How much American dollars is 1.3 million peso?
1.3 million Argentine peso = 240575.90 US dollars 1.3 million Colombian peso = 673.97 US dollars 1.3 million Chilean peso = 2557.54 US dollars 1.3 million Dominican peso = 30989.27 US dollars 1.3 million Mexican peso = 99307.13 US dollars 1.3 million Philippine peso = 29960.84 US dollars 1.3 million Uruguayan peso = 62635.56 US dollars
Arizona Tax Withholding Percentage Election Options?
I'm originally from Nebraska, but just accepted a job in Arizona. My employer sent me a packet with all of my tax paperwork and such to fill out, and the A-4 was one such piece of paperwork. As I'm not from a state that requires me to compute this on my own and have no idea what percentage I should choose (because I do not have a previous Arizona tax return to compare with), I'm absolutely 100% confused as to which percentage I should choose. I will be making $35,000/year, am single, and will be claiming 0 on my I-9. Any help would be greatly appreciated! Thanks!
Can non-U.S. citizens open Roth IRA investment accounts?
Yes you can and you can also open other investment accounts also.If anyone who is Non USA citizen but having valid visa and earnings from USA. At very first his/her account wouldn’t open if they don’t have SSN and income from USA.You can start with a free brokerage (detailed in the answer Robinhood) and then start $100–200 each month whichever you like in Vanguard S&P500 ETF every month (chose this because consistent return of 9% over the years). I would let say use $100 for this and another $100 by betterment each month (details in the below answer). Why do I use these two because they are easy, cheap and good services (SIPC covered). Here is my detailed answer.San Arav's answer to What are some good video channels on YouTube for beginners wanting to learn more about investing?
How to calculate 15% off on 37 dollars?
Sometimes when you are at the store and you want to know what the discount is you can usually calculate it without a calculator like this: 37 x 15 is too hard to multiple in your head. So use a number close to 37 that is easy. 40 dollars is the closest number. We know that 4 * 15 = 60. We have three decimal places to account for (1 to the right and 2 to the left) so it is 6 dollars. 37-6=31 Because we used a number bigger then 37 to calculate the discount we have to add some back. We used 3 dollars too much so we have to add back a little. So multiple 3*15=45 and account for two decimal places and you arrive at 0.45. So the total is 31+0 .45 = $31.45 With a little practice you will so be able to amaze your friends.
For Indians in the US, is investing or saving in India better than in the US, because with fluctuating interest rates, inflation, and conversion rates, I am very confused?
Hi, A little bit info about myself. I am a self learned investor and have a decent amount invested in the US and Indian stock market and various FDs too.The advice that you will hear from most financial planners or finance blogs is to diversify your money into bonds and stocks and into multiple sectors. While that is absolutely correct, we Indians have a different situation. We are used to hearing that LIC is a good investment (Its not), FDs are a good investment, etc from our parents/grand parents. My simple advice to you is invest your money in the US and India both.In the US, do it in the following order for you and your spouseContribute to your company's 401K (even if you don’t plan to retire in the US) at least to the amount your company matches. This will help you lower your taxable income. Most companies have lousy mutual fund options, but if your company has low cost funds or have a brokerage account linked, think of maxing it out.Open a Roth IRA, which is an after tax IRA account where your future gains are tax free. The current limit is $5500. Roth IRA account is a more flexible account and you can buy any stock that you want.If you have more than $5500 to invest, invest in stocks or a stock mutual fund with a 3–10 year horizon. I have recommended Vanguard Funds/ETFs to everyone who asked me where to start.Buy at least one ounce of Gold (preferably Canadian Maple Leaf) every six months. Gold helps you diversify furtherIn India, do it in the following orderOpen a NRI account and open a FD at least once a year and make the interest re invested into principal at the end of term, choose the term which gives you the most returnOpen a stock brokerage account the next time you go to India and link your NRI account and start buying small quantities of reputable companies like L&T.Please note that if you invest in India, you have to file taxes in India and report it in the U.S, its not very complicated, your CPA in the US and CA in India can help you do thatThere is no one who knows when rupee will be stronger, when markets are going to crash, when the markets are going to go up, etc. You will see a lot of financial news encouraging or discouraging you to invest, try to tune it out and keep investing for the long term.Hope this helps
I am 62 years old with $300,000 in 401K. Should I pay the tax and transfer the funds to a Roth IRA or leave in the safest 401K option?
