The Crew Portfolio (+Podcast Announcement!)
An industry veteran, Bitcoin advocate and all-round legend!
Dear readers,
For this month’s Crew Portfolio segment, I had the honour of sitting down with a dear friend and Captain who prefers to remain anonymous.
He has a bit of a different approach to crew I’ve interviewed before and really enjoyed this interview. Hope you can learn a thing or two from him!
Before we dive in: check out our full website & service catalogue
PODCAST COMING SOON!
Exciting things happening. I am partnering up with Yachting International Radio to start a Podcast for all things money. More to follow but in the meantime check out the pitch deck for potential sponsorship opportunities:
Questions
1.) When did you get into yachting and how did you get started on your investment journey?
I started in the yachting industry back in 2005, working my way up from the bottom to become a captain in 2019. My interest in personal finance was sparked by advice from my parents and seasoned crew members who suggested not to squander earnings on fleeting pleasures. My initial venture into real estate didn't go as planned, but it taught me valuable lessons about saving and investment.
2.) Elaborate on your first steps in money management?
The necessity of servicing debt from my property investment forced me to prioritise saving over spending. It was a hard lesson in discipline, learning to resist the allure of new gadgets or luxury items until I could truly afford them. I celebrated milestones like becoming a chief officer with thoughtful purchases, but I wish I had chosen a Rolex over an Omega!
3.) What has been your main investment strategies?
I've never been drawn to the stock market, but I've found my stride with Bitcoin. Real estate was more about following advice to get on the property ladder early, rather than a genuine interest. However, Bitcoin has proven to be my most successful investment, far surpassing my real estate ventures.
4.) What has been your main challenges in investing?
As a yacht crew member, traditional financing was tricky, leading me to borrow as an offshore investor with higher interest rates. Not having a fixed address and dealing with other jurisdictions than where you might be domiciled also adds some complexity.
5.) How do you find balancing investing with your work onboard?
The irregular hours and travel don't affect my investment strategy much. I manage everything through emails or scheduled calls. My advice for others is to stay focused on why you're in the industry and what your financial goals are. Invest in your career through certifications and courses to increase your value in the yachting world and do it as quickly as possible. Too many crew sit on their hands and don’t progress as fast as they should, give the vessels reason to promote and pay you more. Always be after the role above you.
6.) What were some lessons that helped shape your financial habits?
Having debt has kept me disciplined. With high interest rates on my initial property, I learned not to sit on cash but to make it work for me.
7.) What has been your best investment thus far?
Without a doubt, Bitcoin. Its fixed supply, ease of use, and potential as a store of value have made it my top choice. I advocate for at least a 5% allocation to Bitcoin.
8.) Most insightful learning experiences?
Bitcoin has been an educational journey into economics, teaching me the value of hard money versus fiat. It's shaped my approach to living off credit and not hoarding cash.
Interested in Crypto? Check out this article I did a few months ago!
9.) Clearly you’re a big proponent of Bitcoin. Can you share some important info with the readers regarding BTC?
For Bitcoin, it's about buying and holding. Set up recurring buys to dollar-cost average your way into wealth preservation. Remember, "not your keys, not your cheese" (this phrase means if you don't control the private keys to your Bitcoin, you don't truly own it; custody with third parties can be risky).
10.) What are some resources people can look into if they want to learn more about Bitcoin?
Read "The Bitcoin Standard," by Saidefean Ammous. Watch interviews of Michael Saylor or Jack Mallers, explore 'Crypto Twitter' or YouTube channels like Simply Bitcoin, and watch the movie "Hard Money."
There's no excuse not to educate oneself on this subject. I ask that you give it 10 hours of proper study, before passing it off as a fad or Ponzi scheme.
11.) Please share some advice for yachties getting started on their investing journey?
Start buying Bitcoin. You don't need to buy a whole one; you can buy fractions. Set up recurring buys and stack sats (satoshis, the smallest unit of Bitcoin) over time. Do not get into this as a get rich quick scheme, this is a buy and hold for at least 4 years.
12.) What are your future financial goals?
My focus is solely on accumulating more Bitcoin, the best way I've found to preserve the wealth earned from trading my time and energy for money. I’m never selling it.
Buoy’s , Balance & Banter
Your weekly dose of ideas to keep you steady, inspired, and smiling—whether you're charting your financial future or just riding the waves.
Good Read of the Week
📖 Book: The 5 Types of Wealth by Sahil Bloom
The five types of wealth are financial, social, physical, time, and mental. True wealth isn’t just about money—it’s about balancing these areas to live a secure, healthy, fulfilling, and meaningful life.
Words to Live By
💡 Quote: “Wealth is what you have when money isn’t your only measure of success” Sahil Bloom
Just for Laughs
😂 Video: Aussie bloke gets traffic fine for cooking steak whilst driving
These goddamn bogan’s at it again.
That’s a wrap for this week folks. Thanks for reading & as always reach out if you have any questions or concerns. Happy to help where I can.
Cheers,
Charl