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I was never into luxury cars, with the exception of a Tesla that I love I bought because I was interested in the technology more than in the car itself. But I

by pipio21 10y ago

I was never into luxury cars, with the exception of a Tesla that I love I bought because I was interested in the technology more than in the car itself. But I always dreamed about having a good yacht so after selling my first company I bought one. The person who sold it to me joked about two greatest days of owning a yacht: the day you buy it, the day you sell it. I did not understand at the time the second part deeply. But it did not take too long. The thing was a pain in the ass. Turns out the more beautiful the yacht, the more maintenance it needs, the bigger problems it has, the weaker it is against the elements and the bigger the storage you need to use, the more people it needs. After a while I realized instead of giving me happiness it was giving me frustration, anger and pain. Instead of me owning this thing it was the opposite, the thing owning lots of my time and money. In the end I just sold the thing and I felt like 100 kgs(200pounds) were taken off my shoulders and it was an amazing moment. In the future if I need sailing I will lend it instead. Being wealthy could be a trap. It is a good thing to have some psychological training first and prepare. Also learn about investing your own money, never trust others with your money, specially if they are the experts.

buzzybee 10y ago
I already feel burdened by electronic gadgets, so there's little hope in me caring about having a car or yacht. I'm not exactly a minimalist, but I have discovered that the "experiences not possessions" news trope does apply well to me. It helped that I started thinking about all things in terms of planning a design(what I'm doing and how) before buying anything. Besides making better decisions, it stops a lot of impulse buys. Usually the act of making the design tells me what I need to know, and possible alternatives. And the real bottleneck is often a skill I need to learn, not anything to do with money.
charlesdm 10y ago
Not sure where I read this, but you're better off chartering something if you are unsure whether you'd like it (e.g. to try it out). I have a friend, and his family owns a pretty large yacht. Finding a suitable and capable skipper that will stick around (e.g. more than a year or two) has often been a major source of frustration for them.
- dilemma 10y ago
  >Finding a suitable and capable skipper that will stick around (e.g. more than a year or two) has often been a major source of frustration for them. They must not be very good employers.
  - charlesdm 10y ago
    I think they're actually quite good employers (from what I've seen) and they pay well. The issue is that the yacht is used by people all year around, and there isn't much opportunity to not work. You're away from your family and the people you love, and so, by default, it's a limited time gig for most people.
mdekkers 10y ago
I used to have a boat. My late wife called it a hole in the water to throw money in, and she commented several times that it was cheaper to stand in the shower and rip up money. She was right on both counts, and I ended up giving the thing away.

by pipio21 10y ago

buzzybee 10y ago

I already feel burdened by electronic gadgets, so there's little hope in me caring about having a car or yacht. I'm not exactly a minimalist, but I have discovered that the "experiences not possessions" news trope does apply well to me. It helped that I started thinking about all things in terms of planning a design(what I'm doing and how) before buying anything. Besides making better decisions, it stops a lot of impulse buys. Usually the act of making the design tells me what I need to know, and possible alternatives. And the real bottleneck is often a skill I need to learn, not anything to do with money.

charlesdm 10y ago

Not sure where I read this, but you're better off chartering something if you are unsure whether you'd like it (e.g. to try it out). I have a friend, and his family owns a pretty large yacht. Finding a suitable and capable skipper that will stick around (e.g. more than a year or two) has often been a major source of frustration for them.

dilemma 10y ago
>Finding a suitable and capable skipper that will stick around (e.g. more than a year or two) has often been a major source of frustration for them. They must not be very good employers.
- charlesdm 10y ago
  I think they're actually quite good employers (from what I've seen) and they pay well. The issue is that the yacht is used by people all year around, and there isn't much opportunity to not work. You're away from your family and the people you love, and so, by default, it's a limited time gig for most people.

mdekkers 10y ago

I used to have a boat. My late wife called it a hole in the water to throw money in, and she commented several times that it was cheaper to stand in the shower and rip up money. She was right on both counts, and I ended up giving the thing away.