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Old     (dakota4ce)      Join Date: Oct 2015       01-16-2018, 8:43 PM Reply   
Quote:
Originally Posted by 501s View Post
My view exactly, well said!!!



What's the point of a $100k boat and million dollar home and kids if you are too busy to enjoy it. Balance is the key. I'm 41 and have an X30 I paid cash for. Last summer I got caught up in the hype of another new boat and almost wasted another $80k to get into a 2 year newer G23. We decided to walk away and it was the best decision I ever made. Boats are awesome, but the new boats all topping $100k + are simply not worth the price in my eyes, and I own one.



As people get to the end stages of life, no one ever says "I wish I spent more time away from my family at work". Always keep that in mind.


Right on man. I am 43 and this reality has descended upon me in the last couple years. I fear I have already blown some opportunities like I mention, but the philosophy is shifting.
Old     (davesetter)      Join Date: Jan 2014       01-18-2018, 2:30 PM Reply   
Big money in selling grass! Sod I mean haha!
Old     (BCPMike0663)      Join Date: Apr 2010       02-10-2018, 4:05 PM Reply   
So I wanted of finish up on the thread. So after 45 years we sold our family business to ADT. In the last 4 months, with help from key contributors, I was able to turn the business around. We worked 6-7 days a week up to 16 hour days. It was the toughest thing I have been through in my in life. At the end of the day we were able to sell the company to a company that will first and foremost give our employees long term stability and a chance for growth. In our current position that was something that we were not going to be able to provide. It feels so good to be free of the burden. I gave up the opportunity of being super wealthy to assure our employees the opportunity of long term success and to personally give up having to work 70 plus hours a week. May be in 10 years I will look back at it and think it was a major mistake but for right now it feels damn good. And I have spent more time with my kids in the past 10 days since the close than I have pretty much in the prior 4 months.

I have other opportunities in life and I won’t be starving any time soon but money ain’t everything. Try to find something you have a passion for and pursue it. My next opportunity is basically starting from scratch but I am starting with the right team and a group of people I want to work with.

Look for locks.com in the near future.
Old     (bmartin)      Join Date: Jan 2007       02-10-2018, 9:49 PM Reply   
A lot of good advice. I still do not own a 100K+ boat but my ride is extravagant when compared to how most people in the world live. Buy a boat you can easily afford, enjoy it and as you save more money and income grows, trade up. I could have owned nicer boats sooner but think it is crazy to take on significant debt on toys that depreciate like boats.

Here is how it played out for me and I have had a lot of good times on all the boats I have owned.

1st boat: jon boat
2nd boat: 10 year old I/O 4 cyl
3rd boat: 5 year old I/O 6 cyl - at least it had a tower
4th boat: 5 year old 20' Centurion
5th boat: 5 year old 22' Centurion
6th boat: 3 year old Moomba Mojo
Old     (Jakeanderson13)      Join Date: Jan 2018       01-01-2019, 10:44 PM Reply   
To follow up on this thread I am a sophomore now in highschool and am thinking of business school still and specifically majoring in finance and mis and take a couple more classes in collage to get accounting too since accounting and finance are very similar, mise well ask again if there’s any people making 150k plus a year and would like to share their occupation and college/major they did. Any tips? Thanks! (Only a sophomore still got time!)
Old     (wombat2wombat)      Join Date: Sep 2018       01-02-2019, 4:09 AM Reply   
Quote:
Originally Posted by Jakeanderson13 View Post
To follow up on this thread I am a sophomore now in highschool and am thinking of business school still and specifically majoring in finance and mis and take a couple more classes in collage to get accounting too since accounting and finance are very similar, mise well ask again if there’s any people making 150k plus a year and would like to share their occupation and college/major they did. Any tips? Thanks! (Only a sophomore still got time!)
Skipped college, went into the trades, 20 years later a project manager, with bonuses I’m around 175 to 200k a year. Normally work 45 to 50 hours a week but there are crunch times and a couple weekends here and there. I have buddies in sales for the trades, those asses are making 300 to 400 a year. Sales is where the moneys at.
Old     (DatTexasBoy)      Join Date: Aug 2012       01-02-2019, 6:27 AM Reply   
I'm 41 and have zero college to speak of. I started out on the back of a trash truck and worked my way into management and never stopped hustling from there. I have been in Oilfield Sales/Management for the last 12 years and have multiple side hustles that I do to help fund my habits (Boats and Golf). You just have to want it bad enough. My one piece of advise is, never be afraid to get to know new people!!! Networking is key, at some point you will need to know a few people in the right positions.


