Time to Downsize and Invest in Ourselves

As I prepare to retire and we (as a family) come to grips with the fact we’re going to be moving onto a boat as a whole family within 9 short months, we’ve gotta downsize and look carefully at what needs to be done to achieve our eventual goal; casting off the docklines and setting sail into the sunset.

-After owning and loving Tulum IV for three years, we faced up to the fact that we wanted a boat with different features AND we wanted to keep our dog.  We had actually gone so far as to consider getting rid of the dog to keep the Tulum IV but could not bring ourselves to do it, so we’re going in the opposite direction and buying a boat for the dog.

-We’ve been discussing and thinking about the family moving onto the boat after I retire and while my wife keeps working.  This means living in a slip for a year or more to keep saving money (specifically by not owning a house and a boat at the same time).  In my mind, this ought to be able to save us some money?

-In realizing all this, I’ve started to think through the moves coming up.  I like to look at the end result and back plan from there, thinking through all the ways it could be done without driving myself nuts.  This produces even more questions and scenarios to think through, often needing me to make decisions now that might affect us in the future.

-While doing this now, we’ve started to tighten our belt in different, small ways that will start to see results slowly.  Things like putting wine clubs on hold, not renewing magazine subscriptions, looking at our insurance carefully, making sure our investments are where we want them, slowing down on eating out and taking the time to carefully think through the next boat.

-As I mentioned above, we don’t want to be paying for a house and a boat at the same time if we can help it, there are lots of costs that go into both and we can’t live in both at the same time.  Realizing this and knowing that our current house isn’t somewhere we’re going to be forever; we’ve put the house on the market (now) to get it sold before or by the time I retire.  This will take a huge load off our backs financially; when it sells.

-Downsizing and simplifying- I love doing this.  It means there’s change and forward progress and I’m a simple creature anyways.  Downsizing from a large house to a boat doesn’t mean you get rid of everything,,,it means you make decisions about what you want on the boat, what you want in storage and what you don’t really need or use anymore.  So this is the conversation that has not happened yet:  1.  What do we want on the boat for use in the slip and for use when cruising?  I think there’s gonna be things that are different and we’ll get rid of some of that stuff right before we shove off.    2. What do we want to keep that we own now in our house but don’t want on the boat, that stuff needs to go into storage.  3.  What do we own now that’s falling apart, broken or won’t be of use to us in approx 5 years after sitting in a storage shed the whole time? Yes, most of us probably have some of that stuff, we do.  Stuff we don’t need or use anymore provides a wonderful way to get tax write-offs, as donations are just that, tax write-offs.  That’s ok, all four of us need to realize there’s only so much space on a boat and we can’t treat it like a house,,,,although it will be our home.

Saturday we’re headed to San Diego to check out the Aleutian 51 I’ve mentioned before.  I’ll sit down and write out my thoughts on it Saturday night and post it up here for you all to read.  My broker called me out of the blue today,,,,telling me he’d been on the boat when it was moved a few days ago and he was really impressed, so we’ll see and make our own decisions.  Stay with us as we work through all of this.

PS:  At Thanksgiving someone asked me where we were planning on doing the annual Thanksgiving Feast if we didn’t have our house anymore.  Without even giving it a second’s thought,,,,,I answered,,,the boat- of course!

 

 

 

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