Using ALLIANT Credit Union to bank from Argentina

[earlyretirement]

A brokerage account opens you up to a lot of discloser that most people living abroad don't want. Period.

Hmmm. This seems strange to me. I work with hundreds of clients. Many of them are ex-pats. None of them are worried about having a brokerage account in their home country. LOL. This seems strange to me.

But then again most of my clients all pay taxes and everything is declared. They aren't worried about this sort of thing. Most people are going to want to keep their assets in US dollars and life as usual with their banks/brokerage accounts in retirement.

 

[earlyretirement]

You still don't get it. Schwab does not charge any fees it in the first place, either. It rebates fees from the ATM owner (not its own fees).

LOL. He/she is SERIOUSLY confused. I don't think they understand basic concepts of how it works. ZERO fees means ZERO fees. lunar, I'd just let it be. I find people that argue with themselves are not worth the time.

I manage money for a living and I also work with lots of Ex-pats. The Schwab account is bar none the BEST account an ex-pat could have. There is NO comparison and anyone that tries to argue with that fact is just that. Arguing with themselves.

I also bank with Capital One. They have fine products but I find for traveling abroad and fee rebates of ATM bank fees no matter what the ATM machine charges, Schwab is the best. It's won JD Power BEST 5 years in a row of Best CHECKING Account.

 

[carride]

A brokerage account opens you up to a lot of discloser that most people living abroad don't want. Period.

Having a USA brokerage account does not require any more disclosure than a regular bank checking and savings. Yes you have to report any income from your investments when you file your taxes, which are the same rules as simple interest earning bank accounts. Even after taxes it is a way better deal than working hours to make money. If you do not want to earn money to avoid the taxes then do invest any of the money you have in your account, or do not keep any money in the account.

My last comment to Carride...is what are you talking about?

I am saying that once a person first earns money from the type investments that are available via a brokerage account, then I find it very difficult to imagine giving up that method of income. Regardless of where you move in the world. It is a great equalizer available to anyone in most countries regardless of age or income status. For this reason I also imagined that a high majority of people in USA have brokerage accounts, even if only a $10-$1000. Now that I investigated a bit I see it is only a low majority.

What Percentage of Americans Own Stock?

Gallup's latest estimate finds 61% of U.S. adults own stock, the highest it has been since 2008.

news.gallup.com

 

[earlyretirement]

Having a USA brokerage account does not require any more disclosure than a regular bank checking and savings. Yes you have to report any income from your investments when you file your taxes, which are the same rules as simple interest earning bank accounts. Even after taxes it is a way better deal than working hours to make money. If you do not want to earn money to avoid the taxes then do invest any of the money you have in your account, or do not keep any money in the account.

I am saying that once a person first earns money from the type investments that are available via a brokerage account, then I find it very difficult to imagine giving up that method of income. Regardless of where you move in the world. It is a great equalizer available to anyone in most countries regardless of age or income status. For this reason I also imagined that a high majority of people in USA have brokerage accounts, even if only a $10-$1000. Now that I investigated a bit I see it is only a low majority.

What Percentage of Americans Own Stock?

Gallup's latest estimate finds 61% of U.S. adults own stock, the highest it has been since 2008.

news.gallup.com

BINGO. Yes, Spot on target and true. Winner winner chicken dinner.

 

[Caribbean Cool]

BINGO. Yes, Spot on target and true. Winner winner chicken dinner.

 

[Caribbean Cool]

Having a USA brokerage account does not require any more disclosure than a regular bank checking and savings. Yes you have to report any income from your investments when you file your taxes, which are the same rules as simple interest earning bank accounts. Even after taxes it is a way better deal than working hours to make money. If you do not want to earn money to avoid the taxes then do invest any of the money you have in your account, or do not keep any money in the account.

I am saying that once a person first earns money from the type investments that are available via a brokerage account, then I find it very difficult to imagine giving up that method of income. Regardless of where you move in the world. It is a great equalizer available to anyone in most countries regardless of age or income status. For this reason I also imagined that a high majority of people in USA have brokerage accounts, even if only a $10-$1000. Now that I investigated a bit I see it is only a low majority.

What Percentage of Americans Own Stock?

Gallup's latest estimate finds 61% of U.S. adults own stock, the highest it has been since 2008.

news.gallup.com

USA brokerage account does not require any more disclosure than a regular bank checking and savings.........I guess things have changed since I was a vice president of Mitchum, Jones, and Templeton

 

[Caribbean Cool]

USA brokerage account does not require any more disclosure than a regular bank checking and savings.........I guess things have changed since I was a vice president of Mitchum, Jones, and Templeton

The survey of ownership is not a survey of how many have brokerage accounts. Not even close.

 

[earlyretirement]

USA brokerage account does not require any more disclosure than a regular bank checking and savings.........I guess things have changed since I was a vice president of Mitchum, Jones, and Templeton

I've never heard of that company. Congrats on your success to date.

I think the best thing about these forums Is the sharing of education. So please share with us the perils of having a Charles Schwab account and being an expat. Don't just say "you shouldn't have one". No one knows who you are so please list out your rationale. THAT will be educational.

So explain to us. Why specifically wouldn't you advise to be an ex-pat and have a brokerage account? I'm just trying to understand your thought process. I honestly always am striving to learn so please share your knowledge with us.

I don't know that firm but if you were a VP obviously you have knowledge that I'd love to learn from. Thanks in advance.

 

[carride]

The survey of ownership is not a survey of how many have brokerage accounts. Not even close.

Ok. You win that detail, since that survey I posted does not say brokerage account. Those people in that survey could have paper stock certificates stuffed under their mattresses or in a safe deposit box, or only stocks in a 401k retirement account, or something else I am not thinking about. I only did a quick google search, without really trying to get that last detail perfect. Perhaps one day I’ll look up the real percentage.

 

[Caribbean Cool]

Ok. You win that detail, since that survey I posted does not say brokerage account. Those people in that survey could have paper stock certificates stuffed under their mattresses or in a safe deposit box, or only stocks in a 401k retirement account, or something else I am not thinking about. I only did a quick google search, without really trying to get that last detail perfect. Perhaps one day I’ll look up the real percentage.