Where to turn to for financial advice when you need it, and some thoughts on a different kind of investment.
Asking for Advice
In any foreign country, Singapore included, managing your expat salary and your financial future can seem daunting. If you’re worried about certain money-related aspects of your life here, opting for a financial partner might be the way forward. For some, it can be an enormous help in securing their family’s future while making the most of being away from their home country.
Expat Financial Planning, a division of Globaleye, has been providing advice for expats for the past 10 years, on everything from insurance issues to simplifying tax. It has a team of independent advisors who provide unbiased financial solutions to both corporate and private clients, who number 15,000 worldwide. We spoke with one of those clients, based in Singapore, about their experience.
I’ve been here for three years, having moved from the UK. With little understanding of financial markets and the best way to save, it seemed sensible to approach professionals in the industry. It wasn’t an easy decision where to invest and save money, so it made sense using a company where I had a connection.
What surprised me was how flexible plans could be. I’d heard so much about financial plans that lock you into a commitment for a fixed period with little scope for adjustment. It had never been brought to my attention that there are plans available with 100 percent flexibility, allowing you to increase the amount in your fund by as little or as much as you want and with no financial penalty if you’d like to take money out.
I really feel working with Expat Financial Planning has developed my financial responsibility early on and given me a greater understanding of the ways in which I can save being an expat.
My advice to anyone thinking about getting financial advice would be to start as early as possible with any amount you feel comfortable with.