The importance of sticking to an investment plan | From the Trenches

We're The Brits In America

Richard Taylor and James Boyle are in the trenches, giving you the latest reports and their unfiltered takes on what’s going in the world of investing and financial planning.

There’s been a 25% increase in the markets from Oct 2023 to March 2024, followed by a noticeable downturn in April. Most of us know the importance of sticking to investment plans, but how do we create one, and how do we keep a steady hand in volatile times? Rich and James also talk about non-US investments for Brits living in America, and the inevitability of dealing with Passive Foreign Investment Companies (PFICs).

Also covered: Richard shares his reflections on turning 40 – it’s a milestone in our personal life but it’s also a key step along the way as we plan for our retirement.

The three key takeaways from this episode:

1. Market Volatility and Investment Strategy – financial markets are inherently volatile, it’s important to stick to investment plans and maintain a steady investment strategy despite fluctuations. Endure short-term losses, achieve long-term gains.

2. Tax and Investment Compliance for Expats – the complexities of managing investments in the US for British expats are numerous, navigating the tax implications and reporting requirements of PFICs is essential to know. It’s critical to be compliant with tax laws and potential consequences of mishandling foreign investments.

3. Personal Reflection and Life Planning – Ferris Bueller said it best (Richard’s 40 – excuse his dated references), time moves pretty fast, if you don’t stop and look around once in a while, you might miss it. Planning the time you have is essential – balance professional focus and success with personal satisfaction and wellbeing.

Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.