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Financial Planning for a Brighter Future
Email: [email protected] Telephone: +971 4450 9700
10 things you should know to get the most from your Expat status.
Loving the Expat life?
TOP 10 EXPAT INVESTMENTSQUESTIONS
TOP 10 EXPAT INVESTMENTSQUESTIONS
Top
Email: [email protected] Telephone: +971 4450 9700
Loving the Expat life?
Things10
to consider to make sure you get the most from your Expat status.
As an international worker you are most likely receiving a higher salary and are probably benefiting from lower taxes. These two factors combined provide the perfect platform for planning your retirement. giving you the ideal time to plan for your retirement.
Planning for your future can be daunting at the best of times and doing so in a foreign land certainly doesn’t make the process any easier.
As a fellow expats who have lived all around the globe we too have experienced the benefits AND the pitfalls of being an international worker. To help you navigate your way through this minefield I have pooled together my experience and knowledge to compile a list of the top 10 things all expats need to know to enable you to plan and save effectively for your future, as well as negotiating any bumps in the road along the way.
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10 Colour Palette
17c 100m 0y 0k 36c 0m 100y 0k 36c 0m 0y 0k 17c 72m 0y 0k
5c 100m 84y 10k 0c 0m 7y 16k 12c 0m 15y 24k 1c 30m 25y 3k
0c 0m 34y 78k
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0c 0m 27y 62k 0c 0m 20y 47k 0c 0m 14y 31k 0c 0m 7y 16k 0c 0m 3y 8k
5c 100m 84y 35k
1) Be tax efficientPeople often confuse ‘Tax evasion’ with ‘Tax Avoidance’. While tax evasion is prohibited, utilising approved offshore solutions to minimise the amount of tax you pay is perfectly legal and can result in a significant increase in the value of your investments.
Tax regulations differ all around the world. Being aware of not only legislation where you presently reside but how that might impact your future plans is a task in itself. Seeking professional advice is always recommended!
Fortunately for you, all Guardian planners including myself are CISI qualified and are experts in international taxation laws
2) Invest long termThe value of an investment can fluctuate over time, however studies show that the longer you hold an investment the greater the probability that you will exceed your desired returns. A typical reaction when markets dip is to think sell and sell quick. It’s worth remembering though that a loss only becomes a loss when you sell at the reduced rate. Strong capital growth tends to come from long term investing rather than chopping and changing to try and make a quick profit.
Our award winning iGuard investment platform uses managed model portfolios to ensure your funds are invested in products that match your attitude to risk and managed daily ensuring opportunities are maximised and risks are minimised.
3) Do consider your next stepMost expats will move to at least one more destination whether it be somewhere completely new or back to the UK.
Have you considered where you want to live when you retire?
The cost of living differs greatly all around the globe, combine this with different tax rules and if you aren’t careful you could be left with a significant shortfall in your retirement fund.
Thanks to our online platform and portal technology, expats all around the world are able to receive first class regulated advice wherever their lives take them.
4) Plan for when you are goneThey say the two constants in life are death and taxes. When planning for the future consider what will happen to your wealth when you die.
You work hard for your money and quite rightly you want to pass on as much of your wealth to loved ones. As an international worker you
should consider writing a will to prevent your estate becoming tied up in red tape.
We have scoured the globe to bring together some of the greatest minds of the financial world and while we are yet to find the key to everlasting life, we have developed a formula to help reduce the amount of Inheritance tax you pay!
5) Considertransferring yourpension
The reforms of 2015 have certainly improved the UK pension system considerably. Compared to other jurisdictions this is still quite restrictive and many funds are under-performing. Thankfully expats are able to transfer their pension into a Qualifying
Recognised Overseas Pension Scheme (QROPS for short). In doing so you can withdraw a larger tax free lump sum, pay less tax at source and have greater investment freedom.
If you chose to switch your UK private pension it is strongly recommended that you seek professional
advice. If you use a QROPS provider that is not recognised by UK HMRC then your UK pension scheme may refuse to make the transfer, or you’ll have to pay at least 40% tax on the transfer.
do
Email: [email protected] Telephone: +971 4450 9700
don’t1) Don’t think it’s too lateIt’s never too late to start saving, naturally the sooner you start the longer your investment has to grow. The longer your savings are invested the more interest you will earn. In time your interest will earn interest ensuring your money works harder for you.
We have many solutions of varying risk and reward designed to help people of all ages achieve their retirement goals so don’t delay any longer, start saving now!
2) Don’t chase the marketA natural reaction when markets dip is to sell but by selling at a lower price you are crystallising your losses, in reality you should be looking to purchase more of what you were happy to buy previously only now at a discounted rate. Chasing by its very definition means you are reacting to something that’s already happened.
Unless you can predict the markets and act before something loses value (In which case have you considered a career in Financial Planning?) investing long term should always be your aim.
3) Don’t forget to protect yourwealthYour health and life is vital to your earnings potential and the future of your family. Without properly protecting your finances, you may be putting them at risk.
There are two main types of insurances to protect against loss of earnings; critical illness cover and income protection insurance. The first is a lump sum benefit and second a regular, replacement income for while you cannot work. The good news is that we are able to make a plan for you that covers every eventuality and means that you won’t be left struggling to meet your daily cost of living.
Just as important as the things you should do are the things you shouldn’t, here are some dont’s you should avoid.
Email: [email protected] Telephone: +971 4450 9700
4) Don’t focus on oneproductAs the saying goes; ‘don’t place all your eggs in one basket.’ Always look to diversify your investment portfolio to ensure you aren’t reliant or over-exposed to a particular market.
When formulating your offshore savings plan we will take the time to understand your attitude to risk, the level of input you wish to have in managing your investments and the specific objectives that you’re trying to achieve. We will then make various recommendations, tailor-made to you.
Remember, wherever you are in the world..
5) Don’t settle for a poor serviceWe believe that our use of technology sets us apart from our competitors. Guardian brings together cutting edge online technology and first class regulated financial advice to ensure that expatriates have access to lifestyle financial planning advice as good as, if not better than what you would expect back home.
As a Guardian client you can contact your adviser and monitor your investments at any time of the day regardless of location.
Our advanced technology will keep you on track and loving the Expat life.
Financial Planning for a Brighter Future
UK EUROPE SWITZERLAND MIDDLE EAST ASIA PACIFIC REGION
Email: [email protected] Web: www.guardianwealthmanagement.com
The information provided is for guidance only and should not be relied on as financial advice. Advice should be sought before making any financial decisions. Guardian cannot be held responsible for any errors or omissions which result in financial loss.
Contact us now!General Enquiries +971 4450 9700 or email [email protected]
About Guardian
About Guardian Wealth Management
One of the world’s leading providers
Guardian has been providing lifestyle financial planning to clients around the globe for almost 20 years and was born from Keystone Independent Ltd, our original UK entity. Staying true to our UK roots is important to us, however please note that we trade as GWM Financial Planning Ltd so as not to cause confusion with any other financial companies of similar name. GWM’s UK operations primarily help expats repatriate their savings in the most tax efficient way possible, if and when they decide to return home.From modest beginnings Guardian has grown to become one of the world’s leading providers of international lifestyle financial planning, which in itself remains a specialism in international finance, and now looks after over 7,000 international clients, managing over £450m of client savings.
