Couples who worked overseas before settling down. How do you managed the finances? Were financial goals delayed and also timeline to delayed?

Working abroad often comes with higher income. I have had clients who worked overseas and had kids concurrently, so it is not impossible.

Financial goals are not delayed, in fact, most of them have expedited their financial income growth by heading abroad and they often hit their financial goals way faster than those who choose to stay in Singapore with limited exposure.

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Hi there,

Working overseas is definitely a good opportunity, and should not be passed over given a choice.

Managing your finances overseas will be tighter, as you will have slightly higher fixed expenses, not unless your employment provides you with a housing stipend. Depending on your country you are working in, the cost of living will also factor in, as you might not be able to save much. (Taxation, Consumer goods)

Having to transition back to Singapore, the years you are away, with no CPF contribution, will definitely set you back a few years. The caveat is that, you might be able to command a higher salary at this point now, to mitigate the time lost. However due to the time value of money, and the compounding effect, you will definitely need to plan your finances better moving forward.

Hope I was able to shed some insight!