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Search: Posts Made By: trirod
Showing results 1 to 25 of 30
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Forum: USA
Mar 29th 2024, 12:12 am
Replies: 5
Views: 536
Posted By trirod

Re: Sale of UK Rental Property

To add to Glasgow Girl’s excellent summary, just be aware that you will be translating into US dollars at the time of each respective transaction. So your cost basis will be the purchase price in GBP...
Forum: USA
Mar 29th 2024, 12:04 am
Replies: 18
Views: 1,196
Posted By trirod

Re: UK Personal Pension Advice

My UK “personal pension” is similar to a US IRA in that it was nothing to do with my employer (I set it up myself and there were never any employer contributions). I’m pretty sure this is not...
Forum: USA
Oct 7th 2023, 7:36 am
Replies: 10
Views: 1,997
Posted By trirod

Re: Which of my UK “pensions” are subject to WEP?

Although the way I read the rules for the situation where you have between 20 and 30 years of substantial earnings is that the maximum WEP reduction is reduced by 10% for every year over 20 years,...
Forum: USA
Oct 7th 2023, 6:30 am
Replies: 10
Views: 1,997
Posted By trirod

Re: Which of my UK “pensions” are subject to WEP?

That makes a lot of sense to me. Thanks.
Forum: USA
Oct 6th 2023, 5:27 pm
Replies: 10
Views: 1,997
Posted By trirod

Re: Which of my UK “pensions” are subject to WEP?

Thanks for the information - very helpful. A further question regarding the personal pension associated with contracting out of SERPS. I did recently turn 55. The balance in there is not that large...
Forum: USA
Oct 6th 2023, 1:12 pm
Replies: 10
Views: 1,997
Posted By trirod

Which of my UK “pensions” are subject to WEP?

I keep thinking I understand this area, but then get confused. I am a dual UK/US citizen living in the US. I have the following UK pension type sources:

- Basic state pension, with about 7 years...
Forum: USA
Jun 30th 2017, 9:46 pm
Replies: 19
Views: 1,592
Posted By trirod

Re: Social Security in the USA

Running the numbers, it's not a bad return on investment (especially since it's guaranteed), but you have to take into account the time value of money also.


Let's say you earn $100,000 per annum...
Forum: USA
Jun 30th 2017, 8:14 pm
Replies: 19
Views: 1,592
Posted By trirod

Re: Social Security in the USA

Possibly not after adjusting for the WEP...
Forum: USA
Jun 30th 2017, 4:11 pm
Replies: 19
Views: 1,592
Posted By trirod

Re: Social Security in the USA

You can't claim back the taxes you've paid but you will be entitled to Social Security payments when you reach retirement age. Usually you need 40 quarters (10 years) of payments to be entitled to...
Forum: USA
Jun 28th 2017, 9:21 pm
Replies: 36
Views: 3,723
Posted By trirod

Re: Cost of living for retirees: USA vs. UK

I get that. Every time I visit there I always forget how long it can take to get places. In Toledo, everything is 20 minutes or less away!
Forum: USA
Jun 28th 2017, 9:17 pm
Replies: 36
Views: 3,723
Posted By trirod

Re: Cost of living for retirees: USA vs. UK

Respectfully disagree. I have a pretty good handle on what kind of expenditure my assets and income streams will support (based on historical returns of various investment classes and a hoped for...
Forum: USA
Jun 28th 2017, 9:11 pm
Replies: 36
Views: 3,723
Posted By trirod

Re: Cost of living for retirees: USA vs. UK

I would expect to be back in the US for my "permanent" retirement by the time I hit 65 and am eligible for Medicare. The UK thing is supposed to be temporary (but maybe we'll really like it, who...
Forum: USA
Jun 28th 2017, 12:28 pm
Replies: 36
Views: 3,723
Posted By trirod

Re: Cost of living for retirees: USA vs. UK

Thanks for the responses so far. We are both dual citizens and have built up decent credits for both social security and the UK state pension, so that's not too much of a concern. As far as...
Forum: USA
Jun 27th 2017, 9:33 pm
Replies: 36
Views: 3,723
Posted By trirod

Cost of living for retirees: USA vs. UK

I've lived in the US (Ohio) since 1995 and am planning to retire fairly soon, before the age of 65. I have been tracking my expenses very carefully for the last few years and think I have a pretty...
Forum: USA
Oct 19th 2016, 11:47 am
Replies: 22
Views: 1,597
Posted By trirod

Re: Anybody fly out of Canada to Europe?

I'm pretty sure I'll be doing the same thing. The savings are too good to pass up. And I have to pay for parking at Detroit anyway so that's just a wash. It will be even better in the summer when I...
Forum: USA
Oct 17th 2016, 8:08 pm
Replies: 22
Views: 1,597
Posted By trirod

Re: Anybody fly out of Canada to Europe?

Unfortunately the nonstop flights to Manchester are seasonal and ended September 30th. Good to know for future reference though.
Forum: USA
Oct 17th 2016, 8:07 pm
Replies: 22
Views: 1,597
Posted By trirod

Re: Anybody fly out of Canada to Europe?

Thanks for that information. Just checked them out and the prices are a little higher than Delta/KLM/Air France, but I like the fact that they're nonstop. They don't fly every day though and not...
Forum: USA
Oct 17th 2016, 4:18 pm
Replies: 22
Views: 1,597
Posted By trirod

Anybody fly out of Canada to Europe?

Looking at making a quick trip back to the UK next month. I usually fly out of Detroit (to Manchester) and the price is always somewhere around $1,200 (with Delta or their partners). And indeed for...
Forum: USA
May 2nd 2015, 12:04 pm
Replies: 2
Views: 659
Posted By trirod

Re: Tax Professional

PM sent
Forum: USA
Apr 16th 2013, 7:22 pm
Replies: 5
Views: 973
Posted By trirod

Re: US based, CGT on sale of UK property

Sounds more or less right from the US side, except a couple of things to bear in mind:

The Sec. 121 exclusion for sale of principal residence does not apply to the recapture of depreciation from...
Forum: USA
Dec 5th 2012, 9:37 pm
Replies: 21
Views: 3,400
Posted By trirod

Re: UK/USA capital gains tax help

Your accountant is correct. I think a better option than having your husband's sister take the whole flat and gift half the proceeds to your husband (which the IRS could easily look through as to...
Forum: USA
Dec 5th 2012, 9:29 pm
Replies: 28
Views: 3,472
Posted By trirod

Re: Are we being ripped off for car insurance?

What state you're in can make a tremendous difference. I live in Ohio which is one of the cheapest states for car insurance. I pay $866 a year for 5 cars (admittedly the newest car is a 2004, but I...
Forum: USA
Sep 28th 2012, 1:24 am
Replies: 69
Views: 8,774
Posted By trirod

Re: US Move; What Did you Miss?

+1 - wow, that's almost identical to what I would have put, except I would take out pickled onions and add roundabouts (aren't 4 way stops the dumbest invention ever?)
Forum: USA
May 25th 2012, 8:34 pm
Replies: 31
Views: 5,726
Posted By trirod

Re: would you rent out or sell UK house?

This is a hard decision. We rented our house out for 5 years but then got our green cards and figured we weren't going back any time soon. We also figured we would need to spend some money shortly...
Forum: USA
May 15th 2012, 8:38 pm
Replies: 21
Views: 2,089
Posted By trirod

Re: Yet another uk house sale thread

I get that nobody wants to conceive that you can have a gain on a mortgage in a foreign currency, but that's exactly what can happen. Here's an extract from a KPMG write-up on expats coming to the...
Showing results 1 to 25 of 30
 
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