Spring is here, Easter is this weekend, and April starts next week, which for Americans may all serve as reminders of the April 15th (April 17th in 2018) tax filing deadline for US taxes. Even if you are taking an extension to file your 2017 US tax return, remember that you may still need to […]
IRA contribution limits have remained mostly the same from 2017 to 2018, with traditional and Roth IRA contributions limited to US$5,500/year for US taxpayers under 50, and US$6,500/year for those 50 and older. To make a Roth IRA contribution, your adjusted gross income (AGI) needs to be below US$120,000 for single taxpayers with an AGI […]
When investing retirement accounts, we are often told to invest aggressively (mostly in stocks) when saving as young employees, and then rotate more and more of the account towards more conservative investments (bonds and REITs) as retirement approaches. One overly simple rule is to allocate 100 minus your age in stocks, so that a 20 […]
Considering Roth conversions as an expat is similar to considering if, when, and how much to do one when living in the US. A Roth conversion turns a traditional IRA (on which you may have already gotten a tax deduction, but will need to pay tax when you withdraw at retirement) into a Roth IRA […]
After changing jobs, or even getting posted on an expat assignment by the same company, employees generally have the freedom to do a 401k rollover of their retirement savings account to an IRA account at their choice of brokerage firm or mutual fund company. Doing a 401k rollover to an IRA, and consolidating all your […]
In the US, many employees have 401(k) plans that automatically deduct a significant portion of their salaries into a tax-advantaged retirement account. Many 401(k) plans only allow these savings to be invested in a limited selection of mutual funds, and some 401(k) plans only offer expensive, poorly performing funds rather than low-cost index funds or […]
There are still two more months before the April 16th, 2017 deadline to make a 2016 contribution to your Individual Retirement Arrangement (IRA) account, and whether you open one with GFM or continue with your existing provider I will usually encourage you to “just do it” if you have qualified earned income. I have separate […]
We are pleased to announce our first joint event with Chris Chang of American Pacific Tax, where we discuss the investing and tax sides of real estate and the differences between buying a physical property vs listed real estate investment trusts (REITs). Registration is now open on Eventbrite.
This is part 4 in my 8-part guide to your financial life in Hong Kong. It is mostly intended for foreigners (especially US citizens or green card holders) living in or moving to Hong Kong looking to better understand “the system” and better manage their money both in and outside of Hong Kong. This one […]
Financial websites contain scores of “retirement calculators” which allow you to input a variety of assumptions and calculate when you may be able to live off your savings without working again, depending on how much you save, how much income you need in retirement, and of course what the rate of return on your investments is. […]