From Broke Deckhand to $450K in 6 Years
A transparent look at my income, investments, and what I did right (because honesty is the best policy)
Dear Friends,
I want to share the full, transparent breakdown of my six-year journey in yachting – both financially and personally. This isn’t a brag; it’s proof of what’s possible with a high savings rate, smart choices, and a love for the of perks yachtie life. If you’re a fellow crew member looking to level up your finances, I hope my story gives you a realistic roadmap. Let’s dive into the numbers, the challenges, and the lessons learned along the way.
Here’s a stat I’m proud of: my current net worth ($453,913) is nearly equal to ALL the money I’ve earned working on yachts in the past 6 years.
Year-by-Year Earnings: From $30K to Six Figures
One of the most common questions I get is “How much can you actually earn working on yachts?” Below is my year-by-year income since I entered yachting in 2019. I started as a deckhand (with a twist as a deck/nanny) and worked my way up to Chief Mate, which is reflected in my rising income over time:
2019: ~$30,000 (entry-level deck position)
2020: ~$30,000 (steady but impacted by a slower season/COVID)
2021: ~$66,000 (significant jump after gaining experience and a promotion)
2022: ~$84,000 (continued growth as responsibilities increased as First Mate)
2023: ~$100,000+ (first six-figure year, thanks to a senior role and busy charters)
2024: $100,000+ (estimated, similar to 2023 as I continue at a high earning rate)
2025: On track for $100K+ (the year isn’t over, but the trajectory is strong)
Over these six years, my annual earnings more than tripled, starting from $30K and breaking into six figures by 2023. The inflection came as I took on more duties, proved my reliability, and yes, stuck around on the same boat for 4 years (more on that later). The consistency and loyalty paid off in raises and bonuses, without needing to constantly jump between boats.
Why do these numbers matter? Because they set the foundation for everything else – especially savings and investments. Regardless of earning $30K or $100K, I maintained one critical strategy: living well below my means. Which brings us to the next (and most important) part of the story…
70%+ Savings Rate – My (Not-So-Secret) Weapon
Earning money is only half the battle; keeping it is the other half. Since 2020, I’ve maintained a savings rate above 70% of my post-tax income. Yes, you read that right – I saved at least 70 cents of every dollar I made after taxes. This high savings rate is uncommon in most jobs, but in yachting it’s surprisingly achievable. Here’s how I managed it:
Minimal Living Expenses: Working on a yacht means accommodation and meals are often covered by the job. I took full advantage of this. For four years, the boat was not just my workplace but also my home, which kept my personal expenses incredibly low.
Responsible Spending: I’m very intentional with money. I avoid lifestyle inflation – no shopping sprees for the latest gadget or designer clothes after a big tip. In fact, since 2019 I’ve never owned a car until 2 weeks ago! (I sold my car to buy a one-way ticket to start my yachting career). I don’t splurge on status symbols. My rule was simple: if it doesn’t improve my life or happiness meaningfully, I don’t buy it. I still have fun (as you’ll see soon), but I budget for fun. Daily expenses were kept to a minimum, and I tracked every expense like it was mission-critical.
Windfalls and Bonuses: In yachting, a great charter season or generous owner can mean big bonuses. I treated any extra like a squirrel hoarding nuts for winter – instead of burning it, I saved or invested those bonuses immediately. This bumped my savings rate even higher in good months.
Family Commitments: Part of responsible spending for me also meant taking care of family. I’ve supported my family back home when needed, and I factor that into my budget. Even while helping out relatives, I made sure to pay myself first (by saving), then allocate funds for family, and only then spend on personal wants. Taking care of loved ones was non-negotiable, so I simply increased my hustle rather than dipping into savings. I often find that the more I give, the more I get back!
By saving over 70% of my income, I ensured that every raise and extra dollar earned went straight into building wealth, not a more expensive lifestyle. The result? A growing stash of capital that I could put to work. Which leads us to the fun part – where all that saved money went:
May 2025 Net Worth: $453,913 (and Where It’s Invested)
As of May 2025, my net worth hit $453,913 USD. This figure represents the sum of six years of saving and investing nearly everything I earned. I want to break down exactly where that ~$454K is parked, to show how I’ve allocated my money across different assets: (once again, not bragging, just radical transparency to show my readers that I’m actually doing what I preach).
