Expat Advice: Financial Issues in Cambridge, UK
What is the name of the city or town that you are reporting on?
Cambridge
What sort of challenges or frustrations have you encountered as an investor living overseas? Please describe.
I've not had any problems buying property here in England. In fact I've been very surprised at the amount the banks & building societies will loan me for a mortgage. I never would have qualified for nearly as much back in the States. I know this because I'd owned 4 houses in Ohio, Florida and South Dakota, and it was always much more difficult getting loan approval there, even with Veteran's Assistance.
What advice was particularly helpful to you in managing your finances? What advice would you give? Any other thoughts?
I have had no problems investing from afar in American-based goods, properties and equities. I've got several IRAs, all with different American investment firms and even before I was able to do business with them on the Internet, which has really streamlined the process, I was able to do all my business either by mail or phone with very little hassle, no matter where I was. I did feel that I lost out on the latest market trends before Internet service, but I don't feel I missed out on too much back then.
What advice could you offer others about doing your taxes as an expat?
Diversify. And invest according to your age & the risk you're willing to take. As you get older, go for the more conservative investments as we don't have as much time to wait for the markets to come back. Once you're retired, get out of the risk investments and stay in something that will give you a stable income each month.
Additional Information:
- Expat Guide to Cambridge
- Public Transportation in Cambridge
- Retire in Cambridge Guide
- Best Markets in Cambridge
- 7 Tips for Living in Cambridge
- Pros & Cons of Living in Cambridge
- Cost of Living in Cambridge
- Health Care in Cambridge
- The Insider's Guide to Cambridge
- 5 Tips for Living in Cambridge, England
- Healthcare & Health Insurance in UK
- Best Places to Live in UK
- Real Estate in UK
- Pros & Cons of Living in UK
- How to Get a Driver's License in England
- What It's Like Living in Cambridge
- Pros and Cons of Living in UK 2024