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Hoots : Is there a sharia based 401k alternative? I am very interested in investing and saving. I read this order of investing. I am a Muslim living in a Muslim country. I do not have 401k plans. What alternatives can I use which - freshhoot.com

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Is there a sharia based 401k alternative?
I am very interested in investing and saving. I read this order of investing. I am a Muslim living in a Muslim country. I do not have 401k plans. What alternatives can I use which satisfy sharia?


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No there is not, because it wouldn't make sense to set one up.

A 401k is not an investment, it is a special type of account that receives favorable tax treatment by the US Government in exchange for additional controls on when/how you can withdraw your money.

Also, given that you do not live in the United States, there would be no benefit to a 401K account since you are unlikely to be filing US tax returns.


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