Managing the Lifetime Allowance

We learned a little bit about the Lifetime Allowance in my post on UK Pension Withdrawal Options – mostly by pointing to the excellent Monevator post on the topic. Today, we’ll dig a little bit deeper, to see how we might avoid paying HRMC an extra 25% of our hard earned savings. I’m going toContinue reading “Managing the Lifetime Allowance”

UK Pension Withdrawal Options

Continuing with our interlude from the Withdrawal Strategies series – this is the second of three posts: Required Minimum Distributions from Traditional IRA, 401(k), etc. and how to manage them UK Pension withdrawal options Managing the Lifetime Allowance (I added this one because it was going to be too long to fit in the others!)Continue reading “UK Pension Withdrawal Options”

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”

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”

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”

US and UK Taxes – Which are higher?

The UK, right? Lots of people make the assumption that the UK is a high tax country, with a generous social safety net funded from those high taxes (some people I know would disagree with how generous – more than the US in a lot of cases, at least, but no Norway!). I wanted toContinue reading “US and UK Taxes – Which are higher?”

US Employer Pensions (401(k), etc.) (Account Options)

This is a big one – it might be limited in your ability to contribute moving forward, but for many Americans who move to the UK after starting their career in the US, you’ve got one or more employer pension accounts, possibly with substantial balances. For our purposes, the rules are pretty much the sameContinue reading “US Employer Pensions (401(k), etc.) (Account Options)”