Do It NOW, Don't Wait!!

[Codger2]

As the poet John Greenleaf Whittier wrote, "For of all sad words of tongue and pen, the saddest are these: what might have been." Don't let boating dreams become another 'what might have been'. I did, and I regret it.

Excellent post! I retired at age 51. Had I stayed 5-10 years longer I would have retired with considerably more money but I concluded that it just wasn't worth it. My wife had passed away from cancer about a year earlier and I decided to take my best friend Bernie (my dog) and move to San Diego & buy a home with an ocean view. I altered the plan just a little (bought a boat, too!) & did exactly that! That was in 1993. No regrets!

 

[ancora]

I retired at 55 and am now 84...do the math. My only regret is that I could not afford to retire even earlier.

 

[murofrelwart]

I have a question, my wife and I both agree that we would love to retire early but what does everyone do about Medical insurance once you leave the 9 to 5 life? Paying two medical Insurance premiums seems like it's going to take a large chunk of our cruising budget.

The advice by boathealer below is very valuable:

1. Understand the nuances of managing adjusted gross income to qualify for Affordable Care Act subsidies
2. www.early-retirement.org is an excellent site to begin your research.

Yes. Our first year we paid through the nose for medical - yes, two premiums - a significant amount. The second (and hopefully subsequent) year, our declared income was low enough to get some Obamacare subsidies that helped A LOT.

We planned for both of these in our "budget" forecasts when deciding when/if we could retire. Some of it involved lowering our planned lifestyle still further until medicare age. It hurts, but it is a fact of life and we just had to suck it up and pay.

Would do it again in a heartbeat, BTW......

EDIT: BTW, go to http://www.early-retirement.org and spend as many hours as you can stand READING. Then start again, and read some more. When you think you have had enough - read some more. There are some REALLY smart people on those forums......

 

[Group9]

When we retired and went on our cruise in 2010, our second night out, we stopped and stayed at a marina. The next morning, as we were checking out the lady, working the counter, who was about our age (50 at the time) asked us what our plans were.

We told her, and she said she liked seeing people going ahead and doing that, because last year, her husband and her, after many years of planning, finally decided to go ahead and take a cruise o their boat.

As they were preparing their boat for the cruise, they got full health checkups and learned her husband had cancer. Six months later, he had died and she went and got a job at the marina as a way of compensating for not getting to go.

During the trip, we heard this same story a couple more times.

 

[Ken E.]

"For of all sad words of tongue and pen, the saddest are these: what might have been." Don't let boating dreams become another 'what might have been'".

+1 Truer words were never spoken.

 

[psneeld]

Even though "go early" worked for many of us....my bet is there are more of these sitting around than active cruisers.

Buying before you are committed to the idea is a huge waste of money.

 

[Airstream345]

Great post and one that hits home for us. After decades of career building a few life events conspired right around the time we both turned 50 that made us re-evaluate what's actually important. Yes, making and saving money is important, but so is actually living and enjoying your life before you simply can't anymore. Otherwise, what's the point of making and saving in the first place?

Right around this time of self reflection a good friend (also a member on TF) said to me "We're all gonna die! Do it now!" which knocked over the first domino in a row of life changes over the last year which resulted in us selling our "smaller" trawler, selling our house and buying THE BOAT that only seemed possible in our dreams.

I'm still working, but I feel no pressure to climb the ladder. Our expenses haven't been this low in a decade - even with all the refitting. I have no plans to retire tomorrow, but perhaps in a few years might make a move into consulting or advising from the boat or maybe a career change into something new and interesting. So far I've been a bush pilot, a warehouse manager, an IT director, a software developer, a tech entrepreneur and a marketing exec. Maybe there's still time to be a ferry captain?!

With COVID-19 this has only been re-enforced in terms of the fragility of life and the time we each have left but also the realization that you don't need to work in an office from 8:00 - 5:00 with an hour commute on each end. Many of my co-workers and peers are figuring this out and making their own changes. Some are choosing to move from the Bay Area to places like Idaho and Colorado. Others are taking leave and re-evaluating what they want to be. One is going back to school mid-career for a new career.

For us, the goal is to live/work from the boat (wherever the boat may be) for as long as we can to extend our financial ability to cruise until we physically or mentally need to stop. That work might be what I've done for the last 20 years, or maybe it's something new and portable and centered on boating itself. Hell, we already have dock neighbors knocking on our boat and asking if Suz can sew up upholstery for them on her Sailrite or if I can install cellular internet or a PC based navigation system or help setup new battery banks.

