FCM - Are you planning to sell your house when you’re ready to move to the boat?
I’m in a similar situation. I’ve surpassed my savings goals, no debt, farm paid off. I’ve been saving about 50% of my gross salary every year. I’m finally getting to the point where I think I can ease up on saving and cut it back to 35-40%. I would love to retire yesterday, but I have 5 more years until Medicare kicks in. My company offers retirees insurance at the COBRA rate, but that would still be $700/mo. I’m not ready to throw that kind of money away. What I might do is sock a good bit away in my FSA, and when I get enough to cover the remaining COBRA payments and out of pocket maximum, retire then.
Have fun!
StG
We’re not moving on the boat. Those days are long behind us. The boat will be our getaway, not our residence. At most, we’ll take a few months and cruise down the intracoastal, but mainly, it’s for short hops with the grandkids.
We’re both on Medicare, but I still carry our health insurance from my retirement. Turns out it’s better coverage for less cost than the equivalent supplementals. So we’ve got that going for us. I never imagined health insurance would be such a major issue in retirement.
Wow! I’m not a boat guy but that boat looks great. Do you mind a few questions? When it says rebuilt engine, does that mean a total overhaul and it only has 150 hours on the rebuild? Does it have a warranty on it? What kind of range do you get with 400 gallons? Finally, who gets to wear the Captain’s hat and who plays Gilligan?
As I understand it, the engine has only 150 hours on the rebuild - the seller has all the maintenance records, but we haven’t looked at them yet. We will, tho. As to range, over 1000 miles, but it depends on fuel consumption at a given speed and whether you’re going with or against the current, as well as weather conditions. Consumption is given as gallons per hour as opposed to miles per gallon.
Spousal unit did have a Captain’s license about 20 years ago, but he let it lapse. However, he is a much better boat handler than I am close in, like docking. But I’m by far the better navigator, and I have more patience at the helm underway - he gets bored just sitting and steering. So we’re a good team.
Sounds like you’ve got it all worked out. Congratulations on your new getaway home!