To spend or not to spend

[pirate]

I’ve had my 70C for many years I know it’s a solid airframe 20 plus years in my heated hangar. As the years passed by and as I had the (cash)  I’ve done many upgrades spreader out. The engine, prop, bladders, speed mods, windows,  paint , interior,  S-etc 30,  gpss and just last year I put another 30k into my panel, this time to get ADSB compliant and finally get a wass gps plus some other goodies.  I did this all for me! It’s what I,like to do. My wife and I love the little C, great IFR cross country and very economical to operate.

I’m almost done building my 200hp RV -7 and originally thought I’d sell my Mooney once completed but it’s been such a joy to own and fly cross country we decided to do the upgrades last year and keep it. 

[Skates97]

45 minutes ago, Pirate said:

I’ve had my 70C for many years I know it’s a solid airframe 20 plus years in my heated hangar. As the years passed by and as I had the (cash)  I’ve done many upgrades spreader out. The engine, prop, bladders, speed mods, windows,  paint , interior,  S-etc 30,  gpss and just last year I put another 30k into my panel, this time to get ADSB compliant and finally get a wass gps plus some other goodies.  I did this all for me! It’s what I,like to do. My wife and I love the little C, great IFR cross country and very economical to operate.

I’m almost done building my 200hp RV -7 and originally thought I’d sell my Mooney once completed but it’s been such a joy to own and fly cross country we decided to do the upgrades last year and keep it. 

This post is something I could see myself saying 20 years down the road. (Including the Mooney sharing a hangar with something else, I just don't know what that is yet...)

[Lami]

A lot of really good suggestions.  I am of the mind if it makes you happy do it.  This winter I have been working on up dating radio, VOR, seats and set belts.   I'm looking into the 3 or 4 point harness type. Problem  I have is I don't know where to find. Sent email to Mooney today and they gave me part number for the replacement where as I want a totally different type.  I can't stand the shoulder strap comes undone all the time.  Anybody changed out there's for a 3 or 4 point? Would like to know where you got them. 

[carusoam]

Lami,

There is a thread around here regarding safety harnesses.  There is a particular supplier that has found a way to make them available.

I believe Hooker Harness are the people. (Not sure)

Use the search function at the top of your screen.  You should be able to find it.

 

Gus, the topic says spend or not to spend...  I’m pro-spend when it comes to Forever Mooneys...

+1 for safety devices... harness, carb temp sensor...

+2 for additional hp... and training...   

Best regards,

-a-

 

[Mooneymite]

7 hours ago, carusoam said:

Gus, the topic says spend or not to spend...  I’m pro-spend when it comes to Forever Mooneys...

I live in a fly-in community where I've witnessed the reality of "forever airplanes".  Forever doesn't seem to be very long in some cases and the widow ends up taking the loss when she sells.  In some cases this can include paying off debt incurred for up-grading a forever plane.

While it's great to compartmentalize our toys into a special financial category, decisions have consequences.

[gsxrpilot]

7 hours ago, Mooneymite said:

I live in a fly-in community where I've witnessed the reality of "forever airplanes".  Forever doesn't seem to be very long in some cases and the widow ends up taking the loss when she sells.  In some cases this can include paying off debt incurred for up-grading a forever plane.

While it's great to compartmentalize our toys into a special financial category, decisions have consequences.

Going into debt for upgrades on these toys is stupid, if it truly is a toy. Mine is just a toy. And while I've certainly overspent on it, I'm not spending my retirement or debt to do it. If I wasn't spending money on my Mooney, I'd be spending it on other things my wife probably would not like either. 

If I go early, my wife will get what she'll get for the plane. And it won't be nearly what I've spent on it. But it will be more than she'd get for all the rounds of golf, or the tequila I would have spent it on.

[Mooneymite]

15 minutes ago, gsxrpilot said:

...But it will be more than she'd get for all the rounds of golf, or the tequila I would have spent it on.

Now there's an uncontested point!  

And I agree that debt for toys is a bad idea unless there's a sound business reason for it.