Investing Made Easy for Seafarers

Seafarers are highly paid. They have a yearly renewal of contract that last as short as 4 months to as long as one year. Most usual, high ranking officers get on board for 4 months, while low rank seafarers go on board for about 8 months every year. They have to go through training and certification each year to get promoted to the next level to increase their rank and pay.

They usually, have healthcare only when on-board. Some even have coverage for their extended families. Some don’t. They don’t get paid when they are not on-board or under training. In fact, they have to pay for their own Training and Certification. They don’t have 13th month pay. They also don’t have retirement pay. They usually invest on properties, cars, and huge houses. These are what makes them different from most profession. These are the reasons why, they need a different approach into investment and protection.

The advantage of a seafarer is their income. They just have to learn how to budget, and how to invest correctly with their spouse, and children. They have to invest the retirement pay they already receive in advance. They need to make sure they divide the total income they receive per year by 12 so they can budget it correctly. Unless they save and invest, they don’t have retirement funds to rely on for they already spent it.

You see, even if they start at age 30, with just 3,000Php/Month which they easily can save and invest, they could accumulate 10.3M Php by the time they turn 60. They can happily retire with financial freedom with more than 1M/Year Interest Earning from their investment.

I am calling all SEAFARERS, Join me in my FREE ON LINE WEBINARS so you can Learn How to Invest Correctly and achieve your Financial Goals. Register HERE NOW: http://8874hf.trulyrichmakers.com/investingcorrectly/ 

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Investing Strategy for "Retireables"

Retirement Planning ideally starts when you start with your career or business. However, in most cases, like we had, planning for retirement takes the back seat. It emerges back when we are actually about to retire, or forced to retire in our 50’s.

Government workers have better retirement pay. They enjoy above average pensions. Employees from private companies is mandated by law to receive 1 month per year of service as lump sum and about 10-15K per month of pension. More often than not, these are less than what retirees need for maintaining their lifestyle.

When people retire, their challenge is how to manage their retirement money. They do not invest their money but spend it in fixing their homes, replacing their old cars and travelling the world which they were not able to do before they retire. Their situation is much like a “Lotto Winner” with so much cash in their hands that they get so excited to spend it on things they have not enjoyed in life prior retirement. 

In their 50’s and on their 60’s, they find it difficult to land another job. So, they do not have other source of money other than what they receive in their retirement. I met retirees who incurred a lot of loans and credit card debts. They don’t know how to manage their debts. Debts and Loans payments, eats up a majority share of their “Lump Sum” retirement pay. They are left with very minimal amount that last them for a year to 5 years. That is the challenge for “Retireables”.

But again, there is hope. I know. I was forced to retire at age 52 by the company I worked for. The solution is a combination of right investment for passive income generation, proper debt management strategy, and a business to fund my retirement. In short, retirees should still be net earners in retirement. Their total income should still be higher than their expenses. They should have positive cash-flow. I am glad I joined IMG before I was retired by my company.

The Retirement Replacement Fund we need to accumulate to be able to retire with Financial Freedom is 20X Annual Income. So if we were earning about 30K/month, this is 360K/Year. Multiply this by 20, the Retirement Fund you need to have is 7.2M PHP. In all probability, you don’t get this from your retirement pay. You need to work for at least 240 Years to get to this. Even if the company gives a 4X of the government mandated retirement pay, you would have to work for 60 years to achieve this. 

So the solution rest on properly investing the retirement pay, managing the debts, and creating a business that can generate a passive income. By simply investing a total of 9,700/Month at age 51, you can accumulate 7.2M by the time you turn 70. This can generate for you at least 30K/month in passive income from Investment Returns (assuming a 12% Annual Return). This sum, plus the retirement Fund you invested, plus the monthly pension, can definitely provide you with a financially free retirement.

I can guide you through this. Get yourself REGISTERED on FREE ON LINE COACHING: 

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Check here to see the many benefits of becoming an IMG Member. 
https://6020h.30m2030.com

Let me know if you need assistance in getting into your Webinar Room.

EMAIL ACCOUNT: richbenj.santiago@gmail.com