Welcome to the one hundred and thirty sixth episode of the #Expatchat podcasts where we discuss the latest tax and financial issues affecting an #Australianexpat.
In today’s Expat Chat we discuss why Australian expats should avoid investing in investment bonds when they live overseas and are saving for retirement.
Any Australian expat who has spent time in the Middle East or Asia will be all too familiar of the scenario when they get the call from a unknown number and on the other end of the line is a smooth talking salesman with a British accent (or sometimes an Australian one too surprisingly) espousing the virtues of investing in a offshore bond.
These punitive financial products can go by many different names – insurance bond, executive bond, whole of life insurance, offshore savings bond – but the premise and why they don’t work is the same.
They will talk about how to avoid pay tax on your investments, both when you live overseas and you return home, why contributing to your super account will make you a tax resident of Australia (this is false by the way) and how a investment bond is the answer to all of your expat prayers when it comes to making the most of your time overseas.
Unfortunately some of this is fluff, a lot of it is incorrect and the rest is just plain misleading.
In this episode we run through the following topics:
- What is a investment bond and why should a Australian expat avoid one?
- Why do these type of investment bonds not work for Australian expats and why were they banned in Australia and the UK many years ago?
- Why these products only favour the insurance salesman and investment bond issuer and not the client?
Links that we discussed in this episode include:
- Upcoming Seminars & Webinars – https://atlaswealth.com/events
- Facebook Group – Don’t forget to join our Australian Expat Financial Forum Facebook Group – https://www.facebook.com/groups/Australianexpatfinancialforum
- Ask Atlas – Have your questions answered on the podcast by clicking this link – https://atlaswealth.com/news-media/australian-expat-podcasts/questions-or-feedback-for-the-expat-podcast/
- Expat Mortgage Podcast – https://atlaswealth.com/news-media/australian-expat-podcasts/expat-mortgage-podcast/
If you like the content make sure you let us know by hitting the thumbs up and subscribing as well as providing some feedback in the comments below.
Atlas Wealth Management is a specialist in providing tax financial planning advice to every Australian #expat.
Whether you are based in Asia, the Middle East, Europe or the Americas, we have the experience in providing wealth management and planning services to the expatriate community.
Atlas Wealth Management was born out of the demand from expats who wanted a financial adviser to help them navigate the tax and financial maze of living abroad as well as assisting them make the most out of their time overseas.
To find out more about Atlas Wealth Management and how we can help Australian expats please go to https://www.atlaswealth.com.
Make sure you connect with us on our respective social media channels:
Facebook: www.facebook.com/atlaswealthmgmt
LinkedIn: www.linkedin.com/company/atlas-wealth-management
Twitter: www.twitter.com/atlaswealthmgmt
Instagram: www.instagram.com/atlaswealthmgmt
Youtube: www.youtube.com/@atlaswealthmgmt
Make Sure You Don’t Miss An Episode of the Expat Chat Podcast
To ensure you don’t miss any future episodes make sure you subscribe to our podcast on your favourite channels below.
As we’d like to educate as many Australian expats as possible we’d also sincerely appreciate it if you could share this page using the buttons at the bottom of this article.