I guess my point is this does't need to be an either/or decision. You can do both: "do it now" and retire whenever you're ready.

 

[MurrayM]

Factoring Covid-19 into things is a good point. There's been no pandemic in recorded history that had only one wave, and the second waves are much bigger...about 6 times bigger with the Spanish Flu.

My staying another year at work will result in $90.00 more on my monthly pension cheque. Hardly worth risking my life for.

A couple years ago my wife and I sold our photographs at a local arts and crafts fair and sold about $900.00 worth in two days. More time on the boat equals more opportunities to get more photographs. There may not be arts and craft fairs for a while, but we can still find ways to sell our stuff, especially if the work-a-day life isn't sucking up all that time & energy!

Makes a guy go; Hmmmmmmm...

 

[AlaskaProf]

I'm with you, Pete. The clock is ticking, boating time is finite. Go for the gusto!

Eat dessert first! Life is uncertain.

 

[BandB]

I wince every time I read a post starting with.."We will be buying a boat and retiring on it in Five, or Ten Years..." Or "We will be doing the Loop in Five years, when we buy a boat".

Don't Wait..Do it Now!!

Retirement is great but there are several drawbacks to waiting until then to buy your boat. Some are really BIG..

You will be really, really busy once you retire. There may not be time to enjoy your boat. Your parents will be quite old, maybe in the final stages of their life. You will want to be near them.

Your kids will probably be beginning to provide you with grandkids, you will want to be able to spend time with them. Often they are some distance away.

You will be beginning to experience some health issues. Both you and your spouse will probably require at least one new knee, hip or shoulder. Each of these joint replacements will kill a season of boating. (That is as many as 12 joints and 12 seasons partially ruined)

Your own siblings will be older also. Some as many as ten years older than you and beginning to make their own final journey. Some of you may find yourselves as executer of wills or estates, a very timley undertaking.

Certain things about boating require a bit of a learning curve. Better to do this learning in your 50's than late 60's.

IMHO, the true "Golden Years" of your life fall somewhere between ages of 50 and 70. You generally have more time than later into retirement, money is generally pretty plentiful, your mind is sharp and your body still does what you want it to do.

DO IT NOW! BUY IT NOW! If you are fortunate enough that none of the above limitations effect you you will have gained about ten years of boating memories over those who wait.

pete

Wifey B: I partially agree. I think throughout your life you must assess what will make you happiest at that stage. Many people don't have the free time to enjoy a boat. That's the first issue they need to address.

Also, your retirement boat may not be the right boat now. If you're just making weekend cruises then speed may be more important and sleeping space less so.

Just think what you need to do to enjoy life today more. I think a couple should always be having conversations about what they might enjoy, brainstorming. We sure did. We dreamed of retirement on perhaps the TN river and here we are in Fort Lauderdale. However, we always had dreams in mind but never sacrificed the present. We lived on the lake and boated on it. Pretty idyllic life. Hubby surprised one year when his boss flew in to discuss his bonus and his pay for the next year. He'd never asked for anything. He said he wanted more vacation. His boss laughed and said, "I know this comes from your wife and I don't blame you. You've got it."

Then when we retired. We weren't planning on doing so yet. In fact we were taking our first non-lake extended vacation, a trip to FL. We loved Fort Lauderdale and talked about maybe nice place to retire. We had fun as kids in Disneyworld. Then to Tampa and that night we received some amazingly good financial news. We knew our situation and that made retirement very feasible. We knew instantly and called a realtor we'd met in Fort Lauderdale, then called our bosses on Monday.

Now, his boss again blamed it jokingly on me and said he wanted to speak to me and he did. We laughed and teased and he said he really wasn't surprised. However, everyone in hubby's office acted shocked. They all thought of the income he was leaving. They didn't think of the pleasure. He talked to a couple of them and asked them why they worked. They mentioned retirement goals and he asked when they intended to retire. They automatically said 66. He asked why then? Then he discussed what they needed to retire. Could they not live a couple of years without social security?

Hubby was 42 and I was 33. Young, but why not. Now we didn't go to doing nothing. I'd consult with school systems and others, for free. He decided to buy a couple of stores or something. I knew he couldn't leave business entirely. What I didn't know what that he and our executives would become collectors. Yet, we work only when we want and after hurricanes and during pandemics.

Make your own kind of music. I know a couple that when he turned 50 and she was 48, the company he was an executive in had become a very toxic place to work. She taught. He quit with no other job but a plan he'd just get a low paying job. They agreed this would delay retirement. He bought a mail box store, worked there full time. He loved it. He lost weight. His medical labs all improved. He ate healthy lunches even. She said she'd never known him so happy. He loved seeing all the customers each day. They both worked longer than planned before but never regretted it at all.

