Million Net Worth Caller Asks Dave Ramsey: Is a $400,000 Boat Too Expensive?

A caller to Dave Ramsey’s “Ramsey Everyday Millionaires” asked whether a $400,000 Great Harbor trawler was too expensive, despite reporting a $4 million net worth and $250,000 in annual income. The caller noted the purchase would break Ramsey’s “half of your income” rule, since the boat, along with “boats, motors, wheels et cetera,” would amount to more than half of yearly income. Ramsey replied that the rule doesn’t apply in the caller’s “no income, low income portion of retirement” scenario, where wealth is already built. He reframed the risk as the boat’s share of the nest egg: about 10% of $4 million. Using a 4% safe withdrawal rate, the model showed spending could drop from about $160,000 to $144,000 annually—around $16,000 less—without derailing retirement.