Careers? How do you afford these yachts!

Hi Hat60, I guess it is not so much which job, but how good you are at it..

Hi,

Welcome to YF.

I would say most Owners of yachts over 100' do not have regular jobs working 9 to 5 for someone else.

They will be further up the tree or even at the top owning their own companies.

You will have to find something you enjoy doing that you can see there is the possibility of advancing up the Corporate Ladder ( Tree) to get where you need to be with the required amount of cash to not only buy the boat but to run it and pay the expenses of ( approx 10% of the purchase price annually for one that is in good shape when you buy it)

Alternately you might be lucky and come up with an idea that went to market as well as Yahoo and Google did for it's founders.

Before I get blasted by others - Yes there are some well known examples of Owners of boats way over 100' who have come by their goods by less than honourable means, my comments refer to the majority of Owners.

Hta60- I hope that I have gone someway towards answering your questions

'If you put two sticks of wood together in a way that no-one has before some fool will buy it'. George Carlin.
A lot of money can be made on anything and in any business. Just be the best, the smartest and have the courage to push through the ney sayers. Just don't do anything that will make you not like the person who stares back at you from the mirror. No amount of money is worth that.

all it takes is a few things be the best at what you do make it happen before any one else can and follow throught with what ever it is and allways suround your self with people that are smarter and better that you and LISTEN REAL GOOD and be patient in all decisions and think befor you act , there is allways an diffrent reaction from others

good luck ....travler

Hat60,

My boss started his company when he was 24 years old. He was the only employee then.
He turned 59 last year and now has over 35,000 employees. Last year was the first time he ever took more than 10 continuous days off.

He is building his 3rd yacht over 150' and has owned 5 yachts over 100'.

I think you give up a lot of "Regular" life style to be that successful. I also think you have to love what you do to be so dedicated.

Build a better mouse trap than the next guy and take it to market a week earlier, and you'll afford yourself most any yacht you wish.

Well, I'm OK being a little (OK a lot) poorer than the guy with 35,000 employees. My company does build a better mousetrap but quality of life is more important to me. My boat gets used a lot. More days on the water, less stress.

Wish there was a beer emoticon

Be Passionate

Hat60,
relentless has one thing right when he says "I also think you have to love what you do to be so dedicated." Without passion you wont be successful. However I dont think you have to give up a "regular lifestyle". You can still have time with your family, go to dinner, free time, whatever...AND have a very successful business. My advise would be this.

1) Follow your passion and not the money. If you do the later you will surely fail. There will be times, prob many, when the money isnt there and you need something to keep you motivated and passionate through those times.
2) Get started now. There is no better time, no better opportunities than right now.
3) Good luck

If it were easy everyone would have a 100' plus yacht.............

Hi:
New here,first post.

How I do it,is trading certain markets-currencies,e-minis,very specific stocks/options.

Is not easy-requires serious effort.
If you are bright,willing to learn,have what it takes,and can make sacrifices it can really be worth it.

There's a 90% failure rate,so be forewarned.

Real Estate investments work rather well also

Success is when those 10 days are separated by only a day or two of taking care of business.

He might miss your response since he hasn't posted in nearly 5 years.

That is true and this thread was his last post.

He does however still appear to lurk here


Last Activity: 04-24-2014 04:32 PM

Well K1W1's answer was right on target.

I'd add some skill, some hard work, a lot of luck. Anyone who acquires wealth and doesn't acknowledge the luck factor is quite arrogant in my mind. If it's personal business or investments, it's right time, right place. Look at Mark Cuban. Sold Broadcast.com to Yahoo for $5.7 billion and they ended up scrapping it. People who start companies that happen to be right place, right time and ultimately get bought for those amounts. People like Bill Gates have no idea things are going to go like they do. Their expectations of success and wealth are far less grandiose when they start. Many just hope to pay their rent.

Most are entrepreneur's. Some do it with rises in the corporate world where they end up with equity and typically buyouts along the way. Some in real estate or the stock market. Then some win lottery's. Either formal ones or just lottery type stock market luck.

I'm not sure how you set out to obtain such wealth. I would think that would be very difficult. I think some do but for others they just set out with ideas or along a path and it accidentally comes along.

You find yourself in a company that then decides to do an LBO, then it sells for many times that price later. Or an IPO. I don't think when you're young you foresee all those things. I do think many start young. But they're driven more by ideas than pursuit of extraordinary wealth. Look at Michael Dell. Assemble and sell computers in garage. He wasn't thinking billionaire. He was just thinking more money than other college students.

Kiwi mentioned less than honorable means and I want to second that comment. That's not just those engaged in what we consider normal crime. It's those engaged in business practices that are not honorable. Look at Enron. Now that was a few greedy men who cared nothing about what happened to others. If I were in charge their crimes would have been even more. How about murder for those who committed suicide as a result of their actions? And the partners in Arthur Anderson who looked the other way. The men who get paid $20 million for a year of work and $40 million to get rid of them. What about Donald Sterling and his wealth built as a slum lord, now the largest residential real estate holder in California and now $2 billion to get him out of the NBA. I saw these types in my business career. I even got offers from them. Remember the statement isn't that "Money is the root of all evil" but it's "The pursuit of money is the root of all evil." Many very wealthy men put that pursuit ahead of anything else in life including ethics, honesty and the treatment of others. Maybe one of the most telling stories is look at how some got rich in waste management. Yes, the only thing dirtier than their jobs was them. Then they built businesses, sold them, built another, sold it. Many of those businesses never survived, some did. Many make their money at the expense or harm of others. And one other type of what I consider an ugly way to make it rich. Bankruptcy. It's there and I don't have a problem with it for a person who just encounters inescapably bad times. But, Donald Trump. 4 times for his companies, once individually. How many people hurt badly by never getting the money they were owed? How many companies put out of business? How many lost jobs?

I'd only say pursue being your best, pursue ideas, pursue greatness in how you do things, and then if you're extraordinarily lucky the money will come. Pursue the money at the cost of everything else and you'll sell your soul. And really do what makes you happy in life because happiness is the greatest wealth. If it then comes with money too, great.

But I think the vast majority of wealthy people either inherited or made it through ideas, hard work, and luck. Various combinations. Many were also risk takers, willing to put it all on the line for that which they believed in. That majority is not a lot different than anyone else, just right place at the right time with the right idea or move. Somewhat like actors and musicians. They had talent but they got the right breaks too and for every one who did, hundreds with talent did not. Then some made it at the expense of others.

Other Peoples' Money

One persons 100+ mega Yacht worth millions, is anothers 26 ft Chris Craft that gets them out on the water and enjoying life, after all a bud is is a bud no matter how much money you have, as is the smile from you children when they catch their first fish from your 10 ft tender, driven by yourself.