Navigating retirement between Canada and the United States has never been more complex or more common. Crossing the 49th Parallel is the ultimate guide for Canadian and American retirees and pre-retirees looking to move, work, invest, or spend extended time across the border. Whether you're a Canadian seeking a warmer climate, a working professional exploring new opportunities abroad, or a U.S. citizen relocating to be closer to your children and grandchildren, this indispensable resource simplifies the legal, tax, and financial maze of cross-border retirement planning.
Written in clear, concise language, this guide addresses the key pillars of a successful cross-border retirement transition: income tax, retirement accounts, estate planning, risk management, cash flow, personal finance, wealth management, and investments. With real-life examples and up-to-date guidance, it offers practical strategies for issues such as:
- Minimizing double taxation,
- Understanding the Canada-U.S. Tax Treaty and Social Security Totalization Agreement,
- Managing RRSPs, LIRAs, IRAs, 401(k)s, and Roth IRAs across borders,
- Navigating U.S. estate taxes and Canadian deemed disposition taxes,
- Understanding the U.S. Substantial Presence Test and how to avoid overstaying,
- Planning for healthcare coverage and travel insurance abroad,
- Avoiding pitfalls when buying, renting, or selling U.S. property, and
- Optimizing foreign exchange and investment account structures.
With thousands of families making cross-border moves each year, it's never been more important to plan ahead. If you're an American living in Canada, a Canadian moving to the U.S., or dealing with assets and income across the border, this book is your trusted roadmap to financial freedom and peace of mind in retirement.
Lucas Wennersten is a highly respected cross-border financial planner with over a decade of hands-on experience guiding individuals and families through the unique financial challenges of living and retiring between the United States and Canada. As both a Chartered Financial Analyst (CFA) and Certified Financial Planner(TM) (CFP(R)) in the U.S. and Canada, Lucas delivers a rare dual perspective and a level of expertise few advisors can match.Lucas began his career in Arizona in 2014, specializing in U.S.-Canada wealth management. In 2019, he relocated to Toronto, where he served as both a Portfolio Manager and Management Consultant before returning to the U.S. His personal and professional experiences on both sides of the border have given him a deep understanding of the financial, tax, and emotional considerations involved in international transitions.Known for his clear communication style and holistic planning strategies, Lucas is dedicated to simplifying complex topics and empowering clients to make confident decisions. Whether helping clients manage cross-border retirement accounts, optimize investments, or plan for multi-jurisdictional estates, he tailors each strategy to align with their unique goals and values.
