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 401(k) on H1b
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Posted on 02-12-10 2:04 PM     Reply [Subscribe]
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Is it a good idea to invest in 401(k) while on H1b when the long-term stay in US isn't planned/decided yet? Your opinions and experiences are appreciated!


Thanks,


delicate


 
Posted on 02-12-10 2:26 PM     Reply [Subscribe]
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absolutley.......start saving now........in case you have to leave, you will always be able to withdraw your money........this reduces your tax burden a lot.......
 
Posted on 02-12-10 2:27 PM     Reply [Subscribe]
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that will be a kind of saving/investment. go for it.
If u need it later, you can take it out after paying tax and may be a fee but even then you will still be in advantage I believe. Don't forget company matches certain portion on it.

 
नगनाउने गु
Posted on 02-12-10 2:30 PM     Reply [Subscribe]
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Its a no brainer. I would put as much as I could in 401K.


 
Posted on 02-12-10 2:37 PM     Reply [Subscribe]
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dont forget your employer matches your contribution!! but also keep in mind that like any other investments it comes with risk(depends upon the company) and also you might loose some when u make premature withdrawal
Last edited: 12-Feb-10 02:38 PM

 
Posted on 02-12-10 3:04 PM     Reply [Subscribe]
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Last edited: 13-Feb-10 01:02 AM

 
Posted on 02-14-10 12:05 PM     Reply [Subscribe]
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Hi 
 It is always a good idea to invest in 401K  for a number of resons 
 - First its pre-tax  deduction from your income , which gives changes of you saving in taxes
-your employer matches it , so thats another advantage 
-The value of your 401K grows in long term  as its ultimately invested in bonds and stock options.History has shows it tends to do so .All financial consultants encourage  people to invest when  market is down 
.Because the layman's rule is Buy when its low , sell when its high :)

However , you would wanna think long term in terms of investing on it .
-First you benifit a lot if you can take the amount after your retirement age (I think its 65 currently) as your taxable income will be very minimum after you retire and so will be your tax on your 401K then 
-There is a fine when you either cash and/or take loan from your 401K  before your retirement age .
-Plus they will tax you on the remaining amount (As it was pre-tax to begin with)

So the basic rule is if you think you can put aside a portion of your pay now and wait untill you retire in Hawaii :) ,go for it .Else I would think as per my personal situation .

I would recommend you watch Suzi Orman show regularly .She has lot a personal insite on this .You can also email or call on her show personally .

FYI , I invested in 401K when i had opportunity .Since i,m not in US now , i have let it stay and mature so i can be there next to you in Hawaii :)


 


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