When judging the likelihood of a Brexit I prefer not to listen to polls as they never seem to get it right. Currently, polls are showing 50-55% to stay in and 45-50% a Brexit depending on which one you look at. I prefer to look at what the real experts are saying, the guys who put their money where their mouths are and use every resource and data available. These are the bookies! Both William Hill and Paddy Power are offering odds of 1/3 that the UK will stay in and 9/4 for a Brexit. This averaged out indicates around a 30% chance of the Brexit happening.
When investing I try to eliminate extra risks for my clients so it is best to keep things simple. If you hold Euros and live in Spain, invest in Euros. If you hold Sterling invest in Sterling and do not change for change’s sake as this will just create additional costs and risks that are not needed.
I have been a fully-qualified financial adviser for 28 years and also understand the needs of expats and the rules that apply to ex-British living and retiring in Spain. So if you need to talk through your own situation then please feel free to contact me and we can have a no obligation discussion about the best way forward for your investments. Get in touch by filling in one of our contact forms.
What is a frozen pension?
Pensions transfers for expats may become simpler if the Department for Work & Pensions follows through on plans to drop the requirement for consumers to receive accredited advice before making an expat pension transfer.