No. You should not buy a yacht. You can't afford it.
"But Cody, I totally have the two million dollars to buy an entry level yacht"
I don't care. You can not afford it.
Source: Picture of my uncle's yacht, Sojourn against an Alaskan glacier.
Can you afford to spend 20% minimum of the purchase price annually on maintenance, docking, and crew?
Do you have enough liquidity in your other assets so that if an emergency came up you would not have to sell the yacht to cover them?
Are you buying it as an investment in the hopes it will go up in value, or it is a stable store of value for your money?
Yes
Yes
No
If your answers were different than that, don't buy a yacht. And if your answers were the same just think.....do you really really really really REALLY want one.
This has been an important lesson in not being a dummy with your money.
Please like and upvote. And if you have a yacht...can I please use it for free?