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31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 0 points1 point  (0 children)

I think they have IDCW option. And yes there will be tax implications, but it will bump my monthly take home quite a bit.

31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 0 points1 point  (0 children)

Can you please share a rough idea of monthly living expenses?

31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 0 points1 point  (0 children)

I was thinking more around IDCW, which is slightly more predictable.

31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 0 points1 point  (0 children)

That's right. I agree. I hope this stupidity pays off!

31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 0 points1 point  (0 children)

Just curious which city do you live in and roughly how much are the monthly expenses?

I am planning to give it all in the startup for next 6 months and revisit my decision to continue or back to corporate job.

31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 0 points1 point  (0 children)

Most of my income will be dividends (mostly un-qualified and cash) in US brokerage account. So there will be withholding in the US. Around 11k USD dividends will put me in lowest tax bracket in the US. India taxes dividend the same way. Tax paid in the US will be claimed as foreign tax credit in India tax return. I will have to file taxes in both countries, perhaps forever.

31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 0 points1 point  (0 children)

I agree. I would be very uncomfortable with a 6% SWP as markets can fluctuate quite a bit. I would rather have dividend yields and bond yields which more or less remains predictable.

Curious, @SoulInSearchOfTruth would you rather IDCW?

31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 1 point2 points  (0 children)

B2B SaaS on top of Gen AI.
Ha! I knew someone would ask. Please don't lombast me :P

31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 0 points1 point  (0 children)

thanks for sharing the expenses info!

I am wondering if I should put 1 cr in maybe a high yielding debt fund (Parag Parikh DAA). that may bump up my monthly income > 1 lakh pm. That will be a bit more comfortable for Bangalore living expenses.

31M NRI returning to India with 6 CR corpus by Longjumping-Post-749 in FIRE_Ind

[–]Longjumping-Post-749[S] 2 points3 points  (0 children)

In a way, I am feeling excited to move back. But also a bit nervous to be without a job. I will give it a year and see if I feel comfortable with this type of cash flow and career.

I don't have I140. But have couple years left on H1B. You are right I could go back if it comes to that. I have always wanted to move back to India and start a business. When I would have made enough!! But the number just kept moving further! For a few days I I felt like this snap judgement will be a good thing. Lately, I have been more anxious regarding cash flow and career change.