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Best way to invest money for an year if I will leaving the country?

Personal Finance & Money Asked on March 16, 2021

My US visa expires next year and I have about 50k in savings that I want to invest for a year. I like Marcus by Goldmansachs plan. They seem to offer 3.1% on 5-year deposit. But how do I withdraw the money from the plan if I am no longer in US? I might not even have a bank account in US then.

PS: the 1 year plan of Marcus offers 2.75%. After taxes I am assuming it will be 1.92%(30% tax), which is less than the inflation rate in US(https://tradingeconomics.com/united-states/inflation-cpi) 2.25%.

With the 5 year plan, I am a tad bit closer at beating inflation at 2.17% after taxes.

One Answer

Most countries require residency to hold a financial account. Otherwise the country is an offshore country.

A non-resident might hold a U.S. account as a U.S. state-organized LLC company that is IRS taxed as a C-corporation.

Answered by S Spring on March 16, 2021

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