Selecting Suitable Offshore Investments for Your Retirement

Senior couple on pierRetirement will likely be the most expensive thing you ever do, so it is vital to start preparing for it as soon as possible. With enough savings and investments in place, your retirement can be a time for fun, relaxation, travel and enjoyment. Conversely, however, those who haven’t set aside enough money for retirement can feel frustrated, insecure and unable to provide for their loved ones.

One of the best ways to prepare sufficiently for your retirement is to invest offshore. With so many options, choosing the best investments for your needs can feel overwhelming. Use these tips to choose the right offshore investments that will be best for your retirement.

Consider Expected Time of Retirement

Perhaps the most important place to start is to determine when retirement will be for you. It is never too early to start financially preparing for retirement, but the schedule will dictate what investments are most suitable.

If you are planning to retire in the next year or two, you’ll want an investment that can be made liquid in a hurry if necessary. If you’re 30 years old and you don’t plan on retiring for another 35 years, then a long-term offshore investment might be adequate.

Determine Where You’d Like to Retire

Offshore investments are available from a range of countries, and each jurisdiction has something unique to offer that you’ll want to consider. Of course, if you are planning to retire in an overseas destination, then it might make sense to invest more heavily in opportunities within the region.

For example, if you hope to retire soon to the beaches of Belize, then it might make sense to make residential real estate one of your upcoming offshore investments. Between now and retirement, you could bring in rental income from the property, and then you could make the home your personal residence once you are ready to retire. If you plan to retire domestically, then pick an offshore investment destination based on tax benefits, overall costs and expenses and stability in both the government and the local banking system.

Prioritize Your Financial Concerns for Retirement

No two retirees will have the same financial concerns leading up to their retirement. One person might be most concerned with having enough money to last the next 30 years, which means that investments that continuously pay off in dividends or via rental income might be best. Some retirees, on the other hand, are not worried about having enough money for their own retirement but are focused on preserving their assets for the next generation. In that case, the best offshore investment might be the establishment of an offshore trust.

Reduce Vulnerability Through Diversification

Without earned income through employment, you will rely heavily on your offshore investments during retirement. Don’t put your eggs into one basket, proverbially speaking, and instead embrace diversification. Choose at least three distinct types of offshore investments to reduce risk, just some of which could include gold, real estate, stocks or foreign currencies.

To best prepare for retirement and financial stability, consider these tips as you choose the right offshore investments for your future.

Contact Caye Bank today for more information about smart investing for retirement.

About this author

Caye International Bank Limited (CIBL) was granted an Unrestricted "A" Class International Banking License on September 29th, 2003 by the Central Bank of Belize and is regulated by the Central Bank of Belize which set the standards for liquidity and capital adequacy.