Moving to US

last SG · 2008-08-04T00:50:02+00:00

Re: MoneyEven though your plans are to pay in cash for major purchases and not take out loans, you still have to prove your creditworthiness. You need to lea...

jetta SG

as for stuffs to bring...bras!! haha...will definitely stock up on some. good thing is i ain't exactly small size (size 14)...i've problems finding clothes of my size in singapore unless i go to places like M&S, dorothy perkins etc. (but they are freaking ex) so US sizes should suit me fine...i love shopping at the megamarts like target and the clothings are pretty affordable.

Join the club. I'm a 14 too and we are considered petite here. Yippee! There is no dearth of variety, styles, selection and price point. You'll love shopping here. Please stop spending your money on clothes in Singapore .

Those places in Sg you mentioned, they cost an arm, a leg and your first born. Whenever I visit, I never buy clothes at all. Just remember, the size 14 at Old Navy runs big, so when you shop there, bear this in mind. Save all your receipts in case you need an exchange or refund though.

can i check if you folks save/invest in US? what kind of options are available? my friends are all so envious that i can start an account with vanguard soon. is the propensity to save high when you work/live in the US considering the net income after taxes & cost of living?

Well, if you're a high wage earner, more so than us regular folks I guess. But this is America, the land of variety. You'll go crazy with all the stuff you can do if you have money. Find a credit union to bank with. They don't nickel and dime you like some banks can. (Bank of America comes to mind.)

Check with the AAA about membership? You won't regret it.

maurizio13 SG

hey folks, wow, so many replies since i last logged in =)

regarding taxes...so much info to digest..i don't even know where to start. i'm used to filing my own (as self-employed) and my spouse's (employee) taxes in SG but the US tax system seems much more complicated. really need to spend some time to figure it out.

as for driving...i was suggesting to my spouse that he could possibly teach me to drive and he rolled his eyes. he said he can guide me but i shld still go to the driving instructor for the basics. he had stayed and driven in US for awhile...so altho his familiar, he's still not confident to teach me. so yes, i'll probably find a qualified instructor for that.

as for housing, what my spouse's employer is providing for a subsidised apartment will cost $1000+ (inc utilities) which we thought is pretty decent as we ourselves haven't been able to find anything cheaper around that area. we might consider dartmouth too...'cos i'm thinking of going to school there.

whether you are tax resident in Singapore or otherwise will affect your tax rates substantially.

go find someone who knows about tax planning between Singapore and US.

depending on the level of your income, you might or might not be tax much.

Jeanwoo SG

Subsidized apartment.... meaning the state provided housing ? or your spouse's employer pays some housing allowance to help you cover part of the expense ?

When it comes to save/invest.. there's TONS !!! Vanguard is just ONE of many companies hungry to get their hands on your money. So take your time to shop around.

But most people defers their income into a tax defered account so they take a lower tax hit only when they retire and start drawing on the account.

Your spouse will need to talk to the HR dept to find out the details.

It's VERY easy to get a credit card in the USA.. just don't go nuts maxing out all the credit cards... because when you do.. you credit ratings will suffer....and that's a big no no when you're looking at buying a house or take up a loan.

Arapahoe SG

No, no quarantine. Remember the BCG shot we all had to endure in primary 1? I didn't have to have to get one during the primary six exercise because I popped positive for my PPD reading. Anyhoos, the INH treatment consists of popping two pills. The pill that treats the condition affects the liver so the second pill prevents the liver from overreacting. I had to pop those pills for one year. Nowadays it's a 6 month treatment.

Did they give you a Chest X ray? If your lungs are clear they should not have given you the Pills.

Most of us in SG will be tested positive because of our BCG vaccination.

jetta SG

Did they give you a Chest X ray? If your lungs are clear they should not have given you the Pills.

Most of us in SG will be tested positive because of our BCG vaccination.

