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Decided to payoff my mortgage.
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Thats going to be a huge change for the child. Do you think thatll be good for them? Youll definitely live well on $30k a year in India but is it wise for the child? Will they attend an international school? If so, that $30k wont be enough.
did i say theres something wrong? dont make stuff up. i asked if theyll attend international school and if so $30k wouldnt be enough. reading comp is important. nowhere does that imply what you said.
I’m planning to hit $4 million and do this exact same thing. Buy a flat in Pali Hill for ~$1 million and withdraw ~3.5% of the remaining $3 million per year going forward. ($105k per year / $85k per year after tax).
Currently 44 with $2.7 million net worth (50/50 between retirement accounts (401k/roth/hsa) and brokerage accounts. Hoping to hit $4 m in next ~4 years but that will depend on the market.
Wishing you the very best
Subject Expert
I'd be careful about my asset allocation with this plan. You have a 3% WR on a tight budget: a stock market crash early on could detail it.
Are you planning to buy or rent in India? Do you know where? Do you know what you will do with your time? Where your kid will go to school? How do your spouse and kid feel about this idea? Have the three of you been to India before?
How much extra will you save over the next two years? How much are you spending now in the USA?
Subject Expert
Probably a good idea. In some crashes specific countries and styles and sectors can suffer a lot worse than the global market.
I am in similar boat - Indian origin US citizen. Am 47 and wife 45. One boy in college and another one in 9th. We have 500K in stocks, 1.1M in 401k total and some rental properties which will be paid for in few years. Total Nw 4.5M. Want to get kids under grad done in next few years and move (or split much time) in India. Will be in tier 2 city like in UP or Karnataka (wife’s place). I think it is much doable but only issue is the distance from the kids
Subject Expert
Don't spend too much time at Brigade showings. ;)
India is smelly. Have you been there before?... I'm sure you have, but if not, visit prior to moving. Best of luck sir.
I think there are pros and cons. Again, I might experiment and be ready to change / come back to US if things dont work out after repeated attempts. In that case i would be better off working a year or two in India.
You’re thinking about this the right way, but the biggest gaps I see are around healthcare, schooling, and currency risk. 30K can go far in India, but international school and private healthcare can quickly double that. Also, relying heavily on a trading account introduces sequence of returns risk early in retirement. Might be worth stress testing this plan with a few bad market years and factoring in INR/USD fluctuations.
Completely agree. This forum gives multiple angles.
Are you an Indian citizen? In which case this is indeed very doable in a tier 2-3 city. Tier 1 cities are getting quite expensive in India.
I think some of the kids struggled there so a couple had to come back here but some found their place and so far no regrets.
You should consider it carefully
Care to elaborate?
Mentor
It's not that easy to immigrate to India based on my research and there are other countries that seem better suited for expats
Thailand. I know a few who retired to thailand in their early 40s. Ill be retiring to there within 3 years. Will be buying land soon and start the process of building a house. A friend built this 3 years ago for $24,000. Im looking at larger and with a swimming pool. around $75k.