Best ways to invest / pension as American in UK

Thanks again for the reply... you raise valid points about investments. I'm at the age that I can absorb some risk on my investments and ride it out for 5 - 10 years at a minimum. I had cash available when the bitcoin boom happened and didn't invest for two reasons one i didn't trust the investment but I was also afraid of the tax implications due to the complicated tax situation; USC, Irish citizen residing and working in the UK. When covid hit and houses weren't selling (so i couldnt buy) my family begged me to invest in Tesla (some of them work there in Cali). the option to buy was somewhere around $45 and now its at circa $240.... I wanted to invest but was afraid of the tax implications. I'm very aware the opposite could happen, for instance a family member left Tesla for Rivian and the family bought shares there and they went high and then crashed... though the family still bought them at only slightly more than they are worth today.

I just feel that my money is not working for me in that way that it needs to be with the current inflation rates being so high.

The OP posted about investments such as private pensions and/or other.... so I think this chat is on topic.

Another example of an investment i am interested in is forestry, some friends work in the industry,  and ROI over last 20 years has averaged about 9-11%. CGT free etc... but again its not the risk im worried about its the tax implications.

thanks again for all your help.

Thanks again for the reply... you raise valid points about investments. I'm at the age that I can absorb some risk on my investments and ride it out for 5 - 10 years at a minimum. I had cash available when the bitcoin boom happened and didn't invest for two reasons one i didn't trust the investment but I was also afraid of the tax implications due to the complicated tax situation; USC, Irish citizen residing and working in the UK. When covid hit and houses weren't selling (so i couldnt buy) my family begged me to invest in Tesla (some of them work there in Cali). the option to buy was somewhere around $45 and now its at circa $240.... I wanted to invest but was afraid of the tax implications. I'm very aware the opposite could happen, for instance a family member left Tesla for Rivian and the family bought shares there and they went high and then crashed... though the family still bought them at only slightly more than they are worth today.

I just feel that my money is not working for me in that way that it needs to be with the current inflation rates being so high.

The OP posted about investments such as private pensions and/or other.... so I think this chat is on topic.

Another example of an investment i am interested in is forestry, some friends work in the industry,  and ROI over last 20 years has averaged about 9-11%. CGT free etc... but again its not the risk im worried about its the tax implications.

thanks again for all your help.

I think dabbling in the stock market with some money you can afford to lose would be no problem, and you can avoid all foreign investment punitive taxes by the IRS (PFICs) if you buy individual stocks.

When I first found myself with funds to invest for the long term I did a lot of research and came to the conclusion that there are 3 ways to approach the stock market. 

You can ignore it (and stick with savings, income bonds etc.)

You can beat it (invest in individual stocks, or funds with managers who try to get the best returns)

You can "be" it (invest in a few low cost index funds that track the market)

I am definitely an indexer, although in my early days tried a bit of speculation with spare money but it ended poorly.

I think dabbling in the stock market with some money you can afford to lose would be no problem, and you can avoid all foreign investment punitive taxes by the IRS (PFICs) if you buy individual stocks.

When I first found myself with funds to invest for the long term I did a lot of research and came to the conclusion that there are 3 ways to approach the stock market. 

You can ignore it (and stick with savings, income bonds etc.)

You can beat it (invest in individual stocks, or funds with managers who try to get the best returns)

You can "be" it (invest in a few low cost index funds that track the market)

I am definitely an indexer, although in my early days tried a bit of speculation with spare money but it ended poorly.

Having read Unshakeable, like you I became an indexer - still in the red this year, but then who isn't?  IMHO It's crazy trying to beat the market and there's always the risk of becoming a 'day trader'

There's plenty of interesting funds to choose from - Morningstar offers free in depth analysis of most trackers and funds and it's a great place  to start - you can tailor investments to your own risk appetite. https://www.morningstar.co.uk/uk/

Another great site for a visual view of the markets (real time - 15 minutes) is https://finviz.com/map.ashx?t=sec

All green at the moment - which makes a change from what has happened recently!

thanks both!

So how do I get tax advice on investing in index funds? I'm not looking to become a day investor. I see this as I put the money in and forget about it and check back in 5 years kind of thing.

Having read Unshakeable, like you I became an indexer - still in the red this year, but then who isn't?  IMHO It's crazy trying to beat the market and there's always the risk of becoming a 'day trader'

There's plenty of interesting funds to choose from - Morningstar offers free in depth analysis of most trackers and funds and it's a great place  to start - you can tailor investments to your own risk appetite. https://www.morningstar.co.uk/uk/

Another great site for a visual view of the markets (real time - 15 minutes) is https://finviz.com/map.ashx?t=sec

All green at the moment - which makes a change from what has happened recently!

Yes, we have been following the market down for most of the year and still in the red.

thanks both!

So how do I get tax advice on investing in index funds? I'm not looking to become a day investor. I see this as I put the money in and forget about it and check back in 5 years kind of thing.

A popular strategy is "the couch potato" method.

Read about it here
https://www.investopedia.com/ask/answers/08/couch-potato-portfolio.asp

A thread on recommended reading is also here
https://www.early-retirement.org/forums/f28/fire-recommended-reading-list-22300.html

BogleHeads has a good wiki you can browse plus an article of the 3 fund portfolio
https://www.bogleheads.org/wiki/Three-fund_portfolio