Retirement Planning
Having a retirement strategy in place helps you take control of your finances and build towards the future you want
Speak with a local ExpertRetirement Planning in Saudi Arabia: Navigating the Complexities as an Expat
Holborn Assets, a leading, multi-award-winning financial services firm, specialises in retirement planning for expatriates. We are the first and only Western financial advisory company to have been granted a full regulatory licence from KSA’s Ministry of Investment and are therefore in a unique position to help expats living in Saudi with their Retirement Planning needs. Our comprehensive range of retirement solutions, coupled with our professional advice and support, assists our clients in achieving their financial aspirations.
As a truly international entity, we serve over 20,000 clients across 18 countries, spanning five continents. Our office and team in Saudi Arabia ensures that we are attuned to the unique financial needs and cultural nuances of our clients in the Kingdom. We manage over $2 billion in assets under management (AUM), we have earned our clients’ trust in making sound financial decisions.
Begin your journey with Holborn Assets today and pave the way for a financially secure future.
Understanding Retirement Planning
Research by the Money & Pension Service indicates a worrying trend: a significant number of individuals are approaching retirement without adequate financial preparation. Over a third of those aged 50 and above delay retirement planning until the last two years of their working life. Furthermore, 69% of those over 50 have done minimal planning for their retirement finances, with only 7% feeling fully financially prepared.
In today’s world, where living costs are continually rising, retirement planning has become more crucial than ever. It involves setting retirement goals and outlining the necessary steps to achieve them, essentially serving as a roadmap to a financially secure post-work life.
A Tailored Approach to Retirement Planning
Retirement planning is not a one-size-fits-all affair. Individual needs, goals, and circumstances significantly influence how one approaches retirement planning. High-net-worth individuals (HNWIs), for instance, often prioritise tax-efficient strategies to safeguard their wealth. Similarly, professionals like medical practitioners or pilots may require specialized retirement advice due to the unique nature of their careers.
Estimating Retirement Costs
Determining the exact amount needed for retirement is complex and varies based on numerous factors. According to the Pension and Lifetime Savings Association (PLSA), 77% of people are unsure about the required retirement savings, and only 20% are confident they are saving sufficiently. Speaking to one of our experts in Saudi Arabia could help you ensure you’ve saved enough for when you stop working.
How to plan your Retirement
While the future is unpredictable, a well-crafted retirement plan can prepare you for what lies ahead. Whether you aim for early retirement or a gradual transition, having a plan is crucial in securing the future you desire.
Retirement Planning for Women, Couples, and Parents
Women often face a pension gap, which can lead to financial difficulties in retirement. Research by the Chartered Insurance Institute (CII) shows that women typically retire with 80% less money than men. However, with the right strategy and guidance, building retirement wealth is achievable for women.
For parents and couples, retirement planning takes on additional dimensions. Parents must consider their family’s needs, while couples need to harmonize their individual plans. Questions like simultaneous retirement and the integration of both plans are vital for couples to address.
How to plan your Retirement
Expertise in Local and International Laws
Holborn Assets, a leading, multi-award-winning financial services firm, has a long history of providing expats specialist and sound financial advice. With over 25 years of financial planning in the region and as the first and only Western financial advisory company to have been granted a full regulatory licence in Saudi, we the perfect option for expats wanting to protect their estates and preserve their wealth, whiling living abroad.
Speak to our qualified and regulated Saudi based team who are well-versed in both Saudi and international laws. This dual expertise is essential for creating retirement plans that are effective in Saudi Arabia while also respecting the laws of your home country.
Personalized Retirement Planning Solutions
Retirement marks a significant phase in life, and planning for it is key to enjoying your later years in financial comfort. At Holborn Assets, we are committed to guiding you through every step of your retirement planning journey, offering expert, independent advice tailored to your unique needs and goals.
Creating Passive Income for Retirement
Passive income streams, requiring minimal active involvement, can bolster financial stability and augment pension income. These can include property investments, stocks and bonds, savings accounts, and annuities. Diversifying your investment portfolio is crucial to mitigate risks.
The Advantage of Early Planning
Aiming for a retirement fund of $1 million is a common goal. Based on the Retirement Living Standards report, a comfortable retirement for couples requires about $55,000 annually. Given an average retirement span of 20 years, this translates to a need for a pension pot of approximately $1,100,000. Remember, retirement costs vary for each individual, but early planning can make achieving such goals more feasible.
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