I made terrible grades in High School and my one semester of College. However, i found that real world work and experience made much more sense to me.
Old     (whiteflashwatersports1)      Join Date: Dec 2012       01-02-2019, 9:07 AM Reply   
Safety Engineer - Over 175 K no side hustles, normal work hours 35-40 a week 6 weeks paid vacation 2 weeks paid personal days, 14 paid holidays and I got to go to college and party for 4 years - College is where it is at I had "to work my way up" but started pretty near the top so have been high earner my whole career
Old     (scotthons)      Join Date: Mar 2010       01-02-2019, 2:49 PM Reply   
Most days I don't see anyone other than myself and family wakeboarding. Most people on our lake either surf or tube. To each their own and I don't get upset at people surfing or tubing or doing whatever as long as they are respectful. I personally do not own a surf board and do not have any desire to get one anytime soon. I tried it once and it just wasn't for me.
Old     (scotthons)      Join Date: Mar 2010       01-02-2019, 2:51 PM Reply   
Ooops! Not sure why my last post ended up in this thread. Please disregard.
Old     (Jakeanderson13)      Join Date: Jan 2018       01-02-2019, 5:39 PM Reply   
Wombat check private message
Old     (skiboarder)      Join Date: Oct 2006       01-03-2019, 11:21 AM Reply   
Wakeboarding is a lifestyle for me and has been for a long time. Based on my job and income a new 2019 23LSV probably doesn't make much sense, but it is our thing. We don't really have time for other hobbies and spending money elsewhere. That, and I have had a boat payment for 21 years (you read that right)--so my payments are tiny.

I think it is easy to say that the new $100K boats aren't worth it, but for me they are. I'm 38 and still ride aggressively. If I had to slide back into a late 2000s v-drive, I will be back out at 85ft and 25mph. I currently ride 75ft and 22mph and the longer transitions have extended my riding by years--maybe decades. The new boats are a lot easier to drive and a lot easier on the body.
Old     (wombat2wombat)      Join Date: Sep 2018       01-03-2019, 2:18 PM Reply   
Quote:
Originally Posted by skiboarder View Post
Wakeboarding is a lifestyle for me and has been for a long time. Based on my job and income a new 2019 23LSV probably doesn't make much sense, but it is our thing. We don't really have time for other hobbies and spending money elsewhere. That, and I have had a boat payment for 21 years (you read that right)--so my payments are tiny.

I think it is easy to say that the new $100K boats aren't worth it, but for me they are. I'm 38 and still ride aggressively. If I had to slide back into a late 2000s v-drive, I will be back out at 85ft and 25mph. I currently ride 75ft and 22mph and the longer transitions have extended my riding by years--maybe decades. The new boats are a lot easier to drive and a lot easier on the body.
I've always looked at my pyts as a lease on my fun. I could be so much further ahead on paying off my house & what not without my boat pyt but I can work till I die, tomorrow isn't promised so I wanted to have fun with my family while they still wanted to have fun with me.
Old     (Jakeanderson13)      Join Date: Jan 2018       01-04-2019, 11:39 AM Reply   
Check private message wombat
Old     (wombat2wombat)      Join Date: Sep 2018       01-04-2019, 12:56 PM Reply   
Quote:
Originally Posted by Jakeanderson13 View Post
Check private message wombat
I did & responded but then it shows nothing in my sent folder so I don't know if you're getting them or not?
Old     (BurnMac42)      Join Date: May 2015       01-16-2019, 11:10 AM Reply   
I think another valid piece of info is WHERE is everyone making the six figure jobs. $175k in Cali isn't equivalent in QOL as it is in the mid-west.

Anyway, my boat wasn't $100k but it is a 2017 so not the cheapest..I'm 35 now and have been averaging $150-175k the last few years. I'll be on point to make close to if not barely cross $200k this year. No side gigs, but right now ain't a bad time to be a pilot....My undergrad is in Management/Marketing and I have an MBA which I'm not currently using at all haha\

Look very closely at a few of the above posts, I have multiple friends who either skipped or waited on college and went into a trade and are doing VERY well for themselves. The hard part as a younger kid in the trades is "never pass up an opportunity to shut the hell up"...listen to what your mentors tell you (even if they are old, crusty hard asses that only yell), become the best damn tradesman you can, get some business sense in you, start your own company, profit...

