I’m frequently asked by crew, “what’s the best single piece of advice you can give me?” The answer has absolutely nothing to do with yachting or boats in any way. The answer is the same to every person that asks it, , “start to invest your money wisely”… Now is a good time to think about what you should be doing with all your money. As many yacht crew will still have a lot of time on their hands, now is a very good time to start thinking about what you will do with all this money that you are earning. A surprizing number of yacht crew really do not make much if any effort to invest their money wisely. Letting it pile up in the bank where you ordinarily get a pittance of interest whilst the bank loan out YOUR money to borrowers at good interest rates is just plain silly. Remember when you have money on deposit in the bank you have literally lent it to the bank, and they have consequently borrowed it. They have borrowed it form you so that they can then lend it to someone else at a rate that earns them billions of pounds of profit over the years. Why are you letting the banks profit from your hard earned money whilst they give you effectively nothing in return. It makes no sense at all. I am not here to suggest what you should invest in. Investors must always perform their own due diligence relating to those they chose to work with and invest with. Rather I am just here to make people aware that doing nothing with your money is not at all wise. As we are starting to recover from the global pandemic and markets are low, this is a great time to get in on investing. You have time on your hands so start to think about making your money work for you. Research, talk to someone that can help you make the right decisions and do something, rather than just letting he banks profit from your money. If all this is very new to you here are a couple of pointers. Do some research on Warren Buffet. He is the World’s most successful investor. That aside he is an extraordinary man, with an amazing philosophy and ethos. He is a great philanthropist and has encouraged many super rich people to participate in some big philanthropic projects. He is a man of great wisdom and integrity and the best model there is for investing. Investing takes time. There are no quick fixes without huge risk at least. The hardest part of investing is generating he funds to put into investment. As yacht crew you have extraordinary disposable income compared to your peers. Who else at the age of 19 or 20 can be banking € 2,500 a month? Very few indeed. The next bog pointer on investing is that the longer you are invested the more powerful a tool it becomes for you. You need to be in it for the long term. You will frequently hear Warren Buffet talk about the incredible power of compounding interest. I’m putting together a short video using MS Excel that will show you the incredible power of compounded interest. This should prove to you beyond doubt that the best way to invest is in the long term as the magic on the growth curve does not start to happen for a good few years, but when it does you will really start to see results. So, now is a great time to start thinking about this. Whatever you do, do something, the younger you start the sooner you can grow your funds and the sooner you can then pursue your own dreams on your own terms. Different people have different views about what money should do for you with all it’s various trappings. For me the greatest advantage that money can bring, is not all the material stuff, but simply the freedom to start doing what you really want to with your own life and not being little more than a slave to a large machine. Financial independence equates to freedom. Smart investment can easily get you out of yachting in 15 years if you start young. So by 35 you could be well on your way to financial independence. But it will not happen if you do not start making it happen. Do something now to get the ball rolling. If you invest wisely, you will be very glad that you started sooner rather than later.