What Rocket Companies Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Rocket Companies For employees of Rocket Companies, the primary provider of health insurance is the UnitedHealthcare (UHC) network. This collaboration allows Rocket employees access to a comprehensive range of health plan options that align with federal healthcare regulations and enhance overall employee wellness. Potential Healthcare Cost Increases in 2026 Looking ahead to 2026, healthcare costs are poised for significant increases, primarily driven by the anticipated expiration of expanded subsidies for Affordable Care Act (ACA) premiums, along with overarching medical inflation. It is projected that ACA premiums could rise dramatically, with some regions facing hikes of over 60%. As a result, more than 22 million enrollees could see their monthly premiums skyrocket by 75% or more, effectively pricing out many middle-income Americans from affordable coverage options. The combination of these factors creates a challenging landscape for consumers, necessitating proactive financial planning to mitigate the impact of these steep increases. Click here to learn more

For example, Rocket Companies employees planning on moving overseas need to have a clear plan of action to overcome the challenges of acquiring residency and citizenship in another country,' according to Brent Wolf from The Retirement Group at Wealth Enhancement Group.

Kevin Landis of The Retirement Group, a division of Wealth Enhancement Group, explains why detailed planning is crucial for Rocket Companies employees who intend to retire abroad. However,

In this article we will discuss:

1. The complexity of obtaining residency or citizenship abroad: Discussing the legal, financial, and cultural issues that are involved in moving overseas for Rocket Companies employees.

2. The necessity of professional advice and planning: Emphasizing the importance of thorough preparation and professional advice to ensure a smooth transition to retiring abroad.

3. Tax advantages and financial planning for retirees: Explaining the possible tax advantages that are available through international treaties and the strategic financial planning that needs to be done for the retirement savings of Rocket Companies employees.

Simply for political, economic, and social reasons, many Rocket Companies employees are looking to secure citizenship or residency in other countries if the United States is not as attractive as it once was. But, getting residency in another country and, perhaps, citizenship is not as simple as just buying a plane ticket and setting an itinerary.

This is because there are many processes that may take a few years to accomplish at times. The more people who are considering these options, the more difficult these choices become. It is therefore crucial to identify the legal, financial, and cultural implications that arise in order to ensure a smooth transition to a new home overseas before embarking on this journey.

Without a proper plan and some professional advice, it can be quite a challenge to switch gears and retire during your tenure at Rocket Companies.

The impact of potential tax advantages when retiring abroad will definitely affect your financial position. Many countries, including the United States, have tax treaties that prevent income from being taxed twice. For instance, pensioners are attracted to Portugal by the Non-Habitual Resident (NHR) regime that offers special tax concessions for up to 10 years.

You can enhance your retirement benefits by taking advantage of these perks and seeking the advice of a tax specialist. The IRS notes that because these treaties can be very different it is important to research and seek the advice of a professional (IRS, 2023). These advantages must be used by Rocket Companies employees to enhance their retirement.

Expatriating and retiring is a process of planning a long and beautiful road trip. Just as you would not travel without a map, a well-maintained car, and knowledge of your location, Rocket Companies employees who are retiring abroad need to plan carefully.

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Step by step, you will be guided on how to make your transition to your new home easier, from explaining cultural differences and tax benefits to helping you understand the legal and financial environment. Just as a road trip opens new views and experiences, retirement abroad presents a world of possibilities for a happy and comfortable retirement.

Sources:

1. The Warren Street Wealth Advisors Team. 'Rocket Companies and Large Company Employees.' Warren Street Wealth Advisors, 3 Feb. 2025, Accessed from warrenstreetwealth.com.

2. 'US Taxes for Americans Retiring Abroad in 2025.' MyExpatTaxes, 20 Nov. 2024, Accessed 3 Feb. 2025 from myexpattaxes.com.

3. Toms, Mary, CPA, MBA, MS. 'US Tax Implications of Retiring Abroad: What You Need to Know.' PBMares, 10 Dec. 2024, Accessed 3 Feb. 2025 from pbmares.com.

4. 'Financial Planning for US Expatriates.' The Expat Financial, Accessed 3 Feb. 2025 from expatfinancial.com.

5. 'Retiring Overseas: What You Need to Know About Your US Taxes and Financial Planning.' Expat CPA, Accessed 3 Feb. 2025 from expatcpa.com.

   What type of retirement plan does Rocket Companies offer to its employees?

   Rocket Companies offers a 401(k) retirement savings plan to its employees.

   Does Rocket Companies match employee contributions to the 401(k) plan?

   Yes, Rocket Companies provides a matching contribution to employee 401(k) contributions, helping employees save more for retirement.

   What is the eligibility requirement to participate in the Rocket Companies 401(k) plan?

   Employees of Rocket Companies are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

   Can employees of Rocket Companies choose how to invest their 401(k) contributions?

   Yes, employees at Rocket Companies can choose from a variety of investment options within the 401(k) plan to align with their retirement goals.

   What is the maximum contribution limit for the Rocket Companies 401(k) plan?

   The maximum contribution limit for the Rocket Companies 401(k) plan is in accordance with IRS guidelines, which are updated annually.

   Does Rocket Companies allow for catch-up contributions in its 401(k) plan?

   Yes, Rocket Companies allows employees aged 50 and older to make catch-up contributions to their 401(k) plans.

   How often can employees at Rocket Companies change their 401(k) contribution amounts?

   Employees at Rocket Companies can change their 401(k) contribution amounts at designated times throughout the year, typically during open enrollment or as specified by the plan.

   What happens to my 401(k) if I leave Rocket Companies?

   If you leave Rocket Companies, you have several options for your 401(k) savings, including rolling it over to another retirement account, leaving it in the Rocket Companies plan, or cashing it out.

   Are there any fees associated with the Rocket Companies 401(k) plan?

   Yes, like most 401(k) plans, the Rocket Companies 401(k) plan may have administrative fees and investment-related expenses, which are disclosed in the plan documents.

   Can employees take loans against their 401(k) at Rocket Companies?

   Yes, Rocket Companies allows employees to take loans against their 401(k) balance, subject to the terms and conditions of the plan.