Whether to invest in a 401k is one of the first questions that anyone has when they start working in the US. In this video, we talk about how much you could benefit by contributing to this plan even as a Foreign National.
📈 LIMITED TIME: Get 2 free stocks from Webull (worth up to $1850!): [ Ссылка ]
👉 Invest with Robinhood for a free stock: [ Ссылка ]
💸 Get $10 in crypto with Coinbase: [ Ссылка ]
✦ Get $20 with Rakuten cashback: [ Ссылка ]
🔻WATCH NEXT🔻
More smart money moves for F1/H1B Visa holders:
[ Ссылка ]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
✅ Don’t forget to LIKE, SHARE AND SUBSCRIBE!
► Follow us on Instagram! [ Ссылка ]
🔥 For business inquiries, contact aishandarjun@gmail.com
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
💰 Credit Cards that we use and love:
○ Earn $200 cash back with Chase Freedom Flex or Freedom Unlimited credit card.
[ Ссылка ]
○ Become a Discover Cardmember and get a $50 Statement Credit [ Ссылка ]
A 401K is an employer-sponsored retirement savings account that allows an employee to deposit a portion of his/her salary into long term investments. There are two types - Traditional and Roth, each with its own tax advantages.
Within your 401k, you can invest in a combination of assets like stocks and bonds. If all the different investment options feel too overwhelming, start with ‘Target Date Funds’ that auto-balance your asset allocation based on the date you wish to retire.
You could be missing out on thousands and thousands of dollars if you don’t contribute at least up to the employer match. This applies to visa holders (f1/h1b/l1) too who might not be sure how long they will actually stay in the country.
If you decide to leave the US to a different country, you have 3 options:
- Early withdrawal with a 10% penalty
- Leave in the US and withdraw after 59.5
- Rollover into an IRA
Allowing your investment to remain in the US (option 2 or 3) and compound over time is an attractive option due to the strength of the dollar Vs. other currencies.
2020 Contribution Limits:
[ Ссылка ]
---------------------------
*** Personal Finance books I recommend:
I Will Teach You to be Rich by Ramit Sethi: [ Ссылка ]
Little Book of Common Sense Investing by Jack Bogle: [ Ссылка ]
Rich Dad Poor Dad by Robert Kiyosaki: [ Ссылка ]
The Intelligent Investor by Benjamin Graham: [ Ссылка ]
The Millionaire Next Door by Thomas Stanley: [ Ссылка ]
DISCLAIMER:
The content in this video and the comments is for informational/entertainment purposes only. The creators take no responsibility for any actions or decisions you may take based on the contents of the video. Please consult a professional for strategies related to your specific needs.
DISCLOSURE:
Some of the links in this description are promo links, meaning that I may receive a small commission when you sign up for these services.
-----------------
ABOUT US:
We want to share our stories and talk about lessons learned while first moving to America, planning our journey to financial literacy, and adopting best practices into our lives.
As internationals, it was difficult to find relevant resources to understand the aspects of life that were different in a new country. Some of us come from places that treat the path to success as a "competition" and as a result, we shy away from having open conversations about money.
This channel is a comfortable space to have those discussions and help each other out!
Type of content:
* Personal Finance
* Investing
* Managing the Move
* Adopting a Money Mindset
Music: [ Ссылка ]
#401k #investingh1b #h1b #f1 #personalfinanceh1b
![](https://i.ytimg.com/vi/x9imVkOoHOw/maxresdefault.jpg)