Selling up and setting sail...

[Tranona]

It is. Or was, just almost everyone doesn't jump for countless different reasons.

A very common refrain around happy hours is "No regrets, though we only wish we'd done it when we were a bit younger..."

Big difference between "is" and "was" - and the choice is inevitably influenced by other choices one has already made.

So in reality it is but ONE of the choices that may be open to you - but only if you are "young"

So, not available to everyone - and hindsight is a wonderful thing. Just ask those "regretters" why they did not make the choice earlier and the answer is most likely to be a variation on my first sentence, usually preceded by the words "Well, because..." followed by the choice they did make which precluded going off sailing! It may well also be blamed on other people. You can probably fill in all the other reasons/excuses.

 

[Graham376]

What advice would you give to someone thinking of selling up and setting sail?Pete

Think very carefully! I retired at 53, wife a couple of years younger so we've had 19 years of retirement so far. Until pensions kicked in had to live off savings. We downsized house and just lock up and leave it for around 8/12 rather than renting or selling Have got to the age where friends are falling off their perches and no way do I want to end up in some "foreign" hospital or rest home so can return home any time and have not dropped out of the UK NHS for when treatment needed.

We've met several couples over the years who have sold up and sailed but have encountered severe problems when money has run short and one has become seriously ill. They found the boat is worth little, they're out of the UK health and care system and score less points for a council house than newly arrived immigrants.

 

[Kelpie]

My tuppenceworth, from the point of view of somebody who has yet to sail away.
Around five years ago, SWMBO and I agreed that long term liveaboard life was what we wanted. At the time we had a well found and capable, but small, boat, in which we had clocked up several thousand miles. Technically we could have moved aboard and set off- but with a huge mortgage hanging over us, that renting out the house would barely cover, and with no means of income. It just didn't seem a practical plan.
Instead, we set out on a roughly ten year project to put ourselves in a position to sail away. We got a bigger boat- although in hindsight we should have held out until much closer to the time. We started a family. We started a business, which we will be able to run remotely and which should provide a steady income. And we have been putting every spare penny towards paying off the mortgage so that we can be debt free when we leave, with the house rented out for additional income.
So far, it is all going according to plan, and we expect to be able to leave in about three to five years time (timescale mainly depends on whether we buy a different boat, and how much that costs).
I'm not really in a position to offer any advice. But I would say buying the boat is probably the easy, and fun, bit. What is much harder is to get yourself on a financial footing that makes sailing away possible.

 

[nortada]

Think very carefully! I retired at 53, wife a couple of years younger so we've had 19 years of retirement so far. Until pensions kicked in had to live off savings. We downsized house and just lock up and leave it for around 8/12 rather than renting or selling Have got to the age where friends are falling off their perches and no way do I want to end up in some "foreign" hospital or rest home so can return home any time and have not dropped out of the UK NHS for when treatment needed.

We've met several couples over the years who have sold up and sailed but have encountered severe problems when money has run short and one has become seriously ill. They found the boat is worth little, they're out of the UK health and care system and score less points for a council house than newly arrived immigrants.

Agree everything in this post but would there is more than one way to get into the dream.

In our case rather than sell up and sail, we sailed and then sold up, 5 years later. By this time we had confirmed it was the life we wanted and had the experience to make it work.

Sold up, not strictly true, we downsized massively to leave us a foot hold in Blighty, because one of the things we had learned is you need to have a UK presence and a bolt hole

Some 17 years on we still are living the life but realise it cannot go on for ever so our thoughts are what next.

Hate to raise the topic, but Brexit could make our minds up for us. Only time will tell.

 

[TQA]

Aged 43 I sold the house bought a boat and set off in 1992 and had 7 great years cruising

At age 50 I went back to work for 10 years to top up the pension and retired at 60 sold up again and had 2 great years exploring North America in a RV then bought another boat.

Life is good.

 

[sailaboutvic]

I took the plunge first in 1991 , children's making their only way in life ,after being a single dad for a lot of years .
I sailed off in a small 26 footer solo then and been doing it ever since , (no I not still on a 26 footer .)
I started off part time ( six summer months )the last nine last years full time .

After 28 years living on board one way or another what have I learned ?.
For a start living on a very small boat long term is hard work even if your solo and if your a couple some thing usually give in the relationship very quickly .
The first six months is fine , it's all new it stop being exciting and new once you been doing it a year and you know you got another hot summer and a cold winter to deal with.

Trying to live and cruise on small amount of money is almost impossible sooner or later some thing breaks and you need the fund to replace it .
Not being able to socialise with others or not to be able to treat yourself to a ice cream or a beer because you spend your budget for that weeks is just a missable way to live .

