How much (cash) is too much
 

Would you spend 1/2 a years salary on 1 boat?

I’ve always wanted a fast boat. 2 young kids, we have the $200k tritoon (paid for), but the kids don’t like going fast on it and it’s not fast enough for me.

So, wait until they are older, or spend 500k now on outboard cat. (Want speed and outboards). Would be for myself and wife, probably used 5 times/summer…or all the time if by myself. We’d keep the toon. This would be a cash purchase also.

Only real hobby we have now. Still invest

So, 500K is half a years salary? You make a million bucks a year? Buy the damn boat you want.

We are otherwise very frugal and invest >50% gross.

I want some real world experience, not ‘maybe you can afford it if you hate ROIs’.

I’m not humble bragging, want some older perceptions and thoughts. Maybe you’ve been there.

depending on your debt to income ratio…doesn’t seem unreasonable to spend $500k.

if house is paid for, invest, etc…enjoy the fruits of your labor and live life. Especially if it’s something your are passionate about.

you only live once and you cant take it with you so enjoy it while you can! If you wait, then things may change (even health wise) and you wont be able to enjoy it and regret it....so just go for it and be happy! :D

My opinion honestly isn't worth a ton, but.. boating is really about priorities and what you want to enjoy. Your ROI may not be measured in cash, but instead memories and experiences. I think either way you'll obviously be fine financially as you seem very good with your monetary mindset and ability to manage the cash. The question really comes down will the additional boat get you the memories, enjoyment and experiences you want? If so I'd say it's worth it. None of us are promised tomorrow.

Again... This is coming from someone who doesn't make a fraction of what you most likely do so take it for what it's worth. Either way, wish you the best of luck and enjoyment with the family.

SMH:picard1:...............rich people problems :party-smiley-004::lolhit:

Not saying you and your wife don't work hard and deserve every dime you make, but you can easily afford it. It really depends on if you want to afford it.
Realize that insurance will cost at least $1000/month as well and you will probably need the Tres Martin performance boat courses to get cat insurance.

When I bought my current boat, it cost more than a 1/2 year salary for me. It was worth it to me.

That was the plan (take mandatory’class’) we are all about learning. Watching people crash has got her a bit scared.

What's a tritoon $200k must be real nice keep it and buy the cat also :ernaehrung004: As for doing the numbers with boats it won't work we just put $50k into a 1990 boat but our choice? If we went on here to ask I can only imagine the flack! Also to drive a cat fast is all you will get if speed gives you most pleasure buy it! Also forget the $$$ it will never make sense buy it!

When I was only making a million per year, I was focusing on things other than unnecessary luxuries. Once I really started making some money, the boats and jets and other "wants-not-needs" came easily and were no longer something I had to 'budget'. Oh, sure...the houses in Monaco and Switzerland might be considered a little 'over the top' by some but my places in Maui and Miami just get so BORING after a while, you know? And Muffy, my wife, that silly girl...she can be SO demanding! I am sure you can relate. Keep your chin up, Bucky...you won't have to be slumming around in such unworthy craft soon, not with your Plan.

LOL, I’m sure there’s a couple of us reading and thinking the same thing

i feel like it all depends on the big financial picture, and life picture...if you are asking this question, can i afford it/ should i afford it, maybe you kinda already know its a bit of a splurge. depends how old you are, how much you will use it, will you still like the idea cost responsibility after the first two years...
i could afford a boat for 250, no that isnt half a years salary, its alot more. but im close to 50 and have been boating my whole life and been investing since i was in my early 20's, so i know i want to keep boating, and i have the finances to do it.
i dont buy a boat every few years, more like once every 10. i just upgraded recently. my goal is to find a boat i will love and enjoy and also is financially reasonable. if you are questioning if 500 is a bit much... arent there plenty of amazing boats at the 250 or under price range?? then you can live the dream and feel like it was financially smart too... maintenance on a 500k is going to be astronomical as well. ongoing costs can be exasperating. just something to consider. when i was younger bigger better faster was a major consideration, but i sill had to settle for back of the pack. thing was i was still in the pack, everything was great. for a boat you are going to use by yourself?? only a few time a year?? seems like you could afford it, but why? if you cut the cost in half then its much easier to justify. boating alone is boring btw. lol. if you need this boat to take side piece for vroom vroom boom boom sessions ok ;) but thats gonna cost you alot more than half a years salary...

Spend half a years salary on a boat….? Heck, that’s what I lose every time I sell a boat!

OK, you can afford what you want but you need to justify it to yourself. One question I’ve pondered a few times is when will I buy my last boat? I’m currently boatless and holding off until I’m sure whatever I buy will keep me happy for 20 years, instead of my usual 2-3 years. Once I’m convinced it’s the perfect boat, I won’t mind spending more money. I’m just tired of losing so much, it has soured the whole deal of boat ownership and I’m determined to get my money’s worth next time I buy.

My 2 cents.

