| |
| |
|
|
Wealth Building Information |
|
|
|
Retirement Planning the Offshore Way
Retirement Planning the Offshore Way Why do so many of us constantly push the thought of retirement planning to the back of our minds? Reluctance?! 1 Reluctance to save for an event that seems so far off 2 Reluctance to tie in to an inflexible pension scheme 3 Reluctance to put a large portion of our current income out of reach for the long term But in terms of retirement planning, putting off until tomorrow that which you could get done today will end up costing you very dearly. Every month you delay your retirement savings planning, you significantly reduce the value of your future potential retirement fund. Or put another way, every month you delay your retirement savings planning you significantly increase the amount that you will need to invest to achieve the same level of retirement income than if you'd started today. If a 25 year old and a 35 year old were to start saving for retirement at 55 and the 25 year old invested £300 a month towards retirement, the 35 year old would have to increase his contributions to £803 a month to achieve the same potential returns. At the state retirement age of 65 the average man will have some 19 more years to live and the average woman, 22 years. You will have to support yourself without work and, very likely, without state income. This means that you will spend 25% to 30% of your life in retirement. You will need substantial sums of money to support yourself in retirement in the manner to which you will have become accustomed throughout your life to date. Recent figures show that individuals aged between 25 and 44 are saving 1/3rd of the amount they should be saving in order to support their current lifestyle in retirement. In most countries you are forced to make your own pension provision if you want to have any chance of a comfortable retirement. The value of the government pension that you could once rely on is diminishing every year. Ready to Start Planning? If you're an expatriate you are in a more privileged position than most - chances are you're enjoying a higher salary and extra benefits as a result of working away from home. Furthermore expatriates have greater freedom when it comes to making investment decisions: they are not necessarily restricted by the same regulations that domestic investors experience. Decisions That Need To Be Made The most sensible solution would seem to be finding a safe harbour to anchor your retirement investments so that you can move from country to country as necessary without this having any negative impact on your assets. However, if you decide to do this you need to decide exactly where that safe harbour should be. Offshore financial centres present a viable solution - especially if you are undecided as to your eventual retirement destination. Basing your pension investment offshore should mean that future movements of capital or income are not impeded. What To Be Aware Of Your own personal circumstances are unique. Be realistic about how much you should be contributing. Consider the charges the bonuses and the flexibility of any investment plan - generally the more flexible the plan the more charges will be. Know that a good offshore retirement plan should allow you to do the following without penalty: -1 Reduce contributions without penalty (normally after an initial period of one to two years). 2 Switch investments between different funds to respond to changes in the market. Preferably including funds managed by other people outside of the institution zone. 3 Have the option of retiring when you want to without penalty. 4 Allow certain access to monies invested (again, after an initial period). How to Find the RIGHT Solution Finding out what each provider's best products are currently, and then hand picking the best to suit your own personal needs and current circumstances is the best idea! But how impractical! Do you have the time to do this? Would you consider yourself an expert in offshore investments and pension planning? Where would you start? Obviously professional advice will get you the right solution and save you time and money and reduce your cost of delay significantly! To find out more about what solutions are on offer in the market place and to learn more about offshore investing and saving for your future, visit http://www.offshoreinvestmentguide.com today. Discover how to build wealth, enjoy greater privacy, protect your assets and secure your financial future with the Offshore Investment Guide. R L Williamson is an independent offshore financial specialist. She has worked in the fields of financial advice, specialising in retirement planning and she has worked in investment banking. Through her work she has travelled widely and lived in many different countries around the world. Meeting expatriates, international investors and being an expatriate herself, she is well versed in understanding the different financial needs of the individual, and she is an expert when it comes to finding the RIGHT offshore solutions.
