Save for your retirement

Few superyachts provide a personal or private pension plan for crew. This is why we recommend protecting your future by investing regularly to provide yourself with a revenue stream when you move back on-shore.

Best practices for retirement saving

• The best time to start saving is now
• There will always be a reason not to save
• Saving something is better than saving nothing
• Investing pay rises is an easy way to grow your savings
• Investing end-of-season bonuses is a great way to boost your pension
• A larger retirement fund gives you more choice in the future

Retirement planning may not feel like the most exciting subject, but a retirement account will allow you to stop work or simply slow down, and still have an income! It’s impossible to know exactly what the future holds but it’s likely you’ll want the financial flexibility to maintain your lifestyle.

How much you might need

Many yacht crew significantly underestimate how long they will live and how much they will need for their chosen lifestyle throughout retirement.

For example, if you wanted to fund an annual expenditure of €40,000 you would need a lump sum of €1 million. Our graph shows how much you could need to save monthly, depending on the age you start saving, to achieve savings of €1 million.

The numbers may change based on your goals and the returns you achieve. But, it is important to note that the sooner you start to save, the smaller your monthly payments will need to be to reach the same goal.