Ross Anderson
๐ค PersonAppearances Over Time
Podcast Appearances
Yeah.
Yeah, so just as we've been talking about here today, I think the first question is how secure of a position are you in? Ellen has done a great job of creating really a battleship full of cash that she can go to war with if she needs to. And so even if there is job uncertainty or an interruption there, I think she's put herself in an incredibly strong place. Not everybody's in that position.
Yeah, so just as we've been talking about here today, I think the first question is how secure of a position are you in? Ellen has done a great job of creating really a battleship full of cash that she can go to war with if she needs to. And so even if there is job uncertainty or an interruption there, I think she's put herself in an incredibly strong place. Not everybody's in that position.
Yeah, so just as we've been talking about here today, I think the first question is how secure of a position are you in? Ellen has done a great job of creating really a battleship full of cash that she can go to war with if she needs to. And so even if there is job uncertainty or an interruption there, I think she's put herself in an incredibly strong place. Not everybody's in that position.
So if you are concerned about the economy affecting your job and you're not in a place where you could live more than weeks or a couple months without an infusion of cash from somewhere, to me, that represents a risk. And so even though I want to treat economic uncertainty as a spot to go harder at my investments, I want to add cash.
So if you are concerned about the economy affecting your job and you're not in a place where you could live more than weeks or a couple months without an infusion of cash from somewhere, to me, that represents a risk. And so even though I want to treat economic uncertainty as a spot to go harder at my investments, I want to add cash.
So if you are concerned about the economy affecting your job and you're not in a place where you could live more than weeks or a couple months without an infusion of cash from somewhere, to me, that represents a risk. And so even though I want to treat economic uncertainty as a spot to go harder at my investments, I want to add cash.
I want to be a harder saver when things look like they're opportunistic. I would caution anybody to do that and certainly don't put yourself at a higher level of risk if that's the position that you're in. So having enough money to live on is always job number one.
I want to be a harder saver when things look like they're opportunistic. I would caution anybody to do that and certainly don't put yourself at a higher level of risk if that's the position that you're in. So having enough money to live on is always job number one.
I want to be a harder saver when things look like they're opportunistic. I would caution anybody to do that and certainly don't put yourself at a higher level of risk if that's the position that you're in. So having enough money to live on is always job number one.
To me, the big question is going to be timing and taxes. So number one on the timing, and again, we talked about this just a bit, which is when do I have easy access to my accounts? If you retire after the age of 55, you can typically touch your 401k accounts that were with an employer. After 59 and a half, you generally have easy access to all of your IRA accounts or Roth IRA accounts.
To me, the big question is going to be timing and taxes. So number one on the timing, and again, we talked about this just a bit, which is when do I have easy access to my accounts? If you retire after the age of 55, you can typically touch your 401k accounts that were with an employer. After 59 and a half, you generally have easy access to all of your IRA accounts or Roth IRA accounts.
To me, the big question is going to be timing and taxes. So number one on the timing, and again, we talked about this just a bit, which is when do I have easy access to my accounts? If you retire after the age of 55, you can typically touch your 401k accounts that were with an employer. After 59 and a half, you generally have easy access to all of your IRA accounts or Roth IRA accounts.
But if we're thinking about anything before that, or we're thinking about needing to buy a home, then we got to go, well, where's that money going to come from? Is it going to come from me selling my current residence and taking that equity out and then using it to rebuy something? Or do I really need to save specifically for that goal?
But if we're thinking about anything before that, or we're thinking about needing to buy a home, then we got to go, well, where's that money going to come from? Is it going to come from me selling my current residence and taking that equity out and then using it to rebuy something? Or do I really need to save specifically for that goal?
But if we're thinking about anything before that, or we're thinking about needing to buy a home, then we got to go, well, where's that money going to come from? Is it going to come from me selling my current residence and taking that equity out and then using it to rebuy something? Or do I really need to save specifically for that goal?
So I really think of that as the kind of timing and where the money is going to need to come from. We need to kind of map that out. The second big piece is always going to be taxes. You do need to understand how international taxes work. And that is a highly, highly specialized area of expertise where... Every single country might be different.
So I really think of that as the kind of timing and where the money is going to need to come from. We need to kind of map that out. The second big piece is always going to be taxes. You do need to understand how international taxes work. And that is a highly, highly specialized area of expertise where... Every single country might be different.
So I really think of that as the kind of timing and where the money is going to need to come from. We need to kind of map that out. The second big piece is always going to be taxes. You do need to understand how international taxes work. And that is a highly, highly specialized area of expertise where... Every single country might be different.
And so knowing how the taxes are going to interact, I would find a blog that is dedicated to exactly the country you're thinking about and find an expat community in that country. Because I think that's going to be your best resource for either finding a really good CPA to work with or hearing the experiences of other people that have moved to the exact place that you've gone.