Supporting Your Cruising Lifestyle

[Stingo]

Just curious, if you are too young to have a pension, how are you keeping your cruising coffers adequately topped up?

 

[sailaboutvic]

I guess a good percentage rent their homes out ,
you be surprised how many cruisers there are under pension age but many sabe and do it for a couple of years then return back to work , or even take a few months off and fly home to work for a bit .

 

[Poignard]

Larry Pardey, helped by his wife, used to carry out yacht repairs along the way (he was a very skilled boatbuilder) and also did yacht deliveries..

 

[Poignard]

I guess a good percentage rent their homes out ,
you be surprised how many cruisers there are under pension age but many sabe and do it for a couple of years then return back to work , or even take a few months off and fly home to work for a bit .

If my wife and I were to rent out our London house we would have more than enough to fund a very comfortable full-time cruising life. (Well, as comfortable as one can be in a 28' Twister!)

Trouble is, she is not amenable to the idea. She's more interested in golf, book groups, play-readings, theatre-going, lunching with other ladies, etc.

 

[Stingo]

Anyone working remotely? How's that working out with needing a reliable or constant Internet connection?

 

[Poignard]

Thers's a couple in La Roche Bernard, Brittany, living on a beautiful yacht called 'Budding Rose', and she augments their income by cooking and selling galettes from the boat.

Budding Rose, pancake peach!

 

[sailaboutvic]

Anyone working remotely? How's that working out with needing a reliable or constant Internet connection?

You can buy sim card anywhere now , but the realabily is hit and miss .

 

[sailaboutvic]

If my wife and I were to rent out our London house we would have more than enough to fund a very comfortable full-time cruising life. (Well, as comfortable as one can be in a 28' Twister!)

Trouble is, she is not amenable to the idea. She's more interested in golf, book groups, play-readings, theatre-going, lunching with other ladies, etc.

This can be a problem , quite a lot of women like their home comfort.
Some thing to be awhere off anyone thinking about renting there home , come the day to sell it you have a capital gain tax to pay.

 

[Minerva]

This can be a problem , quite a lot of women like their home comfort.
Some thing to be awhere off anyone thinking about renting there home , come the day to sell it you have a capital gain tax to pay.

I was of the understanding that CG tax is only on secondary homes therefore if you move back ‘home’ and stop letting it for a period before sale , then no CG tax will be liable.

 

[Stingo]

Okay, before we head off on a CG tangent, how are you permanent cruisers finding work?

 

[capnsensible]

Anyone working remotely? How's that working out with needing a reliable or constant Internet connection?

We've met a lot of people working from aboard. Marina wifi is often pants but it's cheap enough to get a local sim card these days. As per covid, there are stacks of people just doing the same working from home thin.

Yacht repairs, nah, forget it. Word gets round and locals will dob you in....sewing repairs probably an exception!

A friend of ours tried drug smuggling. Went OK until he got caught. At least he got free meals and Spanish lessons for a few years and his sons had to pay his mooring fees. I'm not sure he saw the positives, though.

 

[capnsensible]

I guess a good percentage rent their homes out ,
you be surprised how many cruisers there are under pension age but many sabe and do it for a couple of years then return back to work , or even take a few months off and fly home to work for a bit .

We bought a house in a warm place for holiday letting. Did well.

 

[AndersG]

Anyone working remotely? How's that working out with needing a reliable or constant Internet connection?

I worked remotely for years and could have worked from the boat but what's the point of being anchored in paradise when you have to sit in front of a computer from morning till evening?

 

[Daydream believer]

Financed new purchase from savings & running costs from income. But made sure I had suitable buffers in place first. Now it is from pension,----- with top up from wife when things went t..ts up with engine last month

 

[sailaboutvic]

I was of the understanding that CG tax is only on secondary homes therefore if you move back ‘home’ and stop letting it for a period before sale , then no CG tax will be liable.

Sorry to say that’s not the case ,
there a relief for the time you lived in it .

 

[sailaboutvic]

Yacht repairs, nah, forget it. Word gets round and locals will dob you in....sewing repairs probably an exception!

I think a lot of people think there going to earn out of repairing boat but the fact is there plenty of people like me who happy to help another cruiser for free

 

[lektran]

We sold our house in NZ and came to the UK to buy a boat, spent less than 15% of the proceeds on the boat and invested the rest. I'm working in IT remotely three days a week which more than covers our liveaboard costs, we aren't big spenders. We have an annual berth in the solent this year and 5G wifi works well most places, we'll head further afield next spring once we're done refitting. In theory I could stop working and maybe we'd survive on drawing from the investments but three days a week really isn't that much of a strain on our cruising life and we're much more financially secure.

 

[Stingo]

We sold our house in NZ and came to the UK to buy a boat, spent less than 15% of the proceeds on the boat and invested the rest. I'm working in IT remotely three days a week which more than covers our liveaboard costs, we aren't big spenders. We have an annual berth in the solent this year and 5G wifi works well most places, we'll head further afield next spring once we're done refitting. In theory I could stop working and maybe we'd survive on drawing from the investments but three days a week really isn't that much of a strain on our cruising life and we're much more financially secure.

Thanks for that, it's good info. PM sent with more questions,

 

[chris-s]

You can buy sim card anywhere now , but the realabily is hit and miss .

Starlink

 

[Trident]

I've been living aboard and cruising (with a Covid enforced stop in Chi Harbour for 2 years ) for over a decade

I have Starlink aboard for full time connectivity at high speed. I have a business that I moved from doing in house to out of house and just have to administer for 20-30 minutes a day online. I have investments from savings (savings, which go up very quickly when living aboard - no water or electric bills, low diesel costs because we have sails and use them) and my wife is an author so can write and email in books from anywhere. Frankly any job that moved to work from home could be done with Starlink - we lose connectivity for an average of 2 minutes a day, have 150 mbps speeds (just watching Blondie live at Glastonbury on IPlayer while at anchor and writing this ) and its £85 a month. If we stop at a marina for winter , we can suspend the Starlink ad go to cheaper 4/5G .

I can draw my pension in 3 years time but have been doing this full time for 11 years without any problems