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Old 08-04-2018, 08:35   #46
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Re: Owner Financed Catamaran? - And some advice

I don't know the OP, but in general I would expect someone who earns $250.000 to have a house and cars and habits to match, to spend approximately $251.000 of that money, and to be stressed about paying bills. It is the same at every income level, pretty much...
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Old 08-04-2018, 16:15   #47
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Re: Owner Financed Catamaran? - And some advice

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Originally Posted by valhalla360 View Post
If he's making $250k/yr and can't save $100k/yr, he needs to take a basic budgeting class. This should be easy. If he was putting away $200k/yr out of $250k/yr I would be impressed.

So still waiting on the funny part?
I think the previous poster has summed it up nicely!

I'm going to guess that you either don't have kids or had them a long time ago and have lost track of how much day care, after school care and schools cost, particularly private schools, home loans and other essentials. My in-laws live on around $28k and can save money as they are out country. I live in the city on a hell of a lot more than that and it is almost impossible to save with a rent or mortgage.

You have to assume the $250k is gross, otherwise the OP would have saved more by now.

It's funny... because it will never happen.

Ever seen this headline before?

"Couple saves $150k in one year and buys a catamaran and sails around the world."

Lol, no, and you never will! That's why it's funny.
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Old 08-04-2018, 17:18   #48
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Re: Owner Financed Catamaran? - And some advice

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I know he will still owe the money.. thats my point.

I just remember some folks I knew in the Med who sold up in the UK and invested 90% into a boat.. 6mths in during a storm two planks broke loose at the bow.. the boat went down in a couple of minutes..

They lost everything including their sociable parrot and the dog.. last I heard they were trying to get a new start back in the UK living in a small rented studio.. not easy at 60 and 58yrs of age.

Dreams can turn to nightmares all to easy.. a fact dreamers dont get.

Ummm, insurance?
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Old 08-04-2018, 18:42   #49
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Re: Owner Financed Catamaran? - And some advice

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Originally Posted by ausaviator View Post
I think the previous poster has summed it up nicely!

I'm going to guess that you either don't have kids or had them a long time ago and have lost track of how much day care, after school care and schools cost, particularly private schools, home loans and other essentials. My in-laws live on around $28k and can save money as they are out country. I live in the city on a hell of a lot more than that and it is almost impossible to save with a rent or mortgage.

You have to assume the $250k is gross, otherwise the OP would have saved more by now.

It's funny... because it will never happen.

Ever seen this headline before?

"Couple saves $150k in one year and buys a catamaran and sails around the world."

Lol, no, and you never will! That's why it's funny.

That's yours and the ops take obviously and I observe the same with others I know on relatively high wages who cry poor and can't save.
Funnily enough one that I know is a guy who is a financial advisor who tries to get us to see him.


Other side of the coin is I know just over 40s who earn about what the op does but they live like they earn half of it and smash debt and buy income with the rest.
They have kids, have paid off a modest home drive a good but not new car and are living comfortably.
I wonder how they manage?
I'm guessing their list of essentials are "actual" essentials vs others wants.
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Old 08-04-2018, 23:43   #50
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Re: Owner Financed Catamaran? - And some advice

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That's yours and the ops take obviously and I observe the same with others I know on relatively high wages who cry poor and can't save.
Funnily enough one that I know is a guy who is a financial advisor who tries to get us to see him.

Other side of the coin is I know just over 40s who earn about what the op does but they live like they earn half of it and smash debt and buy income with the rest.
They have kids, have paid off a modest home drive a good but not new car and are living comfortably.
I wonder how they manage?
I'm guessing their list of essentials are "actual" essentials vs others wants.
Yeah, we don't make anywhere close to $250k (not even half that) but we wanted to save up $100k for something few years back and did it in 2yrs without really sacrificing much at all.

All the blather about daycare and private schools goes out the window if they are moving the family onto a boat...so cut the expenses NOW and start saving money to make the dream happen.

What's the old saying about insanity...doing the same thing over and over but expecting a different result.

If the OP gave us a halfway honest view of his situation, there is no reason he shouldn't be able to put away enough to pay cash for a decent used boat within a year. He may or may not be willing to do what it takes but it's very much a reasonable goal while still living a very nice lifestyle. In the end it will cost him more and make the dream less likely to happen if he goes into debt to make it happen.
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