≈46% Stocks & ETFs: The largest chunk (almost half) of my net worth is in stock market investments – primarily low-cost index ETFs and a selection of blue-chip stocks. This comes out to roughly $210K in equities. I favour broad indexes (like S&P 500 ETFs) and some international funds, letting me grow my wealth as global markets rise. There’s some active stock picking in the mix, but mostly it’s steady, automated investing into index funds every month.
≈30% Real Estate Equity: About a third of my net worth (~$136K) is equity in real estate. Last year, I took the leap and invested in my 3rd property. As yacht crew, we’re often nomadic, but I saw an opportunity in real estate to diversify. This equity is spread between 3 different rental properties , but the key is I now have a foothold in real assets back on land. It’s producing some passive income and growing in value over time.
≈12% Crypto: I cautiously ventured into cryptocurrency, which now makes up about 12% of my net worth (~$54K). Crypto is high risk and high volatility, so I’ve kept my allocation relatively moderate. I stick to the major players (Bitcoin, Ethereum) and a few smaller projects I’ve researched deeply. 2021’s bull run definitely gave this portion a boost, but I’ve ridden out some wild swings since. Crypto isn’t for everyone, but for me it’s a long-term play with money I can afford to be patient with. More on this here.
≈8% Cash: I hold roughly 8% (~$36K) in cash or cash-equivalents. This is my safety net and opportunity fund. Cash might not earn much, but it’s stability. It covers emergencies, and it’s dry powder ready to deploy if a great investment opportunity comes up (like a stock market dip or a chance to buy into a partnership). Keeping some cash also helps me sleep at night knowing I can handle unexpected hits (medical, family emergencies, or even a sudden job change).
≈4% Alternatives & Other: The remaining 4% (~$18K) of my net worth is in alternative assets and miscellaneous investments. This includes things like precious metals, art, maybe a stake in a friend’s business, and other small experiments. I like to tinker with new asset classes, but I keep it a small portion of the pie – the goal is to diversify without gambling the farm.
Despite market ups and downs, this asset allocation helped my net worth grow steadily. By spreading my money across different assets, I’ve built a financial safety net that isn’t tied to any single thing. If stocks are down, maybe real estate or crypto is up, and vice versa. It’s all about managing risk while aiming for growth.
16,000+ Hours: Hard Work, Sacrifices, and a Few Adventures
It hasn’t been easy money or overnight success. Far from it. I’ve worked over 16,000 hours in the last six years – much of it hard physical work and long shifts at sea. To paint a picture of the lifestyle behind these numbers:
Scrubbing Decks & Night Watches: Yachting can be glamorous from the outside, but as crew we know it’s tough work. I have scrubbed more decks than I can count, often on hands and knees under a blistering sun. I’ve done endless night watches, keeping an eye on the radar at 3 AM while everyone else sleeps. These long hours and sometimes tedious tasks are part of the deal – and I embraced them. I took pride in doing even “small” jobs well, knowing it would lead to bigger responsibilities and trust from my captain and owner. Those 16,000+ hours include sweat, sore muscles, and moments of sheer exhaustion. But they also built my character and resilience. Lesson: in yachting (and life), hard work and showing up consistently is half the battle.
Living on a Shoestring (Sometimes Literally on a Beach): There were off-season periods where, to save money, I literally lived on a beach or in the cheapest hostel I could find. Rather than getting an expensive apartment during downtime, I chose the backpacker lifestyle. For example, one winter between yacht gigs, I camped out on a beach in the Caribbean with a tent for a few weeks – trading luxury for a million-star view at night. It sounds crazy, but those are some of my best memories. I met other travellers, shared stories around bonfires, and spent almost nothing. This kind of sacrifice isn’t for everyone, but it kept my costs near zero while waiting for the next job to start.
Taking Care of Family: A big “why” behind my financial drive has been family. Coming from South Africa, I’ve seen how far a dollar can stretch for my folks back home. I’ve sent money to help with my friends’ education and my parents’ needs. At times, this meant I was effectively saving well over 70% for myself plus sending another portion to family. That was tough, and it slowed my wealth growth a bit, but I have no regrets. It taught me to budget and earn more to cover both personal goals and family responsibilities. If you have family depending on you, you understand the pressure – and the motivation – to make every hour of work count.
