How I Learned to Stop Worrying and Defuse the RMD Bomb

Time for a quick pause in my bigger Withdrawal Strategies series – there’s a few detailed topics we need to get to before we can get to Part 3, combining when you get access to accounts with how to minimize your taxes and get to your money. Before Part 3 will make sense, I’m goingContinue reading “How I Learned to Stop Worrying and Defuse the RMD Bomb”

Never Pay US or UK Taxes Again

This is Part 2 of our Retirement Withdrawal Strategies series. Part 1 is here. Or at least, get pretty close to paying nothing – might be hard to completely escape the tax man when you have to work in two systems at once! For a sample £900,000 portfolio at retirement, the difference between a goodContinue reading “Never Pay US or UK Taxes Again”

Retirement Withdrawal Strategies – Part 1

I’ve been thinking about this one for a while, trying to find a way to make it simple and straightforward. There’s already some great work out there on withdrawal strategies, including from GoCurryCracker and the Mad Fientist/JL Collins, but they’re specific to Americans in the US. You could work out a similarly simple approach forContinue reading “Retirement Withdrawal Strategies – Part 1”

US & UK Tax on Traditional to Roth Conversions

I’m working on a series of posts about retirement withdrawal strategies and managing US and UK taxes in retirement, and I keep drafting a comment that “I’ll do a post on Roth conversions in the future” – I’m just going to do it now 🙂 There’s already a lot out there about a Roth ConversionContinue reading “US & UK Tax on Traditional to Roth Conversions”

Social Security & State Pension

This is the last of my series on account types that Americans in the UK might use to save for retirement. US Social Security and the UK State Pension maybe aren’t accounts, strictly speaking, but they’re certainly worth understanding and considering how you’ll use them in your planning. I’ll start with an overview and comparisonContinue reading “Social Security & State Pension”

Intro to Buying a House in the UK

This post is a quick guide on purchasing a primary residence in the UK, focusing on the issues that are specific to US citizens living in the UK. I’m not going to cover second homes, buy-to-let, US properties, etc., nor will I go through the details of the UK homebuying process that aren’t unique toContinue reading “Intro to Buying a House in the UK”

Intro to US & UK Inheritance Taxes

Cross-border estate and gift tax planning is extremely complex. The intent of this post is really to give you some background information so that you can walk into a meeting with an estate planning professional knowing the basics of the systems, not to give you enough knowledge to do it yourself! Estate planning is notContinue reading “Intro to US & UK Inheritance Taxes”

Saving & Investing for Kids

We know that 529s aren’t typically a great option for Americans in the UK, but you want to save some money for your kids – maybe for university, a first home deposit, or other long term goals, right? And maybe their grandparents want to start some kind of savings for them, too? I’ve put togetherContinue reading “Saving & Investing for Kids”

UK Junior ISA (Account Options)

This is a really quick one for completeness. A Junior ISA won’t be part of your own retirement/FIRE planning, but maybe something you consider for your kids. They come in both cash and Stocks & Shares (S&S) flavors – the rules are almost the same as adult ISAs. I’ve only called out the handful ofContinue reading “UK Junior ISA (Account Options)”

Alternative Minimum Tax & Americans Overseas

I just finished my 2020 US taxes, and while reviewing them noticed that I had a chunk of Alternative Minimum Tax, over $600! Fortunately, it was offset by my child tax credits (thanks girls!), so I didn’t actually owe any tax, but it got me to thinking. My kids are growing up fast, and thereContinue reading “Alternative Minimum Tax & Americans Overseas”