108. Best Practices for Brits in America: Non-US Assets, Roths and Your UK State Pension

We talk a lot about the financial landmines British expats in America face, but what about the opportunities? Following on from episode 103 of Ask an Expert, Richard Taylor, founder of Plan First Wealth, shares the best practices he wishes every Brit in America followed. Drawing on nearly 11 years of US-UK cross-border financial planning, he explains why you should deal with your ISAs, UK pensions and other non-US assets early, before compliance issues and penalties build up. Richard also covers smart, sensible US tax planning, from backdoor and mega backdoor Roth IRAs to tax loss harvesting, direct indexing and asset location. He explains why topping up your UK State Pension with voluntary Class 3 contributions is one of the easiest wins for expats, now that the Windfall Elimination Provision is gone. Plus, why you should take advice before moving to America and again before leaving, including what green card holders need to know about exit tax and the UK's new FIG regime. -- Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/ -- Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas. ABOUT RICHARD: Richard Taylor is a British expat, dual citizen (UK & US). Originally from Bolton, he now lives in Greenwich, CT, where Plan First Wealth has its head office. As the firm’s leader, Richard launched Taylor & Taylor, now Plan First Wealth, and continues to fuel the firm’s growth. Richard is a Chartered Financial Planner (UK – CII) in addition to holding the IMC (CFA UK) and Series 65 (US – FINRA). Connect with Richard on LinkedIn