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Income and boat payments.........(long)

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Old 09-05-2002, 09:15 AM
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Default Income and boat payments.........(long)

We all know from experiences how much it costs to own and operate a boat.

I have a picture above my desk of my boat and also some pictures of the goodies I've added since I've owned it.

Another gentleman walked by my desk and made a comment saying " really nice boat". A conversation was started about how big is it? How much horsepower does it have? Where all do you run it? We talked for a few minutes about it and then the question was brought up " can you tell me what you roughly paid for it?

I told him quite a bit. He said what , 30 or 40 thousand for it? I said " I wish". I told him roughly what I paid for it and he was astonished it cost that much.

This led into another conversation about what kind of income do you need to own a boat that cost that much?? I thought a minute and said" you know, thats a good question. He said
" what do you mean by that"?

I said" I know what I'm comfortable with but everyone is different".

We all want to own the biggest and fastest boat we can afford. We're not all rich or own companies or make huge salaries. Some of us are without boats over the summer saving money to put our boat back together. Some of us bum rides from friends till we get ours back together. We know were frustrated at times making a payment on something that just sits their waiting for us to get the money to fix it . This is not including storage fees. Some of us work out of town for long periods of time not being able to enjoy something we've worked really hard for. (This of course would be me!) .

I know all of us are in totally different situations.

This brings the income into question!!!

Do we make plenty for what we say we can afford?
Is enough NEVER enough for what we thought we could afford?
Do we scrape by for what we thought we could afford.
Is enough NEVER enough for what we want to be able to afford?

Or, are we just never going to be settled with what we have???

I work hard and a lot of hours for what I have as I'm sure you do too. I was just wanting some input. This is MY personal opinion and is not meant in any way to offend or insult anyone. This is not to start any kind of debate on someone's personel income either. As I stated before " everyone is in a different situation"

Had some spare time at the office pondering thoughts.

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Old 09-05-2002, 09:41 AM
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I usually buy "Fixer-Uppers" in the end they look like a ton of money and usually I have a ton of money in them. However I can rebuild them on my time and money, that way I'm not sticking my (or my wife's) neck out too far.

The last boat I bought in a partnership with a very good friend of mine. I know that most people say stay away from this kind of thing but, in my case it has worked out great!!

It is an expensive hobby we have, and most people don't understand us. But, "to heck, with those people I enjoy it!!"

I got another Bad look from a lady driving a school bus this morning while I was moving My Boat for a Funeral I have today. I don't know if she thought that I was going to the lake today instead of working or if she just saw me in a shirt and tie pulling a big boat and thought I was some rich snob. Truth be known I worked until 9:30pm last night and was back here to work at 7am this morning.

It's kinda like driving a Corvette!! I use to have one a couple of years ago and I was always getting dirty looks from strangers. Unlike just before the 'vette I had a convertable GT Mustang. I would get thumbs up from strangers all the time!! Both were not brand new but in good shape and bought for under 10 grand!!
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Old 09-05-2002, 09:45 AM
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That's the kind of input I'm talkin' about!!!!!


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Old 09-05-2002, 10:00 AM
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Personally, I put every spare penny into maintenance and upgrades. I would rather fix it before it breaks. This keeps the cost down and keeps me busy. My wife and I just recently started going out to dinner again, got satellite TV etc. Prior to that it was scrimp and save to cover extra mortgage and boat payments. Point is, is that a lot of us choose how to spend the money. If you conserve in some areas it leaves more for the boat. I have lots of friends who drive new cars and trucks and wonder how they could afford a boat. Itís where ya put the beans, not how many.

Tim T.
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Old 09-05-2002, 10:07 AM
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I've had the same conversations with co-workers, and they are always sayin where do you get your money? But what they don't realize(I guess)is that my wife has a good job, I'm not overpayed by anymeans but not underpayed either. We don't have children and our hobbies are different than theirs. We don't take a week vacation to the bahamas or disney world every year we go boating every weekend. We didn't go out and by a 200k house and get the 2k monthly payment. We bought a duplex and lived in one side for the longest time. Cyndi works long hard hours during the tax season, and I don't go home and sit around I work around the yard and mow a lawn or two just so we can "afford" to go boating..

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Old 09-05-2002, 10:48 AM
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I/we don't make anywhere's near what most of the other board memebers do, it's obvious by looking at their boat pics and other pics that show their homes and cars.
We bought ours outright, paid cash. We took the money out of our personal invesments to do it. No, it didn't cost 100K or more, it was only 13K.
Remember, our Formula is only 21' long.
It hasn't cost much in maintenence, I do all the work myself. I do have some major work coming up, the entire transom assy. needs to be replaced.
Our mortgage is only 530 a month but we have two car payments totaling almost 900 a month.
Boating only costs us the gas and ramp fees. If we were to loose our jobs we could sell the boat for cash and survive for a little while.
The wife wants a much larger boat, but that'll have to wait till we can afford it. Right now she's content with what we have.
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Old 09-05-2002, 12:51 PM
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Funny isn't it how the guy drivin the bimmer or the mercedes or whatever never needs to justify the cost of the car to anyone and rarely if ever is asked to, but the guy with the nice boat is asked to justify the cost by dam near everyone,friends and family inclusive.Ya I spent a load on my boat,but I don,t live in 6000 square feet,I don't own a condo in Fla. as a winter home nor a big fancy summer home at the lake.But if I did,I bet not very many would question why I spent that money. Just a thought.
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Old 09-05-2002, 01:02 PM
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Hey Airpacker,


That was a very good point!!

What about racing cars, horses, hell, even gambling!

To me, its what I love doing!! Is there a limit on the price you pay for what you enjoy the most???


I don't think it has a limiting dollar amount. I think thats your call.



A lot of people don't understand boating.
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Old 09-05-2002, 01:09 PM
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Many of my co-workers don't how I could afford my toy either. I have to remind them that I'm single, no kids, I don't own a house and this is my big passion. Most of them have families and other pasttimes they spend their money on. I think if you feel comfortable paying for what you own, that's what's important. People who are not in this sport do not understand the costs involved or the amount of enjoyment we get from it.
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Old 09-05-2002, 01:33 PM
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I had a conversation yesterday at work with a guy in senior management who was telling me he was boating this past weekend on Long Island Sound. He keeps his boat near mine...he has a 21 Boston Whaler Outrage(which I think is a great boat by the way). I mentioned that I will be on vacation next week and taking my boat to Block Island and possibly Newport.

This is when I felt very uncomfortable and in hindsight, it makes me mad. he asked me what kind of boat I had and the minute I said Cigarette, he asked If I owned it with my parents or something. I politely and sheepishly replied that I owned the boat by myself and after a seemingly dirty look from him, the conversation ended. Mind you, it doesnt bother me that he thought that I could not afford it on my own...but his attitude when he found out I could...

I live my life exactly like Jana and 283check, I'm not married, I rent a small apartment, my cars are paid for, I don't go to the carribean every year... It really bothers me that I should have to try and justify that to anyone just because of the brand and type of boat I own.

From now on, I'm telling people I own a small cruiser...I don't need this kind of crap.
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