Resident or non-resident alien
The IRS uses two tests—the green card test and the substantial presence test—for assessing your alien status. If you satisfy the requirements of either one, you’re considered a resident alien for income tax purposes; otherwise, you’re treated as a non-resident alien.
If you're an alien with a green card, meaning the U.S. Citizenship and Immigration Service allows you to reside in the country legally, you are a resident alien. However, if you don’t have a green card and spend at least 31 days in the U.S. during the current tax year and a total of 183 days during the last three tax years (inclusive of the current tax year), you’ll usually satisfy the physical presence test and are also treated as a resident alien. Time is limited to arrange overseas assets. For the substantial presence test, use our online calculator to check if you could still qualify as a non-US tax resident. Or schedule a comprehensive financial planning session for a holistic review, encompassing tax planning.

Whole life insurance is a type of life insurance that provides coverage for the entire lifetime of the policyholder, offering benefits such as a guaranteed death benefit, cash value accumulation, and potential dividends. An annuity is a financial product offering periodic payments in return for an initial investment, providing benefits like tax-deferred growth, guaranteed income, and a hedge against longevity risk in retirement. Long-term care insurance is a financial product designed to cover the costs associated with extended care services, offering benefits such as assistance with daily activities, nursing home care, and in-home care. Regularly reviewing and updating your insurance coverage is essential for ensuring comprehensive protection against unexpected events, aligning with your financial goals. Explore our online insurance planning assessment tool to get instant quotes from top rated insurance companies, either purchase insurance policies online directly or book a call with our advisors to complete the process together. If you would like to see holistic insurance solutions, check our online self-overall financial planning tool to evaluate your risk profile or schedule a comprehensive financial planning session for a holistic review, encompassing insurance coverage.

When preparing an education fund, prioritize defining specific educational goals and costs, establishing a timeline for fund utilization. Regular savings contributions are crucial, utilizing educational savings accounts that with tax advantages. Explore financial aid options and scholarships. Periodically review and adjust investment strategies to align with changing circumstances and educational objectives. Access our online education fund assessment tool for self-guidance or opt for comprehensive financial planning, encompassing education fund strategies.

Commencing early retirement savings with consistent contributions leverages compounding benefits. Even modest investments accumulate substantially over time. Building a diversified investment portfolio aligned with risk tolerance and retirement goals is crucial, incorporating stocks, bonds, and various assets for risk distribution. Understand social security benefits and contemplate annuities as supplements. Regularly review and adjust retirement strategies based on evolving goals, financial situations, and market conditions. Utilize our online Retirement Planning Assessment tool or opt for comprehensive in-person financial planning for a holistic approach, encompassing retirement planning.

A comprehensive Estate planning includes the following: Will and Trusts: Establish a will or trust to dictate asset distribution after death, ensuring assets reach intended beneficiaries and minimizing legal complexities. Power of Attorney and Healthcare Directives: Designate individuals to manage financial affairs and make healthcare decisions if you become incapacitated. Minimize Tax Liabilities: Plan to minimize estate taxes through gifting strategies, trusts, or other mechanisms to protect assets and reduce tax burdens for heirs. Utilize our online Estate Planning Assessment tool to assess if you need comprehensive estate planning or opt for comprehensive in-person financial planning for a holistic approach, encompassing estate planning strategies.

Investment strategies in financial planning involve the deliberate allocation of funds into various financial instruments or assets to achieve specific financial goals. These strategies encompass risk assessment, asset allocation, and considering the time horizon or goals to optimize returns while managing risk. They aim to maximize returns based on an individual's risk tolerance and tax brackets, financial objectives, and the market conditions, ensuring a balanced and diversified investment portfolio. Explore our robot investment solutions Eden Intelligence Portfolio or in person investment solutions Eden Investment Management.