tacosman

you make 7 figures/year in jobs that have relatively stable incomes right?(and not just a 'great' year that may not be duplicated)

Because I'm about to drop 83ish on that 'new' 2018 247 and make low 400s in a very stable job where(barring injury or illness or whatever) my income really won't go down, and I feel like that is a *lot* to spend on a freaking boat. I'm just guessing all you guys who buy like these World cat 30somethings and whatnot new make at least 1.2-3 a year. I couldn't imagine making just a little more than I do now and throwing down 60% of my pretax yearly salary for a boat.

Just impressed that this forum has so many really high income earners. It seems like everyone is dropping 350k+ on a boat(and presumably paying cash for it I would hope). Just a bit jealous ha...

billablehours

Paying cash you “hope”...lol. I always do but I would bet some big bucks that most of these folks don’t.

kdenap

How is that 247 equipped ?

tacosman

pretty standard....Yamaha 300, hardtop which was most important/expensive to me, ugly sea green color, 8 gallon vaccuflush(which I don't want), that entertainment center that seems to be on 80% of them although I would prefer a jump seat which is the base. Also some extra rod holders I think and LED lights. The main option it doesn't have is the windlass. Also I will be doing electronics somewhere else separately(although Im just going to get just a marine garmin I think installed)….

tacosman

oh also that is without trailer...with the trailer it was going to be like 86-87 but I told them to take the trailer off because it will just be at one lake only on a lift when not in use. Can drive it to marinas on water for service. And I don't want to maintain a trailer Im not using and have nothing to tow it with anyways

MakoMyDay

Life’s too short for a crappy boat baw!

I pay cash for mine, but I don’t make 2 mil! Just saved up and did it.

csajovic

Depends, If I was making $400K/yr on investments and my kids were out of college and my primary residence expenses were low, I could see spending up to 100% of income. I would put 20% down and finance for 15 years, that way I could be sure that I could sell the boat and pay off the remaining debt at any time. So $80k down, $30k Finance payment plus $30k operating expense.

SlipperyPelican

OP, I think a lot of it depends on where you live and the standard of living you have. I can tell you if our household income was in the $400s, an $83K boat wouldn't be that significant of an expense. We live in an affordable house with relatively low mortgage, don't drive fancy cars, etc. By living in that manner, it frees up funds for toys.

blb078

What's the point of this thread? You trying to get people to prove what they make so you can check off that it is ok for them to own a 300k boat? Just so you know last Friday I took delivery of a new boat that was $330k(350k after taxes and registration, etc). Should I have ran it by you first?

Diverboy

I'm having one of those built right now and don't make near that amount of money, but we have no kids, house on the water paid for, 3 cars paid for, current boat paid for (for sale now), no credit card debt and have decent retirement accounts. Buying the majority of the boat cash, rest will be paid off by end of the year. I'm doing it because my father has had Parkinson's for going on 14 yrs, in a nursing facility, down to 123 lbs and has already lived longer than expected and we just put my mother in law into a nursing facility due to advanced memory issues........both my parents and my wife's parents worked their butts off and waited until retirement to enjoy life and never got to because of health issues. I'm 52 and don't want to end up in that situation, plus the fact that when I'm 70, I probably won't have the fitness or stamina to do long offshore trips and don't want to have regrets about I should have done it earlier.

I do know quite a few people who have boats that are more expensive than their house, along with a boat payment that is more than their mortgage. I also know guys that don't have boats, but live in a mobile home with $100k plus in a race car. To each their own....as long as they are working and not on welfare, what do I care?

tacosman

I'm just curious how people view these things. I'm guessing you make a lot more money than me to spend so much on a boat. My point is I couldn't imagine spending over 80% of my pretax annual income on a boat.

blb078

Well I don't consider myself wealthy, wear clothes from Kohls and Walmart but since you commented on it, I pay almost as much in taxes as you make. But I don't consider it a competition either.

sammythetuna

My wife and I make a combined $300ish plus rental income call it $315 a year. We live in an area where wages are high and cost of living even higher.

im into my current boat for about 80k will likely be 100k when done... it feels like a TON of money sometimes. We both max our retirement funds each year

we are young and no kids - so screw it I’d rather have fun now.

tacosman

This makes sense then as I suspected- you are in that 1.2ish(or a little more or less whatever) range and even though a 350k boat would feel like a ton of money in that income range, I could possibly stomach/see it.....

madhatter1

Well, shit! I guess I am poor. Own a business that is (I guess) successful but don't make that coin.

Guess I'm just a baller on a budget. But still do quite well.

blb078

I dunno, I don't justify my purchases to anyone. I own a 300k Lamborghini, new Hellcat Charger, new C7 vette, plenty of money in the bank. Have two houses both built brand new within the last 2 years one on land one on water paid for all of it in cash and I decided to finance my boat after putting 20% down. Not because I had to but because I wanted to. I don't even know the exact amount of my boat payment but I'll probably pay 20k a month or so payment on it because I can. Do I pass your test? I learned a few years ago after my mom came home from work and pretty much dropped dead with no warning that life is way too short. I'm 41 and after that happened I made the decision that I'm going to live for today not for 30 years down the road.

brands306

Its not that boats are to expensive it's just I don't earn enough is what I tell myself. I own my own construction company and don't see myself buying my dream boat any time soon. Plenty of friends have 200k boats and even 40'+ CC that I am sure are north of 400k. My wife's friend and her husband are under 45 and own not one but two 80' boats. What do all these people I know have in common, they own successful business and have investments that pay dividends.

jtav2002

Meanwhile I’m over here with my 5 figure salary.

Denver Dave

I married rich. Otherwise, I'd still be on the guvment teat.

thegeneral13

I hope you troll for tuna as well as you do for assholes!