Promotion for The British Chamber’s Expat Financial Affairs event on Saturday 11th October has made me stop and think.
Suppose I’d been invited to to a similar event when I was in the early stages of my career. Would I have attended or would I have thought – this is not for me, the event is for older people coming up to retirement. I’m earning a reasonable income and life is good. I’ve got plenty of time ahead of me to get serious about my finances.
Regrettably, I would have thought just that and made other plans for my Saturday!
How wrong I would have been! If I’d started to think about financial planning earlier, I would have done some things differently and be more financially well off now.
So with the benefit of hindsight and experience here is what I wish I’d been able to tell my younger self about financial planning:
Set some clear goals
Retirement may seem a long way off but it’s never too early to think about where and when you want to retire. Transport yourself into the future. What kind of lifestyle do you imagine and how much money will you need to finance it?
Put a plan together
To achieve your goals you need a plan. And the best person to help you with this is a qualified financial advisor. Find someone who takes time to fully understand what you want and to fully explain your options.
Put the plan into action and start saving now
The sooner you begin investing for the future, the less it is going to cost you in the long run. Save as much as you can – it is possible to have fun and save at the same time!
Stick with it and review on a regular basis
Regard financial planning as a life-long commitment! Once everything is in place it might be easy to forget about it. But life doesn’t stand still and there’s a need to a review at least once a year.
And finally, seize the opportunity to attend Expat Financial Affairs events!
This is an ideal opportunity to learn more about financial planning, to meet a range of experts and to ensure your finances are on the right track.
Hope to see you at the British Chamber’s Expat Financial Affairs Event on 11th October!