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Data Reveals Expat Cost of Living Impact

In short, uncertainties regarding Brexit have served to compound a period of global volatility in which the prevailing politically centrist paradigms are being challenged by new polarisations, the US and China have become embroiled in a trade war and the developed world is facing mounting concerns regarding its capacity to maintain state healthcare and pensions systems for an ageing population.

Plan ahead to retain your purchasing power

According to the Office for National Statistics there were more than 207,000 retirement age UK nationals living in the EU in 2017.** If you are one of these and wish to retain your purchasing power during times of volatility, whether these are attributable to Brexit or to other factors, it is essential that you plan ahead by speaking with your expat financial adviser.

One strategy is to consider the possibility of an expat retirement transfer. All pension fund members are subject to the ups and downs of currency shifts, but by making a transfer and having a robust plan in place, you may be able to mitigate any increases in the cost of living.

It is important that you sit down with your financial adviser to discuss the possible impacts of currency exchange rate movements on your retirement assets and cash flow so that you can find the best way to achieve your retirement goals regardless of the vagaries of the market.

Advice from Blacktower Financial Management

If you would like to consider the ways you can retain your purchasing power even in the face of inflation and currency exchange rate movements, speak to Blacktower Financial Management’s expat financial advisers today about the possibility of finding a suitable cross-border solution.

Blacktower Financial Management provides personalised and regulated advice so that you can make the most of your expat pension and your long-term financial goals. Whether you live in Spain, Germany, Sweden or elsewhere in Europe, contact your local Blacktower Financial Management office today.

*  https://equiniti.com/uk/news-and-views/news-releases/cost-of-living-for-uk-expat-pensioners-in-eu-rises-twice-as-fast-as-in-uk/

**https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/internationalmigration/articles/livingabroad/april2018

Disclaimer: The provision of information in this communication is not based on your individual circumstances and does not constitute investment advice.

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.

Other News

Expats can appeal EU Referendum Act decision

Ballot BoxGood news for British expats who are hoping to prove that the EU Referendum Act 2015 unfairly discriminates against them and their decision to exercise their right to freedom of movement in the EU; they have won the right to launch an urgent appeal against the decision to not grant them a vote in the European Union referendum.

The move comes after Lord Justice Lloyd Jones, sitting with Mr Justice Blake at the High Court in London, earlier ruled that section 2 of the Act did not restrict their rights.

The appeal, which is being led by two British expats, is motivated by a desire to prevent Brexit; an event which would unduly affect the lives of the two million British expats who, should Britain leave the EU, face the possibility of having their lives severely disrupted, together with their plans for their expat regular savings. In fact, according to lawyers representing the expats, they face becoming “resident aliens”.

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