Benchmarks

My purpose in writing this second blog entry is to create a list of benchmarks to meet that would help us determine whether we were indeed ready for this type of adventure and, if so, what it was going to take to get there.

Before I do that, though, I have to note just how frustrating work has been this week. I don't want to read too much into the problems I had this week in association with our recent decision to try to become a sailing family, but I have to say that this week I definitely could see myself saying "good-bye" to the corporate world forever. I like getting a paycheck every other week, but I'm starting to ask myself, "What is the point?" More about that later, I'm sure. Since we are looking at a 3-5 year plan, I'll have plenty of opportunities to lament our economic slavery.

The first thing I told Joe we had to do is pay off all our debt. This is no small feat. We have been working diligently to cut into our debt for several years now, but it is a slow process. I hate slow processes. I want things now. But, getting out of debt takes time, so we have been whittling away at ours for a few years now.

We have our debt down to a handful of accounts these days, but those accounts are, ahem, large. Or at least larger than I would like. More frustrating is our low credit score. We have worked hard to pay bills on time, but sometimes the money just isn't there, and bills are paid late. Of course, this ruins your credit. My goal ultimately is to NEVER use credit again, or at least only for large things (house and real estate!).

Benchmark Number One: Pay off all debt. I absolutely, positively consider this a must. I am NOT sailing around the world with debts hanging over my head. I want to be free and clear, having only to work to maintain a boat and provide us with living expenses.

Benchmark Number Two: Build up savings. After all debt is paid off, we will start using that extra income to build up enough savings to pay cash for a boat and have a cushion in case my online work hits a dry spell.

Benchmark Number Three: Get all three kids out of high school and into college or travelling with us. I won't leave solid ground until all the kids are done with high school and are pursuing their own lives. Our youngest won't graduate until 2015, so realistically the earliest departure date is the summer of 2015.

Benchmark Number Four: Sell house, cars, and all unnecessary worldly possessions. There are a few things in our house that I insist on keeping (our bed for one), but I'm not attached to anything so much that it couldn't be replaced later, once we decide to become landlocked again.

Benchmark Number Five: Find the right boat. Not too small, not too big. Just right. The Goldilocks Boat. Cost is important here too...I don't want to get back into debt (see number one!).

Benchmark Number Six: Cross the T's and dot the I's. Joe is an excellent researcher, and I know that he already has a long list of things to do before we set sail, including what type of boat we need, what types of things to take along, etc. etc. He's really good at that type of detail.

I know that we'll think of other things along the way, but for me these are the big picture items that need to be considered. Somewhere in that mess is my devoting some time to writing a book so that we can take care of everything on that list with one blow.

Benchmarks help us to know whether we are on track and whether we are all on the same page with this endeavor. Debt and the children are the most important considerations for me right now. If we can create a plan that addresses those considerations, then we could definitely be in business!