One Financial Mistake That Can Cost Expats Living Abroad Millions - and We See This All Too Often When We do Tax Returns

Too many expats and others living abroad keep all of their savings and investments in low interest paying bank or savings accounts in the USA. This is historically a big mistake.  It is understandable that you want to keep your funds in the USA, because the banks and currency in your country of location may not be stable or safe. However, other than some reserves a US bank account is not the answer.

Investing in the stock market (over the long run and in good conservative companies) and real estate (in areas where history shows the values will increase significantly in the future - Such as California) will give you a nest egg on retirement of 3 to 4 times the amount you will have if you just keep it all in a bank earning interest.  The worst place to keep it as you can see in the following article is under your mattress.

Read More in the following Washington Post article http://wapo.st/2ucJSBq

Remember also, investments in stocks and real estate abroad is mostly treated the same for US tax purposes as investing in US stocks and bonds. However, investing in foreign mutual funds can result in you having to pay higher taxes (thanks to the US Mutual Fund Lobby).  Want to discuss your investment  and tax strategy. Email Don at ddnelson@gmail.com.  We have assisted hundreds of clients on their way to accumulating retirement wealth.

Social Security - When Retiring Abroad In What Countries Can You Continue to Receive Benefits?

If you are retiring abroad and want to collect social security, sometimes there are restrictions and limits imposed by the social security administration. READ MORE ABOUT THE RULES HERE.

Foreign Retirement Plans to Register & Report US Citizens Accounts to IRS.

Read more in Bloomberg's Business Week Article HERE

COLLECTING SOCIAL SECURITY WHEN RETIRED ABROAD

You can still get US social security

If you are a U.S. citizen, you may receive your benefits in most foreign countries, usually by check or direct deposit. If you are not a U.S. citizen, the answer is more complicated, with certain rules applying to certain countries. For specifics, see the Social Security publication "Your Payments While You Are Outside the United States." 


You generally must pay into social security for ten years to get benefits. Many US expats who work for foreign employers do not pay into US social security and therefore may not have enough credits to collect benefits.  You cannot receive it just because you are a US Citizen if you did not pay into the system. Read more at www.ssa.gov