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Richard5 · 18-09-2013, 00:52

The down side is I still haven't gotten my next boat. Here it is with October just around the corner and I missed the mark I set last year. I had thought that by June I would commence outfitting.

The downside is it all hinges on cashing in on financial investments and it has become harder than I had thought. Too many players in the chains all were their hands in my pockets. I worked hard for what I have...real blood, sweat, and tears. I'll be damned if I freely surrender it to mealy mouthed soft skinned forked tongues. So Plan B is I wait for a more opportune time. Significant penalties and taxes await which I seek to allay.

The upside is the Dow Jones appears to sustain 15,000+.

How long shall I wait?

I know, it all sounds like 1st world problems. But I've been blue collar all my life (with a few short lived excursions into white shirt and tie) by choice and I take pride in that.

rebel heart · 18-09-2013, 03:50

Quote:

Originally Posted by Richard5

The down side is I still haven't gotten my next boat. Here it is with October just around the corner and I missed the mark I set last year. I had thought that by June I would commence outfitting.

The downside is it all hinges on cashing in on financial investments and it has become harder than I had thought. Too many players in the chains all were their hands in my pockets. I worked hard for what I have...real blood, sweat, and tears. I'll be damned if I freely surrender it to mealy mouthed soft skinned forked tongues. So Plan B is I wait for a more opportune time. Significant penalties and taxes await which I seek to allay.

The upside is the Dow Jones appears to sustain 15,000+.

How long shall I wait?

I know, it all sounds like 1st world problems. But I've been blue collar all my life (with a few short lived excursions into white shirt and tie) by choice and I take pride in that.

I think there's way too much volatility out there to bank on something like that. Not trying to be trite, but if you're counting on an upward market for a year or more... if only investing were that easy.

Richard5 · 18-09-2013, 04:43

Quote:

Originally Posted by rebel heart

I think there's way too much volatility out there to bank on something like that. Not trying to be trite, but if you're counting on an upward market for a year or more... if only investing were that easy.

Wholeheartedly I agree. But in waiting mode imposed by others I hope for the best. I'm in fierce hope for the best while I wait. I want to cash out and skedaddle. I am trying to minimize penalties and tax liability.

It's like navigating wash rocks all around. Here be dangers says the legend. The angry maul of ye blue holds nothing over the suits of Wall St and Congress..which are one and the same. I guess what me point is at least I'm not losing money...yet.

denverd0n · 18-09-2013, 05:30

Quote:

Originally Posted by Richard5

The down side is I still haven't gotten my next boat.

I hear ya. The best laid plans of mice and men, and all that. I've been thinking about my "next boat" for several years now, but life keeps getting in the way.

Quote:

The upside is the Dow Jones appears to sustain 15,000+.

For now. That could change in a matter of hours. Any money that you expect to need within the next 5 years or so should NOT be in the stock market. That's not "investing." That's gambling, pure and simple.

Frankly, I have absolutely no sympathy for the folks who, back in 2008 when the market tanked, were whining about how they had plans to retire in 2 or 3 years and now they would have to work for another 15, because all of their money was in stocks and it was all gone. Hey! That's how the stock market works! It goes up and down. Sometimes wildly, dramatically, and suddenly.

If you are planning to live on this money in the near future then you need to be moving substantial portions of it out of the stock market, and into less volatile investments.

Good luck to you.

letsgetsailing3 · 18-09-2013, 05:37

If your goal is to get a boat next year, stocks is the LAST place to have that money right now.

Stocks are a long-term investment, and if the market dips it could make your dream unattainable for years.

On the positive side, think of all the money you're saving by not having a boat. On the negative side, think of all the adventures that you're not currently having.

The general advice is to go smaller and go NOW.

Richard5 · 18-09-2013, 05:46

Quote:

Originally Posted by denverd0n

I hear ya. The best laid plans of mice and men, and all that. I've been thinking about my "next boat" for several years now, but life keeps getting in the way.

For now. That could change in a matter of hours. Any money that you expect to need within the next 5 years or so should NOT be in the stock market. That's not "investing." That's gambling, pure and simple.

