401k's, roth IRA's for Canadains living in US.

[kgutah]

I am looking for some information on how to save for my retirement. I am not sure which country I am going to finish out my working days in, and I am not sure how exactly I can and should save for it prudently.

So:

Any financial planners out there? All my retirement is within the american tax structures and I am not sure this is a good idea if I plan on moving back to Canada to work where I have no retirement savings).

thks
kimthecanuk

[Reba]

check Canadian on-line bookstores for a book called "The Border Guide" its help for Canadians in the US and what to do about/with your money.

Do you have US citizenship, or just a green card? If you get citizenship, and decide to go back to Canada to live permanently, you still have to file US taxes every year. As a privlege of being a US citizen If you're just a PR tho, I don't think you have to, but I'm not sure on that.

That book will help tho.

[Reba]

I also just yesterday learned that Canada and the US have a social security treaty, so whichever country you make contributions in if you move you still get benefits at retirement.

If you have made even one contribution to CPP, you may be eligible for those benefits at retirement. OAS however you must contribute to for at least 20 years, and can only do that if you are working and living in Canada.

I know that Social Security and CPP generally aren't a lot of money once you retire, but if you've paid into both, you still get payments from both, so that's something.

[kgutah]

thanks for your info.
What field do you work in/what do you read/who do you know to get all this info?

Kim

[Reba]

I just found the info on the Revenue Canada and Human Resources Canada websites. All you need to find out this info is a computer with web access, or a telephone to call them and ask.

I'm currently unemployed.