THE BIGGEST FINANCIAL HEADACHES FOR PEOPLE LIVING IN EMERGING MARKETS
(Quick note: this article originally appeared on adamfayed.com)in
About 50% of my clients are either expats living in emerging markets, or locals based in Latin America, Africa or “Emerging Europe”.
Whilst we all know that emerging markets are fast growing, there are several challenges facing people living in these locations in terms of their finances.
The biggest ones are:
- A lack of investment choice given by local banks
- A desire to get money out of the country into USD or sometimes Euro-based investments, due to fluctuating currencies
- An emerging middle-class and more higher earners that are looking to invest for very specific reasons such as children’s education, retirement or another reason
- A desire to have lower-cost and online-based solutions, which still utilize a human relationship unlike generic and high-cost banking products.
- Worries about the political situation domestically. For example, the election of populists (Mexican, Brazil and some other countries) and other political issues.
- Sometimes inheritance planning.
- Wealth protection due to the expensive nature of world-class medical facilities
Have any of these headaches yourself? Contact me today! Adamfayed@hotmail.co.uk and firstname.lastname@example.org