I'm an expat thinking about starting a 401k. Is that a good move? I have no intention of retiring in the US but would be ok with leaving the money here until reaching retirement age.

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It’s one of the best inventions in American finance. It’s worth it just for the tax deduction from your salary. Max that shit out and don’t look back.

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Even without a company match you’d be crazy not to be buying into US stocks with pre-tax dollars.

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Also interested in this. I’ve heard mixed reviews but I think essentially, with a good company match, any taxes/penalties is far offset by the company contribution.

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As a foreigner myself I say go for it. Even if you don’t max it out, getting the minimum company match is literally free money on top of automatic savings. Plus what AD 1 said, it’s tax free. I’ve also heard that if you choose to leave the country for good, you can take it out without penalties. Keen to hear if this is true.

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Depending on your investing strategy that or a Roth IRA (or ideally both) is def worth having if you can keep to retirement with messing with it.

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Isn’t the tax-free version later taxable when you want to use it? I was advised to use post-tax because of this. (Also foreigner in the US)

That’s what I thought at first too, thanks for clarifying!

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Depends how long you plan to be in the US. The cost of transaction fees and taxes might not be worth it. When I lived in the UK, a financial advisor told me not to bother with a pension unless I planned on living in UK for a long time. I just saved money instead and transfer it when it’s a good exchange rate.

Completely different when you’re talking about UK or other pensions. 401k is an absolute no brainer

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