How to make sure you get the most from your US based assets

Most US-connected people living in the EU have assets back in the States: 401k or other employment pensions, IRAs (traditional or Roth) or investment portfolios that may or may not be managed, overseen or even considered on a regular basis. These assets can form an important part of your financial life and shouldn’t be neglected.

We partner with US-licensed teams to offer a seamless service so that your EU-licensed advisors at Black Swan Capital, working with US-regulated managers and advisors can help you understand and manage your investments worldwide.

Here are 4 ways we can help managing your US assets:

US-based Investments

If you previously had investments in the USA that are now frozen, dormant or out of your control, we can advise on whether it is best for you to keep them there or relocate the assets closer to where you are now. If your investments will be staying stateside, we can provide a team of licensed professionals who can help you to manage those assets while you are overseas.

Compliance with local regulations and with the regulations where your money is sitting can be difficult, so we will ensure that you have help from properly regulated and qualified professionals who are licensed in each of the jurisdictions that we need to consider to protect you and work towards your financial goals.

Retirement Rollovers (401k and IRA)

If you have 401k or similar retirement benefits accounts, you might benefit from rolling these over into an IRA (individual retirement account) in order to reduce cost, take more control of the investments or increase flexibility.

It is very unlikely that your 401k plan will allow you to draw benefits in any currency other than US dollars or have your retirement income paid to a foreign bank account so the more likely you are to retire overseas, the more important this decision becomes.

A traditional IRA, in turn, can be rolled over into a Roth IRA. This could be beneficial in terms of current and future tax liabilities although it is important to weigh the complexities of such a decision depending where in Europe you are living.

Get advice, speak with us, and with the right regulated advice you can determine the best way to manage your US bases assets.

Annual Contributions

In some cases, there may be a benefit to continuing to make annual contributions to your US-based pension plans. In other cases, European regulations and tax laws (depending on where you live) could negate this.  We will help you understand the pros and cons for you specifically.

Moving money between the US and Europe.

Moving money across currencies can be a difficult and expensive process. Don’t be distracted if a bank or institution offers you low or even no transaction fees when you are moving money from Euros to US dollars or vice versa. The real cost is something called the buy-sell spread, it is often hidden, and with the right advice and planning we can save you thousands. If you are planning on moving between currencies speak with us first so you can do it in the most cost-effective and tax-efficient way.

If you have any questions about this or you have pensions or investments in the US that you would like some help with, please contact us right away at info@blackswancapital.eu or speak directly to any one of our team.