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Startups And Business Advice: Top Mistakes To Avoid

Muzahed I.
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Startups And Business Advice: Top Mistakes To Avoid

The idea of being your own boss is undoubtedly appealing to all. It is common for people to go for startups and business advice while they are young and smart, like the brilliant minds behind Facebook, Instagram, Pinterest and Dropbox who became successful CEOs well before they reached the age of thirty. But as the statistics say, 75% of all startups are doomed to fail because they overlook certain important factors which define the destiny of their entrepreneurial venture.

To the relief of entrepreneurs, these factors have been identified. It is important to keep a look out for these shortfalls as they can prove to be the silent killers of your startups and business failures. If you are not sure as to how to go about making important decisions for your business idea, seeking startups and business advice from successful entrepreneurs could help you immensely.

Living in the Fictional World

Most entrepreneurs start off with amazing innovative ideas which have no value in the eyes of its potential users. It is good to think out of the box but it is equally imperative to keep it real and worthwhile. People are least likely to part from their hard earned finances just to have something in a slightly different shape, color or size unless it solves a major problem. So you need to have a vision and purpose centered around your potential customers’ needs and not on your own thoughts or capabilities. Check this article from NBC news about the 10 greatest entrepreneurs of all times.

Playing Solo or With Too Many

It is difficult to take on the challenges of a business startup alone, but this does not necessarily mean you need a herd to get you started. It may seem to be a very good idea to start off with a group of friends partnering in the venture. This, unfortunately, ends up in single ownership due to clashes, ego wars, misaligned business goals and multiple decision making bodies. The diverse needs of your business will require different people to manage it. This does not mean you need to make them your co-founders – the employer-employee relationship works much better.

Staying Oblivious

No one likes to be criticized. However, as a startup and business advice follower, you need to look out for critics and ideas in order to improve your products and services. Simply closing your eyes and ears to the environment will not make it any better or favorable. The worst thing you can do is try to sell a failed product, fool your investors with unreal promises, run a doomed business, and still remain oblivious to it all.

Financial Mismanagement

However, the idea generator might feel that he bears important knowledge about his business, short-sightedness in business and lack of proper startup and business advice could lead even an amazing idea to fail. Start-up and business advice becomes all the more significant in financial matters. Considering the tax benefits of your company you should avoid setting up your company to high tax rate countries. You may choose instead, other offshore destinations, with no sales tax and other financial benefits.  Here is a nice article explaining the tax benefits and advantages to setup your company in Delaware.

You need to know when and where it is viable to invest your financial resources in order to support your new venture. Being able to generate a lot of initial investment does not mean you have to be spendthrift. While socializing is important, it is equally significant to remain sober and actually deliver what you promise. Know when you need to draw the line.

Marketing Mismanagement

You definitely do not want to be remembered as a “popular failure of this year”. So before you get carried away by your obsession with hype, build a store of favorable news about you. Hitting the press with huge and farfetched promises is almost a sure concoction of under-delivering your customers’ expectations.

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What Exactly Is A Structured Settlement Quote

Muzahed I.
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What Exactly Is A Structured Settlement Quote

Many of you reading this will have no idea what a structured settlement quote is and rightly so. It is a phenomenon that is relatively new, many people out there will receive compensation at some point in their lives and often these are paid incrementally each month. While this is definitely the most financially sound way of doing it, it just doesn’t give you that freedom you crave.

People want access to the lump sum of money in order to do the things they have always wanted to and agreeing to take a loss on the overall sum can give you the opportunities you crave.

There are many SSQ companies out there that offer a wonderful service, to many it will seem wrong that they offer you a lower price but obviously it is a business and profits need to be made.

Compensation money is pretty much free money so taking a lesser sum for the flexibility that comes with a huge amount of cash to me is a no brainer. This article will highlight the ins and outs of a structure settlement quote.

A Chance to Explore

It gives you a chance to explore the world, there are so many amazing places out there that we can visit and it seems a shame to me not to be able to visit. We live in a world that is currently plagued with economic turmoil and worry and thus people are much more skeptical about spending money on travel and enrichment, favoring food and central heating.

There isn’t a problem with this and it seems logical but if you have access to a large sum of money, as you would with a structured settlement, anything is possible. These companies offer you a reduced fee for a lump sum of cash and they then take over the monthly payments you would have previously received.

I believe the loss of money is worth it for the flexibility, it gives you the chance to do and see things in the world that you would never have been able to in the past, as well as this you also do have the option to save for a rainy day too.

All that I am saying is, is the flexibility that comes with the lump sum is worth the small financial loss, as you can find a platform like Dealmarket to help you invest, book a holiday, or buy something life changing.

Help Loved Ones

Many people dream about being able to help out loved ones financially and this gives you the chance to. Obviously monthly payments are more secure but you have got to trust yourself with the money and believe you will do the right things with it.

I just think the flexibility with an arrangement like this is too good to miss out on and is something people should seriously look into.

Why Not?

I can’t see why you wouldn’t be want to have access to a large sum of money, the cut they take isn’t large enough to make it not worthwhile and at the end of the day the money you are receiving is free, you haven’t worked for it.

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5 Strategies To Reinvent Your Career After 50

Muzahed I.
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5 Strategies To Reinvent Your Career After 50

There are many reasons that you may find yourself over 50 and facing a career change. You may find that you have reached an age where you are no longer satisfied with your job and want to be able to contribute to something more meaningful, you may have recently retired and found yourself at loose ends with too much time on your hands, or you may have been one of the unlucky ones to lose their job during the recession. Whatever your reason for wanting to start a second chapter in your life, know that it can be done at your age with ease.

In the past, a career change at 50 or older would have been unthinkable. People were expected to stay in one job for the longevity of their career. To hop from job to job was seen as a failure and judgments were made about a person’s instability or mid-life crises.   In today’s business world, being 50 or older is no longer a restriction but an asset and advantage, because you have measurable experience that you can draw on to perform well. Reinventing yourself can be easy using one or more of the following suggestions.

1. Be a Model. Sounds a little silly, but giving yourself a fresh new look can give yourself a new perspective on your career. When you feel better about yourself you will react differently to situations, including conveying confidence during job interviews. Self-confidence will also provide you with the extra bit of courage you need to start fresh in a new career. So strike a pose and then strut your stuff into the interview, presentation, or even into a meeting applying for a small business loan.

2. Be a Student. Why not freshen up your skills or learn new ones by enrolling in some classes? Many over-50s may feel outdated with your skills as compared to younger fellow workers. Feeling secure about your skills will enable you to offer your abilities to others. The Internet is a great place for taking online classes at your convenience or you can attend on-campus classes in your area. Another place to look for classes that can improve your office skills is the library. The public library provides many free classes about computers, accounting, and interviewing skills.

3. Be Helpful. Another unusual way to reinvent yourself is through volunteering. When you volunteer you give something back to the community. In return, you learn new skills, see issues that you may be able to solve and make business connections that may be useful to your personal career in the future. Community service is a great way to network with other people while providing help to your area.

  4. Be a Mentor. One of the most impressive things you can post on a resume is the fact that you can teach or mentor others. Employers see that your set of skills is superior to others because you are able to teach and not just work. This is also an indication of your people skills and how you can act as a team leader in a group situation. Many people find that when they teach a class or offer tutoring, they move through the ranks of their company much faster.

5. Be the Grasshopper. One of the best things that you can do is hire a professional life coach to work with you on the entire process. Having someone be able to evaluate the situation without being emotionally attached to that situation is an invaluable tool. A client of a life coach in Buffalo found on Noomii.com swears that the coach, “Has created one of the most original and invigorating frameworks for enjoying creative freedom in even the simplest and most mundane parts of everyday life,” which has helped him in his career as filmmaker.

As you can see, reinventing yourself at age 50 is not as complicated as you may think. It just takes a little bit of creativity, a little bit of research, and a whole lot of positive thinking.

Featured image used under Creative Commons License

Can You Still Qualify For Mortgages If You Are Self-Employed?

Muzahed I.
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Can You Still Qualify For Mortgages If You Are Self-Employed?

Whether you are a small-business owner, a freelancer, or an independent contractor, you are probably no stranger to all the benefits of being self-employed. It can be one of the most empowering feelings in the world being able to make money without having to report to a boss or commit to the daily 9 to 5 grind, and you will also get to enjoy tax breaks and other financial loopholes that aren’t available to typical workers. Unfortunately, your career as an independent worker is likely to put you at a disadvantage when you decide you are ready to buy a house. Banks consider self-employed customers to be much riskier borrowers, and they will often make you jump through several hoops if you would like to be considered for a mortgage loan.

You may have a perfect financial record, and your small business may be thriving, but lenders are typically uneasy when dealing with self-employed borrowers. Because the nature of self-employment is more volatile than having a steady paycheck, the onus is on you to prove to the bank that you are worthy of its trust. Still, you should never give up hope. Lenders issue mortgages to self-employed borrowers all the time, but only after they have met several conditions. While the specific requirements will differ slightly between each bank, here are a few tips for how to qualify for a home loan even if you are your own boss.

1. Provide History of Solid Income – In the past, banks would issue self-employed borrowers “stated income” loans. They would simply ask to look at your bank statements over a few months as a way of proving that you were making enough money to qualify for your loan, and they would take you at your word when you claimed what your overall annual income worked out to. Unfortunately, with the recent collapse of the housing market, this type of loan has all but disappeared. Today, you will need to provide income tax statements as proof that you are making enough money in your self-employment to actually carry a home loan. If you have recently gone out on your own, you are very unlikely to qualify for a mortgage, as most lenders require the last two years of tax returns to even consider self-employed applicants. To calculate what the bank deems to be your annual income, it will usually average the last two years together. If you earned £100,000 last year but just £20,000 two years ago, the bank will consider your income to be £60,000, regardless of how your are doing this year.

2. Protect Your Credit with Your Life – Because lenders will consider your employment situation to be risky regardless of any assurances you can give them otherwise, your credit score will be a major influential factor in determining whether you qualify any number of mortgages. Self-employed applicants with credit scores well above 700 are much more likely to be considered for a home loan than those with lower scores because the bank views this number as the only verifiable representation of your responsibility with money. For this reason, you need to guard your credit score with your life. Making sure never to make late payments or other financial blunders is even more essential when you are self-employed.

3. Have a Lot of Cash in the Bank – In addition to great credit and years of taxable income, you should also try to have as much money in the bank as possible. Lenders will often want you to make a down payment as high as 30 percent if you wish to qualify for a mortgage. You will also look much more appealing as a potential borrower if you are self-employed with £1 million in the bank than if you don’t have much in the way of savings.

4. Consider a Cosigner – Unless you can thoroughly impress your potential lender with your credit score, tax returns, and valuable assets, you might find you get turned down for a loan. You may still be able to qualify, though, if you have a friend or relative who is willing to act as your guarantor. Since someone you are close to will probably be sympathetic to your self-employed plight, they may be willing to cosign your loan as long as you can prove to them that it’s not a risky decision. If you have no other options and are determined to buy a house, partnering with a cosigner can sometimes save the day for self-employed borrowers.

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7 Classic Packaging Designs That Will Never Get Old

Muzahed I.
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7 Classic Packaging Designs That Will Never Get Old

As most informed individuals realize, one of the major aims of many firms’ product packaging design is usually to spark a pleasant curiosity in their target market; they aim to do so in a way that will convince their potential customer into giving their commodities a try. It’s really as simple as that. The basis of this process is known as ‘what’s in it for me?’, which means that the potential customer is always looking for what they will gain by purchasing the product.

However getting the right balance on packaging is not a simple affair, and it necessitates a lot of attention to detail and effective application. It can also be a very long, and very complex process. Designers spend time in not only the timeless depiction of the unmatched appeal that a product offers, but at the same time also provoking the right emotions in your customers.

Consequently, many companies go to great lengths to achieve this effect, and usually carry out in-depth studies of the universally accepted trends that crop up in their respective industries.

Some of the classical packaging designs that will never get old include:

The timeless coke bottle design

The timeless coke bottle design is probably the most famous design on our list, and with good reason, it stands barely changed after some 60 plus years.

Some of the most visually-striking and immensely popular packing designs happen to be those of glass, and most of these firms integrate innovative and simplistic elements that have made them a favourite amongst consumers. Taking a case study of the ubiquitous and timeless coke bottle, that has over many years set the pace in the packaging of most beverages. While also representing the height of sophistication, and simplistic elegance that can be recognized in the range of coca cola’s products. This packaging design is, naturally guaranteed to be hugely successful for a very long time, if human nature doesn’t change.

McDonald’s

Whilst featured on our list, Mcdonald’s may not be remembered for the right reasons. Instead it may forever be associated with copious amounts of litter and unwanted weight gain.

Innocent

Innocent has over the years proven to be a highly creative firm that specialises in selling organic drinks that incorporate a unique and refreshing packaging design. The packaging invariably uses interesting elements that are founded on distinct patterns, and neutral colour schemes that are invaluable in enhancing their brand awareness.

J20

J20 relies heavily on their products packaging design simplicity, unlike most of their rivals. They must be bright enough to stand out from amongst a crowded bar fridge, whilst representing their healthy (but trendy) brand image. Their success can in some way be attributed to the distinct and well-branded bottles.

Budweiser

This brand has come to be recognized with the original classic packaging designs they use, and which has never failed to make a lasting impression on their customers. Whilst their target market is young males, its design is surprisingly traditional.

Whatever, the packaging design you implement, it can be wise to enlist the assistance of a competent design firm, which can ensure that you make the most of your product’s allure.

Heinz Tomato Sauce

The Heinz tomato sauce bottle deserves to be on this list for retaining its design even when it moved from glass to plastic. The design itself is approaching 70 years!

Heinz Baked Beans

The Heinz baked bean tin is another product from Heinz that has barely seen any change in all of its years. They were however spurred into action when Branston Beans came on the market; Heinz reacted with introducing ring pulls for their lids.

 

Featured image License All rights reserved by David Sebben

Techniques to Economise in 2014: at Home and the Workplace

Joanne
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Techniques to Economise in 2014: at Home and the Workplace

The start of a New Year brings with it new goals and expectations for the most of us. It is this part of the year when resolutions are generally made, be it shedding a few extra pounds of weight or setting new goals at the workplace. It is an ideal time to take stock of things and to make necessary changes in your life. Of course, for many, a achievable goal is to economise where possible and spend less as the cost of living continues to rise. Here we’ve explored just a few everyday economising techniques.

  • Utility costs take up a fair amount of budget for a home and an energy audit is a good way to analyse energy consumption, be it at home or your business. Hire a professional to carry it out and they can help to suggest ways to improve insulation as well as optimise energy use on your property. Poor insulation can lead to loss of energy both in the summer as well as winter for cooling as well as heating purposes. Make it a priority on your to-do-list this New Year.
  • Check your home or business thoroughly for drafts in different areas like doors, ceilings, walls, windows etc. If you detect any leaks you can plug them up with different types of material like tape or foam and caulk them. This can be done as a DIY task or again you can resort to professional help.
  • Be discerning in your choice of electrical appliances and only go in for energy saving products that have energy labels on them. It is well worth the effort and time spent to verify their efficiency, as they will help you save a considerable sum in terms of energy costs while contributing your bit towards the environment as well.
  • An effective way of cost cutting for those who need to rent storage space is to organise the attic or garage in your home and to do away with any clutter. Old stuff can either be donated or you can organise a garage sale which will leave you with more storage space at home.
  • By making your home more eco-friendly through recycling and minimising use of paper, you can reduce your personal carbon footprint. Also, you can make a few extra pennies at your local recycling center.
  • Another effective way of cutting costs is through installing a water filter at your home or business place as that will help to reduce expenditure on bottled cases of water. It will also minimize the buildup of plastic on your property.
  • The New Year is a good time to ensure that you and your family are in a secure environment and this can be accomplished by checking if the smoke and carbon monoxide  detectors are in working condition. Also check to see if any fire extinguishers or other related home safety apparatus are in working order. In your workplace, fire risk assessments are necessary to ensure all staff are safe from harm and to prevent serious, costly damage within the building. Fire extinguishers and alarm systems will need service and maintenance on a regular basis. you can visit totalfireservicesltd.co.uk to get some ideas.

These simple tips can go a long way in helping you to cut costs at a time when living costs are going through the roof. After all every little bit does add up and goes a long way in economising. Even if something may initially require a cost, in the long run you will certainly notice a positive difference to your bank account!

Have a great new year and get saving!

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Best Debt Management Plan – Which One?

geraldakim
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Best Debt Management Plan – Which One?

If you are someone who is having a debt and is thinking of repaying it as early as possible, then you ought to know what a debt management plan is! You must have heard about various plans from a number of consolidators and companies which help you tremendously with a multitude of options and while keeping your daily living expense in mind to pay out your debts. But the problem with all this is – all of them ask for a fees depending upon the loan amount you have and the living standards which you are currently maintaining!

Pointers for a good company support that helps you plan to manage your debts

1. A Good plan for managing your debts will give you the exact picture:

Any company who really works for clearing out the debts of its clients will give a clear picture of how deep you are in the soup! That means, it will tell you about your credit score and what made you reach that level! It will also check for inaccuracies, file for a free credit report (once in a year) and will give all the calculations in front of you. This is not all! The company will bring forth every expense that went through from your account and the varied reasons for reaching a situation where you are in debts.

2. It will make list of all your incomes and expenditures:

A worthy plan will describe your income and expenditure in detail. Not only this but it will also tell you ways to cut down your expenditure and stop the un-necessary expenditure.

3. Chalk down your actual costs:

A good debt management plan would look into your actual cost of entering into all kind of options. From the time of lump sum payment to systematic pay outs; it will check out everything and give you a sense of security that everything will be done on time. Everything from filling fees, creditor’s bills and calls, interest amount to minimum monthly payments, everything will be done on time and full commitment.

4. No Added charges:

No extra or high charges will be added to a good debt plan by a reliable company! It means it will not come with a good price tag with it stating excuses like – it all has to be there for the execution of the plan. A good and trust worthy company will always remain transparent and work towards your betterment only.

So, before you choose a debt plan, be wary of the above points and make sure that these are included while pondering about a plan to consolidate your debts. These are practically tried and tested thoughts and will definitely prove fruitful when considering a plan/company. Just, do pay attention to these before entering into any debt management contract with any of those credit consolidation companies in the market. At last, whatever suits your present market situation can be considered as a good plan to manage your debts and work towards living a debt free life!

Featured image License All rights reserved by debtcollectionx32

5 Amazing Ways To Grab A Great Deal On Your Mortgage

Muzahed I.
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5 Amazing Ways To Grab A Great Deal On Your Mortgage

If you struggle to pay your mortgage every month it will start to cripple you. It’s something nobody deserves to go through. The easiest way you can ensure that doesn’t happen is by getting the best deal possible. Finding the right mortgage is an art form, but we’re going to look at a few tips that are sure to help you.

Know when to jump in

Just because you want to buy a home right now doesn’t mean it’s a good idea. This is especially true for anyone living at home because you won’t be paying rent each month. Interest rates will always fluctuate and sometimes it’s better to wait until they’re low. You just have to know when to jump in because even if interest rates are low it might cost you more to buy your home. This is because prices usually shoot up once the interest rates drop and it’s all about getting in there quick.

A glowing credit report

If you don’t have a glowing credit report at the moment you must do something about it. Would you honestly give anyone a good deal if they couldn’t be trusted to pay back their loan? Of course you wouldn’t because they would be a liability. If you have a high credit rating you will find lenders willing to throw money at you because they know you’ll pay it back. You will also get a good deal because they know you would be able to get one from somewhere else if need be.

Don’t wait around

I know I said you should wait until interest rates are low, but there are times when you should try to buy as quickly as possible. If you plan on asking for any big loans in the future it might be better to buy your home first. Paying back a big loan every month is going to scare people and you might not be able to get the loan you want. This applies to every form of credit which will show up on your report, so try not to make any big purchases directly before you apply for a mortgage.

Make a lifestyle change

A lot of people try to save money every month, but I’m sure you know it’s not as easy as it seems. Can you really expect to save money if you don’t change your lifestyle? You will probably end up struggling and you’ll not look forward to waking up in the morning. It’s much easier if you downsize your lifestyle because you’ll have extra money every month without thinking about it. You can then use the money to put down a big deposit on your home which will reduce your monthly payments.

Know your needs

Do you need a one-bedroom home, or would you be perfectly happy in a studio apartment? If you plan on starting a family in the next few years you might need something bigger. I’m guessing you don’t need a three-bedroom home and if you had that many bedrooms they’d sit empty anyway. Don’t pay extra money every month if a room isn’t going to be used. Know what your needs are before you attempt to buy your home and you’ll not try to go for anything too expensive.

You’ll regret it later

You must try to find the best deal possible because a mortgage isn’t like a computer. You can’t just overspend by a thousand dollars then write it off. You’ll have to pay for your mistake for years and it will feel like torture. Everything we’ve talked about today should help you find the deal you need and once you’ve bought your home you can relax.

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The Pros And Cons Of Term Life Insurance

Muzahed I.
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The Pros And Cons Of Term Life Insurance

Term life insurance provides coverage at a fixed premium rate for a limited period of time. This life policy usually offers a death benefit only. In order to qualify for compensation, the policyholder must die within the specified term of the policy. If the beneficiary outlives the contract, it expires and has to be renewed. A term life insurance can be terminated as well if the policyholder defaults on monthly premiums.

Terms for this type of insurance policy can last anywhere between ten to thirty years. However, contracts usually vary and some may be valid for just one year, while others can be as long as forty years. Insurance premiums for this life insurance policy depend on several factors. These include aspects such as age, health status, and if the applicant engages in habits that jeopardize health or general wellbeing.

