Portfolio Advice After Year 1

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
Topic Author
amucaze
Posts: 8
Joined: Sun Aug 07, 2016 4:20 pm

Portfolio Advice After Year 1

Post by amucaze » Mon May 01, 2017 12:13 am

Hi Bogleheads!

I've been following and reading for the last year and it's time for me to re-evaluate my choices. I'd appreciate any input you have, especially around my bond choices.

Thanks in advance.

Basics
Gross income: 95K (25% tax rate) + 275k (33% tax rate) = 370K
Debt: None
Tax status: Married, filing jointly
State: CA
Age: 31
Annual outgoings: ~ $50,000
Annual investable money: < $200,00
Desired asset allocation: 80% stocks, 20% bonds

Goal Allocations

Code: Select all

| US Stock | Intl Stock | Emerging | Bonds | Reit |
|----------|------------|----------|-------|------|
| 43%      | 25%        | 7%       | 20%   | 5%   |
Current Assets
$200K Ally Bank (1% interest rate) - emergency fund + 150K home deposit
$5.5K (maxed for 2016) My Roth IRA
  • 100% Vanguard Total Bond Market Index Fund Investor Shares (VBMFX) (0.15%)
$5.5K (maxed for 2016) Her Roth IRA
  • 100% Vanguard Total Bond Market Index Fund Investor Shares (VBMFX) (0.15%)
$40K (maxed for 2017) My 401K (Options: https://pastebin.com/SWpRbtFe)
  • 65% Vanguard 500 Index Admiral (VFIAX) (0.05%)
  • 3% Vanguard Mid Cap Index Adm (VIMAX) (0.09%)
  • 12% Vanguard Small Cap Index Adm (VSMAX) (0.09%)
  • 20% DFA Intermediate Govt Fixed-Income I (DFIGX) (0.12%)
$40K (maxed for 2017) Her 401K (Options: https://pastebin.com/dTuU3Eaj)
  • 80% Vanguard International Growth Inv (VWIGX) (0.47%)
  • 20% Columbia Large Cap Index Fund (NINDX) (0.20%)
$13K Joint Vanguard Taxable
  • 25% Vanguard Emerging Markets Stock Index Fund Investor Shares (VEIEX) (0.32%)
  • 25% Vanguard Total Bond Market Index Fund Investor Shares (VBMFX) (0.15%)
  • 25% Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) (0.15%)
  • 25% Vanguard Total International Stock Index Fund Investor Shares (VGTSX) (0.18%)
Changes for 2017
Remaining Contributions for 2017: ~$150,000

Roth IRAs - Add $11K
  • Add $5.5K REIT to my IRA - Vanguard REIT Index Fund Investor Shares (VGSIX) (0.26%)
  • Add $5.5K Bonds to her IRA - Vanguard Total Bond Market Index Fund Investor Shares (VBMFX) (0.15%)
Taxable - Add $100K
  • Remove Vanguard Emerging Market (already exposed to EM through INTL funds)
  • 16% Vanguard Total Bond Market Index Fund Investor Shares (VBMFX) (0.15%)
  • 42% Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) (0.15%)
  • 42% Vanguard Total International Stock Index Fund Investor Shares (VGTSX) (0.18%)
Questions/Areas of Concern
  • Should I be moving those bonds out of the taxable and into the IRAs? Do you have any recommendations based on the bond fund options? Is PIMCO Total Return Fund Institutional Class (PTTRX) (0.46%) a decent choice? I don't like the look of that expense ratio :(
  • Perhaps Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) (0.19%) but kept in the taxable is a better choice? I like the idea of keeping some stock in the 401Ks. I don't like the look of CA munis - I don't want to take on that kind of risk.
Updated 2017 Plan After Comments

