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Old 17-11-2019, 08:52   #406
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Re: Budget Be Damned

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Well you are free to use old history hindsight lessons that proved to not be useful except for writing a textbook and Iíll use modern communication and try to only be behind a few weeks.

The real purpose of the thread was to tell people to stop worrying about the financial noise out there and to go cruising earlier instead of making money for the planners.

Iíve been very apparent about my costs and money matters as they relate to going cruising. Im not interested much in people who arenít doing the same telling me Iím all wrong.
How did the lessons of the past prove not to be useful? please explain?

You open a discussion regarding finances and cruising, you point out you have actually got wealthier, your plan is working out better than you thought, good on you, I have not heard anyone say other wise! but when you initiate such a discussion you then invite others to contribute which of course will attract a variety of opinions, some that may not run exactly parallel to yours, that's what discussions are all about, thats what makes them worth while.

I am sorry that others views including mine cause you some angst, personally I would welcome them as I'm always open to questioning my position, it could make me or save me much money, bring those alternative views on I say!

In 10 years of fulltime cruising I've got much wealthier, I'm obviously a genius or the world is in a very unusual place that allows a smuck like me to keep getting richer while floating around on his lovely gin palace doing nothing. As much as I'd like to wear the "I'm a genius t shirt " I feel the latter is most likely the truth.
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Old 17-11-2019, 09:21   #407
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Re: Budget Be Damned

I don’t have any “angst”. Just like I had no angst during the housing “crisis” because that was easy to see coming (but it was stupid of me not to see how deep it was).

Meanwhile I have some boating stuff to do before today’s Patriots game.
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Old 17-11-2019, 09:32   #408
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Re: Budget Be Damned

The reason I really enjoy these discussions is because I have a blessed life and NEVER want to go back to work and live a "normal " life, I haven't worked in 12 years, Im completely unemployable in every single way .

The absolute number one ingredient (other than health) that enables me to live the way I do is money, thus money discussions including your posts (SB) interest me greatly, keep them coming!!!!

We live like Gods, somehow we got lucky and I know it.
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Old 17-11-2019, 10:37   #409
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Re: Budget Be Damned

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The reason I really enjoy these discussions is because I have a blessed life and NEVER want to go back to work and live a "normal " life, I haven't worked in 12 years, Im completely unemployable in every single way .

The absolute number one ingredient (other than health) that enables me to live the way I do is money, thus money discussions including your posts (SB) interest me greatly, keep them coming!!!!

We live like Gods, somehow we got lucky and I know it.
Yes, and AGREED!! On all points!

Given that the long term historical trend for equities has been upward, and that it remains (again historically) the type of investment with the best average returns (generally speaking for ordinary investors), I often struggle with whether it's better to realize a greater % of gains in years with high returns in order to preemptively fund large boat expenditures which I know will become non-discretionary down the road. The last thing I want to do is realize (lock in) losses in a downturn in order to fund new equipment, major repairs or upgrades that I already know are on the near horizon. If this year finishes out at +25% but next year at -25% for e.g., at least I've restarted the clock on whatever system got renewed. Or am I simply trying to justify replacing my aging electronics?

As long as one is not depleting the principal of an investment account to spend on more frivolous or unnecessary expenses, I suppose it can be looked upon as more of a transfer of assets (esp. if your boat is also your home). So while a64's oft-cited 4% formula is certainly sound in the long run, exceeding it in up years may provide the flexibility needed to conserve in down ones. Outside of allocation decisions, I suppose it's one of the more essential decisions that we actually have some control over. With no end in sight to low interest rates, fixed income investments will likely remain unattractive to most investors for awhile. For most that leaves equities notwithstanding its attendant risks.
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Old 17-11-2019, 13:54   #410
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Re: Budget Be Damned

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Rising markets are a marvelous thing . .
Unless you are dumb enough to believe that they will always be rising.

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Old 17-11-2019, 14:05   #411
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Budget Be Damned

Quote:
Originally Posted by Exile View Post
Yes, and AGREED!! On all points!



