How to Go Broke in Yachting — and Why Financial Discipline Matters

With Antonio Palazuelos Archdale and Charl Minnaar

The Allure — and the Trap — of Yachting Money

Few industries offer young professionals the chance to earn big salaries, live without expenses, and rub shoulders with extreme wealth. But as Antonio Palazuelos Archdale points out, that same privilege can quickly turn into a financial trap.

“You work for the guy — you’re not the guy. Don’t forget that.”

After two decades in yachting, Antonio has seen it all: the big spenders, the hobby hoarders, and the dream chasers who sink fortunes into passion projects that never materialize. Speaking with investor and financial educator Charl Minnaar, he reflects on both his mistakes and the lessons crew should take to heart if they want long-term security.

The Luxe Chaser: Drowning in Status

The first stereotype Antonio names is the “Luxe Chaser” — the young deckhand or stewardess who, flush with a first paycheck, starts buying designer clothes, bottle service, and even luxury cars.

“He forgets he’s the staff, not the owner. That Rolex or Lamborghini isn’t wealth — it’s a liability.”

While yachting can make anyone feel like they’ve stepped into a luxury lifestyle, Antonio stresses that trying to keep up with owners or senior crew is a recipe for financial ruin. “If you encounter someone like that, don’t try to match them,” he says. “Let them burn their money. Don’t get involved.”

The Hoarder and the Hobbyist

If the Luxe Chaser spends on appearances, the Hoarder spends on gear. From golf clubs to surfboards to cycling kits, the hoarder buys endlessly — often more than they could ever use.

Antonio laughs at his own history here:

“I was the king of hoarding. Closets in Europe are still full of my junk. Every dollar into that pile was ten I’ll never see again.”

Closely related is the Hobbyist, who buys old boats, cars, or campers with dreams of restoring them during leave. The reality? These projects rot in storage, draining time, money, and energy.

Why Crew Spend Like This

Beyond the stereotypes lies psychology. Life onboard covers rent, food, and utilities, leaving crew with cash to burn. Combine that with long periods of intense work and bursts of shore leave, and the temptation to “let go” is powerful.

“Everyone needs something to keep them sane out here. For some, it’s alcohol. For others, it’s shopping. But if you’re spending a third of your salary on booze or hobbies, that’s imbalance by definition.”

Building Discipline and an Exit Plan

Antonio credits his financial turnaround to colleagues like Charl who pushed him toward yachting financial discipline. Today he divides his money between safe, moderate, and speculative portfolios — even allowing a small “Degen Fund” for high-risk bets.

But the larger lesson is exit planning. Yachting is not forever, and few crew last past the 20-year mark. The burden of responsibility grows heavier, and many burn out before reaching captaincy.

“Don’t underestimate how quickly that day comes. You wake up one morning and you’re done. If you don’t have savings, you’re stuck.”

His rule of thirds — one third for spending, one third for savings, one third for a safety fund — is a simple structure to protect against the inevitable transition out of yachting.

From Captain to Broker

Now based in Mexico, Antonio has left the bridge for brokerage. It’s a tough shift — from guaranteed salary to commission-based income, where marketing spend comes out of his own pocket. But he thrives on the challenge.

“If you think gold is going to come to you, you’re a fool. You have to buy the shovels, do the dinners, make the calls. No one’s going to hand it to you.”

His move also allows him to serve Spanish-speaking clients, a growing segment of the market. And while the sales world is high-pressure, Antonio brings two decades of practical yachting knowledge to the table — a rare advantage.

Final Word: Balance

For Antonio, the lesson is simple: yachting can give you an extraordinary life, but only if you approach it with discipline, humility, and balance.

“Money’s great. But at some point, money isn’t everything. Keep your exit plan ready, keep your balance, and don’t confuse someone else’s wealth for your own.”