Thinking of moving back to India after 20 years in the USA. We have a toddler and $2M cash. Will leave our 401k and 529 (college savings) untouched. We are both programmers. What lifestyle can I expect in India? What are good cities to move back to? What professions can we get into that are rewarding and that value our skills?
Have you spoken with a financial advisor about moving money back and forth (repatriation costs, etc)?
Bangalore, Bombay, Delhi and Gurgaon are cosmopolitan. Chennai is still more of a traditional south Indian town. Hyderabad is hot but is cosmopolitan too.
Mumbai is very fast, transportation is bad given how crowded trains are, air getting worse by the day there. But when it comes to social, festivals..its right on top... more diverse than any city in India
Chandigarh if you want to relax
Why u want to move ? India is socially backward country.. why you want ruin your kids life(socially)
What are some big social issues that impact kids lives and their mentality?
Mr T, you need to get out more ..!!
2M cash after selling your house here or you’re going to keep the house here on rent?
After selling a Bay Area house. Without it, we’d only have $600k cash. How would that change my prospects you think?
You’ll have one less hassle to deal with now. So managing rental crap. Btw why are you leaving? Are you a citizen of Us already?
If you want to continue in the software industry there are only a handful of cities where you can go to. Bangalore, gurgaon, Delhi, etc. In all likelihood u will end up in Bangalore given the abundance of opportunities there. What your kids learn and how they grow dpends on multiple factors - parenting, education, society etc. Remember that you grew up in India and going by ur post you have done well for urself. Your kids will get a chance to grow alongside their cousins and relatives which you won't get here.
2M is not enough and bad for kids
What is bad for the kid? The $2M or growing up in India? Also if the $2M is not enough for financial independence, we’re willing to work, like I said. I’m just trying to find out options.
2M is not enough? Geez, that's 80k$ per year at 4% withdrawal rate, 50 lac rs at current rate. That should be enough to lead an upper middle class lifestyle.
Did you sell all your brokerage assets and converted to cash for this move? You should plan for the next year's tax bill if my assumptions are right.
Haven’t sold but as another person commented, we need to figure out tax implications and the best tax strategy. I don’t have to sell everything all at once since that might not be tax smart.
Ohh so the 2M includes liquid cash and unsold assets, is it? DM me if you want to brainstorm on this topic, me and my colleagues talk about it often.
Pune. But why not get parents/ in laws here instead?
Feels like moving 4 senior citizens to a foreign culture far away from their life and friends of decades is worse than moving a young(ish) couple and a toddler 🙂
I hear you.... but on the flip side, they can make friends here. Move to a desi dominated locality. They can also visit their friends in India more easily if you live and work here as you have more money and purchasing power. Your toddler will definitely be at a disadvantage growing up in India vs growing up here.
You’ll be set for life.
What kind of a life? And which part of india? Details please.
In India you are never set for life with cash savings because inflation is 10% a year.