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403(b) retirement plan

403(b) retirement plan

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Old Aug 17th 2018, 11:22 pm
  #16  
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Default Re: 403(b) retirement plan

The contribution limit on a Roth is effectively higher. It might be worthwhile if you get to a situation where you're hitting contribution limits and still want to save more.
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Old Aug 17th 2018, 11:23 pm
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Default Re: 403(b) retirement plan

Originally Posted by Maste View Post
I can either take the more expensive, low deductible one and have no option for a HSA due to the deductible being just under the limit. Or I can pay the cheaper health insurance (1/3 of the price of the low deductible plan) and open a HSA if I so wish. I have no health conditions or issues, I am only in my 20's and there are no genetic illnesses I may need to watch out for. My only 'health' issue is my hearing loss but that'll all come out of pocket as insurance doesn't cover that. Is it probably worth taking the cheaper health insurance and opening the HSA, and invest the maximum amount I can?
Almost certainly yes.
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Old Aug 18th 2018, 12:38 am
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Default Re: 403(b) retirement plan

Originally Posted by LonSea View Post


thanks Rene, but surely with the crazy 4-8 month wait for the EAD it’s a bit off to apply and interview for jobs until you have it in hand? Our solicitors told me that I had to wait until I had the card physically in hand before applying/interviewing .
Not off at all. As Rene explained, well within the laws and rights. I just wouldn't have, and couldn't have, started until I got my EAD. But the start date was this week (Which I've started my job and I love it!), and with the time frame I figured I'd get my EAD round about mid-end July, which I did! I would have expedited on grounds of financial loss as it's a unique job role that I'd have struggled to find elsewhere, plus my wife is a PhD student on a small stipend!

Originally Posted by tom169 View Post
The contribution limit on a Roth is effectively higher. It might be worthwhile if you get to a situation where you're hitting contribution limits and still want to save more.
Thanks for that information!
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Old Aug 18th 2018, 6:10 pm
  #19  
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Default Re: 403(b) retirement plan

Be glad you are not my children or grandchildren

If any of them asked about their anticipated inheritance, I would be sure they were left 1000 and the rest would go elsewhere. I would enjoy spending as much as I could before I died.
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Old Aug 18th 2018, 7:27 pm
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Default Re: 403(b) retirement plan

Originally Posted by Rete View Post
Be glad you are not my children or grandchildren

If any of them asked about their anticipated inheritance, I would be sure they were left 1000 and the rest would go elsewhere. I would enjoy spending as much as I could before I died.
I think you misunderstood what I meant; Neither of us have ever asked about inheritance, and wouldn't dream of it! Both of our grandparents have made us individually aware at some point in our lives about inheritance to make us aware and to prepare us (I don't know when or what about my wife's, and she doesn't know when or what about mine either). We mentioned to my in-laws this when we were discussing roth or traditional as they said it depends on what tax bracket you expect to be in when you're retired, and we both then mentioned what our grandparents had told us and THEN they suggested roth! Apologies if how I worded it caused confusion (I was trying to be brief); but we have never asked, expected, or wanted inheritance, and to be honest any we do get will mostly go to our future children's college funds etc anyway.
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Old Aug 19th 2018, 12:13 am
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Default Re: 403(b) retirement plan

Originally Posted by LonSea View Post


thanks Rene, but surely with the crazy 4-8 month wait for the EAD it’s a bit off to apply and interview for jobs until you have it in hand? Our solicitors told me that I had to wait until I had the card physically in hand before applying/interviewing .
You certainly don't have to wait until you have your EAD in hand. You just can't work until you have it. Yes, it won't always work out the way it did for Maste, but it just might. There is nothing off in terms of immigration, it just might be off for the employer, who like in Maste's case, did not initially hire him because he didn't have it and they were not willing to wait for him to get it at that time.
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Old Aug 19th 2018, 12:52 am
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Default Re: 403(b) retirement plan

I’m certainly not an expert, but I don’t believe that your tax situation will change significantly through inheritance, unless some aspect of that inheritance continues to produce income after the transfer.
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Old Aug 19th 2018, 11:32 am
  #23  
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Default Re: 403(b) retirement plan

