[DAVES]

Originally Posted by J1ceasar

I applaud anyone who puts their money on the line for a business. Most of us in life are worker bees and don't understand the extreme risk and hard work of a capitalist society. Buying a half billion dollar yacht his pocket change to this guy.

People do not know and do not care. As I recall half of all new businesses fail in the first two years. I had my own business. You cannot as many workers do say hey the boss is a jerk. You are talking about yourself. You do not work mon-fri 9-5. You are not covered by unemployment insurance. Social security is the largest tax many pay. Your employer pays for you the same as you do and that is tax free income to you.

Today we are told $15 is a minimum wage. Reality, a strange concept to many to pay $15 an hour you need to generate minimum of $20 an hour to cover taxes such as social security, unemployment insurance, the risk of having you work for the business,
cost of equipment etc.

Reality, you will never work as hard for an employer as you do when you are the employer.

No I do not have his money.

[Marty94]

A few years before I retired from the military, I was offered a position as navigator on a luxury yacht berthed in Australia. That was a hard gig to turn down. The owners lived in Hawaii and from what I understood liked to sail around the Pacific Islands. I guess that was “their” paradise and quite frankly the islands are beautiful. Thus, I think these super yachts are a way for affluent owners to get away, have some privacy and avoid paparazzi or just prying ears and eyes as crews are very loyal. Most of the ones I’ve been on, the owners are very kind to the staff and pay them well. And you can truly get lost in some of the most magnificent sights at sea. It’s a great place to unwind.

Super yachts, much like private jets, can be owned by a company. A close friend flies a $9M Embraer jet for its owner. The owner uses the plane for both business and personal reasons. There are tax rules when using them for personal reasons, but it’s really amazing how much leeway is given as one could schedule a 15 minute business meeting in say, Vegas, and stay a few extra days bringing family and friends for a holiday. Super yachts are no different. They can be used as a means of transportation or as a floating office. Maintenance, docking fees, fuel, insurance, staff... it’s super expensive as someone previously mentioned and will be in the millions of dollars, but when you make $12M an hour, you don’t worry too much about the price of fuel.