Code: Select all

| Name                          | Ticker | My IRA  | Her IRA | My 401K | Her 401K | Taxable  | Percentage |
|-------------------------------|--------|---------|---------|---------|----------|----------|------------|
|                               | Totals | $10,876 | $10,883 | $42,933 | $37,747  | $112,633 | 100.0%     |
| Vanguard Total Bond           | VBMFX  |         |         |         |          | $10,458  | 4.9%       |
| DFA Int. Gov. Fixed Income    | DFIGX  |         |         | $15,128 |          |          | 7.0%       |
| Vanguard Int.-Term Tax-Exempt | VWITX  |         |         |         |          | $16,000  | 7.4%       |
| Vanguard REIT Index           | VGSIX  | $5,500  | $3,500  |         |          |          | 4.2%       |
| Vanguard Total Stock Market   | VTSMX  | $5,376  | $7,383  |         |          | $16,462  | 13.6%      |
| Vanguard Mid-Cap Index        | VIMAX  |         |         | $1,093  |          |          | 0.5%       |
| Vanguard Small-Cap Index      | VSMAX  |         |         | $4,041  |          |          | 1.9%       |
| Vanguard Extended Mkt Index   | VEXMX  |         |         |         | $7,549   |          | 3.5%       |
| Columbia Large Cap Index      | NINDX  |         |         |         | $30,198  |          | 14.0%      |
| Vanguard 500 Index            | VFIAX  |         |         | $22,671 |          |          | 10.5%      |
| Vanguard Emerging Markets     | VEIEX  |         |         |         |          | $2,000   | 0.9%       |
| Vanguard Total Intl           | VGTSX  |         |         |         |          | $67,712  | 31.5%      |
Brings me pretty close to my goal allocations (using the fund breakdowns: https://pastebin.com/UgEGYy0f):

Code: Select all

|       | US Stock | Intl Stock | Emerging | Bonds | Reit | Total  |
|-------|----------|------------|----------|-------|------|--------|
| Total | 43.2%    | 25.4%      | 7.0%     | 19.3% | 5.1% | 100.0% |
| Goal  | 43.0%    | 25.0%      | 7.0%     | 20.0% | 5.0% | 100.0% |
Updated 2017 After Further Comments

Code: Select all

| Name                          | Ticker | My IRA  | Her IRA | My 401K | Her 401K | Taxable  | Percentage |
|-------------------------------|--------|---------|---------|---------|----------|----------|------------|
|                               | Totals | $10,876 | $10,883 | $42,933 | $37,747  | $112,633 | 100.0%     |
| Vanguard Total Bond           | VBMFX  |         |         |         |          | $10,458  | 4.9%       |
| DFA Int. Gov. Fixed Income    | DFIGX  |         |         | $15,128 |          |          | 7.0%       |
| Vanguard Int.-Term Tax-Exempt | VWITX  |         |         |         |          | $16,000  | 7.4%       |
| Vanguard REIT Index           | VGSIX  |         | $10,000 |         |          |          | 4.6%       |
| Vanguard Total Stock Market   | VTSMX  | $10,876 | $883    |         |          | $16,462  | 13.1%      |
| Vanguard Extended Mkt Index   | VEXMX  |         |         |         | $12,684  |          | 5.9%       |
| Columbia Large Cap Index      | NINDX  |         |         |         | $25,063  |          | 11.7%      |
| Vanguard 500 Index            | VFIAX  |         |         | $27,805 |          |          | 12.9%      |
| Vanguard Emerging Markets     | VEIEX  |         |         |         |          | $2,000   | 0.9%       |
| Vanguard Total Intl           | VGTSX  |         |         |         |          | $67,712  | 31.5%      |

Code: Select all

|              | US Stock | Intl Stock | Emerging | Bonds | Reit | Total |
|--------------|----------|------------|----------|-------|------|-------|
| Tax Friendly | 73%      | 0%         | 0%       | 15%   | 12%  | 100%  |
| Taxable      | 14%      | 49%        | 13%      | 23%   | 0%   | 100%  |
| Total        | 42.3%    | 25.4%      | 7.0%     | 19.3% | 5.9% | 100%  |
| Goal         | 43%      | 25%        | 7%       | 20%   | 5%   | 100%  |
Last edited by amucaze on Tue May 09, 2017 12:16 am, edited 3 times in total.

