Thinking about retirement as an expat? Before focusing on how much money you need, ask yourself what kind of life you want. Learn how lifestyle-driven planning leads to better financial outcomes.
Why “How Much Is Enough?” Might Be the Wrong First Question
When it comes to retirement planning, many people, especially high-net-worth individuals and expatriates, default to a maximalist approach: the more money you can save, the better. While it’s great to aim high, this strategy often leads to uncertainty and stress, especially when it feels like you never have “enough.”
But here’s the truth: retirement isn’t a one-size-fits-all goal.
At Blacktower Financial Management, we encourage clients to ask a more personal—and arguably more important—question first:
“What kind of life do I want to live in retirement?”
Once you define that vision, the numbers start to make a lot more sense.
Lifestyle First: What Does Retirement Look Like for You?
Retirement means different things to different people, and for expats, the range of possibilities is even greater.
Whether you’re a British expat in Asia, a U.S. citizen in Europe, or a globally mobile family, you may be thinking about retiring somewhere entirely new. That adds complexity—but also opportunity.
Here are some key questions to help shape your vision:
- Where will you live? Will you buy property, rent, or downsize? One country or multiple homes?
- What will your days look like? Think about hobbies, family time, volunteering, or part-time consulting.
- How much travel will you do? Seasonal stays, weekend getaways, or long-haul adventures?
- Will you continue to work in any form? Many retirees like to keep some income flowing.
- Do you need proximity to family, schools, or healthcare?
By defining your ideal retirement lifestyle in specific, practical terms, you create a foundation for more accurate and meaningful financial planning.
Turning Lifestyle Into Financial Goals
Once you’ve clarified what retirement should look like, the next step is translating lifestyle goals into financial targets.
Think about:
- One-off costs: Purchasing a holiday home, relocating overseas, gifting money to family
- Ad-hoc large expenses: Milestone trips, replacing vehicles, health procedures
- Ongoing regular expenses: Utilities, groceries, memberships, travel budget, healthcare plans
Then consider retirement length. If you retire at 60, your plan might need to fund 30+ years of living expenses. Don’t forget inflation—rising prices could erode your purchasing power significantly over time.
Expats: Add Currency and Tax to the Mix
Living abroad introduces additional risks and considerations:
- Currency risk: If your assets are in USD or GBP but your lifestyle is in EUR or AED, you need to plan for exchange rate fluctuations.
- Tax residency rules: These vary by country and may impact whether your pension income is taxed once, twice, or not at all.
- Cross-border pensions: Will you draw from a SIPP, 401(k), QROPS, or a foreign pension scheme?
- Access to healthcare: In some countries, non-residents must pay private healthcare fees.
At Blacktower, our cross-border advisers help clients balance these variables—protecting income, minimising tax exposure, and building currency-smart investment plans.
Technology That Brings Retirement Planning to Life
Modern financial planning tools make it easier than ever to track your progress, especially across multiple currencies and jurisdictions.
At Blacktower, our client-facing technology can help you:
- Track net worth across global accounts
- Monitor your retirement readiness in real time
- Run inflation, tax, and currency simulations
- Adjust your plan for life changes
This visibility transforms abstract savings goals into a personalised roadmap, giving you more confidence in your financial decisions.
A Real-Life Example: Retirement in Two Countries
Take Mark and Helen, a British couple living in Dubai, now planning to retire by 60 and split their time between the UK and southern Spain.
Their dream?
🚆 Explore Europe by train
🏠 Maintain two homes
🧒 Contribute to grandkids’ school fees
✈️ Enjoy generous travel budgets
❤️ Volunteer in the local community
Using Blacktower’s planning tools, we:
- Modelled the cost of dual residency
- Planned for healthcare as non-residents
- Factored in inflation, travel, gifting, and FX risk
- Aligned income streams from pensions, investments, and rental property
The result was a realistic, dynamic retirement plan, based on the life they want—not arbitrary savings targets. And when their priorities shift, the plan is flexible enough to adapt.
Your Retirement. Your Way.
The most effective retirement plans don’t start with spreadsheets—they start with vision.
By clarifying your ideal lifestyle first, you gain direction. That lifestyle becomes the blueprint for setting targets, choosing investment strategies, and deciding when (and where) to draw income.
At Blacktower Financial Management, we specialise in helping expats and internationally mobile individuals create tailored retirement strategies that align with real life—not just financial theory.
Whether your dream retirement involves beaches, mountains, multiple residencies, or family time across borders, our advisers are here to help you get the numbers right.
📞 Ready to build a retirement plan around your ideal lifestyle?
Contact Blacktower today to speak with a cross-border retirement adviser.
Disclaimer: This content is for informational purposes only. Investment advice and investment advisory services offered and provided through Blacktower Financial Management US, LLC. This communication is for informational purposes only based on our understanding of current legislation and practices which are subject to change and are not intended to constitute, and should not be construed as, investment advice, tax advice, tax recommendations, investment recommendations or investment research. You should seek advice from a professional before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
Investment advice and investment advisory services offered and provided through Blacktower Financial Management US, LLC. This communication is for informational purposes only based on our understanding of current legislation and practices which are subject to change and are not intended to constitute, and should not be construed as, investment advice, tax advice, tax recommendations, investment recommendations or investment research. You should seek advice from a professional before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.