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Go Back   WakeWorld > >> Boats, Accessories & Tow Vehicles Archive > Archive through December 20, 2006

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Old    jeff taggart (cwb_fooguitarlz)      Join Date: Nov 2006       12-06-2006, 7:10 PM Reply   
i see on here that alot of you guys have badass boats. i see Xstars, supras, and malibus and stuff. and some of you are really young. so i was wondering what you did to get where you are and to have enough $$$ to get a boat like that. haha. right now im counting on my friends bc all we got is a pontoon and a dumbass glastron. where did you get the moola? haha $$$$
Old    Team CBK....Nate (cbk)      Join Date: Aug 2006       12-06-2006, 7:17 PM Reply   
Work x 10.
Old    Greg Bodor (gti2lo)      Join Date: Nov 2005       12-06-2006, 7:49 PM Reply   
Get a good education and get yourself a good job that pays well!

All about setting goals and achieving them!!
Old    GoodTimes (bennygoodx)      Join Date: Aug 2006       12-06-2006, 7:49 PM Reply   
Yup, I slave. I also take big risks with real estate and stocks. I've taken all of I owned several times and gambled it on the markets. Most of the time I'm lucky. Other times, I've lost my shirt. I'm old compared to the other guys on here though...
Old    Mike (ponyh8r)      Join Date: Dec 2004       12-06-2006, 8:03 PM Reply   
Finance it forever!
Old    Newty (newty)      Join Date: May 2005       12-06-2006, 8:04 PM Reply   
Marry a nurse!
P.S. You'll need a decent paying job too.
Most boat loans are long term. Like 20 years, so the payment is much smaller but the commitment is much larger.
Old    Ron (dcranium)      Join Date: Mar 2006       12-06-2006, 8:12 PM Reply   
Hey! Easy on Glastron...

Upload
Old    M-Dizzle (liquidmx)      Join Date: Jun 2005       12-06-2006, 8:13 PM Reply   
24 yrs old here is my deal...

worked all through school since I turned 16, became a journeyman checker at 18 and made approx 20 hr all through college. Paid off all my cars and worked towards having a decent SUV without a payment. Graduated with my BS in Business Admin-accounting. Got a job at a local CPA firm. Drove to Texas to save money on a 2000 wakesetter vlx. Living at home since the only shot in H*** at owning a home here is having two incomes. Do all my own work on my boat since I learned through school on all the fixer uppers I had. I had to completely re-wire the entire ballast and stereo as well as re-loom a majority of the factory wiring. (It was winter and I was bored, lol)

Whats your backstory Jeff? Better yet, whats you plan for how you want to live?
Old    jeff taggart (cwb_fooguitarlz)      Join Date: Nov 2006       12-07-2006, 5:59 AM Reply   
idk im still in high school. im trying to figure out what i want to do with my life. i know i want wakeboarding in it. im 16 and i was thinking about being an air-traffic controller bc that runs in my family. one of my friend's dad is hooked up with mastercraft and he gets the newest X9's for free to ride around the lake and show off. HE GETS PAID FOR IT. what kind of deal is that? he also flies the plane for THE indianapolis colts. haha. anyways i just wanted to see what you guys did for a living and how you got there.
Old    jeff taggart (cwb_fooguitarlz)      Join Date: Nov 2006       12-07-2006, 6:00 AM Reply   
oh haha sorry about that Ron. i just couldnt manage to get anything done behind our boat. we dont have a tower though so its probably a little different.
Old     matt c (curtisco24)      Join Date: Dec 2005       12-07-2006, 6:10 AM Reply   
I would agree that 20 year financing does help. Boats keep going up, and people keep buying them, so someone can own for a few years with a huge payoff, then sell and not lose too much money. I personally think this boat thing is going to do like the housing market. Eventually, boats are going to get so expensive, nobody can afford them, which is going to kill the new boat market, and hurt the used boat market. Before you say anything about the boat market growing, I know how much it is growing, but it is living on borrowed time, in my opinion,
Old    Byrd (byrd)      Join Date: Dec 2005       12-07-2006, 7:32 AM Reply   
You raise an interresting question, and I will offer you a different spin on it. IMO, It's not how much you make, but how much you spend. If you live beyond your means, and rack up a lot of unsecured debt, you might not have the flexibility to buy a boat in the future. By trying to be as debt free in other areas of your life will help you in the long run.

IMO, as long as you are doing something you enjoy, the money will come eventually. Take your time and make smart financial decisions along the way and you should be fine in whatever you decide to do with your future.
Old    Stanfield (stanfield)      Join Date: Mar 2004       12-07-2006, 7:39 AM Reply   
I work a second job 3 nights a week to finance my wakeboarding. Small price to pay really.
Old    Josh B (joshugan)      Join Date: Apr 2005       12-07-2006, 8:32 AM Reply   
Get the book "The Five Lessons a Millionaire Taught Me About Life and Wealth" from your library. It's a quick read and worth it.

