With people living ever longer, having enough money saved to enjoy retirement is critical.
For many, a corporate pension is the way to go, but many feel uneasy about their contributions being accumulated communally and the requirement to purchase an annuity, meaning the value associated with the pension is based on how long they will live.
Moreover, most expats don't have access to a corporate pension scheme, or are unwilling to be tied down to wherever they happen to be living at that time.
An offshore, tax-free pension that will follow them wherever they happen to move has the flexibility to stay with them throughout the rest of their lives.
In fact, in some ways the term pension is a misnomer - an offshore pension is far too flexible for that.
The expat will always have full ownership of their asset with no annuity to purchase, and contributions are fully flexible as well.
In addition there is no money manager helping the pension fund keep up with inflation, but rather access to the world's finest fund managers and biggest names to suit individual risk profiles.
Top providers include Scottish Provident, Royal Skandia and Generali and are based in locations like the Isle of Man meaning their hard-earned money will be far safer than houses.
Profits on profits and growth on growth will all accumulate tax-free and by retaining a good international Financial Advisor who can focus on keeping the asset on course to reach retirement having experienced significant growth over the years.
Finding this level of service is critical since the actual pension product cannot experience growth in and of itself.
It is the service element of the pension that can really create true value.
In this way, shopping around for an offshore pension is much like choosing a flight.
The product is essentially the same - you will arrive at your destination.
However for every budget airline, there is a pensions bucket shop, hard selling and hustling out as many pension plans as they can.
Now, these are the very same high quality pensions that you will be recommended from a professional and considered financial advisor, but the only time you will hear back from the advisor will be to sell you something else.
The good news is that the high-pressure sales style is immediately obvious within a few minutes.
A considered approach from a financial advisor is essential and it is recommended you should receive a full, personalized illustration and projection by email along with the kind of funds the advisor will recommend for your particular risk profile.
Along with fund fact sheets and product brochures you will be in a position to make more of an informed decision.
However, it's crucial you get started early on.
Compounded growth means the most important payment you make is the first, and the earlier you do it, the more important that payment will be.
For example if you start at the age of 20 investing £209 per month, delaying till 35 will mean you need to pay in £413 to retire at the same income level at 65.
Most expats start saving for retirement at around the age of 35 but the principle remains the same.
So in summary, decide on an appropriate Offshore Investment [http://www.
offshoreguidebook.
com/] to suit you, choose a financial advisor you like, make an informed decision, start as early as possible, and structure your finances so that you can contribute as much as possible each month.
In this way you wont need to worry about retirement ever again.