Has the stock market changed your boat plans?

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Tim Schaaf

Reminder

I am in a safe port in the Marine Industry, so I plan no spending changes...however, all the wonderful comments more or less reminding people to follow their hearts hit home. Time to get real about cruising again. Thanks, folks.
 
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Tom

Stock Market -- OUCH !

It kills me everyday to see the slide. I kick myself thinking what I had a year ago...( I could have bought almost any boat within reason)...But that's life...easy come easy go....Where the stock market is now and where I am now I know I wouldn't have bought (OK...mortgaged) the boat I got last August. But......with that said, I wouldn't sell that boat for the world. I love it and love being on it and love working on it and scraping my knuckles and getting paint all over me and all the other great things boat ownership brings. I would sell other things and take huge losses just to own my boat. So I plan on doing what I was going to do.....and pray the market will recover so I can pay dock fees for next summer..;-)....(Thank God I use so little fuel)
 
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Justin - O'day Owners' Web

Do any of us do it because its financially sound?

Nah - Broke student anyway! Justin
 
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A financial rep in Montgomery, AL

Don't panic!!!!

I can never figure out why people don't see the bright side to a down market. This is the time to buy. Even if you bought a year ago and lost a little. Buying low now and using the dollar cost average principal will reduce your price per share (100 shares of XYZ at $15 and another 100 at $5= 200 shares of XYZ at $10). When is the last time you could buy Nike, Phillip Morris, Intel, AOL, McDonalds, and more at these bargains? I'll tell you...At their IPOs. One word about the next week...RALLY. Buy stocks that are in the low end of their 52 week range and take a good look at energy and petrols (California will back me up on this). Ride it out, don't sell, buy good deals, and start looking into that Carribean charter...
 
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Just another sailorman

Please Al, no advice

Al, although I acknowledge your opinion on the market and your right to have it, please let's not turn this thread into a discussion or argument on how to invest in today's market. I find it amazing that the majority of respondents seem to have a 'market be damned" philosophy. Perhaps the boating community is far more wealth-independent than I ever imagined. BTW, Al, I sincerely hope you're right about a rally next week. I'd love to recover a few more cents on my dollars.
 
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Dan Tobin

More sailing, less surfing...

Like others on this thread, I bought my boat last year after cashing in some stock options, which I couldn't do very effectively this year. I plan on spending MORE time sailing and LESS time surfing the net watching the market. I going to let Fidelity worry about my investments this year...
 
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Joe Spinoza

Al, Not panicking.......

But I find it funny when you say " Even if you bought a year ago and lost a little" ?!?!...Is losing 73% of your investments a little???. Just think if you put $100,000 in a Nasdaq Stock Index last March when it was around 5200 it would be worth about $36,500 with the index today at around 1900. You are right when you say this is a buying opportunity, but that's if you had any money left. All those financial analysts on Wall street said the bottom was last Dec. <LOL> Thank God I'm frugal and live well within my means. I will always try and go sailing. Just think of the down payments we could have for that bigger boat if we took it out a year ago and instead of left it in the market.
 
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Guest

To "Just Another"...

Sorry if you are offended or put out with me posting my thoughts and trying to put a few people's minds at ease, but I don't remember seeing any rules on the direction this thread had to go. While you may not appreciate my advice, maybe others do (maybe they don't). Who cares? My point, and sorry if it was a little too abstract, was for people not to cancel their plans just because the market took a nose dive; it will come back (it always does).
 
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Rick Webb

Wow

I had not realized how freaked out folks were with the turn the market took last week. Al Montgomery I appreciate your sentiments and am calling my agent and putting even more money into my fund so that the fund manager can take advantage of everyone's fears. BTW you sound like an USPA/IRA guy.
 
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Dale Wile

The pain of it all.

For those of us who are retired and who depend, in part, on income from a lifetime annuity which is invested in stocks, this hurts significantly. I've got an invitation into Mr. Greenjeans to go sailing with me. "The cement block is just for the weight, Alan." Dale Wile Sandpoint, Idaho
 
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Duane Cady

Choose your Black Hole

I bought my boat with stock market winnings last may. From that point, I watched as my portfolio dwindled to about half. That got me asking myself where all that money goes ? Its a black hole ! Boats are supposed to be black holes for cash too -- but the satisfaction I get out of putting money in my boat far outweighs anything else. I wouldnt have done it different. If it werent for the market, I wouldnt have my dream come true as it did. Now that its down, and cutting deeply into my (meager) principle, it doesnt bother me. I have put off pulling the boat til next year. Everything else is going on as it would any other time. And whoever busted the guys butt for giving (correct) market advice, please lighten up. Its intent that counts, and his was good. Ive been sailing since mid-February, and Im not gonna stop now. Duane s/v Jenny-D 1983 H31
 
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Foamy

Wealth is wasted on the rich

I'm almost at the double nickel (August 10th) and have enjoyed life to the fullest. Most of the most unhealthy and unhappy people I have know could buy and sell my portfolio ten times over, and I wouldn't trade my life experiences for their wealth for any thing. Let them worry about their declining wealth, when in fact they should worry about their declining health...as I've said many times...wealth is wasted on the rich. In my home port of Dana Point, the bigger the boat the less it's used. Go figure!!! Let the good times begin...Ensenada Race in April...Transpac in June. Foamy, s/v sanguyne
 
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Tom

Foamy I agree on your statement about

" the bigger the boat the less it's used. ".... It's the same here. There are rows of gorgeous boats sitting there and I never see them taken out. I even asked the marina dock boy if he saw them out and he said almost never .....Then he commented...."maybe they're too busy trying to make enough money to pay for it and the other expensive toys they have". Maybe you are right, wealth is wasted on the rich....but I'd sure like to try my hand at it ;-)
 
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Harvey Small

Sail More!

Stocks are down, so I guess I'll just stop worrying & go sailing! And when the stocks pick up, I guess I'll just be happy and go sailing. That's what's known as a win win situation. I'd explain more, but spring is here & I've got to get the boat fitted out & launched...
 
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Melody Miller

Stock Market Destroyed my Plans

Hi Guys and Gals: Not to flame the good folks on this forum, but I was looking at an 83 Sabre 28 . . .Daydreams was her name. Over the past two years, I made a list of features I want in my next boat, and Daydreams had all except one. If the market wasn't in the tank, that boat would be in my slip now. . . . I still think about that boat . . <sigh> . . but someone else (with a better portfolio I'm sure ) bought it. Melody
 
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Mr. P

Oppertunity on the way

I will admitt I've taken a bit of a spankin. But learned a couple of good lessons. My broker at MSDW only cares about one thing . That is himself not my net worth. I"m on the side lines now waiting making my 5 to 6 % in a money market.But the best buys are still to come on stocks and those boats that the selfesh brokers will have to sell!
 
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Deja Vu

Go Figure!

The first edition of the book was written in 1940. The book's title, "Where Are The Customer's Yachts". Some things never change.
 
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