♦ A person with one foot on each shore whose heart resides in both countries♦
THE PONDSTRADDLER ♦ LIFE™ CONSULTANCY
PondStraddler♦Life™ Financial Perspectives Blog is the Cross Border Financial Planning blog for Bermudians with international connections and guest worker Multinationals On the Move. PLFP is written by Martha Myron (a perennial pondstraddler) as well as a qualified finance professional in international investments, taxation, risk management, retirement, trust and estate planning. Launching soon.
The Pondstraddler* Life™ Financial Perspectives focuses on the challenges of managing complex finances for cross border lifestyles of globally mobile citizens, Bermuda island residents, and / or multinational families with United States, Canadian, United Kingdom, Europe, and other Bermudian connections.
Bermuda Fundamental Financial Planning Primer Series
Bermuda 14-Week Financial Review
Read the Entire Series in the Royal Gazette
Dawn of Great Expectations
-Living Life, Defining Your Identity
-The Brand Called You
-Setting Your Goals
-Focus on the Future
Into the Winds of Change
-Cost Cutting with The Bermuda Tightwad Gazetteers
-Education and Career Earnings
-Financial Enlightenment - The Bermuda Investment Primer
-but First Your Own Home
Financial Survival and Redundancy Recovery
Relationships & Money
Debt, More Debt: Wants Versus Needs
International Taxation - Border Crossing Complications
The Risk in Living
Calm Waters. Rippling Into Retirement
-Retirement Rules and Progress Steps
-Career Apex, Career Abyss
-Pensions, Benefits, and Income Security
Swimmingly Serene Twilight
-Reinvention, and Refinement of a Lifestyle
-Finding Your New Identity, Some Little Losses, but a Large Finite Future Still Awaits
-Time for Play, Time for a Purpose Filled Second Life
Dimming of the Day
-Bermuda Trust Structures: Settlements, Distributions and Dispositions
BERMUDA Investment Primer
Mutual & Money Market Funds
Alternatives: ETFs, Private Equity, Options, FX, Derivatives
Choosing an Ethical Advisor
The Investing Process in Bermuda
Bermuda is NOT a Tax Haven! Talking Points
Guests and LINKS
Mount St. Agnes Academy Reunion MSA 1961-2011
September 11 made 2001 unquestionably, the worst year of the last decade of last century. The United States was attacked onshore with the loss of thousands of lives. Many of those lost were closely affiliated and personally known in Bermuda in our international financial and insurance industries.
Bermuda lost two of her own citizens, innocents, ordinary people who took opportunities to work abroad to bring betterment to their lives and their families, never to return.
Since the year 2000 and more than 700 articles later, Martha has written the weekly Personal Finance column in the Royal Gazette, Bermuda. She is passionately committed to Bermuda financial literacy (see Mission Statement) and has dedicated this non-profit educational website to providing easy to use information and clarity to all things financially important in our complex international finance centre of Bermuda.
Pondstraddler Life™ Financial Perspectives and the Bermuda Fundamental Financial Plan Series are focused on financial education relative to the Bermudian environment for Bermuda residents, multinational citizens, guest workers and business owners living, working and retired on the island.
Martha is the Principal of The PondStraddler♦ Life™ Consultancy, Bermuda
See Mission Statement.
Copyright and Disclosures
WELCOME TO BERMUDA ! HOME of AMERICA'S CUP
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- The Island of Bermuda from NASA Satellite -
Surrounded by Dangerous Reefs - the fourth most remote land mass in the World.
640 miles due east from Cape Hatteras, North Carolina, Longitude 64, Latitude 32 degrees
Bermuda is a beacon, a tiny island on a defunct volcano in the middle of the Atlantic. Discovered more than 500 hundred years ago, settled since the year 1604, Bermuda has had a marine history of astonishing proportions to her size and population. From the first voyage to Jamestown to revitalize the remaining starving settlers, to the first fore-and-aft rigged sailing vessel driven swiftly to commerce on the high seas, to the vital support of military allies from revolutionary to cold wars, through NASA space missions, and shuttle base landing alternative, Bermuda’s connections to the US, the Northern Maritimes, the UK / Europe and the Caribbean have been innovative, opportunistic and pragmatic. With well-honed survivalist instincts, Bermuda islanders produced seafarers, superb ships, and pilots of extraordinary skill and daring.
