Returning home after years abroad brings its own financial challenges. Here's how to prepare.
Financial Shocks of Return
- Higher taxes than expat location
- Different cost of living
- Need to rebuild local credit
- Retirement account transfers
Before You Return
- Check tax implications of returning
- Plan for foreign account reporting
- Convert or transfer foreign retirement
- Close unnecessary foreign accounts
First Months Back
- Re-establish local bank accounts
- Update address everywhere
- Rebuild credit if needed
- Adjust budget to new reality
Tracking the Transition
Keep secondary currency active to:
- Track any remaining foreign income
- Compare costs to abroad
- Manage transition smoothly
Start Tracking Together
Download Pocket Clear free. Simple expense tracking for couples and expats.