell and go. I'm a bridge-burner. It's cost me a bunch of money as I often buy high and sell low but I keep moving.

The point SaucyS made about her hard-earned wad of cash losing 50% value over 7 years is scary. I'd like to have her problem but it's still scary.

[John A]

At some point in your life you're going to leave your boat and move back ashore. Illness, demands of family life, maybe become a primary caregiver, or maybe the realization that this ain't fun no more.
During your work experience you made plans for when you would work no more. So to you must have a plan for when you sail no more. I know it's difficult for you thirty-somethings to contemplate a life after 70, but it can happen. Believe me, you're never going to recoup the investment you've put into your boat.

I'm there now, off the boat that was my life for 22 years, starting from scratch in a one bedroom apartment on Social Security and some modest investments. Trading my status as a singlehandler to that of a single person over 70 living alone.

As you romanticize about how wonderful life on a boat will be, and it was, don't burn those bridges behind you. Leave yourselve a bolt hole, something to provide a piece of security when the crap in life happens.

[Doodles]

Originally Posted by Saucy Sailoress

We rent a house, and have no intention of taking any of our belongings with us when we cast off next year. But I do sometimes (often, actually) think I should put my money in property rather than the bank... With current inflation v. interest; my money will have halved in value within 7 years, so I'm told by my financial advisor....

Me thinks you need a new advisor.

That would assume you put you money under your mattress and live somewhere were the inflation rate is over 10% ... I don't know where it's that bad ... yet.

[Doodles]

Originally Posted by ready4theworld

Thanks for the input, tgzzzz. I'm really sure that this is the direction in which I want to go. I'm a bit of a loner and single. I moved out of the city and to the country (i was actually raised in the country) about a year ago; just wanted to enjoy the peace and quiet. At my age of 41, I'm simply ready to truly enjoy what life has to offer. I have no doubt that the live aboard lifestyle would suite my needs.

You say you have no doubt about the lifestyle, but your opening post suggests you do. That's natural, nobody really knows until they start living aboard. My suggestion would be to take it slow and dispose of stuff as you realize you're no longer going to need them. We still have our car for example, even though we only use it 6 months of the year. It costs so little to maintain and the convenience is worth it. The house was too valuable to rent or sit on so that we sold along with the furniture. We do have a storage unit for winter clothes, financial files, extra boat stuff, etc. but will get rid of it once we set off for good.

[ready4theworld]

I want to thank you all for your input. I am able to see both the advantages and possible disadvantages of ridding myself of my anchored possessions. I'll be sure to keep ya posted as get closer to the salty seas! Thanks again.

[wolfenzee]

Having a house "bought and paid for" could allow you an income to cruise with. Aside from finding out if it is right for you. Figure out how to make it happen while keeping as much income generating "stuff" as possible. One rule I have kept all my life, if you keep your fantasies from becoming too fantastic they will be more likely to happen. Which is why I live on a wonderful 30' boat rather than lusting after a 60' schooner from the dock.

[ready4theworld]

Originally Posted by wolfenzee

Which is why I live on a wonderful 30' boat rather than lusting after a 60' schooner from the dock.

That makes a lot of sense to me wolfenzee. I'll most definitely keep that in mind. Thanks much.

[Blue Crab]

Originally Posted by John A

At some point in your life you're going to leave your boat and move back ashore. Illness, demands of family life, maybe become a primary caregiver, or maybe the realization that this ain't fun no more.
During your work experience you made plans for when you would work no more. So to you must have a plan for when you sail no more. I know it's difficult for you thirty-somethings to contemplate a life after 70, but it can happen. Believe me, you're never going to recoup the investment you've put into your boat.

I'm there now, off the boat that was my life for 22 years, starting from scratch in a one bedroom apartment on Social Security and some modest investments. Trading my status as a singlehandler to that of a single person over 70 living alone.

