Planning ahead 'is the way to retire abroad'

Monday January 26th , 2009

People who feel they cannot afford to retire abroad should plan ahead and not give up hope, it has been claimed.

According to the Independent, many people currently feel that the financial crisis means they cannot escape to sunnier climes.

However, the newspaper reported that specialist financial advisors have said forward planning is the way for would-be expats to achieve their dreams.

Ashley Clark, director of needanadviser.com, warned that people may lose out if they choose to just muddle through.

He explained: "Long-term planning is a must – from what happens to your pension, to property purchase, to how and when you move your assets out of the UK into the country where you want to retire to."

Mr Clark added that retirees must also ensure they organise healthcare costs and also their inheritance tax, as death duties in many countries are punitive.

In related news, Business Life magazine has said that buyers must always obtain title deeds when purchasing property in Cyprus.

Nigel Howarth, a resident and owner of advice website cyprus-property-buyers.com, told the magazine that as the vast majority of properties are purchased off-plan from developers, buyers may wait years to receive their title deeds.
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