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.
