Mobility – October 2019 - 78

can assist mobile employees in improving their
long-term financial status while working in another
country, the happier expats will be on their assignments, and the more pleased their employers will
be with their employees' output ... and you can see
how that can work out well for the company. So, if
at all possible, connect employees with people who
can help with banking, investing, and taxes, since
often these segments are intermixed.
Nathalie Goldstein, co-founder and CEO of
MyExpatTaxes.com in Vienna, points out that if
you're, for instance, an American expat investing
in foreign mutual funds, you might easily lose
money "due to the strict passive foreign investment company reporting requirements."
She adds: "This can be true for many other countries, as well, when dealing with foreign investments,

since they are not regulated based on local financial
authorities' requirements."
Hopefully, whoever is working with your expats
will also give helpful wealth-building advice.
For instance-and maybe this is a no-brainer-
Goldstein often advises expats to rent out their
home-country residence while abroad and then, if
possible, invest that income.
You'd also think it would be a no-brainer for
corporations to offer more than just health benefits,
such as paying financial professionals to help expats
with their investments and taxes. But, alas, it is not so
common, according to Oltman.
"A lot of it comes down to what is the spirit of the
company's philosophy," Oltman says. "They'll often
offer it to senior executives who are relocated, but
average people need it, too."
THE IMPORTANCE OF
GOOD ADVICE
An assignment to a new part of
the world is an exciting adventure, a tremendous opportunity
for career-building, and an
opportunity to build wealth-or
risk losing it. So, if you want
your assignees to someday return
home in better financial shape
than when they left, you'll want
to steer them to the best resources
to ensure that happens. M
Geoff Williams is an Ohio-based
freelance writer with expat
experience. He can be reached via
mobility@theYGSgroup.com.
Keep the conversations
going on this and other
topics by participating in
our online Community.
Sign in at worldwideerc.
org/community with
your Worldwide ERC®
username and password.

78 Mobility | October 2019


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Mobility – October 2019

Table of Contents for the Digital Edition of Mobility – October 2019

Mobility – October 2019 - Cover1
Mobility – October 2019 - Cover2
Mobility – October 2019 - 1
Mobility – October 2019 - 2
Mobility – October 2019 - 3
Mobility – October 2019 - 4
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Mobility – October 2019 - Cover3
Mobility – October 2019 - Cover4
https://www.nxtbook.com/ygsreprints/WERC/mobility-june-2021
https://www.nxtbook.com/ygsreprints/WERC/mobility-may-2021
https://www.nxtbook.com/ygsreprints/WERC/mobility-april-2021
https://www.nxtbook.com/ygsreprints/WERC/mobility-march-2021
https://www.nxtbook.com/ygsreprints/WERC/mobility-february-2021
https://www.nxtbook.com/ygsreprints/WERC/mobility_122020
https://www.nxtbook.com/ygsreprints/WERC/mobility_112020
https://www.nxtbook.com/ygsreprints/WERC/mobility_102020
https://www.nxtbook.com/ygsreprints/WERC/mobility_092020
https://www.nxtbook.com/ygsreprints/WERC/mobility_082020
https://www.nxtbook.com/ygsreprints/WERC/mobility_072020
https://www.nxtbook.com/ygsreprints/WERC/mobility_062020
https://www.nxtbook.com/ygsreprints/WERC/mobility_052020
https://www.nxtbook.com/ygsreprints/WERC/mobility_042020
https://www.nxtbook.com/ygsreprints/WERC/mobility_032020
https://www.nxtbook.com/ygsreprints/WERC/mobility_022020
https://www.nxtbook.com/ygsreprints/WERC/mobility_012020
https://www.nxtbook.com/ygsreprints/WERC/mobility_122019
https://www.nxtbook.com/ygsreprints/WERC/mobility_112019
https://www.nxtbook.com/ygsreprints/WERC/mobility_102019
https://www.nxtbook.com/ygsreprints/WERC/mobility_092019
https://www.nxtbook.com/ygsreprints/WERC/mobility_082019
https://www.nxtbook.com/ygsreprints/WERC/mobility_072019
https://www.nxtbook.com/ygsreprints/WERC/mobility_062019
https://www.nxtbook.com/ygsreprints/WERC/mobility_052019
https://www.nxtbook.com/ygsreprints/WERC/mobility_042019
https://www.nxtbook.com/ygsreprints/WERC/mobility_032019
https://www.nxtbook.com/ygsreprints/WERC/mobility_022019
https://www.nxtbook.com/ygsreprints/WERC/mobility_012019
https://www.nxtbookmedia.com