Some questions in mind ...

peon · Post by **peon** » Tue Oct 03, 2006 5:47 pm

U.S. citizen and Canadian permanent resident. I have Roth IRA, stocks with broker, bank accts etc. in the U.S., is it ok? What drawback does it have? I still hope some days I can move back to the U.S. with my spouse who is a Canadian citizen. In my situation, is it better off to move back to the U.S. when retire or stay in Canada?

nelsona · Post by **nelsona** » Tue Oct 03, 2006 7:24 pm

These are all 'OK' to have, but remember that your Roth is not sheltered in Canada, and you must report the income it generates every year on your Cdn . And all other world income is reportable in both Canada and US as well.

Whether or not it is 'better' to retire to US or not is a much more elaborate question and will depend more on your health, your income and its sources. "my situation" is not a very detailed description -- nor is such a discussion very profitable on-line.

i would say though, that, for starters, you would want to get YOUR cdn citizenship as soon as you are eligible, before moving back to US -- and, if you do move to US, the same would apply to your wife once she is eligible for US citizenship.