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Key strategies for wealth accumulation

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Becoming financially secure is so simple that almost no one wants to believe it: Save regularly, reinvest your interest and dividend income, maintain your contributions even during down cycles, and you will accumulate wealth. It is that simple. 

The response to the previous two "Net Worth" articles has been very encouraging. Expats of all ages have inquired about financial planning, common queries being whether it is ever too late to refocus or, in some instances, to get started. The answer is definitely no, it is never too late. The younger you are when you start, the easier it will be to achieve your financial independence in a timely manner. More advanced expats have also approached me and asked if they can still achieve a meaningful plan when starting in their forties, fifties and even sixties.

Some younger expats following this topic have been keen to implement a strategy and start turning what were previously just ideas into action. Going about this can be daunting and making a start is the obvious first step. The very first action to take is to establish an offshore bank account in a tax haven where you can start to accumulate cash savings. Many professional advisers can help you with this, at no cost to you.

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