The flexible solution for international expats looking to save £500+ a month or invest a one off lump sum
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Saving is a great habit to get into
And it's even more important when you're living and working abroad.
Aside from the lifestyle and experience, many expats work abroad because the salaries can be significantly higher and taxes potentially lower, so it’s a great opportunity to save while you’re away.
As a brief overview, here are some of the reasons why you should have an Expat Savings Plan.
Saving is a great habit to get into
This is even more important when you’re living and working abroad. You may not have a company pension plan, university fees can be a lot more expensive or you may wish to buy an extra home locally. Aside from the lifestyle and experience, most expats work abroad because the salaries can be significantly higher and taxes potentially lower, so it’s a great opportunity to save while you’re away.
Over time your savings will build up and, even if you just save the same amount, interest on interest soon adds up. This is called compound interest and even Einstein admitted it was the eighth wonder of the world. But, getting the most out of compound interest takes time which is why most regular savings plans are longer and need some positive discipline from you.
Make the most of your time living abroad
We will only show you plans that are available where you are living. We will let you know which plans have limited time offers and incentives so that you can make the most out of your plan from the outset. We ONLY use safe and secure locations, normally UK Crown Dependencies with transparent investor protection and regulation and we only compare reputable, recognised companies. Just tell us what you need and we'll show you what's available!
How long should you save for?
It really depends on what you want to save for and how much you want to save. If you would like to retire in 15 years then choose 15 years but make sure whatever amount you save is something you can afford during that time. This helps you have a clear picture of your target amount in retirement which you can then manage over time.
If you’re earning a lot more for say the five years you plan to work abroad then it makes sense to save a larger amount but over a shorter period of time.
Dollar/Pound/Euro Cost Averaging?
This is the process of regularly saving the same amount, usually on a monthly basis, to smooth out the highs and lows of the market in which you’re invested. It’s also extremely useful as a means of saving if you don’t have a lump sum to invest.
The effect of pound cost averaging is that you're buying assets at different prices on a regular basis, rather than buying at just one price. And while riding out the movements of the market, you could also end up better off than if you invested with a lump sum.
Let’s look at this in practice.
If you invested a £10,000 lump sum and bought share units valued at £10 each, you'd have 1,000 units. This would remain fixed unless you bought more units.
Now, if you bought £500 worth of share units per month over 18 months (£10,000 overall), you would buy 50 units in the first month.
If the unit price went down to £9.50 in the second month, you'd be able to buy 52 units, as the share units are at a lower price, and so on and so on.
If the unit price recovers to the original £10 your lump sum would not have grown, but a regular savings plan would have more units and thus more growth on your capital.
One potential downside of this is that if your savings continuously grow, you'll be missing out on some of that growth as not all of your money has been invested over the whole period. But then if your investments continuously grow then it’s not that bad a downside!
With so many different providers and solutions on the market today it can be hard to know which advice to trust.
Guardian GS is the global arm of Guardian Wealth Management, a UK regulated international financial planning firm with over 7,000 clients and over half a billion US dollars under management.
Guardian GS has been specifically created to assist clients in the more remote areas of the world and uses the latest online technology to ensure you are in touch with your money, and your planner, wherever you may be living.
All of our Planners are qualified to provide financial advice from the jurisdictions in which they operate.
Guardian boasts being one of the few Planning companies to have an in-house Investment Committee comprising both internal and external specialists. All overseen by our own in-house Chartered Financial Analyst.
Guardian GS is fully independent and can choose from an extensive range of potential solutions. However the most important decision is the security of where your money is held. Guardian mainly use UK Crown Dependencies or territories with similar protection and the same transparent regulations.
It is important you are confident that the advice you receive is truly independent. Guardian can offer a range of pricing options including fixed fee, initial fees or provider based. You can be sure though that all charges are transparent and you know how much it will cost and what you can expect before opening any plan.
Guardian GS has a number of options for keeping in touch. Depending the service you choose we hold interactive web meetings, online conferencing and Seperately Managed Account (SMA) investor platforms with cutting edge client portals. Our SMA platform provided by Praemium International recently won the Lonsec Awards for best investment platform. Guardian GS uses client portal technology to manage the application process, taking away as much of the hassle from you as possible.
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Malton | UK
I would very much like to thank you for all your advice, care and attention over my affairs through the last 2.5 years. I have felt my business, albeit very modest, to have been with a really very safe pair of hands and I have thoroughly enjoyed the contact we have had. I am only sorry not to have started sooner!
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