REODayton...if you don't have a boat you are missing out on one of the best things one can spend their money on- best way to get away from it all while not leaving your own town!
MY father in law has one. He takes my wife and kids out on it. I stepped foot on it once (in his driveway on the pulling device).
I've seen my 5 year old in her lifejacket get into the water, I know they are perfectly safe, and the odds of sinkage are slim. I can swim I think, but do not want to test my skills in a real life situation, so I never fo into water that I cannot touch the bottom in (5'11").
I won't let my fears limit the family experience, as Dad does have a boat that is always on the water. I don't like it, but they have a blast on it, so I stay on the shore and entertain myself. I even recently drove 2 hours out of my way to awaoid gettin on a ferry for a 20 minute hop across the river.