Could international money transfers help with retirement planning?

International money transfers could help Britons who are considering retiring overseas.

According to Rhiannon Davies, director of the property investment and overseas living website Shelter Offshore, it is never too early to start planning an overseas retirement.

However, she advised that the "number one thing to get right" are finances.

"Therefore consideration should be given to affording the move and affording ongoing living/healthcare and property costs."

International money transfers could be one way of keeping down the cost of retiring overseas by avoiding high fees often imposed by banks for sending money abroad.

Furthermore, individuals are likely to benefit from a more competitive rate of currency exchange.

A recent survey conducted by sunshine.co.uk suggested that an increasing number of Britons are considering moving abroad.

The increase in VAT has prompted 12 per cent to consider living overseas in order to seek out a home with a lower cost of living.

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Posted by Eleanor Ward