I'm working in US on TN, and would like to move back to Canada in a few years. I'm 34, my wife's 29.
What type of retirement savings account(s) should we open, knowing we may be moving back north? Traditional IRA? Roth IRA? Unregistered? My company does not have a 401k plan right now.
Retirement account for TN
Moderator: Mark T Serbinski CA CPA
Roth IRA can be kept after returning to canada and remains tax-free.
Another possibility is avoid any tax sheltered account, and merely invest in tax-managed funds that you cash just after returning to canada, thus paying no tax on gains incurred while in US.
Another possibility is avoid any tax sheltered account, and merely invest in tax-managed funds that you cash just after returning to canada, thus paying no tax on gains incurred while in US.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best