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Leaving it till doesn’t make sense to me at all. I am going to cash it out, pay the penalty in the next tax year, because I feel I can earn minimum 6.9% per year if I put this amount in FD in India and way much more if in MFs

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OP - I have similar intentions; guaranteed FD of 7% is any day better than leaving money bags in a foreign land. Although US market does give diversity but not worth paying the investment firm the fees, etc.

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Yes, that’s the plan. Or invest via dad/siblings account. I suppose FD in NRE account is the best liquid investment vehicle available for NRIs - any other options?

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Get 7% return with 6-7% inflation. Thats zero return. You guys do understand real rate of return right?

smart

Thanks for the share; this certainly brings clarity. Thoughts on leaving the money there till age 59.5 or moving it the following year (since no US income)?

Yeah totally makes sense. I wish they considered our situation as hardship.

Waiting for some correction, and then would convert FDs to Indian MFs. By the way, is it legal for NRIs to invest in Indian MFs?

Yes it’s not legal, once you go there you won’t be NRI right? then you can buy for sure.

Not sure about that buddy sry.

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