Investment opportunities for US/UK

[resjudicata]

Does anyone know what possibilities for retirement investments there are for a US citizen living in the UK?

Was thinking ROTH IRA or a high interest saving account. Looking to save for future and UK is not my long-term goal

 

[whitesunshinee]

@resjudicata I believe you can do a ROTH IRA or similar, however, if you are working in the UK and enrolled into the pension scheme, you can also look at SIPPs as a way of reducing potential tax?

I'm not a financial advisor, just some bits i've picked up from different websites, mainly Investments for Expats.

I did read that Morningstar has a platform and they have something for US expats, unsure if it is available for US in the UK.

Hope it helps a little bit, sorry I don't know more. Just some bits that I've read.

 

[mfinnergab]

@resjudicata If you put money into a UK pension, you cannot take anything out until you are 55 (this age is going up soon).

If you are employed in the UK and

• you are in a higher tax bracket;
• or your employer is paying a good match into your pension;

then you really should set up the UK pension, with an eye to withdrawing from it when you retire. It's money wasted on UK income tax if you don't choose the pension.

Apart from that, you should focus on investments in the country where you plan to retire, and in the currency you plan on spending when you retire. However, if you don't have an IRA already, I think you will have difficulty opening an account unless you go back to the USA and do it there.