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Transferring large amounts of money overseas can incur significantly large fees, if you go through the banks. FX brokers offer faster transactions, better fees and higher security. So how do they do it? And how much is there to be saved? This week for Ask An Expert, Richard is joined by FX broker David Nixon, Senior Partnerships Manager at Currencies Direct.
They explore the process, benefits and FAQs of foreign currency conversion through a broker. You’ll find out how Currencies Direct offer solutions for clients who need to transfer large amounts of money or navigate banking limits. Plus, Richard and David talk about their strategies for navigating the complexities of property transactions in the US.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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The S&P 500 recently closed at 5,750, up 20% year-to-date and in defiance of gloomy predictions of a recession late last year. The market is up 60% since the closing low in October 2022. The September jobs report showed 254,000 net new jobs, exceeding expectations and demonstrating continued strength in the labor market, despite slight softening in jobless claims. So what does this mean for you and your financial plans?
To find out, James and Richard don their helmets and gear up for another slog through the trenches, analysing the latest in financial markets and sharing their plans.
It’s the same thing we talk about always on the show: the psychological impact of market highs and lows has to be controlled. Investors fearing a looming crash despite continued growth is a textbook example of what not to do.
Also last week, Republican nominee Trump made an announcement about tax policies for US citizens living abroad; what has he said he’ll do if elected in November and what would the impact be?
For more information and insights on everything we talk about on the show, head to planfirstwealth.com
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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“I don't want a valuable life lesson, I just want an ice cream.” Those are the immortal words spoken by Bluey, beloved Blue Heeler puppy from Australia. We can all relate, but when it comes to Australian/American cross-border financial planning, a life lesson might be what you need. You can have an ice cream afterwards.
To deliver the lesson, Richard is joined by Ashley Murphy, founder of Arete Wealth Strategists and the Global Financial Planning Institute. Ashley shares his journey from corporate finance to starting his own firm and specializing in cross-border financial planning for Australians and Americans.
Many expats, especially Australians moving to the US, fail to understand the long-term implications of their immigration status on their financial planning. There are unique tax advantages available to those who plan their entry and exit from the US carefully, but many miss out on these benefits because they don’t seek advice early enough. Many Australians in the US, particularly those on temporary visas, often unknowingly commit to green cards or permanent residency without realizing the financial consequences. For instance, long-term US residents may face an "exit tax" if they leave the country or miss out on tax benefits available only to temporary visa holders.
Bluey is a story of success; an Australian who cracked the US market. Set yourself up for the same success with the lessons learned in this episode.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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CPI increased by 0.2% in August, putting the year-over-year rate at 2.5%. So, inflation is stabilising and we can all celebrate? Possibly. The U.S. added 142,000 jobs last month too, leading to a slight decline in the unemployment rate. What does this mean for markets?
Richard and James are back in the trenches, to bring you the latest cross-border financial advice. What does the CPI data tell us? What’s the rest of the year got in store?
Rich was recently a victim of attempted identity theft, and he shares the steps he’s now taken to protect himself. There’s plenty of advice to stop it happening to you in this episode. Stay vigilant and listen closely.
Finally, remember the Bernie Madoff Ponzi scheme? What lessons are there to learn from that one?
This week’s From The Trenches is a mix of practical advice, personal stories and life lessons.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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Working with cross-border attorneys who have expertise in both US and UK law is crucial for navigating the complexities of international estate planning. Luckily, we’ve got one here. Paula Jones is a cross-border estate planning attorney. She’s the principal and founder of Jones Estate Group, a law firm based in Philadelphia that serves clients across the US and internationally.
Richard and Paula discuss the importance of working with cross-border attorneys who have expertise in both US and UK law, as well as the need for a network of advisors to navigate the complexities of international estate planning.
If you are, as Paula refers to them, a multinational (you’ve got a business relationship with the US plus a non-US component), you’ll need to know the pitfalls of US federal and state estate taxes, inheritance taxes, and the differences in probate processes across states. Paula explains that probate fees and legal fees vary depending on the jurisdiction, and the process can be delayed if the probate office is backed up. Filled with the answers to the questions you need to know, this episode is a must for any multinational.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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With inflation easing to 2.9% for the first time in two years, we're now entering a particularly critical phase in the economic recovery. Richard and James are back in the trenches to guide you through it. As always, it’s about sticking to your investment plan during these volatile times.
