sterlingmossy
Recycles dryer sheets
I have just retired (54) and am spending 51% of my time in Florida. I am thinking about getting a boat (stinkpot) to run around in with the family. Does anybody have a point of view about what % of your Net Worth you use to calculate how much you will spend on a "toy".
Here are some of the thoughts that are running through my head:
- Every $ of net worth spent on toys means less income BUT
- Say I have 30 active years and I spend time haveing fun during those active years It is worth spending money on things that can enable fun experiences.
- The cost of any boat is not the outlay but the cost to buy, own minus what you get back at the end amortized over the time of ownership, so maybe that is a better number to look at.
- Nobody should ever actually calculate the cost of owning a boat
Overthinking much!! Help appreciated.
PS Interesting article I just found for cars https://www.financialsamurai.com/net-worth-rule-for-car-buying-guideline/
Here are some of the thoughts that are running through my head:
- Every $ of net worth spent on toys means less income BUT
- Say I have 30 active years and I spend time haveing fun during those active years It is worth spending money on things that can enable fun experiences.
- The cost of any boat is not the outlay but the cost to buy, own minus what you get back at the end amortized over the time of ownership, so maybe that is a better number to look at.
- Nobody should ever actually calculate the cost of owning a boat
Overthinking much!! Help appreciated.
PS Interesting article I just found for cars https://www.financialsamurai.com/net-worth-rule-for-car-buying-guideline/
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