venkman
Posts: 1078
Joined: Tue Mar 14, 2017 10:33 pm

Re: Portfolio Advice After Year 1

Post by venkman » Mon May 01, 2017 2:57 am

amucaze wrote: *stuff deleted*
Questions/Areas of Concern
  • Should I be moving those bonds out of the taxable and into the IRAs? Do you have any recommendations based on the bond fund options? Is PIMCO Total Return Fund Institutional Class (PTTRX) (0.46%) a decent choice? I don't like the look of that expense ratio :(
  • Perhaps Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) (0.19%) but kept in the taxable is a better choice? I like the idea of keeping some stock in the 401Ks. I don't like the look of CA munis - I don't want to take on that kind of risk.
Generally, you want your Roth to contain the asset classes that are expected to grow the fastest, so I would take all the bonds out of the Roths and replace them with stocks. (REITs would also be good.) You don't have a lot of great 401k bond choices, but the DFIGX should be fine. I also like your idea of putting VWITX in your taxable account. Its 1.91% SEC yield is equivalent to 2.85% taxable for the 33% tax bracket, which beats VBMFX. (You could still keep some VBMFX, just for diversification purposes, but its after-tax yield will be low.)

For Her 401k, consider putting all of it in some combination of the Columbia Large Cap Index and the VG Extended Market. Those have the lowest ER's and fit in with your overall allocation. You can keep all of your International allocation in your taxable account to get the foreign tax credit.

Also, make sure you convert everything in taxable and the Roths to Admiral shares as soon as you reach the minimum. The minimum for most of VG's index funds is only $10k, so you should get there pretty fast.

Other than that, you're fine. The sheer amount of money that you're saving each year is going to overwhelm anything bad the market can throw at you. :sharebeer

radiowave
Posts: 2270
Joined: Thu Apr 30, 2015 5:01 pm

Re: Portfolio Advice After Year 1

Post by radiowave » Mon May 01, 2017 7:31 am

One other thing to consider is converting some of the cash at Ally to CDs, e.g. a 12 month CD is 1.30%. Perhaps a small CD ladder to get a little extra interest?
Bogleheads Wiki: https://www.bogleheads.org/wiki/Main_Page

zuma
Posts: 474
Joined: Thu Dec 29, 2016 12:15 pm

Re: Portfolio Advice After Year 1

Post by zuma » Mon May 01, 2017 7:36 am

One note on your percentages: they should add up to 100% across the entire portfolio, not within each account. Doing that will give everyone a better picture of your whole portfolio.

User avatar
BeBH65
Posts: 1563
Joined: Sat Jul 04, 2015 7:28 am

Re: Portfolio Advice After Year 1

Post by BeBH65 » Mon May 01, 2017 1:15 pm

Hello Amucaze,

It might be possible to improve the tax-efficiency of your asset location across the accounts; have a look at Tax-efficient_fund_placement

Isee that her 401 has an Vanguard Extended Market fund that could be a good complement for the S&P500 in your other accounts. Lowering the total ER of your portfolio.

What is your desired %international stock?
What are the remaining contributions that you wish to do this year?
When you calculate your % across for the retirement investments (total should be 100%), do not include your Emergency Fund nor the savings for the down payment for your house.

Regards,
BeBH65. (only an investment enthusiast, not a financial adviser, perform your due diligence). | Have a look at https://www.bogleheads.org/wiki/Outline_of_Non-US_domiciles

Topic Author
amucaze
Posts: 8
Joined: Sun Aug 07, 2016 4:20 pm

Re: Portfolio Advice After Year 1

Post by amucaze » Thu May 04, 2017 12:15 am

Thanks for all your comments and observations. I've updated my original post (also at the bottom of this post) with a new balanced version including:
- Bonds switched to stocks in IRAs
- Using the Vanguard extended market fund in 'her 401K'
- Moving foreign investments out to taxable to benefit from foreign tax credits

I'm still unsure of the ideal bond distribution so any advice would be appreciated. I'm thinking along the following lines:
- At least 10K of Vanguard Total Bond in the taxable account to get access to Admiral
- An equal amount of Vanguard Intermediate-Term Tax-Exempt in the taxable and DFA Intermediate Govt Fixed-Income in the 401K.

I feel over-exposed to Treasury bonds but I guess that's OK as the default rate is much lower than corporate bonds?
venkman wrote: Generally, you want your Roth to contain the asset classes that are expected to grow the fastest, so I would take all the bonds out of the Roths and replace them with stocks. (REITs would also be good.) You don't have a lot of great 401k bond choices, but the DFIGX should be fine. I also like your idea of putting VWITX in your taxable account. Its 1.91% SEC yield is equivalent to 2.85% taxable for the 33% tax bracket, which beats VBMFX. (You could still keep some VBMFX, just for diversification purposes, but its after-tax yield will be low.)

