Hi there,
This week I got an unexpected windfall over a bit over $200K net. I need to think what do to with it!
I earn $350K per year. I live in NYC. I am 49 years old.
I am Australian and one day when I plan to retire it will be back there. I have no immediate plans to retire within the next 5 years.
In terms of assets, outside the windfall I have:
- $147K cash in bank.
- $14K FaceBook stock
In Vanguard index funds I have:
- $164K VBTLX
- $52K VTIAX
- $451K VTAX
In a Vanguard Roth IRA I have
- $7K VBTLX
- $22K VTSAX
In my 401K I have
- $50K in PGBOX
- $483K in SGAA
In Australian superannuation I have $28KUSD (MLC)
And in Australian Vanguard I have $125USD in the Vanguard Australian Shares Fund.
So, any ideas what I should do with this money to make it work for me? Any ideas gratefully received.
Thanks!
Barry
Sudden windfall, what should I do? [Australia ex-pat in US]
Re: Sudden windfall, what should I do? [Australia ex-pat in US]
This thread is now in the Non-US Investing forum (Australia ex-pat). The expertise needed to answer the OP's questions is better addressed by those with experience outside the US.
-
- Posts: 5181
- Joined: Mon Jun 04, 2007 4:19 pm
- Location: UK
Re: Sudden windfall, what should I do? [Australia ex-pat in US]
Two thoughts on the above.
Firstly, be very careful indeed about the US tax consequences of an Australian superannuation fund. The US/Australia treaty does not cover these plans at all well in places. More in this article:
Superannuation – Let's Fix the Australia/US Tax Treaty!
And secondly, it would be very easy indeed when using 'Australian Vanguard' to fall into the US's horrible PFIC tax trap. Extreme caution required in this area:
Passive foreign investment company - Bogleheads