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Move Abroad for Your Retirement?

One great advantage to being American is that English is nowadays the lingua franca pretty much anywhere you go, and with 18.2% of Americans speaking Spanish as well, there are very few places Americans can’t go without being confident of their ability to communicate – although this is not to say that there is not rich reward to be enjoyed in learning to speak the native language of your expat retirement destination.

However, moving abroad is not a decision that is to be taken lightly. Not only should you thoroughly research your destination of choice, the type of visa you will require, the healthcare on offer and the expat community that exists there, you will also need to look into the full spectrum of expat wealth management considerations such as the pension and retirement planning vehicles, double taxation treaties with the United States and more. You will also have to consider reporting regulations in relation to your income – simply moving away from the US is not enough to negate your tax liability in the country.

Wealth Management for US Citizens Abroad and Expats in the US

All US citizens and residents, including NRA expats abroad, need to understand both their tax obligations in their country of residence and their country of domicile.

Blacktower (US) LLC provides clear and effective wealth management advice and services in this regard. For more information about us and how we may be able to help you effectively manage your wealth and retirement planning in the US 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.

Other News

NEWS WRAP – SECURE Boon to Retirement Planning but with Estate Planning Implications

On 20 December 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act into law*. The bill had already passed the House in a resounding 417-3 vote, and the reasons why it had near-unanimous bi-partisan support are clear.

SECURE promises to herald new ways of thinking about, and preparing for, retirement as the US moves into the 2020s. The Act seeks to enhance the coverage of qualified plan rules, not least by allowing smaller employers to collaborate so they can offer their staff 401(k) plans and, in a move that answers a frequent criticism, by giving long-standing part-time workers access to 401(k) plans.

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Opening up About Money – Easy or Not?

How comfortable are you talking about money? A recent survey by KBK Wealth Connection found that 44%* of Americans would rather discuss religion, death or politics with a loved one than the practical details of their finances.

Whether it is through embarrassment or fear of upsetting the applecart, such reticence can have profound consequences on future financial security and especially on retirement plans. This is why it is vital that you find a financial advisor who you feel comfortable talking to – if you can’t discuss money with your partner or children, at least you should be able to discuss it with a professional.

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