A very interesting expat perspective

[brightonbee]

I found this article in The Daily Telegraph.

 

 

Ever since the beginning of the financial crisis, the press has been full of stories of expats being made homeless, forced to sleep on the streets, of pensioners "trapped" in a country they would leave if only they could, of expat businesses going bust on a daily basis.

 

Even those who have been sent abroad by their companies are fearful for their futures; distanced from their head office and the ability to play the necessary corporate politics, they feel removed from the real decision-making and are simply waiting for the redundancy notice to come through the letterbox.

 

Without a doubt the worldwide economic slowdown has contributed significantly to expats' woes, in many cases through little fault of their own. I know a couple who were doing very well in the expat lifestyle, both wife and husband having nice new expat careers and enjoying the work-to-life balance that so many find impossible to achieve in the UK.

 

Then all of a sudden their security net was whipped away, when they lost the tenant in their UK property (essentially their nest egg) and the much-needed rent to cover the mortgage. Without this, they were forced back to the UK to secure an income to pay the mortgage. I say "they", but unfortunately the husband has stayed working away, sleeping on friends' sofas as his work is more in demand in Spain than in the UK: not how they envisaged spending their semi-retirement years!

 

But is it the recession? Another friend opted for the expat lifestyle several years ago with their wife, to enjoy their retirement. They invested in a business for their daughter so she could live close to them and share their adopted country. Of course, she fell in love and moved back to the UK. My friend is left running the business, and because of the current climate, is working twice as hard as he ever did in his prime for about 20 per cent of his former income. As if that wasn't enough, the daughter has now produced grandchildren, so his wife is spending month on end back in the UK with the family, leaving him stranded abroad running a business he doesn't want but can't get rid of.When I think about this kind of story, I struggle to blame the current financial situation. Yes, it has contributed, but to allocate it sole responsibility I feel misses the point. Even before the crisis hit many an expat figured out the hard way that living abroad wasn't for them. I have seen many return home having blown the cash from a property sale on a 12-month long party; I have seen many expat golfers reluctantly pack up their clubs and head home under orders from a wife that just couldn't handle being a golf widow in a foreign country; and an unbelievable amount return back home because grandchildren have appeared on the scene.

You see, the events affecting expats are often no different than those affecting the rest of the world. The challenges of making a living, sustaining relationships and dealing with the odd crisis are all the same. So if you haven't planned your move carefully, and made provision for trouble, it's no wonder you'll find yourself in a sticky siutation.

One of the main problems, I think, is that too many expats feel that their move abroad is permanent. The probability is that you will return home: the career move that brought you over will take you away as you progress up the slippery pole, illness in old age or an ageing parent will force you home. If you simply accept that living abroad is a temporary thing, life as an expat shouldn't be too hard.

So why do expats insist on establishing so many roots, of replicating what they had at home? Why buy a property and tie up you cash when you can rent and remain flexible? Why buy a business when you might not always want to be running it? Why put all your eggs in one basket, have no Plan B, assume that life won't change for the worse?

I have sympathy of course for those that are struggling, but I'm afraid it is limited. I have simply seen too many expats make life as an expat far harder than it needs to

[Petals]

Sorry, do not see the point of this article. Surely if we are grown up and have a lot of working life under our belt we must be a bit street wise. There are always going to be people who get themselves in a mess financially but that has nothing to do with moving countries, towns or counties. Its all about our nature and what we are like. I have friends who are always at the solicitors, why because they do not do their homework, trust people when they should be more wary etc etc I could go on and on.

 

Guess it was a slow news day for the Telegraph.

[Perthbum]

I found this article in The Daily Telegraph.

 

 

Ever since the beginning of the financial crisis, the press has been full of stories of expats being made homeless, forced to sleep on the streets, of pensioners "trapped" in a country they would leave if only they could, of expat businesses going bust on a daily basis.

 

Even those who have been sent abroad by their companies are fearful for their futures; distanced from their head office and the ability to play the necessary corporate politics, they feel removed from the real decision-making and are simply waiting for the redundancy notice to come through the letterbox.

