View Poll Results: Do you own your boat
I paid cash or paid off my boat loan
152
58.24%
The bank owns my boat
109
41.76%
Voters: 261. You may not vote on this poll
Do you own your boat
01-28-2005 | 05:33 AM
#71
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From: SE, Michigan
Re: Do you own your boat
Originally Posted by HotPursuit
Money markets are to safe try Legg Masion,haven't been below 13% average in 2
years!!!!!!!!!!
years!!!!!!!!!!
HotPursuit, what is legg masion? I searched for it but come up with nothing.
If your in the stock market ticker "NAT"-nordic american tanker is paying right around a 12% dividend, I don't own it I just get to hear about it every quarter when my co-worker gets his check
01-28-2005 | 06:12 AM
#72
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From: Connersville ,Indiana
01-28-2005 | 08:56 PM
#73
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Joined: May 2004
Posts: 1,783
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From: Slidell,Louisiana
Re: Do you own your boat
Originally Posted by MildThunder
I took a blood bath during the telecommunications bust,dusted off and back in
the saddle. Your Registered CoonAss Keep it Triple
01-28-2005 | 11:27 PM
#74
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Posts: 721
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From: Lake Norman, N.C.
Re: Do you own your boat
Originally Posted by MildThunder
pm me were you have money market ill take some of that 9% 
best i can find is 6.75 % on bonds 5 yr
best i can find is 6.75 % on bonds 5 yr
No problem. I can only assume you do not have fidelity funds investment accounts.
For this past year, the return on the Baron Growth was 31.75% and the Fidelity Blue Chip was at 24.80%. The worst one on my porfolio was the Fidelity Freedom Income at a mere 7.33%. I never said I had money in the money market. I said i had money in the market
Yes, over the past several years the account has been volatile, but it seems now over the last 5 to 6 quarters it is very lucrative again.
I use the Fidelity Investment Services provided by my company and have been very pleased. If you need to contact them the number is 1-800-421-3644 or on the web at www.401k.com
01-29-2005 | 12:17 AM
#76
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Re: Do you own your boat
Originally Posted by MILD THUNDER
"Finance a boat = the fastest way to throw your money away other than the dog track .. ?% for 10-15 years plus depreciation.. No THANKS"
Finance a 100k boat for 15 years @ 6%. 844 a month. Total paid after 15 years=151,290.
100k in a 2%apy money market for 15 years, you will just about have 150k in the account. There are tons of investments you can make with that 100k to make more, but it was just to give an idea. I say, let the money work for you, and its there in case of emergency. As long as you can afford the note, and still save money, why not. Like hotpursuit says, money is cheap now(well not for me) but for the guys who can get a 5% apr.
Finance a 100k boat for 15 years @ 6%. 844 a month. Total paid after 15 years=151,290.
100k in a 2%apy money market for 15 years, you will just about have 150k in the account. There are tons of investments you can make with that 100k to make more, but it was just to give an idea. I say, let the money work for you, and its there in case of emergency. As long as you can afford the note, and still save money, why not. Like hotpursuit says, money is cheap now(well not for me) but for the guys who can get a 5% apr.
Bingo! I would feel much better having my life fall apart and having my 100K in the bank. They can come get the boat and all the other toys for that matter. The money evens out if you play it right. The best way is to borrow against your own 401K and pay YOURSELF back with interest! 200K is ALOT of cash hanging around for a rainy day. I do not boat to try to save money and I write the boat off totally for work. It would be insane to pay cash and lose ALOT of your borrowing power to build spec homes, invest etc....
Cash in hand makes a rainy day better.
01-29-2005 | 09:24 AM
#77
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Posts: 1,914
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From: Virginia Beach
Re: Do you own your boat
Steet, what you have said definitely makes finacial sense. Unfortunately for me, I just don't make enough money to afford a monthly boat payment. 
