Sounds like something your parents would say to you isn’t it? The problem is, by the time you realised they were right it’s too late. You’ve already missed a few BIG opportunities.
We know Superyacht Crew hate being told to get organised. Your life is all about structure already and you don’t need anymore, right? But what if one day’s worth of planning could make your life perfect?
Now we’ve got your attention
We are going to keep this short and sweet. All of the tips on this list are things you should be doing if you work on a Superyacht. If you aren’t doing them it’s time for you to get in touch so we can fix it for you.
Here we go!
TAX returns: You need to declare your income or you WILL get a nasty surprise in the form of a FINE. If you aren’t doing this, get in touch. You need to be doing this to be allowed to do the rest of the things on this list.
Savings: How much of your salary do you save each month? This should be an absolute minimum of 20%. But better if it is closer to 50% This includes anything you put into investments etc.
Property: This is the big one and all crew invest in property. Don’t they? If you are the one at the back shaking your head then don’t miss out. If you have been in yachting for more than two years you should be looking at buying property.
Investments: Whether this is stocks and shares, ISA’s, pensions or alternative investment make sure you are doing something. Your money needs to be working for you. Yachting careers are short, then it’s back to the real world.
Pretty much. Once you start doing all these things it’s easy. The big problem we see with a lot of crew is getting started. The reality is this, all you have to do is make the decision to do it, WE take care of the rest.
You’ve got 10 years
The average amount of time people spend working on yachts is 10 years so think about this. If you want to be able to leave Yachting with some money, property, passive income and a financially secure future then it’s time to get moving.
ALL our members get a free planning session with our regulated financial advisors. Lots of them do this but there are plenty who don’t. If you are one of them, or even a crew member who hasn’t joined us yet get in touch. Time to get organised.
OR you are wasting your time and money!
If you need help with anything we have mentioned today please get in touch. The longer you leave it to do all these things, the harder it will be to catch up. All this means is you either have to work longer to achieve what you want, or will leave yachting not quite as well off as you had hoped.