Hey, check out this video for more info, and if you want to open up your own account, feel free to book a call with me (booking link is below the video): https://retiredabroad.co/neutral-zone-account
Hey Sally, check out this video for more info, and if you want to open up your own account, feel free to book a call with me (booking link is below the video): https://retiredabroad.co/neutral-zone-account
Hey Jennifer, check out this video for more info, and if you want to open up your own account, feel free to book a call with me (booking link is below the video): https://retiredabroad.co/neutral-zone-account
Not specifically a question about expat banking, but a large share of my retirement saving is in an uninsured tax-defferred 457 account with a govt-contactor/financial services company, not an actual bank. My portfolio, such as it is, is mostly invested in a relatively low-risk low-yield manner. I'm trying to figure out a way to better protect my money w/o incurring a huge tax liability and secondarily increase my earnings. Any suggestions would help.
Hey Steve, check out this video for more info, and if you want to open up your own account, feel free to book a call with me (booking link is below the video): https://retiredabroad.co/neutral-zone-account
Revolut is good for converting currency, same as Wise. I don't see any issue with using it alongside a local account. I would however not use it to store wealth, only "spending money".
I’m confused. When my Swiss daughter-in-law was getting her fiancé visa, and in the process of the green card and in the process of getting married to mine to us a US citizen she had to immediately close her Swiss bank accounts. So I’m confused.
That's really common. Her Swiss bank didn't want to deal with FATCA reporting once she became a US person, so they tell her to close the accounts. That's the bank's decision, not the law, and every bank can do it. Americans can legally hold foreign bank accounts, but you have to find banks that are willing to do so.
Very interesting, thanks for the share. I’m in Australia and the overreach by banks is crazy. Every withdrawal over the counter is questioned if it’s more than $1,000. You know the curious bank teller being friendly but asking because they are required to report it in case it’s a scam or being used for illegal activities 🤦♀️🤷♀️
What are your thoughts on banks on the blockchain, like Wefi bank?
I’ve made a small investment and just haven’t had the energy to learn more. It’s something I’ll do over the coming months.
Very welcome! I would stay far away from any bank that questions withdrawals, and even further away from Wefi. They aren't even a bank, they are involved in scammy MLM schemes, and their ROI promise (last time I checked something around 18%) is another red flag. Feel free to DM me, for other options.
I'm retired with money sitting on TSP. Take it out without a rollover and pay 20% tax at the time of withdrawal. But I don't know if TSP is still safe. Any thoughts?
Good question. There are paths out of TSP, both with and without a tax event. It depends on your numbers and timeline. You can e-mail me here: ben@clubcitizen.co and I'll send you more info.
Thanks for this great information. It did not occur to me to consider this four account approach. Now I realize there’s so much more I need to learn. It seems like this is a good idea even if you are not leaving the United States, but are just someone who needs to protect your money. As you said in the video, no single point of failure.
Thanks, appreciate it! Yes, there are many things that can be done. Unfortunately, not many ppl know about it. Priority number one should always be a calm nervous system, and having money secured surely helps with that.
I’m in the process of moving 3/4 time to France. I opened an account online at Revolut. It’s located in England, but I have a French RIB (in €’s) for my utilities and an ATM card for local purchases. I’m able to add (deposit) funds w my US credit card. The exchange rate seems fine and there are no exchange fees) I don’t know that deposits are insured, but I keep the balance under $10k. So far so good.
Nice! Just make sure to treat Revolut as what it is (a fintech) and not as a proper bank, which you seem to be doing with the low balance. And for investing as an EU resident, you can check this out: https://digital-citizen.kit.com/money-guide
wow, so helpful!!
Hey, I’m glad :) You can also check this video for further info: https://retiredabroad.co/neutral-zone-account
Sweet, thnk you!
ACCOUNT
Hey, check out this video for more info, and if you want to open up your own account, feel free to book a call with me (booking link is below the video): https://retiredabroad.co/neutral-zone-account
Account
Sent via mail, and you can also check this video for further info: https://retiredabroad.co/neutral-zone-account
ACCOUNT. Very helpful, thank you.
