What are you up to today

Decision · **Posted:** Tue Jan 27, 2015 10:46 pm

Come on ric, you can do financial planning better than that. Purchase the townhouse next door, keep your boat, car, jet ski, etc., and find some hot chick to move in with you to share the living expenses. Problem solved and with the extra cash flow maybe you can even look at some upgrades?

ric · **Posted:** Wed Jan 28, 2015 7:30 am

Decision wrote:

Come on ric, you can do financial planning better than that. Purchase the townhouse next door, keep your boat, car, jet ski, etc., and find some hot chick to move in with you to share the living expenses. Problem solved and with the extra cash flow maybe you can even look at some upgrades?

Actually my plan is to keep renting my current townhome and rent out all 4 bedrooms. That profit pays my base mortgage, then I'll throw on another 1000 on top. Maybe even rent a bedroom or two out of my new house and put another 1000 on top and see if I can have it paid off in 4 years.

Imagine in 4 years making 75k+ a year with $600 total bills a month. The possibilities become endless. That's worth a little suffering to achieve.

Jus Laxin · **Posted:** Wed Jan 28, 2015 9:02 am

Better yet Rick find yourself a sugar momma, buy boat of your dreams, drive fancy cars, quit job and live the life.
You will have lots of time to do whatever you want on the side while your new momma is napping.

Need to make sure the will is changed to reflect your new level of financial needs in case of her early departure.

Its all good, just saying !!!!!

Decision · **Posted:** Wed Jan 28, 2015 9:36 am

Hey Jus Laxin,

Maybe we could get a government grant for many thousands of dollars for the purpose of trying to find the right "sugar momma" to help ric with his short term and long term financial planning. Wouldn't be too hard a gig interviewing the potential candidates. A little pre screening would help make the selection process more efficient.

We'd have to spend some time determining all the important attributes that a successful candidate should have. Then we would have to find a way to verify those attributes. Hmmmm, where is that grant money.

ric · **Posted:** Wed Jan 28, 2015 9:46 am

Jus Laxin wrote:

Better yet Rick find yourself a sugar momma, buy boat of your dreams, drive fancy cars, quit job and live the life.
You will have lots of time to do whatever you want on the side while your new momma is napping.

Need to make sure the will is changed to reflect your new level of financial needs in case of her early departure.

Its all good, just saying !!!!!

LOL I was married to one. It was horrible. I'll end up renting out the new townhome and continue living in my rental, but usually there's a clause that you have to live in it for a year first.

Jdpber · **Posted:** Wed Jan 28, 2015 10:23 am

hell or.. do not have the nicest thing all the time and own vehicles and boats that are paid off.. like me i have a mortgage and insurance.. yea i could buy a 45k boat this weekend if i desired with out an issue. BUT i do not want a payment. and do not want to eat into my surplus.

hell we could live in 2x the house we have been in for 6 years but, i have it all structured off of one salary so that no matter what happens if one of use is no job we will not loose anything. Having the newest latest and greatest is not always everything in life. I mean sure your escalade and new boat look great but that mountain of debt you carry and the monthly output when you should be living a little lower with less stress..

I am a money hoarder as in i like money.

ON one ever gets wealthy by spending all of their money.

having both properties and renting one as income property structured to carry both mortgages is a great plan.. I am looking to add a couple more income properties to my portfolio. Just waiting for the right one to pop up.

I figure in 10 years when my boy is older and will appreciate a nicer boat with his little friends we will buy one. but for now i am content with this one. i mean hell it does all the same shit a new boat can do.

how about ditching the marina costs and apply that to the car payment.. and this way you keep the boat.. buy a.. hell 1998 chevy work truck v8 and have it set as secondary tow vehicle with only basic insurance (cheap as hell) and tow the boat with that. Then you are good to go.

ric · **Posted:** Wed Jan 28, 2015 10:46 am

I'm pretty set on selling the Chap. I can deal with a jet ski for the time being, and my neighbor wants to go halves on a pontoon for my lake. I'm totally content with just boating on my lake with a pontoon, I've been on my lake for 5 years and only left for the marina/river because of hydrilla issues. It's a party lake so much fun I do miss it. They recently passed a new tax and the lake is getting funded by the county for weed control. It will be crystal clear by summer they said.

I love my boat, but what's 5 years? In 5 years I'll be making more money and have no debt. The only thing I'll have coming in a month will be power, water, hoa, internet, cell phone, insurance. If I want a bigger boat I can just go out and buy my dream H290 at that point.

