We’ve heard from a number of Chase Belgrave IFAs that this is one their most commonly heard questions from clients. That is, if they are to save or prepare, what should be their central target? The proper response is that it depends on the individual: we are all unique.
Having said that, we can oftentimes arrange financing for most future events: purchasing a home, university education, lack of employment. The one event for which financing cannot be sought is retirement. The point in ones life where income abruptly stops and we are all left with a cash flow vacuum which must be filled. Attaining an asset which can give off a passive income on retirement is most often then, the very most urgent financial goal for most people.
But, because it’s also the most distant and the least interesting, it frequently gets put to one side in favour of ostensibly more exciting targets as a house purchase or even buying a card. This can be a critical mistake and is probably the one action that gets most people into sticky situations regarding their personal finances.
Expats are the most vulnerable because, while they often earn handsomely, they are equally often left to fend for themselves regarding retirement planning. Chase Belgrave specialising in helping expats prepare properly for their retirement and financial future.