091 - [Guest Interview] How to Invest for Retirement If You Might Not Retire in the US

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Listener Question

How do immigrants should strategize investing when there is a real possibility of going back to home country because of work visa denial? Should we continue to invest in the states or invest offshore where we would retire? Thank you.

I have been living in the United States for 11 plus years now. Because I am an immigrant, I did not invest in 401k until 2015. But again, I was just contributing 6% to get employer match. I started my financial independence journey a year back. I maxed my 401k, contributed to Roth IRA. Thank you for the wonderful podcast to inspire millions of listeners.

Guest Interview

Connect with Ashley Murphy, CFP®, AIF®

Arete Wealth Strategists

Global Financial Planning Institute

Planning Points Discussed

  • Tax Planning
  • Retirement Planning
  • Purchasing Power
  • Other issues (IRAs, Inflation, Financial Goals)

Timestamps:

2:00 - Introduction to Guest Interview

5:30 - International v. Cross-Border Financial Planning

8:27 - Every Country is Different

7:00 - Why the 4% Withdrawal Rule is Conservative

8:00 - When Can I Ensure I Can Retire?

12:30 - Tax Implications

13:00 - Foreign Tax Credits

17:37 - Roth IRAs for Dual Citizens

22:00 - How to Avoid Pitfalls

22:51 - PFIC (Passive Foreign Investment Company)

28:30 - Overview

LET'S CONNECT!

James

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Scott

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