One of the most fundamental savings objectives for any of us is securing enough to retire on comfortably. Note: if you have recently expatriated and you have the likes of a UK based, onshore pension scheme in place, we will discuss this in chapter thirteen. When it comes to saving and investing there is a universal truth, and that is, the sooner you start saving the better, and this is for two main reasons, namely ‘time in the market versus timing the market’, and ‘dollar (or pound) cost averaging.’
Time In versus Timing
For expatriates there are excellent offshore savings or retirement vehicles which can be linked to the stock market. There are some excellent medium to longer-term investment vehicles available, all of which will be geared towards people with varying degrees of risk tolerance. A great many of these policies can benefit from exposure to stocks and shares, cash or bonds or a combination. Now, in light of the recent volatility of the stock market, many people may be initially reluctant to consider such an investment approach. However, when it comes to getting the very best potential returns for your long-term savings, it is all about time spent in the market rather than trying to time your entry into it.