Very interested. I did just move a significant chunk of my ira into a 5 yr fixed rate fund. Figured 5 yrs will take me past this cluster f@&k. https://swissonetrust.com/fee-and-advantages/
I just checked their website, and they seem to make everything simple. A chat rep wanted me to open an account right away. Fees are low. I checked reviews online, and there seem to be questions about their reputation. Any more insights, anyone?
From what I've been studying for the past few years, Uruguay is the most politically & economically stable country in SA: boring center politics, boring stable economy (relatively low wealth imbalance), decent climate, easy immigration requirements for US retirees.../1
...Mexico is still easier entry than most but narco-gangs are a chronic issue & over age 70 an expat can't qualify for MX healthcare. Canada has high income requirements as do most other English-speaking countries except Belize, where the climate is absolutely heinous. /fin
On the EU bank accounts are insured up to €100,000 per person in each bank. So if you’re a couple with €600,000 you’d need to use three different banks, or at least that’s my understanding
I’m think if that happens the collapse would be global. Once I saw Dump publicly conspiring with Russia to rob Ukraine and Europe I realized few places will be safe havens for anyone but the wealthy.
I really am fearing the worst. I've considered putting a lot of cash on a home safe. It's not wise, but It's concerning what King Don I wants to do, it might be the only option.
Name a date and time for everyone who cares about America and our democracy to meet on the White House steps to effectuate a peaceful transfer of power back to we the people!
Me too that's why I hope I can get the word out let's do it that's our White House that's not theirs our tax dollars pay for that white house that's our White House
Name a date and time for everyone who cares about America and our democracy to meet on the White House steps to effectuate a peaceful transfer of power back to we the people!
Actions speak louder than words! We need a solution not continue talking about the problem!
I’m thinking the same things. Use credit unions. Put money in safety deposit boxes. Freeze or lock credit. I just deleted my PayPal acct. and move $$ overseas if you have it. 😤
We went safe the first week of the new usa king. I love how experts say keep your money invested. Like this is normal. The usa is degrading before our eyes. Seriously ready to just bail when the collapse starts. It will be wicked.
That's what I'm wondering. T-bills are backed by the full faith and credit of the nation--but what happens if that's turned into PretendMoney that only is worth what a bunch of incel investors say it's worth?
In coffee jars in your backyard… just remember to dig them up before you move. The new owners won’t appreciate you digging up their flower bed. Not that I would know.
IRA’s are uniquely American. But other countries have similar tax advantage retirement plans that you can contribute to. You would need to check the specific country.
I never inadvertently paid the wrong person with a paper check by getting a digit wrong in their phone number though. Also, this post was mostly meant for a little lighthearted comic relief in stressful times 😉
Wow! You opened Pandora's Box with your question.
I'm pretty sure I won't sleep all night now!!!
Last night it was lock your credit! I didn't sleep well last night either!!!
Closest you could come would be owning Swiss securities in your IRA. But the IRA provider remains american-based and subject to whatever regulations promulgated by the admin. To be real safe withdraw all the funds from your IRA, pay the taxes, and then deposit the proceeds in a Swiss bank account.
That's kind of what I figured. Problem is that if you're still working, the taxes will be higher now than later. Still might be better than whatever happens if you don't.
It's crappy because no one wants to gamble with their life savings.
It's a good idea, but let me remind you that Swiss banking secrecy has been lifted for foreigners since 2009.
What's more, as Americans, you'll have a hard time finding a Swiss bank that will accept you.
If your under 591/2 years of age you will have a 10% penalty on top of the tax rate. Roth IRA you can withdraw the input amount anytime no tax’s or penalties. If everyone withdraws it will crash Wall Street and the banks don’t have enough liquidity for all.
Well either government crashes the banking systems first or we do before they really get work done on crypto. History has shown crypto is as sensitive to depression as banking is though.
If the administration starts undermining the FDIC, I'm pulling my savings out of the bank. Would a mass exit of funds harm the banking sector? When I brought this up to my financial advisor, he sounded so tired and depressed as I was not the first of his clients to bring this up.
