Author Topic: Moneysense "Smart Spender" Article  (Read 3149 times)

sleepyguy

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Moneysense "Smart Spender" Article
« on: June 14, 2014, 09:20:19 AM »
As much as I like their magazine, sometimes I just gotta laugh at some of their articles... last year there was something about buying a vineyard, lol.  They have FANTASTIC articles about tax and index investing btw, even some about teaching kids about budgeting, etc... and this is some of the garbage articles that are far and few between.  It's a Canadian consumer budget/finance magazine btw.

Talk about the most ridiculous words... moneysense and yacht in the same sentence.

http://www.moneysense.ca/property/vacation/fractional-yacht-ownership-the-up-and-down-side

"Your own semi-private yacht
Canít afford a $2-million yacht? Sharing ownership gets you access to the boat of your dreams for a price thatís almost reasonable."

LOL
« Last Edit: June 14, 2014, 09:21:57 AM by sleepyguy »

frugalecon

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Re: Moneysense "Smart Spender" Article
« Reply #1 on: June 14, 2014, 09:52:09 AM »
And here I thought I was a smart spender this morning because the Costco coupon book knocked 10% off of my total.

Mississippi Mudstache

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Re: Moneysense "Smart Spender" Article
« Reply #2 on: June 14, 2014, 10:26:46 AM »
I just gotta laugh at some of their articles... last year there was something about buying a vineyard, lol.

Okay, so there's obviously nothing "reasonable" about owning a yacht, fractional or not. But a vineyard can be a great investment, if you have the appropriate knowledge to value and manage it. It's really not much different from any other agricultural land- whether it be row crop, pasture, orchards, or whatever. I actually know a man who got rich by convincing a banker to give him a $5 million loan to buy a peach orchard in South Carolina. He paid off the loan with profits from the orchard in 5 years. He obviously knew what he was doing, and that's the basic point.

sleepyguy

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Re: Moneysense "Smart Spender" Article
« Reply #3 on: June 14, 2014, 03:13:56 PM »
Ah good point, probably a good investment for the wealthy.

I just gotta laugh at some of their articles... last year there was something about buying a vineyard, lol.

Okay, so there's obviously nothing "reasonable" about owning a yacht, fractional or not. But a vineyard can be a great investment, if you have the appropriate knowledge to value and manage it. It's really not much different from any other agricultural land- whether it be row crop, pasture, orchards, or whatever. I actually know a man who got rich by convincing a banker to give him a $5 million loan to buy a peach orchard in South Carolina. He paid off the loan with profits from the orchard in 5 years. He obviously knew what he was doing, and that's the basic point.

Jamesqf

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Re: Moneysense "Smart Spender" Article
« Reply #4 on: June 15, 2014, 12:31:02 PM »
So what exactly is unreasonable about owning a yacht, if sailing is what makes you happy?  Is it really all that much different from e.g. living in Hawaii and getting up early to go surfing every morning?

vegasdude

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Re: Moneysense "Smart Spender" Article
« Reply #5 on: June 15, 2014, 12:47:21 PM »
Can I get a 10% ownership stake in a 1995 17' Bayliner? I'd be down for that.