i'm spending so much money it hurts

[minaret]

Originally Posted by Rocketman

I would say that since you have a 500k boat, you are in the 1% crowd. In fact I would say you are probably in the .001% crowd. Be proud of it, this is nothing to be ashamed of.

Definitely not! We are just average folks who have worked really hard and saved carefully to fulfill our dream, same as most people who buy a house. Like I said, the average house here costs about what we have in our boat. We drive plain cars, nothing too fancy, I have a pretty low end motorcycle, etc. etc. Not trying to say we're poor, but by local standards we are FAR from rich. Just work hard to make it happen. Your response is the one we get all the time which always surprises me a bit. The same people who own a half million dollar house think we are loaded because we own a half million dollar boat. They just can't see that that's ALL we own. It doesn't compute for them..

[zeehag]

ok i win.
i have a 10,000 boat that sails seas and oceans--and i know how to get repairs done well and for much less than reported. lovin it...still paying off bills, and shoring up items bought in states of dis- or mis-function......engines, repairs, etc...slowly but surely, poco a poco--but i am out here doing and fixing for less.....
i never had a house--couldnt afford that. i gave away a lot of money when i made same---and this life rocks--have a ball--things come to you that are necessary and at the pricing you need to pay. life is an adventure meant to be LIVED..LOL...even if it costs a lil money.

[Rocketman]

Originally Posted by minaret

Definitely not! We are just average folks who have worked really hard and saved carefully to fulfill our dream, same as most people who buy a house. Like I said, the average house here costs about what we have in our boat. We drive plain cars, nothing too fancy, I have a pretty low end motorcycle, etc. etc. Not trying to say we're poor, but by local standards we are FAR from rich. Just work hard to make it happen. Your response is the one we gat all the time which always surprises me a bit. The same people who own a half million dollar house think we are loaded because we own a half million dollar boat. They just can't see that that's ALL we own. It doesn't compute for them..

I ment no disrespect, but if you take the number of people in the world that own 500K value boats and divide that number in the the number of people in the world, the percent would be very, very small.

[Mike OReilly]

Originally Posted by minaret

Definitely not! We are just average folks who have worked really hard and saved carefully to fulfill our dream, same as most people who buy a house. Like I said, the average house here costs about what we have in our boat. We drive plain cars, nothing too fancy, I have a pretty low end motorcycle, etc. etc. Not trying to say we're poor, but by local standards we are FAR from rich. Just work hard to make it happen. Your response is the one we get all the time which always surprises me a bit. The same people who own a half million dollar house think we are loaded because we own a half million dollar boat. They just can't see that that's ALL we own. It doesn't compute for them..

Well minaret, as me ol' dad used to say; If I had your money, I'd throw mine away.

[minaret]

Originally Posted by Rocketman

I ment no disrespect, but if you take the number of people in the world that own 500K value boats and divide that number in the the number of people in the world, the percent would be very, very small.

Oh, no offense taken. I agree, that would be a fraction of a percent. I just end up slightly puzzled about the whole thing, it seems to me that people will assume when they see your boat that you own a house as well, because to them that's just what people do. Just because a fraction of a percent of people own boats in that range doesn't mean you have to be in the top financial fraction of a percent to own one. And then there are people like the guy on this thread who think anything more than a 1k boat is waste. Obviously he doesn't have a family. Wait till he gets hitched up to a lady and has kids, then we'll see where he REALLY stands on this stuff. When it's not just you anymore, and you are risking the lives of your wife and kids as well as your own, suddenly all those safety gadgets and gizmos that you previously thought unnecessary start to look pretty appealing. So does a bigger boat, and lot's of other things you never even considered when you were single as well...

[minaret]

Originally Posted by Mike OReilly

Well minaret, as me ol' dad used to say; If I had your money, I'd throw mine away.

LOL! As usual, I should have kept my mouth shut...

[Rocketman]

The world is a strange place for sure, but things have a way of working themselves out. The chances of the guy with a 1000 dollar boat having a wife and kids, is also a very small percent. We don't all have to agree on everything to all get along.

