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Navigating Financial Waters: DMET SAMVAAD's 42nd Session on Personal Finance for Seafarers

"We spend years learning to navigate the seas, but many of us never learn to navigate our finances. The ocean may be unpredictable, but our financial future doesn't have to be."

As marine engineers, we're trained to navigate the vast oceans and handle complex machinery, but what about navigating the equally challenging waters of personal finance?


The 42nd session of DMET SAMVAAD, our college's flagship program, addresses this crucial aspect of our professional lives that is often overlooked in our technical curriculum.

The Financial Reality of Life at Sea

The maritime industry offers unique financial opportunities and challenges that most people rarely face. Our income patterns are unlike any other profession; we earn substantial amounts during contracts, but face income gaps between ships. We work in international waters, deal with multiple currencies, and often struggle with tax implications across different jurisdictions.

More importantly, the physical demands of our profession mean we can't sail forever. Unlike corporate jobs, where people work well into their 60s, most seafarers start planning their transition to shore-based roles or complete retirement much earlier.


This compressed earning period makes financial planning not just important – it is critical.

Many of us have witnessed individuals who, despite earning well throughout their careers, found themselves financially unprepared for retirement.


Others have seen colleagues make hasty career transitions due to poor financial planning, settling for unsuitable shore positions out of necessity rather than choice.

About Our Speaker: Mr. Rajeeve Kaushik

Mr. Kaushik brings a unique perspective to this discussion. As the author of "Financial Planning for Seafarers," he understands the intricacies of our industry better than most financial advisors. What sets him apart is his commitment to helping seafarers on a pro bono basis, a testament to his genuine concern for our community's financial well-being.

His book has become a valuable resource for maritime professionals, offering practical advice tailored specifically to our industry's challenges.


The book lays the foundation for long-term goals and explores how seafarers typically spend, save, and sometimes lose track of their earnings—and offers practical advice on how to manage their finances more effectively. 

This session will address the questions that keep many of us awake during those quiet night watches: How much should we save from each contract? When should we start planning for retirement? What investment options work best for our lifestyle? How do we prepare financially for the transition to shore-based careers?

Why This Matters

As future marine engineers, we're about to embark on careers that will take us across the globe. While we've spent years mastering thermodynamics and marine systems, this session offers something equally valuable: the tools to build lasting financial security.

The maritime industry offers unique financial opportunities and challenges. Our income patterns are unlike any other profession. We earn substantial amounts during contracts, but face income gaps between ships. The physical demands of our profession mean we can't sail forever, making financial planning not just important but critical.

Whether you're concerned about managing your first salary, planning for your parents' retirement, or simply want to understand how to make your money work as hard as you do, this session promises practical solutions to real challenges and empowerment achieved by financial acumen.

Join Us

Date: July 5th, 2025 Time: 11:30 AM Speaker: Mr. Rajeeve Kaushik Topic: Financial Planning and Retirement Strategies for Seafarers

The 42nd DMET SAMVAAD session isn't just another lecture; it's an investment in our future selves. In a profession where we're trained to be prepared for every emergency at sea, how can we also equip ourselves to face financial challenges that lie ahead?


Join Zoom Meeting


Meeting ID: 844 7285 3764

Passcode: DMET



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