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Old     (sidekicknicholas)      Join Date: Mar 2007       03-30-2015, 7:34 AM Reply   
I planned on buying 50% of my old boat back from my brother since we live down the street from each other again, but he is being a bit of a bitch about it.... he is trying to charge me MORE than 50% of what I sold it to him for, 4 years ago.... somehow the boat has appreciated in his mind (maybe I should buy in since its going up in value).


.... anyways, the other option I've looked into is a 2004 Wakesetter LSV. 300 hours, completely loaded, 1 owner - an old couple down the street, the husband passed away so the wife is selling the boat and the house to move closer to her family. Boat is insanely perfect shape for its age. She told me $30k, my guess is I can get it down slightly from there, but lets assume $30k. I'm very anal about keeping up on maintenance and given the boat's current shape, I don't see a reason why it wouldn't make it another 10-15 years without too much trouble


The short version of my current finances is this:
* After 100% of my bills are paid (401ks/cars/house/cell phones/insurance, etc etc etc,even including things like Netflix) my wife and I have $3,000/mo. left to live on. We currently live on $250/wk. for food, gas, misc living items and the remaining $2000 just gets dumped into our savings and every 6-months gets moved to longer term investments or put into updates on the house.


So, since I'm back living on the lake.... could I / should I spring for the LSV?! My concern is if I , in like 4/5 years we plan on popping out the first kid, so if I wait it may be a long time til I can swing it again.
Old     (jonblarc7)      Join Date: Jul 2006       03-30-2015, 7:45 AM Reply   
I would do it, sounds like you got a pretty good handle on your finances. The wife and I are popping out our first kid in September so I'll let you know but I don't see any reason why I would get rid of my boat. I just make sure I don't have any credit cards, I've been there and climbed out of that hole and won't do it again.
Old     (psudy)      Join Date: Dec 2003       03-30-2015, 7:47 AM Reply   
Sometimes you just have to say "what the F&*(.
Old     (sidekicknicholas)      Join Date: Mar 2007       03-30-2015, 7:48 AM Reply   
Quote:
I just make sure I don't have any credit cards,
I do have two, my wife is on one of mine.... we only use them for points / rewards sake... have never carried a balance (knock on wood).


Quote:
sounds like you got a pretty good handle on your finances
My wife's old job was for a financial planning company, so she was pretty good at keeping us in check.


.... follow-up question on if we did spring for the bigger / better boat, how long do people normally finance boats? I've only ever paid cash for them in the past (since they've been cheaper).... I assume its a bit different than cars.
Old     (Redheadd)      Join Date: Apr 2014       03-30-2015, 7:59 AM Reply   
Buy that lsv! Great deal solid boat,big ass boat!pay $500 a month on it it will be paid off quick. But I think banks will only finance boats that are 10years old or newer. I could be wrong though. If you can take a loan from yourself. Via saving equity or what not.
Old     (brycejb328)      Join Date: Aug 2009       03-30-2015, 8:22 AM Reply   
It comes down to what you are comfortable with, $2k in disposable income, sure seems like a no brainer (to me). After all, I would be pretty pissed at myself if I felt I shouldn't buy a decent boat and I was living on the water.

Anyone who has been on WW for more than a month knows you analyze the **** out of stuff! Go buy the boat!
Old     (sidekicknicholas)      Join Date: Mar 2007       03-30-2015, 8:25 AM Reply   
Quote:
Anyone who has been on WW for more than a month knows you analyze the **** out of stuff! Go buy the boat!
Its a god damn curse.
Old     (boardjnky4)      Join Date: Dec 2011       03-30-2015, 8:26 AM Reply   
yeah man, you can afford it.
Old     (brycejb328)      Join Date: Aug 2009       03-30-2015, 8:34 AM Reply   
I'd "stroke a check" (axis A20 guy would) for it tonight, if I was you!

But seriously, finance it, don't succumb to the "must pay cash" cult here on WW.
Old     (jonblarc7)      Join Date: Jul 2006       03-30-2015, 8:40 AM Reply   
My 2006 Supra 24V I took out 10 years through State farm insurance. But I pay every thing off early, so I always pay more then I have to. So if its' a hard month and we get hit with a bunch of big bills. I can always bump back my boat payment by a couple hundred dollars.
Old     (Redheadd)      Join Date: Apr 2014       03-30-2015, 9:05 AM Reply   
Stroke a check!
Old     (ottog1979)      Join Date: Apr 2007       03-30-2015, 9:31 AM Reply   
Nick, the curse is that you think there's one right answer and that it's somewhere out there. I'm also analysis prone. The wife always asks me "what do you WANT to do". That's usually the right answer for me.
Old     (DealsGapCobra)      Join Date: May 2010       03-30-2015, 11:16 AM Reply   
1st - STAY AWAY FROM THE DEAL WITH YOUR BROTHER!!!

