Financial planning for somewhere...?
January 14, 2014 6:40 AM Subscribe
I graduated college last year. I know I should be at least thinking about saving and 401ks and things like that but I moved countries, started grad school and I don't know where I'll be living in three years let alone thirty. How do I do financial planning?
posted by raeka to Work & Money (8 answers total) 8 users marked this as a favorite
Like I said, I just started graduate school this fall. I moved from the US to Canada (I'm a dual citizen). It's in archaeology and it's graduate school, so I'm not making a ton of money but I want to be thinking about saving for the future. However, it's a Master's program and there's a fairly good chance I'll be moving to a third country in a year and a half for a PhD. I don't know where I want to live in the long-term, but I probably won't have a huge amount of choice with it if I stay in academia and at the moment, I'd like to live outside of North America.
Right now, I have a Canadian chequing account that I use for basically everything and a US savings/chequing account that I barely use because it's hard to transfer money between the countries.
I know right now I should be trying to set up some sort of emergency, just-in-case fund with at least six months worth of expenses. Is it worth setting up a Canadian savings account when I might not be in Canada in two years?
If I was in the US, I'd be looking at 401k and Roth IRA type accounts, I think? Is there a Canadian equivalent? If I end up living in a different country, how hard is it to use these accounts?
General advice and things to think about?