I do not go with the 10% rule
either, as I can't see it making sense.
I buy a new boat for 300K, it costs 30K a yr?
I buy an old boat for 30K, it only costs 3K per year?
Substitute a house, car , airplane or anything just about for boat and it doesn't make sense, I don't think it does for a boat either, although maybe on AVERAGE people spend 10% for an average boat I don't know.
I'm in the it cost either what you have or are willing to put into the thing. I have spent and will spend a lot more than 10% for at least another year, then hope the excess spending will buy a couple years of lower than average spending.
I have put a lot of Luxuries, not needed, but nice to have things in ours as I am having to work longer than I wanted to or needed to, so I guess I splurge some, and I think these things will help keep the better half happier, and I know if she is not happy, well you know the rest.
thing is, it's easy for me to show you what an airplane will cost you per year as engine
life is known as is overhaul
, hangar etc are fixed.
But a boat isn't nearly as easy to determine costs long term.
A blown engine
, blister job, lost
rig, will throw the averages out of wack for a long time.