Earn Bigger Bucks for your Boat: 5 Ways your Boat Could Help You Save for Retirement

 

  1. Live on Your Boat & Save Extra Bucks

If you’re looking to cut the cost of living (literally) you might want to consider a houseboat. According to a source who shared his insight with Business Insider, who discovered after doing the math that he’d save $50,000 over three years, if he lived on board instead of renting an apartment.

 

 

 

  1. Use your Boat as an Extra Tax Write-off

Buying a new boat might be worth it if you’re preparing for retirement and you’re looking for an extra tax write-off. By knowing the rules surrounding mortgage interest deductions for second homes, you’ll be able to make sure that your boat has all of the features and amenities you’ll need to qualify for the deduction.

  1. Create a listing and rent your boat through Boatsetter

As boat owners, we all know that even when we’re not using our boats, they still cost us money. Slip fees, insurance, and maintenance don’t stop just because our boats are sitting at the dock. At the same time, there are lots of people who aren’t ready to invest in a boat, but who still want to get out on the water. Companies such as Airbnb, which allow people to rent out unused rooms on a daily basis, have been around for a few years, and the concept has now migrated to boats.

  1. Be a Captain for a Day with Boatsetter

Interested in a new career (even after retirement) that could potentially bring in the extra bucks? When joining a boat sharing company, such as Boatsetter, you could potentially earn up to $800/month (not including tips from passengers!)

Renting out your boat would be a “part” time job and as a captain, you create your own schedule and can decide when you are available to drive.

Currently, Boatsetter has 1,419 captains and the number is always growing. Similar to uber, you create your own schedule (based on how much/little you want to work) and you are insured by Boatsetter.

  1. Use your Boat as a venue and host a party for a day

Another option is to offer your boat or yacht as a special venue for events that deserve a bit of celebration! For instance, you could host an afternoon wedding cruise with a few canapes or offer from your local catering company: a luxury option for your inventory!