Offshore Savings Guide

The number one reason why expatriates are forced to give up on their dream of a new life abroad is because they fail to get their money matters in order – fact.

This fact alone should be enough of an incentive for you to ensure you do not make the same mistake.  But just in case you need more convincing, allow us to point out that even those British retirees who planned well and then moved within the eurozone a few years ago have been hit extremely hard by the fall in the value of the pound.  I.e., even careful planning may not be enough to secure your future.

Therefore, as we will impart and explain in this report, the key to success when it comes to managing money matters ahead of and following retirement abroad is keeping on top of your finances at all times.  This needn’t be arduous, time consuming nor difficult and there are those who can and will assist you – but it is critical if you want to enjoy your retirement and have a good, guaranteed standard of living overseas.

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Sending your money back and forth abroad is becoming an ever more complex undertaking - what with fluctuating (and even nose diving) exchange rates and multiple FX brokerages seemingly offering you ‘the best deal,’ it’s tricky to know where to look if you want to move money efficiently and cost effectively.  However, the good news is that new developments in the foreign exchange industry are actually making it increasingly easy for you to control your money and even achieve great savings on your foreign transfer payments.

Whether you need to move money to aid emigration, offshore investment or property investment, or you’re sending funds to family or to pay bills internationally, it certainly makes sense to explore all your options if any of them can potentially save you time, hassle and even money…

At Shelter Offshore we have again teamed up with independent money transfer price comparison website http://www.SendMoneyHome.org to detail how new online developments are giving the public more transparency and, more importantly, greater control over their finances.  If you want to take control of your foreign exchange money matters and be better informed, learn how you can trade currencies and get back in the driver’s seat when it comes to your finances, read on…

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Many expatriates quickly learn that an onshore pension is not necessarily the best place for them to stash their cash towards retirement once they become non-resident for income tax purposes in the UK.  The reason being, the only ‘perk’ left with a pension is lost to you as soon as you lose your tax status in the UK.

I.e., you are no longer eligible for pension tax relief when you expatriate – so there is pretty much nothing good about a UK pension for Brits living abroad.  Knowing this fact means that it’s quite striking when you hear an onshore pension expert also seriously questioning the ‘value’ and ‘worth’ of this type of retirement savings vehicle.

The director-general of the Centre for Retirement Reform, which is an independent think tank, has stated categorically that: “I’m beginning to think that saving into the current pension proposition might be fifth or even sixth on the list of vehicles to consider.”  So, expatriates, what are your options now?  We take a closer look.

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