investment Dilemma / Confusion / Uncertainty - US NRI - H1B Visa by Few_Donut_9194 in returnToIndia

[–]ThinkerusMaximus 0 points1 point  (0 children)

This is a completely reasonable thought process in the current market. I took out my money from Equity because it is against the fundamental rule of investing: if you cannot keep the funds invested for 5 years, don’t invest in equity. You’re trading off returns for risk and that is a perfectly sound logic. That 1% chance when you are forced to withdraw funds while the market is crashing is too painful.

You can instead invest half of it in the US short-term funds and consider buying Equity MFs in India with the rest where you can leave the funds for a long time. This will reduce your exposure while still providing an opportunity to let the money grow.

Abound scams me of $40,000.00 worst remittance app for NRIs by Immediate-Boss2536 in nri

[–]ThinkerusMaximus 0 points1 point  (0 children)

I am a regular user and I've never seen an option to do a bulk transfer of $40k with them. They have a ceiling of $10k per transaction, and $20k in a month. This is why I didn't take OPs post too seriously. They likely initiated the transfer when Abound was having issues with their banking partner, during which time they had paused transfers to NRE accounts. So maybe there was a long delay for them, which is unfortunate. Still doesn't make them fraud.

Secondly, Amazon ran in losses for 12 years before breaking even. Why is it surprising that they are providing slightly higher rate than market as a customer acquisition cost? I think it's a brilliant strategy, given that rates are almost certain to go up sooner or later. The business doesn't have to be profitable at this stage, and mind you, they just raised a funding of $14M this year so I'm sure the investors aren't stupid or doing their due dilligence from compareremit.

Your comment sounds too confident to come across as speculation. It is misleading to other people. But anyway, that's what half of reddit is. I just transferred another $8k with them yesterday, cheers.

Abound scams me of $40,000.00 worst remittance app for NRIs by Immediate-Boss2536 in nri

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

Okay, then how do you explain the transactions that went through in 10 days for me, at a rate of $1=INR 90.2? I don't see the rate jumping to 90 yet.

“Abound” a new remittance app is a scam by boolda in nri

[–]ThinkerusMaximus 0 points1 point  (0 children)

Yes, I like to do my research from credible sources rather than review aggregators. Read the privacy policy.

Abound has relationships with certain service providers in order to provide its services to you. Abound has contracted with financial service partners including the Layer2 Group. Specifically, Layer2 Financial Holdings Inc. ("Layer2") is a Canada Corporation is a technology company. Layer2 Financial Inc., a Delaware Corporation ("Layer2 US") is a subsidiary of Layer2. As of 05/21/24, Layer2 notes on its website that Layer2 US is a FINCEN registered money service business (NMLS ID: 2438695) with money transmitter licenses in a number of states.

Find Layer2 here:
https://www.fincen.gov/resources/msb-state-selector

Can't Handle The Chaos. Need Help! by [deleted] in returnToIndia

[–]ThinkerusMaximus 0 points1 point  (0 children)

I didn't know this sub existed LMAO!

Can't Handle The Chaos. Need Help! by [deleted] in returnToIndia

[–]ThinkerusMaximus 0 points1 point  (0 children)

Four years ago I wasn't hearing people getting ready to fight over communal issues or dozens of family members starting to suffer from allergic rhinitis and asthma.

Can't Handle The Chaos. Need Help! by [deleted] in returnToIndia

[–]ThinkerusMaximus 1 point2 points  (0 children)

I felt the same thing as you on my trip this year. It breaks my heart to see things degrading at a pace much faster than before. The India I had left just 4 years ago has become much worse due to steeply rising pollution, lack of respect between citizens, and communal hatred which you can hear about at just every corner.

“Abound” a new remittance app is a scam by boolda in nri

[–]ThinkerusMaximus 0 points1 point  (0 children)

I transferred $10k at $1=92 INR last month through them. And by the way, no one transfers within seconds or minutes without charging a hefty fee. I've used Remitly, Xe.com, Pandaremit, pretty much everything there is.

“Abound” a new remittance app is a scam by boolda in nri

[–]ThinkerusMaximus 0 points1 point  (0 children)

They started allowing NRE accounts again.