2nd - I am sure you can 'afford' the payments but I am one of the 'write a check' guys when it comes to toys. I have had payments...they suck! I would bum as many rides as you can this year from your brother and pile up some cash for next year.

Last edited by DealsGapCobra; 03-30-2015 at 11:19 AM.
Old     (sidekicknicholas)      Join Date: Mar 2007       03-30-2015, 11:18 AM Reply   
Quote:
1st - STAY AWAY FROM THE DEAL WITH YOUR BROTHER!!!
We owned the boat together for about 6 years before I moved away... in that time, no issues. I have no problem as long as he comes down to reality on what I'm going to pay him to get back in. He wants $8500 for 50%, I told him $7000, because that is what he paid to buy me out a few years ago.

that was my thought too, mooch as long as possible but my guess is he can get it sold before June if he prices It around $15k

Last edited by sidekicknicholas; 03-30-2015 at 11:26 AM.
Old     (williamburell)      Join Date: Sep 2011       03-30-2015, 1:05 PM Reply   
Buy it. Once you have a kid your life is over anyways. jk

But seriously say you are planning on having a kid in 5 years......finance the boat for 5 years.

if you put 10k down at 6.5% you are talking a 390 dollar payment for 5 years. Pay extra and get done faster

If you put 5k down you are talking 490

My insurance is like 30 bucks a month, storage at 40, and gas=rape.

Buy the boat, enjoy life, and stop worrying. If you were putting away 1000/mo it would be an issue.....not 3k. Just don't drag it out on a 10 year loan or some crap where you never even touch paying it down.
Old     (davez71)      Join Date: Oct 2007       03-30-2015, 1:48 PM Reply   
Quote:
Originally Posted by Redheadd View Post
Stroke a check!
He should probably send her certified check first to show he means business...

After that STROKE IT!!!

If it comes with a depth finder you know that you have a great deal.
Old     (illini88)      Join Date: Oct 2007       03-30-2015, 2:50 PM Reply   
the LSV is a big boat. Will your lift handle that increase in size?
Old     (boardman74)      Join Date: Jul 2012       03-30-2015, 3:18 PM Reply   
I'd only buy it if you plan to "stroke a check for it" and run it in the famous "spillway"!!

Seriously though, if you want it and can afford it go for it.
Old     (CRS_mi)      Join Date: Jul 2011       03-30-2015, 3:32 PM Reply   
Your finances are way better than mine and I have 2 kids and a boat that costs more than you're talking about spending with no regrets on buying it from me or the wife.
Old     (hco)      Join Date: Jun 2006       03-30-2015, 6:52 PM Reply   
Buy that boat! If anything does come up, the boat can be re-sold for almost what you bought it for. Any hit you take will be minimal compared to buying a perfect & mint used boat. Lightly used, loaded, and mint condition used boats don't appear all that often. Jump on it!
Old     (MattieK27)      Join Date: Mar 2010       03-30-2015, 7:32 PM Reply   
You have 2k a month in extra cash after a mortgage, car payments, living expenses etc, and you cannot figure out if you can afford a 30k boat? And you are willing to put 7k down? Seriously, is this a joke?

I'm going to go out a limb and predict no new boat and usage of your brothers 210 for the season; at which point that boat will once again be listed for sale here come fall...

Sorry man, but you have had way too many of these threads on here without ever buying anything. Plus most of us don't have an extra 2k to play with every month, yet still manage to pay for boats that cost more than 30k. I mean its not exactly a financial leap of faith or crazy math to understand you could pay for that 30k boat in less than 3 years with a 7k down payment and payments that are less than half of your monthly "extra cash."
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Last edited by MattieK27; 03-30-2015 at 7:40 PM.
Old     (aryder)      Join Date: Apr 2012       03-30-2015, 10:00 PM Reply   
Was just in the same spot, except I'm a single earning household. I ended up picking up an 03 VLX for 25, and am having about $6k worth of work done to it as we speak. I financed $17K and payments are right around $300 for 5 years with 4.5% interest rate. I got lucky and am mooring it at a buddy's this summer so I don't have to worry about moorage - except for the trailer.

