I’m planning to get to Portugal in the next 2-8 years depending on a few things here in the States. I know PT doesn’t recognize a Roth IRA tax benefit as done in the US. What are thoughts around moving my monthly investing amount deducted from pay check into a traditional retirement account b/c of this - I have the option for both Roth and regular IRA w my job. I’ve been putting the bulk into a Roth and a much smaller amount into tax later IRA out of ignorance around this anomaly in Portugal….will it matter when the time comes to access that money? Thank you for any thoughts.
Not financial advice, but from speaking to our advisors, they were not unduly concerned.
That said, we’re holding at the current funding levels, and not planning to add more beyond what’s already been invested, mostly because we have no plans on returning to the US, and don’t have US earned income to qualify for a Roth contribution.
Would suggest you speak with someone convercent with both US and PT taxation before you make any final conclusions.