"Eisboch" wrote in message
...

"NOYB" wrote in message
news


But then what is the point of working harder and desiring advancement in
your career? I think the saddest thing is someone who is in their prime
earning years and not workig to maximum potential because of apathy. If
you're 55+ years old, that attitude is fine. But not at my age.


Hey!

Not to bring a dog to this debate, but for most people, their prime
earning and maximum potential years in terms of a career is in their 50's
to 60's.

NOYB, as your "handle" stipulates, this question is none of my business,
so ignore it if you desire, but I am curious. Are you married? Do you
have any dependents, married or not?


Yes. Wife and three kids. School is funded, and pension plan is funded to
the max each year.

I have no personal debt other than the home and the larger boat. Credit
cards are paid off every month. In fact, the only "bad" debt I have is that
Grady White. A house is an appreciating asset (at least over the long
haul), and affords me a writeoff. The boat also provides a writeoff, but
the deprectiation outpaces the terms of the loan, so I consider it a "bad"
investment.





I ask because your seemingly aggressive financial approach to life makes
perfect sense to me for a single person with no current or future
financial responsibilities other than to himself/herself. I am not saying
it's right or wrong but if someone in their mid 30's with a financial
responsibility for others who highly leverages themselves with interest
only mortgages, plus car and boat loans at basically the beginning of
their career and earning potential is taking a bit of a risk, IMHO. Old
school maybe, but too much debt can be a career killer no matter how much
you earn at the moment.


I work 4 days/week. I could easily work a 5th day if money got tight.
Also, I have a business loan that costs me $6000/month. It will be paid off
in 3 years, increasing my disposable income quite a bit. I have own
occupation disability insurance, and enough life insurance to pay off my
debts and leave another million or so to the wife and kids.

I live tight, but not dangerously IMO.

"Eisboch" wrote in message
...

"NOYB" wrote in message
news


But then what is the point of working harder and desiring advancement in
your career? I think the saddest thing is someone who is in their prime
earning years and not workig to maximum potential because of apathy. If
you're 55+ years old, that attitude is fine. But not at my age.


The following story is appropriate if you're 55+, but not at my age.
Afterall, somone has to pay for the retirees' social security.


Mexican story
The fisherman and the rat race
..........
Sunday 6 December 1998

The author of this little mexican story is unfortunately unknown.

An American investor is walking along the water in a little Mexican coastal
village. A boat comes in the harbor, with a few tuna fish on the deck. The
American compliments the fisherman on the quality of his fish and asks him
how long it took him to catch them.

"Not too long", answers the fisherman.

"But then, why didn't you stay at sea longer to catch some more?", asks the
banker.

The Mexican answers that those few fish will be enough to feed his family.

The American then asks: "But what do you do the rest of the time?"

"I sleep late, I fish a little, I play with my kids, I take naps with my
wife. In the evening, I go see my friends in the village. We drink wine and
play the guitar. I'm busy all right."

The American interrupts him: "I have an MBA from Harvard University and I
can help you. You should start by fishing for longer periods of time. With
the benefits you'll get from selling the fish, you could buy a bigger boat.
With the money you'd get thanks to this boat, you could buy a second boat
and so on until you have a whole fleet. Instead of selling your fish to
intermediaries, you could negotiate directly with a cannery, or open your
own cannery. You could then leave your little village for Mexico City, L.A.
and then maybe New York, where you'd direct the operations."

The Mexican then asks: "How long would that take?"

15 to 20 years, answers the banker.

And then?

Then it gets very interesting, answers the American, smiling. When the
moment comes, you can put your society on the stock market and earn
millions.

Millions? But then what?

Then you can retire, live in a small coastal village, sleep late, play with
your kids, fish a little, take naps with your wife, and spend your evenings
drinking and playing the guitar with your friends.

"NOYB" wrote in message
nk.net...

"Eisboch" wrote in message
...

"NOYB" wrote in message
news


But then what is the point of working harder and desiring advancement in
your career? I think the saddest thing is someone who is in their prime
earning years and not workig to maximum potential because of apathy. If
you're 55+ years old, that attitude is fine. But not at my age.


Hey!

Not to bring a dog to this debate, but for most people, their prime
earning and maximum potential years in terms of a career is in their 50's
to 60's.

NOYB, as your "handle" stipulates, this question is none of my business,
so ignore it if you desire, but I am curious. Are you married? Do you
have any dependents, married or not?


Yes. Wife and three kids. School is funded, and pension plan is funded
to the max each year.

I have no personal debt other than the home and the larger boat. Credit
cards are paid off every month. In fact, the only "bad" debt I have is
that Grady White. A house is an appreciating asset (at least over the
long haul), and affords me a writeoff. The boat also provides a writeoff,
but the deprectiation outpaces the terms of the loan, so I consider it a
"bad" investment.





