Does it make sense to start saving into a 401k, if you might move out of the US before retirement?Should I open an RRSP if I don't plan to retire in Canada?If a non-citizen non-US-resident withdraws from their 401k, are they taxed based on their US income or worldwide income?Green Card holder (permanent resident): Should I contribute to my employer-matched 401(k), even if I might leave the U.S. later?Employer overpaid 401k - what's my liability?Over contribution to 401K between two employers, and maximizing employer match?Which earnings can be withdrawn when making an in-service withdrawal from a 401k?Could my employer give me a raise in terms of employer 401k contributions instead of salary?New 401(k) account, barely funded: can I withdraw penalty-free?What happens to the company match for a 401k over-contribution?Does 401k on H-1b visa make sense when there is an employer match?How to intentionally overcontribute to 401(k) to maximize new employer's matching?Two jobs two 401K both matches up to 6%
Why is there a cap on 401k contributions?
While drilling into kitchen wall, hit a wire - any advice?
Game artist computer workstation set-up – is this overkill?
How could a humanoid creature completely form within the span of 24 hours?
And now you see it
How do I minimise waste on a flight?
How can I test a shell script in a "safe environment" to avoid harm to my computer?
Which "exotic salt" can lower water's freezing point by 70 °C?
What is more safe for browsing the web: PC or smartphone?
What is the Ancient One's mistake?
Make me a minimum magic sum
Crime rates in a post-scarcity economy
How to make a kid's bike easier to pedal
What's the 2-minute timer on mobile Deutsche Bahn tickets?
Scaling rounded rectangles in Illustrator
When does WordPress.org notify sites of new version?
The unknown and unexplained in science fiction
Why did Dr. Strange keep looking into the future after the snap?
Gift for mentor after his thesis defense?
How to increase row height of a table and vertically "align middle"?
What is the meaning of "matter" in physics?
How to get the decimal part of a number in apex
Select list elements based on other list
How can I finally understand the confusing modal verb "мочь"?
Does it make sense to start saving into a 401k, if you might move out of the US before retirement?
Should I open an RRSP if I don't plan to retire in Canada?If a non-citizen non-US-resident withdraws from their 401k, are they taxed based on their US income or worldwide income?Green Card holder (permanent resident): Should I contribute to my employer-matched 401(k), even if I might leave the U.S. later?Employer overpaid 401k - what's my liability?Over contribution to 401K between two employers, and maximizing employer match?Which earnings can be withdrawn when making an in-service withdrawal from a 401k?Could my employer give me a raise in terms of employer 401k contributions instead of salary?New 401(k) account, barely funded: can I withdraw penalty-free?What happens to the company match for a 401k over-contribution?Does 401k on H-1b visa make sense when there is an employer match?How to intentionally overcontribute to 401(k) to maximize new employer's matching?Two jobs two 401K both matches up to 6%
.everyoneloves__top-leaderboard:empty,.everyoneloves__mid-leaderboard:empty,.everyoneloves__bot-mid-leaderboard:empty margin-bottom:0;
Contributions to 401k funds are subject to a 10% penalty if taken out before the age of 59.5. Presuming my employer has a 401k matching program, does it make sense to contribute to a 401k if I might move out of the US before the age of 59.5 and therefore take my savings with me to another country?
united-states 401k penalty moving employer-match
edited 8 hours ago
Chris W. Rea
26.7k1587175
asked 8 hours ago
JonathanReezJonathanReez
1,72541626
add a comment |
Contributions to 401k funds are subject to a 10% penalty if taken out before the age of 59.5. Presuming my employer has a 401k matching program, does it make sense to contribute to a 401k if I might move out of the US before the age of 59.5 and therefore take my savings with me to another country?
united-states 401k penalty moving employer-match
edited 8 hours ago
Chris W. Rea
26.7k1587175
asked 8 hours ago
JonathanReezJonathanReez
1,72541626
Related: money.stackexchange.com/questions/89968/…
– JonathanReez
8 hours ago
Is the question from the point of view of a citizen of the US who plans to retire as an expat in the other country, or a non-US citizen?
– user662852
8 hours ago
@user662852 non-US citizen
– JonathanReez
8 hours ago
Is there something that prevents you from keeping your funds in your 401k even if you move out of the country? Then, just take it out when you turn 59.5?
