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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 10-05-2013, 05:53   #91
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I'm not sure how we got here, or where this discussion is going, but in the house case, after razing you are left with a (presumably) valuable piece of land. Often the land is worth much more than the house.

This is not the case with a junked boat.
You can junk the house, but sad to say, YEAR AFTER YEAR FOR LIFE you will never own the LAND. TAXES. Our house had a land tax about 2700 a year, and association fee of about $600 a year, just so someone can tell me what color my house can be. I even know of a family that had to sell their home to the builders of a Walgreens. They used the Florida right to use land act. Hmmm. My boat even when it has no value and becomes worth less, no one can take it away from me. Heck, I can even paint it pink. Whistling....
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Old 10-05-2013, 06:02   #92
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So i am not nailed to the wall. Net worth and personal assets, IMPO have nothing to do with money or stuff. Its the equality of LIFE. To have all the money in the world and have no life = no life! To have no money and no life = no life! When a person starts living,enjoying, and making memories, you now have life! When we become older it wont matter the money in the bank, but the memories you have to share. Thats priceless... Whether on a boat or in a house! Cheers
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Old 10-05-2013, 06:20   #93
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Re: What percentage of your net worth does your boat represent?

I think some of you are getting the idea of the question and others are knee jerk reacting to a tough economic situation.

A boat often represents a life style, which is how my wife and I evaluate it as an "investment." True, it doesn't appreciate and is expensive to maintain, but since we have an older, well regarded boat, its value doesn't decrease really either. The manager of my marina claims you need to spend 10% of the boat's value annually for upkeep. Interesting statistic. I think he is considering having the yard to all the work, which isn't our style. It is interesting to consider. I don't think this counts dockage, haulage, and storage costs.

Regarding a house as a money pit: it shouldn't be if you've bought carefully. The real estate market has done very well for many people over a long time period. Of course, the market is challenging right now, but housing will continue to be a relatively low risk and low reward investment.

Our boatvalue:net worth is under 4%. We've been good savers/investors and are nearing retirement age. We also have a 30 year old boat. Most folks have a higher ratio I would suspect. This is an interesting number for those of us who like to "keep score." (most toys, etc....)

Finally, I would submit that having (other) assets is a good thing. I understand the sentiment about your boat being your only asset, no one tells you what to do, etc. Fine, but what happens when you want to retire from sailing? How do you live? Fund health care, retirement living, etc? Your life style will decline if you are living off Social Security and the proceeds from your boat.

Just my input.
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Old 10-05-2013, 06:27   #94
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Re: What percentage of your net worth does your boat represent?

Quote:
Originally Posted by senormechanico View Post
dow is at 15,000. Everything's great! Right? And the dollar is worth in gold what you paid for them instead of demanding gold instead? LOLOL. Gold vs dollar chart just for the last ten years:

http://1.bp.blogspot.com/-JdyDWlsq5m...llar+Chart.PNG
.
A good point, no good valuing a boat or a house in US Dollars because the currency is loosing value or purchasing power each year, thanks to a US President in 1971 who had some phone calls recorded. Might be better to value them in barrels of oil, loaves of bread or even mid west farm land, anything that is a useful asset. Indeed buying a yacht with good Dollars today to repay with bad Dollars tomorrow could be a great investment. Forget buying Tulips in Amsterdam, buy boats

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Old 10-05-2013, 06:39   #95
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Re: What percentage of your net worth does your boat represent?

IF the boat is also your home, I can see having a greater percentage of your net worth in a boat. My boat is purely a recreational toy; as such it represents <1% of my net worth. That said, it is fairly easy for me as I've had the boat since I had it built in '86 and its book value has long ago been exceeded by the maintenance and slippage. Now if we have a poll that compares one's net worth to the annual cost to KEEP the boat............
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Old 10-05-2013, 07:28   #96
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Re: What percentage of your net worth does your boat represent?

Quote:
Originally Posted by Pete7 View Post
A good point, no good valuing a boat or a house in US Dollars because the currency is loosing value or purchasing power each year, thanks to a US President in 1971 who had some phone calls recorded. Might be better to value them in barrels of oil, loaves of bread or even mid west farm land, anything that is a useful asset. Indeed buying a yacht with good Dollars today to repay with bad Dollars tomorrow could be a great investment. Forget buying Tulips in Amsterdam, buy boats

Pete


Yup. Just because you've got "value" in dollars is no guarantee your gonna keep it. I prefer holding real estate or a boat to stock "investments". He'll, a few years ago our broker told us to buy gold. He's convinced we are in for another slam.

Fixing the boat now so it's good for some years hence. That's an investment!
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Old 10-05-2013, 09:03   #97
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Re: What percentage of your net worth does your boat represent?

