What UWM Holdings Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: UWM Holdings provides health, dental, and vision insurance to its employees, along with disability and life insurance. The company offers a 401(k) match, paid time off, and on-site amenities including a doctors office, fitness center, and coffee shops. Employees also benefit from adoption assistance, sabbaticals, and mortgage discounts. UWM Holdings Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average. Click here to learn more

For example, UWM Holdings 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 UWM Holdings 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 UWM Holdings 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 UWM Holdings employees.

Simply for political, economic, and social reasons, many UWM Holdings 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 UWM Holdings.

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 UWM Holdings 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, UWM Holdings 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. 'UWM Holdings 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 401k plan offered by UWM Holdings?

   The 401k plan at UWM Holdings 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 UWM Holdings 401k plan?

   Employees can enroll in the UWM Holdings 401k plan by completing the enrollment form available through the HR portal or by contacting the HR department for assistance.

   Does UWM Holdings offer a matching contribution for the 401k plan?

   Yes, UWM Holdings offers a matching contribution to the 401k plan, which helps employees maximize their retirement savings.

   What is the employee contribution limit for the UWM Holdings 401k plan?

   The employee contribution limit for the UWM Holdings 401k plan is set annually by the IRS, and employees should check the latest guidelines for the current limit.

   Can I change my contribution percentage to the UWM Holdings 401k plan?

   Yes, employees can change their contribution percentage to the UWM Holdings 401k plan at any time by submitting a request through the HR portal.

   What investment options are available in the UWM Holdings 401k plan?

   The UWM Holdings 401k plan offers a variety of investment options, including mutual funds and target-date funds, to suit different risk tolerances and investment strategies.

   When can I access my funds from the UWM Holdings 401k plan?

   Employees can access their funds from the UWM Holdings 401k plan upon reaching retirement age, or under certain circumstances such as hardship withdrawals or termination of employment.

   Is there a vesting schedule for the UWM Holdings 401k plan?

   Yes, UWM Holdings has a vesting schedule that determines how much of the employer's matching contributions employees are entitled to based on their years of service.

   What happens to my UWM Holdings 401k plan if I leave the company?

   If you leave UWM Holdings, you have several options for your 401k plan, including rolling it over to another retirement account, leaving it in the UWM Holdings plan, or cashing it out.

   Can I take a loan against my UWM Holdings 401k plan?

   Yes, UWM Holdings allows employees to take loans against their 401k plan, subject to certain terms and conditions outlined in the plan documents.