OCEAN Poetic. THEY THAT GO DOWN TO THE Sea in Ships, that do business in great waters....... Like the winds of the sea are the ways of fate, As we voyage along through life.
Visit the Bermuda Maritime Museum, now incorporated into the National Museum of Bermuda, to see hundreds of years of marine history of Bermuda and her people.
Modern Bermuda The Island of Bermuda is referred to as the “world’s risk capital,” a salute to the innovation, entrepreneurialism, and leadership of international business, Bermuda (re)insurers and the Bermuda government that has fostered the growth of this business.
Bermuda has become a blue-chip international financial centre—home to
high-net-worth trusts, international law firms, hedge fund managers, shipping
companies, and major insurance and reinsurance corporations. The island is forging a global legacy.
Bermuda is one of the top-three insurance and reinsurance centres in the world, alongside New York and London and is acknowledged as the largest property catastrophe market. Our island companies contributed an estimated 35 billion dollars to US catastrophe losses over the past dozen years.
- 22 billion to help rebuild the US Gulf and Florida coasts after the horrific hurricane seasons in 2004 and 2005,
- including paying nearly 30 percent of insured losses from Hurricanes Katrina, Rita and Wilma.
- nine percent of United States 9/11 claims
- we support some 25 percent of the US medical liability insurance and reinsurance
And Bermudian insurers were the first to settle their claims.
Bermuda’s captive commercial liability insurance and reinsurance sector fills an important capacity shortage for U.S. companies. Approximately 75% of the 500 leading companies in the U.S. have captive insurance subsidiaries in Bermuda, which provide worker’s compensation and other lines of liability coverage.
The Economy of Bermuda in the Year of our Lord 2016. Bermuda Islanders brought a new government into power almost four years ago, who faced challenging budget deficits, a decreasing GDP, a high debt ceiling and a six-year economic recession impacting Bermuda businesses, and residents alike. We wished for leaders with fortitude and a brighter vision for the future.
The Bermuda Government Budget for the 2016 / 2017 fiscal year was not a balanced budget, but it was prudent and conservative. Only time and a gradual improvement in foreign investment will provide fiscal strength indicators signaling an improvement in our economy. Meanwhile, Government finances will continue to be challenged, albeit conservative austerity measures are still in place.
However, financial bright lights are evident on the horizon. An increase in the number of international business company incorporations and captive formations in 2014 and 2015, 2016 has brought optimism. High tourist season 2016 started positively with the annual influx of visitors to Bermuda's shores, welcomed by local populace with their foreign currency infusions highly anticipated. Domestic retail sales have increased for more than ten months.
Bermuda welcomed America's Cup Challenge for the year 2017. Sailing crews, equipment, yachts, and organizers have arrived for training in anticipation of this famous event.
Financial Survival. Individuals and their families are still keeping budgets close to the line, economizing further for additional savings, particularly, if family members are unemployed.
READ the Financial Survival Section for help on coping with the recessionary downturn along with Is Your Job On the Line: Coping with Redundancy. The common sense information has been culled from the author's and readers' personal experiences. We know; we've been through recessions before.
LINKS TO Professional Pages >>>>>>
We take great pride in linking to websites and passionate individuals who have earned our respect for substantive content in providing unbiased current wealth of information content for, and about Bermuda and who have supported the Bermuda Pondstraddler Life™vwebsite.
The Royal Gazette, Hamilton, Bermuda
ABIR - The Association of Bermuda Insurers and Reinsurers
Supporting Consumers in Times of Catastrophe
Bermuda Online www.bermuda-online.org was the first, and is still, the preeminent website (launched more than twenty years ago) by Keith Forbes to actively promote the beauty, history, governance, tourism, environment, international industry and many more topics about our island of Bermuda, the premier international finance centre.
BERMUDA BUSINESS DEVELOPMENT AGENCY. Link to BBDA
Onion Law Blog Legal blog by Bermuda lawyer, Peter Sanderson