If you are reasonably well off, then you can get all sorts of things that someone with less of a portfolio probably can’t afford. While you probably shouldn’t go crazy with your purchases, you might want to treat yourself a little sometimes. Maybe you worked very hard for your money, and now, you’d like to enjoy the fruits of your labor.
Alternatively, maybe you got some money through a lawsuit if someone injured you or made you sick. Contacting a personal injury attorney to help you becomes necessary in that situation. You need an attorney who can gather the evidence you need to prove that this individual or company acted negligently or harmed you through their inaction.
You can spend your money in various ways. Perhaps buying into fractional ownership of a jet appeals. Some people don’t understand this concept or don’t even know that it’s a possibility. In this article, we’ll talk about why spending some money in this way might make you happy.
Some people have not heard of the fractional jet ownership concept. Basically, it means that you and a group of other individuals are all chipping in to buy a private jet together. Rather than one of you owning it, you all do collectively.
In many ways, it’s like buying into a timeshare. Instead of having a vacation home in Mexico or Tahiti where you can stay for a couple of weeks each year, instead, you can occasionally use a private jet that you partially own.
Usually, you and the other owners will get together and work out a schedule. Each of you will agree on days when you can use the jet, and you will probably plan vacations around those dates. You might have the same set schedule every year, or maybe at the start of each year you will come up with a new one.
Fractional jet ownership does not come cheap, but it’s also not insanely out of reach to the point where only a handful of people in the world can do it. You can usually buy into one of these cooperative plans starting at about $100K. You can also pay more if you want to use the jet more.
Frequently, the individuals or families who put in on the private jet will not put in the exact some amounts. Someone who contributed $300K will logically be able to use it three times as much as someone who put in $100K.
If you’re on the wealthier side, then maybe you and just one or two other families will put in. The money you contribute doesn’t just go to using the jet. It will also go toward storing it and the inherent maintenance and pilot costs.
Once you have put in on a fractional jet, and you and a lawyer have sorted out all the paperwork, then you can decide what to do with it. You might use it to take a trip to Las Vegas to watch a huge boxing match once a year.
Maybe you’ll take it somewhere tropical. Lying out on the beach and getting a tan might sound nice, especially if you live somewhere that gets very cold and snowy in the winter.
You might invite several friends to come with you. If some of them don’t have your wealth, you can show them a good time. They will probably appreciate relaxing on board while you all sip champagne, nibble high-end snacks, and talk about how much fun you’ll have when you arrive at your destination.
You may also buy into a fractional jet ownership plan as a gift to someone you care about. Maybe you have a spouse who you love very much and for whom you would do anything. They might like it if you surprise them with this kind of a gift.
Think how romantic it will seem if you tell them you bought into a fractional jet. For your wedding anniversary, you might fly to Paris, Tokyo, or Rome. You can wine and dine them with strawberries or cognac. You can have the plane all to yourselves while you fly through the night sky.
Fractional jet ownership probably won’t go on the list of things you need, but if you want it and you can afford it, then why not reward yourself? Sometimes, you need to remind yourself that life flashes by very quickly. Maybe you’re a workaholic, and you need to get away sometimes to break up the routine.
That is precisely what you can do with this kind of a purchase. While it’s undeniably opulent, if you’re generous and seldom think of yourself, you shouldn’t feel guilty about this kind of indulgence.
Also, you can make some memories with the family members and friends who you care about most. In your Golden Years, you may look back at the times you jetted off to an exotic destination and felt like royalty.
You might recall taking your daughter on a private jet to Disneyland for her thirteenth birthday. Maybe you’ll think about a time when you took all your best buddies to the Superbowl.
If you’re thinking about this kind of a purchase, take a look at your finances and see whether it’s possible. You might also talk to your financial advisor and see if they think you can swing it.
Not everyone can, but treating yourself in this way might make you feel like you have something to look forward to every year. You may eagerly anticipate the one or two weekends a year when you can use your private jet, marking it on the calendar. When you board, you will probably feel like you’re living a charmed life.
