Do you know what a round tuit is? It’s a magical disc. Here’s a picture:

It gives people the ability to do something immediately that they would otherwise have put off doing—usually while promising that they’ll get a round to it one day.

Owning a round tuit gets stuff done sooner rather than later. It helps superyacht crew take advantage of the most important moment in time: now. 

It does so by cutting through all the distractions crew have to deal with that get in the way of making the most of their financial opportunity in yachting. That’s especially important during their earliest days of their career, because these early days will earn them the most over the long term.

Delay today means decay tomorrow

A superyacht is not an easy working environment. The work is intense and demanding, both physically and mentally. There’s a lot going on, day after long day. Every working day presents an endless supply of reasons to postpone doing important things for yourself. The boat comes first, after all. (Actually, it doesn’t; you do. But lots of people will tell you otherwise. Ignore them.)

Not only does the boat give superyacht crew plenty of things to be getting on with, life away from the boat does too. There is a lot of fun to be had in life, and you certainly deserve to go after that.

The thing is, between the demands of the superyacht and the fun things in life, you can lose track of time.

Time is the most valuable thing you have. You only have a finite amount of it on Earth. You cannot make more of it. 

Worse still, time is a slippery jerk. It’s always on the go. Always. Every second of every day. Even while you sleep. It can’t be reasoned with. It can’t be bargained with. And it absolutely will not stop, ever, until you are dead. Even then it’ll keep going. And, unlike in sci-fi movies, you can’t send Arnold Schwarzenegger back in time to fix things you should have done earlier.
But if you acknowledge that time passes relentlessly, you can make it your friend. One of your absolute best friends, in fact—IF, you use it well. This is particularly true of your money and future wealth.

The sooner you start, the more powerful a friend it will be. Because with every passing second, time loses some of its power to help you.

That’s not time’s fault.

It’s yours. You’re the one waiting to get a round tuit.

And waiting can cost you a lot.

A.

Lot.

€26,000. €52,000. Maybe even half a million or a million.

How to lose €26,000 (with no effort at all)

How does €50 sound to you? A round of drinks at your favourite bar, maybe with some finger food? Or one half of a nice meal out? €50 isn’t a big deal really, is it?

We’re not saying €50 is nothing, but it’s not going to break the bank either. In fact, most yacht crew wouldn’t bat an eyelid at spending €50.

But imagine if you spent €50 a week for 10 years. If you had started a decade ago, you’d have spent €26,000 by now. That’s a different story. There isn’t anyone on board a superyacht (apart from the owner, maybe) who wouldn’t notice spending €26,000.

You know where this is going, don’t you?  You’ve figured out that we’re not going to talk about spending €50 a week for 10 years, but saving it. In other words, if you started a decade ago, you’d have saved up €26,000 by now.

€100 a week would have got you €52,000. Even at the lowest pay levels in the industry €100 is between 2.5% and 5% of your monthly salary. It’s a fraction of your income that punches above its weight over time. You don’t really notice it on a weekly basis, but you certainly do after 10 years.

Moreover, if you had put it into a savings plan that averages growth of 5% annually, compound interest would have added over €9,000, giving you more than €61,025 after 10 years.

By the way, thanks to the magic marriage between time and compound interest, putting aside €200 a month (roughly €50 a week) into a savings plan that averages growth of 5%/ annum from the age of 25 will net you over €290,000 by the time you reach 65. (You can read more about compound interest here: Best Savings Practices for Superyacht Crew.

Getting to age 50 or 60 is like going to another galaxy

Yes, we know: ” 50 or 65 is so far, faraway.” It seems impossibly distant.

It isn’t.

Even if you are 25 now. Ask anyone in their 50s how fast life goes by. ‘Warp speed’ doesn’t cut it. Time goes fast and it speeds up over time. Your second 25 years will go much more quickly than your first 25 years.

Unfortunately, most people don’t listen. And then one day they wake up and ask, “How am I 50 already?” Believe us when we say that 50 comes quickly and when you get there suddenly 65 isn’t 15 years away; it feels much, much closer. But, like we say, most people don’t listen. But they all experience the same moment eventually.

However most yacht crew won’t stay in the industry until they are 65. It’s a young person’s business. How many yacht crew do you see in their 50’s and 60’s?

Most crew spend between 10 and 15 years in the business, so to become financially independent during that time and you can, you have to save more and faster. 

In the real world, 40 years of saving €400 a month will put over €580,000 in your pocket when you’re 65.  As yacht crew you need to achieve at least this within 10-15 years.  

OK, let’s go back to 10 years. If you stay in yachting for the next 10 years, and if you start today, you could have that €61,025, when you leave if you set aside €100 a week.

But the important thing to remember is that the €100 you put in this week is going to work much, much harder for you than the €100 you put in a week from the end of your savings journey. The €100 at the end won’t add much to your total other than itself. But the €100 you put in at the start will have grown to around €160. It will have added 60% to its own value.

So the money you put in early is the most valuable money you can invest. Every week or month you delay is costing you in financial growth. You can even put a price tag on it:

because you didn’t start saving €50 a week 10 years ago, you don’t have €26,000 today.

How superyacht crew win at finances: start early

Do you plan on living another 10 years?

We’re going to guess the answer is, “Yes.”

Well, if you plan on being around in 10 years’ time, why not do something for yourself now that will give you a massive payday when you get there?

Because imagine if you’d done the same for yourself 10 years ago, if you’d had the financial ability to do so.

You might not have €26,000 or €52,000 today, but you’d have something.

And now you have something even more powerful: knowledge and understanding that if you start today, you could have a nice sum of money in the future.

It gets better, though.

€52,000 over a 10-year period is nothing for superyacht crew. If you start today and cut through all the distractions to set up a saving plan (a one-time effort), it’s entirely reasonable for you to expect to leave yachting with around Eur 150,000 and €450,000.

You’d have to be putting in €1,000 and €3,000 per month to hit those figures. But €1,000 is possible for all superyacht crew and €3,000 is achievable for many.

So, if you intend to be alive in 10 years’ time, wouldn’t it be nice to have nearly half a million by then or even more? 

To achieve almost the same in 10 years that the 65-year-old from earlier took 40 years to achieve?

Be a half millionaire by 35 or 45 rather than 65? Or, if you really go for it, an actual millionaire.

All you need is to get a round tuit as soon as possible.

Guess what?

Click here and we’ll make sure you get one:

Or, if you’re not ready yet, why not try out our new calculator, so you can work out how much you could have at some point in the future: