Choosing the right financial adviser is a very important decision. Whilst it is a very positive step to work with an experienced professional, the selection process has its risks. You need to find the right adviser for your needs. This is especially true for British expats living in a country like Spain, where there can be added complexities in the financial planning process due to different cultures, tax laws and language barriers.
According to the NHS, around one-quarter of British adults aged over 65 need help with daily tasks – whether from paid professionals or unpaid volunteers (e.g. family members). In England alone, 10m people across all age groups are affected by social care at a given time, with £22bn spent by local authorities between 2021 and 2022 on adult care alone.
Divorce is, by nature, a stressful and complicated time for everyone involved. For British expats, however, the process can be even more difficult. You may need to navigate a foreign legal system, language barriers and difficult questions about asset division and where you will both live. This is a vast and sensitive topic, but it is important to have a robust financial plan which can help to carry you through an expat divorce if this ever happens to you.
If you are reading this and planning (or hoping) to get married, then congratulations! There is a lot of preparation to do, especially for the big day. Yet tying the knot also brings a lot of financial planning considerations to the table. It is important to prepare for these with your eyes open. This is especially true for British expats marrying someone from abroad. The culture, tax laws and property rights associated with your (imminent) spouse may be vastly different from those in the UK.
There are lots of reasons why British expats might choose to return to the UK. Maybe you need to be nearby to care for an elderly relative. Perhaps retirement overseas did not work out exactly as you hoped and it is time to go home.
In 2023 there will be an estimated 35 million digital nomads worldwide, with British nationals making up 8% of the total. Common careers for these individuals include consulting, marketing, content creation and digital design.