Retirement is an important topic to many of us. It can also be a complicated one. These complications stem from multiple sources: inflation, our increasing life expectancies, financial downturns, the increasing likelihood that we might outlive our resources, among others.
For expats living in Spain, there are additional complexities such as tax treaties, receiving social security from one or more countries, how retirement plans or pensions from our native country will be taxed in Spain, etc.
Road map to retirement
Peter Dougherty is a financial planner at Spain’s BISSAN Wealth Management who helps expats develop a “road map to retirement”. As Mr. Dougherty says: “Unfortunately, many people lack the resources to maintain their standard of living if they want to retire at traditional ages. Hiring a financial planner is the best way to reduce the possibility of that occurring. Employers are decreasingly able to assist – typically about half of private sector workers in the United States are not covered by an employer retirement plan. Meanwhile, government social security systems are in danger of being unable to deliver on promised future payouts.”
Retirement planning
Why is Peter Dougherty confident BISSAN Wealth Management can help? In his own words, “We work hard to find ways to be useful to people who are planning for retirement. Personally, it began when I earned an MBA in finance from Columbia Business School in New York. Then, in January 2023, I became a Chartered Retirement Planning Counselor®, after completing the study program taught by the College for Financial Planning. In this comprehensive program, we examined the retirement planning process from top to bottom, including how to meet multiple financial objectives, sources of retirement income, personal savings, employer-sponsored retirement plans, income taxes, asset management, estate planning, and more.”
European financial planner
To complement his extensive training in the United States, Mr. Dougherty, who also speaks Spanish, has earned important financial credentials in Spain as well. In 2021, the European Financial Planning Association of Spain (EFPA España) accredited him as a European Financial Planner. In 2024, Peter earned a Master’s degree in Spanish taxation from Instituto Europeo de Asesoría Fiscal (Institute of Tax Planning).
While he researched data to write his thesis for this tax program, he became aware of its usefulness. So, he incorporated the information in writing his second finance book, “La Hoja de Ruta Fiscal y Financiera para los españoles en EE.UU.” Published in 2024, the book reveals important retirement and taxation differences between Spain and the United States. The book received the Literary Titan Book Award. Recipients of this award “are commended for their ability to transform complex topics into accessible and compelling narratives that captivate readers and enhance our understanding.”
Stress-free retirement
Mr. Dougherty’s first book, “The Dougherty Code: Secrets of Financial Planning in Spain Revealed”, was published in 2023. It outlines helpful retirement and other financial planning strategies for expats in Spain.
As Mr. Dougherty says, “retirement should be a wonderful time, where we are able to do nothing without worrying about getting caught at it. At BISSAN Wealth Management, we help our clients with retirement planning so they can do so comfortably.”
To schedule a free consultation with Peter Dougherty click here.
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