Want to Buy a Power Boat?

Don’t.
The cost of owning a power boat is enormous. It can cost as much as a small home, but that only buys you the right to keep dumping more money in. Taxes. Repairs. Cleaning. Fuel to operate your boat. A truck to pull your boat to the water. Fuel for the truck. Storage cost. The time and PITA factor involved with all the maintenance.
For me, not worth it.
I have a suggestion. Become friends with someone who owns a massive boat. Or encourage a family member to financially over-leverage themselves by indulging in a boat purchase. Then invite yourself to enjoy the lake on their boat. The photo below is me piloting my brother-in-law’s boat this week near Park City (Utah).
CD2FF299-7D49-4069-A239-8D7B2260B5ABThis strategy works with building a business, learning a new skill, or creating a new investment portfolio. Use the slack resources of people in your network until you start making progress and can justify full independence.
  • Borrow books
  • Read blogs such as this one
  • Move equipment into unused storage space
  • Ask to use leftover materials/paint/ paper/printing press
Experimenting with a creative project can take a long time. Don’t run out of resources before you begin building momentum.
(Note: no friends or family members were bankrupted in the creation of this blog post.)
What are the costs involved with your planned creative project?  Can you outsource any of those costs through borrowing a resource?
Any recommendations for others?