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Re: Johnny Morris buys Legend?
[Re: Texoma Striper Company]
#12386786
08/15/17 03:42 PM
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Joined: Apr 2014
Posts: 8,389
Jpurdue
TFF Celebrity
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TFF Celebrity
Joined: Apr 2014
Posts: 8,389 |
Never ever ever ever ever pay cash for anything that has a diminishing value.Car ,Boat,RV Horse,wife anything that decreases in value. Never buy depreciating assets with borrowed money. There fixed it for you. Truth of the matter is all things in moderation. It's amazing how quickly folks forget how tough things can get. There were plenty of boats/houses etc... repossessed/foreclosed on in 2008 and more recently in 2015 in Texas. Just because you can afford a 800 dollar a month boat payment now doesn't mean you'll be able to when you get laid off, the economy crashes, or you get in a car wreck and laid up for 6 months. Instead of borrowing 90K for most of us i'ts probably wiser to save up as much as you can, then buy a nice used boat with a sizable down payment and a small amount of borrowed money. Worst case you can always sell the boat to get out from under the loan, and because you bought used you'll have a lot less upside down losses to swallow. For the guys with deep pockets though, have at it boys. You earned it!
"Bragging may not bring happiness, but no man having caught a large fish goes home through an alley." -A.L. www.LunkerLore.com
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Re: Johnny Morris buys Legend?
[Re: Happykamper]
#12386788
08/15/17 03:42 PM
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Joined: Aug 2006
Posts: 6,977
Sinkey
Tidy Scoop
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Tidy Scoop
Joined: Aug 2006
Posts: 6,977 |
I hope Legend stays around, i think they are fine boats, I just don't think JM bought them to continue making them, i think he bought them for the facility, what does legend sell a year ? 175-200 boats, seems like they would be a draw against his other lines, who knows, its all about the money. You are right. At about 180 boats a year, I doubt he will keep making them. Especially when he owns Nitro, Ranger, and Triton which are selling bigger number of boats annually. But only Johnny knows that.
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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12386916
08/15/17 05:43 PM
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Joined: May 2007
Posts: 40,511
WAWI
TFF Guru
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TFF Guru
Joined: May 2007
Posts: 40,511 |
Probably gonna move Triton production there, kill legend in hopes of being able to fill orders someday. Wasn't there a minor drug test issue in Arkansas faculty?
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Re: Johnny Morris buys Legend?
[Re: WAWI]
#12386951
08/15/17 06:08 PM
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Joined: Jan 2004
Posts: 16,880
ezbassin
TFF Guru
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TFF Guru
Joined: Jan 2004
Posts: 16,880 |
Probably gonna move Triton production there, kill legend in hopes of being able to fill orders someday. Wasn't there a minor drug test issue in Arkansas faculty? LOL choose Triton over a Legend.. Not.
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Re: Johnny Morris buys Legend?
[Re: Stew]
#12386965
08/15/17 06:16 PM
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Joined: Jan 2016
Posts: 352
hogbus
Angler
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Angler
Joined: Jan 2016
Posts: 352 |
I'm lookin for some financial advice. I want to spend 60k on a boat. I am retired with a 7 figure tax deferred portfolio, get a small pension, and my wife makes enough to support the household. If I withdraw from portfolio, I would need 90k because Uncle Sam gets 30 off the top. If I finance at a low rate over a longer period, my money keeps workin and my tax debt is deferred. Smart money is where the smart money is. I think getting a new truck,car,boat,wife every year is not smart. Paying cash for everything is not smart for people than understand how to manage money. Rant over
2020 Basscat Lynx 300 ProXs 8’ Blades 2013 Basscat Puma FTD 250 ProXs 10' Blades Go Hogs!
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Re: Johnny Morris buys Legend?
[Re: ezbassin]
#12386976
08/15/17 06:25 PM
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Joined: Jun 2012
Posts: 20,783
Douglas J
TFF Guru
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TFF Guru
Joined: Jun 2012
Posts: 20,783 |
Probably gonna move Triton production there, kill legend in hopes of being able to fill orders someday. Wasn't there a minor drug test issue in Arkansas faculty? LOL choose Triton over a Legend.. Not. Triton sells a whole lot more boats, so JM would naturally shut down Legend to produce more Tritons
#MFGA
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Re: Johnny Morris buys Legend?
[Re: Douglas J]
#12387040
08/15/17 07:01 PM
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Joined: Jul 2014
Posts: 4,342
Bobby Milam
TFF Team Angler
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TFF Team Angler
Joined: Jul 2014
Posts: 4,342 |
Probably gonna move Triton production there, kill legend in hopes of being able to fill orders someday. Wasn't there a minor drug test issue in Arkansas faculty? LOL choose Triton over a Legend.. Not. Triton sells a whole lot more boats, so JM would naturally shut down Legend to produce more Tritons Exactly, can make much more money selling quantity over quality.
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Re: Johnny Morris buys Legend?
[Re: hogbus]
#12387085
08/15/17 07:39 PM
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Joined: Aug 2009
Posts: 444
Stew
Angler
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Angler
Joined: Aug 2009
Posts: 444 |
I'm lookin for some financial advice. I want to spend 60k on a boat. I am retired with a 7 figure tax deferred portfolio, get a small pension, and my wife makes enough to support the household. If I withdraw from portfolio, I would need 90k because Uncle Sam gets 30 off the top. If I finance at a low rate over a longer period, my money keeps workin and my tax debt is deferred. Smart money is where the smart money is. I think getting a new truck,car,boat,wife every year is not smart. Paying cash for everything is not smart for people than understand how to manage money. Rant over I'm sure this scenario is the typical case for 99% of the members on this forum...I should specify that my comments are reserved for the very small percentage who may live paycheck to paycheck and are thinking of financing a boat for over 10 years at over 10%.
