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Digital Nomads - how to get your finances in order for working in another country

by Chris Saxton | at Minnebar 18 | 1:00 – 1:45 in Louis Pasteur | View Schedule

You want to be a digital Nomad and work while you travel the world! Awesome - the world is your oyster - but you should put some thought into the financial planning before you go!

In this session I'll try to cover some of the financial aspects you've probably haven't thought about but really can be nasty "gotchas".

  • How to avoid double taxation (the US is the only major country in the world to tax on GLOBAL income... oh joy!) If the country you are moving to has a tax treaty with the US you may be fine - but you still have to declare and file your taxes correctly... it's not always clear...
  • Selling property before you leave... be sure not to get caught out by the FIRTPA withholding for non-US persons (15% of the selling price...)
  • Access to US based accounts. FACTA rules increased compliance on US based asset managers meaning only a few will now work with international clients (that means you if you're living outside of the US). You want to make sure your custodian can continue to manage your money if you live outside of the US.
  • Currency exposure. Whether your moving a lump sum to purchase a property or have retirement assets in the US but plan on retiring abroad - managing your currency risk needs to be an important consideration as you plan. We'll talk different strategies to help limit risk here.

I'm the founder of Aberdour Investments - a small independent, fee only, fiduciary, financial advisor here in the Twin Cities and until last month (when I was laid off) I was also a Senior Product Manager at Entrust working on FinTech and identity products.

As an expat originally from the UK I've navigated the complexities of a cross-border transition.

Aberdour Investments exists to help others enjoy a global life with peace of mind.

www.aberdourinvestments.com

https://www.linkedin.com/in/c-saxton-940a03298/

All levels

Chris Saxton

Hello! - I am an independent financial planner for expats and global citizens through my solo practice - Aberdour Investments.

I've been doing this as a side hustle for the last 5 years with the plan to flip the switch once my kids were done with college in 4 years or so....

That was was until last month when I was laid off from my corporate gig. (I was a Senior Product Manager at Entrust working on digital payments and identity decisioning platform).

So here I am... hustling some more on my side hustle!

I'm originally a Brit coming and have lived in Spain, Arizona, California before settling in Minnesota for the last 10+ years.

Hopefully my experiences and knowledge can help you realize your dreams of being a digital Nomad!

I got my MBA in finance from St Thomas. Aberdour Investments is a Fee Only, Independent, Fiduciary, Registered Investment Advisor in the state of Minnesota.

Links: I have two seperate LinkedIn profiles (one for the corporate audience, one for financial planning audience)

Here's my corporate LinkedIn (Product Management focused): https://www.linkedin.com/in/chris-saxton/

Here's my Financial Advising LinkedIn: https://www.linkedin.com/in/c-saxton-940a03298/

Here's my firm website: www.aberdourinvestments.com

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