If you are considering taking out a term life insurance cover, you must be wondering, what benefits does this policy provide? Are there any shortcomings associated with it? To find answers to these questions, read on.

Advantages of Term Insurance

  • Term insurance is cost effective compared to other policies such as permanent, whole, universal, and variable universal life insurance. This option is good for you if you are at a time in your life when you need life insurance but have other financial priorities to take care of. For instance, this would be ideal when you are approaching retirement age and you don’t want your kids to suffer when you pass on.
  • The good thing with a term life insurance policy is that it is convertible. What this means is that you can switch to a different life policy such as permanent life insurance at any time. The advantage of this is that you can get affordable life insurance at a time when you are financially burdened and then switch to a more comprehensive cover when your finances improve.

Besides being conversant with the advantages of term life insurance, it is equally important to know about the dark sides that come with this insurance policy. So, let’s have a look at the disadvantages of term insurance as well.

Disadvantages of Term Insurance

  • The biggest disadvantage of term insurance is that you have to pass on during the life of the policy in order to qualify for benefits. Should you pass on even an hour after the term expires, you will not be compensated.
  • With this insurance policy, there is also the risk of ending up with no life insurance at the end of your existing term. This can happen either if you are deemed uninsurable when you attempt to renew the contract, or if you are unable to continue making monthly payments to the insurance company.

Keep in mind that polices for term life insurance are not the same. Since different providers have varying terms and conditions, make sure to read the fine print before putting your signature on the dotted line.  In addition, get and compare quotes from various providers in order to find the best premium rates.

Thinking of Retiring Outside of the UK?

Jamie Waddell
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0

Recent estimates have put the annual number of UK citizens leaving their homeland and retiring abroad at around 300,000. James Cartwright, Senior Product Analyst at financial information services QROPS Review has advised hundreds of budding expats on investment opportunities, pension schemes and buying property overseas. With more and more Brits setting their sights on sunnier climes, we asked him for his tips for dealing with the difficulties and trials of shifting your life to another country.

Property

“The process of buying property overseas can be beset with pitfalls, and the foreign real estate market can often be very difficult to navigate. Many countries impose regulations and restrictions on properties purchased by foreigners, so make sure you’re au fait with the rules before you consider making a purchase.

“If you do get far enough to arrive at a deal, be sure to investigate your financing options. Oftentimes it’s smarter to take out a loan in the local currency, rather than doing so in the UK and awaiting a beneficial exchange rate.

“Also be aware of your tax commitments to the UK and your chosen destination. Be sure to have your contract translated by a professional so as to avoid any misunderstandings.”

Voting Rights and Potential Legal Issues

“Issues such as inheritance taxes, divorce and custody settlements are often handled incredibly differently in different nations. Many nations have reciprocal agreements with the UK to allow these expat disputes to be settled according to UK law, but this doesn’t ensure that there won’t be an overly drawn-out process. Be sure to investigate whether your destination country has a reciprocal agreement with the UK. It might not be a joy to think about, but if you’re spending your twilight years abroad, you may well be ending your life there. Be sure to have your affairs in order before you make the move.

“As far as voting rights are concerned, UK expats have the right to vote in UK elections for 15 years after departing the UK. This may be set to change as there are currently groups rallying to nullify this restriction.”

Frozen State Pensions

“As you’ll be aware, UK state pensions are calculated by these three criteria: your contribution to National Insurance, inflation rates and your tax rate, and for UK pensioners most non-Commonwealth destinations within the European Economic Area offer flexible rates.

“However, it should be made clear that expats choosing to retire in a Commonwealth country or outside of the EEA, your pension is subject to becoming frozen. This is a fixed rate determined by the date that you leave the UK or the date of your first payment. This means that if you’re planning on spending the next 20 years in your new country then you’ll likely find that your state pension won’t be enough to support you. Make sure your employment pension plan (or plans) will be sufficient to keep you going.

UK expat groups are currently battling to change these restrictions, but have made little headway and seem ultimately unlikely to affect a change.”

Healthcare

“If you’re of retiring age then it’s clear that healthcare will be an important facet of your life. Thankfully, the UK does have agreements with many nations that enable you to transfer your current healthcare plan.

“However, it’s important to make sure you investigate this beforehand, as foreign healthcare plans may not cover all services and may prove more costly than you anticipated. Ultimately, proper health cover is an essential part of your retirement plan and should not be done on the cheap”

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