MORE RESOURCES:
Wealth-Building - Google News |
|
|
|
RELATED ARTICLES
3 Simple Ways to Generate Cash Flow This article focuses on generating cash as a full time job or "on the side" to support your business. These are three easy methods that will help you grow your business while generating more cash on the side. Does Money Grow On Trees? "Money Doesn't Grow On Trees."Some of us even believe it. Re-discovering the Fundamentals of Financial Planning To lose weight in the 80's, we went on low-calorie diets. In the 90's, we switched to low-fat diets, and now, in the 21st Century, we are completely convinced that it's all about the low-carb diet. Retirement - Can You Afford It? Every day you work is one day closer to your retirement. But can you afford to stop work? If you were unable to go to work for 6 months due to illness or injury, would you still have enough income to support yourself and your family? Even if you kept working, would you have enough money put aside to comfortably retire after a hard lifetime of work? If you kept working or doing as you're doing today, for the next 10 years, would you be in a better position to retire? Have you ever calculated whether your superannuation or the pension is going to be enough for you to retire on?For most people these questions either remain unanswered or have negative responses. 10 Ways To Find The Money Hiding In Your Paycheck No matter how tight things are financially for you; no matter how bleak you think that 2005 might be, if you are earning a paycheck then there's extra money hiding in it. You just need to know where to look. Generate Savings with Smart Use of Electricity! No matter what income level you are currently at, generating savings is always a smart move to make. So what is one area you can generate a satisfying level of savings? Change your habits and how you use electricity. Super-charge Your Dream of Retiring Rich with the Roth 401K! This retirement account is so new and unique that you may not have heard of it. For additional reasons, I describe in my home study course, corporate insiders may not want to offer it to corporate employees. Residual Income - The Myth "Join our program and retire in 3 months.. How To Grow Your Mental Power and Let Your Brain Make You Rich No one has complete control over their thoughts. But with practice, with deliberate attention, far more control can be achieved. Thought Creates Reality Even When It Comes To Money What if I told you that reading a book would also change the way you react to the demands that rest upon your shoulders by the system of money you live under. Would you click HERE to learn more about that new way of perceiving your own money situation that would change everything for you especially where money is concerned?What if I told you that reading a book would also change your thoughts and beliefs about money, and change the very reason you have less money than you need and/or desire. Real Estate Stories that Show You How! Let's begin easing you out of the pits. I mean, comfort zone! I'm going to slowly and methodically give you as many little sparks and insights to the relatively simple ways that ordinary people use real estate to achieve extraordinary results. Russ Whitney - Building Wealth Through Real Estate When Building Wealth by Russ Whitney was released a few years ago it sent shockwaves through the real estate industry and uncovered some amazing insights into Real Estate and Russ Whitney. It also opened the door for many people to get involved in the Real Estate Training Investing Training World. Investment Techniques For Creating Passive Income There are many wealth creation strategies and investment techniques available to those who are looking to create a passive income. These fall into three main categories. Prosperity An ellipsis to your success is hidden in the word prosperity. Take a letter; make a word; assign a meaning, discover a pathway to your prosperity. Do You Want To Save Money Easily? Living on credit is fashionable. Indulging oneself is fashionable. Lesson 2 - The Commodity Of Kings! What is "The Commodity of Kings""Power is simply "the ability to act." Since ancient times, power has been the commodity of kings. 6 Proven Wealth Building Strategies Building wealth is as simple as saving a little bit here and a little bit there. You need not have great riches in order to accumulate wealth, but you need to have the drive, determination, and discipline to successfully increase your wealth. Plan For Wealth One very important wealth creating habit is to set up a concrete plan that you can actually follow. You see, wealth takes planning, and is usually the result of taking a set of orderly, progressive steps from where you are now to where you want to be financially. Uncle Sams Snake Oild Uncle Sam and his band of merry-men, better known as Congress, have been pushing snake oil on the unsuspecting public in the form of retirement plans. But wait, isn't a pension plan one of the perks we look to when shopping for an employer? Well, not all pension planning is created equal and in most cases, quite disastrous. New Year Resolutions to a Better Financial Future There could not be a better time to mull over the changes needed in our life style than at the beginning of a New Year. This is also a good time to set yearly goals and make resolutions.
|
| home | site map |
| © 2006 |