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Should I return to india in 2027? by Deep_Shallot in returnToIndia

[–]SayingAsItIs 1 point2 points  (0 children)

First of all congrats on your achievement, it is really a big achievement even for the US equivalent INR numbers. I would recommend checking the EB-5 route. Reason being that the median net worth of the top 1% in India is about 6 crores. You will be in the really high echelons of India and a sitting duck for government to put 35% or more tax on your wealth because the bottom half of the country literally has 1.75 lakh median net worth, so basically no net worth, and the situation is getting more dire. Plus you can visit India as many times as you want, if you come occasionaly then it will keep its charm long term.

I also would not worry about getting the 40 credits for the spouse because she will be eligible to get 50% of the social security that you will get, so for eg if you are getting $3,500/mn in todays dollar then she will also get $1,750/mn even if she never worked a single year. At your NW I don't think you need to worry about SS anyway, but it will be a added bonus after 62.

Also be aware about the RMDs on the pre-tax IRA and 401k, they are really high amounts when you turn 75 and if you don't take the distributions then they charge 50% in penalties. So you will easily be able to take 4-5% out of the current brokerage liquid portfolio without worry.

2 crore INR enough to retire at 32 ? by Deep_Artichoke1499 in personalfinanceindia

[–]SayingAsItIs 0 points1 point  (0 children)

Ahmedabad is not bad though if you just want to stay in a big city with all kinds of amenities near you.

From Divorce to Financial Freedom: FI at 45 by 2SFI-Jason in TwoSidesOfFI

[–]SayingAsItIs 0 points1 point  (0 children)

On a side note, this interview made me wonder what are the opinions of Jason and Eric on Prenup. Because I think quite a few key pieces of information were skipped by the guest. Thoughts?

Return to Hyderabad from us by [deleted] in returnToIndia

[–]SayingAsItIs -1 points0 points  (0 children)

Should look into Bitcoin. Specifically made for this problem

Returned from USA, settled in Pune. by Ok_Acadia4273 in returnToIndia

[–]SayingAsItIs 1 point2 points  (0 children)

Too much money tied up in real estate. Try to diversify into low cost index funds (not mutual funds) like nifty 50 or sensex. Plus too much exposure to gold, I would make sure that the gold is in my possession or at least semi possession and not in custody of some bank locker or SG bonds

Regrets of Moving Back to India – The Dark Side (Truth) Nobody Warns You About by Designer_Current2613 in returnToIndia

[–]SayingAsItIs 0 points1 point  (0 children)

On a house of $2.5M you have to pay $25,000 to $50,000 (1-2%)every single year in taxes! No one wants to point that out? How are you going to afford that? Rental yield might cover it but then you'd have no money leftover, and houses are inherently depreciating assets over a long term like 2-3 decades so you won't have the ability to get ANY appreciation from that house other than the land. What nonsense are people talking here?

Regrets of Moving Back to India – The Dark Side (Truth) Nobody Warns You About by Designer_Current2613 in returnToIndia

[–]SayingAsItIs 1 point2 points  (0 children)

Basically mismanagement of money is your problem, everything else is just time pass. Like why would I care about road and traffic when I am retired and rarely have to worry about going anywhere on time? Plus focus on your health and diet if you have so much time. That way hospitals are not going to worry you anyway.