Long John Silver cuts a strong figure throughout literature and our imaginations. The ruthless seaman turned cook turned rebel leader from Robert Louis Stevenson’s masterful novel, Treasure Island, the character’s wooden leg, talking parrot, and larger-than-life persona is the quintessential image of a pirate for many of us. While there is no doubt he was a pirate and mutineer, is it possible that there are personal finance lessons we can learn from his example?
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With a history of deceit, murder, and betrayal, Long John Silver is certainly not one to emulate. Surprisingly, however, there were a number of savvy personal finance behaviors that he embodied which we can all learn from.
Advanced Financial Planning
For many pirates, money “earned” (i.e. plundered) quickly became money spent. There was very little advance planning or setting aside resources for the future. Look no further than poor Ben Gunn–the marooned mariner–who blew through the entirety of his bonanza in a matter of days upon returning to England.
Long John Silver took a different approach. This is evident from the conversation young Jim Hawkins overhears one evening, as Long John Silver explains his financial philosophy. Criticizing those pirates who spend all their money on “rum and a good fling,” Long John Silver charts a different course, one of savings, investment, and even diversification.
“I puts it all away, some here, some there, and none too much anywheres,” he shares with his compatriots.
Long John Silver understood the importance of cutting down on consumption and placing his money in numerous different savings and investments while back on land.
Create a Retirement Plan
The importance of putting aside money during your working years for the future is a pillar of good financial hygiene. Whether it is a work-sponsored 401(k) or an Individual Retirement Account, there are plenty of savings and investment vehicles that allow us to put portions of our regular paychecks towards our later years.
Pirates, one can assume, did not draw regular salaries from reputable employers. Their “paydays” were unpredictable to say the least, making saving for the future all the more vital. Long John Silver implicitly understood this dynamic, and therefore advised the younger pirates to be smart with their finances.
Silver shares the story of “Old Pew,” who blew through his money with abandon like “a lord in Parliament,” only to spend his golden years starving, begging, and resorting to stealing once more. Long John Silver has other plans, putting his money in “banks and places.”
Embark on a Side Hustle
The idea of having a side hustle has gained steam over the past few years. From content creation to making deliveries, there are plenty of opportunities to augment your income. Ideally, you can follow your passions on the way to earning some additional cash.
In addition to piracy, Long John Silver managed the Spy-Glass tavern on the coast of England. While he was seemingly happiest when out on the open seas, Long John Silver clearly enjoyed his time on land owning and operating his bar.
Not only did it make money, but it gave Long John Silver the opportunity to learn valuable information about the comings and goings of those shipping out or returning via Bristol. This was especially instrumental in helping Long John Silver learn about the presence the voyage to Treasure Island.
Conclusion: Thinking About the Future
At the end of the day, personal finance comes down to making sure that your various financial decisions align with your long-term goals. Even small decisions–such as buying a cup of coffee–can add up over time to thousands of dollars as the years accumulate.
The importance of taking a long-term view of finances, including planning for your retirement years, is simply a must. It is also good practice to cut down on unecessary consumption and increase your monthly income if you can, perhaps via a side hustle.
Nobody should seek to emulate Long John Silver. He lied, he cheated, he murdered. He sold out his friends and lived a life of dishonesty. Hidden amongst this total lack of integrity lie a few smart of financial behaviors that can benefit us all. Feel free to borrow from these specific examples, while leaving aside all the other traits of this pirate.
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