Hello fellow sailors. I respect and appreciate all of your opinions and have been helped so much by all of your advice. That is why I am asking for help with planning my cruising future. My wife and I will retire in 13 years with public/govt retirements and def comp for each of us. I will be 53 and my wife will retire early at 57. Retirement looks ok, with the exception of medical insurance. I have no idea what that will look like. I am currently without a boat and am questioning if I should buy another boat to further develop my sailing skills here in the Pacific Northwest or pocket as much money for cruising. I honestly can’t imagine not having a boat, but I do have some options.
Should I buy another boat???
1) Don’t buy another boat and put as much money away for cruising as possible.
2) We have a local sailing club here that has boats in three different areas. Dogs not allowed and our dog goes everywhere with us. Plus, not taking the dog leaves us limited to day sails. Restricted on how long can have the boat, but the cost is $184 month. No worries about fuel, maintenance, or insurance.
3) Buy a boat and enjoy it. This doesn’t make the most financial sense, but there is no guarantee I will live to see retirement. Would be a shame to bank everything on a life I never live. If this is my choice, I have to decide what type of boat to buy. The most I would sail would be offshore between Columbia River and Puget Sound.
I guess I am asking for different opinions on being a penny pincher for the biggest cruising fund, the middle ground of a sailing club but not as convenient, or the expense of having another boat. I want a boat, but when I look at the numbers, it is staggering and makes me feel irresponsible. This is my estimate and estimates from prior ownership.
No boat = 0
Sailing Club = 184 month for 10 years $22,080
30-36 ft. boat $30,000
30-36 ft. boat slip fee $250 mo. for 10 years $30,000
Insurance at $30 mo. for 10 years $3600
Maintenance estimated $3,000 per year X 10 $30,000
The boat will still be worth something at the end of the 10 years, or maybe I buy my blue water boat now and I will know the boat inside and out before I cruise. If I do buy, this seems to make the most sense. Especially after having my last boat, we decided I will not buy another boat that I can’t sleep comfortably on. At 6’02” and someone who sleeps very restless, I need a big birth. I have been told I can’t look at a boat as an investment and to expect to blow money and have experienced this. I am however attempting to be a wise sailor that gets the most bang for my buck. I would appreciate any advice, especially from current or past cruisers with experience. Was there anything you wish you would have differently with your money???