I ask because your seemingly aggressive financial approach to life makes
perfect sense to me for a single person with no current or future
financial responsibilities other than to himself/herself. I am not
saying it's right or wrong but if someone in their mid 30's with a
financial responsibility for others who highly leverages themselves with
interest only mortgages, plus car and boat loans at basically the
beginning of their career and earning potential is taking a bit of a
risk, IMHO. Old school maybe, but too much debt can be a career killer
no matter how much you earn at the moment.


I work 4 days/week. I could easily work a 5th day if money got tight.
Also, I have a business loan that costs me $6000/month. It will be paid
off in 3 years, increasing my disposable income quite a bit. I have own
occupation disability insurance, and enough life insurance to pay off my
debts and leave another million or so to the wife and kids.

I live tight, but not dangerously IMO.


Then I would offer sincere congratulations. For a guy in his mid 30's you
seem to have things in good order.

Eisboch (shuda been a dentist instead of an engineer)

"NOYB" wrote in message
nk.net...

"Eisboch" wrote in message
...

"NOYB" wrote in message
news


But then what is the point of working harder and desiring advancement in
your career? I think the saddest thing is someone who is in their prime
earning years and not workig to maximum potential because of apathy. If
you're 55+ years old, that attitude is fine. But not at my age.


The following story is appropriate if you're 55+, but not at my age.
Afterall, somone has to pay for the retirees' social security.


Mexican story
The fisherman and the rat race
.........
Sunday 6 December 1998

The author of this little mexican story is unfortunately unknown.

An American investor is walking along the water in a little Mexican
coastal village. A boat comes in the harbor, with a few tuna fish on the
deck. The American compliments the fisherman on the quality of his fish
and asks him how long it took him to catch them.

"Not too long", answers the fisherman.

"But then, why didn't you stay at sea longer to catch some more?", asks
the banker.

The Mexican answers that those few fish will be enough to feed his family.

The American then asks: "But what do you do the rest of the time?"

"I sleep late, I fish a little, I play with my kids, I take naps with my
wife. In the evening, I go see my friends in the village. We drink wine
and play the guitar. I'm busy all right."

The American interrupts him: "I have an MBA from Harvard University and I
can help you. You should start by fishing for longer periods of time. With
the benefits you'll get from selling the fish, you could buy a bigger
boat. With the money you'd get thanks to this boat, you could buy a second
boat and so on until you have a whole fleet. Instead of selling your fish
to intermediaries, you could negotiate directly with a cannery, or open
your own cannery. You could then leave your little village for Mexico
City, L.A. and then maybe New York, where you'd direct the operations."

The Mexican then asks: "How long would that take?"

15 to 20 years, answers the banker.

And then?

Then it gets very interesting, answers the American, smiling. When the
moment comes, you can put your society on the stock market and earn
millions.

Millions? But then what?

Then you can retire, live in a small coastal village, sleep late, play
with your kids, fish a little, take naps with your wife, and spend your
evenings drinking and playing the guitar with your friends.




Good story. I've heard it before but it is still refreshing.

Eisboch

"Eisboch" wrote in message
...

"NOYB" wrote in message
nk.net...

"Eisboch" wrote in message
...

"NOYB" wrote in message
news

But then what is the point of working harder and desiring advancement
in your career? I think the saddest thing is someone who is in their
prime earning years and not workig to maximum potential because of
apathy. If you're 55+ years old, that attitude is fine. But not at my
age.


Hey!

Not to bring a dog to this debate, but for most people, their prime
earning and maximum potential years in terms of a career is in their
50's to 60's.

NOYB, as your "handle" stipulates, this question is none of my business,
so ignore it if you desire, but I am curious. Are you married? Do you
have any dependents, married or not?


Yes. Wife and three kids. School is funded, and pension plan is funded
to the max each year.

I have no personal debt other than the home and the larger boat. Credit
cards are paid off every month. In fact, the only "bad" debt I have is
that Grady White. A house is an appreciating asset (at least over the
long haul), and affords me a writeoff. The boat also provides a
writeoff, but the deprectiation outpaces the terms of the loan, so I
consider it a "bad" investment.





I ask because your seemingly aggressive financial approach to life makes
perfect sense to me for a single person with no current or future
financial responsibilities other than to himself/herself. I am not
saying it's right or wrong but if someone in their mid 30's with a
financial responsibility for others who highly leverages themselves with
interest only mortgages, plus car and boat loans at basically the
beginning of their career and earning potential is taking a bit of a
risk, IMHO. Old school maybe, but too much debt can be a career killer
no matter how much you earn at the moment.


