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The average boat owning idiot.
In article ,
Don White wrote: "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 It's probably all relative... That so called "average idiot" is probably hauling in well over 6 figures a year. Is it any worse that a washed up retiree pulling in 20K per year on a Post Office pension and spending $5K per year on an ugly yellow boat with purple interior? Both are probably spending the same percentage of their discretionary income on boating. I guess I'm not the average idiot, darn it. I paid cash for my Sabre; thus, no financing. The upkeep, upgrades, fees, etc. are deductible business expenses, and I get to go sailing. -- Capt. JG @@ www.sailnow.com |
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