Retirement planning - how much does it cost!

Huggy Bear Brown

Anarchist
691
103
That is very steep. Might want to shop around.
Actually, we did shop around.  Our past insurance was through the Gowrie Group and their Jackline Policy with Markel as the insurer.  Good insurance with a AM Best rating of "A".  We had to purchase a rider to stay in Grenada and the deductible, in the case of named storm damage was $18,000.  The premium for the boat in 2020 was US$3900.  Another US$1000 was added for boat liability and off boat liability with US$1 million/$500k limits.

Given the current Covid situation in the Caribbean, we felt we were at risk should the islands start shutting down again as they did last year.  We wanted more flexibility and found that with Massy United out of Barbados.  We are covered anywhere in the Caribbean for named storms with a $5500 deductible / $3700 for other losses.  They are AM Best rated at "A-".  They maintained that rating even after Irma and Maria.

 

Huggy Bear Brown

Anarchist
691
103
That's quite high to me. What are you doing for that sort of thing over 3 years.
The boat is now 13 years old, but in great shape.  This year we're budgeting:

  1. Replacing our anchor chain - $2000
  2. Partial shroud replacement - $3000
  3. Remove and rebed cabin house windows - $3000
  4. Replace Yanmar hoses, new water muffler, PYI dripless shaft service, misc engine work - $2500
  5. 3 to 4 gallons Micron 66 bottom paint - $1400
  6. Get bow thruster fixed - $??
  7. Other misc supplies - lubes, filters, etc - $1500

Last year was:

  1. Lithium ion battery upgrade - $8000
  2. High output alternator - $1000
  3. Replace head on genset - $2500
  4. Spare genset voltage regulator - $800
  5. Genset exhaust elbow replace - $700
  6. Other misc upgrades/maint - $2000

Next year:

  1. Complete shroud replacement
  2. Remove bottom paint, raise waterline, barrier coat, bottom paint
  3. Replace two A/C units
  4. Thru-hull/seacock replacement
 

slug zitski

Super Anarchist
6,164
1,200
worldwide
The boat is now 13 years old, but in great shape.  This year we're budgeting:

  1. Replacing our anchor chain - $2000
  2. Partial shroud replacement - $3000
  3. Remove and rebed cabin house windows - $3000
  4. Replace Yanmar hoses, new water muffler, PYI dripless shaft service, misc engine work - $2500
  5. 3 to 4 gallons Micron 66 bottom paint - $1400
  6. Get bow thruster fixed - $??
  7. Other misc supplies - lubes, filters, etc - $1500

Last year was:

  1. Lithium ion battery upgrade - $8000
  2. High output alternator - $1000
  3. Replace head on genset - $2500
  4. Spare genset voltage regulator - $800
  5. Genset exhaust elbow replace - $700
  6. Other misc upgrades/maint - $2000

Next year:

  1. Complete shroud replacement
  2. Remove bottom paint, raise waterline, barrier coat, bottom paint
  3. Replace two A/C units
  4. Thru-hull/seacock replacement
And you forgot …

drop the rudder , inspect bearing, seals and rudder stock 

inspect, lubricate  all steering gear 

resealing the rudder stock to rudder blade interface is also recommended 

I usually burn about 1000 doing this routine 

 

Huggy Bear Brown

Anarchist
691
103
And you forgot …

drop the rudder , inspect bearing, seals and rudder stock 

inspect, lubricate  all steering gear 

resealing the rudder stock to rudder blade interface is also recommended 

I usually burn about 1000 doing this routine 
Yup, the work never ends......  Here's todays project

Engine Work 09-02.jpg

 

slug zitski

Super Anarchist
6,164
1,200
worldwide
Yah, boat works is relentless 

I estimate one day of work for every day at sea 

if you keep up with the  maintenance schedule your boat may never need a “ refit “ 

When you keep up with the maintenance  you can push the boat hard at sea and suffer no equipment failures 

Also  I find that maintenance is best performed in a quality shipyard 

I typically book 3 months at the shipyard… some years in the water , some years out of the water 

 
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PHM

Super Anarchist
1,053
54
See, doing nothing takes organization and discipline. Otherwise you end up doing a lot of something. 
I was looking forward to retirement in a couple of years, but it's sounding like way too much trouble. Maybe I'll just keep working...

 

TwoLegged

Super Anarchist
5,666
2,094
See, doing nothing takes organization and discipline. Otherwise you end up doing a lot of something. 
I was looking forward to retirement in a couple of years, but it's sounding like way too much trouble. Maybe I'll just keep working...
Doing nothing rots the soul very quickly.  Don't go there.

AFAICS, the people who have a long and happy retirement are the ones who keep busy and still have a purpose in life.

One of my favourite retired people was a man who had been a high-level political party operator, but who had always wanted to spend more time working with his hands.  So when he retired, he built a big new toolshed and set himself up as the local DIY man, fixing stuff in other people's houses for free.  He worked long days, but was infectiously happy, and youngsters used to come work with him to learn and enjoy his company.

