Globalization and your personal financial situation

Globalization; a significant factor

One of the main reasons why people move from the one country to the other is globalization. Globalization links the world. The actions and events in one part of the world can have impact elsewhere. For example, if you are working for an international company in the Netherlands, an action by one of their key suppliers in China , or the price of raw materials from Brazil, can impact you in Amsterdam.

Globalization incorporates social, cultural, political and economic interaction and sometimes integration. In the concept of business it often implies scale, and a universalism of approach. It is a global process and advocates aspire towards an international free movement of resources, goods and labour. The reality is not as free as there are many competing and contradictory factors, however it remains one of the most significant and rapid changes in the last 50 years and will continue to shape the 21st century.

The direct impact of globalization on an individual is the economic and follow-on social implications. These can impact you, and your financial investments, as the economy is increasingly interconnected and multinational companies grow in size, influence and sheer global footprint.

The second way globalization can effect you is in the application of the forces of globalization in the services and support you receive. This might mean a fund manager or bank might be taking a globalized rather than a regional or country specific approach to how they manage your money. This might mean you are not getting a solution specific to your situation and needs.

Globalization and your personal financial situation

For many people globalization means homogenization and universalism, that is, the same solution for everyone, everywhere. When it comes to your money and financial planning though an individual approach is needed. You need tailored, personalized advice and bespoke solutions in line with your situation, needs and aspirations, not a globalized internationally templated approach.

Settle Service can now offer you (your international employees) a first meeting with a financial advisor, free of cost. In this meeting, your personal situation and plans are discussed and the advisor will draft a personal advice. Using this advice, you will be able to determine if more advice is required. Interested? Please let us know and we will bring you in contact with the advisor.