Top products from r/ExpatFinance
We found 2 product mention on r/ExpatFinance. We ranked the 1 resulting product by number of redditors who mentioned them. Here are the top 20.
We found 2 product mention on r/ExpatFinance. We ranked the 1 resulting product by number of redditors who mentioned them. Here are the top 20.
Just another tip for you.
You really need to pick an institution that will work with Expats. Don't make any quick decisions as of right now. Having read Andrew's book, i set up a Schwab account because they are Expat friendly. I opened an account and let it sit dormant for about 2-3 months, then I rolled my IRA and Roth IRA from Bank of America over to them.
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It was about 15,000 in total, and somewhere between doing that and trying to link my bank account, they needed to verify where you live. Don't lie, just tell them you work abroad a majority of the year, but you have a US address. This will trigger an account change, they will need to change you over to an International account.
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Why do you want to do this, well if you already have an account with money in it, they will convert it for you, and they will waive the investment threshold. I have a colleague who tried to set up the international account and is stuck saving. If you have over 25,000 or whatever the threshold is, then no worries, just be up front. I wanted to invest immediately but didn't want do dump 25k in immediately.
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This process was not fun nor easy, but i'm not set up with my account, and with the International account we are not allowed to have checking accounts, despite being Americans. If you have 25k, don't waste time just open the international account and away you go.
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I'm currently based in the UK, but this is the book you want: https://www.amazon.co.uk/Millionaire-Expat-Wealth-Living-Overseas/dp/1119411890 You should be able to read a little bit here and see the chapter titles. This may not give you the full picture, but this really provided me with a lot of clarity, and taught me how to do all my own calculations. That's what I found most valuable.
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There are 2 versions of the book, the first release, then an update to the book, just get the new version as he cuts out some stuff that you don't really need, and also adds some new content. The writing style makes it easy to follow and the best thing about it is he pulls in stories from expats, and shows you there are many different ways for expats to save for the future/retirement.
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I don't know Andrew, i'm just really happy with this book, and reached out to Mark at planvision to get some guidance. Honestly if you read the book, you may not need to consult anyone, but Mark charges 100 USD for a year, and I talk to him on the small things where I need it. https://planvisionmn.com/
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Don't take my word, use this as a reference and data point, do whats best for you, and more importantly good luck!