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