Yup. Still had to take INH. The Americans don't call it BCG, can't remember what they know it as. Anyway, we were still in the Navy then and were in the midst of getting transferred to Japan. I had to do it to clear overseas screening.

lostintransition SG

ooohhh...size 14 is petite..i sure love the sound of it already!! ya..i always enjoy shopping in places like us, australia, nz 'cos can easily find clothes of my size. hate to shop in sg, japan, hk, taiwan....the clothes are made for tiny people and the sizes are getting tinier and tinier! arggghh

oops...i was just thinking about checking out the bank of america in SG to see if i can open an account here and still have easy access when i'm in MA.

lostintransition SG

Subsidized apartment.... meaning the state provided housing ? or your spouse's employer pays some housing allowance to help you cover part of the expense ?

When it comes to save/invest.. there's TONS !!! Vanguard is just ONE of many companies hungry to get their hands on your money. So take your time to shop around.

But most people defers their income into a tax defered account so they take a lower tax hit only when they retire and start drawing on the account.

well...the housing provided is meant only for staff...and i suppose the rental is much lower as compared to market rate. however, we are only allowed to rent for max 2 years...afterwhich we are expected to find our own accommodation. 2 years should give us ample time to sniff around the property market to find someplace suitable to buy/rent.

i mentioned vanguard 'cos it has always been an investor's dream to buy into no-load funds which aren't available in singapore! will definitely be looking around for other no-load funds also available in US apart from vanguard.

as for credit cards...do banks also need to check your credit history before issuing the credit cards? it'd take awhile before we can build up a decent credit record....so during that time, we've to stick to using our SG credit cards?

lostintransition SG

Also remember, it's not good to get a large amount back from the tax guy every year. Your goal is to be as near zero as possible. Too much money back = you're overpaying and the govt is holding on to your money, interest-free.

We call those people snowbirds. We get plenty of them here.

so do i understand correctly that one will have to estimate the amount of taxes one will have to pay for the year (base on income/deductibles) and to declare that amount for tax withholding? any penalty for under/over-estimating the amount of taxes?

talking about places where most of the residents are "snowbirds"....is it a good idea to own properties in those areas?

jojobeach SG

Meia Gisborn SG

You will be able to obtain a credit card in the US, but due to your lack of credit history in the country, you will probably not be able to qualify for one with a low interest rate and/or a waived annual fee. However, this should not be a problem if you're using the card purely for payment convenience and you plan on paying off the balance in full every month.

When you open up an account at a bank or credit union here, ask if you can apply for a credit or debit card through the bank, as they'll usually waive the annual fee for bank customers.

Meia Gisborn SG

talking about places where most of the residents are "snowbirds"....is it a good idea to own properties in those areas?

At your place of employment, you will be asked to complete Form W-4 so the payroll department can calculate the correct amount of tax to withhold from your pay. Federal income tax is withheld from your wages based on marital status and the number of allowances claimed on this form. You may also specify that an additional dollar amount be withheld. You can file a new Form W-4 anytime your tax situation changes and you choose to have more, or less, tax withheld.

There are penalties for underestimating your withholding (usually a percentage of the tax owed); there are no penalties of overpaying taxes--you just have to rap yourself in the head for extending the government an interest-free loan. You will get the overpayment back in the form of a tax refund, or you can opt to have the overpayment applied to your tax liability for the following year.

As for renting vs. owning property in the snowbelt, you're almost always better off owning the property even if you do not occupy it for several months during the year. Remember that making rental payments does not build you equity.

littlestream SG

erm, i made this thread sticky but it is so high up in the forum. not sure u folks will notice, so here it is :

http://www.sgforums.com/forums/2163/topics/326657

homer28 SG

OMG....Now I know why Sporean are so kiasu after reading how people prepare their move to US.Almost everything you can buy in Spore , you can buy it in the US for a cheaper price.

I only brought USD 1000 when I move to the US.If one is moving to the US for a job, the employer will usually take care of the relocation. Over here, most employee are paid weekly or bi-weekly. You should have sufficient income to buy most of the stuff after 2 weeks.Unless you are planning to buy a new car and not qualify to take a new loan due to no credit history, then maybe you can bring in more cash. For first timer, I would advise buying a cheap used car as you can cut down the insurance by paying full deductible for collision.If one is worry about buying used car, then try buying a brandnew Kia or Hyundai. They only cost between 10K to 12 K and they come with full 10 years or 100000 miles warrantry.They will tow your car if it breakdown anywhere in North America.They also compensate you for any hotel expense incur during the breakdown of your car.

