Thanks for the laugh, Doug.

My boat is an INVESTMENT. Oh, wait. I don't have a boat.

 

Ha. That is a good one.

Tell us something we don't already know.

BTW: Same applies for the Seaside Vacation homes.

 

If those sea side vacation homes are in the hurricane strike zone they make as much sense as the boat.

 

Dollar wise I knew that when I purchased it. :huh: Now if one is very limited in their income and does not realize this then they are very foolish. I would never go in debt for a boat if my basic needs were not being met first.

So just what is one to do in their life? Save all your money, get old and crippled up and then proclaim, "I always wanted to do that!" Next drop dead and leave all to your heirs and the tax agency [Gov-Mint]

:thumbsup:

 

I don't care what the journalism major right out of junior college who writes that crap for Boating says, I'm keeping my boat and my beach house!

 

And, I'm doing both! I'm keeping my boat called Beach House

 

I DON'T HAVE TIME TO READ THAT STUDY.... GOTTA STOP FOR GAS IN MY TRUCK ON THE WAY TO THE BOAT, AND AT THE BEER STORE, AND AT THE DELI, AND AT THE BOAT SUPPLY STORE FOR SOME CLEANERS, WAXES, FLUIDS, DOCK LINES ETC., SHOOT OVER TO THE TACKLE STORE FOR SOME NEW LURES THAT WE LOST LAST WEEK, HURRY AND GET TO THE FUEL DOCK TO FILL 'ER UP, HANG THE NEW DECORATIONS THE ADMIRAL GOT FOR THE BOAT,

SOOO. THIS STUDY BISICALLY SAYS BOATING COST $$:huh:
I'M CONFUSED, I'LL HAVE TO READ THE STUDY....:lol::smt043:lol:

 

:lol:

I love "the onion"...they have some good spoofs in there. Good find Doug.

 

Hey, it's from the ONION. A spoof.

But, I disagree with the idea that waterfront property is as bad an investment as a boat. Boats are an expense. True.

Waterfront property most often is a moneymaker. As long as the water stays in front.

 

Brilliant write up...

 

I remember sitting in my pre-marriage class and the priest telling us that 2 of the 4 couples would be divorced after 10 years of marriage. I should of listened...my boat costs me less than my monthly payments to my ex...At least I get joy out of the boat and enjoy looking at the boat. I forgot, my dog wags its tail everytime it sees me....Boats are investments in quality of life only......My baby calls me know as I have to go put added lines on the boat and remove the canvas as the storm heads our way......

 

on the topic of money poorly spent - what about vacations? $3-7K spent for a week, maybe two of fun. talk about a waste! even with the shortest boating season, you can count on 8-10 weeks of fun. seems like a much more efficient way to burn that kinda coin!

summer homes are a great investment! a summer home with a dock behind it, where you boat sits is even better. no slip fees to gestapo marina owners, just property taxes (which are tax deductible). and if you are in a position to buy and hold a bit, you're SURE to turn a profit when it comes time to sell.

 

"Our study proved conclusively that boat-ownership is primarily an inconvenience and a monetary black hole," editor Roger Bernbaum said. "We found little to no reason to keep that thing sitting in a shed all winter just so you can tow it to the lake and pay outrageous docking fees three weekends a year.

Is this a joke or something? Maybe the magazine needs a new editor.

 

Well. . .you could be surprised about the economics of a vacation home.

If you are not *renting* the vacation home. . then the economics do not make it an automatic slam dunk compared to other investments.

If you are NOT renting it, then you are paying for non-trivial taxes and maintenance on an asset that is (1) not liquid and (2) subject to boom/bust cycles.

Taxes and mortgage on a second home are deductible. . . to a point. . . that point being when you hit AMT. If you have a second home, odds are higher than average you are paying AMT. Maintenenance is not deductible. Insurance is NOT standard cheap homeowners insurance, and is not deductible. Flood insurance ain't cheap. All the crap you buy (furnature, decorations, appliances) have a rate of return worse than that of a boat.

Compared to a BOAT, however, a vacation home is a *great* investment. It is also the only investment you can enjoy. A vacation home on the water also means you don't have to deal with Marina crap. Plus you can leverage the house (borrow money to invest in the house). . .

. . .all assuming that some stupid tropical storm doesn't come along and wash it away.

 

Did you read it?

I didn't bother.........it doesn't matter how the Boating author reached his conclusions or how accurate his calculations are......I'm keeting my boat and my beach house!

 

I thought we couldn't speak of anything but sea ray?

 

When my friend from the UK saw my boat,he said.

Any thing that floats... Fly's... or Fornicates he rents.

Three addictions solved!!
But he's English and divorced with 7 kids and worth over 20 million.

 

So, is he right or wrong?

 

Owning a boat not worth it - depends on how you define "it."

 

Smiles make it worth every penny.

:thumbsup:

 

Smiles make it worth every penny.

:thumbsup::thumbsup::thumbsup::thumbsup::thumbsup:

 

I know boats are a leasure toy. You can add RV/TRAILERS, MOTORCYCLES, JET SKIS, ATV'S, AND SNOMOBILES. You don't here about the people who have these TOYS AND HOW MUCH THEY COST.

BAMBAM
1974 SRV 193
GREAT BOAT!!!!!

 

That's 'cause they cost less than the house : )

 

Boating is FUN, MEMORABLE, PEACEFUL, ETC... thus...

the times I've spent on a boat have been...

PRICELESS!

 

Some of my favorite times are just like tonight's going to be. Leaving work at 10:30pm, and going straight to the boat for a drink, some music, and a great night's sleep at the dock - with the wife.

 

How about owning a plane? Same difference?

 

OK, one more. Read it today flying back from San Diego

"You cannot control how you die, but you CAN control how you live"

No more words needed.

 

"You cannot control how you die, but you CAN control how you live"

Although I could argue the dying part-I won't. The truth about owning a boat,for me anyways is: one day-my kids will be all grown up. The times that we have spent(and will spend) together on the boat are PRICELESS! The memories,the pictures,the feelings,no amount of money can buy that. So screw it. I own a hole in the water that I throw money into-wouldn't have it any other way.:smt001

 

Wait a minute... I bought the boat strictly as a monetary investment.... Now I'm screwed :smt021

 

On a serious note, we grew up with a Maine lake house that had belonged to my great grandparents. And while completely paid for somewhere in the 30's or 40's, my parents and my mother's siblings and cousins, insisted that every waking free moment was spent at this place. Which while beautiful, and where I began to learn to boat and fish, got very tedious at a young age. This is in part why I voted to sell to some yahoo who wanted to build a McMansion because there were too many cousins and too few days in the year.

It also explains why my wife and I made the effort to vacation in places like Tuscany and Provence. In part because my work took me to Europe, but also because we had never had the opportunity to vacation outside of New England growing up.

In light of what is clearly a very privileged childhood, and even more privileged adult life, I an say that the best bang for the buck has been the purchase of Bella. Will it work out economically? I doubt it. My only regret is not doing it sooner.

Henry