The tip for today is a simple one. If you do not know the answer to a question, ask for help.
This might sound like the most simple piece of advice you have ever been given, after all in your everyday life this is exactly what you would do if you were stuck with something. Isn’t it?
In the age of the smart phone, tablet, Google, social media etc most people feel they can find the answer to anything online. Normally this is true but bear something in mind. Asking a question on social media these days is very similar to sitting with a group of friends and asking the same question. A lot of the time you get what others think is the right answer, you will also get a lot of opinion which is no help, and some times you will get facts, i.e. the right answer.
If you need the right answer to a really important question, one where the wrong answer may cost you a lot of money, change your life or worse what would you do?
a) Ask your friends and hope someone knows?
b) Take to social media?
c) Ask a specialist?
Now, answer A and B are a good place to start but if you cannot guarantee that the answer you get is correct would you risk it? I didn’t think so. Therefore you are left with option C. This may cost you a little bit of money as it is professional, guaranteed advice but, in the long run this is a tiny % of what it could cost you if you got it wrong.
The Tip for the day today may seem like the most sensible thing ever to a lot of you but when it comes to your life and your future why take the risk?
What we are actually getting at here is this: Your financial affairs are very important to you, or at least should be. Get it right and life is easy, get it wrong and all of a sudden you could have a life full of debt, black marks against your name and credit issues etc. Ask yourself this. If you can get the advice of a professional so you can happily go about your business knowing you are in safe hands for the rest of your working life, would you do it? I thought so.
We have been talking to a huge amount of Superyacht crew recently who have contacted us either because they have seen us on Facebook, visited our website, read our articles, or been referred by friends. All the crew we talk to have one thing in common, they need help and advice with either their tax, banking, investments, mortgages, property investment, insurance or all of the above. They don’t call for a chat, they call because they are tired of worrying about these things, can’t find the answers and want to sort out their problems.
The main question is always tax. “Where do I stand?” “What is my tax situation?”. This is a big deal at the moment and something you need to understand clearly and ensure you know what you are supposed to be doing, and then doing it. Yes, there are lots of forums where a huge amount of information is posted. Is this info correct? It could be. But, what is correct for one person may not necessarily be correct for another. There are a great deal of rules, tests, checks etc in place which determine your tax situation for example and what may be correct for one crew member on your yacht may not be correct for you.
If you aren’t one of the many crew we talk to every day then don’t wait to have second hand information that may not be appropriate to you passed down by friends, pick up the phone. Getting in touch is free and is a step in the right direction. There is only one way to guarantee the information you have is right for you and that is to talk to someone about the specifics of your situation.
Now here is the bit you will hopefully like. At Crew Family Office we are happy to talk for as long as it takes, free of charge. We want to know about your situation, your nationality, residential and tax status and all the things you are concerned about. We will talk through all your questions and give you a clear answer. If for some reason we are not able to help you we will tell you during the conversation and try and guide you to someone who can help. This has never happened but there is always a first time.
If we can help, we will tell you what we can do and, if you are happy for us to do this we will ask you to join us. Membership costs £25 per year and we will be 100% clear about any costs associated with fixing your problems. These will generally be taken care of by one of our partners but we will never pass you over until you are clear of the costs and are happy with them.
Therefore, if you need to talk to us what is stopping you. Pick up the phone, email, post on our Facebook page or Tweet us. We will always answer.
The longer you leave it the harder it is to fix.