These are really naive questions, I apologize.
For those who are self-employed, how are you banking/investing/managing your retirement? Does it simply depend on where you are paying taxes? Or where you plan to ultimately live the end of your life?
At the moment, I'm self-employed and all my clients are US-based businesses, my fees are paid to my US account. I'm not sure what will happen once in the UK: I might continue to work as I am, I might shift to have exclusively UK-based clientele, or I might simply work for a UK-based company. Basically, I am confused about investing as my current income being solely paid (for the time being) to my US account.
I was told I'm no longer eligible to hold my Roth IRA because I will be paying UK taxes in 2010. (I believe I will be paying US taxes this year, because I have been living and working in the US from Jan-Sep 2009. Please don't flame, but I don't know if I need to pay UK taxes for my UK residence period of Sep 2009-Apr 2010? My accountant is zero help on any of this. :/) Anyway, those questions aside, my big questions for now are:
Are there any complications with having savings, money market, stocks, IRAs in the US while living, paying taxes in the UK? As you can see I'm in major need of "USC-in-the-UK personal finance 101". Again, please don't flame me for my green questions. Thank you for any help you might be able to offer about how USCs (who plan to keep their citizenship) are managing their money.