We asked our senior Expat financial advisors about the most common mistakes expats make when handling their finances.
- Not planning at all. By just ignoring all the risks and possibilities you have as an expat you (or your family) might get into trouble and at the very least you miss some very good opportunities.
- Starting too late. Pension planning is the best example. You can do so much more if you start planning early.
- Being Tax inefficient. International taxation is confusing, we know. But tax mistakes can cost you a lot of money. For example, US tax for non-resident can cost you 40% in unnecessary tax.
- High fees. You often pay too much for your financial products. For example: Private Banking fees for clients based in Latin America. Often, we discover clients pay up to 3x in fees as European or American domiciled clients.
- Bad advice. Don’t take advice from just anybody. At Equitable Strategy Group we commit to a FIDUCIARY relationship with our clients.
Ask for a free initial consultation from one of our Independent expat advisors.