I have been contemplating that for weeks. I think we all need to go and get a SentryLock heavy fireproof/ waterproof home safe. If he gets rid of FDIC, that means he is going to siphon everybody’s bank accounts.
Foreign bank, maybe Canadian. Perfectly legal, although there are tax complications as you would end up owing taxes in two places. But that might be better than losing all in a bank collapse.
When we are at the point of thinking about money. I have lost sleep over this. How is he expecting people to survive? Are we allowing this to happen? No one should have these worries. WTF?
I think they’re going into Fort Knox to say all the gold was stolen by the Biden administration and now our money is worthless. But Elon will let us convert it to crypto and give us a week to do it. And then he can siphon off however much he needs to become a trillionaire
I’ve already done several small runs on my bank.
The problem is if they go into Fort Knox and say all the gold is gone and the Biden administration stole it, then they’ll say there’s nothing backing up the dollar and say you must put what is left in your banks into cryptocurrency
I'm pulling out enough cash to cover my bills for a year...just in case. If the economy crashes and it all goes to hell at least I'll have a short backup plan. I'm too old and fat to run from the zombies.
This is what I’m worried about. If they go into Fort Knox and say the gold is all gone which they will, and say the Biden administration stole it, then they’ll say the dollar is now worth nothing because there’s no gold to back it up. Then what will my $100 bills be worth
We can only take so many precautions and still live our lives. I refuse ( for now) to let them live rent free in my head all the time. To do otherwise means they win no matter what. Hang in there. I have to believe we'll come out on the other end in one piece.
I went to Wells Fargo bank and they brought out the manager when I asked about Elon getting into the FDIC. She said she didn’t know anything about it and Wells Fargo has given them no directive. Exactly what I expected but still disappointing
At least you are rich enough to even think this way. You can leave if you choose. Some of us have our passports taken and not reissued because of who we are. I even tried to follow Trump’s law by paying to change the X back to my biological birth gender female. So, yeah
Interestingly.. why do think Trump made a comment about US. Banks in Canada . 1) some are already here but have to abide by our laws .. 2) he can’t get to US money or investments .. all sorts of things these these bastards want to get a hold of
All major foreign banks have a presence in the US.
For a foreign bank account as a US citizen, the bank is obligated to report it to US authorities, whether you declare it or not. If not they lose access to ability to do USD transactions.
USD in a Singapore bank is safer than USD in a US bank.
Canada's tax system is different
Overseas Americans are taxed on ALL income over $126K, with credit for foreign taxes paid
Canada doesn't tax non Canadian sourced income when you reside overseas
A guy I know, now a billionaire, dropped his US for Canadian citizenship, pays nothing to Canada. $$$
Vanguard has an ETF VXUS that’s basically an index fund balanced across non-US stocks. If your account happens to be at vanguard, I believe there’s a non-ETF version, but they’re likely effectively identical.
To be clear though, this is not “getting your money out of the US” (there are plenty of good $expatriation guides online if you search) — it’s diversifying your portfolio to hedge against the US market tanking.
Trump insinuates that Ukraine should have offered Putin something of value so that Putin never invaded. I’d like Musk’s little 4 year old to ask Trump what he would offer Canada if they decided to invade the US.
They deduct it from your pay if you are not self-employed or earn it via investments.Most people go the route of having fairly accurate amounts deducted or even a bit more so they do not have to shell out funds with their returns. Too late for the tax filings we are doing now, but you can have the
lowest amount deducted for 2025 still and by next year, 2026, who knows what will happen? If you do that, there is a fine you have to pay for not paying enough in throughout the year AND Medicare/SS will still be deducted. It is going to be hard to not pay taxes.😕
I'm 68. How can I transfer what cash I have to a swiss bank? I'm not rich so I don't know how this works. Also I guess I'm losing my social security soon as well.
The article does not say anything about that. Just raising the age to 69 by 2033, then a cut of 13% will be in place. Whether for all or just those retiring after 69 is reached, I don't know. All I know is what is in this article.
So far, the push is to raise retirement age to 69 by 2033. Once reached, payments would be cut by 13%. I don't know if that's on new retirees or both old and new. Then they are mucking with those who retire early. I'm 68, too.
