Pension and Retirement Planning

Over the last few years, more and more people have come to realise that they must examine their plan for retirement very closely in order to ensure that they are able to retire at a time, and income level, that is in keeping with their objectives. Gone are the days where your employer, or the state, would look after you in your ‘golden’ years.

If we skim through the press, we will find a mass of recent news articles reporting how a significant proportion of the population is coming into retirement to find that they are drastically underinvested and, thus, unable to retire comfortably. They find themselves either needing to keep working (if indeed that is possible) or dependent upon family or charity in order to be able to make ends meet.

Whilst it is true that expats will tend to earn more than their local counterparts, the fact that they move from place to place goes against them as it will often prevent the forming of coherent financial plans, including retirement planning.

So, what is the solution?
So, expat or not, you need to be taking responsibility for saving for your own retirement. I often say to clients that you should consider future benefits payable from company schemes and the state as the icing and cherry on the cake. You must buy the ingredients and make the main part of the cake yourself – no one else will do it for you.