54: A Story Of Good Intentions, Bad Investments, And Why Doing “Some Research” Isn’t Enough When You're Living Between Tax Systems. | From The Trenches With James Boyle

Expat Wealth - Cross-Border Financial Advice for Expats in America and Americans Abroad · Aug 6, 2025 · 50m

Richard and James are back with more cautionary financial tales. Richard Taylor, founder of Plan First Wealth, recently spoke to a connection who “had done a bit of research, learned that mutual funds were a problem, hadn't learned what PFICs were, and switched out of a mutual fund into an investment trust... thinking he’d dodged the problem, but in fact he’d gone from one PFIC to another.” What was the result? And why is it such a problem? You’ll find out in this episode of From The Trenches.

Richard and James share real-world stories that highlight how easy it is to fall into tax traps when…