Yes, @gtconway.bsky.social, but as an American and former resident of Switzerland (2016-2023, and UK 2013-2016), I can say that's not your first concern moneywise. Know that you will still owe US federal taxes on any income you earn abroad (the US & Eritrea are the only nations to do this).
Just moved to 75% cash thinking of doing the same in the 401ks it’s hard to fathom a scenario where the stock market is up for the remainder of the year
Maybe it gets atax giveaway to corps bump but it’s hard to see how government layoffs and funding cuts won’t impact the rest of the Econ hard
Come on George. Why not follow the MAGA geniuses who invest in Trump digital trading cards, Trump shoes, Bibles, coins, etc ? Seriously, before I'd spend a nickel on his crap, I'd invest in an all-night food stand on the top of Mt Everest that features frozen spinach on a stick.
I've been waiting for a huge 2023 refund because I finally made enough to get to a wealth guy aka shelter specialist and learned about tax loss bonds. Another refund for 2024. They are moving very fast and boldly.
It's really telling the Musk wants to eliminate the G Fund on federal workers' TSP ("401k"). It's the only fund you are guaranteed NOT to lose money. You may not make any,but you can't lose any.
Could I ask where you heard or saw this? I couldn't find anything...and we just moved all our TSP $ to the G fund, thinking it was the safest place (if there is such a thing at this point).
You’re better off transferring everything to a self-directed IRA and working with real estate investors such as myself and helping me do fix and flips to maximize returns (8% or higher)…compared to just letting it sit there doing nothing collecting just 4-8% average.
🤣😂🤣😂 maybe read the room - pending a depression which may take several LIFETIMES to recover from, planet is in crisis - human are in jeopardy and the next pandemic is currently picking up speed in USA, 11year olds are unaliving themselves, continual mass shootings
We don’t foresee a major decline in the housing market in the next few months unless unforeseen events or policy changes drastically shift conditions. However, after 2025—especially if a new pandemic or economic downturn occurs—markets may see more volatility.
A fix-and-flip strategy can generate returns in about six months, but if market conditions shift, you can pivot to a 'buy-and-hold' approach. This strategy can offer long-term security compared to letting funds sit in an IRA exposed to stock market fluctuations.
George, incorporate in Panama and you can move the money anywhere. You become an Oligarch, but maybe not a bajillionaire. You have to sell out your countrymen, like Trump and Musk, to get the big bucks.
I have been wondering that myself although I wouldn't trust the Swiss as the Obama era agreements render the Swiss privacy rules basically null and void for Americans.
I think they actually have clawed some back, it’s really a matter of if they’ll get away with it, at this point. And if they do, jfc. And yes, it’s hard to keep up with what’s going on with one awful thing while there are many, many other awful things going off 24/7. So exhausting.
George, your old enough to avoid the penalty, take the tax hit and liquidate the IRA. Move it to an account in Europe. The way things are going you may have to flee and better not to be penniless.
Interesting you should ask that. I asked a similar question a month ago on a form on banking and I got laughed out of it. They’re not laughing now. It is a concern.
Interesting question. I'm pretty sure the answer is no. I suspect that if major amounts of money start leaving the USA by any mechanism, trump will block it.
I'm very worried that our entire retirement account is going to go up in dust. This regime is ruining lives that will still be ruined decades after he's been consumed by worms and beetles.
If they are the posters bonds all they need to do is go to their bank and they’ll cash them like checks. It’s when they’re someone else’s that’s a pita. My late husband has a couple I need to get cashed. That’ll be thru treasury & could be months.
I agree with you, but I invest in spot gold, which is one of the strongest investments in the market. It can protect my assets from harm and ensure that they are safe from damage when the world situation changes and the US economy becomes increasingly serious.
Here is how I feel about gold however. If it's not in my hands in my safe, it's probably not safe right now either. Who is going to regulate the person holding your gold so to speak?
Years ago I bought a bunch of 1/10 ounce gold coins. Not a lot but it was a lot for me at the time. They were worth $110 each back then. I thought if I had to trade for a loaf of bread I didn’t want to trade a 1 ounce bar.
I saw a post this morning that reported the muskrat wants access to Fort Knox. I didn't research it - yet. I think the last time anyone actually saw that gold was in the 80s.
