If you are French or Canadian, you are raised to expect the government to provide for your minimum standard of living in later years; of course, you can sweeten your old days by saving and investing along the way. You usually pay a lot of taxes, but the social pact is that you’ll have your basic needs covered when you reach retirement.

Meanwhile, if you are Americans or Malaysian, you know you have to save for their retirement as your country does not guarantee you with a defined income upon retirement – civil servant being a notable exception. Your government do help you with compulsory schemes like the 401K or the EPF, and other tax incentives on saving accounts and other investment platforms, which end up lowering the level of tax you pay to your government. But in the end you can only rely on yourself to continue living a decent life once retired.

Once you become an expatriate, whether you come from a social thinking country like France or Canada, or a more liberal one like the US or Malaysia, you are faced with a tough decision to make: How shall you prepare for your retirement now that you are abroad? Do you continue your social scheme back home – if you have the opportunity ? Do you take your 401K or QROPS abroad with you ? Where will your saving and investment plan be located – back home? in your new country? somewhere else?

Difficult questions for sure. Many do shy away from them, and end up having to start from scratch a few years later. So the incentive really is in taking the bull by the horn and asking you those tough questions. The good news is that your scope of opportunity is wider, and you can build your stash faster as a result. It certainly is more work and less comfortable – especially for French or Canadian – but it also is more rewarding !