Good evening - first reddit post ever, please excuse errors and appreciate your time and help.
I am a US citizen (entire life), relatively knowledgeable about personal finance (both generally and specific to US financial vehicles...401(K)s, IRAs, Social Security, 529s, etc).
My fiancée's sister is marrying an Australian who we expect to emigrate to the US via the K-1 ("90 day fiancé") visa.
He does not have a profession or career in the typical sense, and will likely be a stay-at-home father (future SiL is pregnant) for the near term. I think he may have entrepreneurial goals in the long term, but don't know any specifics. He is in his 40s (a few years older than me) and I do not believe he has substantial savings / investments (less than $10K USD after the move is complete). But I believe he has worked at least intermittently over the years and based on that I believe he must have an Australian superannuation fund account or accounts.
I can share some recommendations for him going forward as a future US citizen, but I cannot find specifics on the best way (if any) to manage his "super" funds.
An IRA (Roth preferably but traditonal or combination fine also) rollover would presumably be ideal (to preserve the tax advantages). I can't confirm if this is viable much less how to do it, or what other options might be.
I am happy to help pay a financial services firm to manage it as a baby shower / early wedding gift if that would make sense (i.e. there is something that can be done that would grant them a financial benefit greater than the cost of services), but can't even find a yes / no answer there.
BLOB (bottom line on the bottom): any advice for relative of an AUS>US expat wanting to help manage the financial transition, esp re: "super," would be hugely appreciated.
I am a US citizen (entire life), relatively knowledgeable about personal finance (both generally and specific to US financial vehicles...401(K)s, IRAs, Social Security, 529s, etc).
My fiancée's sister is marrying an Australian who we expect to emigrate to the US via the K-1 ("90 day fiancé") visa.
He does not have a profession or career in the typical sense, and will likely be a stay-at-home father (future SiL is pregnant) for the near term. I think he may have entrepreneurial goals in the long term, but don't know any specifics. He is in his 40s (a few years older than me) and I do not believe he has substantial savings / investments (less than $10K USD after the move is complete). But I believe he has worked at least intermittently over the years and based on that I believe he must have an Australian superannuation fund account or accounts.
I can share some recommendations for him going forward as a future US citizen, but I cannot find specifics on the best way (if any) to manage his "super" funds.
An IRA (Roth preferably but traditonal or combination fine also) rollover would presumably be ideal (to preserve the tax advantages). I can't confirm if this is viable much less how to do it, or what other options might be.
I am happy to help pay a financial services firm to manage it as a baby shower / early wedding gift if that would make sense (i.e. there is something that can be done that would grant them a financial benefit greater than the cost of services), but can't even find a yes / no answer there.
BLOB (bottom line on the bottom): any advice for relative of an AUS>US expat wanting to help manage the financial transition, esp re: "super," would be hugely appreciated.