5 Obstacles to Effective Expat Retirement Planning
Submitted by Creveling & Creveling Private Wealth Advisory on October 24th, 2016By Chad Creveling, CFA, and Peggy Creveling, CFA
It's not news that we're facing a retirement crisis. According to a retirement security report by the U.S. Government Accountability Agency, "About half of (U.S.) households age 55 and older have no retirement savings (such as in a 401(k) plan or an IRA)…Many older households without retirement savings have few other resources, such as a defined benefit (DB) plan or nonretirement savings, to draw on in retirement." A number of structural issues—a shift away from corporate pensions, spiraling health care costs, lack of job stability, greater longevity, and the demise of the nuclear family—have contributed to the coming crisis.