There might be a few sub-steps that you will have to do along the way though ;-)

Edit: Didn't take my own dumb advice...I live in Ohio so $175-200k ain't a bad QOL.....

Keep in mind though too, there are a lot of people out there who do stupid (mis-manage their money) with a ton of 0's on the end so just because you make mid-six figures doesn't necessarily mean a $100k boat is a good call...it all depends on your overall financial goals/life...

Last edited by BurnMac42; 01-16-2019 at 11:16 AM.
Old     (joeshmoe)      Join Date: Jan 2003       01-16-2019, 8:02 PM Reply   
Quote:
Originally Posted by whiteflashwatersports1 View Post
Safety Engineer - Over 175 K no side hustles, normal work hours 35-40 a week 6 weeks paid vacation 2 weeks paid personal days, 14 paid holidays and I got to go to college and party for 4 years - College is where it is at I had "to work my way up" but started pretty near the top so have been high earner my whole career
Winner!, Winner!, Winner!, 6 figure income for 40 hours of work, and six weeks vacation, how can you beet that? You can actually have a life and a boat! The other reason you go into engineering is because if you go into engineering, you Can become a Doctor, Lawyer, or a teacher, but the converse is Not true, if you go into pre-med, pre-law, or education, you will Never be an engineer.
There are many High Schools across America that are teaching engineering today.
Next, would be to get into the Trades and own your own business where you have a few hard working employees, you could easily make 200k a year.
Old     (BurnMac42)      Join Date: May 2015       01-17-2019, 7:12 AM Reply   
Quote:
Originally Posted by joeshmoe View Post
Winner!, Winner!, Winner!, 6 figure income for 40 hours of work, and six weeks vacation, how can you beet that? You can actually have a life and a boat! The other reason you go into engineering is because if you go into engineering, you Can become a Doctor, Lawyer, or a teacher, but the converse is Not true, if you go into pre-med, pre-law, or education, you will Never be an engineer.
There are many High Schools across America that are teaching engineering today.
Next, would be to get into the Trades and own your own business where you have a few hard working employees, you could easily make 200k a year.
I know lots of airline Captains making $300k+ a year working 7 days a MONTH on average.... If you want a counter example to "beat" that Granted that ain't from day one, you have to build seniority but still...they have plenty of time off to enjoy their toys too
Old     (joeshmoe)      Join Date: Jan 2003       01-20-2019, 6:30 AM Reply   
Quote:
Originally Posted by BurnMac42 View Post
I know lots of airline Captains making $300k+ a year working 7 days a MONTH on average.... If you want a counter example to "beat" that Granted that ain't from day one, you have to build seniority but still...they have plenty of time off to enjoy their toys too
Not saying anyone is a loser, just saying anyone who makes close to 200k and only works 40 hours or less is winning! I have had quite a few engineers on my boat and they have boats too. I have invited Doctors to go out on my boat, but I guess they never seem to have the time. I also wakeboard around million dollar houses every week with their 100k wakeboard boats right on the water that are Never being used! I guess it's just for show, just like Shaquille O'Neal's house, which has a boat with a wakeboard tower on it that's on lake Butler , do you think Shak ever wakeboarded?
Old     (dakota4ce)      Join Date: Oct 2015       01-20-2019, 8:23 AM Reply   
I wonder when the term “6 figures” needs to be revised. 100k isn’t remotely close to as valuable as it was 15 years ago. Shoot for a regular family in many parts of the country that is barely enough to survive!
Old     (buffalow)      Join Date: Apr 2002       01-21-2019, 9:03 AM Reply   
I just went back through and read these posts. As I ponder what I read, I think how that fits in my life today. As a multi-business owner and multi-property owner, I can try to sum up the above email as a patch to success:

Hard Work in everything thing you do (work/fun/relationships)
Perseverance - Work that hard on those things for a long time
Live within your means

Generally speaking, none of the group here that is successful (financially and happiness) did it easily or quickly!

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