Make time for a comparison

01/31/2022

Every day we experience that expats are tempted by great sales stories or high returns. A lack of insight into costs, the fine print and the risks make it a complex puzzle for many. A good comparison of your options is therefore essential.

The impact of your choices

Making the wrong choice with your money can prevent you from meeting your goals for later and that can be very annoying. Especially when it comes to your pension or paying off a mortgage. How you ultimately invest, or through which party, has a huge impact on your final result.

Would you like to spend your retirement days as the proverbial King or as a Monk? Of course you want to be able to enjoy a carefree old age. The prospect of getting by on a meagre pension after 40 years of work does not appeal to anyone. Therefore, spend enough time on a good comparison. This way you protect yourself from major mistakes.

"I want to be able to explain my mistakes. That means I only do things that I fully understand."

Warren Buffet

Paying too much costs

Unfortunately, there are still parties that charge 3% to 4% costs per year for a savings plan. By paying 1% less in costs, you will earn just under $50,000 after 20 years. This could be your retirement just that year earlier or that trip around the world that you so desperately wanted to make.

Opt for the highest return

The perception is that the highest return is always the best. However, high returns come with risks. If investing is bad, you can lose more money. Losses that are too big are difficult to recover. You don't want to continue working after your retirement because of a bad investment choice, do you?

Investing without a plan

Investing can be a good way to build up more wealth in the long term. You must, however, respect the basic rules of investing. Investing without a plan is often a recipe for failure. Without a plan, emotions quickly take over and you sell at the bottom of the market.

You don't have time, you make it

Investing is not an everyday topic for many. This is not surprising given the complexity of investing. Costs, risks, returns and the investment policy... You have to understand a lot to be well prepared. As a result, the process of choosing an asset manager is often thoughtless or simply too little time is spent on it. But how do you proceed when you buy a sofa or a kitchen? This will probably take you hours - if not days - comparing all the options. So why not when it comes to your investments? So make time for a good comparison. It is ultimately your goals and dreams for later that you play it safe.

You are not alone

Finding your ideal asset manager is not easy and also takes a lot of time. Which parties suit your situation and preferences? How do you compare costs, returns and risks? From experience we can say that it takes many hours, if not days, to make a good comparison yourself. In addition, a wrong comparison is quickly made. The good news is that you are not alone. We are happy to help you make the right choices and have already sorted everything out for you. You can call on us for tailor-made advice (free of charge) or hire us for asset management. Contact us today without any obligation: info@expatwealthatwork.com