This month we start a brand new column interviewing well known members of the community about all aspects of their finances. This week we get some sound advice from Robert Hamaty, founder and Managing Director of Tortuga Rum Company.

How much was your first pay cheque and what did you buy with it? 
When I worked at flying school I was parking cars at Daytona speed way for $1.25 per hour. My first flying job was as a co-pilot with Jamaica air service, a 19-seat heron aircraft for which I received 62 pounds and 10 shillings per month. 

Are you a spender or a saver? 
A spender 

When did you buy your first home and what was it like? 
In 1970 I bought a 3-bedroom town house in Kingston Jamaica for Ja$30,000. At that time the Jamaican dollar was just like Cayman’s dollar, i.e. 20 per cent more than the US dollar.

What has been your most extravagant purchase to date? 
My car and my boat. 

What is your biggest expense on a day-to-day basis? 
Personal mortgage on real estate, and the same for my business. 

When and how did you start planning for your retirement? 
As a self employed person I took early retirement at age 50. I cashed in my pension and now I self insure myself and my wife Carlene with low risk investments. I used my savings to help build Tortuga Rum Co as my wife and I own 100 per cent of the company. As for retiring, I’ve been working since I was 16 years old and still working.What advice would you give young people when it comes to their financial planning?   

You need not be an accountant; it’s very simple whether you are talking about personal or business: your expenses cannot exceed your revenue and the only time success comes before work is in the dictionary and that’s because it’s alphabetical.