I cashed all by treasury bongs in last week. Theirs a good likelihood that they will be worth nothing soon. If the government owes you any money, I’d try to get it out while you still can.
well definitely if they are no longer accruing interest. Mine are but I don't trust being able to redeem them in the future. I did cash in an I bond already. I'm just not sure where to put things. Credit Union might be safer than banks?
I've used only credit unions for my banking for over 40 years. I was a director of one. Same services but not owned by big corporations who pay CEOs huge salaries and bonuses to bilk customers with outrageous fees and interest.
People were talking about moving 401ks into money market accounts...are we beyond that now? I'm feeling pretty lost. Gold or gold ETFs? I know nothing.
This is the reason I just had a dream about the time. I was sitting locked in the vault at Drexel. Burnpackaging physical stocks to send back to Granny's. Before the feds got there and may have held them as evidence. I was saving Granny.
A 401k can't be transferred to a foreign bank. It has to be transferred to an IRA or cashed out. Then you could have have penalties and/or taxes to deal with.
Nevis is an underutilized tax haven, nice people, easy flight, good beaches, learn to play dominoes before you go. There’s even a quaint racetrack , but they were British, they run clockwise which confuses me.
George, are you REALLY asking for financial advice on social media?! Or is this a veiled suggestion that we all look for safe shores? Unfortunately I am living on Social Security and monthly payments from an annuity. Unless I scurry south to Mexico, I'm screwed if it all goes bad.
Canada will always be friendly to Americans. But that doesn't mean we will let you all in. There are 10x the amount of US than CAN. "Political asylum" at large scale turns us into you.
Yep & it’s a real threat to so many Americans. But I believe the threat for people who’ve been fortunate enough save for retirement is a real as well. In fact, if you have money in the bank to pay your bills or get your SS direct deposited, also at risk. They haven’t hit the FDIC or SEC - yet …
But they know our bank & investment account numbers IF you have ever paid the irs OR gotten a refund with the account OR received a 1099 or 5498 with the bank or investment acct listed.
Keep the acct that elon knows about to use just for the govt BUT create a new one and move the bulk of your $$$ there. Applies to bank AND investment accounts. Exchange your IRAs to new acct numbers.
All we have is our house we paid off last summer (this is our first house that we bought when we were in our 50s). It has dropped 15% in value in five months; what little that’s on the market that we could afford is trash. We’d have to rent out our house and move into a small apartment.
I believe you have to file paperwork that you are abroad and they were withholding from those that didn’t file that paperwork. But who knows. I trust nothing any more.
I think that may be the case. Everyone collecting social security needs to stay up on their paperwork so they don't fall into the void. I don’t trust anything musk is doing to the government.
Not unless you move to a specific enemy state.
You can't draw SS in North Korea, for instance, but many US expats in Mexico and Central America live on their SS or VA pensions.
The problem today is, an expat has to give proof of income upon visa renewals, to remain in a foreign country as a temporary or permanent resident. If your sole source of income is SSA & that gets cut off, prepare to eventually be deported back to the US.
You won't get deported, your visa just won't get approved & you'll have to move somewhere else. I've lived overseas for 20 yrs, deportation is a whole different thing from not qualifying for a specific visa.
Hummm, this could be a lucrative business for me and the single gals I know. Canadian citizenship with marriage, must sleep with other people and reside in guest room. 😆
Answer to George's question: how complicit would your target Swiss bank be, with turning over your info or assets to any foreign dictatorships? Have Swiss banks ever done that before?
I'm curious abt opening bank acct #2 w/ cash (no electronic transfer), using my savings from acct #1 where my SSA & OPM income arrives. I wanna keep paying bills if my income cuts off. Feasible, or wld a series of cash withdrawals from acct. #1 trigger red flags w/ bank?
Yeah; I was thinking of far smaller amts than that, like 1500-2000 per withdrawal > wait a cpl days > deposit into a new acct. Gonna have to study the frequency in which cash transfers may be flagged - e.g., max. 2x/mo, 6x/yr., etc. My problem is, as a federal retiree they have all my info. :\
Hey idiot elected Dems, have you learned nothing from history? The party that shuts down the gov over the budget LOSES THE MIDTERMS! Work with the Repubs to get whatever you can. Also, flapping your lips gets you nothing, the reason Trump is so popular right now is he is physically doing things.
