Why Retirees Love Offshore Asset Management
Offshore asset management is a great way for anyone to recruit an offshore financial expert to help manage their assets. Even if you have a strong and diverse financial portfolio, having professional offshore asset management may be able to boost your holdings, free up your free time or give you peace of mind about your security. As a retiree, offshore asset management can be even more beneficial.
Discover some just some of the many reasons that retirees love offshore asset management.
Expert Advice Regarding Offshore Estate Planning
Although it is certainly true that offshore asset management is helpful at any stage of life, retirees are a special example because they are often beginning their estate planning in earnest. Estate planning, particularly for those with a high net worth, is about much more than just leaving assets to your children or loved ones.
If you have the expert guidance of an offshore asset manager, you will be able to create customized trusts that safeguard key assets and ensure that your loved ones will be provided for in the future. You can set aside assets for charitable groups, or you could establish life insurance wrappers to guarantee the financial security of your dependents.
Managing your assets offshore, rather than domestically, also means that your long-term estate planning strategy won’t be derailed by inflation, since it should be diversified and include a variety of different currency forms.
Making the Most of Offshore Tax Benefits
Another reason that retirees can appreciate offshore asset management is because it has the potential to help them reduce their taxes. If you’re retired, then there is a good chance that you’re living on a set income. This could be a pension from years of employment, Social Security or just a strict budget to ensure that you are financially secure for the rest of your life.
Either way, having a set budget means that every penny spend on taxes is a reduction in your overall quality of living. By opting for offshore asset management, you can have the expert advice of a financial manager who is familiar with the most tax-friendly jurisdictions.
For instance, they might help keep your assets in a bank in Belize, where tax laws are incredibly appealing to foreign account holders and there is no capital gains tax at all. This helps you pocket more of your money each year, a definite advantage when you’re in retirement.
Frees up Time for Retirees to Enjoy Life
Retirement should be the time in your life when you are free to pursue your passions and your hobbies. Unfortunately, many retirees spend too much of this stage of life worried about their finances, tracking various markets and learning as much as possible about estate planning.
Even if you’re an expert in financial matters, it can feel amazing to let it all go and relinquish control to someone who makes it their job to care for your portfolio. You’ll have more time to play golf, go fishing, travel the world and spend time with your friends and loved ones when you opt for professional offshore asset management.
As you get closer to retirement, give thought to the many benefits of offshore asset management, which is available through Caye International Bank in Belize.