 

Without a doubt the worldwide economic slowdown has contributed significantly to expats' woes, in many cases through little fault of their own. I know a couple who were doing very well in the expat lifestyle, both wife and husband having nice new expat careers and enjoying the work-to-life balance that so many find impossible to achieve in the UK.

 

Then all of a sudden their security net was whipped away, when they lost the tenant in their UK property (essentially their nest egg) and the much-needed rent to cover the mortgage. Without this, they were forced back to the UK to secure an income to pay the mortgage. I say "they", but unfortunately the husband has stayed working away, sleeping on friends' sofas as his work is more in demand in Spain than in the UK: not how they envisaged spending their semi-retirement years!

 

But is it the recession? Another friend opted for the expat lifestyle several years ago with their wife, to enjoy their retirement. They invested in a business for their daughter so she could live close to them and share their adopted country. Of course, she fell in love and moved back to the UK. My friend is left running the business, and because of the current climate, is working twice as hard as he ever did in his prime for about 20 per cent of his former income. As if that wasn't enough, the daughter has now produced grandchildren, so his wife is spending month on end back in the UK with the family, leaving him stranded abroad running a business he doesn't want but can't get rid of.When I think about this kind of story, I struggle to blame the current financial situation. Yes, it has contributed, but to allocate it sole responsibility I feel misses the point. Even before the crisis hit many an expat figured out the hard way that living abroad wasn't for them. I have seen many return home having blown the cash from a property sale on a 12-month long party; I have seen many expat golfers reluctantly pack up their clubs and head home under orders from a wife that just couldn't handle being a golf widow in a foreign country; and an unbelievable amount return back home because grandchildren have appeared on the scene.

You see, the events affecting expats are often no different than those affecting the rest of the world. The challenges of making a living, sustaining relationships and dealing with the odd crisis are all the same. So if you haven't planned your move carefully, and made provision for trouble, it's no wonder you'll find yourself in a sticky siutation.

One of the main problems, I think, is that too many expats feel that their move abroad is permanent. The probability is that you will return home: the career move that brought you over will take you away as you progress up the slippery pole, illness in old age or an ageing parent will force you home. If you simply accept that living abroad is a temporary thing, life as an expat shouldn't be too hard.

So why do expats insist on establishing so many roots, of replicating what they had at home? Why buy a property and tie up you cash when you can rent and remain flexible? Why buy a business when you might not always want to be running it? Why put all your eggs in one basket, have no Plan B, assume that life won't change for the worse?

I have sympathy of course for those that are struggling, but I'm afraid it is limited. I have simply seen too many expats make life as an expat far harder than it needs to

God thread, and I agree with all of it.

[Guest The Ropey HOFF]

Sounds like a crock of old poo to me, most of those who come back never intended on staying in the first place.

[brightonbee]

Sorry, do not see the point of this article. Surely if we are grown up and have a lot of working life under our belt we must be a bit street wise. There are always going to be people who get themselves in a mess financially but that has nothing to do with moving countries, towns or counties. Its all about our nature and what we are like. I have friends who are always at the solicitors, why because they do not do their homework, trust people when they should be more wary etc etc I could go on and on.

 

Guess it was a slow news day for the Telegraph.

 

I interpreted the article to mean that it is not always a good thing to burn all your bridges especially in a time when there is so much economic uncertainty. It is a view and I think he/she is suggesting that if we curb our expectations , then we will be more content. I think too that people run away from their problems expecting them to be solved just by adopting a new lifestyle when in fact you cant run away from yourself

[Guest Andy]

I found this article in The Daily Telegraph.

 

 

Ever since the beginning of the financial crisis, the press has been full of stories of expats being made homeless, forced to sleep on the streets, of pensioners "trapped" in a country they would leave if only they could, of expat businesses going bust on a daily basis.

 

Even those who have been sent abroad by their companies are fearful for their futures; distanced from their head office and the ability to play the necessary corporate politics, they feel removed from the real decision-making and are simply waiting for the redundancy notice to come through the letterbox.

 

Without a doubt the worldwide economic slowdown has contributed significantly to expats' woes, in many cases through little fault of their own. I know a couple who were doing very well in the expat lifestyle, both wife and husband having nice new expat careers and enjoying the work-to-life balance that so many find impossible to achieve in the UK.

