A US citizen inherits a family property in India. A mutual fund he's held for years suddenly won't accept him as an investor anymore. His old Indian bank account becomes illegal to keep in its original form. None of this is a mistake, it's what happens when two entirely separate financial systems collide.
Amol Desai, CFP® and CFA and founder of Perceptive Wealth Advisors, joins the podcast to unpack exactly this, drawing on his own journey as a first-generation immigrant from India and the cross-border planning practice he built around it.
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CHAPTER TIMESTAMPS
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00:00 - From engineering student to cross-border financial advisor
03:17 - The wealth and education assumptions behind first-generation immigrants
05:45 - Why NRIs are legally required to convert their Indian bank accounts
08:30 - NRE versus NRO: what each account is actually for
12:15 - How Indian mutual funds became a US tax problem nobody saw coming
15:36 - A $180,000 lesson in gifting versus waiting for inheritance
27:24 - What to ask before hiring a cross-border advisor
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ABOUT THE GUEST
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Amol Desai is a CFP® and CFA, founder of Perceptive Wealth Advisors, and a member of the Passport To Wealth® Directory. He specializes in US-India cross-border financial planning for first-generation immigrants, work he began after navigating these exact challenges himself.
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ABOUT YOUR HOST
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Arielle Tucker, CFP® & IRS Enrolled Agent with Connected Financial Planning, is a cross-border financial planner based in Switzerland helping Americans living abroad navigate U.S. taxes, international investments, and cross-border financial planning.
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LOVE THIS EPISODE?
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Follow the show and leave a rating on Apple Podcasts or Spotify, it's the single biggest thing you can do to help other cross-border families find this show.
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ABOUT PASSPORT TO WEALTH®
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Passport To Wealth® is the platform for current and aspiring US expats. We connect globally mobile Americans with vetted, licensed cross-border financial advisors, tax professionals, and relocation experts who understand the financial and legal complexities of life abroad.
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LINKS & RESOURCES
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Website: https://www.passporttowealth.com
Instagram: https://www.instagram.com/passporttowealthofficial
LinkedIn: https://www.linkedin.com/company/passport-to-wealth
Connect with Amol on LinkedIn: https://www.linkedin.com/in/amol-desai
Visit Amol's Directory page: https://www.passporttowealth.com/amol-desai
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This episode is for educational purposes only and does not constitute tax, legal, or financial advice. Individual circumstances vary. Consult a qualified cross-border financial professional before making any financial or tax decisions.
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