Given that the long term historical trend for equities has been upward, and that it remains (again historically) the type of investment with the best average returns (generally speaking for ordinary investors), I often struggle with whether it's better to realize a greater % of gains in years with high returns in order to preemptively fund large boat expenditures which I know will become non-discretionary down the road. The last thing I want to do is realize (lock in) losses in a downturn in order to fund new equipment, major repairs or upgrades that I already know are on the near horizon. If this year finishes out at +25% but next year at -25% for e.g., at least I've restarted the clock on whatever system got renewed. Or am I simply trying to justify replacing my aging electronics?



As long as one is not depleting the principal of an investment account to spend on more frivolous or unnecessary expenses, I suppose it can be looked upon as more of a transfer of assets (esp. if your boat is also your home). So while a64's oft-cited 4% formula is certainly sound in the long run, exceeding it in up years may provide the flexibility needed to conserve in down ones. Outside of allocation decisions, I suppose it's one of the more essential decisions that we actually have some control over. With no end in sight to low interest rates, fixed income investments will likely remain unattractive to most investors for awhile. For most that leaves equities notwithstanding its attendant risks.


How about instead of spending those earnings cash them out and have cash to ride out the downturn?
I have two years of cash, I believe Iím getting 3% or so from it too, so itís not a total loss, but if there is a down turn, then I wonít have to sell at the bottom to get by, as long as it doesnít last for more than two years.
Or plow them back into the investments?
Taking SS earlier than planned may be another choice assuming your in that window and not currently receiving it.
I understand your point but think replacing items before the need to be is not cost effective. Besides if there is a big downturn some things are going to be sold for quite a bit less than they are now, in the past Iíve actually sort of profited from corrections as Iíve had cash in hand to buy things that suddenly were a whole lot cheaper than before the fall.
My Father used to tell me that the opportunity to make money was best in hard times, you just had to be in a position to buy when everyone else was having to sell.
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Old 17-11-2019, 14:08   #412
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Re: Budget Be Damned

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In the meantime those that own some assets (like me) keep getting wealthier and the ones that dont get poorer.
A common myth.

Wages are up for everyone, but more for the lower paid employees. Unemployment is at record lows, overall, and in all minority categories.

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Old 17-11-2019, 14:16   #413
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Re: Budget Be Damned

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People need to stop trying to apply "rules" of the 60s, 70s, 80s etc. and even the 00s to the markets. Back in those days everything we knew about what was going on was based on history, we only really knew about it till pretty much after it occurred (maybe 1-2 quarters ago).
Are you saying there is no more greed and fear? Supply and demand ratios in the financial markets are primarily driven by human psychology, which has hardly changed in recent years.
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Old 17-11-2019, 14:36   #414
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Re: Budget Be Damned

Always interesting the response reaches people can come up when quoting something.
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Old 17-11-2019, 14:46   #415
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Re: Budget Be Damned

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Originally Posted by daletournier View Post
The reason I really enjoy these discussions is because I have a blessed life and NEVER want to go back to work and live a "normal " life, I haven't worked in 12 years, Im completely unemployable in every single way .

The absolute number one ingredient (other than health) that enables me to live the way I do is money, thus money discussions including your posts (SB) interest me greatly, keep them coming!!!!

We live like Gods, somehow we got lucky and I know it.
Most of the Gods down this way park their 50' - 65' sailboats this time of year and rent an apartment here at the marina for $2500/month or so since they are a ways away from their homes.

As far as not working, I'm not sure that is the healthiest way for a young man under 70 to live especially if you are just hanging out on a boat along the ICW and not cruising anywhere

The rest of us coastal cruising and working demigods sail when we want and live in anywhere from 1000 to 3000 sq ft and feel blessed as well
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Old 17-11-2019, 15:17   #416
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Re: Budget Be Damned

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Most of the Gods down this way park their 50' - 65' sailboats this time of year and rent an apartment here at the marina for $2500/month or so since they are a ways away from their homes.

As far as not working, I'm not sure that is the healthiest way for a young man under 70 to live especially if you are just hanging out on a boat along the ICW and not cruising anywhere

The rest of us coastal cruising and working demigods sail when we want and live in anywhere from 1000 sq ft to 3000 and feel blessed as well
The implication seems to be that having such land-living space is better than having much smaller boat-living space.
I downsized from 4000 to 1000 sq ft on land, and became happier in ways that I did not foresee.
I'm not yet able to downsize full time to our modest boat, but while onboard I'm happier there... in ways that 1000 sq ft on land cannot deliver. Sailing or just floating. Happier on the water.