On top of the boat payment. All in all, here are the costs, so far... that are in addition to the boat itself:

Trailer Storage: $100/month
Insurance: $500/year
Personal stuff (life jackets/anchor/gear for friends to use/tubes/blanket for girlfriend/etc...): $400 so far.......

My goal is to pay it off this summer because mooring at the lake is between 250 and 350 (plus trailer) and I'd prefer not to be hit with moorage and payments... Hopefully that lends some perspective.
Old     (racer808)      Join Date: Jan 2013       03-31-2015, 5:10 AM Reply   
Give her 27k and enjoy ur new lsv!
Old     (sidekicknicholas)      Join Date: Mar 2007       03-31-2015, 6:15 AM Reply   
Quote:
I'm going to go out a limb and predict no new boat and usage of your brothers 210 for the season;
I hope I can do this without having to buy into his.... that would be the best. Then I can stash enough cash to buy something outright next year.

Quote:
Plus most of us don't have an extra 2k to play with every month
The extra money goes into savings though, its not like I just make it rain at the ****y bar on the 30th of each month. I guess maybe its just my mindset thing, but if we're not stashing away $1000-$1500+ into the bank each month, I get nervous.... but again, I'm a bit of a worrier (they call me Whiskers), and I definitely over think things.

.... the owner of the LSV is out of town for a few days, and plans to sell the boat to a dealer on the 8th.... I think I'm going to say, whatever the dealer will give you + $500 and then you don't have to deal with taking it to them and whatnot.

Last edited by sidekicknicholas; 03-31-2015 at 6:17 AM.
Old     (brycejb328)      Join Date: Aug 2009       03-31-2015, 6:57 AM Reply   
What does your wife think?

Your brothers Super sport and this 2004 lsv are definitely one of the most posted about boats on WW. My opinion, and I am not being *that* facetious when I say this, you should be looking at pontoons. By the time you actually feel like your ready to buy a boat, you will be more interested in sipping your morning coffee while putting around the lake than wake boarding. Wait until your net worth is at least into the millions and you have enough in a fund to send your kids to an ivy league college.
Old     (Redheadd)      Join Date: Apr 2014       03-31-2015, 7:13 AM Reply   
Lol you guys are getting him. He's not about that life!
Old     (MattieK27)      Join Date: Mar 2010       03-31-2015, 7:25 AM Reply   
Quote:
Originally Posted by sidekicknicholas View Post
The extra money goes into savings though, its not like I just make it rain at the ****y bar on the 30th of each month. I guess maybe its just my mindset thing, but if we're not stashing away $1000-$1500+ into the bank each month, I get nervous.... but again, I'm a bit of a worrier (they call me Whiskers), and I definitely over think things.
No one said you were wasting the money, as a matter of fact you made it quite clear in your original post that 2k gets dumped into savings. Were you not asking if you could afford the boat? The simple answer is clearly yes. Hell, finance the thing for 5 years and put the 7k down, and you still will have that $1000+ to put into savings every month.

The title of the thread asked if you could afford a 30k boat. The simple answer is yes. I think the better question is do you want to afford/pay for it. Ultimately only YOU can make that decision.

As someone who in the past attempted to buy the often "for sale" 210, maybe I am a bit jaded. But when someone talks about having 2k to put into savings after a mortgage, car payments, 401k, cost of living etc and then asks if they can afford a 30k boat, it comes off as indirect bragging or lies. If you and your wife have the ability to net jobs that make you that financially secure and the smarts to put away 2k a month, you should be able to calculate that this is well within your means.
Old     (boardjnky4)      Join Date: Dec 2011       03-31-2015, 7:35 AM Reply   
If you want a boat, then go buy a boat. If you don't want a boat, then don't buy the boat.

I agree with the others above though, you KNOW you can afford it because you just told us you have 2k/month of free cash. So what is the point of this thread? You want someone to talk you into it? You want to just keep hearing yourself talk?
Old     (sidekicknicholas)      Join Date: Mar 2007       03-31-2015, 8:16 AM Reply   
Quote:
it comes off as indirect bragging or lies.
This certainly wasn't the intent.... we're still pretty "young" and really don't want to make a stupid decision that will **** on the next 10 years of my life. As you stated, sure, we can afford it but it would effect our currently style of living with a reduction of money going to savings. Different strokes for different folks, but that scares the **** out of me because I'm comfortable with where we are, and don't want to be uncomfortable with things but have a nice big boat.

