Very often I read one of us suggesting a one-way ticket to somewhere distant and there to just start again.
Many times, when faced with the ‘slings and arrows of outrageous fortune’ it seems like a very sensible thing to do.
Has anyone on here ever done that?
Or is it more noble ‘to take arms against a sea of troubles and by opposing, defeat them?’
I must admit, I’m getting tired. My former wife is grinding me down slowly but surely and I can’t really see a future where I am now.
OP – here is my retirement plan.
I am going to retire; sell off most of my stuff; buy a sailboat: a solid bluewater cruiser and do a complete refit. Buy some rental property and have a property management company handle it for me, then live on my sailboat and cruise the world.
Real World average cost data for 2 people living on a 30′ sailboat is roughly 20K per year. This includes maintenance: food; fuel; cruising permits; docking fees; haul outs; restaurant bills; bar tabs (these are usually substantial for cruisers); and buying Cuban Cigars (I don’t smoke).
My best estimate is that I can whittle that down to about 14K per year for just myself. My house (once paid off) I can generate (if rented out) a NET income stream of 10K per year after paying the property management company; setting aside money for both property taxes and estimated repairs and insurance.
That leaves me (best case scenario) a burn rate of 4K per year.
IF the house doesn’t rent out; I am out about 4K per year in property taxes; 1k per year in gardening bills; 500 per year in HOA fees; 700 in Insurance; and about 2K in Property Management fees (or about: 8K) which brings my total burn rate up to around: 22K per year.
This is very sustainable for me. In fact: with my income streams and investments: I would still have a sizable positive cash flow: from which I simply would reinvest and let it compound over time.
I figure once I am in my mid 70’s or so: I will transition to land. In which case I am eyeing places like Ecuador where living expenses are wafer thin; and standard of living is very high for American Expats. There is the possibility that I will give up my US citizenship; become an Israeli and then become an Israeli Expat. Israel like the vast majority of the world taxes people on if they LIVE in Israel. The US taxes people based on their citizenship. Ecuador does NOT tax money that comes in from outside of Ecuador.
Essentially I could avoid not only State Income Tax but Federal Income tax as well: AND avoid taxes levied by the Ecuadoran government. This would save me a sizable percentage of money each year (while living in Ecuador) on a sailboat…well…being an Israeli Expat sailing the world…there are no taxes except whatever I buy when I sail into a country, and fees.
A person can become an Israeli Citizen under the Law of Return (it’s in their constitution) if they are Jewish. If a person converts to Judaism; lives within a Jewish community for at least 1 year; and then does “Aliyah” (immigrate to Israel as a converted Jew) within 1 year they get their Israeli passport; then they can turn around: march into the US embassy in Tel Aviv and do the paperwork to dump their US citizenship (about $2500 for processing fees); 5 years of tax returns are needed to show that you have paid taxes; also their is an Exit Tax. Israel has a signed Tax Treaty with the IRS so the Social Security Administration will NOT withhold 30% of social security and any other income streams.
First 5 years under Aliyah the Israeli government does NOT charge taxes (however IF going down this route: DO NOT ACCEPT any monetary help that the Israeli government provides to Olim (new immigrants)! Because if you do: and you decide to pull up your stakes and move outside of Israel and become an Israeli Expat you will have to pay back everything you took in terms of benefits.
Easiest conversion is a Reform conversion. It’s Jewish enough under the law of return to become an Israeli citizen: however (Israel is kind of funny): it’s NOT Jewish enough to be considered a Jew when marrying or being buried in a Jewish cemetery. The Rabbinate has jurisdiction on marriages, divorces, and burials in Israel for Jews. And the Rabbinate will ONLY accept ORTHODOX Jewish Conversions from APPROVED ORTHODOX Jewish Rabbis and Beit Dins (Rabbinical Courts). And I can assure you: doing an Orthodox Jewish Conversion is VERY CHALLENGING!!!! ESPECIALLY if done through an approved Beit Din! It will take on average about 1-3 years and LOTS of studying, etc.
However a REFORM conversion is EASY, and does the job for citizenship. And since we are MGTOW: who gives a f~~~ about marriage?
Personally I love Judaism and I consider it to be one of my highpoints in my life. I am NOT shomer shabbes (obeying the laws of shabbat). However I would NEVER trade Judaism for anything!
So anyway…this is MY path..YOUR path will probably be very different. But my friend: we will all eventually end up in the same place: for their are many different paths: but they all have the same destination. No matter what your faith is.
So I digress…this is how I am intending and positioning myself for retirement.
Many of my investments are in Vanguard Index Funds; some investments in some businesses; and I will be putting money into rental properties. I will also have my social security; and my (very small) pension as well as my more sizable 401K and my Investment account and Roth IRA.
Good Bluewater Cruisers: Westsail 32; Cape Dory, Island Packet, Hans Christian, etc. If you go this route you will need to know what you are doing both in sailing and in doing a refit! As well as safety gear, and how to put in redundant systems for safety.
I have a friend who retired (his wife left divorced him right after he retired) who has been living on his sailboat and cruising the world since 2001. He’s living a very simple life: not expensive; but very rich in experiences; and he is seeing the world on the cheap.
My cost data came from a young couple who gave a very detailed cost breakdown over a year’s worth of time on their 32′ boat. They lived in the Caribbean. My other data came from other cruisers. 20K per year is an average for 2 people: it could be more or it could be less: depending upon their lifestyle and their geographical location.
Expect to spend around a total of about 100-150K for buying AND refitting a used bluewater cruiser (this is assuming you are doing MOST of the refit work yourself) and about 40K living in a cheap area for a year (like North or South Carolina). Boat yards (and rent!) are CHEAPER on the Eastern Coast. The West Coast: EVERYTHING is MORE EXPENSIVE! Have to do the refit in Mexico if you want cheaper!
Meister 3 years, 1 month ago.
