Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Hi, I am 29 and on a mission to succeed after this recession.
Old 09-09-2014, 03:13 PM   #1
Confused about dryer sheets
GreatlksSailor's Avatar
 
Join Date: Sep 2014
Location: TC
Posts: 2
Hi, I am 29 and on a mission to succeed after this recession.

Hello all. I am a 29 year old professional mariner. I work on ships for a living and enjoy my vacation time sailing around the Great Lakes and technical scuba diving.

Although I was lucky enough to take my fathers advice and open a Roth IRA when I got my first job when I was 15, I made some very poor decisions in my early twenties. Anyways, after the economy tanked in 2008 and I went from working 60+ hours a week down to 16, I decided I needed to do something with my life. I took on a substantial amount of student loans and began attending a maritime academy in the fall of 2010. I graduated in January this year and immediately went to work. I now have a great job and expect to make well over 6 figures my first year out of school. I am now on a track to make up for my lack of financial responsibility in my younger years. Some things I am currently doing include:10,000 emergency fund, maxed out 401k, maxed out HSA, maxed out Roth and paying off student debt at an extremely fast pace while I drive my beater Honda accord, and live in my Grandma's basement.

I look forward to reading and learning on this forum and getting my finances on target.
__________________

__________________
Professional mariner. If I'm not on a ship you can find me on a sailboat somewhere or tech diving a ship wreck or cave.
GreatlksSailor is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-09-2014, 03:33 PM   #2
Thinks s/he gets paid by the post
38Chevy454's Avatar
 
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 1,584
Welcome to the forum. You are on your way to meeting your goals. Just keep saving as much as you can, practice LBYM, and keep the end goal of financial independence and early retirement in mind.

So what exactly is a professional mariner? Working your way up to captain of the ship?
__________________

__________________
After Monday & Tuesday even the calendar says, W-T-F...

Semi-Retired 7/1/16: working part-time (60%) for now [4/24/16 changed to 80%]
Retired Aug 2, 2017; age 53
38Chevy454 is offline   Reply With Quote
Old 09-09-2014, 03:36 PM   #3
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,455
Welcome aboard, GreatlksSailor. Nice way to start again after some poor choices. Keeping your expenses low while you pay your debt down is smart.
__________________
MichaelB is offline   Reply With Quote
Old 09-09-2014, 05:48 PM   #4
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,539
Welcome.

Everyone has made financial decisions that in hindsight were as my Grandma used to say "not so bright". It sounds like you realized the error of your ways and are well on your way.
__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 09-10-2014, 03:28 AM   #5
Confused about dryer sheets
GreatlksSailor's Avatar
 
Join Date: Sep 2014
Location: TC
Posts: 2
Quote:
Originally Posted by 38Chevy454 View Post
Welcome to the forum. You are on your way to meeting your goals. Just keep saving as much as you can, practice LBYM, and keep the end goal of financial independence and early retirement in mind.

So what exactly is a professional mariner? Working your way up to captain of the ship?
Yes I work as a Mate. I navigate, pilot, load & unload the vessel, and deal with mountains of paperwork. I will work towards obtaining my Master unlimited tonnage license but I'm not sure if I will sail Captain, that's a good 10+ years away.
__________________
Professional mariner. If I'm not on a ship you can find me on a sailboat somewhere or tech diving a ship wreck or cave.
GreatlksSailor is offline   Reply With Quote
Old 09-10-2014, 08:51 AM   #6
Recycles dryer sheets
 
Join Date: Dec 2011
Location: Chicago area
Posts: 427
Quote:
Originally Posted by GreatlksSailor View Post

Yes I work as a Mate. I navigate, pilot, load & unload the vessel, and deal with mountains of paperwork. I will work towards obtaining my Master unlimited tonnage license but I'm not sure if I will sail Captain, that's a good 10+ years away.
Welcome!

I sail a sailboat on Lake Michigan. I was under the impression GL maritime careers were severely on the decline. Looks like maybe I was wrong!

Is a Merchant Marine Academy the only way to get a good paying job on one of the ships?
__________________
AnIntentionalRoad is offline   Reply With Quote
Old 09-10-2014, 09:58 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Apr 2013
Posts: 5,580
Welcome to the forum. You found an interesting, to me, career. Don't worry about the mistakes of the past. At your age my net worth was negative. You can make it up.
__________________
MRG is offline   Reply With Quote
Old 09-10-2014, 05:23 PM   #8
Recycles dryer sheets
Bryan Barnfellow's Avatar
 
Join Date: Feb 2004
Location: Switzerland
Posts: 338
Welcome. Be sure to take grandma out for a nice dinner regularly to thank her!
__________________
FIREd, April 1, 2015. My Retirement Benefits Package includes: 6 months vacation, twice a year.
Bryan Barnfellow is offline   Reply With Quote
Old 09-10-2014, 10:46 PM   #9
Thinks s/he gets paid by the post
MooreBonds's Avatar
 
Join Date: Aug 2004
Location: St. Louis
Posts: 2,091
Quote:
Originally Posted by GreatlksSailor View Post
Some things I am currently doing include:10,000 emergency fund, maxed out 401k, maxed out HSA, maxed out Roth and paying off student debt at an extremely fast pace while I drive my beater Honda accord, and live in my Grandma's basement.
Sounds like you're well on your way!

I'm currently 37, and lived at my parents' house until I was 33. It helped that they spent about 2/3 of the time out of town - but it also helped self-select out women that didn't understand my logic and self-sacrifice way of living. Congrats on sticking to your guns and opting for a simple lifestyle to turbocharge your portfolio growth.

The important thing is to learn from your mistakes (investing as well as relationship and other life lessons). Also, stick to index investing with a diversified portfolio, and understand various aspects of expenses -whether it's your investment portfolio expense ratios, or car insurance costs, or buying milk and how you can buy smarter. It's so easy to think "it's just $40", but when you start doing that to most/nearly all of your life, it's amazing at how quickly it adds up! It sounds like you already have a good sense of it with your car and living arrangement - but sometimes the lowest price isn't always the automatic answer.

You'll learn lots from the forum. Just read different threads, especially ones from the past. LOTS of collective wisdom from a great number of even greater minds have written their thoughts and experiences. If you learn 1/2 of what I have, you will do well.
__________________

__________________
Dryer sheets Schmyer sheets
MooreBonds is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Voyager Mission mickeyd Other topics 7 10-24-2013 11:10 PM
Who Doesn't Love a Good Classified Mission? mickeyd Other topics 9 06-20-2012 11:22 AM
The IRS Mission TromboneAl FIRE and Money 16 01-11-2009 11:54 PM
To Succeed You Need A Kayak yakers Other topics 0 03-08-2006 08:36 PM
Succeed with Mathematical Certainty Honkie Young Dreamers 7 12-08-2005 07:14 PM

 

 
All times are GMT -6. The time now is 02:28 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.