Quote:
What does your wife think?
She thinks that we cannot afford it. She has made it quite clear she wants to maintain at least $1500 going into savings with or without the boat. With the LSV, that becomes a bit more difficult.

Quote:
As someone who in the past attempted to buy the often "for sale" 210, maybe I am a bit jaded.
I'm sorry about that, but if its been in the past 4 years, that's my brother. He has it "for sale" again this year if you're still looking.... but he is as scatter brained as ever, so my guess is when the ice has pulled off, he'll want to keep it again (unless of course I have a different boat).


Quote:
You want someone to talk you into it?
I guess I am just looking for some sound advice on if it makes sense. Sure we could swing it, but should we.... it should have been titled, "should I buy XXX boat"; I know the audience here is bias to buy it, but as I mentioned, I really don't want to make a $30k mistake. I know for some of you that's a drop in the bucket compared to what your boat(s) have cost, but any purchase over like $1500 I total over-analyze and create a mess of **** in my head.
Old     (Redheadd)      Join Date: Apr 2014       03-31-2015, 8:36 AM Reply   
Dude!! WTF are you talking about?! Grab that bitch for 27k ,7k down your payments will be $400 or so on a 5-7 year loan. And if you don't use it sell it for a profit! Like I said "you ain't about that life!" How is boating ever ruin your life?! Lol my boat is the one if the best purchases I've ever made in life!
Old     (Redheadd)      Join Date: Apr 2014       03-31-2015, 8:36 AM Reply   
Mistake! Lol
Old     (sidekicknicholas)      Join Date: Mar 2007       03-31-2015, 8:50 AM Reply   
I love it too, enough so I quit college for a year to move to Florida to wakeboard .... after a destroyed ankle I came back to finish school. My body just can't handle riding 4+ days a week anymore though, and with a 9-5 its crazy how little I've gotten out in the past few years.... I'm just making excuses at this point though.

The worst part, and almost anyone from the Northern Midwest can vouch for this.... a $400/mo. payment May - September, no biggie .... October - April on the other hand sucks something fierce. Nothing like transferring money as you look out at a sheet of ice.
Old     (Redheadd)      Join Date: Apr 2014       03-31-2015, 8:56 AM Reply   
Y don't you buy your brothers boat for 15k
Old     (sidekicknicholas)      Join Date: Mar 2007       03-31-2015, 9:01 AM Reply   
Quote:
Y don't you buy your brothers boat for 15k
I would like something bigger.... the old 210's are so narrow and at 21' makes it cramped. To buy in half for a minimal investment or mooch, not so bad, but if I'm gunna spend $15k to own it outright I would just pony up and get the LSV.
Old     (Bakes)      Join Date: Mar 2010       03-31-2015, 9:01 AM Reply   
I'm not sure I can afford my completely paid for boat. It costs me a minimum of $500-600 a month in gas and what not all summer long. That's not counting maintenance and if anything were to break. That said, some of the best times of my life on the water. You won't be doing your finances any favors but you will certainly be enjoying life a little more.
Old     (jhartt3)      Join Date: Jan 2012       03-31-2015, 9:17 AM Reply   
i dont know what you're looking for out of this thread... can you afford it yes can you afford it and still put 1500 a month in savings yes. is it a smart financial decision no... is it a fun life decision yes. if you invest your 7k and the extra 500 a month you would have 45k in 5 years at 6% growth (which is uber conservative). If you buy the boat you will have around 15-20k in a non liquid asset. maybe a little more depending on the boat market.
Old     (Redheadd)      Join Date: Apr 2014       03-31-2015, 9:50 AM Reply   
Where's the damn boat! I'll buy it and make your descision easier!
Old     (sidekicknicholas)      Join Date: Mar 2007       03-31-2015, 10:08 AM Reply   
That would make my life easier.

Zip code:
54457

Google map of the boat on a lift -

Last edited by sidekicknicholas; 03-31-2015 at 10:10 AM.
Old     (ottog1979)      Join Date: Apr 2007       03-31-2015, 10:52 AM Reply   
There are no "mistakes". There's only learning. Thinking that there's a way to get though life without loss, mistakes or difficult times is an illusion. In fact, I think that trying to follow that path (a mistake-less one) would be a waste & tragedy. There is no "right way". Everyone is just trying to figure it out. Governing your life by only optimal financial decisions would certainly be a bore - you'd miss a tremendous amount of opportunity for happiness.

