“As a nation we are not spending enough time thinking about this and how we want to use our pension. This is true both before and in retirement,” commented Emma Byron of Legal & General Retail Retirement.
This information is perhaps even more worrying when you consider that since the government’s pension reforms were put in place people have been able to affect their pension arrangements by being able to make lump-sum withdrawals and through investing choices such transferring funds to a SIPP or QROPS.
Without proper consideration and trustworthy advice, this could be devastating for future financial security and has seen some retirement savers lose out or be duped by fraudsters.
Pension and Retirement Planning for Expats in the US
For an expat living and working in the US the idea that someone could spend less than a week planning their pension and retirement income sounds preposterous.
Expats frequently find that pension planning for US non-residents – including IRA contributions, cross-border tax complications, and IRS rules and penalties – is a dizzyingly complex task; whilst recognising and fulfilling your obligations as a non-resident alien or a dual citizen adds another layer of complexity.
It goes without saying that the advice of an expert is necessary in these regards. Yet at the same time advice is frequently thin on the ground for UK expats in the US. Fortunately, Blacktower (US) LLC marries a 30-year heritage, expert advice and a distinctly British flavour for its wealth management clients in the US. For more information about how you could discover the Blacktower benefit, contact us today.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.