Frankly, I have absolutely no sympathy for the folks who, back in 2008 when the market tanked, were whining about how they had plans to retire in 2 or 3 years and now they would have to work for another 15, because all of their money was in stocks and it was all gone. Hey! That's how the stock market works! It goes up and down. Sometimes wildly, dramatically, and suddenly.

If you are planning to live on this money in the near future then you need to be moving substantial portions of it out of the stock market, and into less volatile investments.

Good luck to you.

100% my man. It's more complex than what I'll reveal on the internet. It's more than simple stocks and bonds investment. No, oh hell no, I'm not talking of trusts.

Anyway, back to the boat. I still haven't found a boat which fulfills two criteria, A) I'm interested in; B) I can afford. The Spirit 55 would have me going wild yet it's far out of my price range. See what I mean?

I'm thinking back to my youth when I was satisfied with a Sharpie. Too, I love the Dark Harbor hull plus sail plan but would extend the LWL if I could without wrecking the design and remain within my budget. But I am looking for my home too and that complicates things. And...AND...now it's iffy if the gal I had would even play a part. Good riddance I say, who needs that crap. So perhaps it's now back to the mono I preferred rather than the cat we had looked for.

denverd0n · 18-09-2013, 06:36

Quote:

Originally Posted by Richard5

No, oh hell no, I'm not talking of trusts.

You think there's something wrong with trusts? There's not. If you understand what they do, and use them appropriately, they can be a very useful part of one's financial strategy.

Richard5 · 18-09-2013, 06:47

Quote:

Originally Posted by denverd0n

You think there's something wrong with trusts? There's not. If you understand what they do, and use them appropriately, they can be a very useful part of one's financial strategy.

Dangit, I am trying to log off....

No, I don't find anything wrong with trusts as a financial tool. I was trying to say I am certainly not a trust fund baby or some such. That's it, I'm no silver spoon in mouth little lord. Heavens to betsy no.

I've worked for every ha'penny.

ozskipper · 18-09-2013, 07:19

On your death bed, will you regret working that extra year, when you could have spent it sailing on a lesser boat than the dream requires?

OldFrog75 · 18-09-2013, 09:02

I'm not a CPA but I've heard a person can cash in a retirement account, buy a boat, and put it in a charter fleet with accelerated depreciation, expenses, etc., to offset taxes.

Don't know about early withdrawal penalties.

Richard5 · 18-09-2013, 10:21

Quote:

Originally Posted by ozskipper

On your death bed, will you regret working that extra year, when you could have spent it sailing on a lesser boat than the dream requires?

If by working you mean searching, scouring, interviewing for my next boat, you're right I am working. Oh, don't forget major projects at mom's home.

Otherwise, the money is hard at work for it's self.

I've already tasted those experiences so it's not like I would die never knowing if I passed away today. By my reckon, it is worth the bounty to hang in for another one year. Hopefully less than that. Hopefully much less.

Richard5 · 18-09-2013, 10:23

Quote:

Originally Posted by OldFrog75

I'm not a CPA but I've heard a person can cash in a retirement account, buy a boat, and put it in a charter fleet with accelerated depreciation, expenses, etc., to offset taxes.

Don't know about early withdrawal penalties.

That there is something I been wondering about. It aint necessarily about the boat in charter. It's putting me in charter. What are the prospects peeps would want to charter with Capt Ron? I mean, really!

rebel heart · 18-09-2013, 10:23

Do what you're gonna do man, but if you know about boats you know that one year means two or three, and a couple grand means five. It's hard enough to leave the dock when you've got a prepped boat and money in the bank.

Richard5 · 18-09-2013, 10:32

Quote:

Originally Posted by rebel heart

Do what you're gonna do man, but if you know about boats you know that one year means two or three, and a couple grand means five. It's hard enough to leave the dock when you've got a prepped boat and money in the bank.

LOL Ain't that the truth!

Anyway, my prob is I have too many options. I know what I want to do but I am as well comfortable doing the other thing and yet another thing. For years I thought maybe I missed the boat, that I'd be better off as a post-WWII rummie in the islands trying to run a scam. But I'm no Adios Jack, let's go I say, I've a purpose, a drive, whatever that means and in whatever direction.