What’s been the impact of interest rates on spending? Richard and James speculate that higher interest rates have, somewhat paradoxically, both curtailed economic activity and increased spending among wealthier consumers, due to higher returns on cash and fixed-income investments.
Plus, watch out for financial scams! They’re getting increasingly sophisticated, targeting older people with large retirement savings. There’s a prominent scam called ‘pig butchering," where scammers isolate and manipulate victims, often by posing as legitimate entities like banks or government officials. Be vigilant, use safeguards such as two-factor authentication, different passwords, and be cautious with electronic payment platforms like Zelle. James highlights the importance of financial institutions and advisors playing their part, and being proactive in recognizing red flags to protect clients from falling victim to these scams.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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Do you know enough about living trusts? They’re a tax-neutral and effective tool in the US to avoid probate – BUT they can have severe UK tax implications for UK domiciliaries. Probate can be time-consuming, costly and cumbersome – especially in New York and California – so it makes sense to avoid if you can.
To explore the options, Richard is joined once again by Aidan Grant, a senior associate at Collyer Bristow LLP.
The use of a living trust can trigger significant inheritance tax liabilities in the UK. Transferring assets into such a trust can result in an immediate 20% inheritance tax charge on the value exceeding the UK’s nil-rate band (£325,000). It’s definitely something to be aware of.
Plus, many more practical steps and considerations for domiciles.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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James and Richard are back once again in the financial trenches. The UK election is done and dusted, but there’s still much to discuss.
The US elections are approaching and, as always, with them fears of a market downturn. Having a systematic investment plan during these volatile times is essential, as James explains. It can be difficult to go against our ingrained emotional and psychological impulses, but react to them at your peril!
Plus, how to take control of your retirement: Rich and James analyse the best ways to get on top of savings and navigate the unpredictability of the stock market.
In this episode:
06:34: UK Election and Change in Government
12:24: The Power of Systematic Investing
17:36: Retirement Savings and Taking Control
22:31: Fear of Market Downturn and Investor Psychology
24:12: Market Volatility and Long-Term Returns
25:11: Navigating the Unpredictability of the Stock Market
29:25: Understanding Inflation and Unemployment Rates
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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A complex web of unique tax obligations could cost you millions – if you don’t know how to navigate it.
In recent years, as global mobility has increased, so have the financial details for expats. The UK’s inheritance tax system, with its comparatively low exemption thresholds, poses significant challenges for Brits who’ve amassed substantial assets in the States. Whilst the US offers more generous exemptions, it has its own estate planning complexities.
Navigating these waters requires more than just basic knowledge; it requires expert insight. Enter: Aidan Grant, Senior Associate in tax and trust planning at Collyer Bristow. He joins Richard on this week’s episode of Brits in America.
You’ll gain knowledge of the intricacies of estate planning, domicile status and the pitfalls of living trusts – if you’re a Brit living in America, you simply can’t afford to miss this episode!
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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The US taxation system is unique, complex and significantly different from the UK’s. It demands proactive compliance due to its stringent reporting requirements and severe penalties for failing to do so.
There’s a lot of noise in this space and a million different situations you could find yourselves in – that’s why it’s important to seek out cross-border tax experts for their niche advice.
This week, Richard Taylor is joined by Chris McLemore, Partner at McLemore Konschnik, a London based boutique law firm of US lawyers specializing in tax, trust and estate planning advice for US citizens and green card holders and their businesses, whether based in the UK or internationally.
They chat about the complex world of US tax compliance, particularly for British expatriates, and use their extensive knowledge to discuss why it's so crucial for expats to stay compliant with US tax laws, the common pitfalls they face, and the solutions available to them.
Expect to gain knowledge on navigating streamlined procedures, the difference between wilful and non-wilful compliance and the potential penalties for failing to report foreign income and assets – if you’re a Brit living in America, this episode is packed full of essential information you simply can’t afford to miss.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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Richard Taylor recaps recurrent themes and issues he’s seen throughout his career as a financial planner, as well as the principles that he’s built up to tackle them head on.
Rich imparts practical advice on several key points which he says are fundamental to his belief system and are key to successful financial planning, making it in America, and living a fulfilling life.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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“You have to treat it as a foreign country; you have to make the same kind of preparation for market entry as if you were preparing to go into India or Indonesia or somewhere else.”
That’s a quote from Duncan Edwards, guest on this episode of WTBIA. Despite the cultural similarities, treat the US like any foreign market – do your prep. Duncan is the CEO of the British American Business, a leading transatlantic trade organisation with 450 member companies. The BAB exists to strengthen trans-Atlantic business.
