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Thinking about selling everything and buying a yacht?

Discussion in 'General Yachting Discussion' started by smitrock, Feb 27, 2010.

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  1. Jim Garcia

    Jim Garcia New Member

    Joined:
    Jul 19, 2018
    Messages:
    1
    Location:
    New Mexico
    I was on my way to work today and have been thinking about buying a Yacht on the west coast were I grew up. I said to my self this morning that I am going to sell everything I got to buy a Yacht. I will be 59 years old in a few weeks. Lost my wife to cancer 2 years ago have been very successful in business and life. I told my self I am ready to sell everything I got to buy a Yacht. Googled that phrase and here I am. This is my dream and I am going to pursue this as my goal is happy and healthy. Ready or not here I go.
    Any and all advice is appreciated.

    Thank you for accepting me into this forum which I never have even thought of before seeing this site..
  2. Lepke

    Lepke Member

    Joined:
    Dec 26, 2015
    Messages:
    123
    Location:
    US West Coast. Cruise NW Passage to Alaska.
    I'm 70 and lived on ships and boats or near the water all my life. I can't imagine living in a neighborhood with screaming kids and nagging wives. I live and cruise aboard an 83' boat. I do my own maintenance and overhauls because I know how. Occasionally hiring helpers. I winter on a private dock with a work shop barge that cost me about $5000/yr. I haul out in the off season at a fishing port at low rates. They haul, block and pressure wash. I do any repairs, paint and change zincs. I overhauled both my Detroit Diesels for about $10,000.
    My overall yearly cost is below what anyone here would believe.
  3. bayoubud

    bayoubud Senior Member

    Joined:
    Feb 19, 2017
    Messages:
    1,149
    Location:
    Florida
    Smitrock and Garcia, go for it or possible regrets later. After getting some hands on experience try a bare boat charter.
  4. olderboater

    olderboater Senior Member

    Joined:
    Sep 2, 2013
    Messages:
    7,130
    Location:
    Fort Lauderdale
    Huge difference, Lepke. You've done it all your life. Jim has never done it and suddenly is thinking about it. You know all the negatives, he's only aware of what he imagines the positives to be.

    To Jim, I ask your boating experience and a huge question "WHY?" What has suddenly made you think it would be for you? Selling everything and putting the money all in a rapidly depreciating asset needs to be thought through carefully. Honestly, you didn't share enough information to allow any of us to really advise you.