Stock Market is the bottom in?

[homerj]

$2M today isn't even the $1M of 2000. Ain't nobody in their 40s or 50s buying a yacht and kickin' it at $2M

 

[Telemark]

$2M today isn't even the $1M of 2000. Ain't nobody in their 40s or 50s buying a yacht and kickin' it at $2M

I'm never buying a yacht. I'm buying a fishing boat.

A Roth IRA with 2 million at a 5% dividend rate is 100k in cash per year, tax free. I can easily live on that with some left over to reinvest.

 

[Bill]

I have a decent boat and I’m going to be OK. But my son and I drive by some really big sport fishing boats. Like $5 million dollar boats and dream.

Not happening for me but I tell him good for them! That’s capitalism. If we lived under socialism we’d all be on the bank of the ocean wishing we could cast further.

 

[Foggy47]

$2M today isn't even the $1M of 2000. Ain't nobody in their 40s or 50s buying a yacht and kickin' it at $2M

At nearly 80 now...and with the ability to own a yacht (maybe a small one?)....I can truthfully say "I do not want one". Just another money pit and high maintenance item that one can do without. Still, I can appreciate someone that wants to achieve such status.....more power to you. For me, Life's simple pleasures are still foremost....and sometimes hardest to find.

Maybe that yacht would be a dream if I lived at the ocean? But, at this point in time, I don't think so.

 

[Foggy47]

Some folks down the lake from me are pretty rich. He owned Deluxe Check.....when checks were hot and he had that market pretty much to himself....and then sold at the right time. Made many millions. They had built the largest aluminum hulled yacht in the world (?) at that time, I think. ....and travel the globe with it....often flying to meet the yacht in distant lands for a sail. Seems to me he paid over 20 million for it...after a two year build. This was about ten plus years ago. Had a crew of about 7 or 8 and a chef that traveled with them, etc. They also owned BIR for their son (whom later died diving off that yacht). Nice people.

He would rather spend his days at the race track....and loved all things mechanical. Not sure where they are these days....but really nice people with waaaay too much money. I think they were living in Naples, FL and "gave" the track to his son's wife. Strange knowing someone like that. You would not know they were loaded like that. Not sure they were any happier than the next guy.....but they were nice folks.