Everyone cruises through life happily believing they have enough money to live well in retirement, but then something crops up and really you need some more.
This is common for expats and retirees in Thailand, who can happily get by on their incomes or pensions because the lifestyle and cost of living are so cheap.
Then along comes the chance of a bigger, better house, car or boat and you just need a little extra cash.
And so life goes on. You can either grasp the opportunity because you have sensibly looked after your finances or you have to let your dream pass by.
Whether you live in busy Bangkok or an island beach backwater, as an expat financial planning is a necessity, especially if you are approaching or in retirement.
Savings and investments are important however old you are.
You need private medical cover to look after your health, especially as you are more likely to need extra care the older you are.
You might also have to want to contribute to private school fees for children or grandchildren and put money aside for continuing studies at university.
Many expats also hunt for mortgages to buy investment property back in the UK.
Then comes the big one – saving for a pension.
Most expats living a comfortable life do not realise they could be significantly better off by switching their British onshore pension with a Qualifying Recognised Overseas Pension Scheme (QROPS).
100% QROPS drawdown
Thailand QROPS are generally available from several financial centres for expats in Bangkok and the rest of Thailand although the country has no local provider.
Money advice from a specialist professional can boost expat finances in many ways.
Switching a UK pension to a QROPS paying out in US dollars increases expat spending power as the dollar is a much stronger currency than the Thai baht.
A pension specialist can also help with accessing the new UK pension freedoms with a QROPS based in the European Union which allows 100% draw down or regular cash withdrawals, as long as the provider is set up to exploit the new rules.