Canadian Yachting October 2017 - 98

CRoSSInG THE LInE

By John Morris

Boatonomics for 2018
Canada's new economic reality means you
can easily afford that new boat
Recently, a friend approached me with an oft-heard lament
commonly referred to as 'two-foot-itis' - "Sue and I would love
to buy a new boat, but we can't afford it." But the good news is
that you can! The Bank of Canada has raised interest rates, sure,
but there are many other factors that make it more possible than
ever to move up.
You don't have to be a wealthy barber to take advantage of
current economic conditions. Having just come off a summer of
boating enjoyment, you know a boat is a great idea, but you're
wondering how to take that two-foot step. You've come to the
right place.
As a first step, consider your kids' education. A recent British
BBC report confirms what we have thought for some time, that
while a worthwhile life experience, a university education does
not provide the return on investment it used to. "Given my time
again, I wouldn't bother going to university. The experience was
amazing and the life skills have also proved valuable, but the
degree is next to worthless," says Aaron Cullen of Aberdeen. At
the same time, Canadian tuition rates are rising.
Do the math - the average Canadian family has 2.1 children,
times 4 years, times the average yearly tuition of $5,500. The
kids don't need it and will benefit from not having it. Bingo!
There's $46,200 into the boat fund.
Every folksy financial advisor says simply skipping that
Starbucks every day is a sensible start. Sound like hokum? Let's
look at that. You're 40 and expect to drink coffee until you're 75,
at least. Thirty-five years, times 300 days (being conservative),
times $3.75 for a latte, equals $39,375. Add in inflation and that
could double, so let's call it $78,750.
The cost of a home in Canada has exploded. Sales volume
has cooled a bit in Vancouver and the GTA, but elsewhere like
Edmonton and Montreal, there's new activity. To upgrade your
home, you'll need at least $200,000 or more. According to the
Mop and Pail, the average Canadian home price in June was
$601,445. So if you buy that house with 10% down, your balance is $540,300. Let's be sensible and suggest you can save just
20% of that by foregoing purchasing a new home immediately,
so you have just rung up $108,260. This is a snap and we're

Work like a

So let's add it up:
$46,200
$78,750
$108,260
$100,000
$10,000
$500
________
$343,710
That's just for a start. Your particular situation may allow you
to spend even more.
So calm down, boat hunters!
As you can see, you can easily scratch that two-foot itch.
We've already contributed $343,710, you can surely find another $50Gs in your change jar and forgotten bank accounts (how
many Canadians leave money in banks? Many - that's how the
banks got so profitable). Add in your trade-in and you're pushing
half a mil.
It's October so there's a lot of bargains as dealers look to
reduce their inventory and only a couple of months before the
boat show. It's going to be a piece of cake; I see a gleaming new
boat in your future!

CAPTAIN, Play like a PIRATE at
YACHTING CENTRE

A Parkbridge Marina

A Parkbridge Marina

Canadian Yachting

B

CO N B A
EA

Y

BAY PORT

98

making David Chilton look like an amateur.
As I write this, many other factors are popping up on the economic horizon. Higher interest rates, NAFTA negotiations, and
the higher Canadian dollar all contribute. Let's round out the
numbers and figure that means an extra $100K to you. Your
neighbours re-paved their driveway (or re-tiled their backsplash), but you didn't. That adds $10,000. Julia and Sid decided to elope so you saved $500 on their wedding gift.

