Lazing on a palm fringed beach lapped by warm tropical seas in the Philippines is the last place expats want to think about financial planning.
Cash goes a long way in one of the world’s cheapest rated capital cities.
According to cost of living index Expatistan, compared with the UK, living in Manila is much cheaper.
Almost everything costs less – such as food (-46%), housing (-27%), clothing (-25%) and transport (-60%).
Overall, day-to-day living in The Philippines is 42% than in Britain.
But along with suit cases, the average expat retiring or stopping over in the Philippines takes some other financial baggage.
At some time, that blue sky will cloud over and thoughts will have to turn to health cover, life insurance, school fees for children, pensions and estate planning.
The need depends a lot on the age of an expat and their family.
The Philippines is a favourite haunt of hard working and hard playing oil and mining expats who earn their money in the richer economies of the Middle East, such as Qatar and Kuwait or in China.
For these globally mobile workers, the Philippines is a cheap base and drop-in centre for R&R.
They still need to think about looking after their health and wealth.
Money may go further, but that spending power needs sustaining for retirees, who need to look at investing their cash wisely and making plans to pass on what they have left to their families and loved ones.
They also need adequate health care to make sure they are well looked after in their later years.
For younger expats still on their travels, a pension is often a good investment option.
British expats or international workers with UK pension rights can think about a tax-effective Qualifying Recognised Overseas Pension Scheme (QROPS).
Other financial items high on the agenda should be cash savings for that rainy day in paradise, comprehensive health care and maybe a mortgage if they know where they will finally settle down.
Expats should think carefully about sinking their wealth into local financial firms as an international wealth management firm offers broader horizons and national tax incentivised products do not extend to non-residents.
Another advantage is as an expat shifts base, a global wealth manager should always have someone local to turn to, so no costly financial upheaval is involved in switching investments and assets across borders.