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I would love to see a video on filing US taxes when you live abroad. My friends who do this suggest that it is a real night mare. I'd love your perspective.

@DestinationRetirement

2 жыл бұрын

I second that request! I'd love to know that as well as I'm moving to Merida Mexico.

@druwsdaman

2 жыл бұрын

Would also be interested to hear if you are considering renouncing US citizenship and getting Portuguese citizenship in order to lower taxes.

@lindafinch6252

2 жыл бұрын

@@DestinationRetirement That’s awesome 😎 👏🏻 My daughters in-laws moved to PROGRESSO, Mexico 🇲🇽 last year from Spring, TX. They live right on the beach and they love it! They’ve already made so many friends that are expats as well. Safe travels and enjoy!

Having money in your savings but still telling people "im broke" is a different kind of discipline 😂

@OurRichJourney

2 жыл бұрын

Different kind of discipline. :) Thanks for watching!!! :)

@LifeofaLandlord

2 жыл бұрын

You ain't lyin

@ging-gingw2406

2 жыл бұрын

Isn't that a lie? How about not to talk about your money at all. Let them talk!!!!

@viceanterra3

2 жыл бұрын

@@ging-gingw2406 not really. The savings is not to be spent. I'm broke to me means "I don't have any DISPOSABLE income". Savings is not meant to be disposable.

@SagRising19

2 жыл бұрын

@@viceanterra3 Very true!!

It’s important to know not only the states with no state income tax, but also the states which do not tax qualified retirement account income and Social Security income.

@jaxonwilson4722

2 ай бұрын

The Why I relocated from California to Pennsylvania !

One of the most important videos you have put out - ever. Thanks for the good advice!

I'm already subcribed, but I'll hit the "Like" button even before I watch the video because I know it's going to be good and full of helpful information 😊🙂 Thanks guys! Enjoy your day!

@lindawilmarth3300

2 жыл бұрын

Same !

Thank you both for the information; highly informative! I hate I missed the Tiffany’s session

Thank you for the info!

Hoping you guys would address what paying state tax looks like when you live abroad? Do you guys have to pay state tax from the state you used to live in or does living abroad make you exempt from paying state tax?

You two are great ! So glad I found your channel ! Keep it up !

Boy oh boy, I took a lot of notes on this! It's all about strategy and keeping those taxes at a minimum. Roth accounts are THE best! Amon and Christina, once again you've delivered such great content. Obrigada!

Great video! Thanks for sharing!

I've been waiting for this, thank you!

Thank the both of you. As always this was so helpful!👍🏼

@OurRichJourney

2 жыл бұрын

Thank you Vernon!!!

Such valuable information - thank you both! This is a saver to listen to multiple times in order to get the gist of all the important info you’re sharing!

Thank you guys, u just answered a question that was bugging my mind. Am grateful for u and pray for you to be blessed. U made me understand what and why am working hard and I started investing with a goal, all because I understand financial matters better than before. Thanks to you again, you are changing people's life's, be blessed!

Reducing taxes? I’m here faster than Bolt! Love you, beautiful couple! Beijos e bom domingo! 🇧🇷

@OurRichJourney

2 жыл бұрын

Hehe! Reducing taxes is a must!!! :) Thanks for watching Sol!

@ClassyPrissy27

2 жыл бұрын

😂😂

@stevenjustice8258

2 жыл бұрын

Republican?

@sol9877

2 жыл бұрын

@@stevenjustice8258 nope…we know, for the FIRE journey, that we must consider ways to reduce taxes in order to achieve our goals, and some of them can even contribute for the environment and society.

Very helpful. Thank you. I look forward to watch next video related to tax again!

Always good stuff on this channel, BIG THANKS 🤙🤙❤❤

I really appreciate the information you provide. It's clear and concise and has helped me greatly. Thank you.

Thank you so much. I didn't know that about the HSA accounts. You are so appreciated. ❤❤❤❤❤

Leaning a lot watching your journey and videos. First off, very easy to follow and clear examples makes it enjoyable. I have restructured our retirement strategy watching (and learning) from you both. I hope to one day retire early and enjoy life the way it was meant - stress free (at least financially!)

Thanks for another fab video! Love learning something new every Sunday! You all are the BEST! 💶+🇵🇹=🥰

Enjoyed and beneficial thank you

Great content as always. Thank you!

This video is so on time! Especially taxes on brokerage accounts. Let’s goooo

As Always Great Content...Thank you!

Thank you so much for another excellent video with more knowledge and tips. Your channel has been so helpful and like a blessing to me.

You guys, I just love your wonderful videos. You are so amazing!!!

Awesome information!! Clear, fun and easy to understand.

Great video. Concise and clear. Thank you!

