Retirement Planning is the process of setting financial goals and creating a strategy to sustain your desired lifestyle after leaving the workforce. Effective planning involves assessing income sources (pensions, investments, property), estimating expenses, and accounting for inflation, healthcare costs, and longevity risk. Many people underestimate how much they’ll need in retirement, leading to financial strain later in life. A structured Retirement Plan considers factors like State Pension eligibility, private pension growth, and alternative income streams (e.g., rental properties or dividend-paying investments). Expats must also navigate cross-border tax issues and currency fluctuations that could erode their savings. |
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