Retirement Planning is Fun
Rich and Suzy Koths of Michigan have discovered that
retirement planning isn’t as dry and boring
as it sounds. In fact, it can be terrific fun.
Still “nine years and nine months” away from
retirement (and obviously counting) the GM engineer
and his wife Suzy are fondly picturing the day when,
free at last, they will spend summers cruising the
Great Lakes and winters exploring Florida’s Gulf
Coast aboard the yacht they are now purchasing with
other people’s money.
met the Koths (pronounced “Coats”) in the winter of
2002 when they came down to Florida and chartered
one of our power yachts in paradise. Paradise, as
you may know, is cruising Southwest Florida’s placid
channel behind exotic Gulf barrier islands like
Sanibel, Pine, Captiva, Cayo Costa, Gasparilla,
Cabbage Key and Useppa.
Rich and Suzy enjoyed their charter cruise so much
they asked us for more details about what Vic and I
call the “Floating Retirement Plan.” This is the
plan in a nutshell: Buy a sail or power yacht, new
or used. Put it to work for you as a charter boat.
Chartering revenue helps pay for the boat and
The Koths purchased a Jefferson 42 Viscount with
huge cabins fore and aft, two baths, salon, dinette,
wet bar, heat and air conditioning. It has
everything except a Home Sweet Home sign. They put
excess chartering revenue they earn back into their
boat – appropriately named Final Sea-Lection
-- buying new electronics and other nest-feathering
The Koths escape snow country and cruise about three
times a year on their winter home away from home.
They like it that Final Sea-Lection stays
busy with charters and is looked after carefully by
our maintenance crew. It gives them confidence that
all systems are go when they take a little vacation
time and fly down from Michigan for a cruise on
Golly, the way real home prices are going up, it’s a
wonder more people who want the best of both worlds
– summer up north, winter down south -- don’t
consider a floating home. Each year new boats cost a
little more than the year before but home prices are
zooming up beyond -- dare I say it -- reason.
Rich and Suzy’s winter home is one of the most
popular vessels in our charter fleet here at
Marinatown Marina. In fact, the chartering business
is very good. That sound you heard was me, the
proprietor of a certain yacht chartering enterprise,
crying for more boats to charter. The law of supply
and demand is a good law except sometimes it doesn’t
feel so good to the buyer or the seller.
fact, I’m actively looking for more people like the
Koths who long for the day when they can retire and
actually have time – and a vessel – to sail into the
sunset. Meanwhile, Vic and I will put their boat to
work earning money to keep the dream alive.
The way I figure it, life is only as good as you