What US Expats in Canada Need to Know About Financial Planning
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What US Expats in Canada Need to Know About Financial Planning
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In this episode of Passport To Wealth™, Arielle Tucker, CFP®, EA sits down with Aditi Kapadia, CFA®, CFP®, founder of Wealth IQ and a cross-border financial planner specializing in US and Canada financial planning.
Aditi shares her personal journey of moving to the US as a Canadian expat, navigating two tax systems, managing cross-border income, and rebuilding her financial framework from the ground up. Together, Arielle and Aditi break down the most common challenges globally mobile professionals face, including tax residency, investment alignment, compensation planning, and major life transitions across borders.
This conversation focuses on clarity over complexity and provides practical, plain-English insights for anyone managing finances between the US and Canada. Whether you are planning a move, already living abroad, or working across borders, this episode offers essential guidance to help you make confident, informed financial decisions.
For a trusted path to expert cross-border guidance don't forget to go to passporttowealth.com .
Takeaways:
- Aditi Kapadia is a dual citizen of Canada and the US.
- Understanding currency exchange rates is crucial for financial planning.
- Credit history in the US is vital and can be challenging for newcomers.
- Many people make the mistake of leaving their finances untouched after moving.
- Retirement accounts in Canada and the US cannot be combined.
- The TFSA in Canada does not provide the same benefits in the US.
- Property ownership in Canada has different tax implications than in the US.
- Hiring a cross-border accountant can save time and money.
- It's important to consult with professionals when moving across borders.
- Building a community of support is essential for expatriates.
Chapters:
00:00 Introduction to Cross-Border Financial Planning
04:26 Navigating Currency and Exchange Rates
09:24 Understanding Credit History and Financial Systems
13:52 Common Mistakes in Cross-Border Financial Planning
22:51 Retirement Accounts and Property Ownership
27:22 The Importance of Hiring a Cross-Border Accountant
Mentioned in this episode:
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