- quote -

If you work in the US, you have absolutely no choice. Social Security TAXES
WILL BE TAKEN OUT OF YOUR PAY whether you like it or not.

SS is a tax, not a retirement program.

The others have given you what options you would have. Just one clarification.
Mr. Weeks said you can put money onto both a regular IRA or a Roth IRA.

That is a true statement, but incomplete. You can but your total contributions
added together cannot exceed $3,000 in any one year.

Your contributions to a regular IRA may be deductible but that will depend on
whether or not you are an active participant in any Employer Qualifed Plan,
your marital status and your Adjusted Gross income.

Roth contributions are never deuctible.And any money put into a Roth grows tax
free even when you withdraw the money. But whether you can contribute to a Roth
depends on your marital status and income.

In article <ae3e884f.0406260559.6942d4cd[at]posting.google.com> ,
fr8train99 <fr8train99[at]yahoo.com> wrote:

- quote -

Your rate of return is independent of all the other questions that you
have asked. There is no reason that you couldn't put some of your
savings into index funds and get the benefits of the long term stock
market growth.

A 401K is only offered by employers. If your job doesn't have one,
then it is not an option.

IRA's might be an option. I have no clue how the international
stuff works. If you qualify, you can put money in both the Roth
IRA and traditional IRA. This will allow your money to grow tax
deferred or tax free.

Most likely, you need a good CPA who is well versed in foriegn
workers due to some very technical details on how the tax laws
work and whether or not you have paid US taxes on the money that
you have earned.

Finally, you might want to consider some place that is more tax
friendly to retire to. Lots of folks are retiring to northern
Mexico. It is a far cheaper place to live, many of the area
have all the comforts of the US (including WalMart and Home Depot),
and you are within easy driving distance of the US.

-john-

--
================================================== ==================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
================================================== ==================

In article <ae3e884f.0406260559.6942d4cd[at]posting.google.com> , fr8train99 wrote:
- quote -

It is not very difficult to earn social security if you sply live here
and work. Social security is not something that you can "put money in".

- quote -

401k plan is not something you can have by yourself, they are offered
by employees only. You can open an Individual Retirement Account
(IRA), where money grows tax free and is only taxed upon withdrawal.

i

I've been living and working out of the country for more than a decade
now. I've accumulated a decent amount of savings. I don't have 401k
plan nor I put any money in social security. Right now I'm 30 years
old and I'd like to plan to secure my future. I plan to go back home
to the US and retire when I'm 65.

Any advice? Should I start putting money in social security or should
I be looking for a good 401k plan? My savings is in the bank earning
3.5% annually.