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19-07-2018, 12:31
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#1
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Registered User
Join Date: Nov 2016
Location: SoCal
Boat: In Between Vessels
Posts: 10
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What Would You Do W/ $700K
Change of pace, mates. No caveats, no conditions...if you were given $700K US, what would be your 5 year game plan...crapping your pants excluded.
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19-07-2018, 12:38
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#2
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S/V rubber ducky
Join Date: Jul 2007
Location: heading "south"
Boat: Hunter 410
Posts: 20,362
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Re: What Would You Do W/ $700K
Wine and women
__________________
Don't ask a bunch of unknown forum people if it is OK to do something on YOUR boat. It is your boat, do what you want!
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19-07-2018, 12:42
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#3
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Registered User
Join Date: Nov 2016
Location: SoCal
Boat: In Between Vessels
Posts: 10
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Re: What Would You Do W/ $700K
Quote:
Originally Posted by sailorboy1
Wine and women
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LOL. There is a poster on here with the greatest tag line, can't remember their name: I spent most of my money on Booze, Broads and Gambling...the rest I wasted." Or something to that sort. Awesome.
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19-07-2018, 12:53
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#4
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Registered User
Join Date: Jun 2008
Location: Tampa, FL
Posts: 5,009
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Re: What Would You Do W/ $700K
The thing is, in today's world, $700k isn't nearly what it once was. Excepting some small splurge with a little bit of it, I would put it into savings and otherwise continue with the exact same game plan that I have now.
I know. Call my boring. That's okay with me, as I am very happy with my life.
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19-07-2018, 13:08
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#5
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Registered User
Join Date: Sep 2016
Posts: 503
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Re: What Would You Do W/ $700K
Agreed, $700k wouldn't get you a superyacht, but in the used market you can haggle an expedition motor yacht or trawler with sophisticated system.
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19-07-2018, 13:16
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#6
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S/V rubber ducky
Join Date: Jul 2007
Location: heading "south"
Boat: Hunter 410
Posts: 20,362
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Re: What Would You Do W/ $700K
Quote:
Originally Posted by rjinhb
Change of pace, mates. No caveats, no conditions...if you were given $700K US, what would be your 5 year game plan...crapping your pants excluded.
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If it’s only boating type answer and can spend it all in the 5 years:
I would get good condition well fit out 10 year production 42-46’ boat for $100-150k and go live the high on the remaining $9k/mo!!! And if the boat needs to be moved somewhere where the trip is going to be crappy I would get Boatie to move it and wait on the beach with a drink till he got there.
__________________
Don't ask a bunch of unknown forum people if it is OK to do something on YOUR boat. It is your boat, do what you want!
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19-07-2018, 13:49
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#7
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Registered User
Join Date: Feb 2016
Location: Northport NY
Boat: Pearson 10M
Posts: 431
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Re: What Would You Do W/ $700K
Quote:
Originally Posted by sailorboy1
Wine and women
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That is a plan regardless of available funds. Only the quality of wine may vary with resources, the quality of women should be consistent. Although with enough wine, who really knows?
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19-07-2018, 14:05
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#8
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Registered User
Join Date: May 2016
Location: Palmetto, FL
Boat: "Wanderlust" -- 1999 Jefferson Rivanna 52'
Posts: 874
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Re: What Would You Do W/ $700K
Buy a 10-12 year old power cat and use the rest for expenses as we toodle around for a few years.
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19-07-2018, 14:44
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#9
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Registered User
Join Date: Nov 2012
Location: Long Beach, CA
Boat: Tayana Vancouver 42
Posts: 2,804
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Re: What Would You Do W/ $700K
Have someone else change the oil.
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19-07-2018, 20:26
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#10
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Registered User
Join Date: Jun 2009
Location: Pensacola, FL
Posts: 1,261
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Re: What Would You Do W/ $700K
I would plan to spend the whole 5 years in the Caribbean. I figure 60k per year. save 100k for the unexpected. That leaves 300k to buy and outfit the boat. I would probably try to find a boat for 200k and save 100k for outfitting.
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19-07-2018, 20:32
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#11
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Registered User
Join Date: Jan 2012
Location: Australia
Boat: Catalina 470
Posts: 4,578
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Re: What Would You Do W/ $700K
Buy a boat similar to what i have ,purchase some incoming returning real Estate and cruise within my means until its time for a change. 700k is enough to stop and cruise indefinately IF its put in the right spot.
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19-07-2018, 21:33
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#12
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Registered User
Join Date: Oct 2017
Location: South Florida
Boat: 1987 Ericson 38-200
Posts: 119
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Re: What Would You Do W/ $700K
Buy my dream boat and sail around the world (we are young and poor, but adventurous ). Probably an Oyster, Hallberg-Rassy, or an Amel. Would head to the South Pacific first for sure to dive some remote reefs before they disappear.
So I would spend about 300-400k on the boat, 200k for sailing budget, and then I would invest the rest so that we could sail forever!
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19-07-2018, 22:56
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#13
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Registered User
Join Date: Jun 2016
Location: Australia
Boat: Milkraft 60 ex trawler
Posts: 4,653
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Re: What Would You Do W/ $700K
Quote:
Originally Posted by Wckoek
Agreed, $700k wouldn't get you a superyacht, but in the used market you can haggle an expedition motor yacht or trawler with sophisticated system.
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And how would you run and maintain it now the money has gone?
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19-07-2018, 22:58
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#14
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Registered User
Join Date: Jun 2016
Location: Australia
Boat: Milkraft 60 ex trawler
Posts: 4,653
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Re: What Would You Do W/ $700K
Quote:
Originally Posted by daletournier
Buy a boat similar to what i have ,purchase some incoming returning real Estate and cruise within my means until its time for a change. 700k is enough to stop and cruise indefinately IF its put in the right spot.
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Same same but different
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20-07-2018, 01:51
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#15
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Registered User
Join Date: Apr 2007
Location: Australia
Boat: Island Packet 40
Posts: 6,415
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Re: What Would You Do W/ $700K
Quote:
Originally Posted by rjinhb
Change of pace, mates. No caveats, no conditions...if you were given $700K US, what would be your 5 year game plan...crapping your pants excluded.
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The first thing that any prudent male would do is hide it in a tax haven and file for a divorce.
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