You get 50k dollars tax free no catch what do you plan to do with it?

  • CameronDev@programming.dev
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    7 days ago

    Yeah, works out to around $250 per month saved interest.

    But which would you rather, $250 per month or a pair of jetskis?

        • isleepinahammock@lemmy.blahaj.zone
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          7 days ago

          Jesus H Christ, there are just some things that should be rented, not owned. Tempted to buy a jetski? Go rent a jetski every weekend you feel like during the applicable season(s) for one year. Feel like jetskiing this weekend? Just rent a jetski, have a great time, and don’t even worry about the cost. Sure, shop around for a good rental place. But once you’ve found a good one, just go to it as often as you feel like, ignore the cost entirely. Yes, it will feel like you’re throwing money away. It will go against every instinct that tells you it’s cheaper to buy than rent. But you’re not throwing money away. You’re buying insurance against potentially making a real bad financial decision. It’s fine to spend money on things you love doing. But the risk in owning an expensive rapidly depreciating toy is that you will simply lose interest once it’s no longer shiny and new. If after a year, you’re still in love with the thing and are firmly convinced you’ll want to jetski long into the future? Only then consider buying one. And even then you should calculate what the actual payback period is for renting vs. buying. If you love jet-skiing, but only a couple times a season? It’s probably not ever worth buying one. Use it the majority of weekends through a whole season? Might be worth it.

          It’s just the nature of the rental business that it will take at least several years worth of the average person’s use of a thing to make buying a better option than renting. Same goes for RVs, regular boats, really any big expensive motorized thing that you can either buy or rent. (Cars and other modes of daily transport are the exception. These simply a necessity for many people. For millions, the need for vehicle ownership is a near-lifelong requirement, so there’s no risk of buying a car and then two years later never driving it. )

          • CameronDev@programming.dev
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            7 days ago

            I agree, but would go further. Many people buy cars much bigger than they need, in the hope that “One day I’ll need the tray” or “4wd is useful when I go camping”, but the reality is that they could buy a city car and do 99% of their day to day driving, with a lower up front cost and maintenance costs, and then with the money they have saved they can just rent the 4wd/truck/whatever.

            I needed a truck one time for an hour. $200 to rent it, didnt even fill it up again and return it. Way cheaper than owning a truck.

            Enough seriousness.


            The reason to buy instead of rent is to avoid the excessive premiums when you inevitably send it to the bottom of the pond you’re dicking about in. Its YOUR jetski, YOU have the FREEDOM to park it WHEREVER you LIKE!

          • Ajen@sh.itjust.works
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            6 days ago

            Or buy one that’s 10 years old and learn to maintain it yourself. Worst case, you decide you don’t want it after a year and sell it. Depreciation from year 10 to year 11 is close to zero.

            • 0xDREADBEEF@lemmy.dbzer0.com
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              5 days ago

              This sounds like a guy who’s desperate to get rid of his 10 year old jetski and pass on the buck to the next unlucky sap. My brother in laws family owns a christmas tree farm on 100+ acres of land and they have a fleet of snowmobiles that are an absolute bitch to keep running let alone maintain. I dont imagine jetskis being that much easier to own.