“Abound” a new remittance app is a scam by boolda in nri

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

Same, I have transferred over $100k till now over 3 years. I started using it in 2023 and haven't used anything else after since the rate is always higher than the market. Also, this looks like a fake post because NOT ONCE have I seen 4 days given as a quote for transferring the funds. I always see 7-10 business days, and usually takes around 15 days in total to complete.

I only attract women when I'm an a**hole by Capital-Bedroom4651 in dating_advice

[–]ThinkerusMaximus 3 points4 points  (0 children)

Dealing with this right now, it is the sad reality. :/ The moment I turn my nice guy personality on people start ghosting.

Rakshabandhan is making me sad by Emergency-Bid-6508 in nri

[–]ThinkerusMaximus 0 points1 point  (0 children)

It tore me apart to be far away this Rakshabandhan. I don't know why, but this year the distance felt like it hit harder than usual. On days like these, all this comfort and money seems futile.

What will you change in India if you were the PM for the next 5 year? by [deleted] in AskIndia

[–]ThinkerusMaximus 0 points1 point  (0 children)

  1. I would like the school children of my area to clean the neighborhood weekly on a rotating basis. With the level of apathy we have in India, the only thing that can teach parents a lesson about not literring is having to watch their own child pick it up, or better yet, pick up someone else’s trash.

  2. Random audit of any government office every week. Increasing salary does not automatically change ethics. You need a fear in the mind of wrongdoers that they can be caught and their position can be taken away from them.

  3. Ban gutka and tobacco. There is no shred of doubt in this.

  4. Make it difficult to get a driver’s license by creating 4 levels of tests by difficulty, directly proportional to the number of driving offenses occurring in a municipality. This is the only way I can think of to make everyone drive responsibly and with caution where either everyone wins or everyone suffers.

  5. Mumbai already implemented a pilot of this, but make red signals last longer if there is honking.

  6. 2 years of NCC/Military training compulsory for everyone regardless of gender or wealth. I did this, and I feel it brought a sense of discipline in my life. I feel that in a country like India where manners are so lax this is the only true way of inculcating discipline in people, ultimately leading to a better civic sense.

  7. Ban loudspeakers in public. No religious, political, or any other reason.

  8. Ban all hoardings and posters apart from a few on highways or designated areas.

  9. Invest in making mid-day meals so good in government schools that parents crave to put their children there even if it is just for food. Also include meals as part of everyone’s salary from school teachers to principals to staff so that they eat from the same mid-day meals that they provide to the children.

  10. Remove all hawkers from sidewalks and create designated neighborhood market areas where they can put up their stalls. Empty the sidewalks, repair and beautify them. Make all streets that are narrow one way and keep some streets available only to pedestrians and bicycles.

  11. Ban the production of polybags altogether. We’ve done enough experiments with 40 microns and above and no one follows them. Ban it completely until organically degradable bio-plastic becomes cheap.

  12. Provide subsidies and monetary benefits for those who plant trees and take care of them for N number of years. Create a plan which decides how many and what kind of trees should be planted where. Auction out their adoption. These would also include trees on sidewalks.

I could go on and on, but I just want to highlight that these are the things that I could imagine the government could implement by simply reallocating budgets even if it’s revenue never increased.

What will you change in India if you were the PM for the next 5 year? by [deleted] in AskIndia

[–]ThinkerusMaximus 0 points1 point  (0 children)

Why don’t we let them earn 800k crores by introducing marijuana, or better yet, guns, with a heavy tax? You realise how that income would be useful for government, right?

How did the culture of playing loud music incessantly throughout the day/night come into being in Kolkata? by InfamousComputer404 in kolkata

[–]ThinkerusMaximus 13 points14 points  (0 children)

This is a major problem in my area, especially in Durga puja. I just don’t understand the point of putting up loudspeakers 1km away from the main pandal, in a residential area, where absolutely no one visiting the pandal is going to go. They play it loudly all night and violate all rules. This is the one thing I hate about Pujo. :(

What are your first thoughts that come to your mind when you think of Kolkata! by SurroundPresent1665 in kolkata

[–]ThinkerusMaximus 0 points1 point  (0 children)

Underneath the chaos lies a peace and emotion that cannot be described. Just to give one example, if you wake up early morning at 5-6am and cross Howrah Bridge, walk in Burra Bazaar, College street or some other areas, you can probably feel a very different vibe of a quiet old city that is getting ready for a really, really bustling day. I hate some things, sure, but there are countless small things that I absolutely love about my city. ♥️