They just don't understand.

Discussion in 'General Discussion' started by dvx216, Feb 12, 2020.

  1. dvx216

    dvx216 Well-Known Member SILVER Sponsor

    Feb 1, 2012
    Catawaba Island,Oh.
    2000 310 sundancer 5.7






















    n/a
    twin 5.7 300 Hp.
    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.
     
    Sublimetime, Ezsteps, JVM225 and 4 others like this.
  2. joeyleggz

    joeyleggz Active Member

    563
    Jan 15, 2013
    long island
    current boat: 1997 sea ray 330 express cruiser
    twin 454's efi
    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: Feb 12, 2020
    SCORPIO, Great Lakes, JVM225 and 2 others like this.
  3. spikedaddy99

    spikedaddy99 Well-Known Member GOLD Sponsor

    Jun 11, 2008
    Prentice, Wi
    2005 500 DB
    QSM-11
    Oh we understand BOAT. My CPA was floored by what I spend on it...until he got to spend time on it. Now he's shopping in the 30' range.
     
  4. techmitch

    techmitch Well-Known Member GOLD Sponsor

    May 1, 2008
    Chesapeake Bay, Middle River/Frog Mortar Creek MD.
    1999 270 DA
    Twin 4.3s W/Alpa I Gen II's
    Excellent! You infected him. Good job.
     
  5. lawndoctor

    lawndoctor Active Member GOLD Sponsor

    435
    Jun 5, 2008
    Chesapeake Bay & Philadelphia
    2009 330 Sundancer & 2002 225 Weekender
    8.1L V-Drives & Bravo III 5.0L
    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.
     
    firecadet613 likes this.
  6. yobub

    yobub Active Member PLATINUM Sponsor

    407
    Jul 29, 2016
    Chicago
    1998 400 Sundancer
    Cat 3116's
    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: Feb 12, 2020
  7. Chip S

    Chip S Member

    67
    Jun 17, 2019
    Bordentown, NJ
    1993 Sea Ray 200 Overnighter
    1993 Mercury 150 hp Black Max Outboard
    A friend of mine has a saying, "Boating, its almost worth it." :D
     
  8. dvx216

    dvx216 Well-Known Member SILVER Sponsor

    Feb 1, 2012
    Catawaba Island,Oh.
    2000 310 sundancer 5.7






















    n/a
    twin 5.7 300 Hp.
    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.
     
  9. Quint4

    Quint4 Well-Known Member TECHNICAL Contributor

    Oct 6, 2006
    S.W. Ohio
    330 Sport Bridge (Sold)
    5.7 MPI 350 Merc Bluewaters
    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?
     
  10. b_arrington

    b_arrington Well-Known Member GOLD Sponsor

    Feb 21, 2007
    Setauket, NY
    2018 Back Cove 34
    Cummins QSB 6.7 480
    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.
     
  11. RBB

    RBB Active Member

    144
    Dec 18, 2019
    Kentucky
    2004 390 MY
    2019 Sea Doo GTX 155
    8.1’s
    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.
     
  12. carterchapman

    carterchapman Well-Known Member TECHNICAL Contributor SILVER Sponsor

    Mar 25, 2008
    Lake Chickamauga/Marietta, GA/Ft. Myers, FL
    2006 Sea Ray 58 DB
    MAN CRM V8-900s, Twin Disc Drives; Onan 21.5 Generator
    As I've always said, "It's just good negative cash flow"!!
     
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  13. PlayDate

    PlayDate Well-Known Member

    Dec 25, 2006
    Washington DC
    1994 370 Express Cruiser
    454 Mercruisers
    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.
     
    JVM225 likes this.
  14. JVM225

    JVM225 Well-Known Member GOLD Sponsor

    Apr 8, 2008
    Farmingdale, NY
    2002 410 Sundancer, Monaco Edition.
    3126 Cats.
    Read somewhere this week that Disney raised ticket prices to over $200.00 per person for a single day pass.
     
  15. JVM225

    JVM225 Well-Known Member GOLD Sponsor

    Apr 8, 2008
    Farmingdale, NY
    2002 410 Sundancer, Monaco Edition.
    3126 Cats.
    After weighing the pros and cons I took mine when I turned 62 back in 2016. No regrets!
     
    PlayDate likes this.
  16. Blueone

    Blueone Well-Known Member GOLD Sponsor

    Jan 24, 2007
    Lake Erie, Ohio
    2004 420 Sundancer
    Cummins 6CTA 450's
    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
     
    Chip S, JVM225, JimT and 4 others like this.
  17. The Bill Collector

    The Bill Collector Well-Known Member GOLD Sponsor

    Jun 2, 2008
    Tacoma, WA
    450 Sundancer
    3126 Cat's
    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.
     
    JVM225 and PlayDate like this.
  18. El Capitan

    El Capitan Active Member

    539
    Jul 9, 2014
    Chicago IL./Vero Beach, Fl
    1970 SRV 180 w 2.5L Mercruiser.
    2000 Ford Expedition Eddie Bauer
    120HP Mercruiser
    ..,again, rich people problems...:D
     
  19. Ike

    Ike Active Member

    345
    Dec 17, 2011
    Pacific Northwest
    1972 Sea Ray SRV 190 I/O
    12 Ft Rowboat
    8 Foot Sailing Dinghy
    Mercruiser 165 6cyl inline GM 250
    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.
     
  20. Needs a buffing

    Needs a buffing New Member

    1
    Feb 15, 2020
    Seville 21 midcabin 1988
    4.3
    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.
     
    SloBurn likes this.

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