Tired of working here and these immigration stuff, want to move whole family back and lay back. Current NW about 1M with 2 kids. I am thinking put money in US bank and take interests back, its about 50k/yr, later if it down to 3%, about 30k/yr Is this enough to retire?
Why don’t you take that money to India? Higher interest rates there.
Just feel more secure about USD
30k/yr should be enough for almost all cities in India, with a good enough lifestyle (except maybe Mumbai). Also, you could take up consulting/mentoring work part time, so yes, you can chill!!
Should be a good life op; not luxury but well above middle class…
Put it in index funds, withdraw 3 % for safe withdrawal for next 50 years. Do not leave it in banks to rely on interest .
What’s difference between these? How can ai learn these knowledge, any keywords or video you recommend?
If you're doing this for the long term, you have to take inflation into account. The ideal way to do this is to put it in the stock market, and then take out no more than 3 or 4% of the value every year. Read at least the first 15 parts of this series: https://jlcollinsnh.com/stock-series/
I think you’re burnt out, take a break first and give yourself some space.
Im facing serious situation, have to find an exit
Why not continue working once you are back in India? Hiring is picking up there. And you won't have to worry about immigration.
Your money has to last 60 years. Put the numbers in an annuity calculator and see. I started with 1M and 60K annual withdrawal at 6% return lasts for 49 years.
US banks don't pay good interests. You can get more out of just plain FD in India. 1m liquid is good enough if you already have a place to live. More than enough if you are going back to tier 2 cities
50k = 40L. Good enough in any Tier 2 cities.