Jelly runs rampant in a thread such as this......I'm boatless now, but I'll be buying before long. But I'll never buy a new boat, ever, when so many good 1-3 year olds are out there to be purchased. Lots of folks are hurting right now because they cannot get out from underneath them like they're used to doing. Most buyers are still holding tight to what money they have. Note to sellers....make your first cut your biggest cut if you're really interested in selling. Then call me.
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No doubt! There are a LOT of opportunities for out there right now for young adults that make a commitment to a technical education and see it through. I've been an engineer since 1982 and the pay scales today even when adjusted for inflation over time are way better than when I graduated. I own my own company now (S.E.) and we need to offer a six figure package to pick up and keep a competent new-hire. It makes the five years of busting your ass and living poor well worth it once they're out.Originally Posted by Ranchhand02
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The vast majority of Americans are simply broke and in debt out their ass. The average American doesn't own a bass boat and have a man cave full of toys. Lots of people on this board have proven time and time again for 20 years that they're out of touch with normal people. We're living in a time with the highest amount of personal credit card debt in history. Just because the people on here can afford $500 rod and reel combos doesn't mean that's how it is everywhere, this is a little bubble that lots of guys obviously never get out of.
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The biggest difference between the "can afford" vs "can't afford" is simply priorities. An uncle of mine used to say how my aunt "would go out and waste money on baby formula when she knew there wasn't a drop of whisky in the house" lol.
It is easy to go broke trying to look rich.
Its just as easy though to look foolish trying to assume you know everyone else's financial situation.
That would make a good plaque. I work with a young guy in his late 20's. He and his wife have nice stuff. 2 new cars with payments. They just got granite counter tops-financed. A year ago there got all new matching kitchen appliances- financed. Last fall they updated their living room furniture- financed. They had hardwood floors installed- financed. He wanted a zero turn riding mower- financed. As long as they can make the minimum payments they think they can "afford" it.
I told a young kid I work with . It is better feeling to have the money to buy the nicest car in the parking lot than to drive up in it.
It’s very simple. Some people can afford them and some go way deep in debt.
You speak the truth on this. That bubble you speak of is a toxic place to be. What many on here seem to think is "normal" may as well be unobtanium to the masses. I know a glitter sled nearing 6 figures is unobtanium for me.
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Treat others like you want to be treated when on the water EVEN WHEN IN A TOURNAMENT! No fish is worth having a confrontation because you cut someone off or came in on top of someone.
A friend of mine told me yesterday that his wife is purchasing a watch...$30k
People have no idea how many 30 year olds in tech and finance are getting paid at very high levels and have net worths in the low million dollar range based on their stock options. Now whether these people are in the market for bass boats is another question. I think they likely represent a very small segment of the bass boat market. Most likely the people that own their own small business represent a bigger part of bass boat purchasers than the tech and finance bros.
Stock options is the key there.... With 1/3 of govt bonds about to mature, the government spending shutdown, and this mess of an election year. There is a huge chance of economic collapse, stock market falling dramatically, in which most baby boomers 401ks are based off of their financial advisors investing in buying debt to get huge returns. As soon as this happens, money spent will be scare. It will get a lot worse before it ever gets better.
Some people have money and some, probably the majority, is in debt up to their eyeballs.
I remember the same thread when tour level equipped boats, which none of us really need to have, were 60-80K
Last edited by dean c; 02-28-2024 at 10:08 AM.
It's easy . You just write a check for it
Most people that have enough money to pay for one got there money by being smart with it. It was not investing in something that loses at least 10% a year for the first three years.
I looked at a site that tracks layoffs. It stated there have been 82,000 layoffs so far in 2024 the highest level since 2009. Most of this is concentrated in the finance and technology space so many of those stock options, especially in the startup space, may not really be worth what they are today. Also many of these options are locked up and not very liquid. I would think most boomers would have a healthy allocation in bonds but given what the market has done over the last 10 years they may be too heavy in equity. At then end of the day, if you have a large enough portfolio and don't spend like crazy then it a 30-50% drop may not be the end of the world, especially if you are primarily living off the income it generates.
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