RetireJapan

eslmedley wrote: ↑Sat Oct 30, 2021 3:36 am Can someone recommend a fee-only financial planner for US expats?

Trying to reach you by private messaging but apparently PM is restricted I don't have enough posts to do so. I'm not a financial adviser but am going through the same process. We could share notes and ideas. Reply here so I know you're interested and we'll find a way to hook up.

Sorry for the late reply! I can't DM either I guess. I talked to a few advisers based in Tokyo, but honestly, it all seemed a bit shady. In the end, I opened a brokerage account with Fidelity in the U.S., and I've got an appointment to meet with PlanVision recommended by Millionaire Teacher and Rob Berger (Forbes). They work with a lot of expats and the fee is very reasonable ($189 for the first year and $8/mo after that). Hope that helps!

I ended up using PlanVision who got me started with InteractiveBrokers.

Good advice to get started, but now it's a pain dealing with reporting the tax-related stuff on the JP side.

retiregem wrote: ↑Fri Mar 04, 2022 12:42 pm I ended up using PlanVision who got me started with InteractiveBrokers.

Good advice to get started, but now it's a pain dealing with reporting the tax-related stuff on the JP side.

Everything I read about IB is good, if I ever need a second broker, that'd be my choice.

Tho taxes here are a yearly 'pain', IMO a big advantage is that it keeps you involved in and aware of what's happening to your money. (And it'll be easier each year as you gain experience and familiarity.)

No, you don't need to be, and just knowing what's happening is not saying that you will turn into an active investor--passive investing and indexing is the way to go. But tax time forces a good look at what has happened in your account(s) over the previous year, at least some of which you'd want to consider going forward, for rebalancing, considering whether and how well you are on your long term trajectory, and so on.

Yes, but knowing what I know now I would probably just have had my wife open a Japanese brokerage account and we do everything through that, which would mean taxes are held correctly and less hassle for reporting to JP government. Then nothing to report to the US.

retiregem wrote: ↑Sat Mar 05, 2022 12:29 am Yes, but knowing what I know now I would probably just have had my wife open a Japanese brokerage account and we do everything through that, which would mean taxes are held correctly and less hassle for reporting to JP government. Then nothing to report to the US.

You would need to worry about the gift tax law with that route.

However, you will want a Japanese account regardless to take advantage of nisa/ideco if your spouse has no American residency/tax reporting obligation.

Very true!