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Is anyone here a foreigner working in the US, and contributing to your 401(k)? Is it worth it if you don’t plan to retire here? Insights appreciated.

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Yes, of course. You just leave it there and take it out in the future when you don’t need to pay any penalties. In the meantime you get the company match and pay less taxes. You can leave the US whenever you want. Your money is yours.

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Same here. Contributing as much as I can. Who knows what the future holds?!

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It’s still money saved for your retirement, regardless of where you retire.

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Yes and yes. I didn’t for the first few years but after reading a bunch it seems pretty possible to convert it to an IRA. I have 5% matching so even if it gets a 10% penalty, it’s free money. I am very sore about the money i missed out on but there we go.

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Same here. Left it way too late, always thinking i'd move back soon and it wouldn't worth it.

I think so. I've been in the US ten years and built up close to half a million tax free in 401k accounts. The tax benefit and the employee match make this totally worthwhile. And you should be able to transfer the money to a domestic retirement account when you return to your home country, or leave it in the US and have a dollar denominated pension when you retire in your home country.

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Can you actually save on taxes when you withdrawal if you retire in another country? I haven’t asked my accountant that but if so, I’m retiring overseas.

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