November 27, 2022

Financial Planning is proud to unveil “Ask an Advisor,” where financial pros answer today’s most pressing investment questions. The topics can include just about anything, from retirement to taxes to wealth management — or even advice on advising — and the questions are from real people.
This week, our query comes from a New York public school teacher on the cusp of retirement. She lives in Manhattan, but is looking elsewhere for a novel investment opportunity. Speaking anonymously, and without divulging every detail of her finances, here’s what she wrote:
Dear advisor,
I am 65 years old, and I live in New York City. I have a savings account worth $200,000. Other monies are tied up but usable in two years. I also have a pension.
I have some money to invest in property and am thinking of buying something abroad. I’d like to invest about $350,000-400,000. Is this a good idea? There are places, like Italy and Portugal, that offer good tax incentives for expat retirees. Or should I wait until I receive Social Security at 66 1/2 before I even consider this option?
— Mulling in Manhattan
Here are the answers we heard from advisors:
One of the worst storms in U.S. history has prompted independent advisors in Florida to activate their business continuity plans.
A $775,000 settlement for Waddell & Reed relating to its pre-LPL days displays how the regulator is ramping up enforcement of such cases, experts said.
The changes reflect an effort to give penalties more teeth, similar to what the regulator did last year with Robinhood’s $70 million fine.
Plus, Betterment enters a deal to offer digital assets as a new survey finds Americans are cooling on crypto.
With the broker behind bars since last year, the firm has paid nearly $2 million in client restitution and a regulatory fine over its mishandling of the account.
A New Yorker about to retire considers buying property across the pond. Should she take the plunge? The experts weigh in.
FP’s 37th annual IBD Elite issue examines how firms unafraid of their branding as brokers are changing the industry.

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