 

[Pete Meisinger]

I got off to a late boating start this year. Covid, my wife got a new knee, weather, etc. I spent almost three weeks on the hard painting teak. (Looks great, not quite done, pictures soon)

Anyway, to work out sore muscles I would walk a couple laps around the marina each evening. Just chatting, walking, observing. I am in a small marine, probably about 60 slips, mostly full.

For every boat in a slip in fairly decent shape I see about the same number of "Back Row Beauties" at the marina which will probably never go into the water again. They mostly look like the boat in post 36.

I can't help but wonder what their history might be. Health issues, money problems, lost interest, major mechanical or structural problems? The marina owner tells me that most of them are more or less current on their rent. He cuts them a deal because they don't use any services, they just sit and rot.

Did they buy too early and hope to reclaim the boats when they retire? I guess I'll never know. I just hope my boat never ends up in the back row, abused, forlorn and forgotten.

So in conjunction with me saying "Don't wait, buy it Now!" I guess I should add..

"USE YOUR BOAT"

pete

 

[psneeld]

As I have posted...first you accept a life change ( which doesnt happen often)....then the boat or series of boats follow.

Without the first, the rest is a dirty piece of fiberglass with a limited future. Or just as bad, a bottomless hole, sucking money so fast you have to keep working harder and harder to keep up with no time to enjoy it.

With the first, then the horizon is there for the taking.....if financials can accommodate at least for awhile.

 

[Codger2]

Wifey B: Also, your retirement boat may not be the right boat now. and sleeping space less so.

That nailed it for me! I had a beautiful 32' Gourmet cruiser that I thought I'd keep for a very long time but at 8.4 knots, it just didn't do it for me. My present boat fits my retirement goals to a "T."

 

[Shrew]

Buying before you are committed to the idea is a huge waste of money.

This is SO true. I honestly think that there are many more in love with the idea of the lifestyle than the actual lifestyle. This is so much more the case over on our sister site "CruisersForum.com" which is primarily focused on sailing. Over there, there is a parade of people from millenials to middle-age who are simply burnt out and have discovered what looks like the 'good life' portrayed by "Sailing La Vagabond" and "Sailing SV Delos" over on You Tube.

The reality is.....

• It's expensive.
• Space is cramped.
• You have to get used to doing more with much less.
• You have to get used to having to always moving things to find other things.
• It is often an exercise in perpetually wet feet.
• You spending an inordinate amount of time cleaning things
• You are spending an inordinate amount of time FIXING things
• Every mundane task (laundry, groceries, parts) is now a chore that involves a planes, trains and automobiles (dinghy, walk, cab, etc) experience.
• In land life, your house does't crash into other houses. Other houses don't crash into your's. When you wake up in the morning, there isn't a chance your house is now 2 streets over on someone else's lawn
• Everything is almost always just a little bit damp ALL THE TIME
• finding, chasing and fixing water intrusion from above, below, and from within (ARG!! I HOPE that's just water) is a reality.
• Tank capacity becomes a part time job. (Do we have enough in the water tank? Do we have too much in the holding tank) Managing it's usage is a daily chore and many actions require being cognizant of them.
• Resource conservation (Food, Ice, water, battery)
• Power consumption and replenishment become all consuming concepts of daily life.

Did I mention fixing things????

 

[Capitaine R]

We stopped in at a local storage yard to inquire about a 30/32 trawler style boat (can't remember the make) that was on a trailer but looked like it had been sitting for a few years and need lots of TLC. The yard manager said the boat had been there for 5/6 years and was owned by a gentleman that was in his 80s. I was told I was not the first person to inquire about the boat but the owner was not willing to sell. That took place over 18 months ago and the boat is still there rotting and baking in the Florida sun. What a shame.

 

[BandB]

We stopped in at a local storage yard to inquire about a 30/32 trawler style boat (can't remember the make) that was on a trailer but looked like it had been sitting for a few years and need lots of TLC. The yard manager said the boat had been there for 5/6 years and was owned by a gentleman that was in his 80s. I was told I was not the first person to inquire about the boat but the owner was not willing to sell. That took place over 18 months ago and the boat is still there rotting and baking in the Florida sun. What a shame.

Personal attachments to material things happen for so many reasons. Many elderly can't sell items like that because it's a painful admission.

