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Retirement Plan |
Desi |
12/27/2017 04:30 PM |
Hi Guys,
Anyone of you having retirement plan? things really scares me I am 35 years old, no retirement plan yet, will hardly able to survive in this Tough IT World for next 20 years max, then what is my income, will I able to work? my family is having daibetes history, soon or less I will be getting infected!! so I definitely need some kind of source!!
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Re: Retirement Plan |
Desi |
12/27/2017 04:41 PM |
I am on H1B not us citizen, Green card just started, so I dont think I am eligible to green card either. Do let me know what are the good retirement plans.
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Re: Retirement Plan |
RJ |
12/28/2017 09:31 AM |
Invest in nuclear defense missile systems and fallout shelters.
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Re: Re: Re: Re: Re: Re: Retirement Plan |
boluck |
12/28/2017 01:46 PM |
If you plan to stay in US for 20 or more years, chances are you will get GC or citizenship. In that case, you will get Social Security, even if you move to India. In India a Social Security check of even $1K will give you 65000, at current rates, even more if dollar rises. So, there's your retirement planning if you plan to retire in India.
Ofcourse, this is a very simple solution. The best bet is to start saving and investing. Remember time is your best ally, so start ASAP. Does not matter how much, but start as soon as you can. If your employer offers 401K matching, do invest upto matching atleast, because that is free money. Look into vanguard Mutual funds (low cose index funds are best). Open an IRA/Roth IRA if you are eligible.
This forum is not a good place to look for options. Consult a finacial advisor, and better still educate yourself. If you have any specific questions feel free to emal me at ctdesi10 (at) gmail.com.
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Re: Retirement Plan |
AB |
12/28/2017 06:01 PM |
This forum is not the best place to discuss especially because most of the Desi's does not invest in US however
Here is my 2 cents !
1. 401k is one of the best available especially if your employer match some money ! I invest in this one !
2. 529 Plan. This is for education, state gives 500$ rebate on tax for upto 10k investment ! I invest in this one !
3. If you are in High deductible Health plan, you can put some money in HSA, this may help you to pay medical bills and this never expire. I used to invest in this one too but now I am not eligible !
Regarding H1B, even if you do not have GC, investment is really great option. You will not loose money especially because when you exit, your tax bracket will be much lower than today so even after 10% penalty, you may save !
Hope this helps !
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