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View Poll Results: What percentage of your net worth does your boat represent?
0 - 25% 110 69.62%
25 - 50% 20 12.66%
50 - 75% 14 8.86%
75 - 100% 9 5.70%
100+% 5 3.16%
Voters: 158. You may not vote on this poll

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Old 07-05-2013, 19:39   #31
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Re: What percentage of your net worth does your boat represent?

My advice is to diversify your assets, going all-in on anything isn't a good idea, being a boat, car, house, gold, stocks, a business, all can go wrong. To lose everything isn't a good outcome, and paying insurance to protect yourself from it is also poor finance,
just like paying interest. That said,

If you don't have much to lose, losing it all isn't too much.
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Old 07-05-2013, 21:20   #32
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Re: What percentage of your net worth does your boat represent?

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Originally Posted by Teknav View Post
A boat, like an airplane, is a MONEY HOLE! How anybody is going to determine the percentage of "infinity", is beyond me. I'd say, it is not possible to calculate the value of a boat as an asset. The value of the boat continuously depreciates and never ever increases in value. Mauritz
i disagree. every boat i've ever owned i sold for at least what i paid for it. and none of them were 'upgraded' in order to increase their value. if anything i've 'downgraded' my boats by removing unnecessary crap.

operating expenses not included. but then, my house has operating expenses and with the current market it's worth less than i paid for it ten years ago. same with my car.

in spite of the high cost of living, it still remains very popular.
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Old 07-05-2013, 22:10   #33
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Whatever you say, champ.
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Old 07-05-2013, 22:27   #34
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Re: What percentage of your net worth does your boat represent?

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Originally Posted by SVNeko View Post
Calculate the value of the boat ignoring debt on it.
Calculate your net worth deducting all debt, including boat debt.
So, if you own a boat worth $50 and a house worth $100 but have debt of $75 (whether on the boat or not), your answer is 50 - 75% ($50 boat / $75 net worth = 66 2/3%).
I think the key fallacy in your calculation is that you include Debtů (Any Debt!)

By definition that takes away the freedom to enjoy your cruising asset and actually use it.

Those who are debt free and have cut the dock lines are the richest of all!
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Old 07-05-2013, 22:35   #35
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Re: What percentage of your net worth does your boat represent?

I make this post as a reply here and maybe to a wooden boat thread awhile back.
The last boat I sold was made of wood. I broke even on it, includes costs of a couple haul outs...
From hanging around the boat yard the big money pit tends to be the... if you have one that is.. inboard diesel...
Dont drop any on those and you're good.
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Old 07-05-2013, 22:59   #36
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Re: What percentage of your net worth does your boat represent?

The best investment i have ever made is my boat......

If some can't understand that then i can't explain it to them either....
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Old 08-05-2013, 04:28   #37
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Re: What percentage of your net worth does your boat represent?

yeah, all that 'boat=money thrown in the water' - I've never lost money on a boat, never spent much on them - compared to an old harley shovelhead i spent 10 years wrenching on, boats are bloody cheap. You can sure spend money on them if you want to but if you take a boat seriously as a machine for living and travel, it can be done for peanuts - admittedly i've been around boats all my life in a part of the world (nz/australia) where theres a strong tradition of self reliance and not everybody has those advantages. And i dont spend a lot of energy arguing against the 'boat/money down the drain' bs 'cos it keeps the decks clear for bargain hunters like me...
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Old 08-05-2013, 04:58   #38
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About 20%.

Memories and experiences 80%
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Old 08-05-2013, 05:13   #39
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Re: What percentage of your net worth does your boat represent?

Sounds like there are two camps.

Cash is king ... Value is in how many bucks you have

You can't take it with you .... Who find value in the experience of living

I admire the second but have been conditioned to the first

Then again, some would call then Red Pill vs Blue Pill.
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Old 08-05-2013, 05:28   #40
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Re: What percentage of your net worth does your boat represent?

materialistic vs realistic...lol...haves vs have nots--is same for centuries--those who have try to declare how to do something they feel they and only they deserve as they have the money to support it , yet they do not use that which they have....materialism is a cult. one you fall into the hole, you do not come back nicely.
those who have always have tried to control the activities of those who have not--has been this way thru the development of this planet and humanity.
those of us who choose to not have are rare. and we have a much better life without than many and mos t have who have lots of money and cannot smile ---
you have seen these folks--walking hunched over and grumpy in a beautiful place--they cannot smile--they brought their ghosties and gremlins and baggage with them and dont know how to live anymore.
i dont want to be like them--they make me wish they had stayed home so others can enjoy that which they frown on..lol

i have to laugh at those who have the audacity to declare that if one doesnt have money then one can not do something...rodlmao....is a pompous declaration with no meat behind the words.
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Old 08-05-2013, 06:56   #41
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Re: What percentage of your net worth does your boat represent?

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Originally Posted by JK n Smitty View Post
There are potential cruisers/sailors who get discouraged and don't buy boats because of statements like the one you made.
If that's all it takes to discourage them, it's probably for the best.
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Old 08-05-2013, 07:02   #42
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Re: What percentage of your net worth does your boat represent?

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Sounds like there are two camps.
Cash is king ... Value is in how many bucks you have.
You can't take it with you .... Who find value in the experience of living.
While those two may be the majority, there is a third. That would be the camp that I am in. I don't want to end up destitute so I am conscious of, and careful with, my money. But at the same time I realize that life is for living, and for enjoying, and dying with a big net worth doesn't win you any prizes.
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Old 08-05-2013, 07:03   #43
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My boat is about 1% to 2% of my net worth. However I am just starting out with this thing. When I retire in Ten years I hope to keep it under 30% even when I start cruising full time. That is the plan and we know how those go....
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Old 08-05-2013, 07:21   #44
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Re: What percentage of your net worth does your boat represent?

Many people plan to buy a boat for a trip...say a circumnavigation in 5 years. One choice is buying an older boat, putting a bunch money into it to get it ready and then selling it after the trip. Another choice is paying much more for a newer boat, putting less into it and selling it for a higher price after the trip. Assuming the cash is available buying the more expensive boat (and having it a higher percentage of your net worth) often turns out to be the cheaper total cost. And it's a whole lot more fun to not have to fix as many things along the way.
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Old 08-05-2013, 15:12   #45
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Quote:
Originally Posted by jim_thomsen View Post
Many people plan to buy a boat for a trip...say a circumnavigation in 5 years. One choice is buying an older boat, putting a bunch money into it to get it ready and then selling it after the trip. Another choice is paying much more for a newer boat, putting less into it and selling it for a higher price after the trip. Assuming the cash is available buying the more expensive boat (and having it a higher percentage of your net worth) often turns out to be the cheaper total cost. And it's a whole lot more fun to not have to fix as many things along the way.
IMO... unless your like me and buy just a hull and rebuild the boat new for half the cost of new, and sell as a new boat when your done. Older boats usually have stronger hulls...
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