Living as an expat it is easy to take a back seat to planning for the future. Before you moved abroad you did your fair share of planning and research. It’s time to start getting back to life’s regular responsibilities. Planning for the future as an expat means you have a few extra things to consider. We cover the most important things you need to plan for in your future.
Why you need to consider Financial planning as an expat
Start saving for your future as an expat
Planning your career as an expat
In the past, taking an expat position abroad increased your chance of professional success when returning home . Therefore career planning for your future as an expat is so important. The cliché question ‘where do you see yourself in 5 years?’ can help you get an idea of where you’re going in your career and what are the right paths for you.
Investing in yourself and your own personal career development will help you secure your ideal position down the line. Once you have reviewed your own career, skills and ideal future roles. Start mapping out what you need and how you can get to where you want to be. Making will help you achieve your career goals over time.
Planning your Retirement as an Expat
Consider consolidating your pension pots
As an expat it is not uncommon to live and work in more than one country in your career. This can lead to you making contributions to more than one pension plan. This is not an issue when you are young but when it comes to retirement, you won't want to lose track of any contributions you have made.
Consolidating your retirement funds will allow you to access your pension plan with an offshore account. Giving you access to your pension pot virtually.
How to Plan for retirement abroad
How to plan for retirement at home
Planning your move home
If life as an expat is only a temporary move for your career you need to consider planning your return home. Moving back home might seem like a smooth transition. But be prepared to feel out of sorts for a while. If you have been abroad for a long time then you need to prepare yourself to experience reverse culture shock. Planning for this eventuality can help you settle in back home.
Consider taking similar actions to planning your move abroad. Seek out ways to maintain your lifestyle at home. Look for expat communities you can join, and get in touch with old friends at home. Planning for small and simple steps can help you transition back to life in your home country.
Seek advice from a professional
As an expat you have to navigate so much, from new tax regulations, new cultures to language barriers and feelings of isolation. So, it is safe to say getting advice on all of this can go a long way.
allows you to speak to a professional offering multilingual and confidential support for mental, financial, physical and emotional wellbeing. Helping you plan for the future with support available 24 hours a day, 7 days a week and 365 days a year.