Boat Paid Off!!

[walleyes]

I don't get all these thirty year olds with the big trucks and beautiful boats. Maybe they think there is no tomorrow. However with the state of things, I doubt I'd be any further behind now, financially if I'd of taken the plunge 30 years ago. At least I'd of had a boat. Who knows?

It just depends what someone is into. Lots of young people just **** it away on partying and goofing around. I’ve always told my boys I would rather see them buy something and have their money going towards something as just blowing it on pissing around. Our family is into hunting and fishing it’s what we do, and we do it in a big way. It takes money this day and age to do those things. If it takes some financing in order to have decent equipment and tools to do that no biggy. As far as I’m concerned and this is just my thoughts on it. I see young people going traveling to exotic countries or going skiing to expensive places or what ever and that’s fine if that’s what you enjoy but really all that is is partying nothing more. Just as soon see my boys put their money into a nice boat or a good quad or a decent vehicle and be grounded hard working family men working for something. Again just my thoughts not calling shots on anyone.

 

[Rain City]

I don't get all these thirty year olds with the big trucks and beautiful boats. Maybe they think there is no tomorrow. However with the state of things, I doubt I'd be any further behind now, financially if I'd of taken the plunge 30 years ago. At least I'd of had a boat. Who knows?

I'm a thirty something with a big truck and fancier than most boat. But I also had my carpentry ticket at 19, bought my first house at 21, bought my first boat brand new at 24, started my business at 25 and got through my first divorce at 32 and now own my house in Vancouver (with a massive mortgage). My wife (who was equally ambitious growing up) and I rent out the main house and live in our laneway house so we can afford to moore our boat. We can afford it and we deserve it.

 

[Totally unexpected]

Like my wife always tells me I hav

I'm a thirty something with a big truck and fancier than most boat. But I also had my carpentry ticket at 19, bought my first house at 21, bought my first boat brand new at 24, started my business at 25 and got through my first divorce at 32 and now own my house in Vancouver (with a massive mortgage). My wife (who was equally ambitious growing up) and I rent out the main house and live in our laneway house so we can afford to moore our boat. We can afford it and we deserve it.

Rain City you are an exception to your generation sir...a generation that in my opinion ( I own 4 of them), has the attitude of being entitled and not believing they need to work hard for all they get. I love my kids but its a 50/50 split on there drives and success. I applause all your accomplishments sir hats off to you!!

 

[Foxsea]

I'm a thirty something with a big truck and fancier than most boat. But I also had my carpentry ticket at 19, bought my first house at 21, bought my first boat brand new at 24, started my business at 25 and got through my first divorce at 32 and now own my house in Vancouver (with a massive mortgage). My wife (who was equally ambitious growing up) and I rent out the main house and live in our laneway house so we can afford to moore our boat. We can afford it and we deserve it.

Lots of people feel younger folks need to suffer some before they get to have nice things. Nonsense! You deserve what you are willing to work for. I was a carpenter for 40 years. Always worked hard, always had nice stuff and never had a debt I couldn't handle with some more work. With historically low interest rates, if I was 35 again, I'd still buy all the land I could manage and a few toys for fun. It's great to earn the money but remember what you are working and earning for. Enjoy yourself along the way because, as my Mom used to say, "You'll be a long time dead. "

 

[kingblazer84]

Lots of people feel younger folks need to suffer some before they get to have nice things. Nonsense! You deserve what you are willing to work for. I was a carpenter for 40 years. Always worked hard, always had nice stuff and never had a debt I couldn't handle with some more work. With historically low interest rates, if I was 35 again, I'd still buy all the land I could manage and a few toys for fun. It's great to earn the money but remember what you are working and earning for. Enjoy yourself along the way because, as my Mom used to say, "You'll be a long time dead. "

Im 35 and bust my butt to have everything that I do and more, Im a Red Seal Mechanic by trade and although I didn't get as far as Rain did right off the hop I'm heading and trending in the direction I want to be in the future with my wife and a house, kids, boat, 2 vehicles etc. @Foxsea has the right idea, live a little and enjoy what you have now! because you don't know what will happen down the line, but at the same time know your limits and budget yourself accordingly so if something does happen your ready for it!