Owning a boat is a completely frivolous activity and doesn't make ANY sense financially, no matter the cost of a boat. That said, pretty much everyone on this website is aware of the sublime, golden moments that are worth every penny. Go forth, young Nick and figure it out for yourself. If you really, really want a boat in the back yard it just might be the right thing to do.

On my death bed, I won't give a sh*t what the balance of my bank account is. But I'll likely be thinking of priceless moments like this:
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Old     (phathom)      Join Date: Jun 2013       03-31-2015, 10:56 AM Reply   
Damn. I would love to be in your situation. I would have already been slamming the boat and getting behind it before this thread ever got posted if I were you.
I'm currently in the situation of being a single income earner with my wife and 2 kids, no debt besides mortgage and would love to be in a spot where we could buy a boat. I'm at the part where I'm throwing money into my company stocks (historically I have a 40-50% gain on these after discount) and saving up to get into a $15-20k v-drive without a boat payment.
If I had an extra $3k a month to burn, I would be into one last year.
Old     (wiscxstar)      Join Date: Mar 2002       03-31-2015, 11:06 AM Reply   
I agree with ottog1979.

My wife and I bought a $40,000.00 boat when we first got married (I was in law school and she was making about $40K a year to support us). We did not even own a house yet. There were payments, but there was also a ton of fun and memories. I wouldn't trade those for anything. We paid off the boat, have three kids now, traded in the boat, and took out a loan on a $80K boat. Is it a good monetary investment, no, but is it a good family investment, yes.

Also, remember you won't be able to wakeboard forever. Your body gets old. Ride while you can.
Old     (Uplandbird)      Join Date: Feb 2015       03-31-2015, 11:15 AM Reply   
People in much worse economic situations than you buy boats everyday.

The only question that matters is, do YOU want to spend your hard earned money creating these kind of specific memories on the water?

For some the answer is an easy Yes. Other's not so much. Only you know that answer.

Last edited by Uplandbird; 03-31-2015 at 11:16 AM. Reason: spelling
Old     (Redheadd)      Join Date: Apr 2014       03-31-2015, 11:25 AM Reply   
Just waste your life saving $$. Sounds like you're living the good life!
Old     (Redheadd)      Join Date: Apr 2014       03-31-2015, 11:27 AM Reply   
Last Friday after work! I'm bout that life!
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Old     (jmanolinsky)      Join Date: Dec 2005       03-31-2015, 11:34 AM Reply   
Nick,
I sympathize with your analysis paralysis. I get it too. I also admire you and your wife for being financially responsible. Something so few do these days. That said, it is apparent that you want to own a boat. I mean you live on the lake and enjoy the lifestyle. The boat you are considering sounds like a great opportunity. I think you should go for it. I agree that you should offer the lady something like $300-$500 more than what the dealer is offering. That will be a great price on the boat and will give you the chance to bail out without a loss if you later suffer from buyer's remorse. I don't think that you will. I do believe that you will regret passing this boat by if you let it slip through your fingers.
Old     (ottog1979)      Join Date: Apr 2007       03-31-2015, 11:36 AM Reply   
Wiscxstar - I'm still riding at 54. Started (wakeboarding) at 44. I'm not aggressively progressing but hoping I have at least 10 years of riding left. One reason my progression is slow is that I do worry about injury. I've had a few that took me out for a while (2 sprained ankles, torn hamstring). But I keep riding because it's just too much damn fun to give up and great exercise. Throw in moments like that sunset last year and it's a no-contest decision to keep riding in whatever fashion I can.
Old     (fouroheight68)      Join Date: May 2006       03-31-2015, 11:44 AM Reply   
You are like me, and experience what I call "paralysis by analysis". Think about it this way - if you get a good enough deal on anything, you can always get your money back out of it. Personally, I'd rather buy a $30k boat for $25k, use it for 3 years and get my money back out (plus some), rather than have that $25k sitting in a bank account earning .002% interest. All my toys (Harley, Boat) are paid for, and that is my mindset - I got them cheap enough that these are my "savings accounts". These kinds of toys are fairly liquid assets in a decent economy. I too am like you, 29 years old, putting 3k a month away in savings, but my other "accounts" are my toys which I can always sell if need be.
Old     (jhartt3)      Join Date: Jan 2012       03-31-2015, 12:00 PM Reply   
Quote:
Originally Posted by fouroheight68 View Post
, rather than have that $25k sitting in a bank account earning .002% interest. All my toys (Harley, Boat) are paid for, and that is my mindset - I got them cheap enough that these are my "savings accounts".
if you're putting your money into a normal savings account this is a terrible use of capital. You should compare that to the avg market returns with inflation since the boat will deflate unless you buy it with equity. which in any case will still deflate over time. so your comparison should be to 10% market returns.

