Chase Belgrave has researched the fortunes of expatriates living overseas, with interesting results. It seems that expats, no matter how different, can often share similar views and similar concerns, especially when it comes to matters of a financial nature.
The act of becoming an expat holds with it a similar sense of adventure, and also similar senses of concern with regards to being in a new country that can be very different to the one you originally came from.
As touched upon it's always natural to have a healthy concern over your finances. Chase Belgrave’s internet survey intended to learn more about expats money concerns, and the results were very interesting.
A prior survey discovered that a main concern was that of retirement, and namely whether the expat in question would have enough money to retire comfortably, with 67 percent of those quizzed citing this as their primary concern.
In the second survey 250 expats participated. One of the questions was: “What concerns you most about your current/short-term financial position and why? What is your biggest concern relating to your long-term financial position and why?”
In response to that, 76 percent stated that a full life of comfortable living and a stable retirement fund was their number one concern. This included having the right pension, and also the possibility of needing care in their later years and decent health insurance.
This underlines the fact that financial planning is vital for a successful financial life.
*Thanks to Chase Belgrave for providing the survey results.