I864 question income vs assets

[Kyle6811 24]

@pushbrk

Hey Pushbrk, you’ve helped me get all my stuff in order and I submitted our I-130. I just saw that they have an alternative option for income if you can show assets of 3 plus times the 125% pov level in lieu of income. Is this correct? We’re having a hell of a time trying to navigate two moves and a job. Thanks for any feedback. The reason for this question is if it is possible I might reconsider just moving to Mexico for the time being.

[pushbrk 12,876]

5 hours ago, Kyle6811 said:

@pushbrk

Hey Pushbrk, you’ve helped me get all my stuff in order and I submitted our I-130. I just saw that they have an alternative option for income if you can show assets of 3 plus times the 125% pov level in lieu of income. Is this correct? We’re having a hell of a time trying to navigate two moves and a job. Thanks for any feedback. The reason for this question is if it is possible I might reconsider just moving to Mexico for the time being.

Yes, the instructions are pretty clear on this.  Make sure you understand what they mean when they use the word "liquid" preceding assets.

[Kyle6811 24]

4 minutes ago, pushbrk said:

Yes, the instructions are pretty clear on this.  Make sure you understand what they mean when they use the word "liquid" preceding assets.

@pushbrk Does that exclude any retirement assets?

5 minutes ago, pushbrk said:

Yes, the instructions are pretty clear on this.  Make sure you understand what they mean when they use the word "liquid" preceding assets.

And thank you for replying. 

[pushbrk 12,876]

2 minutes ago, Kyle6811 said:

@pushbrk Does that exclude any retirement assets?

And thank you for replying. 

Study the instructions, then ask specific questions.  For retirement assets, it depends on whether there would be penalties for early withdrawal.  Usually there are.  This is why "instructions first".

 

[Kyle6811 24]

23 minutes ago, pushbrk said:

Study the instructions, then ask specific questions.  For retirement assets, it depends on whether there would be penalties for early withdrawal.  Usually there are.  This is why "instructions first".

 

@pushbrk ok thanks. I’d have to liquidate some before that then and pay the penalties. I received our notice of receipt but not the online number yet. This is sort of a secondary thought. Just trying to understand our options. 

[pushbrk 12,876]

1 minute ago, Kyle6811 said:

@pushbrk ok thanks. I’d have to liquidate some before that then and pay the penalties. I received our notice of receipt but not the online number yet. This is sort of a secondary thought. Just trying to understand our options. 

Penalties and tax withheld.

 

[Kyle6811 24]

8 minutes ago, pushbrk said:

Penalties and tax withheld.

 

Correct. I wouldn’t need much from it. But yes I’d take what netted over the required amount.

[pushbrk 12,876]

10 minutes ago, Kyle6811 said:

Correct. I wouldn’t need much from it. But yes I’d take what netted over the required amount.

Yes, that would take care of the liquid issue, but do show and document the remaining balance as well.