Go Back   CruiseMates Cruise Community and Forums > People > Chit - Chat for Cruisers
Register Forgot Password?

Chit - Chat for Cruisers Open Forum for non-cruise posts. Please refrain from inflammatory rhetoric that could be considered offensive. We reserve the right to edit or delete for any reason.

Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old September 9th, 2003, 09:55 AM
AR
Guest
 
Posts: n/a
Default Life-Changing Event

Since the talk here has turned briefly to winning the lottery, I got to thinking about. . .

The new definition of "a lot" of something (money, love, acheivement, etc.) seems to be couched in the phrase "life-changing." You know, if you win the lottery it is (or isn't) a life-changing event.

So, since cruisers gotta cruise, and since most of us feel we don't do enough of it, what would be the life-changing event that would let you haul your buns upon the seas as often as you like? Or, simply to free you of your cares?

If it's money, feel free to round off the amount in any way you please.

AR
Reply With Quote
Sponsored Links
  #2 (permalink)  
Old September 9th, 2003, 10:00 AM
Senior Member
Admiral
 
Join Date: Dec 2001
Location: My GPS says 12 ft. above 6 ft. under!
Posts: 7,269
Default Re: Life-Changing Event

Just enough money from interest to take a cruise each month and not have to ask the price. A seven day cruise in an ocean view room without air fare would do it for me. And the principal remains the same.

Regards,
Thomas
Reply With Quote
  #3 (permalink)  
Old September 9th, 2003, 10:09 AM
Senior Member
First Mate
 
Join Date: Aug 2003
Posts: 324
Default Re: Life-Changing Event

I agree with Thomas except add the airfare because with the Momster I can't afford what it costs and always have to drive. That and give me the balcony

__________________
Moon


Carnival Spirit

Reply With Quote
  #4 (permalink)  
Old September 9th, 2003, 10:30 AM
Senior Member
Admiral
 
Join Date: May 2002
Posts: 4,017
Default Re: Life-Changing Event

Thomas put it well.

Cheers,
Michelle B.

__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~
Now posting as MichelleP.
Reply With Quote
  #5 (permalink)  
Old September 9th, 2003, 10:41 AM
Member
Passenger
 
Join Date: May 2003
Posts: 98
Default Re: Life-Changing Event

I agree with Thomas, a cruise a month cruise only, without having to ask the price! Make it a suite!!
Additionally, I would like to just once charter out one of the Voyager class ships for all of my friends and family to enjoy for a week. All expenses paid by me!! ( I would probably have to be the biggest lottery winner of all time, which I wouldn't mind at all!!!!!)
Reply With Quote
  #6 (permalink)  
Old September 9th, 2003, 10:50 AM
susancruzs
Guest
 
Posts: n/a
Default Re: Life-Changing Event

Yep, more money to cruise more often would do it for me!

Susie
Reply With Quote
  #7 (permalink)  
Old September 9th, 2003, 10:59 AM
AR
Guest
 
Posts: n/a
Default Re: Life-Changing Event

Wow! The beginnings of a consensus!

The first five responses believe that the “Cruise-of-the-Month” club would be life-changing. We just need to have our investments kick out enough cash to pull that off.

So here’s the reality:

We’ll assume that we’re talking about week-long cruises for two. Let’s say for argument’s sake that each of those cruises—without air—will cost $2000. So we need $24,000 a year to pull it off.

Your “Cruise Nut” (not to be confused with CruzNut) would have to be:

--A little under $500,000 if you assume a conservative 5% rate of return.

--About $350,000 if you think you can earn a somewhat more aggressive 7% over time.

--And a whopping $2.4 million at today’s “safe” money market rate of 1%. (proving once again that the only thing that’s safe about money markets is the knowledge that you won’t make any money)

Natch, this would have to be money that you don’t touch for any other purpose. Also, inflation is not factored in, and, of course, it really should be.

AR
Reply With Quote
  #8 (permalink)  
Old September 9th, 2003, 11:42 AM
Senior Member
Admiral
 
Join Date: Dec 2001
Location: My GPS says 12 ft. above 6 ft. under!
Posts: 7,269
Default Re: Life-Changing Event

I figure about $600,000 at 6% interest would do it, since Uncle Sam is going to get his hands on about 28% of the earnings.

Regards,
Thomas
Reply With Quote
  #9 (permalink)  
Old September 9th, 2003, 11:50 AM
AR
Guest
 
Posts: n/a
Default Re: Re: Life-Changing Event

Yeah, I didn't even want to bring up taxes.

AR
Reply With Quote
  #10 (permalink)  
Old September 9th, 2003, 11:51 AM
Senior Member
Admiral
 
Join Date: May 2002
Posts: 4,017
Default Re: Life-Changing Event

*sigh* How depressing this is!

Cheers,
Michelle B.

__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~
Now posting as MichelleP.
Reply With Quote
  #11 (permalink)  
Old September 9th, 2003, 01:09 PM
Senior Member
Admiral
 
Join Date: Apr 2003
Posts: 1,260
Send a message via MSN to belgique
Default Re: Life-Changing Event

I'd buy an apartment on the "World of Residensea", then just watch the world go by - forever!

Every now and again I'd invite some friends to pop in for a week or two, not too long as they might be jealous of my lifestyle and throw me overboard.

