Tax Management in Traditional Retirement (Phase 3)

This is Part 3c of our Retirement Withdrawal Strategies series. Quick summary so far: Part 1: When can you access your retirement savings? Part 2: How to avoid paying US and UK tax again (or at least minimize them) Part 3a: Putting it together in Early Retirement Part 3b: Putting it together in Middle RetirementContinue reading “Tax Management in Traditional Retirement (Phase 3)”

Estimating Social Security for Americans in the UK

I’m back after a short break – a week on holiday in Cornwall, and another week just catching up. I’ll continue my withdrawal strategies series in due course, but this is another quick aside, which is related but not central to that series. A lot of people in the FIRE community, especially on the youngerContinue reading “Estimating Social Security for Americans in the UK”

Tax Management in Middle Retirement (Phase 2)

This is Part 3b of our Retirement Withdrawal Strategies series. Quick summary so far: Part 1: When can you access your retirement savings? Part 2: How to avoid paying US and UK tax again (or at least minimize them) Part 3a: Putting it together in Early Retirement Today, we’ll look at “Middle Retirement” or PhaseContinue reading “Tax Management in Middle Retirement (Phase 2)”

Putting it Together: Tax Management in Early Retirement (Phase 1)

This is Part 3a of our Retirement Withdrawal Strategies series. In Part 1, we looked at when you can actually access your retirement savings, dividing retirement roughly into three phases: In Part 2, we explored the tax-free buckets that you can use so you never pay US or UK tax again (or at least keepContinue reading “Putting it Together: Tax Management in Early Retirement (Phase 1)”

RMDs vs Lifetime Allowance – Which Alligator Should You Focus On?

Fair warning: this post is for people who have reason to be concerned about both RMDs and the Lifetime Allowance. If you don’t have a Traditional 401k/IRA/etc. balance or you have no concerns about exceeding the LTA, you can skip on past – just focus on the one that affects you. Also – this oneContinue reading “RMDs vs Lifetime Allowance – Which Alligator Should You Focus On?”

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 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)”

US Traditional IRA (Account Options)

This is an option with a big question mark, even if the question is answered favorably, it’s still relatively limited, but I wanted to include it in the list of account options to be comprehensive. I’d be interested in your thoughts about how you use it as an American in the UK, if you do.Continue reading “US Traditional IRA (Account Options)”

UK Cash ISA (Account Options)

Now we’re getting to the accounts that aren’t part of the flowchart for a “typical” American in the UK planning for retirement, but they have their purposes and might be useful in your individual plan. Synopsis A Cash ISA is a glorified savings account that’s UK tax free, US taxable. Most people don’t pay UKContinue reading “UK Cash ISA (Account Options)”