All that said i'm 28 i own a boat and i save a "boat" load of my income. goal is to retire by 33 and never work another day. You can have both massive retirement accounts and an affordable wake boat.
Old     (fouroheight68)      Join Date: May 2006       03-31-2015, 12:11 PM Reply   
Quote:
Originally Posted by jhartt3 View Post
if you're putting your money into a normal savings account this is a terrible use of capital. You should compare that to the avg market returns with inflation since the boat will deflate unless you buy it with equity. which in any case will still deflate over time. so your comparison should be to 10% market returns.



All that said i'm 28 i own a boat and i save a "boat" load of my income. goal is to retire by 33 and never work another day. You can have both massive retirement accounts and an affordable wake boat.

Well obviously these assets decrease over time. That decrease however, is based on a curve. I bought my 02 elite-v for 13k. Will it decrease below that? Eventually, but not real soon. Am I advocating people "invest" their savings into depreciating assets? No. I'm saying there is residual value that you can always liquidate, and if bought right, you can profit on.

Props to you if you can actually retire at 33. You'll need 50 years of money in the bank to live on, if you can do it props to you. At 33 most haven't even reached the peak of your career though. I'd want 5-10mil in the bank to comfortably retire at 33.
Old     (jhartt3)      Join Date: Jan 2012       03-31-2015, 1:48 PM Reply   
at 5MM in the bank you could conservatively spend over 150k per year and never run out of money... maybe you spend that now but thats more than my wife and i make combined and we are putting money into savings which further lowers that number... you dont have to save once you're retired. and at 10MM you're looking at easily blowing thru 300k a year and still being set for life.
Old     (jhartt3)      Join Date: Jan 2012       03-31-2015, 1:51 PM Reply   
I used to think i needed that much money too til i actually realized what i spend annually ... not to mention the incredible drop in taxes to almost nothing at a federal level if it comes from LTCGs and QDs. and you stay in a 15% bracket.
Old     (jhartt3)      Join Date: Jan 2012       03-31-2015, 1:52 PM Reply   
but these posts are taking this way way off topic. i would look for a better deal on an older boat that will still hold its value. i have 99 VLX i bought a couple years ago 14.5k. but then that takes you right back to just buying your bro's boat.
Old     (soonerbilly)      Join Date: Jul 2013       03-31-2015, 2:03 PM Reply   
When you have kids....they will love the boat too. And i'm pretty sure when you sit around in your later years you arent going to say remember that year we put 50 grand in our savings, what a great year. BUT you could say something like remember the first summer Little Nicky did his first wake to wake 360? Those are the types of memories that we should all truly strive for. Having 10 mil in the bank is great and all, but once we are in the pine box 6 feet under does it really matter?
Old     (WLF)      Join Date: Mar 2010       03-31-2015, 2:17 PM Reply   
Although I am in the camp of paying cash, it sounds like you and your wife have pretty good heads on your shoulders. Every time I went out on a limb and purchased and expensive toy, I found that I worked harder and smarter to replenish the funds quickly that I had taken to buy it. You will probably be the same way...you only get so many beautiful summer days on a boat, & I know I've never regretted any of them, well not completely true...but there are some damn good stories!
Old     (Redheadd)      Join Date: Apr 2014       03-31-2015, 2:22 PM Reply   
Ya boarder42 is right on track!! 5-10 million and you'll be just fine!! Lmao wtf!
Old     (jhartt3)      Join Date: Jan 2012       03-31-2015, 3:26 PM Reply   
inflation adjust equity gains over time avg 7% so on 10mil you pull in 700k on avg. Take inflation for 3% this leaves you 400k left over annually. Put against historic markets you could spend 400k and your money would last forever 75% of the time if you only spend 300k of it it last forever all the time. So yeah I know maths are hard for some but its pretty simple there dude and that's all in today's dollars. And keeps up with inflation.
Old     (jhartt3)      Join Date: Jan 2012       03-31-2015, 3:30 PM Reply   
And FYI I didn't come up with the 5-10mil number. Boarder85 did
Old     (Redheadd)      Join Date: Apr 2014       03-31-2015, 4:51 PM Reply   
Right on man!
Old     (racer808)      Join Date: Jan 2013       04-01-2015, 5:22 AM Reply   
Some of the best sex happens on the boat. Just don't tell your wife about it. Chicks hate a happy man
Old     (boardman74)      Join Date: Jul 2012       04-01-2015, 6:05 AM Reply   
This has all the makings of a classic WW thread….sex on boats, "hey look how rich I am", Don't finance…unless you're trailer trash you should just "stroke a check" for it, and sound financial and retirement advise!!! Now if we could just get a broken drive shaft and maybe a sunk Xstar I think we would be there!!
Old     (sidekicknicholas)      Join Date: Mar 2007       04-01-2015, 6:54 AM Reply   
^
Well, if we're going to make it a classic .... I'll get the ball rolling:


