How does retirement work offshore? In this video, Andrew discusses three things you can do with your IRA.
Andrew Henderson and the Nomad Capitalist team are the world’s most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to “go where they’re treated best”.
Work with Andrew:
Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.
Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we’ve spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
About Andrew:
Our Website:
Subscribe:
Buy Andrew’s Book:
DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you….(read more)
LEARN MORE ABOUT: Precious Metals IRAs
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
REVEALED: Best Investment During Inflation
Great topic rarely discussed directly like this – thanks
If you're in the USA, and have a 401k, consider moving it to I-Trust-Capital's crypto-based IRA. Crypto makes more, and will bounce back faster after the Everything Bubble pops. This bull market is not over, sell the top, and be prepared to buy back at the bottom.
Just had a thought. Is there any way to use an IRA to fund the zero interest bond option for the St Lucia CBI?
The US is flat broke. All we do is print money with nothing to back it up. The house of cards will come down over time. The US could seize all IRA's and distribute a set amount to everybody. Everything is on the table when we go belly up !
My IRA is my "smokescreen". My true investments are rather untraceable.
Perfect topic. I'm 55 and retiring in two years, 850k in pre-tax IRA's, need a strategy to unwind and disconnect. Thank you.
The US government did change IRA rules. I had planned to leave a ROTH to my Granddaughter and at her young age, tax free distributions would last for many, many years. Recent changes now force the ROTH to be emptied out in ten years. I am NOT a happy camper over this having made conversions over a period of years and paid the taxes to set up my Granddaughter.
I also learned that if I left a ROTH to my non-US citizen wife, she will be hit with up to a 30% withholding tax on withdraws in retirement. She, like a US citizen spouse, will not face RMDs but she will owe taxes on qualified ROTH withdrawals. I chose instead to invest in her local business ventures where we live. She has developed a super income and growth of her business here and now. We have several options where to park retirement money at out current home base so Beautiful Bride will be well provided for even if she later sells or ends any of her ventures.
There is another option…a self-directed IRA. You can still retain the tax advantages of an IRA (Roth or Traditional) but keep direct control over the funds. Can be invested in metals, crypto, or even a business.
Timing is excellent. Speaking of overseas investment, I'm wondering if there are any complications to using an IRA to purchase investment property overseas that would then make one eligible for citizenship?
Thanks Andrew, 401k income and pension income are my biggest questions and obstacles to moving outside the US.
I was told by a tax attorney that on the day of renunciation of US citizenship by a covered person, a tax differed account is taxed as a lump sum disbursement. Therefore, he advised extracting oneself from those before renouncing.
Capital ALWAYS seeks the best investments.
IRA's are just plain robbery. I encourage everyone reading this to do a search on youtube as to why IRA's are bad. The most obvious issue is fees that will train your IRA down to nothing. But there are many other issues.
Thanks, Andrew. Great video, as usual. Question to which an answer has been hard to come by: Can you use a self-directed IRA for the investment option of the Golden Visa? I believe this is allowable by IRA rules, but I'm not sure one can invest in the name of an LLC to qualify for, for example, the Portugal Golden Visa.
What about putting ones "IRA" into Bitcoin and leave ( after paying whatever taxes or penalties ).
You likely got some ears pricked up in Southern Ireland with your headline here Andrew .
We are about to get a Pensionato visa in panama and live there part time. Are we better off to transfer our gold IRA to a Panamanian bank?
What about a gold IRA Andrew? Kept in US ?
Timely! Starting to get really antsy about the majority of our wealth being tied up in an account I'm not allowed to touch for 20 more years.
For the third option, one may be liable to report distributions from an IRA as income to the country you are considered a resident of.
For example, I have to report distributions from my IRA as income to the Asian country, where I live, and pay taxes on it, unless I qualify as 'not resident'. Gets very complicated.
I like to look at my IRA as a safety net within the system (while I build up normal, more controllable holdings at the same time) while an offshore account would be a safety net outside of the system entirely. No one approach is risk free, of course.
This is the problem with retirement accounts. They are basically at the whim of the government. In the end they decide how much you will ever be able to withdraw.
Christ I thought you'd branched into Irish politics.
I thought Ireland was the only one with an IRA