minimal income qualification for k-1

[tinman 33]

I retired 1 1/2 years ago accepting reduced pension benefits. In getting ready to file a new K-1 visa for my Vietnam Sweetheart, I just realized the minimal $24,000 per year stipulation. My pension is onlyabout $22,000 gross, but I have 6 figure 401k assets, as well as free and clear owned land property worth about 100k. Will I still qualify with the $22,000 liquid income considering my assets?...or will getting another employment be necessary?

Thanking any comments in advance. Ronn

[Anh map 2,098]

I retired 1 1/2 years ago accepting reduced pension benefits. In getting ready to file a new K-1 visa for my Vietnam Sweetheart, I just realized the minimal $24,000 per year stipulation. My pension is onlyabout $22,000 gross, but I have 6 figure 401k assets, as well as free and clear owned land property worth about 100k. Will I still qualify with the $22,000 liquid income considering my assets?...or will getting another employment be necessary?

Thanking any comments in advance. Ronn

$24K is for a household count of 3. Do you have a minor child or other dependent?

FWIW: spend some time reading in the Vietnam regional forum to prepare yourself for the meat grinder that is the HCMC consulate.

[Dave&Roza 748]

I retired 1 1/2 years ago accepting reduced pension benefits. In getting ready to file a new K-1 visa for my Vietnam Sweetheart, I just realized the minimal $24,000 per year stipulation. My pension is onlyabout $22,000 gross, but I have 6 figure 401k assets, as well as free and clear owned land property worth about 100k. Will I still qualify with the $22,000 liquid income considering my assets?...or will getting another employment be necessary?

Thanking any comments in advance. Ronn

The requirements are here. Based on what you are saying is that your household size is 3. You can use assets as long as they are 1) readily convertable to cash, 2) do not place an undue hardship on you if you were to sell them (i.e. primary residence, the only family car), 3) must be 3X the shortfall if sponsoring a spouse otherwise it is 5X. So your assests will need to be about $10,000 to cover the $2-3K you are short. A six figure 401K should be enough, but I would make sure you have the short fall in cash or easily convertable into cash.

Good luck,

Dave

[aws&ndd 103]

The 3X rule also applies to fiances, so if you are only short $2000, then you will only need about $6000 to cover the shortfall. If you have the assets that can readily be converted to cash then you are good to go.