They just don't understand.

dvx216

Well-Known Member
SILVER Sponsor
Feb 1, 2012
2,692
Catawaba Island/Orrville,Oh.
Boat Info
340 Sundancer 2001
Engines
8.1s 370 v drv.
Been putting it off for quite a while so a made an appointment to see my financial guy. The subject of what I was doing came up and I told him I was working in the private sector now. The one thing he has always reminds me that now that I'm working in the private sector that I my never get back the money I'm paying into Social Security so I remind him he might not either. Then the boat comes up and you can just tell he doesn't understand why someone owns a boat but i don't fish. He ask yearly cost and the look of confusion comes over his face. The guy must of thought I owned a small boat or something. Then he finally asked how big was the boat and because he knows nothing about boats he thought it was huge his response whoa that's big. I told him for Lake Erie it was an average size. My finances are in order my finance guy still doesn't understand owning a boat but that's okay neither does most the people I know. This is another reason this place is so great because everyone here understands.
 
Been putting it off for quite a while so a made an appointment to see my financial guy. The subject of what I was doing came up and I told him I was working in the private sector now. The one thing he has always reminds me that now that I'm working in the private sector that I my never get back the money I'm paying into Social Security so I remind him he might not either. Then the boat comes up and you can just tell he doesn't understand why someone owns a boat but i don't fish. He ask yearly cost and the look of confusion comes over his face. The guy must of thought I owned a small boat or something. Then he finally asked how big was the boat and because he knows nothing about boats he thought it was huge his response whoa that's big. I told him for Lake Erie it was an average size. My finances are in order my finance guy still doesn't understand owning a boat but that's okay neither does most the people I know. This is another reason this place is so great because everyone here understands.
Exactly yet it’s perfectly normal for a family of four or five to drop $10,000 for a week at “Wally world” go figure....
 
Last edited:
Our financial planner is a boat owner. I wouldn’t want a non-boat-owning planner discussing our finances with my wife. He’s excited that we’re looking for a bigger boat and he thinks it’s a great idea.
 
If your financial planner doesn't understand your lifestyle, it may be time to find a new financial planner.

How can this person help you think about and plan for the future if they dont understand what is important to you, and why it is important? Your planner needs to understand and think in your terms, not judge you by their own choices and priorities.

For the record, my financial planner is a partnerin a boat that is our size but newer. He totally understands what our goals are and why. He can calculate and explain the financial ramifications of things like a decision to retire early, which my wife is pushing me to do, and would understand why I might want to do that.

Find somebody new, there are plenty of them out there.
 
Last edited:
A friend of mine has a saying, "Boating, its almost worth it." :D
 
I don't want anyone to get the wrong idea about the guy he's like most people he's not a boater. He never said anything negative . After telling him what it is to own a in the water boat and how we are there every weekend and the longer trips he started to see why.
 
I’m currently shopping for a 420 AC or similar. It will be a stretch and makes no financial sense whatsoever. One of my best friends has liver cancer at 58. Much more to these decisions than money. Don’t get me wrong, I’m not mortgaging my house to buy the boat...lol. But life is really just a journey....right?
 
In addition to giving really sound advice, the best thing about my financial advisors is they are both boaters and totally get it.

One owns a big sail boat and races to front Newport to Bermuda every year, and crews other boats. The other also has a sailboat and just upgraded to a bigger one. They lived on it for a while while their house was being renovated.

When we were shopping for our Back Cove they helped us get into a position to get it without being irresponsible. To them it wasn’t silly or frivolous; it’s a lifestyle they fully appreciate.
 
My financial guy is a boat owner also. He’s had a 30 foot plus boat for years. He went with Me on board to bring ours home. Great guy.
 
The one thing he has always reminds me that now that I'm working in the private sector that I my never get back the money I'm paying into Social Security so I remind him he might not either.

I'm not sure why a Financial Planner would ever say something like this. It is a binary issue.....either you will or you won't. If he is referring to leaving your family money if you die...... no one inherits your social security. I guess it is a joke of some sort.
 
Exactly yet it’s perfectly normal for a family of four or five to drop $10,000 for a week at “Wally world” go figure....

Read somewhere this week that Disney raised ticket prices to over $200.00 per person for a single day pass.
 
I'm not sure why a Financial Planner would ever say something like this. It is a binary issue.....either you will or you won't. If he is referring to leaving your family money if you die...... no one inherits your social security. I guess it is a joke of some sort.

After weighing the pros and cons I took mine when I turned 62 back in 2016. No regrets!
 
My accountant/Financial planner just passed away recently ...1 year from retirement, he had his successor in the firm and was training him... Plan for the future...but live for today....and put more effort into today
 
I have a friend from the yacht club that had a Bayliner 32' and wanted a Tolly 45' and talked about it with me at great lengths... He was a CFO of a hospital, he kept telling me he was running the numbers, I told him to through his pencil away because it would never pencil out... He bought the Tolly shortly thereafter.
 
Don't even worry about what other people think about your lifestyle. I have lost count of the number of people who, when I tell them I live in a motorhome, say "why?" "Why don't you just buy a house like everyone else?" I don't even tell people anymore unless the subject comes up. It's your lifestyle and it's good for you so just ignore those who don't understand. They probably have their own interests that others find strange.
 
If it makes you happy no one else matters. Been on the water for thirty plus years and currently own the oldest boat of the three I have owned in those years I couldn’t be happier Used the name needs a buffing as a name I came by proudly. Most people on the water are great but there are always those who are there as status symbol. There never get it as the guy who told me one day my boat needed a buffing. As I proudly said all in its own time. Unknown to him I had just pulled motor to replace all seals and hoses found small amount of rot in lower transom had it redone too. Had motor gone threw also. Believe looks are the last thing you worry about. The icing on the cake was when coming back into dock he waved me down he was dead in the water had to tow him in. Best to spend the meaning of BOAT were it matters.
 

Forum statistics

Threads
112,943
Messages
1,422,709
Members
60,927
Latest member
Jaguar65
Back
Top