Kenny Stewart
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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12387092
08/15/17 07:40 PM
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Joined: Jul 2011
Posts: 5,292
Dubee
TFF Celebrity
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TFF Celebrity
Joined: Jul 2011
Posts: 5,292 |
Triton is the better boat
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Re: Johnny Morris buys Legend?
[Re: Jpurdue]
#12387127
08/15/17 08:04 PM
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Joined: May 2014
Posts: 7,737
GIG'EM AGGIES
TFF Celebrity
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TFF Celebrity
Joined: May 2014
Posts: 7,737 |
Never ever ever ever ever pay cash for anything that has a diminishing value.Car ,Boat,RV Horse,wife anything that decreases in value. Never buy depreciating assets with borrowed money. There fixed it for you. Truth of the matter is all things in moderation. It's amazing how quickly folks forget how tough things can get. There were plenty of boats/houses etc... repossessed/foreclosed on in 2008 and more recently in 2015 in Texas. Just because you can afford a 800 dollar a month boat payment now doesn't mean you'll be able to when you get laid off, the economy crashes, or you get in a car wreck and laid up for 6 months. Instead of borrowing 90K for most of us i'ts probably wiser to save up as much as you can, then buy a nice used boat with a sizable down payment and a small amount of borrowed money. Worst case you can always sell the boat to get out from under the loan, and because you bought used you'll have a lot less upside down losses to swallow. For the guys with deep pockets though, have at it boys. You earned it! Wisest comments on this thread so far in my opinion. If you got it spend it how you want to. If not a nice used boat will work everytime.
I am a Senager. (Senior teenager) I have everything that I wanted as a teenager, only 50 years later. I get an allowance every month. I have PU truck and a bass boat, I am blessed. Conscience never acquits, it either accuses or excuses.
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Re: Johnny Morris buys Legend?
[Re: Stew]
#12387142
08/15/17 08:16 PM
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Joined: Jan 2016
Posts: 352
hogbus
Angler
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Angler
Joined: Jan 2016
Posts: 352 |
I'm lookin for some financial advice. I want to spend 60k on a boat. I am retired with a 7 figure tax deferred portfolio, get a small pension, and my wife makes enough to support the household. If I withdraw from portfolio, I would need 90k because Uncle Sam gets 30 off the top. If I finance at a low rate over a longer period, my money keeps workin and my tax debt is deferred. Smart money is where the smart money is. I think getting a new truck,car,boat,wife every year is not smart. Paying cash for everything is not smart for people than understand how to manage money. Rant over I'm sure this scenario is the typical case for 99% of the members on this forum...I should specify that my comments are reserved for the very small percentage who may live paycheck to paycheck and are thinking of financing a boat for over 10 years at over 10%. So you are living paycheck to paycheck. Can't get a loan at better than 10%. Giving financial advice. My advice for the young, living paycheck to check. Pay yourself first. 10% of your gross. 401k , Ira , anything tax deferred. once you are used to that then spend your descretionary money how you want. Never stop paying yourself off the top. When you get older you will have a pile$
2020 Basscat Lynx 300 ProXs 8’ Blades 2013 Basscat Puma FTD 250 ProXs 10' Blades Go Hogs!
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Re: Johnny Morris buys Legend?
[Re: hogbus]
#12387374
08/15/17 11:09 PM
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Joined: Aug 2009
Posts: 444
Stew
Angler
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Angler
Joined: Aug 2009
Posts: 444 |
I'm lookin for some financial advice. I want to spend 60k on a boat. I am retired with a 7 figure tax deferred portfolio, get a small pension, and my wife makes enough to support the household. If I withdraw from portfolio, I would need 90k because Uncle Sam gets 30 off the top. If I finance at a low rate over a longer period, my money keeps workin and my tax debt is deferred. Smart money is where the smart money is. I think getting a new truck,car,boat,wife every year is not smart. Paying cash for everything is not smart for people than understand how to manage money. Rant over I'm sure this scenario is the typical case for 99% of the members on this forum...I should specify that my comments are reserved for the very small percentage who may live paycheck to paycheck and are thinking of financing a boat for over 10 years at over 10%. So you are living paycheck to paycheck. Can't get a loan at better than 10%. Giving financial advice. My advice for the young, living paycheck to check. Pay yourself first. 10% of your gross. 401k , Ira , anything tax deferred. once you are used to that then spend your descretionary money how you want. Never stop paying yourself off the top. When you get older you will have a pile$ Checkmate...you win
Kenny Stewart
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Re: Johnny Morris buys Legend?
[Re: WAWI]
#12387447
08/16/17 12:06 AM
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Joined: Mar 2005
Posts: 7,049
SC-001
TFF Celebrity
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TFF Celebrity
Joined: Mar 2005
Posts: 7,049 |
Wasn't there a minor drug test issue in Arkansas faculty? do tell...
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Re: Johnny Morris buys Legend?
[Re: Texoma Striper Company]
#12387458
08/16/17 12:11 AM
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Joined: Nov 2008
Posts: 7,620
361V
TFF Celebrity
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TFF Celebrity
Joined: Nov 2008
Posts: 7,620 |
Never ever ever ever ever pay cash for anything that has a diminishing value.Car ,Boat,RV Horse,wife anything that decreases in value.
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Re: Johnny Morris buys Legend?
[Re: Jarrett Latta]
#12387478
08/16/17 12:21 AM
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Joined: Jul 2011
Posts: 9,200
the skipper
TFF Celebrity
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TFF Celebrity
Joined: Jul 2011
Posts: 9,200 |
There's 2 philosophies out there, live debt free or finance stuff and use the extra money to gain more. In the end neither are really wrong. You pay now or later
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