M A R I N A
A Parkbridge Marina

A Parkbridge Marina

A Parkbridge Marina

Marinas.com

Georgian Bay
Atherley Narrows

OCTOBER 2017


http://www.ParkbridgeMarinas.com

Table of Contents for the Digital Edition of Canadian Yachting October 2017

Vantage Point: First Time Charter Vacation
Club Profile: Beaconsfield Yacht Club
Travel Destination: Cowichan Bay
Boatbuilder Profile: A Trip to Iconic Italian Yachtbuilder Riva and Lake Como
Charter Destination: Our Top 5 Caribbean Destinations
The Port Hole
Charter Destination: Antigua; A Beam Reach for Paradise
Sail Review: Elan GT5
Power Review: Jeanneau Leader 10.5
Crossing The Line: Boatonomics for 2018
Canadian Yachting October 2017 - Cover1
Canadian Yachting October 2017 - Cover2
Canadian Yachting October 2017 - 3
Canadian Yachting October 2017 - 4
Canadian Yachting October 2017 - 5
Canadian Yachting October 2017 - Vantage Point: First Time Charter Vacation
Canadian Yachting October 2017 - 7
Canadian Yachting October 2017 - 8
Canadian Yachting October 2017 - 9
Canadian Yachting October 2017 - Club Profile: Beaconsfield Yacht Club
Canadian Yachting October 2017 - 11
Canadian Yachting October 2017 - 12
Canadian Yachting October 2017 - 13
Canadian Yachting October 2017 - 14
Canadian Yachting October 2017 - 15
Canadian Yachting October 2017 - Travel Destination: Cowichan Bay
Canadian Yachting October 2017 - 17
Canadian Yachting October 2017 - 18
Canadian Yachting October 2017 - 19
Canadian Yachting October 2017 - 20
Canadian Yachting October 2017 - 21
Canadian Yachting October 2017 - Boatbuilder Profile: A Trip to Iconic Italian Yachtbuilder Riva and Lake Como
Canadian Yachting October 2017 - 23
Canadian Yachting October 2017 - 24
Canadian Yachting October 2017 - 25
Canadian Yachting October 2017 - 26
Canadian Yachting October 2017 - 27
Canadian Yachting October 2017 - Charter Destination: Our Top 5 Caribbean Destinations
Canadian Yachting October 2017 - 29
Canadian Yachting October 2017 - 30
Canadian Yachting October 2017 - 31
Canadian Yachting October 2017 - 32
Canadian Yachting October 2017 - 33
Canadian Yachting October 2017 - 34
Canadian Yachting October 2017 - The Port Hole
Canadian Yachting October 2017 - 36
Canadian Yachting October 2017 - 37
Canadian Yachting October 2017 - 38
Canadian Yachting October 2017 - 39
Canadian Yachting October 2017 - 40
Canadian Yachting October 2017 - 41
Canadian Yachting October 2017 - 42
Canadian Yachting October 2017 - 43
Canadian Yachting October 2017 - 44
Canadian Yachting October 2017 - 45
Canadian Yachting October 2017 - 46
Canadian Yachting October 2017 - 47
Canadian Yachting October 2017 - 48
Canadian Yachting October 2017 - 49
Canadian Yachting October 2017 - 50
Canadian Yachting October 2017 - 51
Canadian Yachting October 2017 - 52
Canadian Yachting October 2017 - 53
Canadian Yachting October 2017 - 54
Canadian Yachting October 2017 - 55
Canadian Yachting October 2017 - 56
Canadian Yachting October 2017 - 57
Canadian Yachting October 2017 - Charter Destination: Antigua; A Beam Reach for Paradise
Canadian Yachting October 2017 - 59
Canadian Yachting October 2017 - 60
Canadian Yachting October 2017 - 61
Canadian Yachting October 2017 - 62
Canadian Yachting October 2017 - 63
Canadian Yachting October 2017 - 64
Canadian Yachting October 2017 - 65
Canadian Yachting October 2017 - 66
Canadian Yachting October 2017 - 67
Canadian Yachting October 2017 - Sail Review: Elan GT5
Canadian Yachting October 2017 - 69
Canadian Yachting October 2017 - 70
Canadian Yachting October 2017 - 71
Canadian Yachting October 2017 - 72
Canadian Yachting October 2017 - 73
Canadian Yachting October 2017 - Power Review: Jeanneau Leader 10.5
Canadian Yachting October 2017 - 75
Canadian Yachting October 2017 - 76
Canadian Yachting October 2017 - 77
Canadian Yachting October 2017 - 78
Canadian Yachting October 2017 - 79
Canadian Yachting October 2017 - 80
Canadian Yachting October 2017 - 81
Canadian Yachting October 2017 - 82
Canadian Yachting October 2017 - 83
Canadian Yachting October 2017 - 84
Canadian Yachting October 2017 - 85
Canadian Yachting October 2017 - 86
Canadian Yachting October 2017 - 87
Canadian Yachting October 2017 - 88
Canadian Yachting October 2017 - 89
Canadian Yachting October 2017 - 90
Canadian Yachting October 2017 - 91
Canadian Yachting October 2017 - 92
Canadian Yachting October 2017 - 93
Canadian Yachting October 2017 - 94
Canadian Yachting October 2017 - 95
Canadian Yachting October 2017 - 96
Canadian Yachting October 2017 - 97
Canadian Yachting October 2017 - Crossing The Line: Boatonomics for 2018
Canadian Yachting October 2017 - Cover3
Canadian Yachting October 2017 - Cover4
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