40 yr male, worked in IT in India for 11 years and relocated to US on H1b since 2016 (Web Automation). My investments include following: 401k 15K, Stocks + MF 14K, Cash 4K, Apartment Bangalore 50K, outstanding Loan -40K, Net Worth 43K. Being a sole earner and responsibility of family in past, I was not able to save much in start of my career, now with job switch I am adding 2k/month in Saving & 1.5k/month in 401k. As no financial planner is entertaining a person with that less balances, so all advices I got is from forums or Google, would request all experts here to share some advice - like what ways shall I use to plan my savings, where all I can put the money, career advancement what can I do to add more take home. It would definitely be helpful for me, Thanks for reading it. TC - 120k yoe - 14
Why do you have an apartment and a house? I’d get rid of one.
No I updated I have apartment only
You have two apartments?
No only one
There is a “reply” button you know.
Invest in india. Since youve relocated recently, you still must have relatives or friends there who can help you with the procedure. Property in india grows at 10-20% yearly and ive not seen that sort of growth anywhere (not in BTC, not in Stocks) ..
Did you forget to take inflation into account?
Haha that’s only when buying from the builder, try selling your house you will never see the 10-20% growth.
Yes please, I am trying to find another Property back in Bangalore / Noida /Pune, not zeroed in but yes I am also thinking this would be good option for long term..
You don’t need more properties you need to diversify.
Yes diversification is on cards for me now, so I am first building an emergency fund and then move over to investments, property is always on the mind for some reason :-)
Out of the 2k you save every month, start investing 1k in the S&P500 or Vanguard index. Do not trade, invest for the long term. Irrespective of market movements, your wealth will grow. To increase TC, get onto higher paying companies like FANG. Preparation depends on what role you want to take up. As liquidity seems to matter to you, don't go for pre-ipo companies.
Thank you very very much :-)
How much rent do you get from that 50K apartment in Bangalore? And what kind of mortgage/interest rate can you get?
Mo home loan rate of interest is 10% and as of now didn't rent as we were living in there before I came to US
I'd say max out 401k, build your emergency fund and then dump as much as you can into vtsax or vfiax every month. Focus on building long term wealth. If you can try to get a TC bump and move to a different place.
Yes please, my order is now maxing out 401k + building emergency fund.
Do you have a chance to get green card in a reasonable amount of time? If not then don’t invest in the US.
Honestly it may take somewhere 25-30 years in EB2 Category so chances are really grim.
Location? Omaha?
Jersey City