[avb3]

Originally Posted by chucklet321

This may sound a little dumb but what if you were to temporarily charter your boat if you had a crew it would bring in around 5 to 10k a week if you were booked up, that's great money.

BTW it'll be alright and workout, just make a fund for it like a retirement fund and you'll have the money soon enough

So is this the voice of expierence or is this something you read about somewhere? We would be very interested from where your cashflow projections for this type of boat comes from, why there is a 100% variance in your assumptions, and on what expierence you believe they are valid in the market the boat is in.

[engele]

Jamestown distributors has stainless 1x19 for $1.58/f. They also sell Yale Spectra cored line 7/16" (which if it were pure spectra would be 16000lbs breaking strength) for $2.84/f (and it isn't. The next size up is 3.47/f).

The spectra degrades and doesn't handle chafe, but is substantially less weight aloft. It's a good fit on a high performance race boat, but anywhere where lines can cross (jib sheet rubbing on the shrouds for example), spectra needs to be replaced.

I get what you are trying to say, but I think you are making a poor point. RH needs understanding and support from those of us who have been in his shoes, not to be told he is greedy because he chooses to outfit his boat in a way that makes him feel good about traveling with his child.

[Hudson Force]

Originally Posted by zeehag

ok i win.
i have a 10,000 boat that sails seas and oceans--and i know how to get repairs done well and for much less than reported. lovin it...still paying off bills, and shoring up items bought in states of dis- or mis-function......engines, repairs, etc...slowly but surely, poco a poco--but i am out here doing and fixing for less.....
i never had a house--couldnt afford that. i gave away a lot of money when i made same---and this life rocks--have a ball--things come to you that are necessary and at the pricing you need to pay. life is an adventure meant to be LIVED..LOL...even if it costs a lil money.

I guess I'm on the "Zeehag Plan"! We also never had a house and we're spending little money on upkeep and repairs. We do it ourselves or send out a part for repair. Over more than forty years I've had a paid professional aboard my boat three times and only two of the three were worthwhile.

[Coops]

Originally Posted by avb3

So is this the voice of expierence or is this something you read about somewhere? We would be very interested from where your cashflow projections for this type of boat comes from, why there is a 100% variance in your assumptions, and on what expierence you believe they are valid in the market the boat is in.

I think his first six words were the only ones to make any sense in his post. He would not have time to charter HIS boat anyway, doing a non stop unassisted double RTW once he leaves school.

Coops.

[Ex-Calif]

Originally Posted by Rocketman

I ment no disrespect, but if you take the number of people in the world that own 500K value boats and divide that number in the the number of people in the world, the percent would be very, very small.

This is a misrepresentation of the classic definition of the 1%.

The classic definition is net worth percentile or annual income percentile.

I may have a $10,000 watch and live under a bridge. That doesn't make me a 1%er because you divided the number of people with 10k watches by the population.

You may be getting the >1% of 500k boat owners but that is misleading.

[Snkr]

Here's what I'm doing, I bought my 40' ketch rigged vessel for $19,000.00 cdn
The rigging is galvanized wire rope coated in coal oil the rigging has been on there since 1980 with no sign of degradation, Sitka masts and booms still solid Isuzu 45 hp diesel with only 1600 hrs.
So I'm still working every day and every payday I buy what I need for the boat and stick money away as well, every year on my vacation I go sailing and update my boat that way when I'm ready to cut the lines and cruise full time me and my boat will be ready.
Just my two cents on how I'm going about it.

[Tingum]

Don't give up, do not despair. Once you get away and in a beautiful warm anchorage it will all come together!!!!

[avb3]

Originally Posted by Coops

I think his first six words were the only ones to make any sense in his post. He would not have time to charter HIS boat anyway, doing a non stop unassisted double RTW once he leaves school.

Coops.

I am waiting with abated breath to see the level of understanding our purveyor of advice and wisdom is going to provide us with.