Comments on: Deadliest Catch: what they should do with the money they earn from crabbing? http://www.findfinancialfreedom.com/39/deadliest-catch-what-they-should-do-with-the-money-they-earn-from-crabbing Your guide to getting yourself out of debt and out of the rat race Fri, 30 Jul 2010 10:38:30 +0000 http://wordpress.org/?v=2.5.1 By: Chris Miller http://www.findfinancialfreedom.com/39/deadliest-catch-what-they-should-do-with-the-money-they-earn-from-crabbing#comment-872 Chris Miller Wed, 23 Jul 2008 08:41:46 +0000 http://www.findfinancialfreedom.com/?p=39#comment-872 I too watched that series of programmes and found that they always run the risk of not earning any money at all from the weeks catch. If there is any problems with the boat and/or the fishing spots, they could even end up at a loss from the trip due to diesel costs I think that this would make it more important for these guys to use their money wisely and invest in something that gives them (and their families) the money that they need to survive. I would suggest that a £($)40,000 deposit on a property, could get you a good buy to let with at least a few hundred bucks a month to look after the family. Do 4 - 5 trips in one year and place deposits on properties and they could have a £1,000+ income from the properties. This would mean that they wouldn't have to worry about their "fishing trips" going badly as the family would still have food on the table. And if they needed to, they could re-mortgage the buy-to-lets to take extra (tax-free) cash for unexpected events. In conclusion . . . . I wouldn't do it. . . They are very brave . . . and good luck to them. I too watched that series of programmes and found that they always run the risk of not earning any money at all from the weeks catch. If there is any problems with the boat and/or the fishing spots, they could even end up at a loss from the trip due to diesel costs

I think that this would make it more important for these guys to use their money wisely and invest in something that gives them (and their families) the money that they need to survive.

I would suggest that a £($)40,000 deposit on a property, could get you a good buy to let with at least a few hundred bucks a month to look after the family.

Do 4 - 5 trips in one year and place deposits on properties and they could have a £1,000+ income from the properties.

This would mean that they wouldn’t have to worry about their “fishing trips” going badly as the family would still have food on the table. And if they needed to, they could re-mortgage the buy-to-lets to take extra (tax-free) cash for unexpected events.

In conclusion . . . . I wouldn’t do it. . . They are very brave . . . and good luck to them.

]]> By: John http://www.findfinancialfreedom.com/39/deadliest-catch-what-they-should-do-with-the-money-they-earn-from-crabbing#comment-707 John Wed, 09 Jul 2008 19:13:06 +0000 http://www.findfinancialfreedom.com/?p=39#comment-707 Sounds rather like the guys making similar money for a season trucking on the ice roads in Canada (see Ice Road Truckers currently being repeated on Five). Sounds rather like the guys making similar money for a season trucking on the ice roads in Canada (see Ice Road Truckers currently being repeated on Five).

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