I could potentially find myself in a similar bind one day (US/EU dual). After thinking about it, I think that I would keep stock mutual funds in my 401Ks/IRAs because then I would only have to meet income reporting requirements on the withdrawals. In my case, taxable savings would then probably be invested in CDs and/or an immediate annuity.
46 years old, single, no kids. Exited the job market in 2010 (age 36). Have lived solely off my investments since 2015 (age 41). No pensions.
Current AA: real estate 64% / equities 10% / fixed income 16% / cash 10%