Taken off on a half fixed boat with the intention of doing up as you go , is full of problems and a very costly way of doing it .

Sell up a property to finance your dream can be a big mistake especially if your late in life , as some said down size or rent out but with no income replacing the money you have to start with you going to need to do get your sum right , don't expect to sell your boat tomorrow if all goes wrong or someone becomes too ill to carry on the dream and step back into your old life .
Most important of all
make sure if your in a relationship, your both 100 % commit , forcing your dream on your wife/partner isn't going to work .

There different type of group we meet now which are very different to years back .

young couple with a three to five year plain .
Young enough to return back to work and pick up where they started they have enough funds to last that time and live a good life some with very young children.

There the summer still working liveaboard who return back each year to top up their money .

There the retired once most we met have property left empty to return back in the hot months and the winter , some do have them rented out and living off their income .
All have one thing in common , their boats may not be brand new but are in very good condition and a good size ,
All have a good size funds one way or another to live their dream .

Sadly there another group and those who keep their boats in posh marinas to use as holidays home don't see this groups.
Most single guys on very run down boats who trying to live on. Very small amount of money living they dream if you can call it that ,
You can tell in a very short time having a conversation with them , most aren't very happy and looking for a way out .

The couple in the film in the OP are for sure not in that category.
I be very surprised if their property they sold was a two up two down in the suburbs of Hull , sorry hull people didn't mean any offence.

 

[Mr Cassandra]

Metabarca /Lucien I have noticed you have made no comment , I hope I have not offended you in any way?

Without your generous help, I could have never have bought the yacht and wished we could have met up before I left to thank you correctly.

The lady in my post above was not after my money as some may think, she was from a very rich family with numerous properties in Vienna and Spain. What she wanted was my commitment to her and raise a family in Austria or Spain she wanted another child by me and I kept saying no, I am to old .


AS Vic as eloquently expressed himself. Make sure both of you are 100% committed. I was blind to the fact that other don't always share your dreams completely.


I as a brexiteer wanted my cake and eat it....(fool and to stupid to recognise others needs} Wife in UK a young and beautiful girlfriend on call for the boat. as Chrisy said .Trottle.



( DO NOT BUY A BOAT IN ITALY ] {The hidden cost are horrendous}

 

[SlowlyButSurely]

I would advise anyone thinking of doing this to follow Larry Pardey's advice: "Go small, go simple, go now".

We regularly meet people trying to cruise on large complicated boats who seem to spend all their time looking for an engineer to fix the freezer / aircon / generator / electronics / electric windlass etc. etc. etc.

 

[Graham376]

I would advise anyone thinking of doing this to follow Larry Pardey's advice: "Go small, go simple, go now".

We regularly meet people trying to cruise on large complicated boats who seem to spend all their time looking for an engineer to fix the freezer / aircon / generator / electronics / electric windlass etc. etc. etc.

Used to surprise me just how many owners know so little about fixing even simple things, have always had the income to pay someone to maintain the boat and service engine. If I couldn't fix it, I wouldn't have a boat.

Bear in mind big may be more comfortable but, if marinas are used, there can be a 30% jump in berthing cost at 12m, compared to 11.95m.

 

[PlanB]

Obviously everyone's personal/financial circumstances are different. But from our experience we made the right decision to retire mid-50s and go while we were still fit enough (good decision - my partner died aged 68). We rented out our home for extra income but always kept UK residency. We were lucky to have personal pensions as well as state.

 

[mariadz]

Our plans are slightly different. We are been living aboard for the last three years. Our plan is to build a retirement property in Italy, which is well underway, and rent it out during the summers as a source of income.

Due to some mistaken decisions, investment-wise, we aren’t in as good shape as we should be but every day gets us closer to our dream and I know what I need to do to make it happen.

Hopefully we can earn good money over the next few years and be ready to go while still just in our early fifties.

As for inspiration, we found Sail Away by Nicola Rodriguez helped us to understand the dream and what was achievable. Meeting her husband, John, who sold us our Moody, really cemented that.

 

[sailaboutvic]

Our plans are slightly different. We are been living aboard for the last three years. Our plan is to build a retirement property in Italy, which is well underway, and rent it out during the summers as a source of income.

Due to some mistaken decisions, investment-wise, we aren’t in as good shape as we should be but every day gets us closer to our dream and I know what I need to do to make it happen.

Hopefully we can earn good money over the next few years and be ready to go while still just in our early fifties.

As for inspiration, we found Sail Away by Nicola Rodriguez helped us to understand the dream and what was achievable. Meeting her husband, John, who sold us our Moody, really cemented that.

Hi
Nice boat well done in fitting it out the way it suite you , she be a great liveaboad boat , we should know
Hopefully you get your financial sorted soon and be on your way .