Dow drops 1,200 as US stock market leads a worldwide sell-off following Trump's tariff shock
Dow drops 1,200 as US stock market leads a worldwide sell-off following Trump's tariff shock
Financial markets around the world are reeling following President Donald Trump’s latest and most severe volley of tariffs, and the U.S. stock market may be taking the worst of it.
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I was considering trying to cash out my 401k and ira in the US (I bought my first house and I think that's one of the allowed cases), but hadn't worked out the details yet. Guess that's not happening right now. I no longer live in the US and will probably renounce citizenship once my parents go.
I looked at my other investments this morning based on this post and.... Lol. Granted, I only one a handful, but it still hurts. My stock that was worth only like 40 cents moved up 5+% so yay for that, I guess.
Yes and the same last month, and the month before.
Do some paper trading when he does this. See how much money you could make if you buy who he is fucking just to turn it around the week after.
To be fair, the market is roughly at where it was in September (pending further tanking). So, not a huge difference...yet.
Pretty much this. If you think "its going to get worse from here", then why would you hold stocks?
What happens to your 401k and IRA if you've moved abroad and renounce your citizenship? Will it ever be paid out?
Not an American so I honestly don't know.
That wouldn't effect legal agreements. if he's still the owner of the accounts the are still enforced, at least when there was a functioning system in place to enforce contracts with in the US legal and banking systems.
I don't know either. I imagine it just lives on. I can't put money in them now from Japan anyway (well, unless I want to pay some taxes in the US on top of what I pay here; no thanks). I can't use Japan's equivalent either since the US tax authorities will massacre you with paperwork and fines (PFICs). If social security still exists, I worked long enough in the US to get that and it doesn't matter for that if I renounce.
If social security still exists, I worked long enough in the US to get that and it doesn’t matter for that if I renounce.
Well, hope they won't change the rules around that if it does still exist by the time you retire. Though generally such things aren't done retroactively I believe. Once you've earned it, you've earned it. Even if rules change for future folks. At least in sane countries, but of course we're talking about the US...
These rules aren’t set by God. Earning it is pretty meaningless.
There is a totalization agreement with the japanese govt, so I could theoretically do something before renouncing, but I've never looked into it. I liked the idea of having both for diversity and safety