OldDan1943
Guru
- Joined
- Oct 2, 2017
- Messages
- 10,649
- Location
- USA
- Vessel Name
- Kinja
- Vessel Make
- American Tug 34 #116 2008
Every time I start to stiffen up, I go crawl around the engine room. SMILE
Agree boating helps keep us in shape and is a form of exercise and healthy. i just heard about a Nordhavn owner finally selling his boat at he age of 80. not a bad run....
I'm hopeful learning to sail will provide the source of exercise I need to remain in shape while also learning something new and challenging. Who knows what may follow in a few years.
Only 80 and he gives it up? I'm 85 and still doing all my own boat work, boating 12 months of the year and competing in Predicted Log contests.
Well, I guess we should all be like you then.
I must fail at life since I’m only 63 and am about to pay to have someone detail my boat since my back can’t take the work. Maybe I should just quit this whole boating thing…?
I am 78 and have discovered, naps are wasted on the young.
Hour or 2 nap, I am good till 10pm bedtime after my cognac but then, I wake up about 5am.
I figure I am good for 2 more years is I dont stroke out.
I am 78 and have discovered, naps are wasted on the young.
Hour or 2 nap, I am good till 10pm bedtime after my cognac but then, I wake up about 5am.
I figure I am good for 2 more years is I dont stroke out.
John, I have totally enjoyed following your journey's to the point that I finally joined this forum. Mainly because I have never read a string that could go 50 plus pages and everyone remained civil and respectful. I have a question though. You stated that your original 38E plan was to truck it to the East coast. Is that really doable for 14 foot wide boat and if so did you ever get a cost estimate. If that makes sense then I can start including some eastern vessels in my search to truck to the west coast.
John, I have totally enjoyed following your journey's to the point that I finally joined this forum. Mainly because I have never read a string that could go 50 plus pages and everyone remained civil and respectful. I have a question though. You stated that your original 38E plan was to truck it to the East coast. Is that really doable for 14 foot wide boat and if so did you ever get a cost estimate. If that makes sense then I can start including some eastern vessels in my search to truck to the west coast.
No problem shipping the boat overland (done all the time). Ballpark cost a few years ago was $15K. I'm sure it's more today. Good thing its only money and you can't take it with you.
And you would be wrong. At death, all assets go into the estate at the value at date of death or six months earlier. The stock gets a stepped-up value such that, if it were sold at the same valuation there would be no taxable gain or loss. If the total value of all estate assets does not exceed $12 million dollars ($24 million for a married couple), there is also no estate tax.Sell stock, you pay a healthy tax on the capital gains.
If I recall, upon you death, tax free on $500,000 and a very healthy tax on the capital gains to Feds and state.
Aint life grand?
John, you post gives meaning to those immortal words spoken by Ratty in 'Wind in the Willows'. Y'all know how that goes. My Lotus had it on a small plaque right behind the main helm.......While I'm not sure what the future holds for me and sailing I am realizing a few positives with this decision which I'll share in case anyone else decides to go against the norm or current and switch from power to sail or just downsize.
1. Smaller investment - Despite buying a high quality, well built boat with great classic looks (people stop us every time we go out asking about the boat) it was not that expensive allowing me to pay cash. No loans is great.
2. Trailering the boat is not new to me but it has been 20 years so I had to get use to it again. No big deal and being able to store the boat in the garage is dream. No dock fees and being to work on the boat anytime I want.
3. Electric engine with custom installation has worked out great so no diesel or gas to mess with.
4. I don't feel like I need to take the boat out to justify owning one. I go when I feel like it.
5. Day boating is much less stress than the larger trawler and longer trips.
6. I don't worry about weather, if its windy of chilly I stay home.
7. Adding to the boat is minimum but what I do add is not expensive.
8. The adventure of learning something new is priceless and what makes boating fun. Each time out I challenge myself a little more.
Just thought I would share these observations in case anyone was thinking about downsizing.
John
And you would be wrong. At death, all assets go into the estate at the value at date of death or six months earlier. The stock gets a stepped-up value such that, if it were sold at the same valuation there would be no taxable gain or loss. If the total value of all estate assets does not exceed $12 million dollars ($24 million for a married couple), there is also no estate tax.