On our last Move Overseas Now Club call, financial expert Scott Durrett joined us to discuss crucial financial planning strategies for those considering a move abroad.
Moving overseas is an exciting adventure that comes with its fair share of challenges, especially when it comes to financial planning. Scott shared invaluable insights about financial strategies, visa requirements, and comprehensive planning for individuals considering relocating abroad.
I personally work with Scott because I have big goals for Spain – specifically to create a retreat center in nature in the South of Spain where I will be hosting healing retreats and doing airbnb stays in pre-fabricated bungalows. I don’t know what I would do without Scott. With his goal-oriented planning we have earmarked accounts such as a high-yield cash savings account which is yielding 11% APY, as well as a real estate account specifically for my project (so I will have my full 30% deposit in 2 years time without touching the principal) as well as other accounts such as the Universal life which I got because of the living benefits – I will be drawing on the tax-free benefits of that for my future property purchases in 10 years.Â
In this blog post, we’ll delve deeper into the key takeaways from this insightful conversation.
Disclaimer: The information provided in this blog post is for educational purposes only and should not be considered as financial advice. Readers are advised to consult with a qualified financial professional before making any investment decisions.
Also don’t forget to JOIN THE MOVE OVERSEAS NOW CLUB for an in depth visa training + an entrepreneur and online business training with guest expert, Arnitha Webb, to talk about making income through an online business, this Sunday, on 8/20 at 10am pst (it’s only $47 and you get access to 2-90 minute trainings a month + access to me and the group via whatsapp)>> https://moveoverseasnow.com/move-overseas-now-club/
Understanding Comprehensive Financial Planning:Â
Scott Durrett, a seasoned financial advisor from Ameriprise Financial, provided an introduction to the importance of comprehensive financial planning. Ameriprise Financial, the largest financial planning firm in the United States, emphasizes the series 66 license, enabling financial advisors to offer objective advice in the best interest of their clients. Scott stressed the significance of understanding clients’ unique goals, timelines, and income expectations to craft tailored financial plans.
Strategies for Financial Success Abroad:
When moving abroad, there’s often a misconception that financial planning becomes complicated. Scott debunked this notion by sharing strategies to generate monthly income, targeting returns of 8-10%. He introduced the concept of a three-tier bucketing strategy, which involves a balanced approach of conservative, high-yield, and growth-focused investments. This approach not only helps preserve principal but also generates a steady stream of income to support one’s lifestyle. And YOU CAN HAVE ALL THESE ACCOUNTS AND NOT LIVE IN THE USA. Scott will show you how. That is what I also love about Scott. All the other financial advisors I worked with weren’t experienced in people living abroad and were opposed to it!Â
Navigating Visa Requirements:
Different countries have varying visa requirements that can impact your financial planning strategies. Scott delved into popular visa options, including the Golden Visa and Digital Nomad Visa. These visas often demand proof of income and savings. He explained how tailored investment strategies, like using high-yield accounts and money market funds, can align with visa prerequisites, ensuring a smooth transition to your new destination.
Empowering Newcomers to Wealth Building:
For those new to wealth building or with limited assets, entering the realm of financial planning can be daunting. Scott addressed these concerns, offering advice on finding financial advisors who are willing to work with clients at all financial stages. He highlighted the importance of personalized planning, reassuring individuals that it’s never too late to start preparing for a secure financial future.
Benefits of Comprehensive Financial Planning:
Throughout the conversation, Scott and host Shauna shared real-life examples of clients they’ve worked with. These case studies showcased the benefits of comprehensive financial planning. From long-term retirement planning to short-term income generation, the value of creating written plans and tracking goals was evident. Comprehensive planning empowers individuals to make informed decisions, ensuring their financial well-being in the face of change.
Your Financial Journey Abroad:
Relocating to a new country is a significant life transition that requires careful planning, especially when it comes to your finances. Scott Durrett’s insights from the Move Overseas Now Club Call shed light on effective strategies to ensure financial stability and growth as you embark on your international adventure. Whether you’re considering an overseas move, looking for guidance in wealth building, or navigating visa requirements, these key takeaways will help you make informed decisions and embrace a secure financial future in your new home.Â
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You can watch the full episode of the Move Overseas Now Club by Joining the Move Overseas Now Club here. Don’t miss out on the opportunity to join the Move Overseas Now Club, I’d love to have you! We talk everything moving abroad and I give you 2-90 minute trainings each month. It is a great way for you to stay on track of your move abroad and learn the essentials that you need to know. I’m here to help you find your way.
Join the Move Overseas Now Club Call this Sunday 8/20 at 10am - 11:30am PST
Join me and my surprise guest expert Arnitha Webb. Don’t miss our upcoming Move Overseas Now Call this Sunday where I will be giving a visa specific training on 15+ countries! You aren’t going to want to miss this! I am going into the ins and outs of each visa. Plus I am going to have Arnitha Webb who has lived all over Europe and is a serial entrepreneur. She will be sharing her insights on her visa path and how those of you who want to be making more money can do so successfully and qualify for digital nomad visas around the globe. She has just launched a kickass website, domain, funnel, email marketing system and ecommerce platform called Womenceo.co. So for those of you who are looking to start a business and start making money you aren’t going to want to miss this training! JOIN THE MOVE OVERSEAS NOW CLUB (it’s only $47 and you get access to 2-90 minute trainings a month + access to me and the group via whatsapp)>> https://moveoverseasnow.com/move-overseas-now-club/
This is your opportunity to engage with a seasoned digital nomad and entrepreneur. Bring all the questions you got!!!
Join Our Exclusive Webinar with Scott Durrett next month on Sept 1
Ready to take the next step in your financial journey? Don’t miss our upcoming webinar featuring Scott Durrett and gain deeper insights into comprehensive financial planning, learn strategies to optimize your investments for international relocation, and get answers to your burning questions.
This is your opportunity to engage with a seasoned financial advisor who has helped countless individuals successfully navigate the complexities of moving overseas while securing their financial future.
Enroll now to reserve your spot and embark on a path towards financial confidence in your new global adventure.
Join the Waitlist for the Ultimate Move Overseas Now Course
Are you feeling overwhelmed and uncertain about your move overseas? Researching and planning every detail on your own can be a time-consuming and stressful process.
Say goodbye to the confusion and stress of planning your move overseas alone. Our ultimate course is like a trusted friend guiding you every step of the way. With this comprehensive resource, you’ll reclaim over 100 hours of your precious time, skipping the frustration of sifting through endless information. Instead, you’ll enjoy a smooth, well-guided journey that leaves you feeling excited, not overwhelmed. Plus, the money you save by avoiding common missteps could be better spent on creating amazing memories in your new home.
Get ready to embark on your overseas adventure with confidence and ease – our course has your back!
