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Planning for a Long Retirement in Spain

How to live longer in Spain

If you really want to live a long and healthy life in Spain, you need to live like a Spaniard. This is according to the Washington-based Institute for Health Metrics and Evaluation, which recently released details of a report on how the Spanish will soon sit top of the world longevity tables, outranking even long-time leaders Japan.

One reason for this is the much-lauded Mediterranean diet, including lots of olive oil and fresh fruit and vegetables. Other factors include the Spanish tendency to take long walks, as well as the fact that Spanish couples have a propensity for remaining physically active, even as they get older.

But, increased longevity brings with it some very serious challenges. Foremost among these is the following question: if you are going to live several years or even decades longer than your parents or grandparents, how can you make sure your pensions and savings will provide you with sufficient income to see you through your retirement?

Like most wealth management questions, there is no magic answer. Unless by ‘magic’ you mean ‘planning’.

Yes, planning for your retirement is almost certainly the way to give yourself the best chance of success. Starting as early as possible and investing in a diverse portfolio of retirement assets is likely to be the answer for most savers. However, retirement investing can be challenging and, especially for the lay investor, bewildering and frustrating.

The trick is to take financial advice at an early stage. This may be particularly true for UK expats who are enjoying the Spanish lifestyle – so if you are resident in Spain, you should contact your expat financial advisers in Spain for the help you need to intelligently plan for your retirement, including understanding how to structure your investments in Spain.

Blacktower, Expat Financial Advisers in Spain

Blacktower Financial Management has more than 30 years of wealth management experience, helping its clients with all aspects of investment, income, pensions, and retirement planning.

Our expat financial advisers in Spain can help you achieve your financial goals. Contact us today for more information.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

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For instance, in one popular expat destination, the Netherlands, research was recently published to suggest that many expats could do with more financial help.

The survey, carried out by the International Community Advisory Panel (ICAP), an independent foundation hoping to strengthen the connection between the Netherlands’ international community and the Dutch government, has shown that the majority of expats living in the Netherlands do not receive enough help from the Dutch government when it comes to several key matters, including finding affordable housing and integrating their children into the school system.

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Why Portugal makes for one of the best retirement destinations

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For example, Live & Invest Overseas have ranked the country’s popular southern region, the Algarve, as the best place in the world to retire for four years in a row.

This is further backed up by HSBC’s Expat Explorer Survey, which is based on research conducted by YouGov, polling over 27,500 expats from 159 different countries. According to the report, 42 percent of expats in Portugal are retired, compared with a global average of just 11 percent. And out of these retirees, the overwhelming majority (96 percent) rated the country as good or very good, showing the reason that once your working years are over, so many choose to retire to Portugal.

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