It seems surreal, but I have just crossed the equator from the North Atlantic to the South Atlantic. I seem to be in one of those deserted parts of the ocean, so far from the shipping lanes that the last time the AIS spotted anyone else was a tanker four days ago at a range of 10.8miles.
And yet I am up to speed with the Budget, the Ukraine deals (both of them) and all the guff on Facebook – and it is after reading a friend’s reaction to the budget that I have been sitting out in the cockpit in the sun with the Kindle unopened on my knee, watching the water go past in a welter of foam and thinking about what one particular friend has posted.
She has taken issue with Rachael Reeves’ assertion that we need more people who ‘take risks’ and ‘back an idea with their savings’ to become ‘wealth creators’.
My friend says the idea that anyone can become an entrepreneur is a fairytale: You need access to money, the right connections – you need to know how to ‘play the system’ – and the lack of morals to do it.
I’m not so sure that’s true.
In 2005, I had no job and, at the age of 50, it was quite clear I was not going to get another one. Somebody offered me an opportunity that at first glance seemed to be one of those ‘dodgy schemes’. But the total investment was £199 and, since I had nothing else, I thought it worth the risk.
The deal was that I would have to do something I wouldn’t necessarily want to do (but then, as they say, if you work at something you enjoy, it’s not really work.)
I didn’t enjoy this – but I did work at it and eventually grew comfortable with it. At any rate, it was worth putting up with it for the money.
I have just looked up the total they have paid me over the ensuing 20 years. It averages out at £27,964 a year.
I will admit that there are many people who earn more than that – but, by the same token, there are many who earn less and would give anything for that kind of security. Because this was not a wage that would stop being paid if I stopped working. This was what they called a ‘residual income’. Indeed, I stopped working at it full-time in 2016, and now I hardly touch it – although I still get paid every month.
I admit I was lucky. I had no alternative: I had to give it my all from the word go (most people start part-time). I had to risk £199, which I could ill afford (now it’s only a tenner). In a lifetime of sometimes questionable decisions, it remains one thing I got absolutely right, and I am intensely proud of it.
I didn’t need ‘access to money’ or the ‘right connections’ or any of that. Just hard work.
That’s fair, isn’t it?
John I have followed your sailing stories on-off for some years. I attended some of your UW training sessions in Ipswich>
And your UW comments in the post of the 26th are right on the money. Written in your style they set the scene so well. Can I crib the article to show to my prospects in the Norfolk area. I will credit the comment to your Name. How long have you been out of the UK? And I assume the UW payments are still coming in every month.Thanks for great heads up!!
Hi Gerry,
Certainly, go ahead. I “retired” from UW in 2016 – although, of course, you never retire – there’s always going to be someone who complains about the cost of holidays or car repairs and you find yourself saying: “Do you know what, I could probably help you with that…”
It even happens in Caribbean anchorages or beach bars in the San Blas islands. The trouble is that the only way to be really successful is with 100% focus and full-on enthusiasm, and that’s hard to maintain if you don’t go to every event. Still, as you say, the money keeps coming in and I have a good team to keep the structure in place, so it’s there for the long-term. Best wishes, John
Some of the recent replies seem to be a of a critical nature. As they are on this channel , maybe I could send them some partner stories. Or would that be spam?
I have sent you an email
Hello John,
I’ve just finished reading your book”old man sailing ” and think it is brilliant. I had never heard of you, even though I watch sailing videos all the time and appreciate the ones that
are British and not loaded and up there own backside. They are plenty of them! Usually American, young and with a hot girlfriend.
The point that they seem to be trying to convey
is, look at me, look at my beautiful girlfriend,
wouldn’t you like to be me? Sucker.!
By the way you can send me some money if you like, just hit the subscribe button.
My favourite couple are Matt and Amy, Sailing Florence. You probably know them, if not check them out.
Anyway I digress. Your book. When I first started reading it, I thought this is a normal bloke without much writing skills or experience
decided to write a book because he has the time now with the draconian measures about to be introduced to keep us ” safe”.
How wrong I was! As the book progressed I understood that you weren’t only an accomplished journalist and experienced solo
sailor but also totally on my wavelength philosophically, spirituality and practically.
Also about the same age.
I have had the same lifetime dreams but have not fulfilled them as you clearly have.
I have had two boats a bit smaller than yours and only sailing coastal either as skipper or crew except for an Atlantic crossing 20 years ago.
I think you are very courageous or perhaps a bit mad! Fine line !
Anyway keep on doing what you are doing
and the best of luck to you.
PS could you send the link to get more
information about the magic potion that keeps you going. Paul Burton.
Someone has to ask this; why not me: what was the work, what was the investment for?
C’mon ol’man, spill…residual income??
Sounds v. mysterious…as a pensioner in Ireland I’m OK Paid into it long enough but OK…better than most pensioners in UK. Now who doesn’t want more money? Can anyone do it?
Reminds me, radio chat LBC, O’ Brien miffed at a billionaire 33bn, saying he’d move to Dubai if Reeves hicked taxes on the wealthy. Such concerns indicate he”s only interested in money, not culture, legacy or anything about community.
Now…only for a bit of that sunshine
Good luck John…fair winds
I’ve emailed you
Full respect for all your entrepreneurship and hard work, done no doubt with the intelligence which is trademark of you. All that to remain a pauper. The economic world values itself in millions and billions, increasingly trillions; and those are the wallets who drive the prices we others take. This became so apparent to me when as a parent if you g children I tried to negotiate the price of a new car, just after Google and some other local companies had gone IPO. The dealer laughed.
No doubt you are rich, sir, but I think that comes from you and the life choices you have made, despite a broken system which favors a a fortunate few.
Respect and fair winds,
EP
I’m not sure I understand the point you are making. Are you saying that a residual income of £28,000 makes someone a pauper? I suspect many people would be glad of that. Don’t forget that the UK state pension is less than £12,000.