Book Review: The Dougherty Code

Reviewed by Jadidsa Perez

Charming and witty, The Dougherty Code emblazons the financial world for American expats living in Europe.

When making the heart-pounding, life altering decision to move from the United States to Europe, many people consider the finances before the trip: flights, apartments, etc. However, how often does one think about what finances will be once there? 

Navigating an American citizenship and European finances can be a treacherous road. This is an issue that Peter Dougherty, the author of The Dougherty Code, has realized and decided to tackle with this book. A former Wall Street bond specialist, Dougherty realized the limitations of his career and decided to move to Valencia, Spain. In a financial advisory market that is currently saturated by robo advisors and artificial intelligence, Dougherty hopes to offer human advice to American expats traversing investments. 

Rather than immediately confront the reader with financial knowledge, Dougherty begins The Dougherty Code by telling a story of learning Spanish “drip by drip” and working hard. This inclusion sets the tone nicely for the rest of the book. Dougherty does not expect the reader or any of his clients to have an expansive knowledge on the intricacies of European and American policies; thus, he provides the information in this “drip by drip” format. It’s broken down in a hospitable way that many will appreciate. 

One of the best examples of this is the section centered on retrocessions. As someone who has never encountered the term before, the doctor analogy proved extremely helpful in grasping retros. Dougherty includes historical context and weighs the opposing opinions to give the reader a fair chance of forming their own opinions on the topic. The Dougherty Code is a great nook in the bookshelf of finances; the terms that needed to be covered are done in a contemporary, friendly way that American expats will certainly welcome.

Although the brunt of the book is to assist American expats in Spain and to explain Dougherty’s firm, this information can also be helpful for others who do not fit into that initial criteria. The chapter titled “Americans in Spain” is especially enlightening on the uniqueness of United States taxes. It hones in on particular tax laws that are imperative to learn about for those that are American citizens and live abroad anywhere. It can also serve as guidance for other financial advisors who feel stuck in their current role and want to see what the world has to offer. 

I would recommend The Dougherty Code to anyone that is interested in international financial advisory. The book covers an array of topics in a way that is matter-of-fact and easily digestible.

---

Thank you for reading Jadidsa Perez’s book review of The Dougherty Code by Peter Dougherty! If you liked what you read, please spend some more time with us at the links below.