International relocation and 401K
I am moving fron New York to Dublin with the same employer and would appreciate some suggestions on what to do with my 401k. Can I withdraw it? What will be the penalty and taxes? I can ofcourse keep it untill I retire but since I am 26 , i do not want to keep that money in 401k for a really long time . If I decide to do so, is that a wise decision?
Don’t withdraw. Treat it as an asset you have overseas. If you ever come back to US, you can still use it to get a loan (I’m not sure if you can do that when not a resident of US).
Withdraw and spend it all in Ireland. YOLO
Live fast die young brotha
Forget about 401k. Think of it as a your self surprise you gift yourself at retirement
You are supposed to keep money in 401k for a really loooong time. Then only you will reap the magic of compounding.
You will be back to the US after you get over Dublin. The money will be here to greet you back, and it will have grown. Compounding is just beautiful
Why are you leaving NYC for Dublin?
He likes rainy summers
Do not withdraw it. That money is gold. Don’t touch it until you retire. Let it compound.