– Better Budget
6 hours ago
@BetterBudget lots of headache managing a fund in a foreign country, potentially
– JonathanReez
5 hours ago
add a comment |
Contributions to 401k funds are subject to a 10% penalty if taken out before the age of 59.5. Presuming my employer has a 401k matching program, does it make sense to contribute to a 401k if I might move out of the US before the age of 59.5 and therefore take my savings with me to another country?
united-states 401k penalty moving employer-match
edited 8 hours ago
Chris W. Rea
26.7k1587175
asked 8 hours ago
JonathanReezJonathanReez
1,72541626
Contributions to 401k funds are subject to a 10% penalty if taken out before the age of 59.5. Presuming my employer has a 401k matching program, does it make sense to contribute to a 401k if I might move out of the US before the age of 59.5 and therefore take my savings with me to another country?
united-states 401k penalty moving employer-match
united-states 401k penalty moving employer-match
edited 8 hours ago
Chris W. Rea
26.7k1587175
asked 8 hours ago
JonathanReezJonathanReez
1,72541626
edited 8 hours ago
Chris W. Rea
26.7k1587175
asked 8 hours ago
JonathanReezJonathanReez
1,72541626
edited 8 hours ago
Chris W. Rea
26.7k1587175
edited 8 hours ago
Chris W. Rea
26.7k1587175
edited 8 hours ago
Chris W. Rea
26.7k1587175
26.7k1587175
asked 8 hours ago
JonathanReezJonathanReez
1,72541626
asked 8 hours ago
JonathanReezJonathanReez
1,72541626
asked 8 hours ago
JonathanReezJonathanReez
1,72541626
1,72541626
Related: money.stackexchange.com/questions/89968/…
– JonathanReez
8 hours ago
Is the question from the point of view of a citizen of the US who plans to retire as an expat in the other country, or a non-US citizen?
– user662852
8 hours ago
@user662852 non-US citizen
– JonathanReez
8 hours ago
Is there something that prevents you from keeping your funds in your 401k even if you move out of the country? Then, just take it out when you turn 59.5?
– Better Budget
6 hours ago
@BetterBudget lots of headache managing a fund in a foreign country, potentially
– JonathanReez
5 hours ago
add a comment |
Related: money.stackexchange.com/questions/89968/…
– JonathanReez
8 hours ago
Is the question from the point of view of a citizen of the US who plans to retire as an expat in the other country, or a non-US citizen?
– user662852
8 hours ago
@user662852 non-US citizen
– JonathanReez
8 hours ago
Is there something that prevents you from keeping your funds in your 401k even if you move out of the country? Then, just take it out when you turn 59.5?
– Better Budget
6 hours ago
@BetterBudget lots of headache managing a fund in a foreign country, potentially
– JonathanReez
5 hours ago
Related: money.stackexchange.com/questions/89968/…
– JonathanReez
8 hours ago
Related: money.stackexchange.com/questions/89968/…
– JonathanReez
8 hours ago
Is the question from the point of view of a citizen of the US who plans to retire as an expat in the other country, or a non-US citizen?
– user662852
8 hours ago
Is the question from the point of view of a citizen of the US who plans to retire as an expat in the other country, or a non-US citizen?
– user662852
8 hours ago
@user662852 non-US citizen
– JonathanReez
8 hours ago
@user662852 non-US citizen
– JonathanReez
8 hours ago
Is there something that prevents you from keeping your funds in your 401k even if you move out of the country? Then, just take it out when you turn 59.5?
– Better Budget
6 hours ago
Is there something that prevents you from keeping your funds in your 401k even if you move out of the country? Then, just take it out when you turn 59.5?
– Better Budget
6 hours ago
@BetterBudget lots of headache managing a fund in a foreign country, potentially
– JonathanReez
5 hours ago
@BetterBudget lots of headache managing a fund in a foreign country, potentially
– JonathanReez
5 hours ago
add a comment |
1 Answer
1
active
oldest
votes
It does make sense to contribute to your 401k, even if you plan to move out of the country. Besides the "headache managing a fund in a foreign country", you can keep your 401k even if you're residing in a foreign country (source). Your best financial outcome would be to contribute to your 401k with matches and hold it until you're 59.5 and just figure out how to minimize the "headache".
answered 5 hours ago
Better BudgetBetter Budget
33613
New contributor
Better Budget is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
2
This does depend on the country. Some will tax you on the yearly gains of the 401k anyway. Then you will be taxed again by the US during draw down.
– Vality
5 hours ago
add a comment |
Your Answer
StackExchange.ready(function()
var channelOptions =
tags: "".split(" "),
id: "93"
;
initTagRenderer("".split(" "), "".split(" "), channelOptions);
StackExchange.using("externalEditor", function()
// Have to fire editor after snippets, if snippets enabled
if (StackExchange.settings.snippets.snippetsEnabled)
StackExchange.using("snippets", function()
createEditor();
);
else
createEditor();
);
function createEditor()
StackExchange.prepareEditor(
heartbeatType: 'answer',
autoActivateHeartbeat: false,
convertImagesToLinks: true,
noModals: true,
showLowRepImageUploadWarning: true,
reputationToPostImages: 10,
bindNavPrevention: true,
postfix: "",
imageUploader:
brandingHtml: "Powered by u003ca class="icon-imgur-white" href="https://imgur.com/"u003eu003c/au003e",
contentPolicyHtml: "User contributions licensed under u003ca href="https://creativecommons.org/licenses/by-sa/3.0/"u003ecc by-sa 3.0 with attribution requiredu003c/au003e u003ca href="https://stackoverflow.com/legal/content-policy"u003e(content policy)u003c/au003e",
allowUrls: true
,
noCode: true, onDemand: true,
discardSelector: ".discard-answer"
,immediatelyShowMarkdownHelp:true
);
);
Sign up or log in
StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
StackExchange.ready(
function ()
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f108661%2fdoes-it-make-sense-to-start-saving-into-a-401k-if-you-might-move-out-of-the-us%23new-answer', 'question_page');
);
Post as a guest
Required, but never shown
1 Answer
1
active
oldest
votes
1 Answer
1
active
oldest
votes
active
oldest
votes
active
oldest
votes
It does make sense to contribute to your 401k, even if you plan to move out of the country. Besides the "headache managing a fund in a foreign country", you can keep your 401k even if you're residing in a foreign country (source). Your best financial outcome would be to contribute to your 401k with matches and hold it until you're 59.5 and just figure out how to minimize the "headache".