I work 4 days/week. I could easily work a 5th day if money got tight.
Also, I have a business loan that costs me $6000/month. It will be paid
off in 3 years, increasing my disposable income quite a bit. I have own
occupation disability insurance, and enough life insurance to pay off my
debts and leave another million or so to the wife and kids.

I live tight, but not dangerously IMO.


Then I would offer sincere congratulations. For a guy in his mid 30's you
seem to have things in good order.

Eisboch (shuda been a dentist instead of an engineer)


I was an engineer (BSME Purdue University) before a dentist. ;-)

On Sun, 27 Aug 2006 21:57:26 GMT, Don White wrote:

JohnH wrote:
On Sun, 27 Aug 2006 19:09:03 GMT, Don White wrote:


JohnH wrote:

On 27 Aug 2006 10:47:03 -0700, "basskisser" wrote:



JohnH wrote:


On 27 Aug 2006 09:12:34 -0700, "basskisser" wrote:



NOYB wrote:


"Don White" wrote in message
...



Think small

No thanks. Thinking small is for the unmotivated in life.

You think that because someone has a boat that they really like,
although it may be smaller than yours is "unmotivated"? Do you think
that just because someone isn't financially overextended is
"unmotivated"? I think that people who overextend just for appearances
are fools.

bk, do you think that NOYB was trying to be controversial in his statement?
Maybe he was just saying how *he* feels about life, and not passing any
judgements on others.

Why the attacks?

It's a nice Sunday...chill out.
--

No, John, he certainly was, and always has, passed judgements on
others.


I'm discussing only the post you responded to, not the past few years.

I'm surprised that you'd take a philosophical comment like, "Thinking small
is for the unmotivated in life" as a personal attack or the passing of
judgement on you.
--
******************************************
***** Hope your day is great! *****
******************************************

John

Since I was the one who advised to "think small", I thought NOYB was
jabbing at me. Maybe I should have said 'think modestly'.
Obviously some here have no need to even consider that, but I stand by
my common sense advice.


Nah. He came back with a bit of philosophy to counteract the bit you gave
him. He's already bought his boat, so 'thinking small' wouldn't work for
this one anyway. Thinking small is what I'm doing for my *next* boat -
maybe a 17-18'er.
--
******************************************
***** Hope your day is great! *****
******************************************

John

There may be hope for you after all. Now if you'd look at a nice
sensible Lexus instead of an impractical Porsche...

Sensible Acura for the wife, impractical Porsche for me!
--
******************************************
***** Hope your day is great! *****
******************************************

John

"Shortwave Sportfishing" wrote in message
...
On Sun, 27 Aug 2006 07:57:16 -0400, JohnH wrote:

On Sun, 27 Aug 2006 11:50:32 GMT, Shortwave Sportfishing
wrote:

On Sun, 27 Aug 2006 10:26:27 GMT, "Clams Canino"
wrote:

Insure it for liability only and accept your own risks in this world.

When Nobby wrote this, I became immediately interested in this and did
some asking around with some people I know in the insurance business.

Apparently, even liability insurance is going to become hard to get.
The complete lack of common sense in the small boating world is
getting to them. For example, yesterday, I was talking with a DCR cop
before I launched (safety inspection of the boat) up at Lake
Chargogagoggmanchaugagoggchabungamungagogg, he said that him and his
partner wrote eleven tickets in 2 hours for everything from no PFDs to
overloaded boats with no PFDs, no fire extinguishers, children w/o
PFDs, etc. He wrote one pontoon boat up with 12 people on board with
open containers and the driver was .97 on the BA.

I don't know this for a fact you understand - that's just what I was
told - but companies have been taking a beating on boat insurance to
the point where it's not profitable anymore. I know with my Ranger,
which has a total replacement policy, boat, motor, trailer and gear at
a stated value, when I installed the new E-TEC 200, I insured it for
full replacement value of $17,000 - my insurance doubled. I didn't
change the value of the boat or trailer - just the engine.

I have never had a claim - ever - over 25 years with the same company
and they doubled my insurance premium. When I checked with two other
companies, I was surprised to learn they don't write stated value
replacement policies anymore and as to value, they will only write a
depreciated value - meaning that the lowest value even if the boat is
perfect and well maintained.

It's only going to get worse.

I must be very lucky. My current insurance runs $336/year for $26,500
limit
on the boat and trailer.

Does that mean that the boat is insured for $26,500? As in if
something happened to the boat, you would get $26,500?

I've got to call and have them adjust the limit
downwards to the current market value, which I'm guessing is in the $15K
range.

Where to get an estimate of current fair market value??

NADA is what I understand insurance companies use, but they will also
use BUC and one other I can't remember at the moment - what ever shows
the greatest depreciated value.

