Financial Planning For Expats
Living in a foreign country poses many challenges, many of which you may have considered and others you surely haven’t. Among these, managing your finances can prove to be a real nightmare if you’re not well prepared.
If you are an expat living in or relocating to New Zealand, you have unique financial needs. At MyFuture, our expert financial planners understand these needs and have the knowledge and experience to provide you with a personalised service that protects you now, secures your future, and keeps you prepared for whatever life throws at you.
Personal financial planning imparts you with a strategic roadmap for achieving your financial goals while avoiding monetary pitfalls. A robust financial plan can help expats living in New Zealand pursue their financial independence and goals for the future, without having to sacrifice their freedom.
Financial Planning For Expats
Taking on the opportunity to work in another country can be an exhilarating and life changing experience. Moving to New Zealand offers an enviable lifestyle, culture, and quality of life to those choosing to relocate. However, any time you move from one country to another, there are financial implications to consider.
The experienced financial planners at MyFuture will work with you to ensure compliance with all the applicable domestic and international laws, while helping you take advantage of the opportunities available to you as an expat.
Get in touch with us today for your FREE no obligation Discovery Session to see how we can make the most of your financial planning opportunities.
What Are The Advantages Of Being An Expat In New Zealand?
here are ample benefits for expats moving to New Zealand.
Having ranked 6th globally among top countries for relocation in the Expat Insider 2021 ranking, our laid back country offers a great work-life balance, temperate climate, endless natural beauty, the highest minimum wage in the world, and world class education and healthcare systems.
More importantly, New Zealand has been consistently ranked in the top ten countries in terms of protecting investors, starting a business, and ease of doing business.
Is It Worth Going To A Financial Adviser?
This is a rhetorical question really because of course it’s worth going to a financial adviser!
Our Qualified Financial Advisers have a wealth of knowledge and are ready to put it to use for expatriates living in or relocating to New Zealand.
At MyFuture, we take a holistic, but personalised approach to help you plot a course through all the cross-border complexities to achieve your financial freedom.
Get Ahead With Quality Financial Advice
Our Qualified Financial Advisers can help you achieve your goals with a tailored financial plan and proven financial expertise.
How Does Financial Planning For Expats Work?
We know that your time is precious and you want to enjoy the free time you have while at the same time preparing for a comfortable retirement. That’s why the team at MyFuture provides personalised service that puts your needs first. The financial planning process follows a proven 6-step process to make sure all your bases are covered and your financial needs are met.
What is our 6-Step Financial Advice Process?
The 6-step financial advice process is the international benchmark for financial planning. This holistic approach is proven to increase the likelihood of you achieving your financial goals.
Discovery Session
This is our opportunity to get to know you better, understand your financial goals (short, medium and long-term), and what resources you have to achieve those goals.
Research & Recommendations
During these steps, we do the research, run the numbers, document and present our recommendations to you. This can be a comprehensive financial plan focused on long-term wealth creation and/or a statement of advice focused on your more immediate financial needs. We will need to verify the information you provided during the Discovery Session by requesting supporting documents such as loan and savings account balances, payslips, etc. This ensures we are using highly accurate information when developing our recommendations.
Implementation
This step is all about implementing the recommendations. We don’t just provide the recommendation; we take responsibility for helping you implement it. This could involve helping you to complete application forms, working with a broker to restructure your lending, or finding you suitable investments. We understand you’re busy, so our goal is to make your financial world as easy as possible by doing as much as we can in-house for you. However, ultimately, we never have access to your money and cannot sign anything on your behalf, so you need to be an active, willing, and ideally enthusiastic participant in this process.
Ongoing Service & Reviews
This is where the real fun begins—managing and tracking your long-term financial success. We have periodic reviews to ensure your strategy is still appropriate if your goals or circumstances have changed. We adjust when necessary and provide annual snapshots so you can see your progress over time. Most importantly, you have your very own trusted Personal Financial Adviser available anytime to help with the little or big stuff. Worried about making next month’s mortgage repayments? Call us. Your parents gave you an early inheritance? Call us. Broke up with your partner and split all your assets? Call us! We’re here for you every step of the way to ensure that whatever life throws at you, you stay on track with your long-term financial goals.
Frequently Asked Questions
Why Is Financial Planning Important For Expats?
With so many perks to living in New Zealand, many expats are surprised to learn about any drawbacks. While many jobs are enticing due to high salaries, pay is relative to the cost of living which can be prohibitive.
Also, the tax system works differently compared to other developed countries, so it’s important to account for these differences when making financial decisions. The Qualified Financial Advisers at MyFuture can guide you every step of the way so you don’t go astray.
A financial plan can help you reach your lifestyle goals. But most importantly, it can provide you with the financial security that eludes many people who work paycheck to paycheck.
Whether you’ve got big plans or more modest ones, take the first step on the road to financial independence and contact our team for a FREE no obligation Discovery Session today.