F1 OPT Investments

Apple dododragon
Nov 11, 2018 21 Comments

People on F1 visa are considered non resident aliens. So we cannot make these investments.
1. Open one of those high yield savings account like discover, ally and get 2+% returns.
2. Open a fixed term CD and get 3+%
3. Real estate (difficult to get mortgage on F1)

I've invested considerable amounts on money on VOO, VIX and I'm not willing to invest more into stocks (don't put all your eggs into one basket?). Where do you suggest I park my extra cash that would earn better than the standard 0.01% - 0.4% interest rates?

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TOP 21 Comments
  • Amazon salman
    Wow you are rich, I barely had money to eat, I would not have thought about investment during college days
    Nov 11, 2018 3
    • Apple dododragon
      OP
      Working on OPT
      Nov 11, 2018
    • Amazon salman
      Got it,
      1. Vanguard Mutual funds - put it on auto investment
      2. Check Barclays Online Savings - 2% interest account
      3. Open Fix Deposit account in different country - some countries give 5-6% yearly returns
      Nov 11, 2018
    • Apple dododragon
      OP
      1. Barclays Online Savings is only for residents.

      2. Which country? Doesn't the currency depreciate wrt USD?
      Nov 11, 2018
  • Cisco QltK44
    are you sure a person on f1 opt is not allowed to open online savings account like discover ? I have been doing that for sometime now.
    Nov 11, 2018 1
    • Apple dododragon
      OP
      Yes I'm pretty sure. Visited a financial advisor.
      Nov 11, 2018
  • F5 Networks / Eng 1u2ir8v3f7
    How are you able to invest in stocks and not have a high yield account?
    Nov 11, 2018 7
    • Apple dododragon
      OP
      Which back/union is it? Let me read the terms
      Nov 11, 2018
    • F5 Networks / Eng 1u2ir8v3f7
      Capital One. Money Market 360.
      Nov 11, 2018
    • Apple dododragon
      OP
      Yes Money Market is a US Person only account. If you are on F1, they will send you a w9 form next year and then you are in deep trouble.
      Nov 11, 2018
    • F5 Networks / Eng 1u2ir8v3f7
      So is it better to close the account now? Any idea what can be done now?
      Nov 11, 2018
    • Apple dododragon
      OP
      No idea
      Nov 12, 2018
  • First Tech Credit Union / Consultant
    TT425

    First Tech Credit Union Consultant

    PRE
    First Tech Federal Credit Union
    BIO
    Mortgage Consultant at First Tech Credit Union Seattle Market
    TT425more
    If you are on F1 OPT, I can help you with # 1, 2, and 3. Plus more. PM me for my contact info.
    Nov 12, 2018 2
    • Apple dododragon
      OP
      Illegally?
      Nov 14, 2018
    • First Tech Credit Union / Consultant
      TT425

      First Tech Credit Union Consultant

      PRE
      First Tech Federal Credit Union
      BIO
      Mortgage Consultant at First Tech Credit Union Seattle Market
      TT425more
      We are the 6 largest Credit Union by assets, and majority of our clients works for big and small tech companies in the US, so we understand how L1, F1, TN and H1 visas works. All legit and FDIC approved.
      Nov 14, 2018
  • Proofpoint / Eng foodtruckj
    Did you check out Goldman Marcus?
    Nov 11, 2018 1
    • Apple dododragon
      OP
      Yes. Not eligible for non residents.
      Nov 12, 2018
  • Tesla Alamban
    @dododragon, just wanted to check if you found any online savings account that accepted non resident aliens. I am in the same boat
    Feb 4 0
  • Apple Uhwr16
    Same prob !
    Nov 11, 2018 0