I am excited to report that we are really getting closed to achieving our goal of becoming retired sailing cruisers! We hatched this plan back in 2006. For more info, see my post from June 12, 2012:
At this point, we live aboard a 30' O'Day and rent out our house (Ravens House).
On the same property (aka Ravens Camp) we are building Ravens Cottage, a small 420 sq ft cottage with loft. This should be complete in Spring/Summer of this year! We will be renting this out as well.
We live very inexpensively aboard but we have incurred a lot of debt getting these houses complete. Once we have both rental incomes coming in, we plan to work for one more year (or so) to pay down debt and then refinance all remaining debt into one loan with a manageable payment. We estimate that we will have $1000 to live off per month after all debts are paid and after deposits into Property and Boat maintenance accounts. That's until Social Security kicks in about 7-10 years from now.
This will will make for a tight budget for our first years of sailing, but should be workable if we have a sailboat that is off-the-grid and self-sufficient and we spend these years in Mexico, and South/Central America. I have a small retirement account that we plan on emptying out to buy a slightly larger and much more capable blue water cruising sailboat.
So, if everything goes according to schedule (ha!) We should be retired and on our way in 2019 or 2020 at the latest! Only a couple years away!
Hopefully I will be giving you a Casting Off the Lines blog in the next couple of years.