You’ve heard it before: The three happiest days of a boater’s life are the day he buys his boat, the day he sells his boat and the day his best friend buys a boat.

So why are more people in their 50s – even investment guru Suze Orman – ignoring the warnings and becoming first-time boat owners?

Midlife crisis? Perhaps.

Steve Carr, 59, of Lake Worth, made his big purchase less than two months ago and joked that "boats might be the new sports car" for men his age.

A lifelong dream come true? That’s part of it, too.

Dr. Pasquale Montesano, 57, of Palm Beach Gardens, made the splash about a year ago, and said it was something he’d wanted to do since he was a little boy canoeing around the Adirondack Mountains in upstate New York.

"I just had to wait until the time was right," said Montesano.

For Baby Boomers – who are used to charting their own course – learning to skipper a boat is another challenge.

"These buyers are at a point in their lives where they’re empty-nesters and they want a new adventure," said John Daigle, a sales representative with MarineMax, which has more than 20 boat dealerships throughout the state including locations in Pompano Beach and Stuart. "It’s great for couples, too, because it’s something they can do together. Operating a boat is a lot more involved than just turning a key, and a lot of the things you do when boating requires two people, so you have to work as a team."

Daigle wouldn’t go so far as to call boating a form of couples therapy – but let’s just say it requires more teamwork to navigate the Boynton Inlet than it does to drive a Porsche convertible down A1A.

"A lot of men may buy a Harley or a Corvette," Daigle says, "and I suppose you can share those to some extent, but boating is different."

Like most everything else, boat sales have been hit by the recession. In 2004, 307,900 new powerboats and 828,555 pre-owned boats were sold. By 2009, the number had dropped to 153,550 new boats and 780,300 pre-owned, according to the National Marine Manufacturers Association, which predicts about 130,500 new powerboats will be sold in 2010.

"But it’s important to remember that boating remains a big business," NMMA head Thom Dammrich said in September. "Sales are down but the industry is still alive."

One way Daigle and other MarineMax sales reps lure potential Boomer boaters is to take them on overnight cruises.

"We take them down to Key West or the Bahamas for a couple days," he says, "and when the first-time buyers in their 50s see the potential of their boats, they get very excited."

They find out what longtime boaters know: Boating might be a hobby in your 30s, but it can become a lifestyle when you’re ready to retire. And when it becomes a lifestyle – it’s not unusual for these boaters to trade up to boats they can spend several days aboard, like 35-footers and up, Daigle says.

"When you purchase your first boat, you’re usually a little intimidated about buying something too big because of the fear of the unknown. It’s a starting point," he said. "But once these guys get a little more comfortable with it, and when they see what a larger boat can do in terms of where they can go and what they can do, they decide to move up in size. I especially notice that with the guys over 50. They’re always looking to get bigger and bigger."

‘If you can afford the investment … then that enjoyment of life is priceless.’

SUZE ORMAN, 58, Deerfield Beach

Her boat: Sea Ray 280 Sundeck

Suze Orman knows her way around money – she’s a financial expert, bestselling author and host of CNBC’s The Suze Orman Show.

The South Florida resident also knows how to captain a boat – thanks to her experience behind the wheel of her first boat, a Sea Ray 280 Sundeck.

Why’d she get a boat at her age? Especially when she concedes that, from a money standpoint, "a boat is never a good investment"?

We asked her.

Question: You purchased your first boat earlier this year at age 58. Why?

Answer: I used to sit on my back terrace and watch people go up and down the Intracoastal on their boats. From the front terrace, I watched them out on the ocean. It looked like they were having fun, and I decided I’d like to try it.

Q: What was your search for a boat like?

A: Believe it or not, my search lasted about five or six years. I was excited about the idea of having a boat, but when you have money, it’s very easy to buy things and never use them. I didn’t want to do that, so I kept telling myself to wait, and if I still want a boat the next year, I’d get one. I did that for about three years and then finally got serious about looking. After a couple more years, I found the perfect boat for me.

Q: What did you buy?

A: After looking around and doing tons of research, I bought a Sea Ray 280 Sundeck. I determined what my needs were – I wanted to be able to be in the sun upfront; I wanted enough space between the front and back so if I was having a conversation in the front, the people in the back wouldn’t have to hear it; I wanted to be able to take at least nine people out with me; and I’m a woman, so I wanted a bathroom! I also wanted a boat that I could handle myself because I don’t want a captain, and one that wouldn’t cost me a fortune mechanically.

Q: You waited until you were in your 50s to become a boat owner. Is that something you see or hear about quite often?

A: If people called into my show and said they were in their 50s and were considering buying a boat, they would be scared to death of what I would tell them.

Q: So it’s safe to say that you don’t consider boats to be a good investment?

A: A boat is never a good investment. In fact, a boat is probably one of the lousiest investments that you’ll ever make in terms of your money, but there are some times when an investment is more important because of the joy and pleasure that it gives you. If you can afford the investment, and I don’t just mean buying a boat, I’m talking about the gasoline, insurance, docking, repair, and all that stuff, then that enjoyment of life is priceless.

Q: Now that you’ve been a boat owner for a few months, is it everything you hoped it would be?

