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Moving Back for the 2nd Time From USA to UK

Moving Back for the 2nd Time From USA to UK

Old Feb 24th 2020, 8:27 pm
  #16  
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Default Re: Moving Back for the 2nd Time From USA to UK

I liked that line from the Romania in the USA, "If you want to make money come to the US. If you want a life, go to Europe.". Pity that Westminster just pulled us out !
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Old Feb 25th 2020, 6:34 pm
  #17  
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Default Re: Moving Back for the 2nd Time From USA to UK

Originally Posted by MattOR View Post
If you leave the US but think you might return again then leave the 401k alone and let it mature, or roll it into an IRA. If you're moving back to the UK for good then I'd be tempted to cash it out now and convert it to sterling. You'd take the tax hit and pay penalties but you would also take advantage of the really good exchange rate.

I can relate to your other comments. I've been in Portland for the last 24 years (and love it still) but I'm starting to believe life in the USA is just one big con. Ridiculously expensive healthcare, no vacation, family on the other side of the planet, and a 40-hour paycheck for a 50-hour workweek are just a few examples of why I increasingly feel like I'm done here. I am married and financially responsible for the two of us so ripping up roots and moving overseas requires buy in and support from her. That's where the plan falls apart. She said she's willing to try but every time I initiate a serious conversation it usually ends with, "Lets just move to Virginia so I can be near my family. You will love it there if you just open your mind to it". Already been there and done that and am not doing it again. You on the other hand are only responsible for yourself and if I were in your position I would not hesitate. I would be on the first plane out of here.

Best of luck.
I did that very thing. what I lose in taxes here I will gain in a good exchange rate right now. So I cashed out already and transferred to the UK. I can re-invest there or buy property when the housing bubble deflates.

The US Government currently do not collect enough taxes to cover the running costs of their Government. So the rest is financed as debt. This is why the US National Debt is at $23 Trillion and continues to grow. Although Trumpy Bear would tell you this is the best economy ever lol. It is an absolute con job. And the citizens will end up paying for it down the road. A big S**t storm is coming here in the US, especially with the fast rising default rates on car loans and credit cards, plus inflated house prices. I will be making plans to leave the sinking ship. I feel fortunate I can leave.

A famous American once said "Ask not what your country can do for you – ask what you can do for your country,” This is exactly the brain washing that goes on here. The Government do nothing for its citizens except run up debt and make healthcare more costly and feed the rich. All you are doing for the country is bottom feeding and slavery to debt. Rant over!
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Old Feb 25th 2020, 6:38 pm
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Default Re: Moving Back for the 2nd Time From USA to UK

Originally Posted by scot47 View Post
I liked that line from the Romania in the USA, "If you want to make money come to the US. If you want a life, go to Europe.". Pity that Westminster just pulled us out !
Ha! I understand what you mean. He just meant in general people in that region get more vacation allowance. My last job in the UK I got 29 days paid.
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Old Feb 25th 2020, 6:39 pm
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Default Re: Moving Back for the 2nd Time From USA to UK

Originally Posted by GeniB View Post
I am so very sorry for your loss UK Brit... My condolences.The death of someone close does concentrate the mind on the important things in life. it is exactly as people tell you, life is too short ,so follow your dream and go to Tenerife You have nothing to lose, and everything to gain in experiencing a different part of the world. Good luck
Thank you for your kind words of encouragement. I just book my flight for the funeral. Concerned about the corona virus outbreak. Don't want to get stuck or sick.
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Old Feb 28th 2020, 11:59 pm
  #20  
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Default Re: Moving Back for the 2nd Time From USA to UK

Condolences on your loss.

I agree with other posters, it's time for you to go back to uk. You have no ties or kids -- do you know how many people long to go back but can't because spouse doesn't want to, or kids are at a crucial moment in schooling?!

You are lucky, you have the freedom to do it, it's just you. Go for it!

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Old Feb 29th 2020, 1:19 am
  #21  
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Default Re: Moving Back for the 2nd Time From USA to UK

Originally Posted by fulwood View Post
Hi I feel exactly like you do. I've been in US 35 years and have been very lonely. I wanted to travel and see different parts of the States. I moved to Texas and it has been a disaster.. Most of it is due to fact I hate Odessa but another part is outside of work I have absolutely no friends. I spend weekends alone, on computer for hours at a time. I then realized much as I want to see different states I don't want to do it alone. Had enough of being alone. I am moving back to Arizona. I have a few friends there but ones I only see maybe once or twice a month if I'm lucky. My life changed drastically when my brother died at age 49. In the early days of his cancer diagnosis when we didn't know how fast spreading it was we talked about living together and travelling around. I am still devastated by his death and what might have been. I do miss UK but not sure i can settle there either but I have maintained friendships but they have moved on with their lives and there may not be any room for me.. I am okay right now with decision to move to Arizona due to well paying job. The only other thing I will do before I make decision to move back to UK is to be closer to sister in Cali. We have strange relationship as she was adopted and I didn't see her until I was nearly 40. I have a nephew and brother-in-law which is rather nice for this rather lonely person. I wish I had better words of advice but wish you well whatever you decide to do. Just know there are others that can relate to your situation.
Originally Posted by UKBritExpat View Post
You read my mind. I fancy a camper van to go traveling. I have owned houses before. Have no desire to own another any time soon, especially in this current housing bubble.
When I left the US around 4-5 years ago I did a 6-month RV trip (with my motorbike on the back) around the US and Canada - started in SF, down to LA then across the bottom to Savanah, up the right hand side to Nova Scotia, across the top and back down - dropped into various places, Sturgis, Burning Man etc and also booked some REI hikes in the smokies, presidential peaks etc, plus dropped-by various homies across the place. Solo trip - a little difficult at times, but sooooooo pleased I did it and had a lot of fun.
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Old Mar 3rd 2020, 8:36 pm
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Default Re: Moving Back for the 2nd Time From USA to UK

Originally Posted by between two worlds View Post
Condolences on your loss.