He is only "popular" with those who are too stupid to see how he is attempting to destroy your rights and protections. How are those egg prices? Exactly! GTFO!
Yeah, the Felon is doing exactly as he had drooled when dancing his shitty hits, raping his red capped idiots (over eggs) and the sane Americans (who saw through the lies), from people's basic needs/money & savings/social programs/health &military. Now wants kingship, fuck dictatorship. 🤪
trump is only popular with the maga cult. He is doing a lot of stupid shit. The laws (Courts) are kicking his orange fat ass. He's self-destructing quickly.
Yes, as I have researched it and am doing it myself. It pains me to say this, but the happiest I feel right now is when I pull money out of my stateside accounts and deposit them and invest them outside the states.
We moved to Portugal eight years ago. First, absolutely love the place and people. Language challenging. We maintain a US address, bank accounts and financial portfolio. About two years in somehow the holder of our portfolio decided we were Portuguese resident and we had to cash in our Portfolio.
This is what I am trying to do. Health issues are dampening my efforts recently. Hopefully will have it cleared soon. Then full speed ahead. Thx for the info.
My bank won’t let me cash out a maturing CD. They were highly insulted that I would even ask and gave me a hard time. Manager called me back and said i was being ridiculous. Basically called me an idiot for listening to rumors. Which makes me even more suspicious.
Last month I walked in to the branch & it was empty - except for some old auditor looking guy who completely ignored me. I called the next day to ask the process for closing a CD. I got told I was a conspiracy theorist & they were so disappointed in me. Only problem is - where do I move it to?
Hubby and I have been talking abt this exact move for 8 mos. We're in the process of getting it done. I was hoping for a quicker exit, but just told my leech M-I-L today that her presence in my home is no longer tolerated. Start looking for your new home...FAFO trumper/MAGAT 🤷🏼♀️no empathy no fks left
Been here in PT for 14 months now. Unfortunately, I hoped to unplug from US news but that hasn’t been the case. Every English speaking news channel is still nothing but Trump and his hourly disasters.
Seriously. I had this conversation with myself as I laid awake last night. Be sure everyone has passports. Sort thru documents and get ready. Looked at Swiss bank acct, from USD>CHF, costs. Small $ here, county pension, SSAx2, small invest. Fin adv says everything’s fine. Ugh.
That's also why more invested Rs aren't sounding an alarm. They want to believe Trump is Santa not Satan, and their current portfolios seem reassuring.
I just retired, in process of consolidating invest in one place. One is w/ RBC (blatant R, “it’s fine”), Ameriprise is out on med leave “can I connect you to another advisor”, TRowe has my 401k. Looking at Edw Jones adv with good reviews, outcomes. We both have SSA, spouse county pension.
1)
House is paid for but…sell? Been here 40 yrs. Still would need at least rental, but would prefer to get out of US. Maybe start in Canada, hop to Eur…rural Switzerland or France? Portugal? How many will they take when they realize?
Double-check the income/asset requirements of the country of your choice & make sure you can still swing it minus the SSA income. Ireland, for example, requires US retirees to prove a minimum US $50,000/year. Each. Uruguay may be more your speed.
You can apply for a residence permit a few different ways one of which is buying property. The cost of living is also lower there. After five years you can apply for citizenship.
Also quite easy to get a visa for France. If you are a retiree, the USA-France tax treaty is probably the best in the world. the expat tax benefit in Portugal is no more. You do need to look into French estate tax issues, though.
Something else to be considering is along the lines of mutual aid in local communities. I’ll be looking into alternative currencies, time banking, barter systems. People have piloted this stuff. A town in Western Mass has their own currency. If nazis F up the economy, we need to make our own.
Why not? Close it out and redeposit. I’m concerned about the amounts you can take out of country.
Legally speaking (criminal law here) I think what you need to know is the tax status? Ask a really good CPA. Remember that at age 70 (72?) you have to take RMDs, required minimum distributions.