 

[Foxsea]

Like my wife always tells me I hav


Rain City you are an exception to your generation sir...a generation that in my opinion ( I own 4 of them), has the attitude of being entitled and not believing they need to work hard for all they get. I love my kids but its a 50/50 split on there drives and success. I apparently all your accomplishments sir hats off to you!!

I have two daughters and I know many of their friends. They are all doing very well, so it's not a generational thing. They learned a good work ethic, work hard and that is paying off. I recall telling one of my daughters after 2 weeks out of high school, that it was time to go to work. She sure showed me: she came home that afternoon with three jobs to choose from.

 

[Foxsea]

Im 35 and bust my butt to have everything that I do and more, Im a Red Seal Mechanic by trade and although I didn't get as far as Rain did right off the hop I'm heading and trending in the direction I want to be in the future with my wife and a house, kids, boat, 2 vehicles etc. @Foxsea has the right idea, live a little and enjoy what you have now! because you don't know what will happen down the line, but at the same time know your limits and budget yourself accordingly so if something does happen your ready for it!

For a guy half my age, you are very wise. Of course you're a trades guy - just stands to reason.

 

[Totally unexpected]

Honestly my comments were not meant to offend anybody and I hope I did not I know there are many young hard-working people but as a father of four kids age 27 to 35 I see it on a daily basis and have struggled with creating some kind of Drive in my own kids I respect all of you for what you do and yes everybody should live within their mean as my dad always told me no matter what your status in life always remain humble I have two red seal tickets and a Class 1 drivers license and I've worked hard for everything I have and have given to my own kids so I do agree you work hard you can have whatever you want within your means

 

[kingblazer84]

Honestly my comments were not meant to offend anybody and I hope I did not I know there are many young hard-working people but as a father of four kids age 27 to 35 I see it on a daily basis and have struggled with creating some kind of Drive in my own kids I respect all of you for what you do and yes everybody should live within their mean as my dad always told me no matter what your status in life always remain humble I have two red seal tickets and a Class 1 drivers license and I've worked hard for everything I have and have given to my own kids so I do agree you work hard you can have whatever you want within your means

no offence taken

 

[Rain City]

Honestly my comments were not meant to offend anybody and I hope I did not I know there are many young hard-working people but as a father of four kids age 27 to 35 I see it on a daily basis and have struggled with creating some kind of Drive in my own kids I respect all of you for what you do and yes everybody should live within their mean as my dad always told me no matter what your status in life always remain humble I have two red seal tickets and a Class 1 drivers license and I've worked hard for everything I have and have given to my own kids so I do agree you work hard you can have whatever you want within your means

I think we get what you were saying. You're not wrong for the most part lol.

 

[Captain PartyMarty]

I used to be like a lot of guys not wanting to owe anybody anything. However over the last few years my attitude has changed, when I look to older generation of heavy savers like my parents I see that yes they saved a bunch of money for retirement and where planning on experiencing life once they retired. However the reality is quite different you never know what is coming your way, you could be done at 65 with a cancer diagnosis, or kill in a car wreck, worked your whole life and for what. Life is not about working its about enabling a type of life style you want to live, if you can afford the toys then you should have them in my opinion.... Work hard, Play hard

 

[walleyes]

I used to be like a lot of guys not wanting to owe anybody anything. However over the last few years my attitude has changed, when I look to older generation of heavy savers like my parents I see that yes they saved a bunch of money for retirement and where planning on experiencing life once they retired. However the reality is quite different you never know what is coming your way, you could be done at 65 with a cancer diagnosis, or kill in a car wreck, worked your whole life and for what. Life is not about working its about enabling a type of life style you want to live, if you can afford the toys then you should have them in my opinion.... Work hard, Play hard

Nail on the head there bud.

