By Christopher Cervantes, RFP

When people hear the word seaman, one word often comes next — mayaman.
“Uy, seaman ka pala! Libre ka naman!”
It’s a line every seafarer has heard, maybe a thousand times.

To many, life at sea looks like a dream — dollars in the bank, travel around the world, a proud family back home. But behind that image is a truth most people never see.

The Hidden Debts Before the First Voyage

Many seafarers start their journey not with wealth, but with debt.
Before even stepping on board, they borrow money just to:

Pay for training certificates and medical exams
Process endless documents and agency fees
Buy luggage, uniforms, and basic travel needs

By the time they get their first contract, much of their “future salary” is already spoken for. The first few months at sea often go straight to paying off what they owe.

So when people say “ang yaman mo na”, they don’t see the long nights of anxiety, the loans piling up, or the sacrifice of leaving your family for the first time just to start over.

The Expensive Cost of Staying Employable

Even after years at sea, the struggle doesn’t end.

Every promotion, every new vessel assignment requires costly upgrading courses — sometimes ₱30,000 to ₱100,000 or more.

And these aren’t one-time expenses. Every few years, seafarers need to renew licenses, update STCW certificates, and attend mandatory seminars just to stay employable.

It’s a profession that demands continuous learning — and continuous spending.

When the Ship Docks, the Salary Stops

When you finally come home after 9 or 10 months of hard work, all you want is to rest and spend time with family. But rest comes with a price.

For the next 3 to 6 months of vacation, there’s no salary, no benefits, no employer contribution to SSS or Pag-IBIG.

Yet, the bills continue — tuition, groceries, electric bill, mortgage, utang. And sometimes, to survive the “vacation,” a seafarer ends up borrowing again. The cycle continues.

No Security, Only Uncertainty

Unlike land-based workers, most seafarers are contractual employees. Each contract is a new beginning — and a new uncertainty.

There’s no guarantee of re-hire.
No separation pay.
No retirement plan.

All it takes is one failed medical exam, one crew reduction, or one shipping crisis — and the career that once lifted you could end overnight.

Before You Borrow, Think Twice

To those who have relatives or friends who are seafarers —
please, think twice before asking for utang.

They may earn in dollars, but they bleed in sacrifices.
They are not ATMs. They are human beings trying to make ends meet, too.

And if they say “pasensya na, hindi muna ako makakatulong ngayon,”
don’t take it as rejection — take it as a sign that maybe,
they’re also going through their own financial storms.

Behind every remittance is a story of sleepless nights, homesickness, and deep responsibility.
So instead of seeing them as “palaging may pera,” see them as “palaging nagsasakripisyo.”

My Personal Realization: “I Need an Exit Plan.”

When I was still a seafarer, I thought staying longer at sea would mean more savings, more stability, more success.
But after years on board, I realized something painful: I was earning well, but not growing wealth.

That’s when I made a decision — to build my “Planadong Buhay.”
I started learning about financial planning, investments, and passive income.
I saved aggressively while I still had contracts.
And I looked for a way to bring my dreams ashore, permanently.

It wasn’t easy, but it was worth it. Because financial freedom is not about how much you earn — it’s about how well you prepare.

From Survival to Significance

Today, I look back not with regret, but with gratitude.
Because being a seafarer taught me the value of discipline, courage, and delayed gratification.
But it also opened my eyes to a truth many still ignore — you can’t sail forever.

To every seafarer reading this:
You are not just a provider. You are a dreamer, a builder, a hero in disguise.
But heroes, too, must plan their retirement.

So before the sea calls again, start building your life on land.
Start your exit plan — not because you’re giving up, but because you’re growing up.

Because someday, the best voyage you’ll ever take… is the one that finally leads you home. 

Start Your Own “Planadong Buhay” Today

If you’re a seafarer or OFW who dreams of building income that continues even when your contract ends, message us.

Let’s design your financial roadmap — from sea to security, from career to calling.

📩 Book your FREE financial planning session now.
Because true success is not about how long you work abroad — it’s about how well you plan to come home.

E-mail me at chris.cervantes@cardinalbuoy.com. Visit my website at www.cardinalbuoy.com. Follow me on Twitter @cervantes_rfp. Chris Cervantes is also the author of the best-selling book: “Financial Planning for the Fast Changing World, ” “LIfe Begins,” “The Seed Money” and “Odssey of Wealth and Legacy”.