As an expatriate, you are in a privileged position to save and invest. Make the most of the options available to you while you can, consider investing abroad for your retirement.

While residing abroad, you are legally entitled to use any tax savings in the country in which you reside, the more likely it is that you will be able to save and invest abroad to finance and nurture your retirement.

Not enough expats make use of their offshore advantage when living and working abroad. Do not make the same mistake!

Do you already have an established national pension plan in your home country that you established before working abroad? Have you found that this policy is not as mobile as you are? Does it make sense to continue with the savings policy?

Have you been considering switching from a retirement savings plan to a savings plan as you move from country to country? Did you know that by doing this, the income you earn in your future life will be fragmented and may be reduced due to currency exchange costs, fees, or even a cash-strapped government?

Or are you one of the lucky few who doesn’t need to read any further, one of the lucky few who works for an international company that offers an expatriate employee pension plan as part of its benefits package?

If you are not one of the lucky few and understand that the responsibility of providing for your own retirement falls on you, this article may help.

If you are looking for the most sensible offshore investment solution for your retirement savings planning, you should consider finding a safe harbor where you can anchor your retirement investments so that you can move from one country to another as needed without having to. a negative impact on your assets.

If you decide to do this, you need to find out exactly which safe harbor or tax haven is best for you.

Offshore financial centers present a viable solution, especially if you’re undecided about your eventual retirement destination. Basing your pension investment abroad should mean that future movements of capital or income are not hindered.

However, you should remember that any retirement income you take may be subject to tax depending on where you live at the time.

When it comes to retirement planning abroad, what should you consider?:-

Your own personal circumstances are unique.

Be realistic about how much you should contribute.

Consider the fees, bonuses, and flexibility of any investment plan; generally, the more flexible the plan, the more charges there will be.

Know that a good offshore retirement plan should allow you to do the following without penalty:

1 Reduce contributions without penalty (usually after an initial period of one to two years).

2 Switch investments between different funds to respond to changes in the market. Including funds managed by other people outside the area of ​​the institution.

3 Have the option to withdraw whenever you want without penalty.

4 Allow some access to invested money (again, after an initial period).

How to find the RIGHT offshore savings solution

Finding out what the best products from each vendor are currently, and then handpicking the best ones to suit your own personal needs and current circumstances is the best idea.

But how impractical!

Do you have time to do this?

Would you consider yourself an expert in offshore investment and pension planning?

Where would you start?

Obviously, professional advice will give you the right solution and save you time and money and significantly reduce the cost of delay!

delivery of pension

Collecting a pension on land is rarely the best option available to you.

If you have taken out an offshore pension policy and are not satisfied with it or want to take a break to pay for it, consider all the options available to you before deciding on your course of action.

Typically, with an offshore pension, up to the first 2 years of contributions are committed to invest until maturity, which means that if you cash in on your policy early, you will potentially lose hundreds or thousands of dollars of your potential earnings.

This is money you would literally be THROWING AWAY!

Instead of cash, could you take a vacation on payments or change your investment approach?

In lieu of collection, you MUST talk to a brokerage to find out what options are available to you and which are BEST for you.

You don’t need to talk to the adviser or broker who set up the initial policy for advice – a good independent financial adviser will be happy to help you with any previous policy.

Inform!

In short, if you haven’t started planning your retirement or want to see if you need to do more or want to know what you can do with existing policies, from company pensions, personal pensions and foreign pensions, you need to act now!

Find the right person to advise you on exactly what is available on the market today.

Find the right person to get the best solution for you as soon as possible!