I think we’ll all be looking for places to put our money once the FDIC is destroyed, there will be a run on the banks,people will be scrambling to hold on to what’s left for them….IRA’s not sure, if anyone would know something like that it would be you George…if you find out spread the word
I’m guessing there will still be insurance of accounts, but a lot fewer bank examiners. Which means more bank failures. Don’t keep more than 250k in any one bank.
I think that destabilizing banks is on the list with the goal of pushing people to move savings from banks to crypto so Musk, Thiel, and other crypto bros can profit. Destroying the FDIC is the first step. Trump wants to buy crypto with Fort Knox gold to make Musk a trillionaire.
I called my broker (in TX of course🙄) and told them I no longer wanted them to manage my account, to move it to extremely conservative and she moved to cash & suggested I put it in a CD insured by the FDIC. I laughed and said that won't exist for long. I'll call u when I want my check.
This touches on it and offers some reassurance but points out that various factors can influence the safety of our money depending on alterations to rules, etc. So watch closely for those potential alterations. Too many tricks are being played on us.
Yes, it's possible to hold IRA assets in a Swiss bank account. This can be done by moving an IRA offshore to Switzerland, or by opening a Swiss bank account and investing in it
No, an IRA is required to have a U.S. custodian. However, you may want to look into moving into a self-directed IRA that can own assets like real estate, gold, etc., and can be under your control.
TD (my bank) is insured by FDIC.
Join a credit union, they are insured by a separate institution, are member owned and give a better return. I just invested in CD with a 4.00 apr, one year minimum $500.
Affinity. $10. to join.
Yes, IRA assets can be held in a foreign bank account, but there are strict rules. The key is using a self-directed IRA (SDIRA), which allows for offshore investments, including accounts in Swiss banks.
No, Portugal doesn't tax withdrawals from a U.S. Roth IRA if you qualify for the Non-Habitual Resident (NHR) tax regime.With NHR, US pension income is taxed at a flat 10% rate, but Roth IRA withdrawals are considered non-taxable as they are post-tax contributions. Without NHR status its different.
I’ve been researching this for a little bit. Shame the real estate purchase option is gone.
But I still love this idea: low crime rate, stable government… better than average compliance with mask wearing during the COVID pandemic. Beautiful country, lots of British ex-pats…
And closer to the Alps for skiing :-) Priorities! Seriously though, if you get more info, yell!!!! I've started casually looking at options like this, but not hard. I'm close to be able to retire anyway.
You can buy real estate all you like… but it no longer counts as an investment for obtaining the golden visa (this was a recent change to combat spiking real estate prices).
There are several investments that count, for instance donations to arts and culture initiatives, and more topically the investment funds… since it does not appear that you give up the money (like the art donation), but merely keep it in the fund for a prerequisite amount of time… seems better!
When I mention this to people they act like I’m crazy. Literally crazy. They are concerned about my mental wellbeing. Imagine living in that reality. I’m losing sleep and they’re waiting for their energy bills to get cut in half.
See if you can borrow someone's kid for a couple of hours. Better if they're crazy energetic. Then you'll only have one really annoying thing to worry about! 😆
Mine are past the energetic stage, but I don’t think the worrying ever ends. It seem unfair that little kids get the energy and we’re always telling them to sit still, and at my age I could use some energy. All I want to do is sit still. 💙
I do volunteer work doing taxes for seniors. Not supposed to talk politics, but whenever I mention that “who knows when they’ll get their refund”, due to Elon taking over the computers, everyone moans and mutters in commiseration. There’s a lot of confusion and concern.
Yes! I was told I sound like the Pizzagate people, so then I start questioning reality. Then I read more, then I realize there’s actually other things to worry about that I hadn’t even considered. Then I see the asteroid odds have gone up and I feel a little better for a moment. 🤦🏽♀️
Trump creates billions of dollars worth* of digital currency. Trump makes digital currency acceptable payment to the government. The government puts national parks up for sale to 'raise money'. Trump buys them with his fake money. It's all becoming clear now.
