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View Poll Results: How much of your savings would you spend?
Less than 50% 40 85.11%
Between 50 and 75% 6 12.77%
100% or slightly less 1 2.13%
Voters: 47. You may not vote on this poll

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Old 05-09-2018, 05:17   #91
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Re: Which % of saving would you spend for your cat

Quote:
Originally Posted by Cadence View Post
I'll agree with you on breaking a rudimentary rule, today. Not 50 years ago.
I'm betting your great grandma knew the saying about "keeping all your eggs in one basket".

Diversification is not a new idea in investing...and no matter how much the OP tries to justify it, he's taking a risk. That risk may never materialize into a loss but if it does, he will be very unhappy...

But that's his choice and he seems intent on making it, so I will wish him well and hope he never receives that bad news.
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Old 05-09-2018, 05:36   #92
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Re: Which % of saving would you spend for your cat

The OP is 31 years old and I’m sure will have time to make up for his loss if that so happens.
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Old 05-09-2018, 05:45   #93
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Re: Which % of saving would you spend for your cat

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The OP is 31 years old and I’m sure will have time to make up for his loss if that so happens.
He also asked for advice presumably so he doesn't have to learn the hard way.
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Old 05-09-2018, 09:56   #94
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Re: Which % of saving would you spend for your cat

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Originally Posted by valhalla360 View Post
I'm betting your great grandma knew the saying about "keeping all your eggs in one basket".

Diversification is not a new idea in investing...and no matter how much the OP tries to justify it, he's taking a risk. That risk may never materialize into a loss but if it does, he will be very unhappy...

But that's his choice and he seems intent on making it, so I will wish him well and hope he never receives that bad news.
I agree with diversification, but depends on what you are investing. Can you remember if anybody ever went broke owning (owning, not having a property got borrowing money), i can't recall and even if up and downs happen if you own your property i can't imagine a loss in the long term. Around 8 years ago i was close to invest in Miami, bottom real estate market, i didn't.....look at it now....
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Old 05-09-2018, 09:57   #95
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Re: Which % of saving would you spend for your cat

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Originally Posted by smj View Post
The OP is 31 years old and I’m sure will have time to make up for his loss if that so happens.
I was 31 16 sweet years ago.
It's not my intention to go broke for a boat.....this is also why i am asking as it'ssomething totally new for me.
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Old 05-09-2018, 10:16   #96
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Re: Which % of saving would you spend for your cat

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Originally Posted by riki View Post
I agree with diversification, but depends on what you are investing. Can you remember if anybody ever went broke owning (owning, not having a property got borrowing money), i can't recall and even if up and downs happen if you own your property i can't imagine a loss in the long term. Around 8 years ago i was close to invest in Miami, bottom real estate market, i didn't.....look at it now....
Cant imagine a loss in the long term? Remember the mortgage crisis...plenty of people lost their ass in that one (not just mortgagees...paid in full properties took huge devaluations too...some areas recovered)...and Katrina...lots of folks stiffed by insurance companies and parts of NOLA still in ruins...auto industry collapse: I doubt Detroit real estate has recovered from that...3 Mile Island...Fukushima...

Agree that paid in full real estate is a relatively low risk investment, but it aint no risk.

Also depends on venue: Central American real estate can evaporate right out from under you!
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Old 05-09-2018, 10:16   #97
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Re: Which % of saving would you spend for your cat

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Originally Posted by riki View Post
I was 31 16 sweet years ago.

It's not my intention to go broke for a boat.....this is also why i am asking as it'ssomething totally new for me.


Sorry, wrong OP. But your still young enough for recovery!
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Old 05-09-2018, 10:47   #98
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Re: Which % of saving would you spend for your cat

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Originally Posted by belizesailor View Post
Cant imagine a loss in the long term? Remember the mortgage crisis...plenty of people lost their ass in that one (not just mortgagees...paid in full properties took huge devaluations too...some areas recovered)...and Katrina...lots of folks stiffed by insurance companies and parts of NOLA still in ruins...auto industry collapse: I doubt Detroit real estate has recovered from that...3 Mile Island...Fukushima...

Agree that paid in full real estate is a relatively low risk investment, but it aint no risk.

