Work Abroad Tax Free & Solve Your Retirement Problem

Summary: How more Americans, Brits and Europeans are working abroad, saving tax, investing to the max and solving their retirement problems

We all know how important a pension is – it’s a fact drummed in to us by our peers, colleagues, employers, parents, bank managers, the media, advisers and friends.  So why then have so few of us got anywhere near enough in our savings pot towards our retirement and what are we really going to do to cope with the looming pension crisis other than panic?

Well, if the majority of us Generation X types - i.e., those born between 1960 and 1980 - carry on as we are getting deeper into housing related debt and working longer and longer hours for less cash in the bank and less respect from our bosses we’re certainly going to crumble under poverty in retirement if not beforehand – but what if we told you that you could work abroad tax free for a few years and solve your retirement problem in so doing?  It’s all about expatriate tax saving and offshore investing, it’s entirely possible for you to do and here’s how you go about it…

More and more Americans and Europeans of working age are deciding to work abroad for a fixed or prolonged period of time.  On the one hand as a generation we understand that so much experience and value can be gained by exploring the world, integrating with other cultures and bringing our expertise and experience to other nations – and on the other hand there is an increased general awareness that you can actually earn more and pay less in the form of taxes and costs of living by upping sticks and heading overseas for employment for a good few years!

Tax free employment hubs like Dubai have done a great deal for the promotion of the concept of working abroad tax free - and those who are most successfully exploiting the massive taxation saving benefits of living and working in Dubai carefully calculated what they would need to live on a month before they arrived in the United Arab Emirates and then committed to putting every single additional penny earned into a high interest savings scheme.

In so doing, the working expatriates in question are making the very most of their advantages – they are legitimately avoiding all forms of income taxation, they are keeping their spending to modest levels, they are saving to the max, and if they are wise and in a position to do so they are investing their excess wealth offshore to have access to higher interest paying and lower tax deducting schemes to give their retirement savings plan a massive kick start.

We’ve termed this entire concept ‘the expatriate advantage’ and you’ll see the concept referenced throughout this site.  Basically if you leave your country of domicile behind and become resident for taxation purposes elsewhere in the world (preferably in a low or no tax jurisdiction like Dubai for example) and you work abroad in this location for a period of time whilst saving all the tax you would have paid on a similar salary back home, you can put away today far more than your peers back home and you can put away today enough to solve your retirement problem once and for all thus making the very most of your expatriate advantage!

Pension advisers always say the sooner you start saving the better – this is largely because of compound interest related growth – so the sooner you commit to working abroad, saving on tax and putting a nice regular amount or lump sum in a qualifying investment plan the better.

Look on the internet, in trade press, contact recruitment agencies and visit forums.  Find out what skills you need to work in a particular field in a given country, find out what jobs you’re qualified for and where in the world you can go.  Apply for suitable positions and all the while keep in mind your reasons for doing this.  As an expatriate tax saving is 100% possible and what’s more, gaining access to the world of offshore saving, investing and banking is also possible, thus giving you an even greater chance to make the money you earn and save work harder and go further than if you stay at home stuck on the treadmill. 

Go on, you know it makes sense!  Live a little, explore your options…consider working abroad and giving your retirement plan a boost.

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