For Her 401k, consider putting all of it in some combination of the Columbia Large Cap Index and the VG Extended Market. Those have the lowest ER's and fit in with your overall allocation. You can keep all of your International allocation in your taxable account to get the foreign tax credit.

Also, make sure you convert everything in taxable and the Roths to Admiral shares as soon as you reach the minimum. The minimum for most of VG's index funds is only $10k, so you should get there pretty fast.
Superb advice - I've re-read the tax efficient fund placement info which now makes more sense to me, especially in a period of (probably!) lower bond growth. The advice on foreign tax credit is great, I hadn't considered that angle which gives me the opportunity to dump the higher ER international growth account.
radiowave wrote:One other thing to consider is converting some of the cash at Ally to CDs, e.g. a 12 month CD is 1.30%. Perhaps a small CD ladder to get a little extra interest?
Thanks radiowave! I've been taking a close look at CDs, but I'm willing to sacrifice 0.3% of interest to reduce complexity.
zuma wrote:One note on your percentages: they should add up to 100% across the entire portfolio, not within each account. Doing that will give everyone a better picture of your whole portfolio.
Thanks zuma, I've included my percentages across the entire portfolio which I failed to include earlier.
BeBH65 wrote:Hello Amucaze,

It might be possible to improve the tax-efficiency of your asset location across the accounts; have a look at Tax-efficient_fund_placement

Isee that her 401 has an Vanguard Extended Market fund that could be a good complement for the S&P500 in your other accounts. Lowering the total ER of your portfolio.

What is your desired %international stock?
What are the remaining contributions that you wish to do this year?
When you calculate your % across for the retirement investments (total should be 100%), do not include your Emergency Fund nor the savings for the down payment for your house.

Regards,
I've added this information to the original post but here's the answers:

Goal Allocations

Code: Select all

| US Stock | Intl Stock | Emerging | Bonds | Reit |
|----------|------------|----------|-------|------|
| 43%      | 25%        | 7%       | 20%   | 5%   |
Remaining Contributions for 2017: ~$150,000

Updated 2017 Plan After Comments

Code: Select all

| Name                          | Ticker | My IRA  | Her IRA | My 401K | Her 401K | Taxable  | Percentage |
|-------------------------------|--------|---------|---------|---------|----------|----------|------------|
|                               | Totals | $10,876 | $10,883 | $42,933 | $37,747  | $112,633 | 100.0%     |
| Vanguard Total Bond           | VBMFX  |         |         |         |          | $10,458  | 4.9%       |
| DFA Int. Gov. Fixed Income    | DFIGX  |         |         | $15,128 |          |          | 7.0%       |
| Vanguard Int.-Term Tax-Exempt | VWITX  |         |         |         |          | $16,000  | 7.4%       |
| Vanguard REIT Index           | VGSIX  | $5,500  | $3,500  |         |          |          | 4.2%       |
| Vanguard Total Stock Market   | VTSMX  | $5,376  | $7,383  |         |          | $16,462  | 13.6%      |
| Vanguard Mid-Cap Index        | VIMAX  |         |         | $1,093  |          |          | 0.5%       |
| Vanguard Small-Cap Index      | VSMAX  |         |         | $4,041  |          |          | 1.9%       |
| Vanguard Extended Mkt Index   | VEXMX  |         |         |         | $7,549   |          | 3.5%       |
| Columbia Large Cap Index      | NINDX  |         |         |         | $30,198  |          | 14.0%      |
| Vanguard 500 Index            | VFIAX  |         |         | $22,671 |          |          | 10.5%      |
| Vanguard Emerging Markets     | VEIEX  |         |         |         |          | $2,000   | 0.9%       |
| Vanguard Total Intl           | VGTSX  |         |         |         |          | $67,712  | 31.5%      |
Brings me pretty close to my goal allocations (using the fund breakdowns: https://pastebin.com/UgEGYy0f):

Code: Select all

|       | US Stock | Intl Stock | Emerging | Bonds | Reit | Total  |
|-------|----------|------------|----------|-------|------|--------|
| Total | 43.2%    | 25.4%      | 7.0%     | 19.3% | 5.1% | 100.0% |
| Goal  | 43.0%    | 25.0%      | 7.0%     | 20.0% | 5.0% | 100.0% |

MoonOrb
Posts: 974
Joined: Thu Jan 24, 2013 6:58 pm

Re: Portfolio Advice After Year 1

Post by MoonOrb » Thu May 04, 2017 12:56 am

I'm assuming based on your income level that you're doing backdoor Roths. Are mega-backdoors an option?

