Tough Times don’t last, Smart guys do
When I completed my training with Shipping Corporation of India (SCI), and
reported back with 2nd Mates license in 1986, our batch was asked to report
after 5 years or take a No Objection Certificate (NOC) and find work
elsewhere. I took the NOC and started a nine-month period of searching for
Jobs in Mumbai, living on a shoe string budget in the Seaman’s Club and
walking to 20 offices every day as I could not afford a Bus or a Taxi. For a
person with no “Pull” it was an arduous journey and I finally joined an Iranian
tanker, which was trading in the war zone, as a Third Officer.
After a month onboard, I got my first pay and shore leave in Dubai. I went
ashore to the mall and bought myself a red Lacoste T-shirt, a pair of Calvin
Klein jeans and a pair of Ray bans sunglasses. Thereafter I went to a swanky
hotel sat in the Bar and ordered myself a large Glenfiddich. I felt on top of the
world, Life was great and I looked back to shore leave again after a couple of
days. Unfortunately for me, the next day we sailed out to the war zone
between Iran and Iraq and the next time I saw shore was when I was signing
off after 6 months!
One month after sign off I bought a small apartment in partnership with my
Father and started my Journey in investing in India. Some investments were
great success while I lost money on many others, and in the process learned
about the various investment options which I hope to share through this blog.
Before we get into the best investment options, it is important to understand
your investment goals, which change during your Life time.
Some goals stay constant –
1.Financial security for self and family (parents, wife, children) – during
your work life and after retirement
2.Job security and the ability to chose your choice / place and time of
Some goals change during your lifetime –
1.Buying your first Home
2.Paying for education/ marriage of children
3.Discretionary and Lifestyle spending – Holidays , Cars
4.Pension Plans etc
Choosing the best investment options for wealth management and planning
is an area of concern for Seafarers due to the hazardous and contractual
nature of our Work.
More on this in the weeks to come.
Always feel free to ask question on this Blog or connect with me at
email@example.com or on +91 8754485933