Suddenly boating isn't very important anymore

I just got back from a great 4 day trip......Boating is still important for the mind.......With that said, I know many are in a very tough situation financially as everyone has taking a bath.....I got a new one torn into me the other day on this site because I said my opinion and what I feel to be the truth....The truth hurts! It hurts me too! In fact when I look how I have been running my business over the last 5 years in a loosey goosey manner because all was good and everything was great.....We will all (most) will be stronger, more disciplined and I believe accountable moving forward....Gary says it like it is and there is a lot of truth without feelings....I am not as optomistic about the market hitting 10,000 by christmas, but within 3-4 years I believe it will be back to pre-crisis value....Lets also look at market history....Now is a great time to buy into the pain of the market.....a well balanced portfolio and a disciplined person dollar cost averaging moving forward will be richly rewarded in 5-7 years.....If you put money in at 9:00 am this morning, you just made 6%......dont market time.......I have not looked in over a month at my portfolio....not important, anything in there is for 20 plus years down the road.....We will all be okay........Be patient
 
I wish I had bought GM on friday at $4
 
didn't talk me out of it. I bought BAC, E-Trade. weeeeee. down with the little people.
 
Gents, lets remember what Dave said

"Anyways I opened this thread not so we can argue about how to fix the economy or even what happened or who is to blame but to be realistic about how we all see this affecting us individually"

All good advice but perhaps it should go to another or a new thread.
 
Well I think it's admirable that Dave puts family before material possessions. They are more important and if things turn around and he can keep the boat, then that's gravy.
 
I will remain optimistic and hope that the right corrections will be made and recovery will follow. I will also try to find some advantages within this mess.
I really don't want to work again. I semi-retired at 46 and fully retired at 51. To have to work again might cause me to feel like a failure and be unhappy with my miserable life. I do have some worries with the kids but I think they did listen to me sometimes and should be able to handle what comes their way. I will help them as a last resort only. I never make things to easy for them.
 
wetpaint said:
I just got back from a great 4 day trip......Boating is still important for the mind.......With that said, I know many are in a very tough situation financially as everyone has taking a bath.....I got a new one torn into me the other day on this site because I said my opinion and what I feel to be the truth....The truth hurts! It hurts me too! In fact when I look how I have been running my business over the last 5 years in a loosey goosey manner because all was good and everything was great.....We will all (most) will be stronger, more disciplined and I believe accountable moving forward....Gary says it like it is and there is a lot of truth without feelings....I am not as optomistic about the market hitting 10,000 by christmas, but within 3-4 years I believe it will be back to pre-crisis value....Lets also look at market history....Now is a great time to buy into the pain of the market.....a well balanced portfolio and a disciplined person dollar cost averaging moving forward will be richly rewarded in 5-7 years.....If you put money in at 9:00 am this morning, you just made 6%......dont market time.......I have not looked in over a month at my portfolio....not important, anything in there is for 20 plus years down the road.....We will all be okay........Be patient
Click to expand...


Yes the market typically does work that way, but for some this is just not going to happen,

"anything in there is for 20 plus years down the road..."

If you are in your thirties or early forties, perhaps?

At this point I will be damn happy if I can get back to where I was before all of this crap-ola happened.
 
Think of it this way: if you invested $50k in Wachovia, Fannie Mae, Freddy Mac, Citibank, and Lehman Brothers stock one year ago, it would be worth about $2,000. If you invested $50k in a 2002 Sea Ray 260da (including one year's expenses), you'd at least have a boat that's still worth $40-something thousand.

Plus, you can't take your Wachovia stock out on the lake for the evening and watch the sun set with your best friends and family.
 
At the end of the day, markets go up and they go down - when dunderhead politicians decide they are smarter than the free market and decide they are going to play favorites with certain businesses and industries, the market and therefore the people suffer in the end.

I feel for anybody that is suffering big losses now - just as I envied those who had money in IRA's and 401K's before the tech bubble burst, and before the housing bubble burst - they were - as my grandfather used to say - heady times. And guess what? They WILL be back again - IF we do not meddle too much with the 'free' market.