I am fortunate to have made some VERY good investments during the 90's bull market. I have used that to my advantage and continue to. I have always paid cash for my boats until my current boat. My first go-fast was a '94 16 Classic. Not much @ $15K, but I sold it for $12K a couple of years later. Rolled that into a 232 which I paid $31K for. It burned up in a boatel fire 4 years later and I received a check for $31K which I rolled into a '00 272. Paid $58K for that boat which I traded two years later on my '02 340. I think I got something like $48K on trade....on paper at least. The balance I financed myself by writing a check on margin against my brokerage account. Interest rates over the last three years have been very low, but that is changing fast. However, by using the dividends and selling some loosers for additional write offs against dividends I am down to owing myself about $30K. (Plus margin interest is a write off.) I should have that payed off soon. So I should be back to zero balance and be ready to move on something bigger.
The wife now wants a Cig.
I can say without a doubt that it won't be a new one! Can't do that much margin!!
I am fortunate to have made some VERY good investments during the 90's bull market. I have used that to my advantage and continue to. I have always paid cash for my boats until my current boat. My first go-fast was a '94 16 Classic. Not much @ $15K, but I sold it for $12K a couple of years later. Rolled that into a 232 which I paid $31K for. It burned up in a boatel fire 4 years later and I received a check for $31K which I rolled into a '00 272. Paid $58K for that boat which I traded two years later on my '02 340. I think I got something like $48K on trade....on paper at least. The balance I financed myself by writing a check on margin against my brokerage account. Interest rates over the last three years have been very low, but that is changing fast. However, by using the dividends and selling some loosers for additional write offs against dividends I am down to owing myself about $30K. (Plus margin interest is a write off.) I should have that payed off soon. So I should be back to zero balance and be ready to move on something bigger.
The wife now wants a Cig.
I can say without a doubt that it won't be a new one! Can't do that much margin!!
Last edited by Macklin; 01-29-2005 at 09:27 AM.
01-29-2005 | 10:00 AM
#78
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Joined: Mar 2002
Posts: 3,459
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From: Winnipesaukee
Re: Do you own your boat
Originally Posted by Macklin
Steet, what you have said definitely makes finacial sense. Unfortunately for me, I just don't make enough money to afford a monthly boat payment.
I am fortunate to have made some VERY good investments during the 90's bull market. I have used that to my advantage and continue to. I have always paid cash for my boats until my current boat. My first go-fast was a '94 16 Classic. Not much @ $15K, but I sold it for $12K a couple of years later. Rolled that into a 232 which I paid $31K for. It burned up in a boatel fire 4 years later and I received a check for $31K which I rolled into a '00 272. Paid $58K for that boat which I traded two years later on my '02 340. I think I got something like $48K on trade....on paper at least. The balance I financed myself by writing a check on margin against my brokerage account. Interest rates over the last three years have been very low, but that is changing fast. However, by using the dividends and selling some loosers for additional write offs against dividends I am down to owing myself about $30K. (Plus margin interest is a write off.) I should have that payed off soon. So I should be back to zero balance and be ready to move on something bigger.
The wife now wants a Cig. I can say without a doubt that it won't be a new one! Can't do that much margin!!
I am fortunate to have made some VERY good investments during the 90's bull market. I have used that to my advantage and continue to. I have always paid cash for my boats until my current boat. My first go-fast was a '94 16 Classic. Not much @ $15K, but I sold it for $12K a couple of years later. Rolled that into a 232 which I paid $31K for. It burned up in a boatel fire 4 years later and I received a check for $31K which I rolled into a '00 272. Paid $58K for that boat which I traded two years later on my '02 340. I think I got something like $48K on trade....on paper at least. The balance I financed myself by writing a check on margin against my brokerage account. Interest rates over the last three years have been very low, but that is changing fast. However, by using the dividends and selling some loosers for additional write offs against dividends I am down to owing myself about $30K. (Plus margin interest is a write off.) I should have that payed off soon. So I should be back to zero balance and be ready to move on something bigger.
The wife now wants a Cig.
I can say without a doubt that it won't be a new one! Can't do that much margin!!If ya cant afford it , you realy shouldnt be driving it ..
Financing is just an expensive way to delaY THE INEVITABLE