A: Absolutely. I love my boat! I can’t believe I waited so long to get it. In fact, I stay pretty busy and travel a lot, but when I’m away, I’m constantly counting down the days until I can get back on my boat. I think about my boat more than anything. It’s my baby.

Q: I know Sea Ray offers Women on Water classes at many of its MarineMax dealerships, and you’re a big supporter of those, correct?

A: When I’m out on the Intracoastal or the ocean, I see all these boats with women on them, but I could count on one hand how many women were actually behind the wheel. What is that about? The Women on Water program is great, and it’s really important for women to get involved as much as possible with the things they want to do. I have become a serious boat captain, and I can do anything that needs to be done on the boat. I’m a woman on the water, and I can go anywhere I want.

‘The boat doesn’t make me feel younger, but it sure is a lot of fun.’

STEVE CARR, 59, Lake Worth

His boat: 18-foot Tahoe

Carr and his partner, Terry Ralston, 49, have a condo right near Bryant Park and the Intracoastal, and "when you live that close to the water, I suppose you just get the fever" – to buy a boat.

They picked an 18-foot Tahoe because "we liked the look of it and it was the right size for what we want to do and the number of people we want it to carry," says Carr, who’s the finance director for the city of Lake Worth.

They took boat safety courses from the Palm Beach Sail & Power Squadron and have been out on the water just about every weekend since they got the boat in September.

"We’ve been over to Peanut Island a few times and taken some friends up and down the Intracoastal. We get more comfortable every time we go out, and it’s been great."

‘So many people told me that they had boats and never used them, but I knew that wouldn’t be the case with me.’

PASQUALE MONTESANO, 57, Palm Beach Gardens

His boat: 32-foot Intrepid

Montesano, an orthopedic spine surgeon, moved to Palm Beach County three years ago from California and rediscovered the ocean.

"I was never drawn to the ocean out there (California). It looks beautiful but you can’t really use it because it’s freezing," he says. "You also don’t have the whole concept of the Intracoastal, where there are places to go and things to do."

A friend of his had a 39-foot Intrepid he liked, so he chose a 32-foot Intrepid.

"I wanted to start with something a little smaller, so I could get used to handling a boat. It was the best purchase I ever made."

Like many 50-somethings who purchase a first boat, Montesano went beyond boater-training courses and hired a captain to teach him the ropes.

"Sometimes I just go out and do drills, practicing the proper way to dock the boat or get in and out of the inlet. Other times I just go cruising, and I also try to do some dolphin fishing once in a while," says the surgeon.

"I really love to be able to see the water, feel the water and taste the water … boating gets you closer to doing that. The feeling of being out on the ocean and being able to just dive in, then get back on board, is spectacular."

LARGEST YACHT IN THE U.S.

Making its debut at the Fort Lauderdale Boat Show, Cakewalk measures 281 feet and has six decks.

It’s big: At 281 feet, Cakewalk is the longest yacht built in the United States since the 1930s, when Bath Iron Works of Maine delivered J.P. Morgan Jr.’s 343-foot Corsair IV, a vessel that spent its final years as a commercial cruise ship and ended up a shipwreck.

It’s spacious: At nearly 3,000 gross tons (a measure of volume, not weight), the six-deck Cakewalk is believed to be the most spacious yacht ever built in America.

22 bedrooms! Cakewalk features seven staterooms for owners and guests and more than 15 cabins for staff and crew. Other features include a gym, spa, multiple lounge areas, dining salon, library with fireplace, Jacuzzis, theater, bar, card tables, and more.

There are four Yamaha waverunners and two Seabob Cayago water scooters on board, as well as scuba gear, kayaks, water skis and kayaks.

It’s pricey: It cost $82 million.

It’s quality: Charles Gallagher, the Denver private equity investor who hired Derecktor Shipyards of Long Island Sound to build Cakewalk, said that size was not his main concern.

"There’s no such thing as having the largest yacht in the world," he told the Hartford Courant. "But it is important to us to have the finest quality yacht in the world. That’s what I set out for."

Got a million? Rent it for a week: Cakewalk will be available for charter for 12 to 14 weeks a year, its captain says. Estimated cost: $1 million per week.

What ‘Yachting’ magazine says: George Sass, Jr., editor-in-chief of Yachting magazine, which dates to 1907 when J.P Morgan Sr. was still the top dog on Wall Street, said he considers Cakewalk’s size – short of truly gargantuan – an aesthetic asset. It’s the largest yacht built in America in decades. Its size makes it seem, he said, "like it belongs on the water. "

See it at the Fort Lauderdale Boat Show: Cakewalk makes its public debut Oct. 28 through Nov. 1 in Fort Lauderdale.

FORT LAUDERDALE INTERNATIONAL BOAT SHOW

• What: It’s the largest in-water boat show in the world, featuring more than $3 billion worth of boats, yachts and accessories.
• When and where: Oct. 28 through Nov. 1 at five locations: Bahia Mar Yachting Center, Hall of Fame Marina, Las Olas Municipal Marina, Hilton Fort Lauderdale Marina and Broward County Convention Center.
• Times: 10 a.m. to 7 p.m. Oct. 28 through Oct. 31 and 10 a.m. to 5 p.m. on Nov. 1.
• Cost: General admission is $18 ($16 online). Children ages 6-15 are $5 ($3 online), and children under 6 are free.
• Tickets, more information: www.showmanagement.com