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Old 07-10-2014, 05:43 PM   #101
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Kevin-a lot of what you say makes perfect sense and is good advice for anyone. We did buy the million $$ boat, but we worked on a specific plan for about 15 years to be able to do so. We lived pretty far below what most would at our income level to be able to have the boat we wanted early enough in our lives to really enjoy it. (we actually got some criticism for that!) We had (and have) no debt and could make the purchase for cash without mortgaging our future years. Even at that, we did buy it used and from a guy similar to your example above. A 5 year old boat, originally bought by a guy in Colorado who thought he would be able to spend up to two months a year on it and take off in 5 years or so. As a business owner, he found he was not able to do that, he could not leave his business for extended periods. His kids got to the age where they would not leave home for such long periods-all with other things going on in their lives. Consequently we were the beneficiary- a five year old boat, professionally maintained with less than 400 hours on her, at about 60% of new cost.

As to Bayliner, if they are not good boats, there are a lot of owners (and more than a few of our friends) around the PNW that are going to be surprised to hear that, there are only about a million of them around here. The waiting line at the Locks each weekend looks like a Bayliner rendezvous.
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Old 07-10-2014, 06:56 PM   #102
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Kevin-a lot of what you say makes perfect sense and is good advice for anyone. We did buy the million $$ boat, but we worked on a specific plan for about 15 years to be able to do so. We lived pretty far below what most would at our income level to be able to have the boat we wanted early enough in our lives to really enjoy it. (we actually got some criticism for that!) We had (and have) no debt and could make the purchase for cash without mortgaging our future years. Even at that, we did buy it used and from a guy similar to your example above. A 5 year old boat, originally bought by a guy in Colorado who thought he would be able to spend up to two months a year on it and take off in 5 years or so. As a business owner, he found he was not able to do that, he could not leave his business for extended periods. His kids got to the age where they would not leave home for such long periods-all with other things going on in their lives. Consequently we were the beneficiary- a five year old boat, professionally maintained with less than 400 hours on her, at about 60% of new cost.

As to Bayliner, if they are not good boats, there are a lot of owners (and more than a few of our friends) around the PNW that are going to be surprised to hear that, there are only about a million of them around here. The waiting line at the Locks each weekend looks like a Bayliner rendezvous.

You seem to have done it right. You thought it out early enough to make it work. If you have a specific goal then you can, and it sounds like you did, adjust your lives to meet that goal.

Its funny but the nearer I get to my retirement date (5 years 8 months) the more and more I see that the professionals I associate with seem to fall into two categories. They either thought it out, made specific goals and adjusted their lives to meet those goals, or they didn't, just living high on the hog hoping their 401-k's would catch up with their spending habits.

The former are the ones that I'm seeing actually retiring in their mid to late 50's or very early 60's. The latter I'm seeing in their 60's hating having to work, pissed off at the system and wondering what went wrong.

Two of them I know are brothers. One brother just bought a retirement home in Kona. He's retiring as soon as his home in Anchorage sells. The other brother is older, up to his ass in debt, and VERY unhappy. His wife retired and SPENT her lump sum pension while her husband was still working making well into six figures to support lifestyle choices.
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Old 07-10-2014, 07:17 PM   #103
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My Admiral and I began our cruising on a Bayliner 2452 Express Cruiser. The chop was so rough inside the hull that you had to be careful where you reached in without looking. With 300 HP and a Bravo III duo-prop, it was great for planing but would work you to death at trawler speeds. The boat taught us everything we needed to choose the type of cruising we do now. Once we're finished cruising, it's conceivable that we'd look for a 4788 to live-aboard. Every boat show, I tour the Bayliners to see what ideas they've come up in their layouts. They know how to use space.
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Old 07-10-2014, 07:30 PM   #104
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Kevin-I know plenty of folks in both camps as well. There is a third camp to which one of our business partners belongs-he has spent his life doing what he does, 60+ hours a week (he is in RE development) and he has had no interests at all outside of work. His wife keeps on him to retire and go enjoy life, but he just doesn't have a clue how to do that so he keep working and bitching about it!
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Old 07-10-2014, 07:33 PM   #105
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Ksanders....ouch....the truth hurts. Well said! Your words resonate with me.

