Disclaimers: 1. This post is not about criticizing or supporting the immigration policy. So please keep that discussion off this. This is purely about individual choices given the current policy and environment. 2. Yes, I am an Indian and looking to "do the needful". So you don't have to ask the standard troll questions. If there are other insults or disparaging stereotypes you would like to throw at me, I'll gladly include them here, if it makes the trolls go away so the discussion can stay on topic. I am trying to decide between staying in the US versus returning to India. I was kind of gong through the +1 syndrome/phenomenon, but the recent H1B extension thing has given me a pause. I think I should make the call on whether I want to stay or go back. Apart from other (family, parents back home) concerns, which I'm dealing with, I would like advice about finance/life style. I've about 1M in savings, thanks to FB's stock price. I have not bought a house yet. My kids are not born in the US and adding that to the recent H1B extension scare makes me think the only way to stay in the US is by getting a green card. Without that, there is no peace of mind. I know that is kind of a privileged statement to make, but that is my opinion. As I already mentioned in the disclaimers, this is not a criticism of the policy. This is just my perception. I'm trying to decide whether to spend/invest 500k to get an EB5 GC, or to go back to India and use that 1M to provide me with a comfortable life, while probably working in a comfortable job (something like 30L). What would you do? Spending a large portion of my savings on this, means I'll have to compromise on some things. I believe I will still be able to buy a house though may have to settle for something smaller than before. I think that is the essence of it. I have to make a choice between below average middle class life (average among the tech crowd in the bay area), here in the US versus above average life in India, with the all the things it includes: kids' education, traffic issues, pollution etc. I don't yet know what kind of jobs and salary I can expect in India. I am not a manager, but an (old) engineer, so I don't know what kind of openings I have. Some friends back in India told me that it's harder to find positions as an engineer in India beyond 10+ years of experience. I haven't started exploring yet. Are there any gotchas in EB5 process? Is there a chance of not getting a green card after putting the money in? Is the money that you put in, effectively spent, or is it an investment that you can withdraw in x years? If I can withdraw even just the principal in a few years, it may come in handy for the kids' college. So even if it doesn't have any gains, that may be okay and I can treat it as the cost of getting the privilege of green card. What do Blinders think?
I thought do the needful means get laid
I would go back to India if I am in your position !!
Thanks. What is the clincher for you?
H1B restriction + GC wait + US taxes worldwide
I would not go back because of h1b scene neither spend 500k... you will end up getting GC.. be patient... I would go to India only coz I wanna live in India..
Sorry if I sounded that going back to India was a forced choice. Like I said, there are all the other issues with family ties etc, that I am still dealing with. I wanted to keep them separate and off this discussion. I want to focus this primarily on finance/lifestyle issues. As for GC, I used to think that too (that something will change and we'll get green cards). But the recent happenings have scared me. I'm losing sleep over these thoughts. If I'm staying, I'd like to have the freedom of making choices - quitting FB and working for a startup for instance. Or my wife having a career without scare of losing that one day because of policy changes etc. And not having to be concerned every 3 years. And having the freedom to visit our parents whenever they need us, without having to worry about my visa status etc.
If I were you, I would go back and won't for someone else back home. There are many things to choose from. For example you can work on your startup and fund it through your money or the interest that you get on your money. Or you can also chose to do some other business Think restaurants or fast food chain.. the possibilities are endless when you have a capital like 1M.
Thanks. That thought (of working for myself) does occur, but I am not sure I've the drive and energy. Ideally, I'd like to work on something that makes a positive (even if tiny) difference to India, while making a living out of it. I don't want to be in the rat race to earn, but use my savings as providing some asset and a cushion while earning enough to provide for my daily needs without dipping into my savings. I want to use the savings for retirement and kids' education. Any ideas on what kind of companies that exist that I can join, or what kind of business I can start?
Search for "social startups India", you'll find plenty that fit your bill if you wade through the results. Check this too: https://www.meetup.com/Bangalore-Social-Entrepreneurs-and-Startups/
Go back to India.
1M is awesome savings ..You have plenty options .I would go to Europe -closer to India + saner immigration than the US and you don’t have to compromise on quality of life .How about internal transfer to Facebook London ?
Wut Either you're solving for family and happiness after 50+, or you're solving for stellar career growth in the tech industry. Why London or Europe, where you get neither? Remember going to a training program in my business, there was a Tamil guy immigrant among the Western European delegation... Really felt bad for him, however hard he tried he's still an outsider, and he's a second generation European. You don't feel that way in the bay area or Seattle or NYC. I'd try to live in Europe for 3-4 months on an assignment, if you're thinking seriously, maybe you'll realize you're going to be a permanent outsider.
Thanks @Datarobot. I've not given serous thought to Europe. My thinking was, if I'm going to uproot the whole family, why not just move to India. Also Brexit and the discussion around it made me think UK is not going to be immigrant friendly (esp to a non-white, third world origin person). As for the rest of Europe, I have a romantic idea of life in those countries, esp Nordic countries or Netherlands, but heard that it is really hard or impossible to get a citizenship.
Just go back to India.
You've do different problems: Going back to India or staying here: I'd recommend taking time off and spending a month or so in India. That'd give you some perspective of daily life there. Look how it commute is going to be. Regarding EB5: You'll need to do a lot of research and watch out for EB5 fraud.
I would take EB5 route, if I were you. Remember that you aren’t throwing 500k in the drain. You are just investing in a business (mostly a hotel/commercial property). You can get out of it after 5 years I believe. Say in worst case, you lose 20% on your 500k, you are essentially paying 100k for GC and citizenship at end of 5 years. Considering the current circumstances, that looks like a fair deal to me. But say you end up with no loss or even a marginal profit, you would be a happy man. Talk to a good law firm who specializes in EB5 and if you are convinced, take that route before they close it forever! Dont get carried away by BS like starting startup in India and stuff. Those are all fairy tales. If you are really that kind, you would have already done it and succeeded. Remember that once you get citizenship, you always have the choice of staying/moving where-ever you want and you are giving that choice to your kids once they grow up. I would value that liberty and choice worth more that 100k/200k.
So... recommendations for good law firms?
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My $0.02: What do YOU want to do? What does your FAMILY want to do? Buying a car or a house can be a logical decision. Deciding which country to live the rest of your life in, although involves logic, can hardly be a calculated decision. You only know a fraction of the pros and cons of your options. Do what your collective hearts really want, you'll easily deal with the consequences together and live a happier life. Isn't that the only thing that matters in life? Logically, I can't see much reason to discourage you from either option so long as you take reasonable measures to ensure it works out.
True. I wish I could do that. It's the fear of choices that we make for our kids, that worries us. Are we depriving the kids of a better future by moving back? Are we harming them by practically severing family ties and making them rootless? Is it worth it? Even though it is the same case whether we stay on H1 versus GC, it has a sense of finality to it and that is kind of scary. These are the questions we are struggling with.
Why not tell your kids (if they're old enough to understand things) the good and the bad about either choice and ask them what they want? Seems like you grew up in India and turned out okay. I'm guessing you'll be able to provide your kids a better life than you had wherever you live. Is there really such a thing as "best"? Everything is a trade-off, it's up to us to decide which is worth it. PS: I'm speaking from the perspective of a kid who was asked this very same question long long ago and had to make up my own mind about what I wanted. Did I wish I'd taken the alternate path? Sure, sometimes. But that's not unique to either path, I'm sure I'd have doubted myself either way. All choices/decisions come precertified with "what if" thoughts built into them.