isitts
Joined: 25 Dec 2008
Location: Korea
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 Posted: Sun Apr 03, 2011 12:56 am Post subject: Re: financial planning |
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| b0101 wrote: |
Does anyone know of a financial planner or firm they can recommend? I'm American and not sure how long I will be in Korea. I would like to find someone who is aware of the Korean and American aspects of things in terms of planning for retirement, investments, etc. I'd like to started on this but I'm not really sure where to start.
I've already been told I can't contribute to an IRA since I'm taking the foreign income exclusion on my taxes.
Any feedback would be helpful, thanks in advance. |
Not sure. I tried doing a search on google, but the site I found didn't look very legitimate.
I'd recommend doing your own planning. I've used sites like "motley fool", "Yahoo Finance", and "Investopedia" to help me out.
It's true that you are not supposed to contribute foreign earned income to an IRA, but...since an IRA is a tax shelter, there really isn't much benefit contributing money that wasn't taxable in the first place. Maybe using a regular brokerage account? One you can manage online (E*trade or Ameritrade...although E*trade has a maintenance fee for accounts under $10,000 for the brokerage accounts).
You do pay into a national pention while you're here, too. And some banks here can hold your money in other currencies (if you choose to invest in something like that).
Anyway, I know it's not quite what you wanted, but, there you are. Hope it's of some help.
But check out those websites.
Also, I should put my disclaimer up: I'm not a tax advisor nor am I a financial advisor. I assume no responsibility for your financial decsions.
Good luck! |
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