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Fun-Boot-7187 OP t1_j2ewtsc wrote

Reply to comment by Wholenewyounow in Am I doing something wrong? by Fun-Boot-7187

You cannot work legally on a tourist visa. I’m on F1 OPT right now

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Wholenewyounow t1_j2eyh2m wrote

Well that’s a long process. And if doesn’t work out you will need to go back. But again, if not certain, why you contributing to 401 and fsa? If you withdraw money early you pay taxes and penalty. Fsa use it or lose it. Do you use it?

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Fun-Boot-7187 OP t1_j2eyu8g wrote

I don’t use it, and quite frankly I’m so new here I don’t even know if I can forgo it. Any suggestions are welcomed. I may reduce my 401k to $150 per pay check as opposed to $300 rn

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leodoggo t1_j2f0jb4 wrote

How much time do you have left on your visa? Does your employer provide any match to your 401k?

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Fun-Boot-7187 OP t1_j2f98h1 wrote

I have 3 attempts left on my work visa (so 3 years). If selected I have 6 years on my work visa My employer matches 5%

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WatercressSubject717 t1_j2ffypz wrote

You can still contribute to your 401K while you’re on OPT or H1-B. Not sure why people are giving you grief. If you’re not selected and need to leave you can still wait till 59 or so to withdraw it or do it immediately and receive the penalty. There’s no harm to contributing to 401k even if you don’t know your long term plan.

I can’t address your original question though. I’m not an expert.

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