some simple rules for a stress free life
NEVER borrow to buy a depreciating asset. Don't insure liablities, this includes your wife and kids. Buy the boat you need not the boat that looks good at the dock. Be realistic in how much time you have to use the thing. I would like a newer, bigger and shinier boat but I walk by really nice boats suffering from benign neglect on the way to my boat which might not be pretty or the latest and greatest but it's mine and it's paid for.
NEVER borrow to buy a depreciating asset. Don't insure liablities, this includes your wife and kids. Buy the boat you need not the boat that looks good at the dock. Be realistic in how much time you have to use the thing. I would like a newer, bigger and shinier boat but I walk by really nice boats suffering from benign neglect on the way to my boat which might not be pretty or the latest and greatest but it's mine and it's paid for.