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| Financial advice needed, from sailors |
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Now that I have my money man "on board" my plan to cruiz, (Michigan to Keys) I need some REAL advise from you people that are out there or have been out there. I know there are a hundred possibilities, and everyone is different, but what is/was your scenerio? I know, money is kind a personal thing but, I am looking for round numbers not really personal info.
When your forced to use a dock, how much per month? Fuel for the 3cyl diesel? Break downs? Taxies? Marina fees for the cannal system etc. The farther south we go will it get alot more expensive (silly question). I am starting my thinking at !,000 to 12 hundred a month, barring any breakdowns.
I am dreaming I guess, but isn't that what it is all about? Finding a starting point.
Thanks, Dean |
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| Re: Financial advice needed, from sailors |
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Dean,
From my experience, first and foremost you decide whether your doing a open or closed ended criuse. That is to say whether you on a sabatical or your chucking everything for an extented period. Beyond that you take the money that you have and divide by the time you'll be out there. Check your route for anchorges using internet, and or cruising guides, etc. Here is a link that will get you started.... http://www.marinamap.com/en/.
In addition I'd get familar with excel and start putting pen to paper on the costs you'll know you have. Fuel (gallons per month), boat insurance, health insurance, food, repairs, communications (cell, sat phone, etc), maintenance (oil changes, anodes, belts, bottom paint,), prop tax, and travel and fun where ever you are. There could be more catagories. Some people really like underwater photography, or scuba diving trips etc. then there is a reserve because stuff happens. It's all personal choices.
I think the key is to get the basics down and see if your expectations are in the ball park of the cash available.
Like Alex is looking into if you have a skill that you can work a little along the way that help boost the cruising kitty. When I was out, a person that could do sail/bimini repair could have made a few bucks.
Hope that helps
Dave
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| Re: Financial advice needed, from sailors |
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Dean,
Like you I've been dreaming about getting out there and seeing the world. My scenario is that I'm 40, no kids, wife, etc., (I do have a couple of dogs though), have a good paying job that I don't like very well. I have about 150,000 in assets which includes my 401 k. Been thinking about cashing in my chips and buying a boat to live on and cruise for a while. I'm envious of what Alex has done with the sponsors etc., that would be nice. I do realize that I'm going to have to make money somehow when I'm out to fund the adventure. The bimini/sail repair idea sounds doable. |
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| Re: Financial advice needed, from sailors |
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| I know its none of my business but I'm 31 and we are in a similiar situation when it comes to dreams and the no wife, no kids thing. However, I owe money. You know credit cards, school loans, etc....things I could go to jail for if I don't pay back. I have friends who are out there now with no money and limited skills, but enough common sense to get by. I see your 150,000 whatever and it blows my mind. I don't think I will ever have that much saved up. What the heck are you waiting for? Your way ahead of anyone I've ever met that has these dreams. Your only getting older man. |
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| Re: Financial advice needed, from sailors |
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Hi Paul,
I owed quite a bit when I started. It wasn't credit cards and student loans though, it was court fee's, bad debts, restitution etc.. lots and lots of debt that I couldn't get out of no matter what.... Once I made the decision to buy boat and live free, I had no other choice than to eliminate expenses from my life... I got the cheapest apartment I could find. Was living off about $500 a month total expenses. I had to quit everything to achieve that... quit smoking, limited alcohol, started eating healthy (and cheaper by not eating any junk food an no restraunts at all).. No going out, etc.. sounds rough I know!, but I was able to pay off my debts in 2 years time and put over $10k in the bank in one year working mostly part time at $10/h. I just bought my $10k boat a few months ago... If I can do it anybody can! it just depends on how bad you want it, and it can only happen if you start taking action TODAY. You can either sit back and wait for you financial problems to solve themselves. Or you can actively work towards getting it all settled, one step at a time... however long it takes... And see which one leads to success.... The key to success is slow and steady progress!
I was 31 when I started. I'm 34 now and just bought my boat. I'll be in the Bahamas when I'm 35. It works, but you have to really do it. You cannot wait for it to happen. The longer you wait to start the longer it will take to get there...
Pay those debts, live like a monk for a short while, then live the rest of your life a free man! This isn't just something for other people, its what you want, it's YOUR DREAM! only you can make it happen!
If you need to know more just let me know. I can't stand to see somebody lose hope just because of money. Money is only a hurdle... it's not a wall! |
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