Welcome to our video about 401k options after leaving the US. In this video, we discuss the various options available for managing your 401k funds after moving out of the US. It’s essential to consult with your financial advisor before deciding which option is better for your needs. In this video, we explore four options – leaving the funds in the existing employer plan, rolling over the funds into an IRA, converting traditional IRA to Roth IRA, or withdrawing the funds out of the US. We also provide some valuable pro tips for managing your IRA accounts after moving to India. We hope you find this information helpful in making informed decisions about your 401k funds. Thank you for watching.

#backtoindia #401k #RNOR #IRA #rothconversion # ROTHIRA #india…(read more)

LEARN MORE ABOUT: IRA Accounts

TRANSFER IRA TO GOLD: Gold IRA Account

TRANSFER IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

If you decide to leave the United States to work or live abroad, you may be wondering what will happen to your 401k retirement savings plan. Fortunately, there are several options available that will allow you to manage your retirement savings even after leaving the US. Here are some of the most common 401k options for individuals living abroad:

1. Leave Your 401k plan with Your Employer

If you have a 401k plan with your current employer, you can choose to leave your plan with them even after you leave the US. This option is only available if your employer allows it, but it can be a good choice if you’re happy with your investment options and performance. However, you will need to make sure that you can access your 401k account from abroad, since some plans may only allow access from within the US.

2. Roll Over Your 401k into an IRA

If you don’t want to leave your 401k plan with your employer, you can choose to roll over your account into an Individual Retirement Arrangement (IRA). This option allows you to continue to invest in a tax-deferred account and gives you more flexibility and control over your investments than leaving your 401k with your employer. You can choose from a variety of IRA options, including traditional IRAs, Roth IRAs, and SEP IRAs, depending on your needs and circumstances.

3. Cash Out Your 401k

You can also choose to cash out your 401k when you leave the US, but this option should only be considered as a last resort. Not only will you incur taxes and penalties on the amount you withdraw, but you’ll also be forfeiting your retirement savings and potentially putting your future financial stability at risk.

4. Leave Your 401k plan with Fidelity

Another option available for individuals leaving the US is to leave their 401k plan with Fidelity. Fidelity offers expatriate services that can help manage your 401k plan while you’re living abroad. This option allows you to continue to contribute to your plan and invest in a wide variety of options with the help of Fidelity’s guidance and resources.

In conclusion, there are several options available for managing your 401k plan after leaving the US. Whether you choose to leave your plan with your employer, roll over your account into an IRA, cash out your 401k, or leave your plan with Fidelity, it’s important to carefully consider your options and consult with a financial advisor to make the best decision for your retirement goals.