Preparation for market entry into the US, as a UK-based company, is critical, and that’s what Richard and Duncan discuss on the show. There’s a significant failure rate for companies attempting to enter the US market – Duncan explains how to avoid it.
Plus, the influence of Brexit on global trade dynamics, and the unique characteristics of the various US states.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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Richard Taylor and James Boyle are back, bringing you the latest reports and their unfiltered takes on what’s going in the world of US/UK cross-border investing and financial planning.
Rich and James start with a look at how the markets behaved in May, which was generally very positive. As said many times on the show before, it’s important not be reactive or make emotional investment decisions. Current events influencing long-term investment strategies is a common mistake. Don’t touch that third rail!
The conversation then turns to investment and tax implications for expats who may move back to the UK. What are the implications for reporting vs non-reporting funds? Avoid punitive tax liabilities with some key planning decisions.
Finally, the talk turns to retirement (sadly not their own) and, citing a recent New York Times Magazine piece, the importance of having something to retire to. Have you thought about your retirement plan? It’s crucial to have one. James and Rich weigh up the pros and cons of retiring early against continuing to work in a consultancy role.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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Richard Taylor and Sean Kearney are in the trenches, giving you the latest reports and their unfiltered takes on what’s going in the world of investing and financial planning. Sean is the founder of Amvoy Wealth, an Irish/American financial planning and investment management firm based in Dublin and New York City.
You need to understand dual taxation. The US and Irish tax systems shouldn’t be viewed in isolation; Sean explains how they interact and how they can impact your financial planning. There are tough penalties for failing to comply with tax obligations in both jurisdictions – the penalties for not doing it if you’re found out are pretty archaic, and they’ll hurt your bank account far worse than complying.
The three key takeaways from this episode:
1. Complexity of Dual Taxation: Understanding and managing the tax responsibilities in two countries is crucial. Kearney points out, "We pay CGT in Ireland, we pay CGT in the US. But how does that work together?"
2. Necessity of Specialized Advice: The importance of obtaining specialized financial and tax advice is a recurring theme. As Kearney explains, many advisors may not fully grasp the intricacies of international tax laws which can lead to severe consequences. "There's lots of people out there that pretend that they know what to do and from my experience they don't."
3. Proactive Compliance: Rich and Sean stress the importance of being proactive rather than reactive when it comes to tax compliance and financial planning. As Sean says: "It's better to be going talking to the IRS than the IRS come looking for you." This proactive approach can prevent severe penalties and ensure smoother financial operations across borders.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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Richard Taylor and James Boyle are in the trenches, giving you the latest reports and their unfiltered takes on what’s going in the world of investing and financial planning.
There’s been a 25% increase in the markets from Oct 2023 to March 2024, followed by a noticeable downturn in April. Most of us know the importance of sticking to investment plans, but how do we create one, and how do we keep a steady hand in volatile times? Rich and James also talk about non-US investments for Brits living in America, and the inevitability of dealing with Passive Foreign Investment Companies (PFICs).
Also covered: Richard shares his reflections on turning 40 – it’s a milestone in our personal life but it’s also a key step along the way as we plan for our retirement.
The three key takeaways from this episode:
1. Market Volatility and Investment Strategy – financial markets are inherently volatile, it’s important to stick to investment plans and maintain a steady investment strategy despite fluctuations. Endure short-term losses, achieve long-term gains.
2. Tax and Investment Compliance for Expats – the complexities of managing investments in the US for British expats are numerous, navigating the tax implications and reporting requirements of PFICs is essential to know. It’s critical to be compliant with tax laws and potential consequences of mishandling foreign investments.
3. Personal Reflection and Life Planning – Ferris Bueller said it best (Richard’s 40 – excuse his dated references), time moves pretty fast, if you don’t stop and look around once in a while, you might miss it. Planning the time you have is essential – balance professional focus and success with personal satisfaction and wellbeing.
Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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In the UK you've got four countries that make up the United Kingdom, governed by HMRC. In the US, you've got 50 little governments that reside under that umbrella. They each have autonomous authority to set their own rules, and that's where we see people stumble the most.
