Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
How many here have a boat?
Old 03-04-2007, 11:15 AM   #1
Recycles dryer sheets
 
Join Date: Apr 2005
Posts: 58
How many here have a boat?

I'm in the process of buying a boat and got to wondering how many here have one. For certain a boat is a money drain -- and the bigger the boat, the bigger the hole. It's not a question of justifying the purchase -- the enjoyment of fishing, crabbing taking the grandkids out for shelling, a sunset cruise...is priceless.

But, it is not an insignificant expense. Even buying an older (used) boat to lessen the effect of depreciation. The purchase will not delay my entry in early retirement.

I have some expensive hobbies and this is one. I recently gave up my salt water tanks, primarily because of the commitment required and the impact of being able to travel for long periods of time. While I miss the beauty of the tanks, I'll admit having $3,000+ per year for savings is a great feeling.

Trying to be objective about owning a boat -- financially it doesn't make sense. But we make these choices all of the time. I've had a boat of some sort most of my life -- its part of who I am.

So for the boaters out there -- how do you approach boat ownership?

dwk
__________________

__________________
dwk is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: How many here have a boat?
Old 03-04-2007, 11:35 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
Re: How many here have a boat?

We bought a boat (small one), then sold it.

PITA to tow and launch. If we had the inclination and extra bucks, we would get another one, but only if we had a slip.
__________________

__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 11:36 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: How many here have a boat?

Does a canoe count?
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 12:05 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
Re: How many here have a boat?

Three kayaks! Had a couple more but they went to older son & his wife.
__________________
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 01:17 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
Re: How many here have a boat?

I owned a 22ft sailboat about 15 years ago. I bought it used and sold it for about the same amount that I purchased it. I kept it in a slip so I had those fees, plus insurance and upkeep for the 3 years I owned it.

I found that I could not use it enough to justify owning it. Of course I was working at the time and the boat was docked about 25 miles from where I lived (not convenient for a quick trip).


My opinion is: Unless you are absolutely sure that you will use it frequently... consider renting a boat instead. Or identify a friend that has a boat and pay for the fuel. My expereince was that boaters are often looking for people to share in the boating experience. 8)

__________________
chinaco is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 01:30 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,644
Re: How many here have a boat?

I love having access to a boat but hated owning one (23 foot Rinker cuddy cab). It was just more worry and hassle than it was worth. I wish I had a friend with one convenient to my river house -- I do like to head out trolling early in the morning when the Rock Fish are running.

It will be a lot easier if your are mechanically inclined and like doing the upkeep.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is online now   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 01:37 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: How many here have a boat?

I plan on buying a $200 used jon boat or canoe since I live on a lake.

I used to want to buy a sailboat. For now, I'm putting that off at least until FIRE. I've never really been on a sailboat and I don't know how to sail, so I'd have to take sailing lessons and charter a boat a couple times at least before I decide to buy one.

Or find a friend that needs a hand with his sailboat.

Right now I know I wouldn't use it more than a few times a year due to work and kids. Maybe when I have 365 Saturdays per year I can up my "utilization estimate" by a few dozen. I'm still trying to sell DW on the benefits of owning a sailboat...

__________________
justin is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 01:58 PM   #8
Full time employment: Posting here.
 
Join Date: Mar 2005
Location: Punta Gorda, FL
Posts: 666
Re: How many here have a boat?

I have a 27' sailboat. I live about 4 blocks from the harbor so I thought I'd give boat ownership a try. I joined a golf club so I don't get out much anymore. The slip fees and insurance bills keep coming though.

The problem is it's no fun for me to go out by myself so you have to find others who also have the time. The wife will go out but she goes to sleep once we pull out of the slip and after about an hour she's ready to go back in.

And I still want a bigger boat.
__________________
dm is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 03:02 PM   #9
Full time employment: Posting here.
DRiP Guy's Avatar
 
Join Date: Nov 2006
Posts: 546
Re: How many here have a boat?

Thank goodness this is one bug that never really bit me hard. I have always had friends with boats, so for just bringing the cooler, rods, bait, helping with fuel and helping do scrub downs, I have always had all the fishing and pleasure boating I can stand. Even did the Bimini big tuna tourney as angler, and bummed from the Tortugas up to Stuart... after 18 years in Florida, though, I pretty much don't feel the urge any more.

I used to like sea kayaking... but that can be pretty cheap.
__________________
DRiP Guy is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 03:53 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,035
Re: How many here have a boat?

Soon to be ex boat owner .The maintenance was brutal .I still have a kayak and a canoe .
I'd rather spend my money on travel than boating .
__________________
Moemg is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 03:57 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Ed_The_Gypsy's Avatar
 
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,293
Re: How many here have a boat?

I have a picture of a boat. Every once in a while I look at it and burn a $10 bill.
__________________
my bumpersticker:
"I am not in a hurry.
I am retired.
And I don't care how big your truck is."
Ed_The_Gypsy is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 06:44 PM   #12
Recycles dryer sheets
Budman's Avatar
 
Join Date: Feb 2007
Posts: 120
Re: How many here have a boat?

Boating is a progressive disease. After 20 years in boating I now own my 5th boat. I have a 47 Bayliner Pilothouse. Its beautiful and after I retire, DW and I intend to circumnavigate the Great Loop in 2008-2009. And yes, it is maintenance hungry, so I have to allow for that expense in my budget.
__________________
My beer has a hole in it!
Budman is online now   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 06:54 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
Re: How many here have a boat?

