Current Situation: Net worth about $750k. Came to US 5 years ago with 0 savings. Got lucky with Amazon stock appreciation and Seattle real estate. I also invested in a manufacturing business with a friend in India and that business is now giving me a passive income of about $10k/month. I do believe that if I start playing an active role in it, we can get to 5X the earnings. Only thing stopping me is the quality of life and kids education in India. I don’t have a green card but expecting it in next 3 years. However, I am also not entirely convinced to waste 3 years of my peak waiting for GC. What would you do if you were in my place?
That’s quick for Indians. Eb1? If your kids are US-born, no harm in returning to India now. Otherwise wait and make sure they get the green card so they have more options in future. You can afford the best private tutors and intl schools in India with that kind of passive income
Yes EB1. Mid 2018
Good stuff. Make sure your kids have the option to return, that hedges your bets. You’re basically FIREd, even if the business doesn’t grow you’ll be OK. I assume you are not counting capital invested in business in 750k NW (if at risk)
How old are you? Things are going pretty well for you Why change things.
I am 34.. i just don’t want to work for an employer anymore. I would quit in a heart beat if I had my GC.
This, my friends, is an Indian humblebrag. The 3 year wait for a GC gave it away, while your countrymen and women toil away for decades here with their pending GC status. I am a white American guy, so I don't give a shit, but I think this kind of post is a bit of a dick move.
I would move for $10k pm earning from business. If u can 5X it, its easy decision. With that money u can get ur kids to the best schools, travel around.
What type of manufacture?
Wtf . 750k networth, u are lying
Are u L6 or above !
Yes, I am L6 Manager.
If your kids are grown up enough, they may have a hard time settling down in India (if they move with you)
My kids are young. Elder one is 4 years old. Both are US citizens.
Wait, they can take the sworn for citizenship only after 21 right?
Will the 5x earnings in INR beat your income/investment trajectory in USD in the short term (say 5 years) with INR depreciation factored in?
I think so. But with business there is always a risk.
EB1 has 3 yr wait? WTF
Out of curiosity, what kind of manufacturing business is this? How did you guys come up with this plan? Congratulations, looks like things are going very well for you!
There are 2 things we do: 1. Look at labour intensive products in China which are imported a lot to India and we make them at a cheaper price as labour is cheaper in India than China. 2. Leather goods which are exported I can not disclose the exact products but there are many such products where a killing can be made by just moving manufacturing to a lower cost country. And now, with tariffs for China, India has a unique advantage. In fact, most of what we make are in the most recent tariff list for China. This also is a big kicker for me to expand the business.
That’s amazing. Would you like to share a bit about your background? How did you manage to transition from Software to Manufacturing?
Green card in next threes years? Is that even possible?
Filed EB1 in 2018.
How did u manage to file EB1? PHD?