[PECJ]

We are going to move out in about 18 months time and like many others have a complicated financial situation (will be receiving UK pension, wife has UK pension fund, property which I would like to leave rented out in UK, investment etc etc).

Does anyone know (or used would be better) of a good IFFA/Tax advisor that has experience with people moving out to NZ.

Many thanks in anticipation.

Peter J

[David with a dream]

Hi Peter,

We had a 'not so good' experience with a IFA from NZ. They where as nice as pie until we asked for a refund of the fee paid up front. The one bit of advise that really sticks out was about our mortgage. I have always thought that paying your mortgage off as quickly as possible is a 'given'. Not according to these guy's. That did worry us.
All I can say is be careful who you take advise from, get recomendations and do check out these guys.
Good luck with the move. David :nice1

[Avalon]

I have always thought that paying your mortgage off as quickly as possible is a 'given'. Not according to these guy's. That did worry us.


I actually heard a rather good explanation of this the other day from the ASB advisor. I had always thought that getting the mortgage off your back was to be our first priority, and for many people it may still be the best option - so I wouldnt discount it out of hand. That really depends as far as I can see on your personal circumstances, finaces, and how good you are with money.

however - where the advisors are coming from is that if you pay off your mortgage - and ONLY do that - you still have no savings with which to live on, so you still have to work to earn an income. Whereas if you were to save / invest at the same time as overpaying a bit on your mortgage - you get rid of the debt earlier (and save money on interest charges) BUT you also have money set aside that you can now live on (or investamnest that generate an income). Thats the idea anyway! ;)

PECJ, I havent come accross a IFA as such which does what you need, but I second David's advise to be careful. Both advisors I have used I have pretty much chosen by "Gut Instinct" and whether or not they were pushy, or treated me like an idiot. We have been using a company called "Wise Planning" based in Christchurch, but we are doing a financial coaching course with them rather than getting just our financial planning from them - so its a bit expensive. It was just what we needed next though - but I am aware that they are NOT geared up for the specifics of emigrating. Im sorry that doesnt help much