We don't feel those type attachments but have one in our family. There was a girl who came into our life around the time of her high school graduation and 18th birthday in 2013 and for all purposes became our adopted daughter. We still owned my old car from NC, a 2010 Infiniti G37. We let her drive that and eventually made it officially her car. A couple of years ago we bought her a new car as a grad school graduation present. It's a sports car. In addition she has a Honda Accord as her business car. Still she isn't parting with the Infiniti. At this point it's definitely not a classic or special car yet, but I can easily picture her many years from now still holding on to it, probably still in our garage. I understand as she'd been through some tough times and it was part of a new life and our welcoming and loving her. It was her first car and it was from us. I think her current sports car will be long gone and she'll still hold on to this car.

 

[ScottC]

Our plan was to buy a boat when we were both fully retired.

About 12 years before retirement, we joined a boat club that enabled use of 19'-32' boat for up to 6 days at a time. We found we enjoyed cruising and were frustrated not to be able to take longer trips. We also found schlepping all the usual stuff back and forth for each rental to be a pain. To make a long story short, we ended up buying our current boat about 8 years before retirement. This was 8 years ahead of plan...but in hindsight, I'm glad it worked out this way.



The reasons:
- It takes a few years to get familiar with a boat and confirm that it was the right choice.
- It also can take a few years to become an expert at handling one's new boat
- It can take many years to get the boat fitted-out just the way you want it for your ultimate retirement dream-cruising plans.
- It takes time to learn about a boat's idiosyncrasies and understand which emergency repair parts you should acquire and always carry with you.
- It takes some years to take courses and learn all the things you should know for safe boating and navigation.
- It's nice to still have a steady work income when the inevitable $$$$ surprises come up while fitting out the boat.

- I will probably think of some more things later and edit this list...



So, I fully agree. Do it now. Don't wait!!!

 

[Traxless]

We had sailed for about 25 years. Among our fondest memories were sailing on Lake Superior with my family. We left Duluth, Mn. and moved to Texas. We didn't boat. We put three (3) children through college and started a business. Then one (1) of our adult children needed our help after she became a single Mom. (The life a working single Mom is a tough road without help.) Then my wife accepted responsibility for her younger sister who became seriously ill and passed away after four (4) long and difficult years.

I'm 74 years old ... I waited too long. So now I read this Forum and think about "what if."

 

[Peter B]

That's very sad. All credit to you and your wife though for stepping up when and where it mattered. For some, stuff happens that narrows life's choices considerably. My career as a family Dr made me well aware of that, and I'm glad it did.

As a 'carer' now myself, I know where you are coming from, and am ever so glad we bought our first boat, a 20' trailer yacht, when our kids were little, and moved up through three others over time. If we had waited for retirement to do it, it wouldn't have happened. See post #24

 

[ksanders]

This is SO true. I honestly think that there are many more in love with the idea of the lifestyle than the actual lifestyle. This is so much more the case over on our sister site "CruisersForum.com" which is primarily focused on sailing. Over there, there is a parade of people from millenials to middle-age who are simply burnt out and have discovered what looks like the 'good life' portrayed by "Sailing La Vagabond" and "Sailing SV Delos" over on You Tube.

You have touched on a very important subject.

What people seem to be looking for is an escape from the dissatisfaction with “normal” life.

I can understand that, and I think many have the same feelings.

Middle class life, how BORING.

Yep, I can see why people want to sell it all, move onto a boat, and cruise the world.

You know what... you get one shot in life, nothing wrong with living it the way you want to live it.

 

[Pete Meisinger]

BandB brings up an interesting point. Holding onto things for strictly sentimental reasons is probably the reason half of the "back row beauties" are sitting at any marina.

I have an adult son who is just the opposite. It really frustrates me! He has NO sentimental attachment to ANYTHING. He does not have a drug or gambling or drinking problem, he just sells things and doesn't give it a second thought. I have a gold pocket watch from my grandfather, a hunting rifle from my dad, an old Corvette which sits in my garage. Also about a ton of other sentimental attachment objects. If any of these items end up with my son they will be gone in a month. I don't want to insult him by giving my prized possessions to my grandson (he is only 5 right now) or to my Son in law, and the girls don't want my firearms. I don't know what I wild with these things but I certainly hope they don't end up as "Back row beauties".

It is sad though, seeing these once fine boats sinking into the ground and rotting away.

pete

 

[Group9]

You know what... you get one shot in life, nothing wrong with living it the way you want to live it.

The God's own truth there!

