Folks on H1B, do you guys max out on your 401k? What if you get kicked out of the country due to Visa issues? Another question: What about HSA?
Yup i max out HSA too.
+1
But, what happens to HSA is if you move out of the country?
Max out the 401K. Even if you leave the country, this money will continue to grow. If you need to use it in the future, you can withdraw it, pay 10% penalty and a lower income tax since your overall income in the US then becomes much lower, resulting in a lower tax slab. Even better, use the Roth 401K if your employer offers it. This would allow penalty free withdrawal of your contributions if you need to.
Thanks so much for the detailed answer. And, wow, one can invest in Roth 401k even if you're on H1B?
You can, but the risk is if you retire in a foreign country, that country may not treat Roth 401k growth as tax free.
Software Engineering Career
Yesterday
2804
28 terrorist worshipping idiots just got themselves fired and I've never been prouder to work at Google.
Layoffs
Yesterday
11069
Google CFO confirms "large-scale" layoffs today (Apr 17)
Tech Industry
3h
914
Go woke, go broke: Google fires 28 employees involved in pro-Hamas protest
2024 Presidential Election
Yesterday
1636
If you vote for Biden this year, don't complain about layoffs
Tech Industry
Yesterday
654
Do I have the dream job?
Looks like the answer is maxing out without any doubt. Thanks everyone!