Did I mention I'm a level 10 gymnast?.... and have a Tige' tattoo?.... thinking about naming the LSV the "Sausage Setter" too. Anyone know if the tower will hold 150 speakers? Can I tow the LSV with my Geo Tracker, its cool as long as I leave the boards in the racks for downforce right? I'll be paying with my insurance check from my sunken X-80. Something something something chaos about the OKC cable park, etc etc.
Old     (Redheadd)      Join Date: Apr 2014       04-01-2015, 7:09 AM Reply   
Lmfao!!! I am so happy right now. This is my kinda thread!!
Old     (brycejb328)      Join Date: Aug 2009       04-01-2015, 7:18 AM Reply   
wait.... is nicks brothers (or whoever the heck owns it) nautique supersport on that infamous WW photo collage?
Old     (iShredSAN)      Join Date: Apr 2012       04-01-2015, 8:04 AM Reply   
Quote:
Originally Posted by brycejb328 View Post
wait.... is nicks brothers (or whoever the heck owns it) nautique supersport on that infamous WW photo collage?
I am surprised that the commonly posted pics of that supersport have yet to be posted in this thread...
Old     (theloungelife)      Join Date: Jun 2012       04-01-2015, 8:07 AM Reply   
Just to chime in one more thing. The 2004 LSV is the first year of the 04-07 hull. It throws an insane wake when loaded down. Just make sure it is the wake hull and not the diamond hull. For $30k, that is a steal deal. Jump on it fast. If she goes to market with it, it'll disappear quick
Old     (Redheadd)      Join Date: Apr 2014       04-01-2015, 8:08 AM Reply   
I wish nicks brother was on here. For insight.
Old     (sidekicknicholas)      Join Date: Mar 2007       04-01-2015, 10:52 AM Reply   
Quote:
I wish nicks brother was on here. For insight.
I'll see him tonight and let him know his presence is being requested.

He generally logs on with my account though.... so if you see a different posting style in the next 24 hours, safe bet it is that turd.
Old     (scottbaker44)      Join Date: Mar 2014       04-02-2015, 5:22 AM Reply   
Definitely buy the boat. I'm 22 and just financed a brand new Axis T23. I've had people think I'm an idiot, but I don't really care. You're in a position where you can easily do so, as was I. At the end of the day, as long as you're being financially responsible, it doesn't matter exactly how much is in your checking account and how much liquid cash you have for your everyday expenses. I had a little over 2k myself after saving/investing a little over 20%. The lake is one thing I (and you for that matter) love more than most things. Sometimes you just have to say screw it and go for it.
Old     (jtryon)      Join Date: Jan 2015       04-02-2015, 8:08 AM Reply   
Do it.
Old     (K_Dubbs)      Join Date: Feb 2015       04-02-2015, 8:56 AM Reply   
For the sake of humanity, BUY THE BOAT!! Your finances are fine, allocate everything you have left over on the payments and you'll pay maybe a couple thousand in interest. Offer her 27-28K and at the end term you'll have paid 30. You will regret not buying the boat, you know you will enjoy it when you do buy it.
Old     (Redheadd)      Join Date: Apr 2014       04-02-2015, 9:33 AM Reply   
And you can always sell it and get your $ back!
Old     (bcrider)      Join Date: Apr 2006       04-02-2015, 9:42 AM Reply   
You can talk yourself out of it and you can talk yourself in to it. It's a boat, so of course non of us should be spending our money on one but it's what we love so we take the cost of ownership as an "is what it is". If you want it buy it. If you don't, be done with it and walk away. I bought a new boat (to me) last year. It was the most amount of money besides a house that I have ever spent on anything and I get to use it 6 months a year.
Old     (eubanks01)      Join Date: Jun 2001       04-02-2015, 11:04 AM Reply   
The big question I didn't see asked, but I think is most import, is if your wife will go back to work or stay home after you guys have a kid(s)? That decision if what drove our decision on the boat. We wanted my wife to have the option to stay at home so knew we couldn't afford the boat later. We decided to go ahead and buy the boat (paid cash as we don't like to carry consumer/auto/boat debt).

