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The average boat owning idiot.
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 |
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