When the pols establish a central planning bureaucracy that they have more confidence in than in the cumulative intelligence of the buying and selling behaviors of the market as a whole, that is where we find ourselves up the old brown creek without a paddle.

Hang in there! Don't sell all the bottom - this is the time where your brokers need to be ordered to Buy! Buy! Buy! There are incredible values out there today. Hang in there and there will be better times yet to come.

-Tim
 
Don't forget to buy American. If there is a choice, I go with "Made in the USA". Although I'm finding that harder and harder every year.
 
TurtleTone said:
Don't forget to buy American. If there is a choice, I go with "Made in the USA". Although I'm finding that harder and harder every year.
Click to expand...

Although I agree with you completely in theory, the problem is that a lot of items presented as "American" have little American content. They are just assembled here with the majority of components being sourced from elsewhere. Therefore,when I make a big ticket purchase I try to look at the content % . However,I won't buy a inferior product just because it waves the red white and blue.

Now back to the regularly scheduled programming.
 
I understand your pain. My husband works in an industry where he sells a service to mostly new business owners. Well, when people can't get loans to start a new business. Houston we have a problem!! Boating has taken a backseat right now to a lot of things, one and the most important being my son has baseball games on Saturdays, can't miss those they are 6-0 :) The second is well it is expensive to go to the lake for the weekend, we seem to spend more on food and stuff then we would just staying home. We apparently took this for granted and now are feeling a small pinch.

Hang in there....I know selling the boat wouldn't help. No one has $$ to buy it, besides by next summer when everything is back to normal we would be missing the boat. So we are hanging in there too. Don't feel alone.
 
You know Dave, the market will bounce back eventually. Just hang in there. As far as getting rid of the boat is concerned,thats a decision you have to make. However,if its paid for and doesn't cost you a truckload of money to own(not operate) then I would say keep it. If its eating you alive every month for payments,insurance,slip fees etc. then maybe its gotta go. But,that may not be all bad. You could downsize(I know thats not what most owners would want to do) into something more affordable. At least then you're not on the shore watching. Or you could use your knowledge/skills to earn the money reqd. to keep your current rig. You have options. Good luck and keep yuor chin up. Every cloud.....
 
Guys & gals, I found this online when I googled "10 reasons to go boating". Even though this only has 5 reasons, I really really agree with the author.

http://www.geocities.com/palmbeachboating/why_boat.html

At least the gas prices are dropping and maybe by next spring we can fill up our life style for less than $4 a gallon.

This next weekend is our final hurrah for the season. Weatherman says low 30's by Saturday......brrrrrrrrrrrr.:thumbsup:
 
To several who have posted, recall the original poster:

"I opened this thread not so we can argue about how to fix the economy or even what happened or who is to blame..."

I can blame your guy as much as you can blame my guy (and more, trust me, I'll win), so shut yer trap. Back on topic.

I live in Knoxville, TN, and Brunswick/SR have completely shut down production, with no restart date in mind. Maybe spring, maybe never. That's a lot of people out of work heading into the holidays. Very sad.
 
sdrevik said:
I live in Knoxville, TN, and Brunswick/SR have completely shut down production, with no restart date in mind. Maybe spring, maybe never. That's a lot of people out of work heading into the holidays. Very sad.
Click to expand...

Unless Brunswick itself goes under, I can't imagine that they wouldn't restart production at the Sea Ray facilities in Knoxville; Sea Ray is a flagship brand (pun intended) for Brunswick. Down time is when the engineers and managers plan just what changes they'll make when they do restart. They are likely doing the same sort of exercise that the auto manufacturers are doing, calculating how many boats are in the pipeline at their dealers and how quickly they can sell their existing inventory of finished boats in this economy, versus how long it will take to get production up and running and get new boats into dealers' stock when the demand is there. They may even think about redesigning their product line to accomodate changing realities, once they do market research to determine what the buyer will pay for.
 
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