(*'worth' being arbitrary)
Becoming clear NOW!! My fucking god did millions not listen, process, believe or have the courage to read a TINY bit of p25? We got slapped in the face and hammered on the head knowing this corrupt oligarch regime would decimate our democracy, our nation and our country. We were warned
Project2025 seems so radical, plainly illegal and unconstitutional, that most who did read it didn't believe it could be implemented. Most, like myself, thought laws were strong, courts impartial, representatives honorable, and the people resilient enough to resist it. None of those things are true.
Expose who he is giving money to, protect voting machines, encourage people to check their ballots to ensure accuracy (civic duty) and keep the ballots for a while.
Actually I have An appointment with my financial advisor next week along these very lines 😱 I hope next week isn’t too late nothing but slow $$ damage since Nov 20
But where can you put it? I mean taking it out & in bank no.. but even if you moved it to another country you do realize that if this 🍊cunt tries anything bad w our savings/money the whole planet will be impacted, right? I mean Switzerland is on this planet? 1/2
You are of course right! I have considered this myself. With the final implementations of P2025 in works , removing generals who will say no, power grab with the EO that came out essentially giving control of the purse to the president and away from congress. Arm yourselves!
I cannot give the best advice. The liquidation part is easy. Wire transfers are easy. I use Wise. The foreign acct is trickier. Maybe some countries don’t require citizenship nor residency. IDK. Some countries are easy for residency. Mexico is one. Bet there are others.
I'm reminded of the episode of Scrubs in which Turk asked an Investment Banker what he should do with the $500 he saved up. The answer was "I don't know, a wallet, a money clip".
IKR 😬. I’m about to get hosed. I can begin to take distributions shortly - I’m considering emptying the account and then getting back in the market when Trump craters the economy…….if we’re not in a Civil War or World War 3.
I was told that you might be safer putting your money into some very secure stocks right now because all of Trump‘s rich friends except for the crypto guys have money tied up in the stocks and they’re not going to let the stock market tank.
I don’t have a lot in there though
My cousin recommended Germany to me. She was there in the 80's with her military family. Said they were nice people, had a good government, and spoke enough English and were willing to help you learn German. Which she recommended.
I don't mind them being quiet. I would much rather hear their targets complaing about what they were able to accomplish and wondering who did it to them!
All that account does is pass along the same protest memes everyone else posted the day before and chastise people who don’t think and act *exactly* how they state *everyone* should think/act.
I don’t know if any actual Anonymous “hacker” runs it…it’s WAY too preachy to be real Anonymous.
Any wonder why so many Americans and people around the world are migrating to cryptocurrency?
Despite some unsavory actors, including Trump, holding your own keys in a truly decentralized blockchain is a hedge against dictators taking control over your bank account.
My friend has a *very* modest 401k and if she liquidates it, pay the taxes/penalties, she’ll have enough to buy a small travel trailer/caravan to live in somewhere, if she can get residency. She’s an RN. Where should I suggest my friend go? 😬
Canada. They need nurses, but you need a job offer to get the provincial nursing license and a visa. At least that’s what I’ve been able to figure out so far.
Comments
https://swissonetrust.com/fee-and-advantages/
Look at them rosebud spellins!!!
My cousin did?
Actions speak louder than words! We need a solution not continue talking about the problem!
scroll down to get to the specific question on Swiss accounts
Basically, the sale value of your bonds would drop, and rates would go up on any debt/interest benchmarked to treasury yields.
I'm pretty sure I won't sleep all night now!!!
Last night it was lock your credit! I didn't sleep well last night either!!!
It's crappy because no one wants to gamble with their life savings.
What's more, as Americans, you'll have a hard time finding a Swiss bank that will accept you.
I started looking into that as well.
https://www.cjonline.com/story/news/crime/2024/05/28/kansas-bank-ceo-embezzled-millions-in-crypto-scheme-that-killed-bank/73843999007/
The problem is if they go into Fort Knox and say all the gold is gone and the Biden administration stole it, then they’ll say there’s nothing backing up the dollar and say you must put what is left in your banks into cryptocurrency
For a foreign bank account as a US citizen, the bank is obligated to report it to US authorities, whether you declare it or not. If not they lose access to ability to do USD transactions.
