Moving to America, how do I pension plan?

B

Batman004

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Hi all,

Emigration, Ireland's release valve is starting, and I've been offered a job in NYC on an L1 visa, which will take a few months to process. In the meantime, I'm trying to get a grip on all things US of A. The company has sent me over reams of documentation to look through on health insurance, 401k, IRAs etc. and while I'm getting to grips with the healthcare stuff I haven't a clue what to do on the pension side of things.

I'm wondering if anyone here has gone through something similar and can maybe point me towards some good websites with explainers for dummies. A few key things I want to work through are as follows:
  1. If I take out a 401k/IRA and then move back to Ireland after say 6/7 years, what's the best thing to do with this money?
  2. Is it worth taking out a 401k if I don't plan on staying in the US?
  3. Any insights/places to look at on international pension planning from an Irish citizen perspective?
My salary will be $125k and I'm in my early thirties if that makes a difference on anything to consider.

Additionally, if you've any other top tips, I'm all ears!

Thanks a mill!!
 
You can't bring US pensions back to Ireland, it has to stay in America. Likewise, you can't bring an Irish pension over there. Whether it is worth your while taking one out depends on how long you intend to stay. The longer the stay, the more money you are leaving on the table.

You can also set up a US investment account over there that are cheap as chips. something like a betterment or vanguard account.



Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
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