3 Years to go

We have 3 more years to retire. Financially we will be fine. Our plan is to go from NY to Fl. I think it's a NY State law, when you retire, you go to Fl. The plan is to sell the house, kiss the kids and the grand kids and travel down the ICW to Fl. We will take our time, maybe 6 mos. We have a condo waiting foe us in PGI and will rent it out until we get there. The question I have for the forum is this.

We have a 27 Ranger Tug and I feel it will get real small after about 30 days. I love the boat, just don't love the space. Do we make the plunge and go all in on a used N37? We're talking about an additional 100K. That's a lot of $$$$! We are not rich, by any scale I have looked at. It would either deplete 75% of our cash or we would have a note forever. Once down there, we will travel to the keys, Bahamas' and all over West Fl., so we will use the boat. It's just that additional $$ I'm concerned about.

Any thoughts? (That's a rhetorical question, I know there will be many thoughts)

No, no,no,no. I will reiterate. No,no,no,no. A bank note ties you to the bank. The best cruising is with no worries and enough disposable income to have fun disposing of it. You may well decide that cruising just aint your thang, big or small boat. But, you may decide you really like it and a bigger boat would be better. You probably will decide you like it just like you have it, for awhile anyway. Go small, go now.

IMO, 27' is too small to live aboard for more than a few days. It would take at least a 34' trawler and maybe a bit more to be comfortable for months. But it does not have to be a used N37, which is in the mid to upper $100s. There are lots of suitable trawlers on the market for less.

And as another thought, live in your condo in PGI (Punta Gorda Island, right?) for 6 months out of the year and then cruise up to the Chesapeake in May, LI Sound in June and maybe Maine in July and August. Head back to PGI in time to beat the freezes.

It breaks up your boring life in PGI (just kidding!) and lets you cruise some of the best in America.

David

Your post sounds like you have only two choices. Keep the ranger or buy a N37.

In reality you have allot of choices in boats, and the N37 is just one of them.

As far as having loans through retirement, my vote is no. Its allot easier to lower your expenses at this stage than it is to increase your retirement income.

I would cruise your tug to Florida and see how small your boat is for a 2 month long trip. Then do some cruising around PGI (Punta Gorda, FL I assume) and SW FL to see what you will really need in a boat. You may decide $100K cruising kitty will be more fun than another $100K in your boat. Used trawler market is probably better (cheaper) in FL than in NY.

Ted

I thought about living in PGI for the winter and Trawler up here in the summer. Very interesting thought. But, I also like the places to head to down there. I think the note thing is important, that will be the deciding factor. That would cut into the budget a bit.

I would consider cruising the Ranger to FL to keep it or selling it up north and buying a used but larger trawler down south for less money. I'd resist the temptation to cruise to FL then sell due to deflated boat prices there. Sell up north and drive to FL to buy your new dreamboat...not necessarily a N37.

Rangers are nice, but their prime attraction is their trailerability. That's got to be worth a premium if you sell it up north. Then you'll have a pocket full of cash to spend on your next boat without going into debt. There are a lot of boats in the 35-40 ft range for what you can get for you Ranger 27...they just won't be as new.

Retirement spending is a whole lot more fun when you have money in the bank. Driving up debt in retirement is not a good idea, IMO. We bought our boat 5 years before retirement to try it out and if we liked it, fix it up to our preference for retirement. We did this while we still had loads of disposable income during employment. We retired 2 years ago and have been enjoying the boat in its improved state without having to foot the bills of improvement on our retirement income.

There are loads of folks out there who have done the same thing with their dreamboat in retirement and now are looking to move on to something less demanding that cruising. Those cherry boats are out there for the picking. I would think FL is a target rich environment for anyone looking for a boat to buy.

Being retired too, I recommend you not spend your cash or incur debt to get a bigger boat, especially since you sound like it would be a financial stretch. You may need the cash or the borrowing power for something unforeseen. In the mean time, take comfort knowing it is there and enjoy your paid-for smaller boat.

The smaller the boat, the bigger the adventure.

There is a lot of good cruising to be had in a boat like the Ranger on the Fl's Gulf Coast. I'd vote to keep the ranger for a while, couple of years, in Fl and see how things go.
Steve W

There are many more things to consider. You speak of the space of the Ranger Tug and I'd ask, "Why do you need more space?" Is it just two of you most of the time? You're talking about keeping a condo so not confined full time to the boat. Now, if you decide at some point, you need bigger, there are many choices other than a Nordhavn.

Yes, you might get less for your Ranger Tug if you decide to sell it in Florida. You might also sell it quicker although it's more of a New England boat. But you have twice the selling season.

Is your cruising going to be 30 and 40 mile days? Are you going to anchor or dock at marinas when cruising? Or are you going to try to go further per day? I ask this because more than size, I see fuel, water and holding tank sizes to be an issue. Does your boat have air conditioning? Does it have a generator? If not, that could be an issue using it in Florida and selling it there and indicate selling it up North may make sense.

