I returned to India in December 2004 with my spouse, and two kids now aged 12 and 7 - all US citizens. I held senior management positions in India and in US prior to my R2I.
Early in 2005, senior members including Desi and Bob helped me organize my AAP and I have since then implemented a plan I am comfortable with. I had made investments in real estate in the city of my return during 2003-4 which have now appreciated significantly as well.
My career had been successful, but I gave it all up in the middle of 2007 since I was tired of the corporate world, aspects of Indian work culture and the constant need to stay on my toes! What made it easy was also the fact that my assets reached a mass I am comfortable with. The needs for my kid’s education in US/India, their marriage, as well as my retirement seem to be taken care of. I have reached a point in my career where I now don’t want to work just for money. If something interesting materializes which challenges me again, I may take up active employment again. In the meanwhile I am busy enjoying life! I am busy watching my kids grow up, catching up with my spouse on things we missed doing together, watching movies I missed for years, attending concerts, and so on! I am also trying to identify a public cause with which I can identify and contribute as a volunteer.
However, someone doing all this at 40 seems to be a concept very foreign in India! Every one I interact with who comes to know of this seem to be appalled that I quit my senior management job in a company of repute. My immediate family members (parents and brother) are equally surprised by this behavior. No amount of reasoning that I believe I can maintain my lifestyle and that I can take care of my family’s needs for the rest of my/our life/lives seem to make sense to them.
Of course sometimes I do wonder whether what I had accounted for a 3% withdrawal rate would work with the rising rupee, but I guess that is something I need to keep monitoring and make any asset allocation changes.
I would love to hear from members who might be in a similar situation whether in India or in the U.S.
regards
Submarine
Dilemma - "Retired" in India
Dilemma - "Retired" in India
submarine66;63338
However, someone doing all this at 40 seems to be a concept very foreign in India!
regards
Submarine[/quote]
It is foren even in foren to retire @40. Congratulations!!!! You have done well, and it will be difficult for anyone else who is not in the same boat to relate to you....
I suggest, in addition, to identifying the charity or cause that you will be interested in, you also attempt to identify a namesake business, that you could be aligned to for the society (passive/active partner etc..). This will help reduce the explanation that you will have to come-up with for others.. and will reduce others imagination of how much you have..
Congrats again.....!!
Dilemma - "Retired" in India
Congratulations Submarine. That is what life is all about - happiness, peace and harmony.
Please keep posting. I will definitely share my R2I as it gets near.
Cheers
Nattusbs
Please keep posting. I will definitely share my R2I as it gets near.
Cheers
Nattusbs
Dilemma - "Retired" in India
Hi Submarine,
It is quite motivating to read about your decision. I am also thinking of doing the exact same thing if I ever reached that stage. I see much more positives than negatives. But of late these new thoughts have entered my mind and have put me on guard to think more about the idea of retiring earlier:
- Kids' wedding time - would the other side's parents be comfortable getting their kid married to someone whose father has not worked for a long time? (if living in India, this could be something to deal with).
- What if a) inflation becomes so high and/or b) god forbid someone in the family is hit with a major health issue that requires a lot of money,
that I am having to work after a gap of say 5 years? Would I be in a position to get a decent job if I have not done any work at all in these years?
- Father-in-law of a person I know 'retired' as soon as his daughter was married off, and was hit with a health issue and had to pay more than what his insurance covered, and had to spend a lot more on after-care medicines, etc., that now he is getting some monthly financial help from his son-in-law. Would I be comfortable to be in such a situation?
- Would the kids get the wrong idea about work and about pushing themselves to propel higher? A friend of a friend of mine started enjoying his early retirement, but his kids started asking him a lot of questions about that, that he decided to go join some job ;)
- Pay increases much higher than inflation, so the affordability for people around you may increase over time while I stay at about the same level of buying power (think new electronic toys/gadgets:).
- Would end up fighting a lot with the spouse?!
It is quite motivating to read about your decision. I am also thinking of doing the exact same thing if I ever reached that stage. I see much more positives than negatives. But of late these new thoughts have entered my mind and have put me on guard to think more about the idea of retiring earlier:
- Kids' wedding time - would the other side's parents be comfortable getting their kid married to someone whose father has not worked for a long time? (if living in India, this could be something to deal with).
- What if a) inflation becomes so high and/or b) god forbid someone in the family is hit with a major health issue that requires a lot of money,
that I am having to work after a gap of say 5 years? Would I be in a position to get a decent job if I have not done any work at all in these years?
