|Dan, Lincoln, CA asks: |
Hi guys, My wife & I dream of your lifestyle. We are
looking at retirement in a few years and wanted to know now that you
have been doing this for a while. Have you come up with an average
monthly cost to cruise like you do? Also, are most people selling
everything and paying cash for their boats or are they financing? So
many questions for such a simple life! Is it one of those things that>
is hard to accomplish, but worth the cost?
Scott Flanders from Egret responds:
Dan, If you scroll back thru previous Forum questions you'll see we addressed cruising costs in different ways but have never given a bottom line figure per month or year because there isn't one. We are all too individual with so many different variables for a specific answer. How much does it cost to own a car for a year? The question is unanswerable. The best answer we can give and the most accurate is you spend what you have. THAT is the bottom line. I will say we live comfortably on a small portion of our previous income.
Selling everything as we did is a HUGE decision. We spent a LOT of time on this decision including buying an interim trawler. We always planned to sell our 'big' house but planned to keep our weekend home in the Florida Keys and buy a modest coastal cruiser to follow the sun north and south during the seasons. In time we got the long distance bug. After 4 years of research our decision is obvious. Would we do it again? ABSOLUTELY. It works for us and we have no distractions or liabilities ashore. Also I'll mention neither of us misses our previous things whether it be houses, cars or the stuff we all accumulate. Our lives are much simpler today. It take little to make us happy and of course happiness is the bottom line of any endeavor.
We find very few FULL time cruisers whose boat isn't paid for. We know of only one, who since sold their boat, that used their cash to work the market and paid interest for a boat loan. I assume it worked for them but would be too risky for us.
Good luck to you and your wife. You are heading in the right direction.