Organizing Your Worldwide Assets for Retirement Success

Cross border families tend to have assets scattered around the world. Many people struggle with how to access their assets to provide retirement income and peace of mind. In this video, we paint the picture of a typical cross border family’s financial affairs, and provide some ideas for coordinating them in retirement.


Key topics to be addressed:
• Making sense of accounts in multiple countries
• How to diversify assets global
• Making sense of employer pensions and 401ks
• How to access funds once in retirement



Hello and welcome. Today I’d like to talk a little bit about organizing worldwide assets for retirement success. It’s always a challenge for cross-border professionals to organize their various assets, which are often scattered all around the world, in such a way that they can be confident that their retirement is assured. Some of the key issues that we see with our clients is where are their accounts located? And what countries have they often worked in throughout their professional history? How diversified are their assets, both across currencies and different regions of the world? What about access, how can they tap into their funds in retirement through regular money transfers and currency exchange? There’s the issue of employer pensions and 401k-type accounts where funds were often contributed pre-tax. What various government pensions has the person earned and social security, and how are they taxed? How’s everything taxed when you go to draw on it?


I thought it would be helpful in this case to draw up a diagram of a typical client situation and walk you through the affairs one of our typical clients. You see here, most people that we meet have a home country, very often they’ve lived in a secondary country, and then met found their way to the US, and they may very well retire back to their home country. Very, very common that the people we meet have a bank account both in their home country and in the country where they spent some time and here in the US.


Investment accounts; let’s just say maybe they have some back with their home country, they built up some funds in their secondary country, and they only have an investment account now in the US. Life insurance; big time life Insurance usage in Europe and India and Asia, not so much in the US. Let’s just assume they only have one policy back in their home country. Employer pensions; maybe they never worked in the home country but they have a pension, let’s call it the UK or some other country around the world, and they have a 401 K here in the US. Government pensions and Social Security; maybe again they’ve earned enough in these two countries to pay some kind of monthly pension in their retirement. And then of course real estate; maybe they went ahead and bought one or two, or maybe three properties back where they’re originally from, maybe the own one there, maybe not, maybe they just have their residence back here in the US .


Now this person is retiring. Let’s say they’re retiring back to their home country. Well you can see that in retirement they need to make sense make sense of all of these assets, bring them all together and consider how to access these funds. How they will be taxed? How they’re invested in, so that they can keep pace with inflation and provide for them throughout their retirement. Analyzing all these things is a central part of what we do with our clients when they come to work with Worldview. We try to make sense of all these assets, help people get organized, and feel like they have a plan for retirement.


Thank you very much.