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Taxes / Converting tIRA to Roth IRA - must you be eligible to contribute to a Roth?
« Last post by GOFU on February 05, 2018, 06:03:27 AM »
Let's say you want to convert as much of your tIRA to a Roth IRA as you can in a given year. In order to do that is it required that you be eligible to contribute to the Roth in the first place?

In my case I am not eligible to contribute to a Roth IRA (or a tIRA) because all of my income is excluded from federal income tax under the FEIE. Does that preclude me from converting part of my tIRA to Roth?
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Taxes / General tax resource for those covered by the FEIE
« Last post by GOFU on February 05, 2018, 05:55:19 AM »
Hey man, thanks for the pdf on harvesting capital gains. 100% of my income is excluded from federal income tax by the FEIE. Do you know a good comprehensiive resource on how that impacts the capital gain harvesting and Roth IRA conversion scenarios you have mastered?

Thank you for sharing these skills with your readers.
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Expat life / Re: Living abroad and estate plannin
« Last post by GOFU on February 05, 2018, 05:41:46 AM »
Here's what I did: I set up a trust in the USA and all financial assets are in the trust or will go to the trust. Taxable accounts, IRAs, 401k, life insurance proceeds, bank accounts, rental property, etc. All of it. We keep no significant financial assets anywhere outside the US. We manage all our stuff by computer and phone (and hardly ever by phone any more).

I see absolutely no need to move your financial assets to another country. In fact the idea of doing so seems completely absurd. If you are not earning enough to live on in the foreign country, you transfer what you need to live for a time from the US and leave the rest where it is according to your investment plan. When you need more money you have it sent over.

As for real property in the foreign country, you could title it in both names as husband and wife, and probably even add your beneficiaries' names to the title also to ensure the benefaction you want. If the place is so lacking in rule of law that you can't do that, then you probably should think twice about investing in real assets there.
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Digital Nomad Life / Re: Do you have a home base?
« Last post by gocurrycracker on February 04, 2018, 11:31:57 PM »
* Reno, Nevada

States w/ no income tax:
Alaska (actually pay you to live there)
Florida
Nevada
South Dakota
Texas
Washington
Wyoming
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Digital Nomad Life / Re: Do you have a home base?
« Last post by aj76er on February 04, 2018, 04:02:03 PM »
I've thought about this too. Would be interesting to find an area with low property taxes, no (or very low) state taxes, and in an area/climate that didn't require too much maintenance (e.g. away from coastal areas). Also, having an area that people would like to visit (i.e. catered to a "niche" activity so it would be easy to AirBnb). Some examples:

* A tiny condo in a Colorado mountain town
* Something in Memphis or Nashville
* A small place in WA Gorge
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Digital Nomad Life / Re: Do you have a home base?
« Last post by MightyInvestor on February 02, 2018, 02:25:14 PM »
This is amazing to me; I love the idea and I'm going to be seeing how I can incorporate more nomad-ness in my planning.  Thanks for the answers!

Jabbott,

Go for it! I definitely suggest giving a trial run (as in don't burn bridges unnecessarily) before you jump in. Pearceonearth.com is another good example of someone pulling this off.  Cheers!
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Digital Nomad Life / Re: Do you have a home base?
« Last post by jabbott on February 01, 2018, 05:25:21 AM »
This is amazing to me; I love the idea and I'm going to be seeing how I can incorporate more nomad-ness in my planning.  Thanks for the answers!
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Digital Nomad Life / Re: Do you have a home base?
« Last post by MightyInvestor on January 30, 2018, 09:41:12 AM »
I personally do have a home base of Colorado, but not in the sense that I've bought property--just that that is where I spend the most time and have deep family and friendship ties there.  I'm with GCC that one doesn't need to be in a huge rush to buy property, especially in places where the cost to own has shot to the moon. 

My second quasi home base is Croatia where I lived for three years and have a lot of connections as well.  I spend a lot of time there every year.  I'd probably make Croatia my permanent home base if I could do so legally.

My sense is that people tend to want to get a home base a bit more as they pass from 20s or 30s into their 40s or later.
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Digital Nomad Life / Re: Digital Nomad Life
« Last post by MightyInvestor on January 30, 2018, 09:37:11 AM »
Fair points, all.  For sure.
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Digital Nomad Life / Re: Do you have a home base?
« Last post by gocurrycracker on January 30, 2018, 08:48:59 AM »
We are about 5 1/2 years into semi-nomadic living. We've never had a home base.

If we like a place, we stay. If we feel restless, we move on. Nothing is permanent, even a decision to have a home base. You can try with and without and see which feels right.
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