XML CEO Brett Bernstein recently spoke with Kiplinger regarding a common retiree question regarding retiring overseas and 401(k) contributions. The question, "If I have enough saved in my 401(k) already to account for my retirement costs and I am looking to retiree overseas in a few years anyway should I keep contributing to my 401(k?." The answer isn't always going to be the same for every situation but generally, Brett advises against stopping 401(k) contributions solely based on age or account size, even with more than enough money saved to cover your lifestyle. There is no such thing as having too much in a 401(k). Deciding to stop, increase, or make changes to your retirement accounts should be a part of your holistic financial plan. Brett also notes that retiring abroad brings added complexities—like taxes and currency fluctuations—that require careful planning. Even if you have have a strong financial position, it’s smart to keep contributing to retirement savings to prepare for life’s uncertainties while still enjoying life in the present.
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