Counting the savings I have now, it would only take about another $15,000.000.00 to make it work.
Reply With Quote
  #12 (permalink)  
Old September 9th, 2003, 01:34 PM
Senior Member
Admiral
 
Join Date: Aug 2002
Posts: 3,988
Default Re: Life-Changing Event

I'm thinking twelve times a year would actually be too much. It wouldn't take very long before it would become routine and boring.
Twice a year works for me and all it takes is three graduations and three weddings.
That's the life changing event (events).
Compared to costs to maintain kids in college and grad school and to pay for three weddings, cruising is cheap.
Besides you don't really need the big nest egg, all you have to do is convince your spouse to keep working. I hope Gram is not reading this thread.
Reply With Quote
  #13 (permalink)  
Old September 9th, 2003, 01:49 PM
Member
Passenger
 
Join Date: May 2003
Posts: 98
Default Re: Life-Changing Event

This is my favorite thread so far!!!
Reply With Quote
  #14 (permalink)  
Old September 9th, 2003, 04:55 PM
Senior Member
Yeoman
 
Join Date: Oct 2000
Posts: 605
Default Re: Life-Changing Event

Leave the principle, take the interest and get as many cruises as I can out of it. Inside cabins and Caribbean cruises are fine with me. Although Tahiti is in my dreams.

I would add one thing.... a limosine and driver at my disposal to take me to the port and pick me up (now we are talking lotto winnings here).

Happy cruising to all.
Reply With Quote
  #15 (permalink)  
Old September 9th, 2003, 06:15 PM
CruzNut's Avatar
Senior Member
Admiral
 
Join Date: Mar 2001
Location: Tampa Bay area
Posts: 2,011
Default Re: Life-Changing Event

Your “Cruise Nut” (not to be confused with CruzNut) (thank you for clarifying that) would have to be:

--A little under $500,000 if you assume a conservative 5% rate of return.

Where are you getting 5%?

I like the ideas except I'd like a 10 day or longer cruise ... maybe every other month - even every third month ... definitely with a balcony and airfare.

__________________

I cruise the Emerald Princess, Eastern Caribbean on April 16, 2012
Reply With Quote
  #16 (permalink)  
Old September 9th, 2003, 08:43 PM
rollerdonna's Avatar
Moderator
Admiral
 
Join Date: Oct 2002
Location: Caribou River, Nova Scotia
Posts: 16,190
Default Re: Life-Changing Event

I'd like to win just enough to enable me to take all my family and a few friends on one really nice cruise, to share with them all the joy we've found in cruising. Then enough interest left over for the 2 of us to cruise maybe twice a year (you've got to live in reality, but it's nice to have something to look forward to!)

donna

__________________
Reply With Quote
  #17 (permalink)  
Old September 9th, 2003, 09:42 PM
AR
Guest
 
Posts: n/a
Default Re: Re: Life-Changing Event

CruzNut:

Not quite sure what you're asking. . .

--$500,000 is what you'd need to generate $24,000 a year (actually $25,000) at 5% without touching the principle. That's pretty straightforward.

--If you're asking what investment will kick out 5%, the answer is that most good ones will over time. It's no particular challenge for a long-term investor to do 5-8% or even more over time, and yes, I'm including the last three years. Many equity investments are up well over 20% so far this calendar year, making significant progress on the road back from the last three years. My perspective is from an investing career that's now approaching 40 years, and I can assure you that a 5% annualized return is a relatively modest goal, completely doable. Off the top of my head I can name you a half dozen mutual funds that have done better than a 10% average over the last 10 years, which of course includes the last three very difficult ones.

A long term perspective is appropriate for the current discussion, because we're talking (hypothetically, of course) about endowing a nestegg for the purpose of perpetual cruising.

I'm not trying to sound like one of those blowhards we all sometimes meet on ships, but seriously, if your investment advisor feels that 5% a year over time is an iffy proposition, I'd look for a new advisor.

AR
who is not and never has been an investment advisor
Reply With Quote
  #18 (permalink)  
Old September 9th, 2003, 10:24 PM
Senior Member
Admiral
 
Join Date: Dec 2001
Location: My GPS says 12 ft. above 6 ft. under!
Posts: 7,269
Default Re: Re: Re: Life-Changing Event

I agree AR, the DJIA is a healthy 11% per year over the last 30 years or so. Even a conservative mutual fund heavily invested in mortgages, CD's, and cash will return 6% during these difficult times (I love owning some of these) which is why I used the 6% number in the previous post. When all my other cash is going down the tubes, what's invested in the "safe" (if there is such a thing) is still hanging around for Mrs. Thomas to spend.

Regards,
Thomas
Reply With Quote
  #19 (permalink)  
Old September 11th, 2003, 06:28 PM
Senior Member
Yeoman
 
Join Date: Oct 2000
Posts: 605
Default Re: Life-Changing Event

You definately need a good reputable financial planner. Our's is making us 12.5%.

It may not stay that way, but I'm happy right now.

He's doing right by me.
Reply With Quote
Reply

Bookmarks

Tags
changinh, cruise, event, life

Similar Threads
Thread Thread Starter Forum Replies Last Post
traumatic event richstacy Chit - Chat for Cruisers 16 March 17th, 2006 03:12 PM
event planners? ELECTRA Ask CruiseMates Staff 0 February 16th, 2004 05:37 PM
White Tie event? Christy Cruise Dress / Packing 1 February 8th, 2003 06:21 PM
What is your favorite Olympic event? Mary Lou Chit - Chat for Cruisers 10 February 11th, 2002 01:32 PM
Captain's Gala Event? Angie Martin Princess Cruise Lines 3 November 19th, 2001 09:02 AM


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


 

All times are GMT -4. The time now is 03:12 PM.
design by: Themes by Design

Powered by vBulletin® Version 3.8.7 Beta 1
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO 3.6.1