Those who are in H1 or student visa or immigrants
Is it worth putting your money in 401K ?

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OP- like mentioned before, it depends. Hard to give a yes or no advice without having any information about your portfolio and future aspirations. What might work for me as a H1b holder may not work for u. Some of the questions to consider:

1) Do you have Masters/ PhD? Do you plan on getting advanced degree? Do you have money saved for it?

2) Do you plan on buying real estate in the near future? Do you have at least 20% saved for down payment?

3) Do you have enough liquid asset saved for the next 6 months?

4) Do you have loans to pay back? How high is the interest?

5) Do you foresee any big transactions in the next 5 years? (Wedding, inheritance, investing in your startup)

If I didn’t have the expertise and knowledge in doing these calculations, didn’t want to reach out to a financial analyst and wanted to take the mid way, I would not contribute to 401k until my firm starts matching my contribution and when I’m eligible to get firm matching, contribute only up to the max firm matching %.

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EY1 - would you recommend any good financial analysts for folks on H1B for some advice? Just want to make sure I’m making the right decisions..

Should at least contribute to get all the company match. It’s free money minus the vesting period (if any)

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Yes, if you're likely to go back home for retirement you will have 0 US based income so the only income that will be taxed is your 401k, at one of the lowest tax brackets.

But what if we want to have that income before going home ?
Won't that be charged alot
I am not sure about all this.

401k money is for retirement so unless you’re close you won’t have it for a while

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I have just started my job here..
And with the current immigration issues I am not certain about my future in USA.
So was confused whether to put money or not ?
Can anyone pls advice

We've already advised you...

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