No. You should not buy a yacht. You can't afford it.
"But Cody, I totally have the two million dollars to buy an entry level yacht"
I don't care. You can not afford it.
Source: Picture of my uncle's yacht, Sojourn against an Alaskan glacier.
Can you afford to spend 20% minimum of the purchase price annually on maintenance, docking, and crew?
Do you have enough liquidity in your other assets so that if an emergency came up you would not have to sell the yacht to cover them?
Are you buying it as an investment in the hopes it will go up in value, or it is a stable store of value for your money?
Yes
Yes
No
If your answers were different than that, don't buy a yacht. And if your answers were the same just think.....do you really really really really REALLY want one.
This has been an important lesson in not being a dummy with your money.
Please like and upvote. And if you have a yacht...can I please use it for free?
@realcodysimon but how else will i survive global warming?
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How did your ancestors come to America? A big truck tire or something?
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na, a flying metal tube in the sky.. give them some credit for being creative
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Yes buy a yacht. I need one. haha
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^Why not? i like boats
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A yacht is a huge liability, for all the use they see it's incredibly expensive.
That's why you can rent just about every yacht in the world, to offset these costs.
It's not cheap, but why not throw 100k a week at a nice yacht, invite all your close friends and enjoy. have fun, then walk away.
Just my 2 cents worth :-)
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Totally agree. Rent, don't buy. Let someone else deal with all the liability ;)
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I can not agree more I my self have a few yachts but let me tell you if I was not in the yacht rental business i would never own a yacht endless I had money to burn. I am only saying with maintenance marina fees captain and crew it tends to get expensive. @YachtCharters
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