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
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