You may be Fit but are You Financially Fit? (Ho Chi Minh City)
After some 14 years working with expats Internationally, it never ceases to amaze me just how many people ignore planning for their Financial Future. There are many things we can't Guarantee in life but two things are guaranteed ! - We will have to eventually STOP working and retire, and Protected content will DIE. So why is it then that so many people have no retirement planning and don't even have Life Insurance? The main reasons is we simply haven't sat down and made a plan yet the true saying goes " If we fail to plan we are planning to fail" the other reason after many years i have found is that people tend to think it will stretch their finances and live in hope that if they have some property or a pension from a previous company that will hopefully cover them!!! House prices as we all know can crash but hopefully won't have if you need to see yours to provide you with a retirement income ....but hey then where you going to Live? Pensions well in the UK they are being dissolved disappearing are heavily taxed if your an expat and we could go on.
Its surprising that most people don't even have enough provision when it comes to getting on the property ladder, yet a simple 15 year savings plan could provide you with that all important deposit on your first property. Whether your a school teacher or a business owner, you must start to make the right plans and yet from as little as a few hundred euros a month you could quite easily build a tax efficient 200,000 retirement plan, depending on starting age.
So i know one thing we can all afford a complimentary Consultation that would identify the exact areas that are missing in your financial future, so make the smart decision and take a look at
and let us show you the way forward starting today.
Here are 10 reasons why you need to !
Reason #10: You may need more money than you think. People are living longer, and it’s not uncommon to enjoy a 30-year retirement or longer. That means your retirement savings may have to last you almost as long as your working career.
Reason #9: Inflation—things just keep getting more and more expensive. Remember what an ice cream cone cost 10 years ago? Just think how expensive it will be to take your friends or the grandchildren out for ice cream when you’re retired.
Reason #8: Unlike today’s retirees, you may not be able to count on Social Security. Most of us are going to need additional retirement income. One way to save that money is to join your employer’s retirement plan.
Reason #7: Your employer’s retirement plan offers you several different investment choices—so you decide how your savings are invested. Depending on your situation, you can stick with higher-risk stock investments now and allocate more of your investment into lower-risk bond and money market/stable value investments when you near retirement.
Reason #6: It’s easy to participate in your employer’s retirement plan because you don’t have to make a big commitment. You can save as little as 1% or 2% of your pay—for many, that’s just a few dollars a week.
Reason #5: The plan keeps you on a disciplined savings path. Because your contributions are directly deducted from your paycheck and deposited into your plan account, you don’t have the temptation to spend that money somewhere else.
Reason #4: It doesn’t matter if you’re still working for the same employer when you retire. The vested portion of your plan account is portable, which means that if you change jobs, your vested account can move with you.
Reason #3: Every before-tax dollar you contribute to the plan is one less dollar you include in your taxable income on your tax return today. That’s the benefit of before-tax contributions—they can lower your current taxable income.
Reason #2: Your savings can grow tax-deferred. That means you don’t pay taxes on any earnings until you take money out of the plan. The money you would have paid the tax man will have the opportunity to grow and compound for your future.
Reason #1: Because of the benefits of compounding— when money makes money, and then that money has a chance to make money—the sooner you start saving for your future, the easier it will be to reach your goals. Compounding makes the money you save today more powerful than the money you save tomorrow.