Expat Wealth Guide: Part One

 

Part One: The Checklist

This video explains why I put the Expat Wealth Guide together and how the checklists are designed to ignite productive discussion around your personal finances and your future goals.

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Video Transcript:

Thank you downloading the Expat Wealth Checklist

If you are looking for this kind of material and you are watching this, then you are obviously serious about wanting to take steps towards building your wealth.

Hi - my name is Max Keeling and I am the founder of Ignite Expat Wealth, and since 2016 I’ve being trying to motivate expats to get their money working harder for them, identify and set some ambitious lifestyle goals, and make sure they avoid the common pitfalls of using commission- based sales people in Asia.

This guide is based on my experiences of working with expats across the region and addresses the common concern – where do I start?

Whether you’ve got $100k or $10m – this guide will give you a solid grounding and highlight your weaknesses.

A key message of the guide is ‘keep it simple’ – I often find people try to over complicate their finances, or financial advisors and the financial services industry convince us that we need complex products.  For the majority of people this just isn’t the case.

So let’s get into the guide.

You’ve got this far – so go and print it off and actually do the exercises – the more effort you put in the more you will get out of it.

Firstly, it covers the Vision for your life – this is the most important part of wealth building, and you shouldn’t be investing another dollar until you have a solid foundation in this section.

This is often this area is the biggest weakness in peoples plans, because you are so busy working to accumulate and living your life in the now, that’s its rare people take some time out to do meaningful vision work.

Next the guide looks at your current financial state, and how good you are at housekeeping.  These can often be mental drainers for many expats – and its amazing how much better you can feel by just spending some time to log what you actually have.

Thirdly we cover investments – and specifically rental properties and stock market investments, to see whether these are really optimized.

If you are already working with an expat advisor it will test your real understanding of what you’ve signed up to, and unfortunately in many cases it will force you to confront some home truths that you aren’t sure what you are invested in, and maybe it wasn’t your smartest move.

Don’t get bogged down in that – just be truthful with yourself and log it on the checklist for now.

Finally, the guide gets you to consider 4 wealth levers – any one of these can have a dramatic impact on your wealth building ability, but similar to the vision plan in section 1, few people regularly take some time out to review these.

So that’s your first homework task – go and print off and commit 30 minutes to an hour this week to work through the checklist.

Obviously, this list isn’t exhaustive and can’t cover everyone circumstances, but can give you a good base.

If you want me to review your completed checklist or want some more targeted advice, then email me at max@igniteexpatwealth.com

Look out for the next video which will cover the importance of turning this checklist into a powerful plan.