The Standard & Poor’s 500 Index is a collection of 500 different stocks, all of which are chosen, based primarily on their industry category, size, and liquidity.
"In the long run, it’s not just how much money you make that will determine your future prosperity. It’s how much of that money you put to work by saving it and investing it."
Fidelity Magellan Fund
Alright, so that all makes sense but how can you bring together the idea of regular investing and building a portfolio based on the S&P 500?
Here's an example :
"...the services and accounts Yacht Plan provides are a good way of investing your money rather than it sitting in a bank account and earning nothing." Mark C - Bosun
We understand that one of the benefits of working within the yachting sector is the income and the ability to save. Unfortunately keeping those savings in a current account only benefits the bank. No doubt you have things you are looking forward to, be it to purchase your home, the dream wedding, helping out your kids or a comfortable retirement.
The question is, are these simply dreams or do you have a plan ?
Whether you're an experienced Captain or a Deckie just starting out, you understand that for all the benefits of working in this industry, pensions and social security aren't generally included. Recognising that you need to put away for your future is something you should address sooner rather than later. Think of it this way, in a traditional job you would have upwards of 25% taken from your pay packet to cover these items before you even saw the slip. Even with MLC improvements it makes sense to ensure that you put yourself first, get your savings working and make sure you are set.
OK...so you're comfortable in your position and you are spending less than you earn. You know that the bank is paying you peanuts (if anything) in interest but you're not really familiar with investing. Add to this the fact that you're probably aboard a boat off Antigua and it could be 6 months before you get the time to travel home.
"I spoke to quite a few advisors, as did my partner, before deciding to work with Yacht Plan. I can tell they do their homework...we're happy." Erik J - Captain
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