As you’ll know, there are many great benefits to being an expat. Not only do you get the opportunity to travel to new places and meet new people, but you also have the opportunity to learn foreign languages and expand your skillset.
Of course, as much as you might enjoy your time living amid another culture, your plans can always change.
According to a recent study published in Asia One, the coronavirus outbreak made many expats reconsider their priorities. The survey noted that more than four-fifths felt detached or lonely during the pandemic and wanted to prioritise flexibility in their life plans.
While the pandemic was a once-in-a-lifetime event, it highlighted how you never know what the future has in store. With that in mind, read on to find out how working with an expert can help you build greater flexibility into your long-term plans.
The pandemic has made many people reconsider their priorities in life
Over the last two years, the coronavirus pandemic changed our lives in a variety of ways. A great example of this is the shift towards remote working, which has become much more commonplace in the past few months.
Despite the perk being very rare only a few years ago, a survey published in the Business Times has found that two-fifths of Singaporeans would now rather work from home than receive a larger annual bonus.
Of course, one of the biggest ways that the pandemic has affected our lives is that it’s made many people reconsider their long-term plans. As the study published by Asia One notes, a large number of expats now place a greater emphasis on being close to their loved ones.
At the end of the day, even if you think you know what you want from the future, it’s important to be flexible, as plans can always change.
Having greater flexibility in retirement can help you to enjoy it more
Over the course of your life, you’ll come across a variety of important opportunities. These can be anything from chances to advance your career, such as starting your own business, to other significant life events such as getting married or starting a family.
These opportunities can hugely enrich your life, which is why it’s important to be able to take advantage of them when they present themselves. So, it can be useful to build flexibility into your long-term plans.
For example, let’s say you were offered a high-flying position with a prestigious company who asked you to move abroad so that their team could learn from your experience. While this would be huge change for you, it could also be an incredible opportunity for your career.
Alternatively, imagine you were enjoying your planned retirement but felt something was missing and so decided to make a major change to your lifestyle. This decision could be hugely enriching, though you may have to rethink some aspects of your situation to achieve it.
At the end of the day, you never know what opportunities the future may hold for you and when they arise, it’s important to have the option to make the most of them. If you want to build more flexibility into your long-term plans, seeking professional advice can really help.
Working with a planner can help you to build more flexibility into your plans
One of the biggest benefits of working with a financial planner is that it can give you the confidence you need to make the most of the myriad opportunities that life presents to you.
We can help you to manage your wealth effectively and enable you to make properly informed decisions if your plans change suddenly. This can give you much greater flexibility in your life, as you’ll have that support no matter what you choose to do.
For example, let’s say that you have a change of heart and decide you want to move to another country. This foray into a new culture can be hugely exciting but would also involve a major change to your life.
Not only might you need to buy a home there, but you’d also need to be aware of the tax implications of the move. On top of this, you’d need to decide what to do with your assets in the country you’re leaving.
Working with a planner can help you to make a smooth transition when your plans change, so you can focus on seizing the opportunities life presents.
Get in touch
If you want to build greater flexibility into your long-term plans, we can help. Either contact your financial planner directly, email us at hello@ascentawealth.com or fill in our online contact form to organise a meeting and we’ll get in touch.
