Boat Owners Are Rich?

[LuvBoating]

Apparently some folks think if you have a power boat, no matter what the year, you are rich or "very well off". Same goes for those that own a motorhome or other recreational stuff.​

We've had folks wonder about us, even though our boat is a 1992, not a 2018. ​

 

[hvymtl939]

I mean, to a certain degree, I wouldn't say they're wrong. Perhaps not rich, but definitely well off enough to spend money on "toys".

 

[Scott Danforth]

boating as a hobby is more expensive than racing. I spend more per year on my boats than most of my buddies do for running 15-20 races....... have to figure out how to get sponsors for boating.

 

[jkust]

Not in my state...everyone owns a boat. It's the lake home owners who have $ as less than 1% of the population has any sort of recreational property whether it be a hunting shack or a 10,000 square foot 'cabin' on a large lake. Of course within that 1%, many place just get handed down.

 

[garbageguy]

My guess is that boats owned by those who are "rich" (have more "extra" money?) are used less than than those who are not "rich". I don't think people wonder about us, we're at the boat(s) quite frequently (when the water isn't solid).

 

[dingbat]

Apparently some folks think if you have a power boat, no matter what the year, you are rich or "very well off". Same goes for those that own a motorhome or other recreational stuff.​

We've had folks wonder about us, even though our boat is a 1992, not a 2018. ​

Depends on the area on what's considered "rich".

Locally, boat ownership means nothing until you get to yacht class. Even then, it's a tough sale unless your yacht is tied out front your water front McMansion with a Lamborghini or two in the drive

 

[badrano]

I'm a private pilot (I guess "used to be") and the saying back when was that buying the plane was the cheap part. It's the maintainence that breaks the bank. I haven't flown in over 10 years because that hobby is way more expensive even if you rent or join a flying club.

I'm apparantly rich enough to buy a boat. Whether or not I'm rich enough to maintain it....we shall see :lol:

I had this "rich" conversation with the wife about the stigma we will get when we pull in to the neighborhood with our new toy. I think one neighbor was surprised that the boat is 13 years old.

Also, think about those who spend $$ a year to go to Disney world every year or take a cruise every year. For us, we are flowing the money in a different direction. A few trips to Disney would buy a nice little boat.

 

[jkust]

Financing allows anybody to look the part while they are still having to balance a checkbook and adhere to a budget.
Anybody can have a 150k lake boat (which is a down payment on an ocean boat) just as anybody with a heartbeat can lease a 75k vehicle (a little hyperbole here but you catch my drift)
.
You never know someone's real situation. I have a buddy who has an almost $50,000,000 private jet, multiple estates, yachts, exotic cars, and on and on. He's like something out of a movie. He's one of the few I would consider to be actually 'rich'.
I think to some extent it depends on your reference group. I only know maybe one person in my daily life who isn't at least a millionaire and she is my admin assistant. It take a lot for us to consider someone 'rich'.

 

[MTboatguy]

I beg to differ, I am broke because I have a couple of boats a motorhome and a 28 foot 5th wheel camping trailer!

:lol:

 

[JASinIL2006]

I think non-boaters have no idea whatsoever how much a boat costs, and they often overestimate, particularly for older boats. My boat is a '97, but I have had people who guessed it cost 3-4 times what I paid for it. Ironically, as others have pointed out, the cost of maintaining the boat is much higher than most people think.

 

[jkust]

I think non-boaters have no idea whatsoever how much a boat costs, and they often overestimate, particularly for older boats. My boat is a '97, but I have had people who guessed it cost 3-4 times what I paid for it. Ironically, as others have pointed out, the cost of maintaining the boat is much higher than most people think.

Generally non recreational people underestimate a lot of things in the world of rec. Visitors to our main lake house would be shocked to learn that the dock and the boat lift were 30k, many of the pontoons running around are close to 100k and new bowrider, not even that big or fantastic is 90k and the the dozens of wake boats that are on the lake can cost close to double that.

Reality is that most people are not people of means nor are they in an upper income quintile. 60% of US households will pay zero or less than zero federal income taxes in 2018 and the top 20% of households will pay 87% and even then, you have to get right to the 1% to even get to the point of starting to discuss high income and then move that to a high net worth as is the connotation of 'rich' because wealth and income are very different. The bottom 60% earn up to just about $87k.

 

[aspeck]

I own a boat and I am rich ... rich in enjoyment, rich in peace of mind, rich in relaxation ... everytime I take the boat out on the water. Water therapy is the BEST therapy!

 

[jkust]

I own a boat and I am rich ... rich in enjoyment, rich in peace of mind, rich in relaxation ... everytime I take the boat out on the water. Water therapy is the BEST therapy!

The fact is we are all rich from a global perspective.

 

[tpenfield]

Many years ago I wanted to become rich. So, I bought a boat

 

[SkiGuy1980]

I've been fortunate to get back into a nice 21 footer... just exactly what I wanted. I did marvel at this huge motor yacht cruising down Cumberland 2 weeks ago (maybe a 45-50 footer??). I thought for a second how cool that would be to skipper that thing... until I thought about having to pull into the gas dock

If you get to spend the day on the water... you're a rich and blessed man!

 

[Scott Danforth]

I have been on a 163' yacht that burns 13.6 gallons of fuel per second at full throttle. they budget $150k USD in fuel per day at sea.

my 75 gallon tank with a $200 per outing trip is cheap.

 

[Maclin]

I am not a rich boat owner, but I play one on the internet.

 

[MTboatguy]

I have been on a 163' yacht that burns 13.6 gallons of fuel per second at full throttle. they budget $150k USD in fuel per day at sea.

my 75 gallon tank with a $200 per outing trip is cheap.

Cripes and I gripe and groan about the 12 gallons I burn on a weekend fishing!

 

[JimS123]

I got into boating for a mere $1200. I used to use 3 gallons of gas for each outing. At the time I made about $10,000 a year and a brand new midsize car cost about $3000.

That same time period people criticized me for being rich, and yet they thought nothing about spending hundreds each WEEK to go to a freaking football game. I mean a $%^!@#N FOOTBALL game.

One even said that he neglected buying his kids new shoes because the FREAKING football tickets took up his discretionary money.

No....... boat owners are not rich. Maybe Yacht owners are, but not the rest of us. And football addicts are freaks. The boat is relaxing. Being barfed on from behind at the stadium is not relaxing.

 

[Scott Danforth]

Being barfed on from behind at the stadium is not relaxing.

bears game?