Retirement planning is about making sensible financial commitments for the future and giving these investments time to grow in value. Despite this, many people leave it too late and find themselves with either not enough income to retire when they want to, or having to "panic save" in their later years.
Wherever you live and work, saving for a comfortable and prosperous retirement must be one of your key financial planning objectives. Regular disciplined investments into tax-efficient retirement structures will help you achieve your long-term goals, particularly when you move from country to country throughout your international career.
It is important to keep an eye on existing and past (or “frozen”) pension benefits, projecting these forward to give you a realistic outlook on what you can expect when you retire. Other items such as mortgage loans should also be factored into the equation to ensure there is a minimal financial burden on your income when you decide it is time to stop working and need to survive on less money.
Expatriates therefore need to address six key areas when planning for retirement;
- Portability
- Flexibility
- Accessibility
- Investment return
- Tax efficiency
- Security
Our examples and calculators will give you a general overview of what is possible. Are you doing enough about your future?
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