Absolute beginner who's won a bit of money and wants to buy a boat!

[denverd0n]

Let's begin by clearing up the semantics. Whatever you call it, a boat is a money pit. The old saying is, "a boat is a hole in the water you throw money into." That is pretty close to being true. So, if you think that you can buy a boat, use it for a few years, and then sell it and get all of your money back, you are delusional.

Okay, maybe if you have professional-level boat repair and refit skills, you might get most of your money back. For most of us, though? Not a chance. For the OP? Absolutely no way.

The other point, as has already been mentioned, is that the OP's budget is really not even in the ballpark for the kind of boat he is talking about. Given that half the budget could easily be eaten up in one year in taxes, registration, mooring fees, insurance, and so on, then add in normal maintenance costs, and he has no money left to buy the boat in the first place!

Really don't mean to prick a hole in your dreams, Ben, but I think the smart thing to do would be to find some other way to invest the money. Perhaps a true investment, that pays some sort of returns.

Good luck, whatever you do.

[dannc]

Originally Posted by jeanathon

Troll on lockdowne...

Can't be a troll.

The post did not mention anchors, guns, or cats vs monos.

Later,
Dan

[StuM]

Originally Posted by Privleoplag

Originally Posted by khoff ...
I don't want to sound like a defeatist , but boats are not investments , they are exact opposite.

What do you mean? I have a lot invested sunk in my boat...

FIFY

[smbdyiam2]

Originally Posted by funjohnson

"Invest" is a colloquialism often used when talking about purchasing something.

Matt

Does that mean that when I buy a hamburger I am not investing in a restaurant, bakery and cattle ranch? Say it isn't so!!!