Thinking of joining Moore Stephens International FlexiPlan?

Read some typical scenarios

MIKE THE DECKHAND – recent entrant:

Mike is new to the industry but already has a job on a 40 metre yacht. 19 years old and ambitious, he knows that to progress he will need more qualifications if he is to be a Master one day.

He is earning €2,500 per month and plans to take his first course in 18 months at the latest. He has calculated the cost of tuition, travel, food and lodging and he needs a way of saving to provide for that while allowing him access to his funds.

He decides to start saving €1,000 a month knowing that the International FlexiPlan can also help him with the funding and allow him to stop contributing while at school without charge or penalty. He knows he can restart his contributions once he’s back at work, possibly at a higher salary due to his new qualifications.

SOPHIE THE CHIEF STEWARDESS – newly promoted:

Sophie is 28 years old and has been in the industry for 10 years. She is doing well and was recently promoted to Senior Stewardess on a 45 metre yacht. She will now be earning $6,000 per month.

Her 10 year plan is to take advantage of her experience and buy a small boutique hotel somewhere in France. She calculates that she should save $3,500 a month to be confident of having a nest egg in addition to the $50,000 she’s already saved since coming into yachting.

The problem is her $50,000 is in a current account with low rate of interest and she has no control over investment strategy.

So she decides to move $25,000 into an International FlexiPlan and then save $4,000 month with her ultimate goal of $500,000 taking advantage of 24/7 access online that lets her easily see how she’s doing.

She also feels comfortable because, although she has no plans to go ashore, she knows that if she does for any reason she can stop contributing at no charge and no penalty and resume contributions later.

JIM THE MASTER – experienced seafarer:

Jim is 38 years old and has been at sea for 18 years, mostly in superyachts. He intends to retire when he’s 50. Currently he is Captain of a 70 metre motor yacht earning €10,000 each month.

By saving regularly, he has managed to accumulate €240,000 in cash which he keeps in various bank accounts around the world. He’s unhappy though that he is unable to influence the strategy of his investment in any real way without paying high charges; he’d also like to pay in different currencies.

Bottom line, he wants a low cost, sophisticated retirement savings platform that allows him to influence his portfolio and is available in multiple currencies with 24/7 online access.

So over six months he moves his €240,000 into the International FlexiPlan, divided into Dollars and Euros, and begins investing a further €6,000 a month. Comfortable that he now has the online access to switch investment risk levels and currencies as he chooses.

To find out more please contact us