What happens in the global economy and the international financial markets affects us all. Events on Wall Street and movements in commodity prices may seem remote and distant from our lives here in Cambodia but the fact is if you are a saver, have a pension or other investments these things are fundamental to how our investments perform.
In 2012/2013 applications to the UK’s Universities and College Admissions Service (UCAS) dropped 6.3% year on year and it is expected that this trend will continue for 2013/2014 admissions. In actual terms, this means that there were 40,000 less applicants for university places in the UK which represents a significant fall.
Current bank interests are so risible that even money held in interest paying deposit accounts is losing value. The rate paid is not keeping pace with inflation so in real terms, people saving in these accounts are actually losing money.
You don't need truck-loads of cash and shadowy third party associates to open offshore bank accounts, but the process does have to be planned carefully to ensure you get the best financial results. Offshore banking is now a legitimate and reputable business and most financial centres offering this facility are tightly regulated to ensure maximum security for investors. Even so, nothing is guaranteed in the world of investment so this is not an undertaking to rush into without researching it first.
Retirement is a word that many of my clients tell me they cannot relate to. They can’t relate to it because they cannot envision themselves in a “traditional” retirement mode of perpetual golf, naps on the beach, and no more work. But to a person, they want financial independence at some point in their future; financial independence defined as the ability to make choices regarding their personal path because they have accumulated sufficient assets with which to replace the income currently provided by their business, their employer or both.
What the pyramids taught wealth managers
Any good builder knows that you will never build a house on sand. Well, let me rephrase that a little. You would not build a house on sand if you wanted it to stand up to the elements and remain steadfast for years to come-sand simply will not support the structure for you.
The vital element of any project is its foundations, the basis on which all other actions and decisions are made as a follow on. Good foundations will mean you can build a bigger, stronger structure that will stand the test of time.
When it comes to cost of living you could be better staying where you are – in South East Asia, that’s the message from a recent expat survey. But are you really making the most of those savings?
According to a recent expat cost of living survey you may well be able to count your blessings – and your savings – by living in a city in South East Asia. In a list of fifty of the world’s most expensive places to live there isn’t one South East Asian country listed.