answered 5 hours ago
Better BudgetBetter Budget
33613
New contributor
Better Budget is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
2
This does depend on the country. Some will tax you on the yearly gains of the 401k anyway. Then you will be taxed again by the US during draw down.
– Vality
5 hours ago
add a comment |
It does make sense to contribute to your 401k, even if you plan to move out of the country. Besides the "headache managing a fund in a foreign country", you can keep your 401k even if you're residing in a foreign country (source). Your best financial outcome would be to contribute to your 401k with matches and hold it until you're 59.5 and just figure out how to minimize the "headache".
answered 5 hours ago
Better BudgetBetter Budget
33613
New contributor
Better Budget is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
2
This does depend on the country. Some will tax you on the yearly gains of the 401k anyway. Then you will be taxed again by the US during draw down.
– Vality
5 hours ago
add a comment |
It does make sense to contribute to your 401k, even if you plan to move out of the country. Besides the "headache managing a fund in a foreign country", you can keep your 401k even if you're residing in a foreign country (source). Your best financial outcome would be to contribute to your 401k with matches and hold it until you're 59.5 and just figure out how to minimize the "headache".
answered 5 hours ago
Better BudgetBetter Budget
33613
New contributor
Better Budget is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
It does make sense to contribute to your 401k, even if you plan to move out of the country. Besides the "headache managing a fund in a foreign country", you can keep your 401k even if you're residing in a foreign country (source). Your best financial outcome would be to contribute to your 401k with matches and hold it until you're 59.5 and just figure out how to minimize the "headache".
answered 5 hours ago
Better BudgetBetter Budget
33613
New contributor
Better Budget is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
answered 5 hours ago
Better BudgetBetter Budget
33613
New contributor
Better Budget is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
answered 5 hours ago
Better BudgetBetter Budget
33613
answered 5 hours ago
Better BudgetBetter Budget
33613
33613
New contributor
Better Budget is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
New contributor
Better Budget is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.
2
This does depend on the country. Some will tax you on the yearly gains of the 401k anyway. Then you will be taxed again by the US during draw down.
– Vality
5 hours ago
add a comment |
2
This does depend on the country. Some will tax you on the yearly gains of the 401k anyway. Then you will be taxed again by the US during draw down.
– Vality
5 hours ago
2
2
This does depend on the country. Some will tax you on the yearly gains of the 401k anyway. Then you will be taxed again by the US during draw down.
– Vality
5 hours ago
This does depend on the country. Some will tax you on the yearly gains of the 401k anyway. Then you will be taxed again by the US during draw down.
– Vality
5 hours ago
add a comment |
Thanks for contributing an answer to Personal Finance & Money Stack Exchange!
- Please be sure to answer the question. Provide details and share your research!
But avoid …
- Asking for help, clarification, or responding to other answers.
- Making statements based on opinion; back them up with references or personal experience.
To learn more, see our tips on writing great answers.
Sign up or log in
StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
StackExchange.ready(
function ()
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f108661%2fdoes-it-make-sense-to-start-saving-into-a-401k-if-you-might-move-out-of-the-us%23new-answer', 'question_page');
);
Post as a guest
Required, but never shown
Sign up or log in
StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
Sign up or log in
StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
Sign up or log in
StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Sign up using Google
Sign up using Facebook
Sign up using Email and Password
Post as a guest
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Required, but never shown
Related: money.stackexchange.com/questions/89968/…
– JonathanReez
8 hours ago
Is the question from the point of view of a citizen of the US who plans to retire as an expat in the other country, or a non-US citizen?
– user662852
8 hours ago
@user662852 non-US citizen
– JonathanReez
8 hours ago
Is there something that prevents you from keeping your funds in your 401k even if you move out of the country? Then, just take it out when you turn 59.5?
– Better Budget
6 hours ago
@BetterBudget lots of headache managing a fund in a foreign country, potentially
– JonathanReez
5 hours ago