Sailing Fund Meter
This is our savings progress so far. This meter will be updated each time we hit a new $10,000 threshhold. Projected cumulative savings by year are Year 1: $60,000, Year 2: $120,000, Year 3: $200,000, and Year 4: $300,000. As the fund grows, so do earnings, so we’ve projected it out over time, and think this is where we could land if we average 15% earnings per year on our investments.
Cruising Kitty Spending Overview
Assuming we hit our savings targets, the following diagram shows the total amount we plan to save, the amount we’d like to spend on the boat, plus upgrades, repairs, and equipment for the boat. The amount leftover is the Cruising Kitty. We are projecting investment earnings of 15% per year (which may be overly aggressive), with our monthly spending budget set lower than our monthly earnings. If this actually works out, we will not only be able to sail for as long as we like, but be able to grow our original cruising kitty over time. All of this depends on us being able to sock away a substantial amount of dollars over the next three years, which may or may not be doable – we’ll post details on the sailing savings plan soon.
Our Cruising Budget
The following chart provides an initial stab at what we think we will spend while cruising. It was constructed after studying several real budgets of long-time cruisers. In our first year of cruising, we think we’ll spend quite a bit on recreation and marina fees, so these buckets may shrink after year 1.