- Father-in-law of a person I know 'retired' as soon as his daughter was married off, and was hit with a health issue and had to pay more than what his insurance covered, and had to spend a lot more on after-care medicines, etc., that now he is getting some monthly financial help from his son-in-law. Would I be comfortable to be in such a situation?
- Would the kids get the wrong idea about work and about pushing themselves to propel higher? A friend of a friend of mine started enjoying his early retirement, but his kids started asking him a lot of questions about that, that he decided to go join some job ;)
- Pay increases much higher than inflation, so the affordability for people around you may increase over time while I stay at about the same level of buying power (think new electronic toys/gadgets:).
- Would end up fighting a lot with the spouse?!
Dilemma - "Retired" in India
OP,
Somewhat similar situation, I guess... my FIL is "envious" of my retired lifestyle. :D
Non-IT business, started a few yrs ago, is on cruise control (brings in enough to live comfortably).
I have an AAP (if it can be called that) that *I'm* comfortable w/ - however unorthodox it may be.
Expansion plans of a second, but related venture put on hold due to factors not enitrely in my control... This leaves me w/ lot of free time to meddle around the house, and get in trouble w/ my 3 bosses!
I'm at crossroads (professionally) and will probably go back to IT - as an individual contibutor (don't need the stress that comes w/ responsibility/authority).
"Friends" recently expressed interest in bringing me on board w/ their venture. I declined... I won't work for free or for carrots, especially to establish/run or grow their venture, unless properly compensated.... I'm not *that* bored.
--DL
Don't be surprised if you see a man w/ this sign soon at the silk-board/Hosur road passover, in BLR - "Will code bugs, for food!"
Somewhat similar situation, I guess... my FIL is "envious" of my retired lifestyle. :D
Non-IT business, started a few yrs ago, is on cruise control (brings in enough to live comfortably).
I have an AAP (if it can be called that) that *I'm* comfortable w/ - however unorthodox it may be.
Expansion plans of a second, but related venture put on hold due to factors not enitrely in my control... This leaves me w/ lot of free time to meddle around the house, and get in trouble w/ my 3 bosses!
I'm at crossroads (professionally) and will probably go back to IT - as an individual contibutor (don't need the stress that comes w/ responsibility/authority).
"Friends" recently expressed interest in bringing me on board w/ their venture. I declined... I won't work for free or for carrots, especially to establish/run or grow their venture, unless properly compensated.... I'm not *that* bored.
--DL
Don't be surprised if you see a man w/ this sign soon at the silk-board/Hosur road passover, in BLR - "Will code bugs, for food!"
-
submarine66
- Posts: 97
- Joined: Tue Jan 16, 2007 11:08 am
Dilemma - "Retired" in India
All - great comments so far. Keep them coming.
Morega - valid thoughts. Some of these thoughts have cropped up in my mind as well, and here is how I looked at them.
#1: Too early to consider. I am sure in another 12-15 years people's outlook will change in India as well. At the end of the day, I am not going to let my children's prospective in-laws drive my life! If it matter so much I can always say I am a "Management Consultant"!
#2, #3: Hyper inflation and unforseen health factors are concerns. In case of hyper inflation in India a move back to US can be entertained. If I need to earn, I feel confident that I can any day find an individual contributor's job (may be a project manager role). It may take some time, but that is what one's network is for anyway, right?
#4: So far my kids have been relating ok, have had some questions which I have answered to the best of my abilities. They find my availability in their day to day lifes a great gift. How long that lasts, or if it is pursued differently as time goes on needs to be seen. My outlook and interaction with them has not changed, and hopefully I and my wife can continue to imbibe a good value system into them.
#5: For me this is a losing bargain anway. Obsession with material comforts has never been too high for me.
#6: Let the wife continue to run her department(s) as a house-wife. Hopefully we continue to have the same old fights only! :emteeth:
regards
Submarine
moreqa;63346Hi Submarine,
- Kids' wedding time - would the other side's parents be comfortable getting their kid married to someone whose father has not worked for a long time? (if living in India, this could be something to deal with).
- What if a) inflation becomes so high and/or b) god forbid someone in the family is hit with a major health issue that requires a lot of money,
that I am having to work after a gap of say 5 years? Would I be in a position to get a decent job if I have not done any work at all in these years?
- Father-in-law of a person I know 'retired' as soon as his daughter was married off, and was hit with a health issue and had to pay more than what his insurance covered, and had to spend a lot more on after-care medicines, etc., that now he is getting some monthly financial help from his son-in-law. Would I be comfortable to be in such a situation?
