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Deciding between two boats, G3 185 VF and Alumacraft 185 Trophy
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<blockquote data-quote="LDUBS" data-source="post: 506257" data-attributes="member: 21536"><p>Thanks Sonny1. I also prefer using cash over credit. Being debt free takes discipline. When I asked the question, I was thinking in terms of us retired folk and why current world events should stop you from buying on credit. I agree managing debt is important, even during good economies. There are too many people making minimum credit card payments, late paying bills, and opening new credit cards to pay off the old ones because they bought too much stuff they just had to have. Also important, and something frequently overlooked, is planning for retirement in order to enjoy the golden years. </p><p></p><p></p><p></p><p>We can extend that to say don't buy anything considered nonessential, cash or credit, unless you can afford it. </p><p></p><p>I sure agree there is a balance between buying necessities vs toys and luxury goods. If I worried about depreciation, I wouldn't have most of the hard goods in my house. When it comes to writing a check, less will be spent buying a good used vs new boat. And of course, there is the enjoyment many here get from restoring their boats. Hard to put a $ value on that, but we know it is meaningful. Pure and simple, we have our boats because we enjoy them. </p><p></p><p>Before the current inflation, buying real estate with a loan would have been a good idea compared to paying cash because mortgage rates were so low. In general, deep pocket guys got to where they are because, besides working their a$$es off, they know how to manage finances, including debt.</p></blockquote><p></p>
[QUOTE="LDUBS, post: 506257, member: 21536"] Thanks Sonny1. I also prefer using cash over credit. Being debt free takes discipline. When I asked the question, I was thinking in terms of us retired folk and why current world events should stop you from buying on credit. I agree managing debt is important, even during good economies. There are too many people making minimum credit card payments, late paying bills, and opening new credit cards to pay off the old ones because they bought too much stuff they just had to have. Also important, and something frequently overlooked, is planning for retirement in order to enjoy the golden years. We can extend that to say don't buy anything considered nonessential, cash or credit, unless you can afford it. I sure agree there is a balance between buying necessities vs toys and luxury goods. If I worried about depreciation, I wouldn't have most of the hard goods in my house. When it comes to writing a check, less will be spent buying a good used vs new boat. And of course, there is the enjoyment many here get from restoring their boats. Hard to put a $ value on that, but we know it is meaningful. Pure and simple, we have our boats because we enjoy them. Before the current inflation, buying real estate with a loan would have been a good idea compared to paying cash because mortgage rates were so low. In general, deep pocket guys got to where they are because, besides working their a$$es off, they know how to manage finances, including debt. [/QUOTE]
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Boat House
Deciding between two boats, G3 185 VF and Alumacraft 185 Trophy
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