Uh Oh III

I really appreciate the thoughts in this discussion and have been looking at the next chapter in my life. [ Maybe a 36 hr work week retirement] I am planning for inflation and making decisions about items that I an afford now that may be important in the next 3-5 years. To add a new item I try to let one or two older items go to good will or Craig s list. since for me less stuff gives me the asset of time not spent on managing stuff.

The major point I wanted to make however is there is one investment that you cannot loose on - no tax on the appreciation or capital gain, no accountant to figure out how to write it off:

Health investments:

When times are tough it is really important to stay healthy because it allows us to do things for ourselves rather than pay someone else.

I suggest investing in:
Shedding a few pounds
Lowering the LDL Cholesterol and Triglycerides
Raising the HDL good cholesterol
Normalizing the Blood pressure: exercise and diet help
Checking our fasting glucose level and keeping it well below the 100 or pre-diabetes mark.
Increasing exercise [like walking and wt lifting] up to close to one hour per day several days per week [after you get clearance from your doc. ]
Keep up with your dental care,
Get the recommended preventative health screens, breast exams, prostate exam, colonoscopy, and a total body skin check for cancer once per year. [more often if you have lesions].
Update your immunizations
Consider the other preventative measures - aspirin, Omegas 3 fatty acids and Vit D3 [only if recommended by your doctor]
Do daily mind work -
Laugh a lot -
Invest in friendship and family relationships
Plan more adventures -
Thanks
Jim
 
jstates":xpsxg305 said:
Health investments:
When times are tough it is really important to stay healthy because it allows us to do things for ourselves rather than pay someone else.
Jim
Click to expand...

You are "spot on" with this assessment Jim!

On a daily "work" basis, I see many individuals that no matter how much money they have, they can do nothing more than sit in a chair tethered to an oxygen supply and watch TV. A good number of these folks are younger than me. It is difficult to enjoy life without good health!
 
Yes, the C-Brat family shares a number of characteristics.. (and I include myself even though the Ranger line is now separated and it is only by sheer chance that I did not get a TomCat)
As was noted above, I also got my letter saying that Uncle Sam is going to cut the SS that I have paid into every year for 52 consecutive years, just because we have worked hard and saved carefully - they apparently need to give the money to people who didn't do that...

And I purchased my boat by making boat payments for ten years - without having a boat - which meant that I had cash when I did finally got one...

Like others on here we are drifting into retirement.. I have a handshake agreement as of yesterday to purchase my business - we will see if the contract resembles, even remotely, the handshake, when it comes...
-- - so not a done deal yet ---
 
Denny-O,
Hope all goes well with your hand shake deal. I just wrapped up a similar deal and am now "officially" retired.
Fellow Brats...the information shared on this site never ceases to amaze me. The attitude of the general Brat population causes one to reflect on why we do what we do. Boating, wheather it be on a 16, or 225, or a tug, is a common thread bonding us to, IMHO, the most enjoyable part of our lives. Brenda, Gypsy and myself now are able to pursue a dream we have shared for a long, long time. The highlite, thanks to Brother Byrdman, is still meeting the Brats. When I look back over the past 37years, I am surprised to see an ostritch. I have had my head in the sand. A 25 year National Guard career and growing into business owner ship, have all but consumed me as I flew through years at light speed, failing to stop and smell the roses. Well, those days are behind us now. B and I are spending the next month in not-so-hot pusuit of the dream...the Great Loop!
Thank you all for sharing your knowledge and friendship with us. We are excited, and look foward to meeting more of you and please, call us along the way as we learn how to operate the computer, camera and stuff we haven't taken time learn! my cell: 615-218-9428.
Thanks Again,
Mike
 
Wow, Bill and El got it going on this one!
On a personal note, my suplimental health plan tripled in price, and the shock of this is disturbing because how can you plan for the unknowns? Also disturbing was a news special last night on the Homeless in Boise, where last night it was -10f. These people, many with young children, are not bums or riff raff. They are humans on a string of bad luck and the shelters are full so many are sleeping in cars. I assume the story is the same in other areas with 10% unemployment.
On the plus side C-Brats in general are in better shape than most people and lets stay positive and help out where we can.
Roger Juntunen
 
There are some boat manufacturers, like Regal, that are privately owned and have weathered the economic downturn. I've heard that they have 500+ orders in the pipeline and have opened a "factory showroom" where dealers can bring perspective customers to see the entire line. The big problem for many folks who want to purchase a boat is still the financing. I've heard numbers of only 1 in 4 who apply for boat loans right now are being approved... that's a tough problem to overcome for dealers. We agree with Levitation that paying cash for a "diminishing value asset" (what boats/autos/RVs are considered) is the best way to go.

