Returning to India in the next few months. What to do with 401k
I have around 300k in 401k.
Returning to India in next 4-5 months. Can stretch to max Jan 2019.
I have below questions. Can anyone please take some time and respond to the best of their knowledge? Thank you for your time :)
1. What to do with 401k?
Option 1: take tax hit along with penalty and take out everything and invest the money in india in stocks or whatever. I will take out ~100k each year to get the least tax hit and avoid paying taxes in India
Option 2: keep it here and let it grow forever and withdraw only after I am 59 and half. I am 31 right now.
2. I want to go with option 2 but I am not sure how risky it is to keep money in US and being citizen of India living in India. Will I lose it all? Will they be safe forever?
3. Right now everything is invested in s&p provided by fidelity inside 401k. Do I need to convert it into ira once i quit or can I keep it in 401k even after I quit microsoft?