Also depends on venue: Central American real estate can evaporate right out from under you!
Yes, indeed there isno zero risk in anything in life, even waking up in the morning: as you said, beside very special localized properties, real estate is a very low risk investment. Of course, who bought a palm tree kiosk in the bvi should know since the beginning what investment was that....
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Old 05-09-2018, 10:48   #99
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Re: Which % of saving would you spend for your cat

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Sorry, wrong OP. But your still young enough for recovery!
Thanx for the confidence but hope never have to experiment.
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Old 05-09-2018, 11:11   #100
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Re: Which % of saving would you spend for your cat

Less than 50% into the boat.


New or old, boats boats sponge any money before you get it all set up and going. This is normally about a year o two into ownership.


Costs/-wise, boats are much less predictable than cars and so your markup should be higher.



b.
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Old 05-09-2018, 11:30   #101
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Re: Which % of saving would you spend for your cat

Quote:
Originally Posted by riki View Post
I agree with diversification, but depends on what you are investing. Can you remember if anybody ever went broke owning (owning, not having a property got borrowing money), i can't recall and even if up and downs happen if you own your property i can't imagine a loss in the long term. Around 8 years ago i was close to invest in Miami, bottom real estate market, i didn't.....look at it now....
Personally I would not put my eggs in one basket, and certainly not in a country like Greece. But then nothing is risk free.


This thread reminds me of King Guppy and his financing ideas. Can work out favourably, but is outside the risk tolerance of most responsible people I know.
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Old 05-09-2018, 11:35   #102
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Re: Which % of saving would you spend for your cat

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Originally Posted by rabbi View Post
Personally I would not put my eggs in one basket, and certainly not in a country like Greece. But then nothing is risk free.


This thread reminds me of King Guppy and his financing ideas. Can work out favourably, but is outside the risk tolerance of most responsible people I know.
IF i am not wrong the other OP talks about stock exchange: personally i would not even compare real estate with stocks.
As for where to buy, i have a very simple rule (that actually also fit stocks): buy low sell high......today i feel much more comfortable investing in Greece than in many other EU countries (that only apparently are doing well).
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Old 05-09-2018, 11:36   #103
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Re: Which % of saving would you spend for your cat

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Originally Posted by belizesailor View Post
Cant imagine a loss in the long term? Remember the mortgage crisis......auto industry collapse: I doubt Detroit real estate has recovered from that...
Just a side note, Detroit real estate not only recovered, the past 5 years have been an unprecedented "goldilocks" era for the area. Sustainable, not sure, but nobody knows...but if you were shrewd enough to buy in at the depths of the carnage you've done extremely well, or if you simply just held on you are up vs. 2007.

To the OP's original question I have a simple rule for not going broke: depreciating assets make up no more than 5% of your net worth. Now if this is also your home (and you don't own another one) I can see stretching it to at the crazy high end 15%, but admittedly I'm conservative because I like knowing I don't have to go back to work and will not go hungry. If your time horizon isn't a 30+ year retirement, I could see inching the percentage higher, but for a 40 something dude who is healthy not so much.
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Old 05-09-2018, 11:47   #104
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Re: Which % of saving would you spend for your cat

Quote:
Originally Posted by riki View Post
IF i am not wrong the other OP talks about stock exchange: personally i would not even compare real estate with stocks.
Not as volatile, but both have seen bull markets for a decade.

Quote:
Originally Posted by riki View Post
As for where to buy, i have a very simple rule (that actually also fit stocks): buy low sell high.
Like anybody else. The only problem is to identify the highs and lows.


Quote:
Originally Posted by riki View Post
today i feel much more comfortable investing in Greece than in many other EU countries (that only apparently are doing well).
Its an inmovable asset in a broke country. No my cup of coffee.
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Old 05-09-2018, 11:48   #105
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Re: Which % of saving would you spend for your cat

With the title being “you” I’m guessing you’re trying to gauge what other people think about when making a catamaran purchase.

With that being said, let’s say that the lowest cost of a sailable catamaran is around 60k. I’m thinking 80’s early 90’s Gemini. With a budget of 100k and If I wanted one of those I’d say 70% is what I’d spend, but I don’t. I would be looking at old Prouts, FP’s, and PDQs. The cost of those is I guess 90-100k but more likely 120k, so I would use “close to 100” if I was not going to finance.

The reality here is that I would be looking for a long time and most likely exhaust most of my savings if I was set on a catamaran but I’m not and would start off with a monohull using a maximum of 60%.
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