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Thread: Thinking about cashing out my IRA, 401k, savings and Crypto

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08-20-2024, 03:23 PM
#1

Thinking about cashing out my IRA, 401k, savings and Crypto

Crashing out at work then moving to Poland. Sell everything I have too.

Don't see any cons tbh
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08-20-2024, 03:39 PM
#2
Sounds like a slam dunk idea
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08-20-2024, 03:43 PM
#3
How do you stay? Work visa?
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08-20-2024, 03:46 PM
#4
Originally Posted By Ayz33⏩
How do you stay? Work visa?
To start at least
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08-20-2024, 03:51 PM
#5
Do you have family there? I might do the same when I retire, but Italy instead. I'd only do it if my parents would no longer be around, since they live in the states.
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08-20-2024, 03:53 PM
#6
Originally Posted By MustardTiger17⏩
Crashing out at work then moving to Poland. Sell everything I have too.

Don't see any cons tbh
Poland, Hungary, or Japan are all solid choices.

I have a goal for myself to do the same by 2028, and either transfer my business over or start fresh.

Good luck dude.

Leave America and don't look back. Its already 3rd world.
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08-20-2024, 03:59 PM
#7
Originally Posted By EDcellent⏩
Do you have family there? I might do the same when I retire, but Italy instead. I'd only do it if my parents would no longer be around, since they live in the states.
No, but I have lots of family in the Czech Republic. Poland is more traditional than Czechia. I fit in better there
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08-20-2024, 04:01 PM
#8
OP I happen to be a highly regarded consultant in just these sorts of matters. If you'd like to paypal me $200 we can discuss your plans in depth.
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08-20-2024, 04:01 PM
#9
^ok just sent you 200 buck PayPal

Originally Posted By r0gueking⏩
Poland, Hungary, or Japan are all solid choices.

I have a goal for myself to do the same by 2028, and either transfer my business over or start fresh.

Good luck dude.

Leave America and don't look back. Its already 3rd world.
Thanks bro you too. Scary similar stats to you btw. 33 and 5'10 etc
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08-20-2024, 04:14 PM
#10
Originally Posted By MustardTiger17⏩
Thanks bro you too. Scary similar stats to you btw. 33 and 5'10 etc


Thanks man.

Haha. Warrior statline. I just turned 34 last week. Havent updated my sig.

You're making the right choice though. Srs.
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08-20-2024, 05:02 PM
#11
Originally Posted By MustardTiger17⏩
No, but I have lots of family in the Czech Republic. Poland is more traditional than Czechia. I fit in better there
Based. Good luck to whatever you do.
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08-20-2024, 05:20 PM
#12
Max out your credit cards and flee
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08-20-2024, 05:23 PM
#13
Inb4 OP’s house is on the frontlines of ww3
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08-20-2024, 05:29 PM
#14
They talk funny in Poland
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08-20-2024, 05:44 PM
#15
you don't need to cash out and make the move. Actually having assets in the states will probably help you with visa's (digital nomad). Check this **** out thoroughly before you make costly decisions
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08-20-2024, 05:49 PM
#16
A buddy I played soccer with in college did this. Stayed 2 more years after graduating, got married, then moved to poland. Seeing him update his stories every day bring immense happiness for him, but also anger that he lives in such paradise while I'm here.

He is straight up polish though and has family back there so obviously the transition was easier. Literally lives right by a mountain.
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08-20-2024, 05:52 PM
#17
Originally Posted By DeadlyStriker⏩
A buddy I played soccer with in college did this. Stayed 2 more years after graduating, got married, then moved to poland. Seeing him update his stories every day bring immense happiness for him, but also anger that he lives in such paradise while I'm here.

He is straight up polish though and has family back there so obviously the transition was easier. Literally lives right by a mountain.
I've got a lot of cousins in Czech Republic so I'd have some support.
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08-20-2024, 05:52 PM
#18
Don't do it all at once.

Income tax is progressive, if you do it all once, you'll pay more in the higher brackets.

Spread it out over as many years as you can so that it gets spread into lower brackets.

As another FYI, the Roth can be converted into a regular 401K, when you do that is when the tax hit on it triggers which is important for timing which year to pay it.

Originally Posted By mr.left hook⏩
Max out your credit cards and flee
Also this.
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08-20-2024, 05:53 PM
#19
I've always wanted to start over somewhere else too, but I prefer somewhere nice and warm all year round. I'm thinking of ****ing off to Thailand sometime in the future.
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08-20-2024, 05:57 PM
#20
Originally Posted By mr.left hook⏩
Max out your credit cards and flee
change your w4 also and dont pay taxes before you leave
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08-20-2024, 05:59 PM
#21
Wont let me quote others right now.

Responding to monsteroultra-

He wouldnt need to pay any taxes on anything if he cashes out and moves to Poland though. Whats the IRS gonna do to him in Poland?
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08-20-2024, 06:07 PM
#22
i'm working on obtaining my jus sanguinis to Italy and may do the same
*O
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08-20-2024, 06:09 PM
#23
do you have a plan
5 years?
or een 10?
can you work

can you spell their names

wejorcizkeufpk?

are you on the ass with
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08-20-2024, 06:16 PM
#24
Originally Posted By Kiop⏩
do you have a plan
5 years?
or een 10?
can you work

can you spell their names

wejorcizkeufpk?

are you on the ass with
My plan is to first learn the language.

Then get a Czech passport
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08-20-2024, 09:51 PM
#25
Originally Posted By r0gueking⏩
Wont let me quote others right now.

Responding to monsteroultra-

He wouldnt need to pay any taxes on anything if he cashes out and moves to Poland though. Whats the IRS gonna do to him in Poland?
I'm not sure if there are any blockers regarding cashing out but if there aren't, that could be a move too.

That said, for all it's faults, keeping American citizenship in good standing still has 1 perk in that the US government will try to save you if you get into legal trouble in a foreign country. Happens all the time where some American does some dumb chit and is facing massive prison time but the US government puts pressure to get them released.
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08-20-2024, 09:52 PM
#26
yeah bro just move right next to russia with ww3 around the corner.
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