{ "media_type": "text", "post_content": "Leaving the firm and the country. What do I do with my 401k? Any suggestions would be much appreciated. Don’t plan on returning to the US anytime soon and I’m in my late 20s.", "post_id": "5c63842586f85d0013b36f21", "reply_count": 8, "vote_count": 4, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Leaving the firm and the country. What do I do with my 401k? Any suggestions would be much appreciated. Don’t plan on returning to the US anytime soon and I’m in my late 20s.

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Roll it over to my 401k. I’ll keep it safe for ya

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Keep it — the money stays invested until retirement, which is what you bargained for when you put money away for retirement

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The only question is whether you plan to retire in the US or another country. If another country, you might consider putting your money in local currency assets to avoid FX risks. But that depends on the country of retirement. If you’re retiring in a country with an unstable economy, that might not be advisable

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Following as I will need to make the same decision later this year

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You may be able to shift it to a similar scheme in your country. I was able to do that for Australia.

Where are you going if you don’t mind?

401k is taxed and penalized when you withdraw it before retirement. You can withdraw it during the tax year where you don’t have US income. In that case it won’t get taxed and only penalized. It is still a bargain. Obviously I am assuming that you withdraw within the non-taxable limits.

But why?

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