Agree with Siagi that some more information would be helpful for us to provide useful suggestions. But on the narrow question of country consolidation vs diversification, happy to give my experience. I only have two countries involved (US and UK), I'm now a dual citizen, and I currently live and plan to remain in the UK long term.
I have moved the bulk of my day-to-day financials to the UK, leaving just enough in the US to deal with the occasional need to deal with US based stuff (e.g. IRS, gifts, etc.), and I'm still in the process of drawing down some US savings via spending on a US credit card in the UK. For redundancy, I'll keep at least two bank accounts and two credit cards, it's not uncommon for unexpected things to happen to make one less useful (e.g. I just got a new phone, and Capital One cards won't verify with Apple Pay outside the US - since everybody looks at me funny if I have to sign a receipt in the UK, that makes it annoying to use for any purchases over the £100 contactless limit).
But for investments, it's hugely dependent on tax treatment. If I liquidated my 401k early, I'd pay UK income tax rates (45% for me), plus US penalties (10% I think) - 55% gone before I even see it. That makes no sense, so I'll keep my 401k invested in the US until I at least reach US retirement age, and then draw from it as part of my overall retirement plan. Same for IRAs, although since they're Roth the pain isn't so bad.
So my initial thoughts for you would be:
1. If you're now living in the same country you plan to stay in for the long term, it's sensible to consolidate day-to-day finances (banking, credit cards, etc.) - no point in leaving a long trail of small accounts behind you. But if you continue to travel to and/or have financial dealings in your "old" countries, you may want to leave some facilities there.
2. Moving investments hugely depends on tax treatment. If you can move them without adverse tax consequences, it's certainly simpler to be in one country, one system. But that may have big costs.
I have moved the bulk of my day-to-day financials to the UK, leaving just enough in the US to deal with the occasional need to deal with US based stuff (e.g. IRS, gifts, etc.), and I'm still in the process of drawing down some US savings via spending on a US credit card in the UK. For redundancy, I'll keep at least two bank accounts and two credit cards, it's not uncommon for unexpected things to happen to make one less useful (e.g. I just got a new phone, and Capital One cards won't verify with Apple Pay outside the US - since everybody looks at me funny if I have to sign a receipt in the UK, that makes it annoying to use for any purchases over the £100 contactless limit).
But for investments, it's hugely dependent on tax treatment. If I liquidated my 401k early, I'd pay UK income tax rates (45% for me), plus US penalties (10% I think) - 55% gone before I even see it. That makes no sense, so I'll keep my 401k invested in the US until I at least reach US retirement age, and then draw from it as part of my overall retirement plan. Same for IRAs, although since they're Roth the pain isn't so bad.
So my initial thoughts for you would be:
1. If you're now living in the same country you plan to stay in for the long term, it's sensible to consolidate day-to-day finances (banking, credit cards, etc.) - no point in leaving a long trail of small accounts behind you. But if you continue to travel to and/or have financial dealings in your "old" countries, you may want to leave some facilities there.
2. Moving investments hugely depends on tax treatment. If you can move them without adverse tax consequences, it's certainly simpler to be in one country, one system. But that may have big costs.
Statistics: Posted by tubaleiter — Tue Nov 25, 2025 12:54 am — Replies 2 — Views 203