A preload system for bearings in a waterjet propulsion apparatus, the apparatus including a water intake section and a pumping unit including a bearing cartridge. The bearing cartridge is designed such that during operation a preload system provides tailoring between radial and axial thermal growths of a plurality of bearing components that comprise the bearing cartridge and such that an initial ambient temperature preload condition can be maintained or reduced during normal water mode operation conditions. The preload system includes a plurality of spacers that when positioned relative to the bearing components of the bearing cartridge prevent relative motion between the bearing components during land mode operation and maintain or reduce the initial ambient room temperature preload condition during normal water mode operation.