2009 has been a great year of cruising for the Wild Blue crew, but we agreed that our cruising will be less "let's go here... then there" style and more staying in one part of the country. Our annual average speed has also declined over the past two years. Some of that may have been our extended time on the NY canal system with the 10 mph speed limit, or just our desire to slow down and enjoy... and get better fuel mileage. Even around our home waters, we spend a lot more time at 6 knots rather than 16.

We are even considering "fun jobs" (like what our time at Yellowstone in 2008 was supposed to be) to allow us to be somewhere we want to be, reduce costs and increase the cruising kitty. Our two biggest expenses are not boat related - they are health insurance and home related (insurance, taxes, condo fees). Both keep increasing. Retiring with no debt was an important part of our long term plan; we retired when the economy was booming, so the downturn with investments has had an impact on those of us too young to "get at" our retirement accounts.

There is no doubt that people are more conscious of any spending beyond the necessities. We see it in the marinas where boats seem to be moving less and in the RV parks where the big "showy" coaches are less prevalent. Practicality is the new desired commodity. Something that bodes well for C-Dory type boats. People still want to retire and travel. They want to experience what they've dreamed of during their working years. It seems that they are learning to do that within their means and not depend on borrowed money to make it happen.

When consumer confidence returns, I think we'll see a growing market for practical for a long while. Those of us who have these boats are ahead of the curve for now.

Good to see this thread come back again.

Best wishes,
Jim B.
 
RogerJuntunen":2reislaz said:
Also disturbing was a news special last night on the Homeless in Boise, where last night it was -10f. These people, many with young children, are not bums or riff raff. They are humans on a string of bad luck and the shelters are full so many are sleeping in cars. I assume the story is the same in other areas with 10% unemployment.
On the plus side C-Brats in general are in better shape than most people and lets stay positive and help out where we can.
Roger Juntunen
Click to expand...

“Whatsoever you do to the least of my people, that you do unto me.”
(Matthew 25:40)

Thanks Roger, for reminding us.
 
Hi,
I still have quite a bucket list. Trent / Severn,Yellowstone, Jackson Lake, Alaska. We are fortunate as I have a good job and plan to continue working for another six years and will retire at 67. I have everything I need. I will buy a new 4 wheel drive Chevy pickup with a Duramax to make it to the western adventurers and on to Alaska. All college and the kids expenses are almost over. My daughter's wedding a year from now will be quite a celebration for a lot of reasons. I really wanted to make Alaska this year and meet up with Jay and Jolee but it is not meant to be. So we will try to do the Trent / Severn this year unless some other C-Brat cruise catches our fancy. I'll catch Jay and Jolee at Yellowstone some August in the coming years. Maybe Lake Powell someday I'll meet the super cruisers El and Bill. Our company 401k has recovered and rebounded nicely. I switched to a managed plan and it has payed off. My wife retired with the ability to continue with her companies health care for a minimal copay per month. We plan to putt around and be frugal and enjoy what we have worked all of our lives for; a chance to travel this great country and enjoy it's great people. Look forward to seeing more of you in 2010.
D.D.
 
Dave

Would have been great to meet up in Alaska, BC or the Yukon this year. Know some great places that make the combination C-Dory and Mokai just right to explore, but Yellowstone is fantastic also, so will look forward to meeting you there.

Sounds like a good plan but I would advise one adjustment if at all possible and that's not to wait to your 67 to retire. As others have commented already on this thread in every way good health is even more important then money in realizing our future dreams and there is significant risk that by the time we reach 67 some of these goals may not be reachable. I presently have a very good job I enjoy doing with little stress and very good vacation, health and other benefits with close to zero risk of losing it unless I chose to retire. It would really help reduce our risk in having the finances to continue doing the things we love to do if I didn't retire now, but the risk of health deterioration and just plane time lost to fulfill dreams that can only be done with good health makes for us the decision to retire now fairly easy. If you really enjoy your job and can fulfil a good part or all of the bucket list without retirement then that too sounds good to me.

All...don't want to get into a political debate on health care, but for us a major change in the system will not be good. We are fortunate to be in one of those union cadillac health care insurance programs that continues on through retirement which really helps with the choice to retire now. We just hope whats being debated doesn't change that for us.

