News & Insights

What happens if you have no pension left?

A recent report looked at America, Australia, Switzerland Canada and Denmark.  All these countries have similar freedoms in place to those in the UK. The report looked at how pensioners spent their money in those countries.  

Alarmingly, if the Brits spent like the Ozzies 40% would run out of money at age 75! 10 years into retirement. Leaving for men an average further 12 years relying on the state pension alone.

In the study it was clear that the ones most affected in terms of detriment to their life styles was the middle class who were used to a better standard of living.

Because of the new “flat-rate” state pension, which comes in next year, and pensioners credit, retirees who run out of private pension savings are at low risk of falling into poverty but pensioners would be at “substantial” risk of falling below other poverty indicators, such as the “low income” threshold at 70pc of typical income. 

The warnings are clear, please do not dice with your pension, if you make the wrong choices you could regret it for most of the rest of your life.

Other News

Brexit – In or Out

That is the question concerning many expatriates at the moment. What a difference a few days can make to the whole issue, before Cameron went to the EU to try to negotiate with a group of people that dislike anything that could disrupt the status quo or threaten their position (no matter how valid the argument), it looked like the in vote had the upper hand. 

Since returning and announcing the referendum on 23rd June, people he once considered good friends, allies and colleagues who he could count on for support have decided to join the out camp and now this is gaining momentum.

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Tax changes for second home owners in France after Brexit

Paris Street, FranceIf you’ve moved overseas or have a second home in France, you may be used to calling several places home. After all, living in France won’t always mean completely cutting ties with your country of origin as you may still have family living there or own other property.

But when you own property abroad, it’s crucial to stay up to date with any tax legislation and law reforms in that country, or you could be in for a nasty shock. That’s why it’s so important to take charge of your wealth management to make the most of your second property in France.

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