 

Then all of a sudden their security net was whipped away, when they lost the tenant in their UK property (essentially their nest egg) and the much-needed rent to cover the mortgage. Without this, they were forced back to the UK to secure an income to pay the mortgage. I say "they", but unfortunately the husband has stayed working away, sleeping on friends' sofas as his work is more in demand in Spain than in the UK: not how they envisaged spending their semi-retirement years!

 

But is it the recession? Another friend opted for the expat lifestyle several years ago with their wife, to enjoy their retirement. They invested in a business for their daughter so she could live close to them and share their adopted country. Of course, she fell in love and moved back to the UK. My friend is left running the business, and because of the current climate, is working twice as hard as he ever did in his prime for about 20 per cent of his former income. As if that wasn't enough, the daughter has now produced grandchildren, so his wife is spending month on end back in the UK with the family, leaving him stranded abroad running a business he doesn't want but can't get rid of.When I think about this kind of story, I struggle to blame the current financial situation. Yes, it has contributed, but to allocate it sole responsibility I feel misses the point. Even before the crisis hit many an expat figured out the hard way that living abroad wasn't for them. I have seen many return home having blown the cash from a property sale on a 12-month long party; I have seen many expat golfers reluctantly pack up their clubs and head home under orders from a wife that just couldn't handle being a golf widow in a foreign country; and an unbelievable amount return back home because grandchildren have appeared on the scene.

You see, the events affecting expats are often no different than those affecting the rest of the world. The challenges of making a living, sustaining relationships and dealing with the odd crisis are all the same. So if you haven't planned your move carefully, and made provision for trouble, it's no wonder you'll find yourself in a sticky siutation.

One of the main problems, I think, is that too many expats feel that their move abroad is permanent. The probability is that you will return home: the career move that brought you over will take you away as you progress up the slippery pole, illness in old age or an ageing parent will force you home. If you simply accept that living abroad is a temporary thing, life as an expat shouldn't be too hard.

So why do expats insist on establishing so many roots, of replicating what they had at home? Why buy a property and tie up you cash when you can rent and remain flexible? Why buy a business when you might not always want to be running it? Why put all your eggs in one basket, have no Plan B, assume that life won't change for the worse?

I have sympathy of course for those that are struggling, but I'm afraid it is limited. I have simply seen too many expats make life as an expat far harder than it needs to

You ask why buy a property and tie up your cash when you can rent yet one of the examples of someone making a hash of it all is the fact that they did rent out their property in the UK and it went **** up when they lost their tenant, also the examples you have given or the article has given are really of people who just made bad choices or judgments and are maybe not committed in the first place and if that is the case it will never work, i agree with petals and cant really see the point of the article.

[Guest roaminnomore]

Could you explain specifically why you have posted? I am not sure what attracted you to this post (your intention); has something happened to prompt you? Ley

[Fox]

Once again the luddites of the British Press spread doom and gloom.

[sussex boy]

The british press, how I really dont miss them.

[Guest]

why it was posted I dont care, why half the posts such as is Australia crap or what should I take have no value either but its a forum to waste a bit of time shooting sh*t isnt it?

 

Good points on all sides I think, i can only say from my own perspective Ive seen it all before having grown up an expat and still am at my old age.

 

I dont want to stay in Oz forever and i also believe WA will go bust in a few years as it has done before due to having all its eggs in 1 basket - infact the whole of Oz does.

However I must say that I dont believe there is a global recession going on and its only europe and the states that are in the poo

 

Russia, Asia, Australaisia, Parts of Africa are doing great and are booming. For eg I'm in an ex russian state now and believe me every other shop is prada, the women walk about with pouted lips after collogen injections and the most common car I'd say is a Range Rover or Porsh Cayene - There's a lot of oil here and demand for Oil even in a ressesion is massive and it will only get more if Europe gets out of their situation.

 

However i doubt the states and Europe will sort themselves or get back to where they were, they just had their time thats all. Its now the time for the rising of Asia - India, China etc...

The west have too many rules and regulations to be able to compete.

[brightonbee]

Could you explain specifically why you have posted? I am not sure what attracted you to this post (your intention); has something happened to prompt you? Ley

 

 

The intention - information, as stated in the thread introduction ' an interesting perspective'