What Taylor Morrison Home Employees Need to Consider Before Making the Leap to Retire Abroad

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For example, Taylor Morrison Home 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 Taylor Morrison Home 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 Taylor Morrison Home 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 Taylor Morrison Home employees.

Simply for political, economic, and social reasons, many Taylor Morrison Home 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 Taylor Morrison Home.

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 Taylor Morrison Home 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, Taylor Morrison Home 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. 'Taylor Morrison Home 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 is the 401(k) plan offered by Taylor Morrison Home?

   The 401(k) plan at Taylor Morrison Home is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

   How can I enroll in the 401(k) plan at Taylor Morrison Home?

   Employees can enroll in the 401(k) plan at Taylor Morrison Home by completing the enrollment process through the company’s benefits portal or by contacting the HR department for assistance.

   What is the employer match for the 401(k) plan at Taylor Morrison Home?

   Taylor Morrison Home offers a competitive employer match for the 401(k) plan, which typically matches a percentage of employee contributions up to a certain limit.

   Are there any eligibility requirements to participate in Taylor Morrison Home's 401(k) plan?

   Yes, employees must meet specific eligibility criteria, such as being a full-time employee and completing a certain period of service, to participate in Taylor Morrison Home's 401(k) plan.

   What types of investment options are available in the Taylor Morrison Home 401(k) plan?

   The 401(k) plan at Taylor Morrison Home offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees grow their retirement savings.

   Can I take a loan from my 401(k) plan at Taylor Morrison Home?

   Yes, Taylor Morrison Home allows employees to take loans from their 401(k) plan, subject to specific terms and conditions outlined in the plan documents.

   How often can I change my contribution amount to the 401(k) plan at Taylor Morrison Home?

   Employees at Taylor Morrison Home can change their contribution amount to the 401(k) plan at any time, typically through the benefits portal or by contacting HR.

   What happens to my 401(k) if I leave Taylor Morrison Home?

   If you leave Taylor Morrison Home, you have several options for your 401(k), including rolling it over to an IRA or a new employer’s plan, cashing it out, or leaving it with Taylor Morrison Home.

   Is there a vesting schedule for the employer match in Taylor Morrison Home's 401(k) plan?

   Yes, Taylor Morrison Home has a vesting schedule for the employer match, which means that employees must work for a certain number of years before they fully own the matched funds.

   Can I contribute to my 401(k) plan at Taylor Morrison Home if I am also contributing to an IRA?

   Yes, employees can contribute to both a 401(k) plan at Taylor Morrison Home and an IRA, as long as they adhere to the contribution limits set by the IRS.