Moving to Lake Ponchartrain in 1979 - we had a flatboat and a runabout that stayed on the trailer never running anywhere. After a couple years got rid of them. Rode in my neighbors boats from then on - waaaaay cheaper.

heh heh heh heh heh heh - also had friends who sailed the Gulf - got caught helping with maintenance a few times - that cured my brief sailing ambitions. Love sailing - on someone else's boat.
__________________
unclemick is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 07:40 PM   #14
Recycles dryer sheets
bearkeley's Avatar
 
Join Date: Aug 2005
Posts: 170
Re: How many here have a boat?

2004 24 ft Albemarle Center Console that we got used (1 yr old) - hasn't depreciated, so got a good deal on it. We use it 9 months out of the year and we're not even retired yet, so we're definitely getting our money's worth.

Last Fall, however, we decided to also buy a 13ft 1963 Whaler for $500 from a neighbor's 14 year old kid. Got a brand new 2yr old Honda 4stroke, approx $600 on paint, rub rails, brand new whaler stickers and A LOT of hours sanding and painting and sanding and painting and sanding.... in short...wouldn't sell this boat for double the amount of money we put into it!!!

It was really neat (definitely not when we were putting on the rub rails!) to be able to completely rebuild an old boat and have lots of strangers admire your hard work. We get more comments about our little 13ft boat than the fancy expensive boat....not to mention that this boat is a lot of FUN! Our plan is to keep the whaler and sell the Albemarle when we retire. The smaller boat can easily be towed and if something breaks, we can fix it ourselves! ;-)

__________________
bearkeley is offline   Reply With Quote
Re: How many here have a boat?
Old 03-04-2007, 11:00 PM   #15
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,929
Re: How many here have a boat?

I had a couple of GFs whose father's owned boats. That swore me off boats and their costs. We did have a good time but it was expensive. Put me in the No column.
__________________
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Re: How many here have a boat?
Old 03-05-2007, 06:41 AM   #16
Recycles dryer sheets
boots's Avatar
 
Join Date: Dec 2003
Posts: 55
Re: How many here have a boat?

Sail out of Willsboro Bay NY on Lake Champlain

http://www.trip.net/~snichols/phoeni...nix%20T-30.JPG

__________________
Money makes money and the money that makes money makes more money
-Benjamin Franklin-
boots is offline   Reply With Quote
Re: How many here have a boat?
Old 03-05-2007, 07:19 AM   #17
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,456
Re: How many here have a boat?

Ah, yes, the boating life! We've owned boats for years, starting with a Hobie cat, a couple of creek boats, a trailer sailor, and a 28 ft sailboat we lived aboard in the Bahamas for a summer in 2003. We sold that boat last year, and the financial reality is tough to hide.

We are trying really hard not to look at boats until we meet our FIRE goals (when my DH turns 50, in 5 years). We want a trawler, and I spend dangerous time looking at boats on yachtworld that would be perfect. Once he isn't working, he will have time to devote to maintenance, upkeep, and time to play on it, even though I'll still be working (for a few more years after he retires).

I think you should always go with less boat than you think you need--if we had put more money into the 28' boat, we probably couldn't have afforded to quit working and go sailing, which started us on the FIRE dream.

Hold out as long as possible, then dive in--even if it is a money pit, try to pack in lots of fun between those two happy days--they day you buy it and the day you sell it! Best of luck!

Sarah
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Re: How many here have a boat?
Old 03-05-2007, 08:29 AM   #18
Thinks s/he gets paid by the post
maddythebeagle's Avatar
 
Join Date: Jun 2005
Posts: 2,450
Re: How many here have a boat?

I have several lakes around me....bought a used john boat to get out fishing.....not sure if I can justify more boat unless I am fully FIRED and have plenty of time to go out several times a week...

I like everyone else's advice...find a friend with a boat
__________________
- Hurry! to the cliffs of insanity!
maddythebeagle is offline   Reply With Quote
Re: How many here have a boat?
Old 03-05-2007, 08:56 AM   #19
Recycles dryer sheets
Jeb-NY's Avatar
 
Join Date: Nov 2005
Location: North Coast of NY
Posts: 269
Re: How many here have a boat?

I down sized from a 17.5 foot canoe to a 12 foot when I retired. Trying to keep costs in line.

Jeb
__________________
Jeb-NY is offline   Reply With Quote
Re: How many here have a boat?
Old 03-05-2007, 10:28 AM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,198
Re: How many here have a boat?

I feel the same way about big boats as I do about dogs. Love 'em, but can't justify the hassle of owning one.

I just pet other people's dogs and boats.
__________________

__________________
Al
TromboneAl is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Boat Clubs vs owning a Boat? wallygator69 Other topics 1 02-04-2007 11:49 AM
Retire or Hiatus on Cruising boat changes everything ! chuck711 Life after FIRE 17 11-29-2006 02:00 PM
Living on a boat Gonzo Life after FIRE 31 04-27-2006 09:08 PM
living on a boat claire Other topics 66 03-23-2006 05:25 PM

 

 
All times are GMT -6. The time now is 10:13 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.