I agree with other posters, it's time for you to go back to uk. You have no ties or kids -- do you know how many people long to go back but can't because spouse doesn't want to, or kids are at a crucial moment in schooling?!

You are lucky, you have the freedom to do it, it's just you. Go for it!
You are so right. Thank you. I am free. I am making plans now and should be home by end of April
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Old Jun 26th 2020, 4:21 am
  #23  
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Default Re: Moving Back for the 2nd Time From USA to UK

Similar situation to OP. Except over the last few years I lost both parents back in the UK. It is terrible to lose loved-ones when you are so far away. They were my connection to the UK.

I have a good job here--not brilliant pay, but better than I would have in the UK, and I have very good health care coverage. But I am so lonely here. I just can't connect. I've made very, very few friends in more than a decade, and mostly these friends are acquaintances. And I am fighting for promotion at work, but not sure it is worth all the stress.

I was wondering, if one retires in the UK, how much do you need to live a reasonable life?

Ed
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Old Jun 26th 2020, 7:29 am
  #24  
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Default Re: Moving Back for the 2nd Time From USA to UK

Streetlegal, So sorry to hear about your loneliness. In the end, what's most important in life? Human connection.

I am dreadful with numbers, but DH says to retire in the Uk and "live a reasonable life," probably in the north a minimum of £20,000 a year, and in the south more like £25,000, but of course it can vary enormously, depends hugely on lifestyle, housing costs, expectations, meals out, travel, whether you have a car or not, etc etc and others may have a totally different idea.

UKBritExpat, of course for you as for everyone coronavirus will have changed everything--presumably you came to UK for funeral and then had to stay. What has happened? Are you moving back here for good? Of course you haven't seen UK life as it normally is, in these months!
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Old Jun 26th 2020, 10:21 am
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Default Re: Moving Back for the 2nd Time From USA to UK

[/QUOTE]Oh first of all.... I have a a 401k question. I have some money in a 401k here. Should I leave it or roll it over to a IRA or take a hit and cash out the money now. I'm tempted to take the cash but I know long term that would be dumb.
[QUOTE]

Not sure if this was answered but I definitely would not leave it in the 401k as the provider is unlikely to fully support an overseas customer. I would either roll it over to an IRA with a brokerage that does support overseas customers or cash it in and pay the taxes plus the 10% penalty for early withdrawal.
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Old Jun 26th 2020, 12:52 pm
  #26  
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Default Re: Moving Back for the 2nd Time From USA to UK

I have zero housing costs and an income of £15,000 a year. Life is frugal on that income
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Old Jun 26th 2020, 8:09 pm
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Default Re: Moving Back for the 2nd Time From USA to UK

scot, when you say "life is frugal" are you saying that you have to be very careful with your money living on 15K?
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Old Jun 27th 2020, 9:25 am
  #28  
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Default Re: Moving Back for the 2nd Time From USA to UK

If you wish to move back to the UK and want a balance then Exeter is a great choice. It has grown a lot over the past 20 years and from there you have access to beaches and Dartmoor. Surrounding Exeter there are many smaller villages / towns to pick. It depends whether you like the hustle and bustle that Exeter offers. Great out of town park and ride schemes too so you don't need to fight the traffic every day.

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Old Jun 27th 2020, 8:20 pm
  #29  
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Default Re: Moving Back for the 2nd Time From USA to UK

Originally Posted by durham_lad View Post
Not sure if this was answered but I definitely would not leave it in the 401k as the provider is unlikely to fully support an overseas customer. I would either roll it over to an IRA with a brokerage that does support overseas customers or cash it in and pay the taxes plus the 10% penalty for early withdrawal.
Hi durham lad: can you briefly unpack your first sentence--that you would not leave funds in a 401k. Would it not be possible to withdraw money from a 401k when abroad after the appropriate age, or to have deposits made into an existing US bank account?
Thanks
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Old Jun 27th 2020, 8:38 pm
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Default Re: Moving Back for the 2nd Time From USA to UK

Originally Posted by Streetlegal View Post
Hi durham lad: can you briefly unpack your first sentence--that you would not leave funds in a 401k. Would it not be possible to withdraw money from a 401k when abroad after the appropriate age, or to have deposits made into an existing US bank account?
Thanks
Ed
in theory yes, but it very much depends on the 401k custodian. We have had a thread here or on UK Yankee where someone had moved to the UK and several years later the 401k custodian changed their rules and required overseas customers to empty their account. He didn’t have a US bank or brokerage to do an IRA rollover so was facing a US cheque in dollars plus the tax on the entire sum plus 10% early withdrawal penalty.

If you have your IRA with a large brokerage such as Vanguard, Fidelity, Schwab etc, you won’t be worried about such a problem arising.
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