Understanding State Complexity: Each state has its own set of rules regarding taxation, employment, and business operations. Christy emphasizes the importance of understanding these nuances early on to avoid compliance issues and unnecessary penalties.Choosing the Right Business Structure: Many UK businesses mistakenly choose an LLC when expanding to the US, unaware of the potential tax implications. Christy advises that a C Corporation, owned by a UK Limited entity, is often the best structure. This setup allows businesses to efficiently navigate the tax systems of both countries, leveraging the US-UK tax treaty to avoid double taxation and maximize tax benefits.The Importance of Cross-Border Expertise: Seek advice from someone with specific cross-border experience. General advice from domestic accountants or incomplete research can lead businesses into complicated tax situations, costly penalties, and operational headaches. Early engagement with cross-border tax advisors can save businesses from these pitfalls and provide a smoother expansion process into the US market.
Christy Waskobojnik is a tax advisor specializing in US-UK cross-border matters, and head of business development for DYUSA, a tax and accounting firm. This week's Ask An Expert with Christy focuses on advice for business owners thinking of starting up in the US.
The three key takeaways from this episode:Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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Plan First Wealth, the company behind this podcast, works with British expats in America. We're seeing the same avoidable mistakes and missteps when it comes to financial planning - some of which have been going on for years and can be very costly to resolve.
So, we want to address the problems. As a result, Always An Expat is changing and the show's remit is expanding. However, our objective remains the same - we want to help fellow British expats thrive in America, by avoiding the landmines and taking advantage of all available opportunities.
We're very excited to introduce We're the Brits in America, which will replace Always An Expat. Going forward, a few different shows will sit under the We're The Brits In America umbrella.
We are going to have Ask An Expert, where I'll tap into my network and bring subject matter experts - professionals in the US/UK advisory space - on to highlight some of the challenges and also the opportunities that accompany being an expatriate in America.
Then there will be From The Trenches, where myself and colleague James Boyle bring you our take on what's going on in the world. We'll do a deep dive into some technical topics that you can find on our website, and we'll give you our thoughts on some of the popular financial planning aphorisms, all interlaced with the real stories and observations that we encounter on a daily basis in the field.
Always An Expat will still exist, where I will bring in an interesting expat to talk about their experience in America, but it will now exist alongside Always An Expat and From The Trenches.
I hope you enjoy! More importantly, I hope you thrive!Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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This week Richard is joined by longtime friend and expert in foreign exchange and global payments (and East London native) Mark Ridley. Together they explore Ridley's personal and professional journey as a British expat living in the United States, highlight the nuances of expatriate life and discuss the challenges of adjusting to a new country and the opportunities it presents.
Three main takeaways from this episode are:
The Importance of Adaptability: Mark's story emphasizes the need for expatriates to be open and adaptable to new experiences. Despite having expectations based on previous visits and professional experiences in the U.S., living there full-time presented unforeseen challenges and opportunities.Financial Planning for Expatriates: The conversation sheds light on the significance of early and effective financial planning for expatriates. Richard highlights the unique financial challenges faced by British expats in the U.S. and the importance of managing pensions, investments, and savings to secure a stable future.Cultural and Social Adjustments: Richard and Mark discuss the cultural and social adjustments expatriates must make, from understanding local customs and work ethics to finding community and making new friends.Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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Jeremy Bettel, founder and CEO of Vitality Collective, shares his journey as a British expat in America and his career in high-performance professional sports.
He discusses his move to the US for education and career opportunities, his experiences working in the NBA and NHL, and his transition to New York City Football Club.
Together, Jeremy and Richard explore the themes of identity, self-validation, reevaluating priorities, and the pursuit of a well-lived life. As always on the show, the conversation explores the differences in mindset and financial responsibility between the UK and the US. The importance of having an emergency fund and avoiding excessive debt is emphasized. The concept of the American Dream is discussed as the opportunity to build one's own future and be in control of one's destiny. The episode concludes with closing remarks and contact information for the guest.Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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James Boyle and Richard Taylor are joined by guest Simon Misiewicz, property tax specialist, to focus on US-UK cross-border financial and tax planning for British expatriates in America.
The trio emphasizes the critical need for British expats to have both a US-UK cross-border tax advisor and a financial planner, and the importance of these professionals collaborating closely. They look at US retirement accounts, stressing their significance in wealth creation for expats in the US and the intricacies of managing UK pensions from abroad. The discussion highlights the complexities of navigating US financial systems, such as understanding 401(k)s and other retirement plans, and underscores the importance of compliance and strategic financial planning. The episode also touches on recent changes affecting expats' voting rights and encourages listener engagement and questions.Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
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