Les Jones

Economics > Study: Owning A Boat Not Worth It

I've been saying this all along.

YONKERS, NY—According to a study published in the April issue of Boating Magazine, owning a boat is not even close to worth it. "Our study proved conclusively that boat-ownership is primarily an inconvenience and a monetary black hole," editor Roger Bernbaum said. "We found little to no reason to keep that thing sitting in a shed all winter just so you can tow it to the lake and pay outrageous docking fees three weekends a year. It'd be much more cost-efficient to don a yachting cap and hang out at the dockhouse."

OK, so this is a parody from The Onion. I still think it's true. In one of his investing books Andrew Tobias tells you 10 things to do if you win a million dollars. The only one I've committed to memory is "don't buy a boat."