Let me guess.
The plan was that you would move abroad, earn a higher salary – and even get it tax free – and you would save and save so you could retire early. Sounds familiar? So why is it then that five years down the line you are seemingly no better off? What is it that you are doing wrong?
There are many mistakes people make when they save, particularly expatriates who are unfortunately all too often offered poor advice by offshore salesmen who have no interest in their client’s financial wellbeing.
To help counteract this, here at AES International we are giving away a free guide which explains in five clear principles exactly what steps you need to take to set you on the path to becoming an expat millionaire.
You can read all five principles in detail by downloading our free guide here, but below we briefly outline what they are.
The first is to make a plan. This may sound simplistic, but all too often people lose their way and fail to achieve their goals – whether financially, in work or in their personal life – because they have never made a cohesive plan.
In our free guide, we set out the fundamental points you need to consider when making a plan. Download the guide here for the full explanation.
The second principle is to build this plan on the right foundations. In the international market, there are many people who will never achieve their goals, simply because they did not build on those right foundations. Download our free guide here to find out exactly what these foundations should be.
Investing can seem daunting, particularly if you are not familiar with financial markets. But in our guide, we give you tips and advice which will see you investing more like a pro from day one (third principle) – avoiding the pitfalls of many investors and making the most of your money.
Our fourth principle looks at the importance of keeping costs down, something which again is made even more difficult in international markets, as they are typically not subject to the same rules and restrictions which keep costs down in more developed markets such as the UK.
In the guide, which you can download here for free, we explain exactly why costs are so important and teach you how you can minimise them.
Last, our fifth principle offers guidance on how you can avoid disasters. There are always risks when it comes to investing, but those in the know can see red flags and we will share these with you.
Editor's Note: This post was originally published in May 2015 and has been updated.