USD in a Singapore bank is safer than USD in a US bank.
Overseas Americans are taxed on ALL income over $126K, with credit for foreign taxes paid
Canada doesn't tax non Canadian sourced income when you reside overseas
A guy I know, now a billionaire, dropped his US for Canadian citizenship, pays nothing to Canada. $$$
Standard I-am-not-a-CFP disclaimer :-)
Foreign funds will melt down a little bit less.
BRICS maybe even less.
Each major brokerage usually has an assortment of foreign financial instruments available.
Relies on self reporting. 😉
Maybe it gets atax giveaway to corps bump but it’s hard to see how government layoffs and funding cuts won’t impact the rest of the Econ hard
I've been waiting for a huge 2023 refund because I finally made enough to get to a wealth guy aka shelter specialist and learned about tax loss bonds. Another refund for 2024. They are moving very fast and boldly.
I am fortunate but not safe.
I wish the repubs had a spine.
It would not take many sane republicans to impeach this mofo
https://www.afge.org/article/124-billion-in-federal-benefits-on-house-republicans-chopping-block/
If structured properly, an investment property can provide solid cash-on-cash returns and potential appreciation, even in uncertain times.
No one seems to be talking about this.
So they've found a way to destroy both.
Don't forget to thank #@senategop #@housegop today! Their deliberate attempt to install a dictator and destroy the nation should never be forgotten.
GEORGE CONWAY 2028
IMHO
https://gellerreport.com/2025/02/doge-prepares-to-audit-fort-knox.html/
They charge huge fees to hold it, sell it, buy it.
The larger firms will buy gold in almost any major currency and in small or large quantities.
It isn't like that anymore is it?
Get used to that shit, because change is coming. Probably not for the better.
https://www.usatoday.com/story/news/politics/2025/02/18/elon-musk-gold-fort-knox/79102837007/
https://youtu.be/ehukpdse8_w?si=mg_P2MBLqDDsTM6I
We don't want that.
You can't draw SS in North Korea, for instance, but many US expats in Mexico and Central America live on their SS or VA pensions.
I know people joked about Ireland but it is a very likely possibility!
That's also why more invested Rs aren't sounding an alarm. They want to believe Trump is Santa not Satan, and their current portfolios seem reassuring.
1)
😳
Legally speaking (criminal law here) I think what you need to know is the tax status? Ask a really good CPA. Remember that at age 70 (72?) you have to take RMDs, required minimum distributions.
This touches on it and offers some reassurance but points out that various factors can influence the safety of our money depending on alterations to rules, etc. So watch closely for those potential alterations. Too many tricks are being played on us.
Nothing is safe.
I asked them if my accounts were safe if anything should happen with the banks-
My branch said they are separate from us banks
Let’s hope nothing happens 😬
Join a credit union, they are insured by a separate institution, are member owned and give a better return. I just invested in CD with a 4.00 apr, one year minimum $500.
Affinity. $10. to join.
Thx!✌️
No one is safe from the orange menace.
https://nomadgate.com/portugal/funds/
Asking for no particular reason.
But I still love this idea: low crime rate, stable government… better than average compliance with mask wearing during the COVID pandemic. Beautiful country, lots of British ex-pats…
It's a gorgeous place.
(I've asked about moving there. They cite the high prices & low land ownership.)
Too poor to help myself.
Back to the salt mines.
Fact is, they won't be. Trump is fully capable of causing worldwide financial disaster.
(*'worth' being arbitrary)
The interference here will be almost 100% at the party level and through legacy & social media.
You might be thinking of a party leadership race. Some of those have been done online. (And thus are subject to shenanigans.)
If your friend finds out more info, let me know.😉
Answer is NO.
Take the tax hit and move it offshore is my advice.
You’re on their enemies list, #GeorgeConway.
Luckily I’m a dually.
I don’t have a lot in there though
I don’t know if any actual Anonymous “hacker” runs it…it’s WAY too preachy to be real Anonymous.
Despite some unsavory actors, including Trump, holding your own keys in a truly decentralized blockchain is a hedge against dictators taking control over your bank account.
CIBC Bank.
RBC Bank.
The 2 I've heard manage investments profitable...