If you are only paying $336 for $26,500, I'd leave it alone. It's
going to cost you more to replace it.

Yacht policies are written for an agreed value. A major difference from
Statefarm writing a policy on a boat.

On Mon, 28 Aug 2006 00:10:56 GMT, Shortwave Sportfishing
wrote:

Everytime I hear that story, I smile.

And it's so true.

Not for me, I've always had difficulty learing to play the guitar.

:-)

"Calif Bill" wrote in message
ink.net...

"Shortwave Sportfishing" wrote in message
...
On Sun, 27 Aug 2006 07:57:16 -0400, JohnH wrote:

On Sun, 27 Aug 2006 11:50:32 GMT, Shortwave Sportfishing
wrote:

On Sun, 27 Aug 2006 10:26:27 GMT, "Clams Canino"
wrote:

Insure it for liability only and accept your own risks in this world.

When Nobby wrote this, I became immediately interested in this and did
some asking around with some people I know in the insurance business.

Apparently, even liability insurance is going to become hard to get.
The complete lack of common sense in the small boating world is
getting to them. For example, yesterday, I was talking with a DCR cop
before I launched (safety inspection of the boat) up at Lake
Chargogagoggmanchaugagoggchabungamungagogg, he said that him and his
partner wrote eleven tickets in 2 hours for everything from no PFDs to
overloaded boats with no PFDs, no fire extinguishers, children w/o
PFDs, etc. He wrote one pontoon boat up with 12 people on board with
open containers and the driver was .97 on the BA.

I don't know this for a fact you understand - that's just what I was
told - but companies have been taking a beating on boat insurance to
the point where it's not profitable anymore. I know with my Ranger,
which has a total replacement policy, boat, motor, trailer and gear at
a stated value, when I installed the new E-TEC 200, I insured it for
full replacement value of $17,000 - my insurance doubled. I didn't
change the value of the boat or trailer - just the engine.

I have never had a claim - ever - over 25 years with the same company
and they doubled my insurance premium. When I checked with two other
companies, I was surprised to learn they don't write stated value
replacement policies anymore and as to value, they will only write a
depreciated value - meaning that the lowest value even if the boat is
perfect and well maintained.

It's only going to get worse.

I must be very lucky. My current insurance runs $336/year for $26,500
limit
on the boat and trailer.

Does that mean that the boat is insured for $26,500? As in if
something happened to the boat, you would get $26,500?

I've got to call and have them adjust the limit
downwards to the current market value, which I'm guessing is in the $15K
range.

Where to get an estimate of current fair market value??

NADA is what I understand insurance companies use, but they will also
use BUC and one other I can't remember at the moment - what ever shows
the greatest depreciated value.

If you are only paying $336 for $26,500, I'd leave it alone. It's
going to cost you more to replace it.

Yacht policies are written for an agreed value. A major difference from
Statefarm writing a policy on a boat.


Actually you can get 'agreed to' policies from insurance companies not know
for their marine policies. Ours is with Westfield Insurance who also writes
our home, cars and umbrella.

JohnH wrote:
On 27 Aug 2006 13:05:45 -0700, "basskisser" wrote:


JohnH wrote:
On 27 Aug 2006 10:47:03 -0700, "basskisser" wrote:


JohnH wrote:
On 27 Aug 2006 09:12:34 -0700, "basskisser" wrote:


NOYB wrote:
"Don White" wrote in message
...

Think small

No thanks. Thinking small is for the unmotivated in life.

You think that because someone has a boat that they really like,
although it may be smaller than yours is "unmotivated"? Do you think
that just because someone isn't financially overextended is
"unmotivated"? I think that people who overextend just for appearances
are fools.

bk, do you think that NOYB was trying to be controversial in his statement?
Maybe he was just saying how *he* feels about life, and not passing any
judgements on others.

Why the attacks?

It's a nice Sunday...chill out.
--
No, John, he certainly was, and always has, passed judgements on
others.

I'm discussing only the post you responded to, not the past few years.

I'm surprised that you'd take a philosophical comment like, "Thinking small
is for the unmotivated in life" as a personal attack or the passing of
judgement on you.
--
No, I didn't think he was passing judgement on me. He was, however,
passing judgement on Don. As I said before, that's all he does here is
pass judgement on others.

OK, you stated your opinion. My opinion is different. In either case,
they're both opinions.

NOYB has talked of his practice, his house, his boat, his insurance, his
fishing, his finances, and his politics, among other things. None of that
is 'passing judgement', so to say that's *all* he does here wouldn't be
quite truthful, would it?

It would be darned close. Take a look. You'll see that almost all of
his posts, whether he's talking about any of the above or not, end up
with him passing judgement on someone.