I may be the only one here who things her standard of living will rise when I can collect social security. When your a $500-$600 a month cruiser having SS kick in $1600 a month is a windfall.

I really don't think in assets, deprecation or net worth. I have everything I need to be happy. A boat, a boat cat, food on the table, wind for the sails and solar to keep the lights on. Life is pretty good!
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Old 10-05-2013, 09:57   #98
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Re: What percentage of your net worth does your boat represent?

Quote:
Originally Posted by Dale Hedtke View Post
I think some of you are getting the idea of the question and others are knee jerk reacting to a tough economic situation.

A boat often represents a life style, which is how my wife and I evaluate it as an "investment." True, it doesn't appreciate and is expensive to maintain, but since we have an older, well regarded boat, its value doesn't decrease really either. The manager of my marina claims you need to spend 10% of the boat's value annually for upkeep. Interesting statistic. I think he is considering having the yard to all the work, which isn't our style. It is interesting to consider. I don't think this counts dockage, haulage, and storage costs.

Regarding a house as a money pit: it shouldn't be if you've bought carefully. The real estate market has done very well for many people over a long time period. Of course, the market is challenging right now, but housing will continue to be a relatively low risk and low reward investment.

Our boatvalue:net worth is under 4%. We've been good savers/investors and are nearing retirement age. We also have a 30 year old boat. Most folks have a higher ratio I would suspect. This is an interesting number for those of us who like to "keep score." (most toys, etc....)

Finally, I would submit that having (other) assets is a good thing. I understand the sentiment about your boat being your only asset, no one tells you what to do, etc. Fine, but what happens when you want to retire from sailing? How do you live? Fund health care, retirement living, etc? Your life style will decline if you are living off Social Security and the proceeds from your boat.

Just my input.
I could not have said it better myself. My boat is almost 40 years old. I own a home and property which is paid off and will retire in a few years, although I'm taking off this year for a sabbatical.
Like you, there is a reality of how long I can or want to be on a boat. When I'm in my 70's, I know I will have different needs. There are many trade offs for the so called freedom of boat life. It comes down to enjoying a lifestyle. certainly if I wanted a cheap way to travel to exotic places, I would fly and tote a backpack which I have done often.
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Old 10-05-2013, 13:02   #99
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Re: What percentage of your net worth does your boat represent?

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Originally Posted by Seaworthy Lass View Post
And regardless of your means, the trick is knowing when you have "enough".


That applies equally to boats and money.

I own a 45 year old boat that is sufficient for our current mission. When our mission changes we will up or downsize accordingly.
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Old 10-05-2013, 13:36   #100
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Re: What percentage of your net worth does your boat represent?

a boat is just a boat!

it is up to you to decide what to do with it!
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Old 10-05-2013, 14:56   #101
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Re: What percentage of your net worth does your boat represent?

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Originally Posted by Group9
A boat is freedom. I don't know how you put a price on that.


Quote:
Originally Posted by Bash View Post
Spoken like a man who doesn't face a whole lot of brightwork this spring.

Speaking of brightwork......my boat neighbor has a beautiful trawler. he is an elderly man and uses his boat quite a bit. Anyway, he just painted his beautiful teak window frames in white paint. It seems almost unholy at first, but I can certainly understand his reasoning. Just thought I would throw this in.
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Old 10-05-2013, 15:08   #102
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Re: What percentage of your net worth does your boat represent?

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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'm sorry, as the owner of both, I do find that there is a difference and must respectfully disagree. My wife made this observation several years ago when someone made the same comparison at our airport. To quote my wife, "A boat is hole in the water that you throw money into, while an airplane sucks the money out of your wallet as soon as the propeller starts turning".
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Old 10-05-2013, 15:27   #103
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I think its about 5% for me now. I've always bought a boat about as old and cheap as they get, so the price can't go down much any more. 5 more years on a 197x doesn't mean much. As long as you keep it up generally it seems like you can sell it for what you bought it for
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Old 10-05-2013, 16:53   #104
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Re: What percentage of your net worth does your boat represent?

Hey Bill! They are called "turbo fans"...(turbo...faster in taking your money out of your wallet) Mauritz
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Old 10-05-2013, 18:02   #105
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Re: What percentage of your net worth does your boat represent?

We do not consider our boat to be an asset when calculating our net worth - our financial planners deliberately left it out, even though it surveys well into six figures. We do, however, assume that maintenance will cost us about 10% of the boat's value annually and that does not include insurance, fuel, berths or taxes.

Since we are still considered residents of the County of San Diego, our boat is taxed at 1% of its value annually, even though the boat hasn't been there for almost three years.

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