Merchant Navy – Life at Sea, wealth at home, really?


Quote from a merchant navy sailor: *
“If one has a bucket list, sailing on a merchant ship should be on it. It gives you the perspective of what is it like to witness the spectacular grandeur of 3/4th of our planet in a ship’s setting. The experience is very humbling.”

Sounds exciting… but other than missing the family life, there is a big-gap in terms of financial planning, investments& execution. More so with the fact that, half a year (or more) they are sailing, without having any access to the advisors, markets or simply, how to manage their finances?

Aashish, a 42-year-old merchant navy captain, currently navigating a LNG vessel, somewhere between Korean& Russian ports, says: “One day I sat down to calculate my last 12 years of earning, and wondered where all that money had gone…”.

Merchant navy or mariners, enjoy non-resident (NRI) status, if they are sailing for more than 6 months, hence their income becomes tax-free. The job involves high-risk, with high compensation; but with a peril of possible physical injuries, resulting in end-of-career & future earnings. Common FAQ.

Once they are back (on vacation), they would want to catch-up on investments & options available. Where most of the time, their financial planning or investments, are influenced by the family members or Bank RM’s, without involving plans or data-driven advice.

Therefore, Merchant Navy joiners need, a true hand-holding with advisors, who are not just selling financial products, but first creating plans based on their lifestyle & future. And the crucial area which needs coverage, involves advisory access (online & offline), wealth management and execution services, all under one umbrella.

*Quote Link:

Manoj Chahar
Founder & Storyteller at
Manoj is the founder of, with 15 years of corporate experience & expertise in financial markets. Manoj has corporate stints with Kotak Securities, IIFL group & Philips India. He holds an MBA (PGDM) degree from Symbiosis (SIMS) Pune.
His interests include birding & adventure activities.

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