 

Elegua

Generalissimo
I was looking forward to retirement in a couple of years, but it's sounding like way too much trouble. Maybe I'll just keep working...
Yeah, I think a good retirement is hard to pull off because you finally get to “live the dream.” Did you dream correctly? We’re going to do a test run with an early sabbatical, though I think that will be enough to throw us off the corporate train for good...oh, the horror…

Huggy Bear shows us correctly that the choice of cruising means no idle hands…

 

Max Rockatansky

holy fuckfarts!
3,814
973
We live aboard and cruise full time, northern Gulf of Mexico to Keys and 17-18-19 spent in the Bahamas. Own car in the States, otherwise bike. Mostly anchor or in FL here lately in mooring ball field. Occasional dinners out, less than 1x/wk.

Coming in around $2K/mo, including maintenance, mostly DIY.

Things not often considered: If you have stuff you insist on hanging onto, factor in storage; if you keep a house, there are those costs (a lot, we sold to avoid that); keep a car, insurance for it. If you really leave, best to cut all ties

 
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gkny

Member
356
33
Twenty five years ago, my folks spent about 7 years on and off cruising from CA to Florida.  The did it in a 39 foot boat with no genset, no refrigeration, no cell (just ham radio), no AC, and much less electronics than folks carry now.  They had many great times with kids, friends, etc.  I am not saying that this is how it should be done but it is interesting what we consider essential now.

p.s. a cold beer was a dinghy ride but cool-aid and vodka frequently did the trick

 

Max Rockatansky

holy fuckfarts!
3,814
973
Twenty five years ago, my folks spent about 7 years on and off cruising from CA to Florida.  The did it in a 39 foot boat with no genset, no refrigeration, no cell (just ham radio), no AC, and much less electronics than folks carry now.  They had many great times with kids, friends, etc.  I am not saying that this is how it should be done but it is interesting what we consider essential now.

p.s. a cold beer was a dinghy ride but cool-aid and vodka frequently did the trick
For me, I’m trying to find a medium.

Modern refrigeration is more efficient. Blessed is the Sawafuji swing compressor. In fact it’s expensive and difficult to get ice (and you can forget block ice) these days, we watch the poor sods who deal with it all the time.

Solar and LFP to power it. I don’t have AC nor a genset. A chartplotter but no radar. Phones have books, backup nav, wx, and movies.

We mostly cook aboard, so we don’t have to worry about provisions that are particular to home; everyone eats onions, flour, cornmeal, ground provision, staples are similar everywhere.

I want to simplify but not to go primitive.

 
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toddster

Super Anarchist
4,262
998
The Gorge
I've got the solar arch leaning up against the woodshed.  I figure mounting it on the boat is the irrevocable step forward.  (Although it could "simply" be un-mounted.). I guess it represents a Statement Of Intent.

 

Santanasailor

Charter Member. Scow Mafia
1,357
706
North Louisiana
Edible ice is the mark of civilization.  That's my one requirement. 
A five minute job outside the wire of a semi abandoned LZ took most of the day.  No water, nothing.  Five minutes right, get back on the bird and get back to our LZ.  Hours in the tropical sun.  Finally, a bird dropped off a cooler full of ice.  No room to take us back but at least we had ice to suck on.  

Non pottable water makes great ice.  As well as a life long stomach illness.  Never, ever forget that day.  (I was the one who finally found the equipment we were sent to retrieve or who knows, we might still be there.)  

The ride back inside a Chinook (perhaps the loudest bird in the entire US inventory of aircraft) was interminable.  

 

Zonker

Super Anarchist
9,664
5,621
Canada
Edible ice is the mark of civilization.  That's my one requirement.
Hot showers are what separate us from savages. Nothing better than after a long shitty day dealing with boat maintenance.

I can live with cold drinks without ice.

There are some very small, like countertop sized, ice makers, from what I hear
We knew a boat who was owned by folks in the restaurant supply industry. They did not have a fridge. They had a commercial icemaker that would make 20 lbs ice/hour. So they would fire up the generator for an hour, charge batteries, heat hot water, make 20 lbs of ice, and throw it in the icebox for a few days. They were also very popular at cocktail hours...

 

Elegua

Generalissimo
Hot showers are what separate us from savages. Nothing better than after a long shitty day dealing with boat maintenance.

I can live with cold drinks without ice.
I agree. But I don't need a shower - my best bathing is with a big pot of water, a small wooden stool, a dipper, a big bar of soap and a rough face cloth.  The water can be cold or hot depending upon the climate/ time of year. I picked up the habit living in the countryside / windsurfing in Taiwan.  

 

Kris Cringle

Super Anarchist
3,071
2,619
I just got my current block ice bill. But we were out sailing for most of the month and likely spent more than 30 bucks. I remember when it was 1.75. Oh well,...

Screen Shot 2021-09-07 at 3.23.49 PM.png

 

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