How can I increase my networth in next decade?

TD Ameritrade / IT
blindLover

TD Ameritrade IT

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The Madison Square Garden Company, SAP
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Jul 17, 2019 46 Comments

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

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TOP 46 Comments
  • Qualcomm / Eng sha575
    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) ..
    Jul 17, 2019 5
    • Oracle pzd
      Regardless of where you live, the return on your investment always needs to be adjusted for inflation.
      Jul 17, 2019
    • Might not be sound advice. I'm not sure though. Rupee value is declining. Indian Interest rates on mortgage/loan is high. Inflation in India is high.
      Jul 17, 2019
  • Why do you have an apartment and a house? I’d get rid of one.
    Jul 17, 2019 8
    • New / Eng h7j8
      Horrible how? India is on the economic rise, a decent apartment in a major city is a good bet
      Jul 18, 2019
    • It sounds like the margins are still slim, who wants the headaches?
      Jul 18, 2019
  • TD Ameritrade / IT
    blindLover

    TD Ameritrade IT

    PRE
    The Madison Square Garden Company, SAP
    blindLovermore
    OP
    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..
    Jul 17, 2019 4
    • Neurocrine gomv61
      If you narrow down on a few, let me know. I am interested as well.
      Jul 17, 2019
    • TD Ameritrade / IT
      blindLover

      TD Ameritrade IT

      PRE
      The Madison Square Garden Company, SAP
      blindLovermore
      OP
      Sure
      Jul 17, 2019
  • Microsoft aCCX36
    Please leetcode .. and switch. That will be the most effective way to handle your current finances.
    Jul 18, 2019 1
    • Salesforce AnEng
      The best investment you can make is on yourself
      Jul 18, 2019
  • LinkedIn 🤞🤞q
    Dude, get basics right.

    Key to good financial status is being good in atleast 2 and decent in 1 of the 3: earning, spending and savings.

    Apart from saving strategies, focus on increasing your TC, which seems to be bit low because you seem to be the sole earner. Do job switches if needed, study for job the switch if needed.

    And regarding savings, take tax benefits like 401k and other tax deferred plans like the one for kids education. Also read bogleheads for investment strategies.

    Most importantly, you are stuck on H1b in US for a long time. I would assume your kids were born in India. They may age out by the time you get green card.

    Make plans (investments) for moving to India eventually if the green card situation for Indians remains the same.

    I would suggest staying away from US real estate at the moment due to the H1b uncertainty and shaky real estate here.
    Jul 17, 2019 1
    • TD Ameritrade / IT
      blindLover

      TD Ameritrade IT

      PRE
      The Madison Square Garden Company, SAP
      blindLovermore
      OP
      Thank you, awesome really helpful :-)
      Jul 17, 2019
  • 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.
    Jul 17, 2019 1
    • TD Ameritrade / IT
      blindLover

      TD Ameritrade IT

      PRE
      The Madison Square Garden Company, SAP
      blindLovermore
      OP
      Thank you very very much :-)
      Jul 17, 2019
  • TD Ameritrade / IT
    blindLover

    TD Ameritrade IT

    PRE
    The Madison Square Garden Company, SAP
    blindLovermore
    OP
    No only one
    Jul 17, 2019 1
    • There is a “reply” button you know.
      Jul 17, 2019
  • Salesforce AnEng
    Summary:
    1) Improve TC by switching companies sooner than later. Unless you earn more, you can’t save more.
    2) Plan to rent your Bengaluru property at the earliest
    3) Focus on safe investments in India if you don’t want to take a lot risks. Max out 401K only if you plan to stay here longer
    4) Diversify investments in India. Real Estate is pretty flat these days. Get few lands with the help of relatives in a reasonable price.

    All the very best.
    Jul 17, 2019 1
    • TD Ameritrade / IT
      blindLover

      TD Ameritrade IT

      PRE
      The Madison Square Garden Company, SAP
      blindLovermore
      OP
      Thank you Buddy, I make a note of it :-)
      Jul 18, 2019
  • Wayfair bnKI45
    It's great that you are asking for advice but blind is really not the best place to be asking. As someone already mentioned Bogle heads forum would be much better. If you listen to podcasts try https://www.choosefi.com/100-welcome-to-the-fi-community/ and https://www.choosefi.com/019-jlcollinsnh-stock-series-part-1/
    Jul 17, 2019 1
    • TD Ameritrade / IT
      blindLover

      TD Ameritrade IT

      PRE
      The Madison Square Garden Company, SAP
      blindLovermore
      OP
      Thank you, appreciate your advice.
      Jul 18, 2019
  • LinkedIn Wiener
    Do you have a chance to get green card in a reasonable amount of time? If not then don’t invest in the US.
    Jul 17, 2019 1
    • TD Ameritrade / IT
      blindLover

      TD Ameritrade IT

      PRE
      The Madison Square Garden Company, SAP
      blindLovermore
      OP
      Honestly it may take somewhere 25-30 years in EB2 Category so chances are really grim.
      Jul 17, 2019

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