Originally Posted by fbf2006 View Post
You certainly don't have to wait until you have your EAD in hand. You just can't work until you have it. Yes, it won't always work out the way it did for Maste, but it just might. There is nothing off in terms of immigration, it just might be off for the employer, who like in Maste's case, did not initially hire him because he didn't have it and they were not willing to wait for him to get it at that time.
Exactly this - I was up front and honest about it. They came back a month or so later asking if I had it yet as they still wanted to hire - so it worked out for me!
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Old Aug 20th 2018, 12:06 pm
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Default Re: 403(b) retirement plan

Originally Posted by Maste View Post
Not off at all. As Rene explained, well within the laws and rights. I just wouldn't have, and couldn't have, started until I got my EAD. But the start date was this week (Which I've started my job and I love it!), and with the time frame I figured I'd get my EAD round about mid-end July, which I did! I would have expedited on grounds of financial loss as it's a unique job role that I'd have struggled to find elsewhere, plus my wife is a PhD student on a small stipend!
Maste apologies for implying you had done something morally untowards, I was feeling very frustrated on Friday as I've seen two great jobs neither of which I can apply for as I'm only 2 months into my EAD wait. I had hoped that other posters would say it was fine to apply and then expedite the EAD, I hadn't understood your situation.

Last edited by Noorah101; Aug 20th 2018 at 3:59 pm. Reason: Fixed quotes
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Old Aug 20th 2018, 11:13 pm
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Default Re: 403(b) retirement plan

Originally Posted by LonSea View Post
Maste apologies for implying you had done something morally untowards, I was feeling very frustrated on Friday as I've seen two great jobs neither of which I can apply for as I'm only 2 months into my EAD wait. I had hoped that other posters would say it was fine to apply and then expedite the EAD, I hadn't understood your situation.
Why don't you just apply for the jobs? Who knows how long the recruiting process will take or how long it'll take for you to get your EAD? What's the harm in applying exactly?
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Old Aug 21st 2018, 3:42 am
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Default Re: 403(b) retirement plan

Originally Posted by LonSea View Post
Maste apologies for implying you had done something morally untowards, I was feeling very frustrated on Friday as I've seen two great jobs neither of which I can apply for as I'm only 2 months into my EAD wait. I had hoped that other posters would say it was fine to apply and then expedite the EAD, I hadn't understood your situation.
Apply. If they REALLY want you, they'll wait a few weeks for the expediting process. What's the worst outcome? A no, that's it!
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Old Aug 21st 2018, 4:07 pm
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Default Re: 403(b) retirement plan

The 'just apply' goes against what our immigration lawyers told me to do. They said, that if I applied to anything without the EAD to hand, it would look to USCIS like I was trying to breach my visa and they would look into suspending mine and my husbands visas and considering we are here because of his work, it seemed like a risk too far. I'm glad the expedite route has worked out for some on this forum.
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Old Aug 21st 2018, 4:17 pm
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Default Re: 403(b) retirement plan

Originally Posted by LonSea View Post
The 'just apply' goes against what our immigration lawyers told me to do. They said, that if I applied to anything without the EAD to hand, it would look to USCIS like I was trying to breach my visa and they would look into suspending mine and my husbands visas and considering we are here because of his work, it seemed like a risk too far. I'm glad the expedite route has worked out for some on this forum.
Interesting! Never heard of this. Why does USCIS expedite EADs for some individuals, if they should not have applied for jobs beforehand then? How exactly would USCIS know one applies for a job anyway?
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Old Aug 21st 2018, 5:59 pm
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Default Re: 403(b) retirement plan

Originally Posted by fbf2006 View Post
Interesting! Never heard of this. Why does USCIS expedite EADs for some individuals, if they should not have applied for jobs beforehand then? How exactly would USCIS know one applies for a job anyway?
I’d never heard of anyone having their EAD expedited outside of this forum. Our lawyers put a lot of fear in us about “breaching” our visas or even “looking like we might” break the visas, eg I was told I can only volunteer in some types of roles and that other types of volunteers eg more pro bono stuff would appear bad to USCIS and so I should avoid it. They said if I could avoid any volunteering that would be best. They were all about the scary consequences.
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Old Aug 21st 2018, 6:19 pm
  #30  
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The volunteering issue is true. You don't want to volunteer in a position that someone else could be paid for. So it makes sense to just steer clear of volunteering.
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