In "KLC Lewis" writes:


wrote in message
...
Net loss of 270K. You pay 27 thousand dollars a year to use your boat
a dozen or so weekends a year. Stupid, just plain stupid!

Think about it.

Wilbur Hubbard

Now Wilbur do the math if the idiot did not purchased a boat.
Show with concrete evidence what happened to the 270K that what not spend
buying and maintaining a boat.


"Wilbur Hubbard" wrote in message
...
The average idiot buys a boat for say 100K and finances it for ten
years. He fits it out and keeps it in a slip. The fitting out costs 20K,
the slip costs 5K per year, the insurance costs 1K a year. Haulout for
bottom paint 1K a year. Fuel 1/2K a year.

After ten years the idiot has spent 250K paying back the loan, 20K
fitting out, 50K slip fee, 10K insurance, 10K haulout, 5K fuel, oil,
filters, etc.

345K invested in a 100K boat that perhaps can be sold in ten years for
75K. Net loss of 270K. You pay 27 thousand dollars a year to use your
boat a dozen or so weekends a year. Stupid, just plain stupid!

Think about it.

Wilbur Hubbard

As for me and Essie, I paid cash for her (all of $8,000) and have probably
put another $15,000 into new sails, rigging, instruments, anchors and other
improvements over the past 6 years. I pay about $3,000 per year on summer
slip / winter storage. Insurance is about $350 per year. Fuel? I haven't
bought any for years -- I probably burn about $10 worth in a season, since
the motor rarely runs and only burns about a quart an hour. Haulout for
bottom paint? Hauling out happens every October, as close to Halloween as I
can manage. I repaint the bottom, if needed, before splashing in the spring
(one month from today) and isn't an extra expense. But everywhere I've been
where bottom painting requires special haul-out, it happens every three
years or so, and costs about $500. Even if it's a grand, it's not a grand
every year.

What's she worth today? I can't say. I wouldn't sell her for rubies. If I go
broke and bankrupt and lose 'most everything I own, I will still have my
boat which will be my only home. People go to bars and pay $5.00 for a drink
which passes right through them after stealing their brain for a spell. To
me, THAT is a waste of money. Whatever floats y'er boat, mate!

We all know that it is dangerous to have more money than brains. To me
you are very fortunate, you are rich enough to get a boat enjoy it and
this other man is so poor he must calculate if he can afford one or not.
As he can not afford it, we really should feel sorry for him.

- Lauri Tarkkonen