A seminar was recently held at the Myanmar Seafarers Federation office in Kyauktada Township to educate seafarers on investing in suitable houses and land plots through loans. The event aimed to address the issue of many elderly seafarers not owning homes by the end of 2022. Captain U Soe Min Aung, the general secretary of MSF, highlighted the importance of preparing for retirement by investing in real estate, especially for seafarers who will retire in the next decade or two.
The seminar, which was held for the second time, emphasized the need for housing among seafarers. The MSF has taken steps to support elderly seafarers through financial and medical assistance, with 800 individuals currently benefiting from these initiatives. By encouraging seafarers to own their homes, the federation hopes to provide a stable source of income for retirees by renting out additional properties when not in use.
The committee formed by MSF has recognized the significance of real estate investments in securing a comfortable retirement for seafarers. By taking proactive steps to own property, seafarers can ensure financial stability in their later years. The seminar served as a platform to educate seafarers on the benefits of real estate investments and the potential for generating income through property ownership.
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