16B. Demystifying Taxes & Investing for Americans with Dr. Jeff Devens, Part 3 - Qualifying for Social Security & Medicare

In this three-part bonus series, we take a deep dive into some very important aspects of tax filing and nest egg building for American citizens.  Even if money is not your thing, this series will help you save a lot -- if it prompts you to, as our guest Jeff Devens suggests, start asking critical questions. The three parts of the series are: 1-How to file US taxes using legal levers to maximize your advantages. 2-How to pay as few taxes as possible on your investment earnings (also legally!) while also minimizing future taxes. 3-Making sure you qualify for Social Security and, more importantly, Medicare upon your retirement from teaching overseas. For the past 26 years, Dr. Jeff Devens has worked in international education as a school psychologist, counselor, and classroom educator. Jeff holds undergraduate and graduate degrees in Psychology and Social Studies Education and completed his Ph.D. in School Psychology in 2006. 

In 2014 Jeff served as a member of a Crisis Response Team (CRT) supporting an international school going through two simultaneous crises. This experience profoundly impacted his understanding of finances and the necessity to support fellow educators as a form of psychological financial first-aid. Jeff is currently in the process of completing his certification from Boston University as a Certified Financial Planner. 

Jeff’s wife, Nanette, is also an international educator (high school music). They have two children: Cylas, age 17, and Cora, age 13. During his “free” time, Jeff enjoys exercising and competing in Jiu Jitsu, having earned his black belt in 2018.  

Our guiding question for the episode was, “What kinds of advice around taxation and retirement nest egg planning would you give to US Expats living overseas?”

Our chat was US-centric, looking at the US tax system and what US international educators need to know to grow their nest egg, making the most of beneficial tax rules. You can open the slideshow listed in the resource section below and use the visuals to help clarify concepts as you listen to the episode. 

This episode was recorded on December 12, 2022.  

Resources Mentioned in the Episode: 

Finances for International Educators  Slideshow

Enjoy our other interactions with Jeff:

Part 1: Tax Buckets and Credits

Part 2: Optimizing Brokerage Accounts

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