RR

Mines for sale, 1/2 mill should cover it.......:signs043:

Darr,,

If you make 1 Mil a year I think the question would be to your financial advisor, not the internet. Try this on Facebook I am sure you will get sound advise.

Thats cheap at twice the price!

purchase the boat you can afford before getting to old to enjoy it?

Seems more than reasonable given the income, just my accounting 0.02. Probably been watching too much Howie 2 Live youtube videos......... like myself. Idea of 90mph at 2mpg up and down Florida coast and Bahamas don't get much better to me. Tomorrow never a guarantee.

Love watching their video adventures https://www.youtube.com/c/Howe2Live/videos

Don't forget the $60K or more pickup truck tow vehicle.

I'd never buy anything expensive I'd plan on using 5X a year...............boat/car/house/airplane..........only 5X annually? No way

It sounds like you can absolutely justify it financially. That said, you just cannot buy experience. **** happens FAST at over 100mph, and a weekend with Tres Martin will do little if you do not already have some experience. The last thing that you would want is a boat that gets out ahead of your skill level (google "fork tail doctor killer).

I believe that I saw that you were at Lake of the Ozarks. If you really want a boat like this, with your experience level you will need a company in your corner that can help with maintenance, repairs, and general support. You may even need or want some one on one training that goes well beyond the Tres Martin course. I would suggest that you contact Brett at Performance Boat Center and let him know your thoughts. He and his crew can not only set you up, but give you the ongoing support that you will probably need. He has some very, very experience cat drivers working there.

Good luck!!!

Spend the time with your kids now, boats will be around long after they are grown.

Just re-read your first post, answers above ^^^

Anyone else on here got a lazy 500K to drop on a boat? If the OP orders a new boat, with back orders on many new boats, he’ll have a lazy 1,000,000K in 12 months time when his new boat is ready. Yeah, a real nasty position to be in. 🙂

​​​​​​​RR

My kids were boating with us before they could walk and those memories on the water will last a lifetime.

I would have a hard time having that much tied up just because of the lost opportunity on other toys. For example buy a 250k boat and have enough left over for a Mclaren or 2 new matching his & her Z06 vettes.

Im in VA so i find it difficult justifying too much money on something we use a half a dozen times a year. In addition to boat costs im also saddled with an F350, maintence costs, insurance and a spare piece of property/garage just to store it in 9 months a year. A lot going on to make 5 lunch runs a year!!!

Buy a 28' Skater... runs over 100, solid runner even in rough, easily handled solo and solid resale when you want out.

Great learning boat as a stepping stone for bigger cats without monster $$$ of new .......and if the boat is seriously only used 5 times a year, the next prospect will be giddy to buy it (always a market for the 28' - keep your records UTD)

Half a years salery??? Hell I spent over a years salery!!! And that's making a 10th of what you do, and I've never regretted it, it's something true to my heart and my wife and I live for the boating season, some may say that's nuts, but I've been able to manage the truck to tow it, insurance, maintenance and repairs for almost 7 years, so if I can do it, I'm pretty sure you could handle it

If your kids are scared going fast on a pontoon you need to raises those pussies better .:kiss:

Unless you can predict the future, do what you can do the day you can do it. If you want a cat, I strongly recommend what Tango advised; contact Brett at Performance Boat Center and have him set up continued education via Rusty or Myrick and learn from the best "how to stay out of trouble". I just picked up a Wright Performance 360, also have the Playcraft toon. Its a great combination to check all of the boxes.

Good luck and hope to meet you at the lake.

Joe

With rates the way they are, why pay in cash? Let that 500k make you 5-10%. Granted, the market is a little unstable right now.

I do understand where you’re coming from. I bought a boat that needed work, but was probably closer to 10-15% of my annual income. Even with that I questioned if it were a wise decision. Financially, not wise, but we’ve had fun getting it out and the kids are starting to enjoy it!

[QUOTE=JPEROG;4821412 I just picked up a Wright Performance 360, also have the Playcraft toon. Its a great combination to check all of the boxes.Joe[/QUOTE]

Congrats on the new 360! The Mrs and I are going to the Miami show this week to drool over some boats!

What if, you sell the toon and get a very fast CC? If you get a cat, it will only be for you, it will get very cramped with your family. You want your kids running all over the bow, no place to lay out. Your family will love a fast CC and when the kids get older, then get a cat.

I think this thread is getting a bit……..boring…….
The O.P. lives on 500K/year and still has an extra 500K/year in loose change and he’s asking other people what should he buy.

The answer is simple, ‘Whatever you like’.

RR

Add about 30 to 40k for a truck now. That's if you can find one that's not already presold.

My F350 right now is worth more than I paid for it three years ago.

My F350 is worth more now and I haven't even got it yet! Priced it again just for the fun of it and its now 2K more, dealer said they are holding the price at order.

There's a little gem of a boaters group on Facebook, look up Passion for Powerboats. I'm sure people will chime in with sound advice.

Dude hasn`t been here since a day after he posted it.You guys got Darrrred!

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