Why is it that people think boat owners are rich?

[GrahamM376]

The bit ignored here is the old age/ lack of ability to sail the boat. The OP has left early enough to enjoy several years of the life. If one leaves it after (say) 60, the years might end in a bit of rough despiration.

Don't let age worry you. I'm 65 and only took up sailing 19years ago after a hobby/sport change. We're in Bruce's boat yard at the moment surrounded by boats of all sizes, GRP, wood & steel, many crewed or single handed by people in their 70's. Met one guy 80+ who had fairly recently done a transatlantic single handed.

I disliked working for a living and always treated as a way to support what I wanted to do, I certainly didn't live to work. For those in their younger years (sounding like my dad now!) you have choices - either spend money as you go having lots of fun or, have a retirement target, get the mortgage paid off as soon as you can and cut out some unnecessary expenses. I was lucky to be able to retire at 53 but it took some advance planning.

 

[ukmctc]

Hmm, I think motorboat owners are rich, not the ones that never go out of the marina but the ones that do. Must cost a fortune in fuel running those stinkpots. A friend of mine has a big motorboat but he doesn't leave the marina as he can't affort too, except once a year for a long weekend.
On the otherhand another friend has a 46 foot yacht, but he can't go anywhere either 'cos he can't afford the marina fee's, but his dream was to live on a big yacht and he did it.
I'm not sure being rich has anything todo with yachting/boating, I did notice however most very big boats are leased and not owned, I would assume that was through businesses.
All that aside what is rich? I suppose that depends on the individual.

 

[ean_p]

mmmmmmm Wetwang.........

 

[njamesphoto]

Boat owners are guilty of the same assumptions. We believe the guy on the next pontoon with the bigger boat is richer than we are and the bloke with the Gin palace certainly is. How do we know that ??? We know nothing of their finances and never will as cards are placed very close the chest on that subject. All we know for certain is that their expenditure is much higher than ours for sure. So maybe they are actually poorer than we are. Maybe we should leave the whole issue to economists and get on with sailing. (Actually that wont work either as an economics professor told me once that the end of term exam questions in economics are the same every year - its the answers that change)

I think it would be accurate to say that most of the bigger and newer boats are likely to be on finance so no big investment just a bigger wage.

 

[GrahamM376]

I think it would be accurate to say that most of the bigger and newer boats are likely to be on finance so no big investment just a bigger wage.

You're right there. I was speaking to a guy from one of the finance houses at LBS at least 10 years ago and he said the average loan he had arranged that week was £70,000. Same goes for a lot of "posh" cars, they're on lease hire.

 

[chinita]

mmmmmmm Wetwang.........

http://www.wetwangscarecrows.co.uk/

Anybody going?

 

[Zanziba]

My 2p worth...

a) I agree with people on this thread when they point out most tourists don't realise you live on teh yacht, they're adding the cost to the normal costs of life on land

b) Most people I speak to have no idea about yacht costs and assume my old Westerly cost £200k and mooring fees are 5 figure sums...

c) They only see you relaxing and lazing drinking wine and the like. Anyone who can afford to do that 24/7 must be rich

I moved aboard due to a passion to do so BUT also due to personal divorce circumstances posted by many and common in UK marina's. I love it and it is much much much cheaper than living on land.

Great thread!