Still Enjoying Life: Importantly, I didn’t live like a monk or a robot these six years. I’m a big believer that you have to enjoy the journey. I’ve had some amazing life experiences because of yachting. I went skydiving in the Caribbean on a day off – nothing like the adrenaline of jumping out of a plane and landing on a beach you were just sunbathing on. I’ve gone on safari in Africa during a long leave, reliving my childhood to see lions and elephants up close. I’ve attended concerts and music festivals in different countries (yes, even while sticking to a budget – I plan for these treats!). These experiences were funded by the interest on my investments or side hustles, or just carefully saved for. I never felt deprived; I felt focused. There’s a big difference. Fun is budgeted in, and those memories fuel my motivation to keep going.
Through all these experiences – the grind and the good times – I stayed focused on the end game: financial freedom. It meant often choosing the harder path (like saying “no” to pricey parties at the port, or staying in to study about investing instead of pub crawling). But I balanced those sacrifices with rewards that fit my budget and values.
Four Years on One Boat: The Power of Loyalty
In an industry where many crew hop from yacht to yacht chasing the next big pay-check or a new scenery, I decided to stay on the same boat for 4 years straight. This was the yacht where I got offered my first role as Chief Mate. Sticking with one program had some big advantages for me:
Steady Growth: By staying put, I gained the trust of my captain and the yacht owner. That trust translated into promotions and pay raises over time, without needing to move to a different boat. I started as a deckhand and eventually became first mate on that very same vessel. Because they knew me well and I knew the boat inside-out, I became invaluable to the operation. Each year, my responsibilities (and salary) grew.
Less Down Time: Job hunting and changing boats can lead to gaps between contracts. By remaining with one boat, I had very little down time or unemployment between seasons. Consistent work meant consistent pay – which obviously helped with consistent investing. I didn’t have those multi-month stretches of zero income that some crew experience while between jobs.
Professional Reputation: Loyalty actually built my reputation in the industry. Other captains and crew see that you stuck it out and assume you must be competent and easy to work with (otherwise you’d have been let go or would have left). That reputation is paying dividends now as I network for future opportunities and even in launching my financial coaching side-business – people trust that I’m in things for the long haul, not just a quick buck.
Family Feel: On a personal note, staying with one boat for years made the crew feel like family. We went through a lot together – back-to-back charters, ocean crossings, emergency drills at 2 AM – and that created strong bonds. It’s easier to endure the tough times when you have a tight-knit crew. That stability kept me sane, which indirectly helped me stick to my financial plan. When you’re constantly changing environments, it can be stressful and trigger “escape spending” (splurging because you’re unhappy). I was fortunate that my boat felt like a second home, so I didn’t fall into the trap of spending to cope with stress.
Now, I’m not saying loyalty is always the best or only path – many times, switching boats does come with a big pay jump. But I want to highlight that loyalty can also lead to steady growth. In my case, it did. I’m grateful I found a great program early on and made the most of it. There’s more than one way to succeed in yachting; this was mine.
Net Worth ≈ Lifetime Earnings: Keeping (and Growing) Every Dollar
Here’s a stat I’m proud of: my current net worth ($453,913) is nearly equal to ALL the money I’ve earned working on yachts in the past 6 years. In other words, I’ve managed to keep and invest almost every dollar that has come my way from yachting. That’s the real bottom line of this journey. Let’s do a quick estimate to put this in perspective:
Total earnings (2019–2025): If you add up all those yearly incomes we listed earlier, you get roughly around $450,000 (give or take). This is not an exact number, but it’s in the same ballpark as my current net worth. That means very little of my lifetime earnings slipped through the cracks. I didn’t lose money to debt, I didn’t blow it on depreciating assets, and I avoided bad investments that tank your savings.
