Ciao a tutti! In this episode of A New Life in Italy, we’re delving into a crucial topic that often causes hesitation for those dreaming of moving to Italy: finances. From money management to taxes, investments, and retirement planning, these elements can significantly influence your decision to relocate.

I am joined by Alex Ingrim, co-founder and president of Liberty Atlantic Advisors, a cross-border financial planning firm that specializes in helping Americans navigate the complexities of managing their wealth while living abroad. With his extensive experience, Alex provides invaluable insights into avoiding double taxation, managing investments, and planning for retirement in Italy.

Throughout our conversation, we explore the common fears that many potential expats face, such as the possibility of being taxed twice and concerns about whether their retirement savings will last. Alex emphasizes the importance of proactive financial planning, advising listeners to start preparing at least two years before their move. He explains the intricacies of the U.S. tax system, which operates on a citizenship-based taxation model, and how this impacts Americans living in Italy.

This episode speaks directly to Americans, but it also is good for Canadians, British, Aussies, and anyone else out there because double taxation treaties apply to all of us. 

We discuss the significance of understanding where and how taxes apply to different types of income, including pensions and retirement accounts. Alex highlights the need for Americans to be aware of the differences in tax rates between the U.S. and Italy, particularly for retirees. He also addresses the common misconception that moving to Italy means you can manage your investments in the same way as in the U.S., pointing out the unique challenges posed by Italian tax laws.

In addition to financial planning, we touch on the emotional aspects of moving abroad, especially for families. Alex shares his personal experience of relocating from Alaska to Florence with his wife and children, illustrating how children often adapt more easily than adults.

As we wrap up, I encourage listeners to take action by connecting with financial professionals who understand both U.S. and Italian tax systems. Alex offers resources for those looking to get started on their financial planning journey, including free consultations.

This episode serves as a reminder that moving to Italy is not just a lifestyle choice; it’s a financial one as well. I hope you find the insights shared in this episode helpful as you consider your own Italian adventure. Don't forget to check the notes below for links to get started.

Resources

• www.libertyatlantic.com
• LinkedIn: Liberty Atlantic Advisors
• Smart Move Italy

Mentioned in this episode:

APP Link

Sentire Media Website

APP Link

Sentire Media Website