Man I don't know what id do without you guys. I have bee studying to get my enrolled agent license and have been learning a ton about taxes and tax planning and I was starting to put things together and then this great video comes out to really help fine tune everything that I have been learning. Thank you guys for the great content because of you guys I definitely feel have a much better sense of my finances since I've started watching you guys a from the very beginning. I hope to reach FIRE one day with everything that I'm learning from you both.

Thank you so much for this video. I was stressing thinking about paying taxes when I retire.

Love your content and this one really hits home. Make money, keep money.

Wait if you make 34K your Social security gets taxed at 85 percent??? That's insane for such a low income.

You read my mind, 57y and having those thoughts about taxes. Thanks you smart couple for sharing your knowledge.

Awesome information!! You definitely have to be strategic.

Thanks for the HSA!

Do you pay taxes to withdraw $ from these accounts in Portugal? Would be nice to know how it works for retirees like you guys! Thank you for all this info!!!!

Very helpful . Thx so much

@Our Rich Journey .. because of you guys I enrolled in a HSA account with my job . Learned a lot from you two

Great information! Thanks

@OurRichJourney

2 жыл бұрын

Thanks Gil!!!

Excellent information as always! You guys are so inspirational and educational, win-win. So my take-away is have a knowledgeable CPA!

Your videos are the best!!

2 years ago I watched one of your videos on investment accounts that support FI. It opened my eyes wide to HSA accounts....better late than never! Great video as always!

Another great video!

Great information 👏🏾👏🏾👏🏾👏🏾

🤯 Yes love this information.. Thank you both for very important keys words I needed to research more on this. I had a bit of a handle in the back of my mind on this topic but this vid really gave a good breakdown. A must re-watch several times vid 🤓. Take care until next Sunday!!

Besides the 8 states with no income taxes there are other states (like IL) that have high income tax but does NOT tax on any 401K or IRA - so you don't necessarily need "no income" you just need "no state tax on IRA distributions". Just a clarification.

@jaxonwilson4722

2 ай бұрын

Illinois is considering changing this:/(

love the info and strategies presented in this video

Going to have to watch this again later. Very useful information.

@OurRichJourney

2 жыл бұрын

Watch it again and again! Hehe! :) Thanks for watching Danelle!!!

Great tips for early retirement and FIRE journey! Thank you Christina and Amon!

Great video and relevant information as usual :). What are your thoughts on Annuities?

📈Looking to learn how to invest? Enroll in our Stock Market Investing Course: www.ourrichjourney.com/investingforfire 🔥Learn more about financial independence and retiring early: Enroll in our F.I.R.E. Master Class: www.ourrichjourney.com/firemasterclass ✈Want to move to Portugal? Enroll in our Moving to Portugal Course: www.ourrichjourney.com/movingtoportugal

@willmallory9085

2 жыл бұрын

Excellent video Team.

@maguchka1952

2 жыл бұрын

Great video. Can you make same video but for taxes when you retire early in Portugal or Spain? It can be a rating of countries for retirement.

@kenesa

2 жыл бұрын

Would y'all recommend paying debt off using investments from a Brokerage account i.e. Invesco or Vanguard?

Thx 4 STRATEGY & EXAMPLES So very helpful. Love love loved the ball and chain clip hahaha ('Trouble Man' playin in my background). 👌🏾 ❤️❤️❤️😊

Thank you, Christina and Amon! I didn't yet know that the HSA money can also be used for non-medical purposes. That's a big game-changer in my thinking. Sending a hug from Porto and happy birthday to Sunoa! OMG 15 years already! Time is passing!

Great video with clear presentation of a tricky subject! Commenting on the tip to look at moving to states with no state income tax. Just remember that states need money to function and they’ll get it somehow. I’m in a state (Oregon) with no sales tax but our income and property taxes are relatively high. Next door in Washington, there’s no state income tax but the sales taxes and property taxes are high. Best of both worlds for retirees is to live in Washington but make most, or at least big, purchases in Oregon. Of course, people have other reasons beyond taxes in choosing where to love in retirement.

Thanks so much

Gr8 information thank U. Especially the 8 states without taxes.

Thanks for content. Is it recommended to move funds from a 401b to a roth account?

Good Afternoin my friends. Be safe happy and healthy.

Awesomeness!🥰

This video is right on time

Hey guys great content. Thanks a lot. I think I ve binge watched most of your videos last couple of days. And enjoyed it. I was just curious how much you pay on property taxes on your Portuguese properties. Thanks. Keep up with good work

You guys are awesome. Great tips. I set up a living trust and special wholelife insurance so our daughter and her children can build generational wealth. Especially from her documentary film and content creator earnings

thank you

Happy birthday Sunoa. U you out parents are blessing us with an impeccable knowledge. May your wisdom and knowledge grow astronomical.

This is a gem 💎

About the Roth, do you have any hacks for when you move to a country (like Portugal!) that doesn't recognize a Roth and requires you to pay taxes on the withdrawals?

