The Psychology of Money—Through the Eyes of Yacht Crew
Why your money mindset matters more than your pay-check.
Dear investors,
The Yacht Crew Money Paradox
We work in an industry where we’re surrounded by extreme wealth—billionaires, celebrities, and high-flying entrepreneurs. We dock in Monaco, St. Barths, and the Amalfi Coast, where a casual dinner can cost more than a month’s salary back home. It’s easy to fall into the illusion that money flows endlessly, that we can always earn more, and that spending big today won’t impact tomorrow.
But here’s the kicker: exposure to wealth doesn’t automatically make you wealthy. In fact, it can do the opposite. If we don’t manage our mindset, the very environment we work in can lead us to financial stagnation, where our high earnings vanish as quickly as they come in.
That’s where The Psychology of Money by Morgan Housel comes in. (AN ABSOLUTE MUST READ!)
His book isn’t about technical investing strategies—it’s about understanding how we think about money and how those thoughts shape our financial outcomes. And as yacht crew, we have a unique challenge: navigating a world of abundance while making sure we don’t fall into the scarcity trap.
BEFORE WE DIVE IN: Check out my Linktree:
Scarcity vs. Abundance Mindset—Which One Are You?
Housel makes it clear: being good with money isn’t about intelligence—it’s about behaviour. And behaviour is driven by mindset. There are two dominant ways of thinking about money:
Scarcity Mindset: You live pay-check to pay-check, afraid to invest, worried you’ll miss out if you don’t spend now. You believe there’s never enough, so you prioritise spending over saving and investing.
Abundance Mindset: You see money as a tool for freedom. You know there’s always more to be made, but you also know that time is the biggest wealth multiplier. You prioritise investing and financial security over short-term pleasure.
Many yacht crew get caught in the scarcity trap without even realising it. The industry’s high salaries, combined with the constant exposure to luxury, create a false sense of security. You think, I’ll always be able to earn more, so you don’t take investing seriously. But here’s the harsh truth: high income doesn’t equal wealth. Wealth is built by keeping and growing what you earn.
Opportunity Cost—The Silent Wealth Killer
Every dollar you spend today is a dollar that could have been working for you. The problem? We don’t see the cost of not investing because it’s invisible. But let’s make it real with a simple example:
Imagine two yacht crew, both earning $5,000 a month.
Danny spends freely, saving little and never investing.
Sammy invests $1,000 a month in a simple index fund averaging 8% annual returns.
After 10 years:
Danny has nothing but memories and some Instagram posts.
Sammy has $180,000—without doing anything but being consistent.
After 20 years, that investment snowballs to $600,000+. That’s the power of compounding.
The real kicker? If Danny starts investing at 35 instead of 25, they’ll have to invest double the amount just to catch up. This is why waiting to invest is the most expensive decision you’ll ever make.
Yacht Crew Have a Unique Advantage—Don’t Waste It
Unlike most people, we generally don’t have rent, car payments, or major fixed expenses. That’s a golden opportunity to build wealth fast. But many crew fall into the trap of lifestyle creep—earning more, spending more, and staying in the same financial place year after year.
Instead, use your advantages:
Automate investing. Set up an automatic monthly investment into index funds, high yield savings accounts, REITs, or Bitcoin before you even see your pay-check.
Set guardrails for spending. Enjoy your time onboard, but create limits—like allocating only 20% of your pay-check for fun money.
Think in terms of future freedom. Every dollar invested today is a step closer to not having to work for money anymore.
The Takeaway—Control Your Mindset, Control Your Future
You’re not missing out by investing—you’re buying freedom.
If your money isn’t working for you, you’ll be working for money forever.
Start small. Start today. Your future self will thank you.
What’s Your Biggest Money Mindset Struggle?
Hit reply and let me know—I’d love to hear your thoughts. And if you want an easy way to track your progress, grab my free net worth tracker here:
Let’s build wealth—not just memories.
⚡ Health Hack for Yacht Crew: NectarGold
Yacht life is amazing... but it can be brutal on your body. Sleep schedules all over the place, long hours on your feet, and constantly trying to stay sharp while running on caffeine and minimal rest.
A few weeks ago, I started using Nectar Health—a supplement designed to support energy, brain clarity, and recovery. Honestly, I wasn’t expecting much, but I’ve been feeling a real difference: better focus during the day, deeper sleep at night, and fewer energy crashes.
I’m not saying it’s a magic pill, but for anyone looking to dial in their health while balancing the chaos of yacht life (or just life in general), this might be worth checking out. (P.S - it has pineapple in it and does wonders for your testosterone levels 👀)
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 Psychology of Money by Morgan Housel (surprise, surprise!) Housel stresses that money decisions are deeply personal, shaped by upbringing and environment, making financial strategies subjective rather than one-size-fits-all. Ultimately, The Psychology of Money teaches that financial success isn’t about spreadsheets—it’s about mastering your emotions, adopting patience, and consistently making good choices over time.
Words to Live By
💡 Quote: “Never let the quest for more distract you from the beauty of enough.” Sahil Bloom
I’ve had this quote in here before but fuck me it slaps so read it again!
Just for Laughs
😂 Video: Kiwi lad smashes Blackjack on All-In Podcast
RICH AF Podcast is launching this week!