Jay
 
Ohh, dear-I know I should never open my big mouth but I can’t just sit on the sideline. Isn’t it just about greed AND politics and it doesn’t matter which Party you attend? I’m going to my boat and sulk!! Over & out!!
 
The value of one's health and the opportunity to retire (if you have other things you'd like to do...) can't be overstated. Prior to retiring I had considered working another three or four years; and figured a little more icing on the retirement cake wouldn't hurt anything.

During that last work-year three friends died unexpectedly (all younger than me), and they served as my wake-up call. We had worked diligently on feathering our retirement nest, although "a little more" would have been nice. I remember a conversation with Sandy when I told her I was hanging up my spurs and retiring. We figured a likely retirement income, and if that wasn't enough, we'd sharpen the pencil and redo the budget, but we were off and on to the Next Chapter of Life whatever that was!

In April 2009 we passed eleven years of retirement. The budget pencil has been "sharpened" a couple times, but things are still holding together. With a little TLC the financial aspects will take care of themselves if we don't go lifestyle crazy, but at this stage of life the health issues loom larger (and more costly!).

How does all this relate to boating? Indirectly, at best. But after selling Naknek it became clear to me just how important that damn little boat was to me. She was my Magic Carpet. Naknek's gone, but I found (and bought) her sister, and Sis is just waiting for this kid to take her cruising.

This is getting all syrupy and I didn't intend that. Suffice to say, Like Tyboo, I've been given the opportunity to wander/explore/cruise for three good friend who didn't make it; I plan to.

Get your boat, set your course; and Go.

Best,
Casey
 
Casey said it:
Personally, I think we may see the USD ridden into the ground... The bottomline: Debt brought us to this dance, but it's unlikely we can spend our way to Prosperity. Meanwhile, the government (both sides of the aisle) cannot seriously discuss spending controls. We're Screwed.
Click to expand...

Yes we are...and indebted to China beyond our wildest nightmare.
 
Maybe the Federal government and many states , cities and individuals have lived beyond their means for the past 30 yrs or so.What if deficits do matter?If taking on more debt and printing money is going to lead to prosperity we're headed for a bright future.
There's a small movement in America called "voluntary simplicity"I wonder if the future will see a much bigger movement called "involuntary simplicity"
Sorry for such a negative attitude. Anyway the type of boats we have can be enjoyed economically even in bad times. It's never bad times cruising on the boat.Alan
 
This is an old thread, but it hasn't played out yet. We have enjoyed reading ideas shared comfortably and without political rant here in the pub. Here are the last postings on the topic.

In January, 2008, we began a discussion of the state of the economy and the possibility of a recession. The thrust of the discussion was to stay non-political and examine the affect such a downturn might have on our boating lives. We had an interesting discussion and one helpful for us, and perhaps other Brats. We took protective steps (for us, financially) and perhaps others did as well.

http://www.c-brats.com/viewtopic.php?t=7851&postdays=

In January, 2009, we initiated several other discussions about the state of the economy, when we were in the economic meltdown, and one not seen since the 1930’s. One of the discussions had to be shut down due to political opinions posted by a non-C-Dory person. But, the second discussion was interesting and stayed focused on how the financial change had altered our boating and personal financial decisions.

http://www.c-brats.com/viewtopic.php?t=11364&start=0

Since we enjoyed and learned from those previous discussions in the pub, we thought it might be interesting to initiate another – almost two years from the first, that was warning of possible trouble, a year after the next posts discussing our choices and decisions after our economy (global, national, and perhaps personal) became immersed in the difficult times. The following is our ‘take’ on the present state of things (again – trying to avoid any judgment or political innuendo) – just the ‘facts’ and then our personal reaction to those facts, as it regards our boating decisions.

It seems most economists now see us returning to ‘normal,’ but those same individuals call it a “new normal.” Let’s go back and look at the ‘old’ normal, at least as El and I remember it (and we have been investors and had economics as an interest since the Paleozoic).

Back in the ‘50‘s and ‘60’s the US had balanced budgets, modest trade surpluses, and about 5% a year growth. Americans saved more than 8% of their incomes.

In the 21st century, Americans saved 2.7%. Many feel this was the result of the increase in average wealth due to a huge rise in the price of a house, and the ease of borrowing. Collective net worth rose from $42.1 trillion in 2001 to $63.9 trillion in 2007. “Why save if house values are rising fast and you can easily borrow against the new appraised value?” But it all came to an abrupt end. Pop – the bubble burst. By the end of the first quarter 2009, 27% of American mortgage holders owed more on their houses than they were now worth, and foreclosures continue.

