8 Tips for Managing Your Money in China

By Sponsored, April 25, 2024

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As an expatriate residing in China, it is crucial to understand your investment options to secure your financial future.

Most expatriates start using international investments within their first year in China. However, if you have been in China for longer than a year, it is especially important to review your investment options as soon as possible.

By using international investments, expatriates have access to several benefits such as tax efficiency, security, protection, portability, and confidentiality.

Many expatriates choose to work overseas for financial benefits such as an increase in income, housing benefits, school fees paid, or a lower cost of living.

Whatever the reason, the result is an increase in disposable income. The key is to save or invest that additional income to financially benefit you in the future.

There are several reasons why expats use international investments and benefit from them. Here are a few examples:

Retirement Planning

Saving for retirement is very common for expatriates, either because your retirement contributions have stopped while you are not a resident in your home country, or by using your excess disposable income now you can plan to retire earlier or retire with an increased income.

As an expatriate it is important to have a full retirement analysis completed by a professional financial consultant.

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Children’s Future Education Costs

The cost of higher education is increasing at a faster rate than inflation. While some companies may cover the cost of children's education until they turn 18, it is uncommon for them to cover the cost of higher education.

Therefore, it is wise to start saving for future children's education expenses now, to avoid any financial burden in the future.

Financial Security

While some expatriates have a very clear idea of their future financial needs and goals, this is not always the case, so they use international investments to build their future financial security for when the need arises.

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Higher Growth

You can unlock exclusive opportunities that are only available to expatriates through international investments. This could result in higher growth than you would achieve by investing in your home country.

Wealth Management Consulting

It's great to know that many expatriates have already invested internationally. If you're one of them, the key to success is to receive ongoing wealth management from your financial consultant. This will ensure that you're achieving maximum growth and on track to meet your financial goals.

International investments are portable, which means you can switch your financial adviser without affecting your investment. Your consultant will guide you on the best investment structure to suit your needs.

Regular Savings

This is where you have excess disposable income that you would like to save on a monthly or quarterly basis to build a lump sum that you could use in the future.

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Lump Sum

If you have money sitting in a bank account which is getting a low growth return, you can make a one-off lump-sum investment to get that money working harder for you.

Consultant Change

If you are currently working with a financial adviser, it may be helpful to seek a second opinion to ensure that you are on track to achieve your financial goals, receiving the best possible growth, and benefiting from the highest levels of professional service.

Take charge of your future and secure your financial stability by filling out the form to book a consultation with our experienced financial consultants today.

Click on 'Read more' at the end of this post or scan the QR code below to schedule your free consultation.

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