Existing clients can use these links to log in to the Infinity dashboard. Not a client? Why not get in touch to find out about our services.
If you are considering a move abroad, you may find a new interactive graph useful in deciding where to go. Published online by the Telegraph and using statistics from the World Health Organisation, the OECD and the Prudential, the graph illustrates data from 16 of the most popular expat destinations including Thailand, Malaysia, Singapore, China and Australia to show how they compare in terms of average gross earnings, annual pension income, cost of living and the cost of private healthcare.
Those seeking high earnings should consider emigrating to Singapore, Australia, Switzerland and the USA. Average gross earnings are over $45,000 in all of these destinations. Earning potential is less promising in China, Thailand, Mexico and Russia where average annual revenue is under $10,000.
Of course this won’t be relevant if you are looking to retire abroad. The average UK pension pot is estimated to pay out £15,800 per year (source: Prudential), which compares very favourably with comparative figures in popular expat destinations. In Thailand for example the figure is just $2,109 with similar amounts in Singapore ($3,116), China ($2,638) and Malaysia ($2,366).
With the cost of living spiralling in the UK an expat life is tempting more and more retirees. The rising cost of utility bills and the weekly shop in the UK means that many are predicted to seek to make their retirement savings go further by moving abroad. Cost of living, as illustrated by the Consumer Price Index, shows Thailand, Malaysia, Mexico and South Africa coming out favourably in terms of how far your pension will go. Only three of the countries listed are more expensive than the UK and those are Switzerland, Singapore and Australia.
These three nations also come out top when it comes to per capita expenditure on healthcare. With healthcare a big consideration for expat retirees, those are the ones to avoid if you want to minimise expenditure in that area. Of course, wherever you go, a comprehensive medical policy is always advisable for expats living abroad.
The upshot is that if you are one of those seeking to live out your twilight years abroad, it pays to do your research to ensure that your pension really will go further in the destination of your choice. You will also need some professional financial advice to ensure that you are getting the best out of your pension pot and are sufficiently protecting your wealth with suitable life insurance and health cover. If you are considering a move to Asia, get in touch and one of our professional financial advisers can help you get to grips with your finances and ensure a smooth transition to your new life.
This Site and the Content are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of Hong Kong (or located or established in) any other jurisdiction where the use of the Site would be contrary to applicable law or regulation or would subject Infinity Financial Solutions Limited to any registration or licensing requirement in such jurisdiction.
Persons (or entity) who is a citizen or resident of Hong Kong please click on the link below to access our Hong Kong Site.