View Single Post
  #2 (permalink)  
Old 04-21-2012, 08:26 AM
disneysteve's Avatar
disneysteve disneysteve is online now
Super Moderator
Join Date: Jun 2006
Location: New Jersey
Forum Posts: 28,092

Originally Posted by emanon1501 View Post
I will not buy boat cash even though I can.

My feeling is that paying cash on toy is not a good idea.
If you can't pay cash for a toy, you shouldn't be buying it.

From what you've posted, it sounds like you are in pretty good shape. I do wonder if $2,000/year is an accurate estimate of the ownership costs for the boat, though. I am not a boater but considering fuel costs alone, that sounds rather low but I honestly have no basis for that opinion. Just a gut feeling.

I think someone saving 25% for retirement, no debt except a reasonable mortgage and a more than adequate EF can afford to buy a toy for cash for less than 10K.

* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
Reply With Quote