Basically, financial planning is all about working out what assets you currently hold and then deciding how the value of those assets should best be invested in order to give effect to your personal investment targets.
Financial planning arrangements are well beyond the scope of this book but the important thing we need to stress here is that, if you’re becoming involved with Turkey, this is a great opportunity (and reminder) to carry out a thorough fact finding mission and to make a thorough financial/investment plan. This might be a revision to your existing plan or, all too often, it is the first time that our new clients have made such a plan.
It is very likely that the investments that you hold at the moment, bought for all sorts of reasons and at a time when you were resident in another country, will no longer be suitable to your needs. Or (at the very least) that there will be better opportunities available to you in your new circumstances.
Unfortunately, there is a great temptation when you’re involved with all the issues associated with moving to a new country to acknowledge that you need to do this but then put it on the back burner. That is a mistake. When you’re moving country, some of your best investment and financial planning opportunities arise once only and at the time when you’re making your move. These opportunities can disappear completely once you have made your move to Turkey. It is, therefore, a good idea – however busy you are – to devote a little bit of time to this now.