Net worth plunged to $51.1 trillion in the first quarter this year as housing and investment values plunged. Result? A ‘behavioral convulsion.’ Family spending has been radically cut and savings has risen to an average of 5% in the second quarter of 2009. Since spending cuts and savings increases reduce consumer demand, such an abrupt change has cut annual spending by about $109 billion.

Some reputable economists are now predicting a savings rate in excess of 10% as folks unwind longer-term spending commitments.

What happened in the 1980’s to allow house prices to inflate so far? One factor was new laws that allowed easier refinancing of mortgages and easier credit for borrowing. One didn't have to save to acquire 'things' - credit was easy to get. A borrowing ‘shock’ hit the economy so that by 2007 household debt peaked at 138% of disposable income. Household net worth collapsed from 639% of disposable income in 2006 to today’s 487% of disposable income.

The tug-of-war between fear and greed is frightening to witness. Greed was in charge up until a few years ago – credit was easy and folks consumed madly with easy money to pay. Now fear has taken over – loss of investments, house value or a foreclosure, perhaps a job loss has caused deep anxiety and a feeling of creating a hedge against misfortune. Retirement is threatened or postponed.

So folks are saving and the result on the consumer-driven economy has been serious. We asked, almost two years ago, what the effect of a recession might be on us as boaters. Matt Gurnsey has posted an excellent summary of that effect on the industry (and thus on all of us) - and it has been profound.

http://www.c-brats.com/viewtopic.php?t=12741&highlight=

And the tale continues to unfold for each of us, as individuals, and all of us as boating enthusiasts. Most economists believe we will be living with this 'new normal' for many years to come.

Boat manufactureres have furloughed staff, C-Dory has changed hands, and most all of us had to adjust our boating use and nautical lifestyles. Some of us have adjusted retirement plans due to a drop in the value of investments for many.

Now economists are saying a continued period of deflation, perhaps an extended period of job stress, and "who knows with the markets?" Longer term, most economists are thinking we are in for inflation, and that would surely affect our boating lives.

Comments? How is the state of the economy affecting your nautical life (if at all)? Any chages since our last period of discussion? (non-political, please).
_________________
 
I can tell you that in the last 2 yrs Meredith and I have REALLY focused on paying down all our debt. We have eliminated nearly all credit card debt/use; if we can't pay cash, we generally don't buy it. We are now working on paying off what small line of credit on our house [equity]that we used. Once that is complete we will have only our mortgage, boat payment and one small car payment outstanding. I've also move some of my defered comp money into a money market fund due to the volatility of the stock market.

As far as out boating style, we are as conservative as possible when using the boat. No flooring it everywhere we go; the gas gauge doesn't seem to move as much then. :wink: Plus, we are not placing it in storage this winter but instead are getting a cover and using our "free" driveway. I do my own maintenance when possible too.
 
hello el and bill,
our plans haven't changed, our experiences have changed, our net income has dipped, but only slightly, and in direct proportion to our increasing payroll expense. our production, ytd, is 40% higher than this time last year. linda and i are still working but have taken more time off, mostly fridays, and have either used that time on the boat, motorhome or at the lake. we're not lucky, just worked 12 to 16 hours a day for 30 years and are enjoying the benefits of that sacrifice. we can take time off only because our daughter has taken over in our absence. (she will buy us out when we retire, in the near future. i've never trusted the stock market, even though i have a good understanding of it, actually had a series 7 licence to sell stocks and mutual funds, so, haven't lost any money to speak of, in the market. we've done well in real estate and currently have a lake home for sale. the property has shown several times and we have a scheduled showing tomorrow at 11:00am.
we are seeing an increase in the trades, carpenters, remodelers, tile setters, etc. purchasing contractors liability policies, which tells me they are getting back to work. have spoke to several light machine shops and they are starting to get orders, they seem to be 6 months ahead of the curve.
best regards
pat

ps: when our children started college, it was important to us that we paid 100%, we didn't have the money to do that, so i worked my normal day and then went on 2 evening appointments, monday thru friday and earned the money necessary to pay the required room and board, tuition, books and spending money, car insurance, clothing etc. it wasn't easy, but it was important to me. our daughter has a bsba,mba, zero student loans, and our son is a board certified psychiatrist, he has zero undergraduate loans and we contributed 15k per year, for med school, although he had to incur loans for the balance. the reason i tell this story is to state, if something is really important, one will find a way to make it happen. we have never been given money, worked for everything and owe no one! if i had to do it all over again, in this environment, i could!
semper fi!
 
