Hello,
I'm a Canadian citizen living in the US temporarily. My wife (also Canadian citizen) and I moved for a job I took but our long-term plan is to return to Canada, though the time frame depends on a lot of things. Initially, just I was working but in October my wife started a job that pays a lot more than mine and now we have a high enough combined income to make significant savings. We are both 26. Currently we have about 16K CAD and 17K USD in savings accounts, plus 8K USD in my wife's 401K. Outside of maxing the 401K, we now have about 38K USD a year that is over and above our living budget and we need to invest.
I have a good idea about the types of investment I'd like to make, but the big question is what kind of vessel to invest them in. As long as we're residents of the US we don't have any tax obligations to Canada on income earned here, but once we go back to Canada I want to make sure we can either hold the US investments at minimum cost or transfer the investments to Canadian holdings if that's more effective. I've already confirmed that my wife's 401K can continue to be held while we live in Canada.
I'd appreciate any advice on our situation. I'm not an ultra-moustachian to be honest but since we're saving over half our after-tax income I want to make sure we do it right.
