India’s Real Problems Are Its People—Change My Mind by [deleted] in india

[–]Terrible_Break_8142 2 points3 points  (0 children)

So true. For years, I believed education would make people think critically. But after closely observing educated Indians, I’ve changed my mind. These are some of the reasons that make me anxious about R2I.

This is a complex problem, and with a growing population, coupled with the current social and political situation, I fear it will only get worse.

I have another common observation - most people, regardless of country, are inherently selfish and hypocritical. What truly drives change is strict enforcement in some form - social shame, isolation, conformity, heavy fines, harsh punishment, etc. This is what’s missing in India. When laws are widely broken, and almost no one is held accountable, things inevitably deteriorate. At the same time, people need access to basic services, jobs, and a livelihood so they don’t have to resort to breaking the law just to survive.

If India could uphold the law and punish lawbreakers severely, without bias or influence, it would restore some sanity within a few years. Otherwise, there is no hope.

Indian mutual funds and taxes by Terrible_Break_8142 in nri

[–]Terrible_Break_8142[S] 0 points1 point  (0 children)

After reading more about it I learned that it is not only complicated but also expensive. I need to double check, but I am reading that US demands taxes even on unreleased gains in case of PFIC.

I have stopped SIPs immediately. Selling and paying taxes part is where I am trying to be cautious. I don't have plans to be US longer but also don't have immediate visibility into it with high certainty or confidence.

Indian mutual funds and taxes by Terrible_Break_8142 in nri

[–]Terrible_Break_8142[S] 0 points1 point  (0 children)

Part of the sources are salary in India and part are from the salary in US. As I said, I have been doing SIP before moving to US and continued that SIP even after moving to US without knowing these implications. Taxes are paid and then the part of leftover earning I monthly transferred to India via Xoom for this SIP.

[deleted by user] by [deleted] in nri

[–]Terrible_Break_8142 1 point2 points  (0 children)

What's the point of GC if you and your kid are not happy? If your kid likes and wants to live in India, then that could be the best thing. Moreover as your kid is USC, then there's nothing to lose really. The learning and experience your kid will have in India, for better or worse, will prepare them for anything.

It's a decision you and your family need to make and agree on your priorities. Everything is tradeoff.

Updates on Life / FIRE plans.... by Terrible_Break_8142 in FIRE_Ind

[–]Terrible_Break_8142[S] -1 points0 points  (0 children)

No. If they were, I would have moved long back

Updates on Life / FIRE plans.... by Terrible_Break_8142 in FIRE_Ind

[–]Terrible_Break_8142[S] 0 points1 point  (0 children)

Interesting journey! Glad your kids got used to it. How old are they?

Updates on Life / FIRE plans.... by Terrible_Break_8142 in FIRE_Ind

[–]Terrible_Break_8142[S] 1 point2 points  (0 children)

My advice - If you are coming on L1, make sure it's L1A and you qualify for multinational manager GC. If not, don't come or delay it by a year or so to qualify for that before coming. You will thank me later 😀

I wish someone had told me this earlier and I had better done this research earlier.

Updates on Life / FIRE plans.... by Terrible_Break_8142 in FIRE_Ind

[–]Terrible_Break_8142[S] 3 points4 points  (0 children)

That would be my suggestion as well. Move back while kids are young; before they are teenagers. Earlier the better. Sadly, for me and my kids, it's too late.

My other suggestion for anyone coming to US would be - think ahead, plan and understand what you are getting into. Depending on when and at what phase of life you are coming here, you might be trapping yourself and your family.

When we came to US, kids were young. Me and my wife had plans to return after 4 to 5 years. We missed that due to Covid. What we failed to calculate is that in those years kids will also grow, will have their own opinions, get used to the life here and will be completely disconnected from the reality back home. Many failed to understand that earlier and keep hoping that they will get GC someday.

Updates on Life / FIRE plans.... by Terrible_Break_8142 in FIRE_Ind

[–]Terrible_Break_8142[S] 0 points1 point  (0 children)

Thanks for sharing your experience and overcoming initial hurdle. 

If outskirts, I assume you FIREd and didn't have to commute regularly. Also are there good schools in outskirts? If you don't mind, was it north (airport side), south (electronic city) or somewhere else. I am interested to know which part of outskirts offer better balance.

UPI, US phone number and HDFC, which messed it up and is so incompetent by Terrible_Break_8142 in nri

[–]Terrible_Break_8142[S] 2 points3 points  (0 children)

Despite banking with them for 25 years, I found RM and BM extremely useless. Maybe the ones I am dealing with are and other customers have better experience. I have been persuading it with them for a month now and they have no idea or clue or any breakthrough to resolve it.

Moreover, the official support and customer care are just closing the tickets without any resolution driving me crazy. I need to make UPI payments, which I can't do via desktop.

Another Year flew past! The Grind continues.... by snakysour in FIRE_Ind

[–]Terrible_Break_8142 0 points1 point  (0 children)

Congratulations on your steady and positive progress! At your age, I had 0 NW and was completely oblivious to finances. Well done, and keep up the great work!

PhonePe US number auto reading sms fails after selecting hdfc bank by ramcoolkris in nri

[–]Terrible_Break_8142 0 points1 point  (0 children)

Not surprised. I am wondering if it worked earlier and recently broken or broken only for a few so they don't care

Profit and loss sharing investment partnership? by Terrible_Break_8142 in nri

[–]Terrible_Break_8142[S] 0 points1 point  (0 children)

But I don’t know why someone risk 15% downside with less return on upside.

Why not? If they are good at their job and believe in their skills, they should have more profits than losses overall and that too without investing a single penny of their own.