By Chad Creveling, CFA, and Peggy Creveling, CFA As the new year and decade begin, it’s a great time for expats to re-evaluate their financial positions and to make positive changes. Improving our financial circumstances largely requires instilling good habits, being consistent, getting started early, and possessing a basic understanding of finance and investing concepts. To help you enjoy a more prosperous 2020, here are some financial resolutions to consider as you start the year...
By Peggy Creveling, CFA, and Chad Creveling, CFA As you look for a holiday gift for your favorite expat or perhaps just for some interesting reading over the holidays, have a look through our annual list of highly rated books, especially selected with the expat reader in mind. All can be easily purchased on the internet, and while some are more serious, others are just for fun. For those expats who may live far away...
By Peggy Creveling, CFA, and Chad Creveling, CFA As the end of the 2019 tax year approaches, expats working in Thailand may wish to consider sheltering some of their income from Thai tax by contributing to Thailand’s Long-Term Equity Funds (LTFs) and Retirement Mutual Funds (RMFs). With a little bit of planning, you can save up to THB 350,000 (or about USD 11,700) this year in Thai taxes by contributing to both of these tax-advantaged...
By Chad Creveling, CFA, and Peggy Creveling, CFA Creveling & Creveling is required by law to protect clients’ privacy, and does not release client information to third parties without written approval. The following is a fictitious example designed to demonstrate the value of proper financial planning, and does not refer to any specific case. The Situation Steve and Denise are a Canadian couple who have been working in Southeast Asia for the past seven years...
By Chad Creveling, CFA, and Peggy Creveling, CFA Volatile markets make for challenging times for investors. Wild swings in the market can trigger a roller coaster of emotion as investors understandably fear destruction in portfolio value and a loss of financial security. The news media, with eyeball-seeking urgency, stridency, and sense of catastrophe, serves to heighten the fear and the impetus to take action. It's easy to succumb to fear and sell during and after...
By Chad Creveling, CFA, and Peggy Creveling, CFA To enjoy your ideal expat life, you need to embrace proper planning and have an awareness of the challenges of building a life overseas. Whether you’re a retiree or a professional on an extended stint as an expatriate, here are some financial issues you need to consider as an expat in an emerging economy. Cost of Living Yes No Have you researched cost-of-living expenses in your country...
By Peggy Creveling, CFA, and Chad Creveling, CFA Consumer financial fraud has hit all-time highs around the world, and much of it occurs online. Stories about scams abound, including identify theft, phishing and push-payment scams, unauthorized credit card purchases, hacked financial-institution websites, and ATM fraud. In the worst cases, hundreds of millions are stolen, even from large corporations like Facebook and Google. If sophisticated tech companies can fall prey to these scams, how can you...
By Chad Creveling, CFA, and Peggy Creveling, CFA If you're lucky―and we certainly hope that you are―nothing will ever go seriously wrong for you and your family while you’re living overseas. But unfortunately, the reality for most of us is that at some point, something adverse will happen. Your spouse may lose their job, or your family business may fail. Someone could fall seriously ill, become disabled, or even die. While none of us wants...
By Peggy Creveling, CFA, and Chad Creveling, CFA Once you've gotten your financial affairs in order after moving overseas—by limiting your number of financial accounts, getting a local credit card and opening an online brokerage account, among others—it's a good idea to set up ways to keep track of your finances online. They'll save you time and simplify the management of your finances, giving you more time to enjoy life as an expat. Here are...
By Chad Creveling, CFA​, and Peggy Creveling, CFA While Americans are taxed on worldwide income and assets and are actively discouraged from holding investments outside the United States, non-U.S. expats can often realize substantial tax benefits from investing in offshore markets. Non-U.S. expats are typically not taxed by their country of citizenship on income and assets held outside their home country. Additionally, many Asian countries do not tax expats on their investments and income earned...
By Peggy Creveling, CFA, and Chad Creveling, CFA This article is for general informational purposes only and is not intended as specific legal or tax advice. Please consult your legal or tax advisor for advice relevant to your situation. At this time of year, many Americans living overseas are collecting the various documents needed to file their 2018 U.S. taxes. This year, in addition to the sometimes obscure U.S. tax forms that U.S. citizens living...
By Peggy Creveling, CFA, and Chad Creveling, CFA This article is for general informational purposes only and is not intended as specific legal or tax advice. Please consult your legal or tax advisor for advice relevant to your situation. If you or someone you know has had a loved one pass away without a valid basic estate planning document such as a properly executed will, beyond the heartache of losing a loved one, you also...