Interesting to hear the 'reports' from you folks - seems to follow trends we hear about - reducing or eliminating debts (a good idea in these times of uncertainty but, we think, being frugal folks, a good idea any time) and that it appears things have turned the corner with more economic activity at the local level, as Pat and Linda mention.

Sorta like spilling coffee in the galley - only takes a second for things to fall and make a mess, and then requires a long time to clean it all up.

Economic patience has been one of the hardest lessons for El and I to learn. Only takes a short time for the markets (any markets) to fall and a long time to slowly see numbers rise again. Sorta like buying a boat - bingo, you have the boat, but if buying on credit, years to cover the expense (or, if paying cash, like we prefer, years to watch the savings slowly recover).

Opportunity cost is a fundamental concept for us - a penny spent for this, means you can't spend that penny for that (and you lose the interest that penny might have earned if invested and 'working' for you). So, we like to keep opportunity cost in mind - is that really the best expense? do we need it? Will that bring us more pleasure or comfort than if we spent that money for ....? Or saved it for that trip to ...?

Hmmm - we just decided to head over to Europe early next spring to take a trip on some of the great rivers of Europe ... anyone care to come on that trip? Oooh - the opportunity cost for that one ...

We do find, with increasing age, that the realization that we "can't take it with us," enters our decisions also - we don't want to get to the end of the trail and think "why didn't we do ...?" Especially when now we can do it together and someday that may not be possible.
 
Sometimes I try to organize my thinking – it seems to help me keep things Straighter in my mind. In the case of boating (which I see as an aspect of personal finance) I tend to look at things from a macro/strategic perspective, and a micro/personal perspective. Please bear with me as I try to explain:

Macro/Strategic View. From a national, and possibly a global perspective we are witness to tectonic-like changes going on around us and No One knows what the outcome will be. I tend toward the a rather sobering view that suggests by 2020 we will look back on a vastly more comfortable lifestyle during the first ten years of the century (2000-2009) than the ‘last decade (2010-2020). The challenges we face are multidimensional, and not easily solved. Think about it: our once-upon-a-time manufacturing Nation has largely become a “Servicing” Nation. I don’t think that’s a good thing. The USDollar, for the moment is still the world’s “reserve currency,” (thank God…) but is backed up with little more than political/fiscal promises, and an interventionist foreign policy. I don’t think that’s a good thing. Meanwhile, our congress explores new ways to manipulate an out-of-control budget, but cannot bring itself to seriously address spending – yet seems focused on finding new ways to tax. (i.e. if we can’t control Spending; all the taxes in the world won’t solve the problems). I don’t think that’s a good thing. Meanwhile the Fed grapples with monetary policy and may well embark on another round of “Quantitative Easing II” which will at the very least give our (foreign) banker pause to rethink whether they can afford to continue funding American profligacy. I don’t’ think that’s a good thing. In the final analysis we could actually witness a currency collapse. Swell. (I could go on, but have probably already lost at least 75% of the C-Brat’s.)

Micro/Personal View. Actually this is, relatively, more positive. I see little hope of the (federal/state/local) government pulling a rabbit out of a hat and making current problems go away. That leaves the only viable alternative as one we pursue at the personal or local level. At the personal level we can work to get out of debt, and strive to live within our means, even if it’s less comfortable than it was five or ten years ago. At the personal level we can help our children, neighbors, and other friends/relatives cope with the challenges that confront them – and make better lifestyle choices. At the personal level we can watch the theatre that is modern politics played-out on the stage before us, and voice our concerns and support where appropriate (knowing full well our voices may very well not be heard). If we’re fortunate, after a decent interval we will emerge from this dark tunnel, and will have (re)found the personal and societal attributes that once made America Great. At least that’s my Hope…stay tuned.

But Casey: What about BOATING?