As you romanticize about how wonderful life on a boat will be, and it was, don't burn those bridges behind you. Leave yourselve a bolt hole, something to provide a piece of security when the crap in life happens.

Sitting in the Scandlebar again today, shocker, one of the really experienced "retired" guys in town started opining on this very topic. A delivery captain, gourmet cook, orchestral musician, the guy has been around. He's 62 or 3 on SS. Apparently quite a low $# at that. Doesn't feel he can hold a job.

He moved ashore off an Albin Vega about 3 years ago into nice government housing. Gave the boat away for $1500 on payments. You know how that played out. So he has nothing to do, no money to do it with, but he's in good enough health that he won't be dying soon.

So long story short, give the above some thought.

[SaucySailoress]

Whilst the OP wonders whether to give it all up or not, we have totally taken the bit in our mouths with this one - but no-one has told me how to invest my money yet. I've started a thread so that you can all give me lots of useful advice on investments, whilst avoiding the political aspects of inflation (it's there, and I don't care why!).... Follow me...

http://www.cruisersforum.com/forums/...tml#post653641

[SkiprJohn]

Aloha and welcome aboard!
Each of us has a different situation. I'm too tied to the land and am starting to get things fixed up to sell out when needed. Land based material always needs repair just as sea based material and I'm running out of time to take care of everything. I wish very much for a simpler life but have to convince the wife of that too. I think back of the days when I was a liveaboard and only had to worry about the boat and its maintenance and paying for dock fees. That was a very good life.
kind regards,

[Feral Cement]

Originally Posted by SkiprJohn

I think back of the days when I was a liveaboard and only had to worry about the boat and its maintenance and paying for dock fees. That was a very good life.

About that same time, I was living in the woods in a cabin that cost me $60 per month. Time has a way of depositing things at our doorstep that we make room for - in our lives, in our minds, and in our hearts. I carried few momentos, photographs, or heirlooms at the time. It's harder now, but doable.

John

[Olorin]

Here's my approach. I owned a big house which was too big once the kids left. It was a major financial asset where I also happened to live. I sold it, gave away everything else and bought a boat, which is another financial asset in which I now live. We're having a blast so far and shall continue in this until its not fun anymore.

I am blessed with friends and relatives who will put me up for a while during any transition phase.

My investments have done 75% in the last year, but they owed me a bit from the down turn.

"Be bold and mighty forces will come to your aid." - Basil King

[wolfenzee]

no matter what it might be....never give up on your dream, you might just have to scale back a bit on it to make it possible.
There was a beuatiful 60' schooner on the hard next to my boat all winter, when someone told me they thought that was my boat. I was happier with my 30' sloop, because I knew I could afford it and was able to make it happen on my own.

[ty.gregory]

I am not sure that my question to follow can be answered by the majority of people on this site, for the simple reason that most people here are a two-some. They are not yet alone. Regardless, the "future" seems to lead to that point where someone somewhere has to change our diapers... Literally.
I don't want to take anyone down with me, and if I were not alone this would not be a question I'd ask, but, sailors (risk takers) as a whole, know what I am asking. What really is our future? And do we want it?

[wolfenzee]

Originally Posted by ty.gregory

I am not sure that my question to follow can be answered by the majority of people on this site, for the simple reason that most people here are a two-some. They are not yet alone. Regardless, the "future" seems to lead to that point where someone somewhere has to change our diapers... Literally.
I don't want to take anyone down with me, and if I were not alone this would not be a question I'd ask, but, sailors (risk takers) as a whole, know what I am asking. What really is our future? And do we want it?

This was my father's dream and has been mine all my life. I have been working towards this point all of my adult life and some of the rest. I know and have known those that have travel and traveled the world and it is what I want. I will be finishing up the work on my boat this summer with fine tuning over winter. The avenue we are expected to take (produceing and devoating our life to offspring) is not the path I have chosen. I will not be going at this alone as I wish to share the experience with the appropriate (by my definition) person.