Author Topic: Moving internationally  (Read 502 times)

B492492

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Moving internationally
« on: January 22, 2019, 02:16:31 PM »
Hello all,

I was wondering if there are some people who started saving for FIRE in another country than where they would like to retire
Not sure yet where I want to retire but not in the UK

So wondering how I should go about investing in stocks, do I look for an international account? (any recommendations? very dependent on where I will end up?)
Ideally I would invest in 3 different currencies: GBP/EUR/USD, and not pay too much on (moving)fees when I decide to move out

Also any tips for international banking? Guess this will be a bit easier

Or should I just talk to my tax adviser by the time I am ready to move?
I guess it would be nice to already start investing in the right stocks account right now instead of figuring it out later when ready to move, to avoid unnecessary fees

General tips about moving/choosing where to move also very welcome

-B


jim555

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Re: Moving internationally
« Reply #1 on: January 22, 2019, 02:22:09 PM »
Not in the UK?  At least you would have the health insurance problem covered.

Linea_Norway

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Re: Moving internationally
« Reply #2 on: January 23, 2019, 02:43:50 AM »
We live in a country with a very small currency. Therefore we invest in international index funds, in euros and in USD, as well as a little in the local currency. In general they say that you should invest in the currency that you want to use when retired. But al long as you haven't decided yet, you might want to spread it a bit.

About the UK, the brexit chaos is very unclear. Will you be able to move to a country in Europe in the future? Or will the borders between UK and Europe close for immigration, both ways? Could it pay off to move there now while you still can?

There are also people who become expats in Asia, often on Asian budgets only. Amd they often cannot afford to go back to where they came from and continue to be retired there. I would recommend saving up enough to be able to be retired in the UK as well, even if you originally plan to move somewhere else.

For us with Norwegian pensions, we might risk getting paid out a smaller sum of our pension if we live in another country during retirement (after the age of 67). This might be an issue for you as well that you might want to investigate.

B492492

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Re: Moving internationally
« Reply #3 on: January 23, 2019, 04:33:19 AM »
We live in a country with a very small currency. Therefore we invest in international index funds, in euros and in USD, as well as a little in the local currency. In general they say that you should invest in the currency that you want to use when retired. But al long as you haven't decided yet, you might want to spread it a bit.

About the UK, the brexit chaos is very unclear. Will you be able to move to a country in Europe in the future? Or will the borders between UK and Europe close for immigration, both ways? Could it pay off to move there now while you still can?

There are also people who become expats in Asia, often on Asian budgets only. Amd they often cannot afford to go back to where they came from and continue to be retired there. I would recommend saving up enough to be able to be retired in the UK as well, even if you originally plan to move somewhere else.

For us with Norwegian pensions, we might risk getting paid out a smaller sum of our pension if we live in another country during retirement (after the age of 67). This might be an issue for you as well that you might want to investigate.

Thanks for your response!
Which broker do you use if you mind sharing for investing in different currencies?

I will be able to move back to EU anytime since I am European, almost 100% sure that we don't want to retire in the UK - but not sure if in EU either, debating between some EU countries and maybe some countries in central America (still quite some time to decide)
Figured might make sense to invest most in EUR/USD and just use a bank like 'TransferWise' for our expenses if we do end up in a non-EU country


Linea_Norway

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Re: Moving internationally
« Reply #4 on: January 23, 2019, 05:06:05 AM »
I just invest through my own bank in Norwegian index funds (from KLP). Some funds are valuta-insured and others aren't. So we have mostly bought non valuta-insured funds. It depends on the day's valuta course how much these funds are worth.