We are living in a “glimmering moment.” Individually and collectively we still have sufficient financial and fuel resources to exercise our boating-passion, and I think we need to go-for-it. As mentioned previously, I believe ten years down the road will reveal a Very changed landscape, indeed. Recreational boating will still be possible (I believe), but we’ll be paying through the nose for it, but we’ll adapt. A new C-Dory 22 will have a base price in the vicinity of $120K, and that nifty Honda 90 will cost a mere $30K, and fuel will be $10-15/gallon. The jet-skiers and hot boats on Lake Powell will be virtually Gone. …but the C-Brat’s will still arrive in late September just like the Swallows-to-Capistrano. Under RanaVerde Chris’ guidance we’ll choose likely beaches in Warm Creek Bay or Hall’s Creek (closer to the launch ramps – less fuel) for the CBGT. Bill Fiero will still be offering “Canyon Geology 101,” and El will still be Charming all of us. Virtually ALL of our boating will be in displacement-mode (better fuel mileage), and most will have installed convenience autopilots, much to Fiero’s chagrin. The truly innovative and far-sighted will have re-powered with a single 20-30hp 4-stroke, and thus be able to displacement cruise uplake without breaking the family fuel budget. Trailering to the Powell CBGT will be easier because several folks who don’t have boating in their backyards, will opt to keep their C-Dory in dry storage (i.e. Big Water, UT, or Page), thus making it easier and cheaper to spend a week or two or longer on the lake. Pat and Patty will (by then…) be retired, and planning for their 14th Powell CBGT. Brent and Dixie will still be trying to catch enough fish for the next fish-fry; and Jim and Joan will have finally given up on seasonal work in favor of fulltime C-Dorying and RVing. Bill and El will conduct a class on how they managed to do a summer with five people on their boat way back in ’06 without any mutiny’s; because many folks will be considering the benefits of cost-sharing amongst boating friends. …but boat we will.

Those who bought their C-Dory’s in the First Decade or earlier will be considered the ‘old Salts, and be considered C-Brat Pathfinder’s for having identified ways to enjoy boating for days or weeks at-a-time yet not break the budget. C-Brat’s will still be the Forum for C-Dory folk, and most of us who are hopelessly addicted will still be voicing our Opinion (regardless how outlandish).

All-in-all we’ll decide on what we want, plan for it, and just Do It; it’s in our blood.

Just some thoughts….

Best,
Casey
 
This struck me particulary hard last week. I had a house guest who was buying our RoadTrek RV. He pulled up our home on one of the internet house value sites. It had fallen to about 80% of what we paid for it in 2001. At one time it was valued at over 100% more than we had paid. A house across the street was built at a cost of $1.5 million 6 years ago. According to this site, it was worth $375,000 currently! The owner had tried to sell it for $700,000 a couple of years ago, and gave up--renting it out. I then looked up my daughters house in Culver City CA. It was up over 100% from what they paid for it (including the cost of renovation) 10 years ago. So real estate depends of that all important factor: "Location". But the new best "location" may not be just water front or golf course. It may be where the jobs and a stable part of the economy is! (The 100 year housing value index shows peroids of plateau and spikes, but the last 10 years increase out paces any in recent history)

Then lets look at stock equity investments. The average rise of the major indices have been historically a bit over 8% a year. However over the last 10 years, the net return has been a minus 0.9%!... (looking at the last 100 years, there is a pattern of rapid increase and then plateau)
We have personally taken a serious hit in the amount of our investments and the income from those investments during the last couple of years. It will not directly affect our boating life style, but it means that we will be saving less, and eventually passing less on to our children and grandchildren. Right now the stock market has again fallen--as it has assumed a pattern of up and down in a narrow range. I feel that this reflects a fear in investors of the general economy, uncertainty of the worth of the dollar, and what tax policy will by in the next few years, with a huge rising national debt.

If you look at those two examples above, you might question if the last 10 years were really the "good old days". But then again, we may see worse in the next 10 years. Inflation remains a real fear for both those who have retired, and those who will retire in the near future. With the questions of solvency of Social Security and pension funds, it will be imperative for the individual to save more.

As for boats: I noted that many builders are now only building on demand (which is low)--and as Nordic Tug stops production it remains symptomatic of the industry. There is not the discretionary spending which we had during the era when we though we were "rich" by taking out an equity loan on our rapidly inflating home. There is also the uncertainty of the future.

Also there is a larger gap between the truly rich and those of the middle and lower socio-economic group. (Also a political "Class" which seems out of touch with the needs of the average person) However, we must all remember that we are some of the luckiest people on the earth--because we can afford the luxury of a C Dory which over 95% of the world's population cannot afford.

My concern is not as much about the use of the boat directly, but we recently purchased a 3 year old 41 foot Diesel RV, rather than buying another trawler. We take a boat with us on our travels. The cost of the fuel of the boat, pales in comparison with that of the RV (we drove 9,000 miles this summer)--since we run the RV many more miles and diesel is about 20% more expensive than gasoline. We will still do short trips in the Tom Cat--and probably trailer the Caracal or a larger inflatable to more remote locations.
 
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