Emma Parkes, who leads our Yacht Crew Investments scheme, recently guested on a SuperYacht Radio show. She joined other industry experts to debate how yahct crew can best prepare for a life away from yachts.
Emma and the panel highlighted the unique nature of this industry and how the rewards can be high and expenditures low, resulting in an opportunity to save for the future with minimal impact on current lifestyles. It was agreed by all that the goal for crew should be to prepare early for a return to life onshore. Following this plan will ensure they have more control over their destiny and can better manage the impact of a potential reduced net income.
Securing professional advice, starting to invest early and, for the UK crew, taking advantage of tax-free investment opportunities were all tips shared by Emma during the broadcast.
After the challenge of Covid and now the war in Ukraine, existing investors were encouraged to review their current arrangements to ensure core savings were not being exposed to excessively high levels of risk.
You can listen to an extract from the show featuring Emma here.
The contents of this article are for information purposes only and do not constitute advice or a personal recommendation. Investors are advised to seek professional advice before entering into any investment decisions. Please also note the value of investments and the income you get from them may fall as well as rise and there is no certainty that you will get back the amount of your original investment. You should also be aware that past performance may not be a reliable guide to future performance.