The conundrum for a lot of people is the ability to afford the dream in its perfect conceptual state. When I was in my forties the dream started around 65. Now at 54 the dream starts at 59. Less dollars involved, but plenty to do what we want.
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Old 07-10-2014, 08:22 PM   #106
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Kevin-I know plenty of folks in both camps as well. There is a third camp to which one of our business partners belongs-he has spent his life doing what he does, 60+ hours a week (he is in RE development) and he has had no interests at all outside of work. His wife keeps on him to retire and go enjoy life, but he just doesn't have a clue how to do that so he keep working and bitching about it!
Yes, there is the third group. I know a guy that retired at 67 to approx 12K a month in combined income streams...plenty of money for his lifestyle. He got bored a couple years later and went back to his old job, giving up his company pension in the process.

I know another guy that is afraid of retiring. He is overweight, diabetic, in his 60's with no hobbies. His wife is in her 40's and doesnt want to quit work. He thinks if he retires he'll die.

Then there's another group...A very sad group. A group that lost it all trying to save their mate from terminal illness. A friend of mine's wife got cancer just before they were going to retire. She was terminal. They went outside our great medical insurance plan and spent every cent they had, hawked their house, everything, at one of the private experimental cancer hospitals.

She died, and he worked untill he became so frail in his 70's that he became a safety risk so they basically forced him into retirement.

After that my wife and I had some serious discussions about our end of life wishes, and what we do not want.
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Old 07-10-2014, 08:36 PM   #107
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Kevin-your last story is a sad one, although also too common, especially Alzheimers' cases. Seems an increased life span comes with its own set of problems. My brother-in-law and I were talking just a few days ago about that. I am 65 and he is 68 and I have a 91 year old mother in law and he has a 94 year old mother. Both require time, attention and $$. We are the first generation where it is fairly common to be retired and still have living parents.

Like you, my wife and I have both reviewed our end of life wishes and made sure our children and others are well aware of them and that we expect them to be done as we wish.

I will be content to be wrapped is in a cushion cover (no sails!), have an anchor attached (only the right one!-a new debate) and dumped over the side!
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Old 07-10-2014, 08:46 PM   #108
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Maintaining the drift. A friend with a trailer sailer, with ambitions for a keelboat, developed prostate cancer (almost certainly successfully eradicated), just after that his father died of cancer 6 weeks post diagnosis. They decided, we`re not waiting to pay down the house, sold the TS, bought a lovely Jeannou 32 sailboat. They are happy. Way to go!
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Old 07-10-2014, 08:46 PM   #109
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Nothing like a story like that to make one ask the necessary questions, no? Anyhow, I've never seen anything wrong with a line of boats that excite all income levels to get aboard and discover something about themselves through enjoyment on the water. Part of the American Adventure is paying for your enjoyment in relative freedom.
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Old 07-10-2014, 11:59 PM   #110
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Bottom line. No matter what the name plate may say, nor the level of trim finish. Regardless of price point, single or twin, center console or pilot house, v berth or king size full beam master with jacuzzi tub. Ice chest or Sub Zero, Coleman camp stove or custom made stainless Wolff.

We all share the same water and the same views.
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Old 07-11-2014, 02:23 AM   #111
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CP-if you bought the Baden you get the underwater view as well!
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Old 07-11-2014, 04:13 AM   #112
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Bottom line. No matter what the name plate may say, nor the level of trim finish. Regardless of price point, single or twin, center console or pilot house, v berth or king size full beam master with jacuzzi tub. Ice chest or Sub Zero, Coleman camp stove or custom made stainless Wolff.

We all share the same water and the same views.

Well said obi wan kenobi ... Hehe :-P

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Old 07-11-2014, 04:12 PM   #113
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CP-if you bought the Baden you get the underwater view as well!

Sadly I cannot afford Baden, even in its current state, so will have to pass on that viewing opportunity.
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