LouC · **Posted:** Wed Jan 28, 2015 11:26 am

I don't like debt either. Paid off the house in 15 years, and I buy used vehicles (usually 2-3 years old, with certified manufacturers warrantees). Then I keep them a long time (ie we have a 98 Jeep and a 98 Subaru) our newest vehicle has 80,000 on it. Boat is 27 years old and will get re-powered with a new crate engine + closed cooling and stainless steel manifolds when the time comes. Just wait till you start putting kids through college. LOL. I know for some of you that's very far off but compared to private college costs , boating is CHEAP.
As in:
My wife and I went to Hofstra University in Long Island for our graduate degrees in the early to mid 80's. Then tuition was about $4500 for the 2 semesters. Now our son is going there (thank God he got a VERY good scholarship). Tuition is $34,000 for both semesters. What is that, like 7.5 times more expensive ??? My real estate taxes have tripled in the same time period, but private college costs have increased more than twice as much as that.
Then there is room and board, or commuting costs.
Those of you with little kids start saving. Keep the smaller Horizon you have now and plough that cash that you would have spend on the Vista into 529 accounts. You'll be happy you did one day.

ric · **Posted:** Wed Jan 28, 2015 11:55 am

I don't want/have kids, I just like hoarding money.

john55c · **Posted:** Wed Jan 28, 2015 12:38 pm

LouC wrote:

I don't like debt either. Paid off the house in 15 years, and I buy used vehicles (usually 2-3 years old, with certified manufacturers warrantees). Then I keep them a long time (ie we have a 98 Jeep and a 98 Subaru) our newest vehicle has 80,000 on it. Boat is 27 years old and will get re-powered with a new crate engine + closed cooling and stainless steel manifolds when the time comes. Just wait till you start putting kids through college. LOL. I know for some of you that's very far off but compared to private college costs , boating is CHEAP.
As in:
My wife and I went to Hofstra University in Long Island for our graduate degrees in the early to mid 80's. Then tuition was about $4500 for the 2 semesters. Now our son is going there (thank God he got a VERY good scholarship). Tuition is $34,000 for both semesters. What is that, like 7.5 times more expensive ??? My real estate taxes have tripled in the same time period, but private college costs have increased more than twice as much as that.
Then there is room and board, or commuting costs.
Those of you with little kids start saving. Keep the smaller Horizon you have now and plough that cash that you would have spend on the Vista into 529 accounts. You'll be happy you did one day.

This is exactly our plan. BTW we use our 1988 Sundowner much more than most of the people in the neighborhood who have $30K 17' Boston Whaler Montauks....we have dinner on the boat 1-2 nights during week, then are out Friday night after work, all day Saturday and Sunday. Kids memories are the same and it cost us so much less money to do it! The beach is the same whether arriving in a yacht or our boat...

ric · **Posted:** Wed Jan 28, 2015 2:01 pm

Well things are looking good on the 3/2 townhome just got back from the bank and realtor. Official offer letter going in now.

Jdpber · **Posted:** Wed Jan 28, 2015 3:02 pm

john55c wrote:

LouC wrote:

I don't like debt either. Paid off the house in 15 years, and I buy used vehicles (usually 2-3 years old, with certified manufacturers warrantees). Then I keep them a long time (ie we have a 98 Jeep and a 98 Subaru) our newest vehicle has 80,000 on it. Boat is 27 years old and will get re-powered with a new crate engine + closed cooling and stainless steel manifolds when the time comes. Just wait till you start putting kids through college. LOL. I know for some of you that's very far off but compared to private college costs , boating is CHEAP.

I am constantly on the lake and on the regular i see the 60k wake boats and 30-50' cruisers docked all the time.. the huge 50-100' super house boats i think they myst not have engines because in 6 years on the lake i have seen the same 4 out and about. and this is like locknes monster rare.

I don't see how someone can have a 60k boat that sits on a lift all of the time. and hell I'm out on the beautiful days. so why the hell are they not out also.

One boat in the neighborhood that the landing is in. This is a 40-50k Tage wake boat and i have NEVER seen it leave the driveway.. i guess that bitch has a hole in the hull or something. 5 years and never moves.

why own it if you never use it? may as well let that thing sit at the dealer lot and pay $250 a day for a rental 3x a year as that all you do.

USE YOUR BOAT.

fi.na.tine · **Posted:** Wed Jan 28, 2015 6:16 pm

Yeah- I agree... debt sucks.

However - I just worked a 45 year old who saved all his life and never had expensive things... he has a really nice casket now. But that is it.

Enjoy life. Money is not the be all and end all, and you can be buried with it, but in the end it is just paper.

Decision · **Posted:** Wed Jan 28, 2015 9:39 pm

fi.na.tine wrote:

Yeah- I agree... debt sucks.

However - I just worked a 45 year old who saved all his life and never had expensive things... he has a really nice casket now. But that is it.

Enjoy life. Money is not the be all and end all, and you can be buried with it, but in the end it is just paper.

Good post. Live within your means, enjoy today and have a plan for the future.

ric · **Posted:** Wed Jan 28, 2015 10:56 pm

Contract signed. Total closing costs with downpayment is right around 4k, thanks Obama. I'll know by Feb 5th.

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