If you’ve retired to Australia, you’ll be aware of all the many attractions that the country presents to pensioners. From the climate and outdoor lifestyle to the chance to reconnect with family who have already moved overseas, there are plenty of reasons to start anew in Australia. To make the most of your time, it’s worth taking the time to organise your finances so that you can sit back and enjoy the next phase in your life.
Property at home and away
If you are selling a UK property to finance your new life down under, working with a currency specialist can ensure that you make the most of the proceeds of the sale. If you’ve decided to hold on to the property, whether because it’s a good investment or you think you may consider returning to the UK at some point, then renting out the property can be a way to make an income while you’re retired. If you are renting out a property in the UK, you can set up a Regular Payments Plan which automatically collects any UK income and exchanges it for Australian dollars. You can specify the amount of sterling you’re sending, the amount of Australian dollars you will receive or you can opt to fix the rate and be certain of both. This can keep the home fires burning and ensures you’re not spending your retirement organising currency transfers.
UK Pension Payments in Australia
If you’ve worked in the UK all your life, you are still entitled to a state pension, even if you move abroad. In addition, you may have a private or company pension which is paid in sterling. You can choose to transfer to an Australian pension fund for private and some company pensions, but another way to manage this is to use currency tools to transfer the funds you receive. As with rental income, you can set up an automated Regular Payments Plan. In addition, if you’re anticipating a lump sum or simply want to make the most of your money each month, a currency specialist can provide guidance on the current activity of the market. In addition, a specialist can provide support in the use of a range of currency tools which help you target, track and even fix exchange rates to help you organise your budget.
Take control of your money in retirement
We know that the fixed income of a pension can sometimes mean that budgets are tight – but there are ways that you can make the most of your hard-earned money. Using a foreign exchange specialist rather than your high street bank to convert your pounds into dollars could make a significant difference to the amount of dollars that arrive in your account. Some currency tools can cut through the red tape and leave you with more time to enjoy your new life. It’s worth learning more about the currency exchange market and how a specialist provider can help you so that you can stretch your pension as far as possible. An easy-to-understand, reliable service which offers you value and convenience also means more time for you to enjoy the golden years you’ve worked so hard for.