
How to Make Your Investment Income TAX FREE!It’s like an instant 50% rise in what income you thought you had… Ever wanted to live abroad and retire to a tropical island? Here’s a good reason to do just that. A little-known 100% legal loophole allows any American citizen to earn up to $78,000 a year. IF they are in the USA for less than 30 days a year (just enough time to visit friends and relatives). Maybe your retirement plans were based on having to pay tax? If so, and if you would like to retire overseas, those goalposts just got drastically closer. Let’s take an example… You had assumed you needed $35,000 a year to retire after tax meaning that you needed a before-tax income of approximately $50,000 let’s say. Earning 5% a year, you would have needed a retirement pot of $1,000,000 to achieve that. Now it would need to be 30% less. And this is before you take into account the fact that the cost of living in your new home will be drastically lower too. Beware the offshore tax haven trap. Sure, places like Belize and Panama won’t tax you anyway, BUT Uncle Sam will, even if you’re not a USA resident. Sad and strange but very true. However, with this strategy, you can retain your citizenship and be tax-free regardless. Laws can change from time to time and we strongly advise you consult the advice of a tax professional beforehand. |