Checking in from the DMV.

Parabéns, ótimo vídeo.

@OurRichJourney

2 жыл бұрын

Obrigada Tony!!!

How does Roth withdrawal work in Portugal at the new 10% NHR?

@BlaxitGlobal

2 жыл бұрын

I’m very curious about that also.

I found your channel a month or so and let me say you’re a wealth of knowledge and have given me the confidence to begin investing! Opened up a Roth IRA and made a full contribution. Next, I’m between maxing out a traditional 401k or a Roth 401k. Not certain if it’s best to defer 31% in taxes now (both state and federal) or pay the historically low taxes now and be tax free later. Quite the dilemma! I would appreciate your feedback!

I have the option of doing traditional AND roth style of 403b and 467b. Should I look at them as the exact same as Roth IRA? What should be the order of operations betweent these kinds of accounts?

Best video ever!

How do you access your money in a foreign country? I want to retire abroad but us banks dont transfer to forign countries and i cant find a good option other than taking money out from atm. What service do you use? Is it easy to pull from retirement accounts if your in Portugal?

Are dividends from VTSAX qualified dividends?

Thank you for this video. What retirements 457 account where you can withdraw at any age without penalty as long as you separate from service.

Another great video! No fluff, all meat!

This is great! Would you be able to do a video on taxes while living abroad? I understand there are many tax benefits to living abroad as a US citizen.

Hi Amon and Christina. Was wondering how is portugal doing on Covid these days? My family is interested in starting our own journey and wondering if now is a good time

So much good info to take in, had to watched it over and over again and take note. There goes the social security benefit, up to 85% tax? Good luck depending on social security benefit for retirement. Thank you

Just finished watching the stock market investing course 😃

@OurRichJourney

2 жыл бұрын

Very cool! Thank you!!! :)

I’m going to be more mindful of my choices of where to park my money. Helpful information, thank you. My great great grandparents on my mom’s side are Portuguese. Does that help me gain citizenship in Portugal?

Do you have to pay taxes in Portugal on Roth Income?

Thanks for the video! Does the tax law change now that you are tax residents of Portugal? I understand that as a US citizen, you are still required to pay US tax. But, for example, Portugal has a different system for capital gains tax.

Good point on withdrawing from your Roth account first because it's not tax at all.

Hi there! My husband and I are currently in the process of selling an investment property, and we want to diversify with the money from the sale. We are planning on reinvesting in a couple smaller rental properties and then the rest into our Vanguard portfolio. We are currently dealing with the confusion of 1031. Do y'all have any advice or resources that you've used as far as reinvesting money from an investment and the taxes that go along with it? Thank you! Love y'all's channel!

Can you contribute to a Roth IRA when you’re self-employed? Im wondering how do they validate “after tax contributions?”

Could you please do an episode of taxes in Portugal and how they affected your FI plan?

Thank you, I think I need to watch this a few more times. One thing I see a lot of people miss with the HSA is that once you are on Medicare you can use those monies for your premiums tax free as well. No one really mentions that but I swear I read it somewhere. Is it true?

You failed to cover ex-pat strategies like living in Portugal 🇵🇹.

Great video, thanks. Have you all done a similar video that covers the Portugal side of the equation? I've searched your channel, but unless I missed it, I don't see one. If you haven't done one, do you have any plans to? I'm considering a move from the US to Portugal, but want to better understand what my tax obligations will be in both the US AND Portugal (both with and without NHR) to plan my budget accordingly. I've yet to find clear information as to how Roth IRA withdrawals are taxed, for example. I *think* I understand how traditional IRA and 401K withdrawals are taxed, but wouldn't mind some info on that too. Another thing I'm not clear on. I plan to sell my house in the US, then move, but don't know if I'll be taxed on its capital gains when I get to Portugal. I'm sure you two have been through all this already and your insights would be appreciated. Thanks again for your videos

This channel has really helped me over the years! Fyi, I do a ROTH 403b for my contributions. Pretty cool!

Can a federal employee contribute to both Roth TSP and Roth IRA at the same time ?

Avoiding state income tax sure but don’t forget of the other taxes like property tax and if your asked me property taxes are out pacing income taxes in state. Salaries are going up as fast as property values in my area. Still do what’s right for your situation. At least you can get creative with property taxes.

I don't see you mentioning Roth 401k any thoughts on that? Since they can take more money

What are your guys’ opinion of the new bill about Roth IRA conversion and closing the loophole??

Does Portugal tax you on Roth withdrawals, or are Roth accounts only considered exempt from US income taxes?

@FreeToBe_Me

2 жыл бұрын

My research showed that the UK and France respect Roths as tax-free income but not Portugal. As they always say: Consult your own tax advisor.

This is so good. I have already considered retirement in TX or FL. Thank you! I wonder how you are impacted out of the country.