If you and wife or you and guests is a big difference. How long will you and your wife be happy staying away from home at a time?

What amount are you comfortable spending on a new boat? I might suggest during these three years chartering one size up along the Florida west coast. See how a 36' Grand Banks compares to your boat. Lots of chartering in the area you're going.

In retirement I wouldn't go into debt and I wouldn't stretch myself because the cost of owning a boat is always more than one anticipates. Take a trip to Florida, maybe the same trip as when you charter and look at some of the boats that would be in an affordable range for you. You have three years to evaluate the situation and decide whether to sell your boat now or take it with you. However, you need to do some things that will help you with that decision. If you arrive there having not bought a boat, you just continue to look and maybe charter a couple of more times. We moved to Fort Lauderdale and chartered a lot our first year there.

I'd start with a list of all the considerations and then decide which issues are deal killers vs. desire. On my list, above a certain dollar amount would be a deal killer always. Most other things are just preferences and wants. But by actually putting all these things on paper, it will help you focus on the things that will influence your decision.

Also, what with boats being a DEpreciating asset, why buy now? If anything, I'd sell the boat you own, and then use that money to go shopping down here in Fl

Florida is paradise in two ways, weather and boat shopping

Just my $.02

I agree with most, hold the current boat and when you retire in 3 years take it down to Florida and see how it goes, the picture of what you want/need should be alot clearer by then and no debt on a boat is a very good thing, all the best, sounds like a great position to be in, congrat's!

Thanks for all the responses. Now a days, you can buy a boat anywhere. Yachtworld has boats from every area in the USA. The reason for wanting a bigger boat before we leave is the trip down to Fl. I would love to just sell the house, jump on the boat, cast off the lines and say bye-bye. Whenever I get to FL., we get there. A nice trip, if you are comfy and cozy. I can't imagine being happy on a 27 ft. boat for any length of time. Plus, when we do get there, our friends also like cruising and they are going somewhere every month or so. The only thing I have to get used to is the added debt. Of course, every one of us has that perfect boat, and it usually is NOT the one we own! But, like someone said in this thread, "It's not such a bad position to be in." Life is good!

chester613 said:

Thanks for all the responses. Now a days, you can buy a boat anywhere. Yachtworld has boats from every area in the USA. The reason for wanting a bigger boat before we leave is the trip down to Fl. I would love to just sell the house, jump on the boat, cast off the lines and say bye-bye. Whenever I get to FL., we get there. A nice trip, if you are comfy and cozy. I can't imagine being happy on a 27 ft. boat for any length of time. Plus, when we do get there, our friends also like cruising and they are going somewhere every month or so. The only thing I have to get used to is the added debt. Of course, every one of us has that perfect boat, and it usually is NOT the one we own! But, like someone said in this thread, "It's not such a bad position to be in." Life is good!

Click to expand...

You may be surprised at the affordability of some boats. When you get out of Nordhavn conversations you find a lot of very capable coastal boats. Figure out what you want and your budget, find a broker you are comfortable with, and let him look for you. Don't think of brands but think of uses and what you want out of it.

I have lived in PGI since 2001. For six summers we have gone up the ICW to the Hudson River and Long Island Sound. We are the exception to the rule. If you are planning on joining a boat club and going on club cruises you may already have the perfect boat. Most people retired in PGI are weekend cruisers or at best one week cruisers. Looking around PGI you can see several ranger tugs up on boat lifts. At low water in the winter it takes a vessel with less than a four foot draft to be able to get out of the channel if the normal NE wind is blowing. (And to my neighbors, yes I know that you can time your departure for a higher tide, I'm just saying).
So my suggestion to you is start your trip south in August. Take your time and you will still get down to PGI in mid October even if you cut over by Stuart instead of going around the keys. That way your not on the boat for six months, you will find out what you like and what you don't like about cruising and can then make a decision you have less of a chance regretting. And don't kid yourself. There is a market for Ranger Tugs in Florida.

My R27 has everything. That's why I bought it. A/C, Genny, solar panels, shore power, the whole 9 yards. The only problem is the room closes in on you after a few days. Forget about having guests. But, maybe that's not a bad thing. 6 for cocktails, 4 for dinner and 2 for overnight.

Fuel economy is good. About 2NM per gallon, once you find the sweet spot. It has both bow and stern thrusters, so docking is nice. It only draws 2 1/2 feet, so I can go anywhere.

I came from a 38 ft. sail boat with plenty of room. I had 2 heads. (Like you need 2 heads on a boat) I would like to sell the house, get on the boat and sail away with no schedule in mind. I can't see that happening with this boat. I am concerned about debt, but my pension/SSI will be decent and I probably could afford a small payment, if necessary.

I really like the N37, but they are a little pricey. Maybe, I just need to look at boats and not be brand specific? The Rangers are pricey also, so that will be a nice down payment.

I definitely want a newer boat, say 2000 and up. I'm not as flexible anymore, (who is?). I will do routine maintenance myself, but will have a budget for mechanical stuff. Fuel will be a concern. I also heard that most people, when they throw off the bow lines, plan on anchoring out a lot. Then reality sets in and the marinas become more of a routine. That will chip away at the old budget as well.

