To save or not to save (For retirement)

**disneysteve** · 12-13-2011, 09:51 AM

Originally posted by Sir Casm View Post

What will happen to my retirement savings (401K) or ROTH or anything like that if I decide to move back to my home country? Will I get the money back or will it stay stuck here?

Here it is I am in states but i am not sure for how many years may be for 10 may be for life. I cannot afford not to save for my retirement; if i have to live here i have to save. My concern is if i decide to leave, What will happen to all that money i put towards my retirement?

The money would still be yours. You could get it at the appropriate age just as if you stayed here. You could withdraw the contributions you made to a Roth prior to retirement but why would you want to? No matter where you live, you will need money when you retire, won't you?

**Sir Casm** · 12-13-2011, 10:04 AM

Originally posted by disneysteve View Post

The money would still be yours. You could get it at the appropriate age just as if you stayed here. You could withdraw the contributions you made to a Roth prior to retirement but why would you want to? No matter where you live, you will need money when you retire, won't you?

Yes, I will need money no matter when and where i retire, If that's the case i am good.

**kork13** · 12-13-2011, 02:41 PM

One thing to be aware of, it can become difficult to maintain investment/retirement accounts if you move out of the USA. The Patriot Act (or one of the similar pieces of legislation of late) placed the requirement to hold a stateside address in order to maintain a US banking or investment account. I've lived overseas for most of my life (and currently live in Japan), so that requirement has been quite cumbersome to work around.

If you can manage it, then I would absolutely agree, and say you should just leave any funds invested where you have them. However, if living overseas ever becomes an issue, my best advice would be to withdraw your money and bring it back to your home country.

Besides, isn't it only at tax time that the withdrawal penalties are applied? Not that I'm encouraging tax evasion or anything, but as a resident non-citizen (I'm guessing that's your status, based on there being another "home country"?), I'm not sure how tax filing works for your situation.

**Sir Casm** · 12-14-2011, 10:09 AM

Originally posted by kork13 View Post

One thing to be aware of, it can become difficult to maintain investment/retirement accounts if you move out of the USA. The Patriot Act (or one of the similar pieces of legislation of late) placed the requirement to hold a stateside address in order to maintain a US banking or investment account. I've lived overseas for most of my life (and currently live in Japan), so that requirement has been quite cumbersome to work around.

That's exactly what i am worried about. I am a non resident alien.

To save or not to save (For retirement)