EP 9: Navigating the Alphabet: Work Visas and Investing in the U.S.
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Foreign nationals on work visas are very keen to take advantage of the U.S. Tax code when it comes to investing and saving for retirement and other financial needs.
They are looking to save for retirement, their kid's college funding and other financial goals.
Like American citizens, they would like to take advantage of the tax-advantaged accounts like 401k plans, 403b plans, Roth IRAs, 529 college savings plans as well as health savings accounts.
Unfortunately, due to the temporary nature of the work visas (they are all nonimmigrant visas), they face unique challenges that make it very difficult to accomplish these goals.
In this episode, your co-hosts Jane Mepham, CFP, and Manasa Nadig, EA, discuss the challenges that range from brokerages that won't open accounts to the lost benefits of some tax-advantaged accounts when moving overseas due to tax-treaties amongst other issues.
In the second half, they detail solutions that will allow you to invest in the U.S. on a work visa despite the fact that you may not know where you are going to be when you retire.
Jane and Manasa, started out on work visas, so they have lived out the exact challenges they discuss in this episode.
If you are a foreign national on a work visa - this episode is for you.
The views and opinions are those of the speakers and should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
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