for your Financial Success when living and working
This is an important issue if you plan to stay overseas
for more than even one year. While it is great to see
the world, and have lots of "experiences" - it can all
lose its luster if you return home broke, or have
trouble eating when you get old.
What to do?
This section is designed to help you think about your
financial future and to, perhaps, build a plan. While
working overseas you should view yourself as a "private
contractor" rather than as an employee.
The reason for
this that you will typically be hired to work on
one-year contracts. No employer is looking after your
future or assuring your financial security. Things like
401k accounts, IRAs, etc. - just don't happen. So, you
need to take a look at how to take care of yourself
rather than relying on someone else to do it for you.
There are many investment options to consider with your
potential savings. And there are many options for
taking care of what you have back home. We hope to take
a look at many of them.
When I first went overseas, I had little in the way of
real assets. Since 1992, I have saved enough to buy and
pay off three investment properties, pay off all my
bills (I am debt free!), and put a little money in the
stock market - as well as to have a little cash floating
around. Not bragging - it is all really quite modest -
but I did do it ALL while working overseas. You can
Here's the directory for this section:
Planning for Your Financial Success
What kind of bank accounts do I need?
Should I get an international ATM card?
Should I invest in my new country or my old country?
Should I invest in real estate or the stock market?
How can I manage real estate from overseas?
Should I open a brokerage account?
Can I open one from overseas?
Keeping a "Plan A" - B, and C: Contract “flexibility”
and other problems.