My boat vs. the S&P500 this year?
10-10-2002, 11:04 AM
#1
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My boat vs. the S&P500 this year?
Just curious, what do you experts think the first year depreciation on a boat like mine runs in terms of a percentage?
Currently (year-to-date) the stock market as measured by the S&P500 is down 31%. Boats don’t deprecate that much in the first year do they?
Just want to bust some balls around the office of the guys that teased me about putting this much cash into a depreciating asset.
Currently (year-to-date) the stock market as measured by the S&P500 is down 31%. Boats don’t deprecate that much in the first year do they?
Just want to bust some balls around the office of the guys that teased me about putting this much cash into a depreciating asset.
10-10-2002, 11:25 AM
#2
Toxic FORMULA
Platinum Member
Yeah , Last night I guy I work with was crying about how he's lost $400,000 over the past couple of years in his 401K and the stock market
.
I pointed out to him how my Formula hasn't lost NEAR that much . This same guy also said what a bad investment my boat was when I bought it three years ago.
Now to add insult to injury and to kick a guy when he's down , I pointed out how if he took that money and bought a good boat three years ago , instead of his 20'center console / 150 Merc egg beater , he would still have 2/3 of his money(in the boat) and had a helluva boat to enjoy the past three years
BOY , did I tighten his jaws
.I pointed out to him how my Formula hasn't lost NEAR that much
. This same guy also said what a bad investment my boat was when I bought it three years ago.Now to add insult to injury and to kick a guy when he's down , I pointed out how if he took that money and bought a good boat three years ago , instead of his 20'center console / 150 Merc egg beater , he would still have 2/3 of his money(in the boat) and had a helluva boat to enjoy the past three years
BOY , did I tighten his jaws
10-10-2002, 01:19 PM
#3
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Talk about timing here...last night I was talking with my fiance about how both of us have taken a beating in our retirement $$ and how a boat would have been a better investment from a depreciation standpoint!!! Gee...I wish I would have known about this a few years ago, it would have been a no brainer to "invest" in a new Top Gun with little to no resistance from the better half
10-10-2002, 02:11 PM
#7
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UT,I bet I could get dam near what I paid for my one year old daytona if I sold it now I am going to have to work for about 5 more years to make up what my retirement savings lost in the last year
I am going to have to work for about 5 more years to make up what my retirement savings lost in the last year
10-10-2002, 05:02 PM
#10
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Don't want to think about it. In the last 3 years I know about 4 or 5 people that have died either my age or a little younger. Most of them did not want to spend any money but wanted to save it for retirement. Make me change my outlook. So Enjoy today, there may be NO tommorrow. (that would make a good tag line)