 

[psneeld]

Unfortunately some of those who live life with wild abandon wind up being a thorn in others sides for all sorts of reasons. Though I am envious of those that do it and are just as wildly successful and wildly happy....but that's rare in my experience.

After a lifetime of moving around..... including on and off boats now 3 times...everything I own of sentimental value can pretty much be carried in my pockets, one small frame and a retirement flag flown over the USS Arizona.

The things I have learned to cherish are 2 sons and a couple friends......all else is dust in the wind.

Hanging on to a boat and not using it in my opinion is in all matters disrespectful to the vessel and boating in general.

 

[Group9]

The hardest question to answer is, "How would you have lived your life without outside influences and left purely to your own devices?"

The job of marketing, is essentially to convince you that you need to live a certain lifestyle, in order to sell you the accoutrements that accompany that lifestyle.

And, it is effective, and it is relentless, and we all fall for it, to some degree or another.

 

[slowgoesit]

BandB brings up an interesting point. Holding onto things for strictly sentimental reasons is probably the reason half of the "back row beauties" are sitting at any marina.

I have an adult son who is just the opposite. It really frustrates me! He has NO sentimental attachment to ANYTHING. He does not have a drug or gambling or drinking problem, he just sells things and doesn't give it a second thought. I have a gold pocket watch from my grandfather, a hunting rifle from my dad, an old Corvette which sits in my garage. Also about a ton of other sentimental attachment objects. If any of these items end up with my son they will be gone in a month. I don't want to insult him by giving my prized possessions to my grandson (he is only 5 right now) or to my Son in law, and the girls don't want my firearms. I don't know what I wild with these things but I certainly hope they don't end up as "Back row beauties".

It is sad though, seeing these once fine boats sinking into the ground and rotting away.

pete

Pete, I don't want the pocket watch (no sentimental attachment), nor the guns (I have too many as it is!), but I will be glad to take the old Corvette off your hands and I promise never to sell it as long as I'm alive, and then my youngest daughter would love to have it!

No need to thank me, happy to help, it's just what I do! Would you be delivering that Corvette, or will I be coming to get it?!?

 

[jleonard]

As we were sitting on the dock having cocktails the other night we started to "guestimate" how much we have spent on slip rental and winter storage.
In 30 plus years one could only imagine.
But we enjoyed every minute, had lots of experiences, and made tons of friends.
Not looking back. Only ahead.

 

[MurrayM]

As we were sitting on the dock having cocktails the other night we started to "guestimate" how much we have spent on slip rental and winter storage.
In 30 plus years one could only imagine.
But we enjoyed every minute, had lots of experiences, and made tons of friends.
Not looking back. Only ahead.

I quit smoking about 15 years ago and drinking 10 years ago. I'm probably spending less on moorage and insurance, so totally agree with your sentiment!

 

[Enyar]

Inspiring thread! We are aiming for 40 to get be financially independent but unsure when we will actually cut the cord. It will be difficult if we decide to start a family.

One thing that's repeated in this thread that is frustrating/borderline infuriating is the fact that so many are being held back because of health INSURANCE. Not a crippling disease or a sick family member.....but the PREMIUMS in case that were to happen. What a messed up system, there has to be a better way.

 

[hollywood8118]

Inspiring thread! We are aiming for 40 to get be financially independent but unsure when we will actually cut the cord. It will be difficult if we decide to start a family.

One thing that's repeated in this thread that is frustrating/borderline infuriating is the fact that so many are being held back because of health INSURANCE. Not a crippling disease or a sick family member.....but the PREMIUMS in case that were to happen. What a messed up system, there has to be a better way.

There is,
Go back to the way it was before the " Affordable health care act" when many of us had better coverage at 1/4 the cost.. and we paid for it ourselves. Insurance is just a piece of why life is so expensive, connected devices with data, sophisticated cars, housing, and all the stuff we "need" costs much more than 10 years ago.


HOLLYWOOD

 

[Pau Hana]

Unfortunately some of those who live life with wild abandon wind up being a thorn in others sides for all sorts of reasons. Though I am envious of those that do it and are just as wildly successful and wildly happy....but that's rare in my experience.

After a lifetime of moving around..... including on and off boats now 3 times...everything I own of sentimental value can pretty much be carried in my pockets, one small frame and a retirement flag flown over the USS Arizona.

The things I have learned to cherish are 2 sons and a couple friends......all else is dust in the wind.

Hanging on to a boat and not using it in my opinion is in all matters disrespectful to the vessel and boating in general.

You, sir, have hit the nail squarely on the head with perfect accuracy.