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More and more Brits are taking the plunge and moving overseas. America has become a popular choice for a lot of them, and it’s not hard to see why. After all, our vast country has so much to offer! When moving abroad, there is a lot that needs to be considered, and money is one of the key areas of discussion. With that being said, read on to discover some key pieces of advice for those retiring in the USA specifically.
QROPS stands for Qualifying Recognised Overseas Pension Scheme. This pension has been designed for British expats and international workers who are based offshore yet have pension rights in the United Kingdom. The whole purpose of QROPS is to essentially give anyone who has British pension rights much easier access to their retirement savings in the instance that they were to move abroad on a permanent basis. This type of UK pensions transfer is extremely beneficial. Let’s assess some of the key advantages.
A QROPS may all sound a bit confusing to you if it is something you have never considered greatly before. But don’t worry, as this is why experts are on hand to ensure your UK pensions transfer runs smoothly. Experts will be able to assist if you are also not yet in the retirement phase, but soon will be. They can set up a self directed IRA or any other type of financial product that is going to set you up for your retirement in the USA.
If you are planning on retiring in America, it is so important to make sure that you have all of your finances in order. Firstly, you need to think about how you are going to manage your money right now so that you have enough for your retirement. You then need to consider how you are going to transfer your pension so that you will receive this money while you are living abroad. Hopefully, the information provided in this blog post has been of assistance.
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