It's good to realize that we're all different. Floating on the ICW or living on land? Floating sounds pretty good from here.
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Old 17-11-2019, 15:32   #417
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Re: Budget Be Damned

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The implication seems to be that having such land-living space is better than having much smaller boat-living space.
I downsized from 4000 to 1000 sq ft on land, and became happier in ways that I did not foresee.
I'm not yet able to downsize full time to our modest boat, but while onboard I'm happier there... in ways that 1000 sq ft on land cannot deliver. Sailing or just floating. Happier on the water.

It's good to realize that we're all different. Floating on the ICW or living on land? Floating sounds pretty good from here.
That's great.

I was lucky at 39 years old to be able to move to an apartment 150' from the water (from 500 miles inland ) where I kept my two beach cats.

I seemed to always have two starting with Hobie 16's then moving up to Nacras with spinnakers.

This at 30 degrees latitude.

So I know the scene. I lived in those apartments for maybe 6 years before moving a few miles inland before a hurricane (Ivan 2004) basically rendered the apartment complex uninhabitable for a few years.

The 5-6 hurricanes we had in the years before (1996-2003) we were able to party and watch boats drag off anchor and be destroyed by the low bridge in the so called hurricane hole of Bayou Grande but not with Ivan and it's 14' surge. The apartment was maybe 4' - 5' above sea level

Wind is gusting 40 knots plus here today (for last few days actually) and most all boats are bouncing all over at our marina where I spent a couple hours this afternoon.

I'm not sure how happy you'd be floating on one at the moment

And yes I am implying that such living space (1000- 3000 sq ft) is quite nice to have along with a boat for when you're feeling like using it whether it be in light or heavy weather

But maybe it's because I've been on boats along the ICW that I owned since 1971 or so and was on boats in the Chesapeake Bay or along the ICW seaside years before that so I know what it's like on a boat.

A couple weeks back I was retying my boat in 45 knot winds at 35 degrees and my hands keep freezing after getting wet. I had to put them in my pockets for a while to warm them up (and have a beer) then continue tying.

When I did get back to the apartment, it was 68 degrees inside with the heat off! Quite nice.

Over at the house, there is more protection with the trees etc so you can find nice spots even when it is windy
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Old 17-11-2019, 17:24   #418
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Budget Be Damned

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....
Wind is gusting 40 knots plus here today (for last few days actually) and most all boats are bouncing all over at our marina where I spent a couple hours this afternoon.

I'm not sure how happy you'd be floating on one at the moment
....
A couple weeks back I was retying my boat in 45 knot winds at 35 degrees and my hands keep freezing after getting wet.
Lol, I never sail above 34 degrees lat unless that hemisphere is tilted accordingly. Cold? Not my jam.
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Old 17-11-2019, 17:56   #419
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Re: Budget Be Damned

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Lol, I never sail above 34 degrees lat unless that hemisphere is tilted accordingly. Cold? Not my jam.
That's too bad.

You would get a real lesson on how fast the weather can change.

Plus, you are missing some beautiful weather and colors as the seasons change

My son was used to playing music on Bourbon Street, New Orleans, but up here to make money, it's a bit different. (this at the Farmer's Market Smithfield, VA in late fall)

This at around 36.55 N.
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Old 18-11-2019, 07:57   #420
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Re: Budget Be Damned

Whenever I hear someone saying "things are different now" or talking about a "New Economy" I start to get worried. I've heard those things before.

Changing subject...

Quote:
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Wages are up for everyone, but more for the lower paid employees. Unemployment is at record lows, overall, and in all minority categories.
Wages may be up, but everything I've seen says that the buying power of those wages is way down for all but those at the very top. Income inequality is very real, and has grown at a frighteningly rapid pace, no matter which metric you use. Saying things like "Let them eat cake" doesn't usually end well.

I really hope I'm wrong; that the job market stays strong and my 401k continues to increase in value faster than inflation. The last ("Great") recession started in December, 2007 and the recovery started in June, 2009. It's been a fun ride, but history is not on the side of this continuing a whole lot longer.
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