There's already been a lot of good advice on here and I think this book will help you out. One of the 5 lessons is making money in the margins. How much money do you spend on eating out and other small purchases? It adds up fast. Say you spend on average 3 bucks a day on small things: Mountain Dew, Snickers, bean burrito, etc. That's $1095 in a year and I'd guess you spend more per year on little things that "don't cost you anything."

Byrd summed it up pretty well.

And get educated!!! I'm in my second year of law school and by the time I graduate I will have a little over $50,000 to pay back in loans.

The way I figure it I'm about 4-5 years from an '02 SAN. If I wanted to I could be 1.5 years from a brand new X-1 but I don't want that debt.
Old    redneckonaboard06            12-07-2006, 8:58 AM Reply   
Set a goal and achieve them. An education is def. the best way to go. I don't have one, but it is my very, very near future. I'm lucky in that I have a good job. I don't have a $50K boat, but then again, I can't afford one. I settled on a price that was within my budget, but satisfied my needs and wants for when I'm on the water. I set a goal (mem. day 05)that by mem. day 06 I'd have a boat. I worked my ass off. 7 days a week solid, most days 12 hours or more for a year, paid off every bit of debt I had. Only debt I have right now is my truck and boat. I love my boat (2006 Tahoe Q4) But now come the first of the year, I'll still be able to purchase a house with a garage to put that boat in.
Old    Mike Rempel (mechmaster)      Join Date: May 2006       12-07-2006, 9:45 AM Reply   
Start small; incriment up the boat ladder when you can afford if.

I bought what I could afford at the time: In university I had a Bayliner with a pylon, then upgraded to a Malibu Sunsetter, and have have the VLX. In each case, I bought what I could comfortably pay off in about 4-5 years (didn't want the interest hit of a 20-year loan on something newer). In all cases, I paid the loans out early to save interest.

Boating's expensive, but you have to pay to play.

FYI, I'm an Mechanical Engineer (M.A.Sc), working in R&D
Old    Erik (etakk7)      Join Date: Apr 2006       12-07-2006, 10:55 AM Reply   
I downgraded my vehicle in order to free up some money. Had a 2003 Acura TL, now drive a 1999 Nissan Sentra and a 2000 Mastercraft 205V. I covered my other needs first with a house, and am using a home equity loan to cover the boat. The home equity loan is interest only and tax deductible. I'm 25, so I'm making the assumption that my house investment will grow and so will my income, such that I can temporarily live "beyond my means."
Old    calix2rider (dmontandon)      Join Date: Jul 2006       12-07-2006, 12:34 PM Reply   
So far I agree with all and like above...
If you live in Cali and have bought a house at least 3 yrs ago and sold or refinanced anytime before the beginning of this year you probably made a mint. That's what we did. We exercised a little bit of our equity... Understand we sacrificed some of our down-payment on the new home however, we've had a s*** load of fun the past year to make up for it.

And thanks Josh B. I'm always looking for a good read...
Old    Daman Barron (ncbschzzt)      Join Date: Jul 2006       12-07-2006, 2:38 PM Reply   
Anything construction, so 10-12 hr days
Old    jeff taggart (cwb_fooguitarlz)      Join Date: Nov 2006       12-07-2006, 4:51 PM Reply   
i got my dad readin' moomba and tige catalogs. but me gettin my hopes up is probably a bad idea. ive been on my dad about getting a new boat for about a year now and we got the pontoon all paid off so i dont see us getting rid of it. The glastron, however, has had many problems with the blower(eek. very bad news), the bilge, and belts. so maybe he'll sell it. idk
Old    jeff taggart (cwb_fooguitarlz)      Join Date: Nov 2006       12-07-2006, 4:52 PM Reply   
oh ,btw ron im likin that tower. its saweet!
Old    Eric (wakeboardin2k4)      Join Date: Sep 2006       12-07-2006, 8:33 PM Reply   
Work hard. I got a job when i was 14 and have been addicted to working, and making money since. I am now 18 and just bought a 1986 Ski Nautique 2001. Not an overly expensive boat but how many college freshman can say "ya I have my own boat". Most of them would say that and just mean there parents boat. Its all about saving money. Resist the temptation to buy unnecessary crap. It helps
Old    Ron (dcranium)      Join Date: Mar 2006       12-07-2006, 8:43 PM Reply   
thanks jeff. too bad about they family glastron. we've had ours for 3 years and still love it (not that i' wouldn't like a wake boat a little more). we've had no problems with ours. the tower gets us bigger air (we went 2 yrs without a tower) and the boat fits in our garage. all key points for us. now our next house will have a longer garage and then i'll be looking at wake boats....
Old    jeff taggart (cwb_fooguitarlz)      Join Date: Nov 2006       12-08-2006, 5:48 AM Reply   
nice. good luck with that ron! :]

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