Hey Sally, check out this video for more info, and if you want to open up your own account, feel free to book a call with me (booking link is below the video): https://retiredabroad.co/neutral-zone-account
Account
Hey Jennifer, check out this video for more info, and if you want to open up your own account, feel free to book a call with me (booking link is below the video): https://retiredabroad.co/neutral-zone-account
Not specifically a question about expat banking, but a large share of my retirement saving is in an uninsured tax-defferred 457 account with a govt-contactor/financial services company, not an actual bank. My portfolio, such as it is, is mostly invested in a relatively low-risk low-yield manner. I'm trying to figure out a way to better protect my money w/o incurring a huge tax liability and secondarily increase my earnings. Any suggestions would help.
I DM’d you!
I have been running on similar lines but had not thought of the Neutral Account to hold the pot. Where do you suggest?
Hey Steve, you can find more info here: https://retiredabroad.co/neutral-zone-account And you are interested to open such an account, feel free to reach out!
ACCOUNT
Hey Steve, check out this video for more info, and if you want to open up your own account, feel free to book a call with me (booking link is below the video): https://retiredabroad.co/neutral-zone-account
Very interesting perspective. Im curious what do you think having Revolut for US SS and use it as bank account in Italy let’s say.
Revolut is good for converting currency, same as Wise. I don't see any issue with using it alongside a local account. I would however not use it to store wealth, only "spending money".
Crap. Self custody Bitcoin.
I also hold BTC in self custody, yes. But it's not the solution for everything.
I’m confused. When my Swiss daughter-in-law was getting her fiancé visa, and in the process of the green card and in the process of getting married to mine to us a US citizen she had to immediately close her Swiss bank accounts. So I’m confused.
That's really common. Her Swiss bank didn't want to deal with FATCA reporting once she became a US person, so they tell her to close the accounts. That's the bank's decision, not the law, and every bank can do it. Americans can legally hold foreign bank accounts, but you have to find banks that are willing to do so.
Very interesting, thanks for the share. I’m in Australia and the overreach by banks is crazy. Every withdrawal over the counter is questioned if it’s more than $1,000. You know the curious bank teller being friendly but asking because they are required to report it in case it’s a scam or being used for illegal activities 🤦♀️🤷♀️
What are your thoughts on banks on the blockchain, like Wefi bank?
I’ve made a small investment and just haven’t had the energy to learn more. It’s something I’ll do over the coming months.
Very welcome! I would stay far away from any bank that questions withdrawals, and even further away from Wefi. They aren't even a bank, they are involved in scammy MLM schemes, and their ROI promise (last time I checked something around 18%) is another red flag. Feel free to DM me, for other options.
I'm retired with money sitting on TSP. Take it out without a rollover and pay 20% tax at the time of withdrawal. But I don't know if TSP is still safe. Any thoughts?
Good question. There are paths out of TSP, both with and without a tax event. It depends on your numbers and timeline. You can e-mail me here: ben@clubcitizen.co and I'll send you more info.
It’s getting more complicated every year In the UK pensioners pay tax on their pensions and savings
Sadly true! The overreach is getting more and more.
Wow, I think your article came to my attention in the nick of time! Will dive more into all this soon! Thank you!
Hey Teresa, I'm glad! :) For any questions, feel free to send me a DM or mail to ben@clubcitizen.co
Thanks for this great information. It did not occur to me to consider this four account approach. Now I realize there’s so much more I need to learn. It seems like this is a good idea even if you are not leaving the United States, but are just someone who needs to protect your money. As you said in the video, no single point of failure.
Thanks, appreciate it! Yes, there are many things that can be done. Unfortunately, not many ppl know about it. Priority number one should always be a calm nervous system, and having money secured surely helps with that.
I’m in the process of moving 3/4 time to France. I opened an account online at Revolut. It’s located in England, but I have a French RIB (in €’s) for my utilities and an ATM card for local purchases. I’m able to add (deposit) funds w my US credit card. The exchange rate seems fine and there are no exchange fees) I don’t know that deposits are insured, but I keep the balance under $10k. So far so good.
Nice! Just make sure to treat Revolut as what it is (a fintech) and not as a proper bank, which you seem to be doing with the low balance. And for investing as an EU resident, you can check this out: https://digital-citizen.kit.com/money-guide
account please, informative video, thanks
https://retiredabroad.co/neutral-zone-account here the video! DM me for more information
What if there's a currency devaluation and greenbacks are no longer accepted?
I would always hedge by holding different currencies.