Net worth today: $453,913, which is almost the same as that cumulative income. Nearly 100% of what I earned, I still have – only it’s grown and multiplied through investments. This is incredibly important: it shows the power of a high savings rate and wise investing. Most people, if they tally their last 6 years of income, will have a net worth far less than that total earned (the difference usually being all the money spent on living costs, fun, mistakes, etc.). In my case, I’ve tried to optimise my life so that the difference between what I earn and what I keep is as small as possible.
Now, of course I had expenses and I did spend on living and enjoying life. The math works out because my investments have been earning and compounding, effectively offsetting what I spent. For example, the money I put into stocks and ETFs in 2019–2020 has grown with the market; the rental property generates cash flow and equity gains; even my crypto portion saw increases that helped cover some smaller indulgences. Instead of my wealth going to zero every month after expenses, my money worked for me and filled the gaps.
The takeaway for you as a fellow yachtie: it’s not just about how much you earn, it’s about how much you keep. High income is great (and working toward higher pay was part of my strategy), but high savings and smart investing are what build wealth. Even on a modest starting salary of $30K, I saved aggressively and invested, which mattered more in the long run than just waiting for a bigger paycheck. Now that I do earn a healthy paycheck, it’s the habits established early on that allowed my net worth to skyrocket instead of my spending.
Level-Up Your Finances: Resources for the Yacht Crew Community
I didn’t achieve this in a vacuum. I read tons of books, followed markets, and even got a finance certification along the way (from Youtube University). It was a lot of trial and error. That’s why I’m passionate about paying it forward to the yacht crew community. I want you to learn in 6 months what took me 6 years. If my story sparks something in you, here are a few ways you can get started on your journey (and I’m here to help):
Free Yacht Crew Financial Playbook: I’ve distilled my strategies and lessons into a concise playbook that any yachtie can use. It’s basically a step-by-step guide on how to go from zero to your first $100K, and beyond. You can download it for free here – no strings attached. It’s the resource I wish I had when I was starting out, covering everything from budgeting on board to the basics of investing and even how to handle taxes as a roaming crew member.
Net Worth Tracker Template: One habit that kept me accountable was tracking my net worth every single month. I’ve created a simple net worth tracker (in Google Sheets) that I use personally. It lets you input your assets and liabilities, and it calculates your total net worth and even shows the change month-to-month. If you’re not tracking your net worth yet, start now – it’s incredibly motivating. You can grab the exact net worth tracker I use here and make a copy for yourself. It’s free to download. Watching your own number go up over time, even if slowly at first, will keep you in the game when it feels tough.
🤝 1:1 Financial Coaching for Crew: For those who want a personalized game plan, I do offer a coaching program tailored to yacht crew. This is a more intensive, hands-on mentorship where we’ll dive into your numbers, goals, and even career strategy to maximize your savings potential. If you’re interested in working with me directly, reply to this email or check out the program details on my website – I’m happy to chat and see if it’s a fit. (Slots are limited because, well, I’m still a full-time first mate too!)
Remember, these resources exist because I genuinely want to see more of us in the yachting industry achieve financial freedom. Yacht life can be unpredictable – contracts end, injuries happen, the industry can be fickle – so having your finances sorted is the best insurance policy for your future. Whether you use my resources or not, start something today that your future self (off the boat, maybe retired early) will thank you for.
Final Thoughts – We’re All in This Together
Six years ago I was an absolute novice – scrubbing decks and dreaming about a better future. Today, I’m still scrubbing decks sometimes, but I’m also inching closer to financial freedom with every passing month. My journey from $0 to $453K net worth was not magical or unique. It was just consistent effort, learning, and staying humble through the process. If I can do it, seriously, anyone can. I’m just a regular yachtie who decided to make a plan and stick to it.
Thank you for reading this far. I hope my transparent breakdown inspires you to take action on your own finances. I’d love to hear your story or any questions you have. Feel free to hit reply and share your experiences or ask me anything – I read every response. Let’s build a community of financially savvy yacht crew who help each other out.
Until next time, stay safe out there on the high seas and in the marina bars. Keep learning, keep saving, and keep enjoying the ride. Together, we’ll chart a course to wealth and freedom. Fair winds and following seas!
- Charl
First Mate & The Yachting Investor
Great Newsletter, a great example of what you you can do when you have a plan and stick to it.
POWER!!!