Today I worked on a spreadsheet to determine our best options with timeline to get us to our dream of sailing around the world.
I included 5 scenarios –
- our current mortgage and lifestyle – nothing changes
- our re-financed mortgage and current lifestyle – nothing else changes
- moving in June 2013 (which we plan to put house on market in April. School is out in May. Hopefully house is sold by June.) to a smaller, less-expensive home, waiting to buy a boat until we can save enough for down-payment, continue living in less-expensive home until we are ready to cast off.
- moving in June 2013 to a smaller, less-expensive home, waiting to buy a boat until we can save for down-payment, then moving on boat until we are ready to cast off.
- moving in June 2013, buying a boat right away using a 401k loan for down-payment, living in smaller, less-expensive home until we are ready to cast off.
*Ready to cast off included two scenarios – one for having $100,000 for RTW trip… or one for having $75,000 for RTW trip.
Based on the above options… can you guess which one gets us to our dream the fastest??
Options 3 & 4. Option 4, although it gets us there a year faster than #3, it includes us living on the boat in a marina for 18 months before we cast off. Not so worried about the “living on the boat” as that’s our plan for the next few years… But “living on the boat while both Matt and I work from home” seems like it may be too much. We may be sick of the boat before we ever leave…
Of course there are a million other scenarios in between, and this doesn’t account for any obstacles or bonuses that come our way, but it is a good exercise to get us thinking of the best way to get to our dream.
Filing today’s activity in Get Rid Of It and Scout It.