Besides your ranting because you can't afford a decent boat,
what is your point?

Scotty

"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

Wilbur Hubbard wrote:
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

In the UK, the average idiot keeps his money in a savings account, which
pays less % interest than inflation. He has no boat, and no interest in
sailing or any other hobby.

When he dies, the Government values his "assets" including his house (an
essential pre-requisite in our climate), and deducts 40% inheritance tax.
The rest goes on funeral expenses and re-locating his dependants in a
smaller residence such as a mobile home.

I would opt for spending the $27K a year on a bit of enjoyment whist I'm
alive, at least I can put two fingers up to the Government jus before I
leave the planet for good!

Money is there to enjoy. It's only money when all is said and done. Spend it
before the men in Westminster get their filthy hands on it!

Dennis.

Dennis Pogson wrote:

Wilbur Hubbard wrote:

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


In the UK, the average idiot keeps his money in a savings account, which
pays less % interest than inflation. He has no boat, and no interest in
sailing or any other hobby.

When he dies, the Government values his "assets" including his house (an
essential pre-requisite in our climate), and deducts 40% inheritance tax.
The rest goes on funeral expenses and re-locating his dependants in a
smaller residence such as a mobile home.

I would opt for spending the $27K a year on a bit of enjoyment whist I'm
alive, at least I can put two fingers up to the Government jus before I
leave the planet for good!

Money is there to enjoy. It's only money when all is said and done. Spend it
before the men in Westminster get their filthy hands on it!

Dennis.


hear hear
Shaun

Hey Wilbur--not everything is "an investment" and it's only money!

"Peter" wrote in message
ups.com...
Hey Wilbur--not everything is "an investment" and it's only money!


Spoken like any other pauper . . .

Wilbur Hubbard

Wilbur Hubbard wrote:
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


I paid cash for the Mac26M, new and equipped as ordered. My slip fees,
insurance, and other expenses are much lower than the examples you give.
But I don't look down my nose like you do at people buying boats,
houses, cars, or consumer goods on credit. If it weren't for credit
(including credit cards), the US economy would go down the tube, lots of
homeowners would be living in trailers or tenements or on the streets,
and many more would be unemployed.

The issue isn't whether a person uses credit, it's how he/she uses it.
For example, a young family buying a home and car on credit and using
credit cards (with low interest rates, because of their good payment
history) and a relatively low total balance to level out major purchases
is doing the right thing, provided their total payments and total debt
load are moderate relative to their income level and reserves, and
provided they are keeping the percentage of their income invested in
savings, payments into 401 Ks, etc. high. In particular, they have more
budget savvy than someone who prides himself on being debt free but who
hasn't made wise long-term investments.

On the other hand, if owning one's boat, home and cars debt-free and
having lots of savings and investments is what's important, then you
should congratulate me. - Thanks Wilbur!

Jim

"JimC" wrote in message
news
Wilbur Hubbard


I paid $25 cash for the Mac26M,

You get what you pay for.

Scotty wrote:

"JimC" wrote in message
news
Wilbur Hubbard


I paid $25 cash for the Mac26M,


You get what you pay for.

\

Sorry you had to sell your Mac, Scotty. It's obvious that you still
miss it.

Jim