I just tell my kids, I'm spending their inheritance. I'm going to stick around until I become a burden and I spend my last $20.00 bill.

guests when cruising are overrated. Out 44' drinks 12 and sleeps 2 just the way we like it.


That boat sounds great for PGI gunkholing. There are may smaller coves and hide outs that larger boats cant enter plus the entire Glades area is open to you go in winter.
Big boats are for going big distances but IMO the best cruising can often be found in short hops. There is so much to do in west and south FL that is in sheltered areas I think you will be fine. You might want to tow a small OB skiff too. Look at the detailed charts of the area and you will be amazed at the variety, old FL cruising at its best.

As to guests, while you're out enjoying yourself, a lot of your friends are still working and can only join you occasionally. As to kids, their schedules are very full. I know one couple that thought long and hard about whether to go larger to have space for their kids when they can join. They ultimately stuck to smaller and on those occasions their kids join, they find hotel rooms for them along the way. While we've never stayed in a hotel when cruising, I know one owner of a 56' Hatteras who cruises regularly, has a captain, is currently on the loop (looks like he'll complete it in 4 years or so) and never spends a night on his boat, always hotel.

Tailor a boat to your 95% usage and you'll figure out a way to handle the other 5%. For instance, grandchildren once loved visiting grandparents and sleeping on pallets (think that's what quilts on the floor were called), well now air mattresses in the boat's salon are many times more wonderful than that. I remember the best times with my cousins were visiting my grandparents for holidays and typically there would be 6-8 of us crowded into a room upstairs and overflow sleeping on the floor in the living room. (Yes, my grandparents had 7 children and eventually around 25 grandkids). Best times of our lives although many nights we didn't sleep much.

chester613 said:

My R27 has everything. That's why I bought it. A/C, Genny, solar panels, shore power, the whole 9 yards. The only problem is the room closes in on you after a few days. Forget about having guests. But, maybe that's not a bad thing. 6 for cocktails, 4 for dinner and 2 for overnight.

Fuel economy is good. About 2NM per gallon, once you find the sweet spot. It has both bow and stern thrusters, so docking is nice. It only draws 2 1/2 feet, so I can go anywhere.

I came from a 38 ft. sail boat with plenty of room. I had 2 heads. (Like you need 2 heads on a boat) I would like to sell the house, get on the boat and sail away with no schedule in mind. I can't see that happening with this boat. I am concerned about debt, but my pension/SSI will be decent and I probably could afford a small payment, if necessary.

I really like the N37, but they are a little pricey. Maybe, I just need to look at boats and not be brand specific? The Rangers are pricey also, so that will be a nice down payment.

I definitely want a newer boat, say 2000 and up. I'm not as flexible anymore, (who is?). I will do routine maintenance myself, but will have a budget for mechanical stuff. Fuel will be a concern. I also heard that most people, when they throw off the bow lines, plan on anchoring out a lot. Then reality sets in and the marinas become more of a routine. That will chip away at the old budget as well.

I just tell my kids, I'm spending their inheritance. I'm going to stick around until I become a burden and I spend my last $20.00 bill.

Click to expand...

You just said it right there.

Your R27 has everything you want, except room.

So you can make the best of the room situation by not sitting on the boat. Park in cool places and explore. The boat is somewhere to come home to at night.

Having a few years ago come from a 28' cabin cruiser to a 47' footer, I know that the flexibility and maneuverability of a smaller boat has some real advantages.

You could put your boat in a trailer and in four days be exploring the pacific northwest for example. For me to move my boat from the pacific northwest to your location would require several months. Enough time I may never do it.

Another way to avoid cabin fever and cheaper than a new boat. Agree that every so often, set any time frame you want, you'll stay in a hotel or motel. Vacation for a night from the vacation.

We were worried and our first boat after moving to the coast was a Riva, not exactly designed for space. We said we'd spend one night a week in a nice hotel. Came time we had no interest. Two years later we've cruised many thousands of miles and never once chosen to stay in a hotel while doing so. But we had that out had we needed it. We didn't know.

Also, we explore on land. We walk. We take in as much as we can. We dock at marinas, sleep on the boat. But during the day we're out and about. By the end of the day we're a little tired and are glad to get home and collapse on our boat. We go into every place with a list of things we want to see. You may think you've seen all there is, do some research on line and you'll find more hidden gems. And mostly absorb the feel of the community. There is no where we've been we couldn't enjoy going back to. Now we typically stay somewhere two or three days. We do it intentionally to leave things for next time. But most places can keep you busy for a week or more. We also explore in our dinghy. Just ride around, go inside creeks and see what's there. We can spend a day easily doing that. For instance we love Savannah. But most visitors never see all the forests all the natural habitats. They don't explore up the river further or around all the islands. We've spent three days so far doing so and next time we're there I'm sure we'll take another day.

How's about one of these! Not that I'm biased (not)!

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Jim
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