Most important thing in the US for new resident is to build credit score. If you are a Amex holder in Spore, you can apply for a US Amex and start building your credit history straight away..Without a credit score, it is almost impossible to take any loan.Forget about buying house in your few years, without a credit score above 750, the mortgage rate will kill you!

The next most important thing is to get a US driving license as soon as possible even though the international driving license from Sg is valid for 1 year. The reasons are public transport is lousy here and one needs to have at least a year of US driving experience to get a good auto insurance rate. Due to a lack of driving record in the States, my first auto insurance was ten times more compare to what I am paying now . I would recommened not getting a new car and any auto loan on the first year. Buy them only when you have established a good credit and driving history. I bought an old car that cost $1500 that I can pay off without loan and I didn't even bother to buy any insurance for the car ,just the liability insurance will do. The final saving is quite tremendous.

jetta SG

oops...i was just thinking about checking out the bank of america in SG to see if i can open an account here and still have easy access when i'm in MA.

For those of us who don't fit into the tiny mold, shopping in the states is heavenly. To be surrounded by women who are larger in girth than moi, makes me feel oh so wonderful. The average dress size of an American woman is a 16, believe it or not. I have big feet as well so I'm doubly blessed to be here.

BoA is a good bank but they charge fees for everything. My good pal just quit her job at the BoA because besides being a teller, she had to meet sales quotas. I would say that in the interim, open an account with Citibank, BoA or any US bank in Sg. Once you're here, you can always move your money to a better bank or credit union. You can always withdraw up to US$400 daily from any ATM to tide you over. This is money from any SG bank account. Of course there are exchange rate fees involved but it's super minimal. (From personal experience since I've lived in several countries and US states.)

jetta SG

OMG....Now I know why Sporean are so kiasu after reading how people prepare their move to US.Almost everything you can buy in Spore , you can buy it in the US for a cheaper price.

Hey homer! Welcome to SGF's SO board. We'd like to get to know you better. How about an intro in our newbies thread? Where in the states are you at?

Re: Hyundai. We just got one and I got such a steal on it! The Elantra we got also came with 3 months free subscription to XM. I never thought I'd be stupid enough to pay for radio but.....

Arapahoe SG

OMG....Now I know why Sporean are so kiasu after reading how people prepare their move to US.Almost everything you can buy in Spore , you can buy it in the US for a cheaper price.

I think the minimum start up for an individual in the US is $5000. Even if you stay in a converted garage you still need to pay rent.

homer28 SG

Hi Jetta, I am pretty much settle down in Washington State. I have been travelling 100% across the States during my first 2 years and nowhere can beat the beautiful Pacific Northwest.

Absolutely, have to agree with you on the shopping experience..It is really the best you can get. Good customer service most of the time. Almost everything you buy, it is exchangable or refundable without hassle. One will only know what is a sales if they ever shop on Post Thankgiving -black Friday..Most retail stores have some of the craziest markdown in price.

Car are really dirt cheap here with all the freebies throw in..I bought a Hyundai for my wife as well, we are offered $200 for lifetime free oil change as long as we own the car and every quarter they will give us coupon for free car checkup and tuneup.

homer28 SG

I think the minimum start up for an individual in the US is $5000. Even if you stay in a converted garage you still need to pay rent.

I assume most individuals who are moving to US for job on H1-B would have some kind of relocation assistance from the employer. You don't really need $5000 for a start unless you are bringing the whole family over.

FYI, My monthly expense in the US before I got married was about USD 700 which include rental, my grocery , transport cost(gas and insurance).

Arapahoe SG

well 5k cover your first down payment for your car, 1 month deposit for rent and first month rent. insurance, phone/internet. Not to mention that there are basic things that you need to get to start.

and of course ultimately i think it also see which state you start up.

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