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Looking after one’s wealth is even more important when living overseas, according to Shelter Offshore.
The expat advice portal has explained that by making a move abroad, people may be disentitled to basic state benefits in their native country and left on their own financially.
"It has to do with the fact that once you expatriate and emigrate, you’re pioneering when it comes to really looking after yourself financially speaking for today, tomorrow and all your tomorrows abroad," the site commented.
For those considering a move abroad, a key consideration should be whether they can manage without the kind of state support available in their home country, as falling ill or suffering a loss of earnings could have a dramatic effect on their expat dreams if they do not have savings to fall back on.
Meanwhile, for those concerned about the costs of healthcare overseas, taking out an expat health insurance policy may provide reassurance and protection in the event of illness or injury.
In a separate report, the site has pointed to the care restrictions imposed within the Spanish healthcare system as an example of the importance of expat medical insurance for foreigners.
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