Two homes, one future: smart financial planning for life across borders

For many professionals, Singapore isn’t just where they work. It’s here they build stability, raise families, and chase opportunities. Yet, for many who have loved ones or commitments back home, life often  feels like it’s lived in two worlds.

You might be earning in Singapore, but your heart, and  responsibilities are still rooted elsewhere. You are managing expenses here, while supporting family abroad. Every exchange rate swing, every unexpected bill, and every family need adds new pressure to  your financial life.

It’s not just about money. It’s about peace of mind, knowing you can care for your family, stay secure, and still dream about your future,  wherever that may be.

Turning cross-border challenges into clarity

Living and earning across borders bring both opportunities  and emotional strain. But with the right financial structure, you can balance both sides without feeling stretched too thin.

[Real stories] Meet Joseph, Clara and Subir, three foreigners who call Singapore home. They share their financial challenges and show how planning makes a difference:

Joseph*, in his late 30s, moved from the Philippines to Singapore for a better life for his family. Married with two kids, he works as a business analyst. His eldest son was born with a health condition that requires regular medical care, something that would have been difficult to manage back home.

He is grateful that the Singapore dollar is strong, which allows him to send money back to his parents and still afford quality healthcare for his son. But like many, Joseph faces big questions about the future. He hopes to retire in the Philippines, where his roots are, but worries about safety, especially after recent earthquakes.

To prepare, he is focused on paying off his home and car loans and dreams of starting a small farming business that can support his family in retirement. For now, he’s working with a  financial representative to strengthen his protection and savings, ensuring his plans stay on track despite uncertainties.

Clara*, a mother of two, is from Malaysia, but now calls Singapore home. She works as a hairstylist and together with her husband, raised their Singaporean kids here. The family makes regular trips to Penang where Clara is from, so her kids can visit their grandparents. Clara also remits money monthly to support her aging parents.  She shares that “every time the exchange dips, I feel guilty. Should I send more to make up for it, or save for my kids’ future here?”

Last year, her dad fell ill, and she had to fly back twice in one month. The air tickets, hospital bills and unpaid leave took a toll on her financial balance. Another pinch is the higher living costs, but she is biting the bullet because of the better education outcomes for her  children.

As a Singaporean PR, her status affords her some job security,  something that Subir*, who works in IT data does not have.

Subir, in his mid-30s, lives alone in Singapore. Though single, his sense of duty is strong; his parents in India are his top priority. He’s invested heavily in health coverage for both him and his aging parents.

“I won’t be able to retire in Singapore. The cost of living is too high. Unless I win a Toto,” he jokes. But behind that humour lies a reality many professionals face: the challenge of saving enough for long-term security.

Subir admits that while he has investments in stocks he understands, he doesn’t have spare funds for sudden large expenses. That’s where his financial representative helps him plan better — balancing liquidity, protection, and long-term investment strategies.

Whether it’s Joseph planning for retirement in his home country, Clara balancing life in two countries or Subir catering for his parents’ healthcare needs, these stories show a common truth: managing finances across borders isn’t just about earning more; it’s about planning better.  

Building confidence for their future 

Each family’s priorities differ, whether it is home ownership, medical coverage, children’s education or retirement security, but the foundation remains the same.

• Protection for life’s uncertainties like loss of income or unexpected medical expenses.
• Consistent savings and growth to cater for long-term expenses like education funds, retirement, or life expenses.
• Clear visibility on both short- and long-term goals – Whether you see yourself retiring here, back home, or both, knowing your numbers today gives you the desired freedom tomorrow. 

At Great Eastern, our role is simple: listen, understand, and design solutions that fit your unique journey. You don’t have to face these decisions alone. Here are 4 ways your financial rep can work with you to plan for your future:

👉 Run through hospitalisation, life, and income protection options tailored to your needs.

👉 Suggest ways to manage dual-currency savings and remittances.

👉 Guide you on financial growth plans that fit your risk level and timeline.

👉 Calculate how much you’ll need and structure a savings plan to you to get there.

With the right guidance, professionals can build financial confidence in Singapore while securing the future of loved ones back home. Because for those living between two worlds, true wealth isn’t about money. It’s about peace of mind, wherever you call home.