Prepare for Retirement With These 5 Offshore Investments
Many adults look forward to retirement and have great expectations about where they might live, what passions and hobbies they will pursue and how much free time they will have. However, many people also dread the prospect of retirement simply because it means a lack of regular employment income.
If you’ve worked hard throughout your life, you deserve a retirement that allows you to enjoy yourself without worrying constantly about money. One of the best ways to start preparing financially for a secure retirement is through one of these five great offshore investments.
International Real Estate Where You Plan to Retire
If you already have your heart set on retiring somewhere tropical, then start preparing for that eventuality by buying real estate that could one day serve as your retirement destination. For example, a couple in their 40s could purchase a beach home in Belize. They might use the property as a getaway destination for a few weeks each year, but they can also bring in a rental income by offering it as a vacation rental.
By the time retirement rolls around, you will have a home waiting for you in your dream destination.
International Managed Mutual Funds
Although you might be focused on saving money to go toward your retirement, you may not necessarily have the time or desire to manage multiple stocks, bonds and shares. Thankfully, you don’t have to.
By investing in international managed mutual funds, you will get both a diverse portfolio and expert guidance. You can check in on the value of your fund at any time, but you can also let a professional manage the day-to-day decisions.
Anyone who is looking 10 or even 30 years ahead to retirement might be searching for something that can stand the test of time. What, then, could be more fitting that gold or silver, both of which have been valued for thousands of years across the world? Precious metals are a secure international investment for those who don’t want to tie their retirement savings to a single currency.
Lifestyle Savings Accounts
One of the toughest aspects of preparing for retirement is knowing when to set aside income and put it into a savings account for the long-term. A lifestyle savings account can be the perfect option if you want to receive constant encouragement to buildup your savings.
Every time you reach a new balance bracket, which might be $25,000 or $100,000, your interest rate rises, letting you make a greater profit on the money set aside to fund your retirement.
Along with trying to financially prepare for the costs of retirement, some individuals are focused on how to protect and preserve their assets for dependents, loved ones or even charitable organizations. It is never to early to establish an offshore trust, and doing so now can help you to save money each year on taxes.
There is a lot more to preparing for retirement than just working on your golf swing and picking the perfect destination. You’ll also want to prepare financially so that you can enjoy the retirement you deserve.