 

[CIVANO]

Work hard, Play hard and budget. It is what I did and was able to retire at 50 (74 now) and gave my company to 6 of my employees.

 

[walleyes]

If retirement is big on your list.
Personel I’m in no rush, I enjoy my job, pays well and not much physical labour. Lots of stress some days especially with the ESG’s of companies these days but it’s all good. In time you learn how to manage stress. The type of work we do now we are 2 weeks on and 2 weeks off year round pretty much and 2 guys on site so we work 12 hour shifts. So yah I’m in no rush. Like I say maybe in 10 - 12 years when I’m in my mid 60’s but really I’m in no rush to get there. Even then if I still have my health I may work winters for a couple years if they still want me around.

 

[Totally unexpected]

I'm with ya there i think we gotta keep moving keep active physically and mentally...we have enjoyed our life my wife and I we work and we play and we love like it could be our last day we take nothing for granted we aren't taking it with us so live every day I truly feel if you wait till your retired it could be all over you may not be able to enjoy all those things you were saving up to do!
If you're not living on the edge...you're taking up to much space!!

 

[Totally unexpected]

Happy Friday!!!

 

[gunnerlove]

I don't get all these thirty year olds with the big trucks and beautiful boats. Maybe they think there is no tomorrow. However with the state of things, I doubt I'd be any further behind now, financially if I'd of taken the plunge 30 years ago. At least I'd of had a boat. Who knows?

It also depends on how much you are worth. If you have a million in equity borrowing money is shockingly cheap. I don't, but talking with mortgage brokers is informative.

 

[ab1752]

My parents were straight out of the depression and they saved every dime, rationally or not. But when they were around mid 30s, one of my dad's best friends who had finally kicked the bottle died suddenly from cancer after never having traveled, something he always said they would do in retirement. Mom and Dad started that year to take a month vacation in the UK and Europe and did so up until my wife and I took them to Italy last in 2007. Both passed away when they were in their mid 80s after having been retired for 24 years.

I'm the youngest of 5 and we span 13 years so it is a given we all have varying perspectives on finances. They are all dire savers while my wife and I are more "in the moment". I've lost 3 good friends in our 40s, all from some sort of misadventure spurned on by too much party. So our own perspective is shifting towards a slower pace but we had kids later so the monsters are not going anywhere soon.

One of my top priorities is that the kids to get through school with no debt so they are well positioned in life, with the goal that my wife and I can retire in the next 8 years, perhaps sooner. But in the meantime, I'm going to give it hell with no regrets.

 

[Rayvon]

Good topic,being older I can see both sides of the borrowing for boat deal.I've never borrowed for a boat,but I wonder now if I should have when I was younger.I would always buy a boat I could afford (alway's old and needing work) and fix it up over time and sell ,hopefully breaking even or making a few bucks profit.Then find a good deal and improve it so I could buy something newer or bigger.I sold a few boats over the years to pay for unexpected bills that came up,broken down cars,kids braces,income taxes,new home etc. and that always hurt.Now that I can afford a newer or bigger boat my kids are grown and gone.Maybe it would have been better to have a reliable newer boat when they were young and have experiences they would remember.But I've always hated having debts hanging over my head,I was one of many people that paid 12% on their mortgage back in the 80's and watched my payments all go to interest,that hurt.Everything in moderation I guess.The one thing I'm sure of is that I love boats and being on the water.

 

[Bill 310]

This is such an interesting topic. A neighbour was telling me that he and his wife were worried about affording their retirement so they are still working post age 65. They have a nice lifestyle now and don't live extravagantly.

He then volunteered that their house was paid for for , no other debt and 2.25 million saved in RRSPs and TFSAs., and another 500K in non RRSP funds

I told him that they were probably better off than most retirees and maybe they should think about hanging it up.

The problem is that some people just need to save even when they will never run out of money and could stop working.

I often think that there is fear of the unknown for some people and they are more comfortable working and saving and they can't mentally make the leap from saving their money to spending their money.