User avatar
BeBH65
Posts: 1563
Joined: Sat Jul 04, 2015 7:28 am

Re: Portfolio Advice After Year 1

Post by BeBH65 » Thu May 04, 2017 1:46 pm

amucaze wrote:

Code: Select all

| Name                          | Ticker | My IRA  | Her IRA | My 401K | Her 401K | Taxable  | Percentage |
|-------------------------------|--------|---------|---------|---------|----------|----------|------------|
|                               | Totals | $10,876 | $10,883 | $42,933 | $37,747  | $112,633 | 100.0%     |
| Vanguard Total Bond           | VBMFX  |         |         |         |          | $10,458  | 4.9%       |
| DFA Int. Gov. Fixed Income    | DFIGX  |         |         | $15,128 |          |          | 7.0%       |
| Vanguard Int.-Term Tax-Exempt | VWITX  |         |         |         |          | $16,000  | 7.4%       |
| Vanguard REIT Index           | VGSIX  | $5,500  | $3,500  |         |          |          | 4.2%       |
| Vanguard Total Stock Market   | VTSMX  | $5,376  | $7,383  |         |          | $16,462  | 13.6%      |
| Vanguard Mid-Cap Index        | VIMAX  |         |         | $1,093  |          |          | 0.5%       |
| Vanguard Small-Cap Index      | VSMAX  |         |         | $4,041  |          |          | 1.9%       |
| Vanguard Extended Mkt Index   | VEXMX  |         |         |         | $7,549   |          | 3.5%       |
| Columbia Large Cap Index      | NINDX  |         |         |         | $30,198  |          | 14.0%      |
| Vanguard 500 Index            | VFIAX  |         |         | $22,671 |          |          | 10.5%      |
| Vanguard Emerging Markets     | VEIEX  |         |         |         |          | $2,000   | 0.9%       |
| Vanguard Total Intl           | VGTSX  |         |         |         |          | $67,712  | 31.5%      |
I believe that there are ways to simplify the asset location:
1. Why the small allocation to Emerging Markets. Any allocation less then 5% is unlikely to make any difference, suggest you add this to your total international.
2. You can drop the mid and small cap in yr 401k, augment the SP500; conversely in her 401 k augment the Extended market and lower the Columbia Large Cap.
3. You could make the IRAs simpler by dedicating one to TSM, and grouping the REITS in the other. (If you really want REIT - see discussions in the forum)
BeBH65. (only an investment enthusiast, not a financial adviser, perform your due diligence). | Have a look at https://www.bogleheads.org/wiki/Outline_of_Non-US_domiciles

Topic Author
amucaze
Posts: 8
Joined: Sun Aug 07, 2016 4:20 pm

Re: Portfolio Advice After Year 1

Post by amucaze » Tue May 09, 2017 12:15 am

BeBH65 wrote:
amucaze wrote:

Code: Select all

| Name                          | Ticker | My IRA  | Her IRA | My 401K | Her 401K | Taxable  | Percentage |
|-------------------------------|--------|---------|---------|---------|----------|----------|------------|
|                               | Totals | $10,876 | $10,883 | $42,933 | $37,747  | $112,633 | 100.0%     |
| Vanguard Total Bond           | VBMFX  |         |         |         |          | $10,458  | 4.9%       |
| DFA Int. Gov. Fixed Income    | DFIGX  |         |         | $15,128 |          |          | 7.0%       |
| Vanguard Int.-Term Tax-Exempt | VWITX  |         |         |         |          | $16,000  | 7.4%       |
| Vanguard REIT Index           | VGSIX  | $5,500  | $3,500  |         |          |          | 4.2%       |
| Vanguard Total Stock Market   | VTSMX  | $5,376  | $7,383  |         |          | $16,462  | 13.6%      |
| Vanguard Mid-Cap Index        | VIMAX  |         |         | $1,093  |          |          | 0.5%       |
| Vanguard Small-Cap Index      | VSMAX  |         |         | $4,041  |          |          | 1.9%       |
| Vanguard Extended Mkt Index   | VEXMX  |         |         |         | $7,549   |          | 3.5%       |
| Columbia Large Cap Index      | NINDX  |         |         |         | $30,198  |          | 14.0%      |
| Vanguard 500 Index            | VFIAX  |         |         | $22,671 |          |          | 10.5%      |
| Vanguard Emerging Markets     | VEIEX  |         |         |         |          | $2,000   | 0.9%       |
| Vanguard Total Intl           | VGTSX  |         |         |         |          | $67,712  | 31.5%      |
I believe that there are ways to simplify the asset location:
1. Why the small allocation to Emerging Markets. Any allocation less then 5% is unlikely to make any difference, suggest you add this to your total international.
2. You can drop the mid and small cap in yr 401k, augment the SP500; conversely in her 401 k augment the Extended market and lower the Columbia Large Cap.
3. You could make the IRAs simpler by dedicating one to TSM, and grouping the REITS in the other. (If you really want REIT - see discussions in the forum)
Thanks again!

1. The $2000 tops up my emerging allowance, bringing it up a percentage point. See the overall allocation table at the bottom, using the fund makeup: https://pastebin.com/dk7xGdLM
2. Makes sense, I hadn't thought of consolidating like this but I like it! Two funds down.
3. Good call - having 100% REIT pushes the allocation a little over, but it makes sense to have over 10K to get admiral shares. I couldn't find any discussions around the downsides or REITs - do you have any links?

Code: Select all

| Name                          | Ticker | My IRA  | Her IRA | My 401K | Her 401K | Taxable  | Percentage |
|-------------------------------|--------|---------|---------|---------|----------|----------|------------|
|                               | Totals | $10,876 | $10,883 | $42,933 | $37,747  | $112,633 | 100.0%     |
| Vanguard Total Bond           | VBMFX  |         |         |         |          | $10,458  | 4.9%       |
| DFA Int. Gov. Fixed Income    | DFIGX  |         |         | $15,128 |          |          | 7.0%       |
| Vanguard Int.-Term Tax-Exempt | VWITX  |         |         |         |          | $16,000  | 7.4%       |
| Vanguard REIT Index           | VGSIX  |         | $10,000 |         |          |          | 4.6%       |
| Vanguard Total Stock Market   | VTSMX  | $10,876 | $883    |         |          | $16,462  | 13.1%      |
| Vanguard Extended Mkt Index   | VEXMX  |         |         |         | $12,684  |          | 5.9%       |
| Columbia Large Cap Index      | NINDX  |         |         |         | $25,063  |          | 11.7%      |
| Vanguard 500 Index            | VFIAX  |         |         | $27,805 |          |          | 12.9%      |
| Vanguard Emerging Markets     | VEIEX  |         |         |         |          | $2,000   | 0.9%       |
| Vanguard Total Intl           | VGTSX  |         |         |         |          | $67,712  | 31.5%      |

Code: Select all

|              | US Stock | Intl Stock | Emerging | Bonds | Reit | Total |
|--------------|----------|------------|----------|-------|------|-------|
| Tax Friendly | 73%      | 0%         | 0%       | 15%   | 12%  | 100%  |
| Taxable      | 14%      | 49%        | 13%      | 23%   | 0%   | 100%  |
| Total        | 42.3%    | 25.4%      | 7.0%     | 19.3% | 5.9% | 100%  |
| Goal         | 43%      | 25%        | 7%       | 20%   | 5%   | 100%  |

User avatar
BeBH65
Posts: 1563
Joined: Sat Jul 04, 2015 7:28 am

Re: Portfolio Advice After Year 1

Post by BeBH65 » Tue May 09, 2017 4:49 am

HI Amacuze,
I couldn't find any discussions around the downsides or REITs - do you have any links?
- Remember REITS are already part of your total stock market funds.
- Many people here on the forum find that enough.
- Do a search for REIT i the search for the forum to find the discussion on REITS.

Regards,
BeBH65. (only an investment enthusiast, not a financial adviser, perform your due diligence). | Have a look at https://www.bogleheads.org/wiki/Outline_of_Non-US_domiciles

Post Reply