Boat Investments
Buying a boat is sometimes referred to as an investment. I believe that’s true, at least in the emotional sense. There are many unique experiences to be had while navigating the local waterways. Many boaters get a great deal of satisfaction from their time on the water.
That said, financially speaking, most boat purchases, particularly new boats, are poor financial investments. Depreciation alone, as with cars, can knock the sales value down 10-15% or more annually. And, then there are the other expenses shared by new and used boat purchasers both, such as: insurance, storage, maintenance, fuel, repairs, etc. Naturally, your investment return derives from your initial purchase price, depreciation and normal operating costs minus your sales price. If you think stock market returns are poor currently…
Boating is a lifestyle. Like many lifestyles – skiing, fishing, traveling, etc. it is not inexpensive. However, boating can deliver experiences you’ll never forget and that makes owning a boat one of the best investments you can make.
