Your Money Minute Foreign Born Resident Backup Plan 7/9/25
Jul 9, 2025
This episode dives into the vital financial strategies for foreign-born residents navigating life in the U.S. It highlights the importance of having a solid backup plan, emphasizing tools like a financial power of attorney. Listeners learn about accessing pro bono financial planning resources to strengthen their financial security. The discussion also touches on the significance of considering immigration concerns in overall financial preparedness.
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Foreign-born Residents' Challenges
- Foreign-born U.S. residents face unique immigration and travel-related concerns impacting their lives.
- These issues include worries about raids, deportation, and delays re-entering the U.S.
Set Financial Backup Plan
- Have a financial backup plan to avoid missed payments during potential absence.
- Set up financial power of attorney to grant access to your finances if you can't manage them.
Use Pro Bono Financial Advisors
- Utilize pro bono financial planning services if you need help establishing a backup plan.
- Financial advisors can be found through the Financial Planning Association and CFP Board offering free support.