This is a unique questions because there are a lot of variables here.The first thing is you probably don’t want to transfer the entire amount into a a Roth IRA. I think someone else mentioned that you first need to roll the money over to a traditional and then transfer it to a Roth…that is correct. However, you are going to be taxed on the entire $300,000!That’s not good! You would probably pay north of $70k in federal taxes because your income would be so high. (Disclaimer: I’m not a tax professional, so please don’t take this as advice). That leaves you with $230,000 left.At your age, you want to maximize your income and this would not be the way to achieve that goal.Now the tricky part comes into play because I’m not sure of your goals. For example:How much longer are you going to work?How much income will you need?Do you have a pension.Unfortunately, I cannot really give any good suggestions regarding investments b/c I don’t know your situation. If you have 10+ years to retirement, I would consider index funds of a 60/40 mix. If you are retiring tomorrow, I would have at least 2 years of income cash and the rest in a 40/60 mix of index funds.To learn a little more about investments, I wrote this article you can check out 4 Simple Tips to Invest Better than 90% of Investors.Good luck with this:)
Should I max out my 401k while I am on an H1-B?
Yes, maxing out your 401k is a no brainer. Many people mistakenly assume that you dont have access to your 401k till 59.5 years. That is simply not true. There are multiple ways you can access your 401k and you can actually get away with early withdrawal without paying any penalty and very little taxes.Consider the case of a hypothetical h1b visa holder named Raj that works in California’s silicon valley for a company that pays well.Raj’s federal marginal tax rate is 25% and state marginal tax rate is 10%. So the 18k that he contributes to his 401k thus saves him 35% as soon as he contributes it. That is the best gift uncle sam gives him.He repeats this for 10 years. So he now has 180k in his 401k and any compounded gains on top of it. Hypothetically lets assume after 10 years, his 401k balance is 250k.Raj is now 35 years old. He decides to go back to India. He now rolls over his 401k to IRA. There is no penalty or tax for this.He now has 2 large choice.He could leave this money in IRA and return to India. This money could potentially grow to 2 million dollars when Raj turns 59 if the fund grows at 9% a year. He could then start withdrawing but paying lot of taxes depending on how much he withdraws a year.At 35, he could convert around 30k every year to Roth IRA. He doesn’t pay any penalty for this. But he is taxed for income of 30k which is very very less. After 5 years, he can now withdraw this money tax free and penalty free. So after 5 years, every year he withdraws 30k till he empties his 401k. This strategy is called “roth ladder”.If your employer gives an option of post tax 401k, and you have excess money, you should contribute beyond the 18k too. You can contribute upto 53k a year. With this, you can do in place roth conversions every year and earn gains tax free.Edit: This is a highly summarized answer without a lot of ifs and buts. Your country of origin and its rules does matter on how it taxes your withdrawals. In case of India, please do read about RNOR status. It is for the reader to read more around the topic for nitty gritties of the corner cases.
When is it OK to not plan for retirement?
When you realize that all reasonable plans still end in poverty, pain, and misery. When you realize you can't go back in time and not get married and not have a family. Or when your family simply will not get on board with any plans you lay out. If it comes down to being miserable now verses miserable later, choose later. If the sacrifices you plan are severe, it is not worth taking the chance that you might die before you reap the rewards. But if you can tweak your lifestyle now in a smart way that does't cause major risk or grief, by all means do it.