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Is it possible for me to save 80K to sail around the world after uni? Watch

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    Hi
    I am hoping to save up enough money and then after uni spend 4 years working or so and roughly at 25 buy a second hand sailboat and just cruise the world. I know boats are expensive and cost of living isn't cheap but I've worked out that if me and 4 mates decide to go together 80k each should cover everything from boat maintenance,food,recreational equipment and purchasing the boat itself for 2 years or more of amazing cruising and seeing the world. Do you guys think its realistic for us to save this amount of money by then? I know i would be able to live a very simple life for a few years to pursue my dream but would you be willing to sacrifice luxuries for a few years? any personal experiences or opinions would be helpful. btw im 16 just starting A-level so i have plenty of time and plan to save up as soon as i get a part-time job.
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    Would the money not be best used for a mortgage? What do you intend to do when you return? Move back in with the parents?
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    (Original post by A5ko)
    Would the money not be best used for a mortgage? What do you intend to do when you return? Move back in with the parents?
    tbh id rather spend the money on the boat and live an adventure for the next couple of years rather then just buy a house and settle down. when we do return i would imagine we would sell the boat and then return to normal jobs etc.
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    (Original post by thefinanceguru)
    tbh id rather spend the money on the boat and live an adventure for the next couple of years rather then just buy a house and settle down. when we do return i would imagine we would sell the boat and then return to normal jobs etc.
    That easy huh?

    I think you may find life is a bit more of a ******* than you think.
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    (Original post by A5ko)
    That easy huh?

    I think you may find life is a bit more of a ******* than you think.
    i know it isnt going to be that easy just coming back and getting a job and i know it wont be that simple but all i can do is try my best. back to the topic do you think its possible to save anywhere near that kind of money?if not what do you think a more realistic figure is and will it be likely i need to take out a loan?
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    (Original post by thefinanceguru)
    i know it isnt going to be that easy just coming back and getting a job and i know it wont be that simple but all i can do is try my best. back to the topic do you think its possible to save anywhere near that kind of money?if not what do you think a more realistic figure is and will it be likely i need to take out a loan?
    What kind of job would you intend to take for 4 years? How would you afford living during that time?
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    (Original post by A5ko)
    What kind of job would you intend to take for 4 years? How would you afford living during that time?
    i am going to hopefully study engineering at uni so a job with that. I have looked at current engineering figures and the average starting salary for my desired engineering field is around 30k a year. Would it be possible to save around 15k of that do you think? I am most likely going to share accommodation and cut as many costs as possible to save as much as i can.
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    Before you jump into the boat, you will need to consider whether or not you will get a job straight out of Uni. Not everyone does, so this may already scupper your chances.
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    (Original post by A5ko)
    Before you jump into the boat, you will need to consider whether or not you will get a job straight out of Uni. Not everyone does, so this may already scupper your chances.
    if that's the case and i don't get a job i will just use whatever money i have saved up and will have to get a boat loan for the rest. However how much do you reckon i could save a year with a 30k salary
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    (Original post by thefinanceguru)
    if that's the case and i don't get a job i will just use whatever money i have saved up and will have to get a boat loan for the rest. However how much do you reckon i could save a year with a 30k salary
    Impossible to say. It depends on your outgoings and how much you are prepared to sacrifice. You may find that when you get to that stage, some of the luxuries you just can't do without.
 
 
 
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