We look back on it as a great decision. It is paid for. We got to enjoy it for 5 years before having kids. We didn't get out as much right when we had kids but now that they have gotten older (6 & 4) we go out quite a bit more. Kids are expensive!
Old     (acurtis_ttu)      Join Date: May 2004       04-02-2015, 11:55 AM Reply   
#1 your brother is being a d*ck. be sure and tell him.
#2 buy the boat, finance it, don't second guess your decision. Enjoy it.

#3 in almost 40 years of life I have never met a successful person who didn't take chances with money. took me a while to figure this out.
Old     (sidekicknicholas)      Join Date: Mar 2007       04-02-2015, 12:43 PM Reply   
Quote:
#3 in almost 40 years of life I have never met a successful person who didn't take chances with money. took me a while to figure this out.
The scary thing is, I think the same can be said for homeless people.

Quote:
is if your wife will go back to work or stay home after you guys have a kid(s)?
That is a great point.... one of two things looks to be a possibility.
1.) She stops working until the kid(s) are in school full time
2.) My mother will be retired by then and has expressed a strong desire to be a granny-nanny... which would mean we could be keep working. I have a pretty sweet setup at this new place with our family being really close. My mom and Dad are both within 2 miles away. I have two stay-at-home aunts with their own kids within .5 mile, and my in-laws will be retired by the time kids are happening and they're about 12-15 miles away. So my guess is there will be no shortage of help if needed, but I would guess my wife would rather be the one at home raising kid(s).
Old     (mark197)      Join Date: Dec 2009       04-02-2015, 12:44 PM Reply   
^#3 I've met lots of successful people that forget to enjoy life. Take time and do the things you enjoy.

I'm north of you in Wisconsin and I never second guess our decision to purchase a new boat and we sure the hell don't have $2k / month of disposable income.



Oh and this is our second boat we made $5k on the last one after ownership.
Old     (ottog1979)      Join Date: Apr 2007       04-02-2015, 1:28 PM Reply   
Quote:
#3 in almost 40 years of life I have never met a successful person who didn't take chances with money. took me a while to figure this out.
The scary thing is, I think the same can be said for homeless people.


Catastrophizing is just an excuse to stay mired in analysis. There's a hell of a lot of ground between taking reasonable risk (if you could even call this that) and homelessness. At most, you're risking $4-5k (but more like just a few grand) and the hassle of selling the boat.
Old     (jhartt3)      Join Date: Jan 2012       04-02-2015, 4:09 PM Reply   
This isn't a risk scenario. You're talking like used car salesmen saying it's an investment. Its a toy. You either want to buy the toy or you don't.
Old     (DenverRider)      Join Date: Feb 2013       04-02-2015, 4:29 PM Reply   
It always amazes me how many people think that the hermit who never spent a dime that wasn't necessary, worked an average blue collar job his whole life, had no friends or family, but died with 3 million dollars tucked away in his mattress was some kind of success. Even if the mattress is proverbial, the money was actually wisely invested, and the blue collar guy actually dies with 3 billion dollars. It doesn't matter. Still not a success story. Still not the life I would ever choose. I just took a trip with my family to the Dominican Republican for a week. Talk about a bad investment. But if you aren't having fun, what the hell is the point? I had a boat before my kids were born and I'll probably be giving them a boat when I'm too old to drive it myself anymore.
Old     (jhartt3)      Join Date: Jan 2012       04-02-2015, 5:18 PM Reply   
i'm not advocating buying or not buying thats a personal choice but calling anything you're spending money on ... like a vacation ... a boat ... a four wheeler... etc. an investment ... unless youre in the business of flipping one of those things ... makes no sense. you're spending your money to give yourself pleasure ... and there's nothing wrong with that ... but you're not investing. youre spending. just like the word diet has become synonymous with a short term dietary change vs its original meaning of what you put in your body. the term investment is now much over used.

i think we can all agree its not a wise financial choice and its not an investment .... but it is fun and if its how you enjoy life buy it... I own a VLX i love it.

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