- Would the kids get the wrong idea about work and about pushing themselves to propel higher? A friend of a friend of mine started enjoying his early retirement, but his kids started asking him a lot of questions about that, that he decided to go join some job ;)
- Pay increases much higher than inflation, so the affordability for people around you may increase over time while I stay at about the same level of buying power (think new electronic toys/gadgets:).
- Would end up fighting a lot with the spouse?!
Morega - valid thoughts. Some of these thoughts have cropped up in my mind as well, and here is how I looked at them.
#1: Too early to consider. I am sure in another 12-15 years people's outlook will change in India as well. At the end of the day, I am not going to let my children's prospective in-laws drive my life! If it matter so much I can always say I am a "Management Consultant"!
#2, #3: Hyper inflation and unforseen health factors are concerns. In case of hyper inflation in India a move back to US can be entertained. If I need to earn, I feel confident that I can any day find an individual contributor's job (may be a project manager role). It may take some time, but that is what one's network is for anyway, right?
#4: So far my kids have been relating ok, have had some questions which I have answered to the best of my abilities. They find my availability in their day to day lifes a great gift. How long that lasts, or if it is pursued differently as time goes on needs to be seen. My outlook and interaction with them has not changed, and hopefully I and my wife can continue to imbibe a good value system into them.
#5: For me this is a losing bargain anway. Obsession with material comforts has never been too high for me.
#6: Let the wife continue to run her department(s) as a house-wife. Hopefully we continue to have the same old fights only! :emteeth:
regards
Submarine
-
submarine66
- Posts: 97
- Joined: Tue Jan 16, 2007 11:08 am
Dilemma - "Retired" in India
DosaiLvr;63359OP,
Somewhat similar situation, I guess... my FIL is "envious" of my retired lifestyle. :D
I'm at crossroads (professionally) and will probably go back to IT - as an individual contibutor (don't need the stress that comes w/ responsibility/authority).
"Friends" recently expressed interest in bringing me on board w/ their venture. I declined... I won't work for free or for carrots, especially to establish/run or grow their venture, unless properly compensated.
--DL
Don't be surprised if you see a man w/ this sign soon at the silk-board/Hosur road passover, in BLR - "Will code bugs, for food!"
DL - great post as usual. Good to see you in similar shoes.
My F-I-L in fact retired when he was 50 years old and this was 25 years ago! So he is one person who today appreciates and relates to me well. This has helped with my wife as well, since as a child she saw her father go through this.
I am still open to doing things that might interest me, it could be an individual contributor role or a different/intriguing management role. But as you said, I hold the same philosophy that I will not work unless properly compensated.
regards
Submarine
-
cyberabadi
- Posts: 982
- Joined: Thu Jun 07, 2007 5:03 am
Dilemma - "Retired" in India
Submarine,
I expect to be in a similar situation in a couple of years and would still be in the 30's and am curently at a stage where paycheck doesn't motivate me much anymore and I now spend hours researching possible newer challenging alternatives to keep me occupied when I R2I (obviously with some financial gain too).
My situation is as such.. although immediate family (Parents & Siblings) are aware of my thoughts and mostly welcome it.. The XYZ's that we interact on a daily basis would never understand how we can ever walkaway from that.
I have been working mostly from home for a couple of months (with my current team spread over a few locations) and my kids seem to be loving it too (seems to happen with atleast a parent not in a rush to beat the traffic).
I frankly don't have a retirement plan.. Just RE (Yes fully for now (Excl 401K)).
Njoy!
I expect to be in a similar situation in a couple of years and would still be in the 30's and am curently at a stage where paycheck doesn't motivate me much anymore and I now spend hours researching possible newer challenging alternatives to keep me occupied when I R2I (obviously with some financial gain too).
My situation is as such.. although immediate family (Parents & Siblings) are aware of my thoughts and mostly welcome it.. The XYZ's that we interact on a daily basis would never understand how we can ever walkaway from that.
I have been working mostly from home for a couple of months (with my current team spread over a few locations) and my kids seem to be loving it too (seems to happen with atleast a parent not in a rush to beat the traffic).
I frankly don't have a retirement plan.. Just RE (Yes fully for now (Excl 401K)).
Njoy!
Dilemma - "Retired" in India
MNR2I brought out a good point. For me, I identify the following as challenges if I retire
(a) How do I keep myself motivated and be productive in some activity
(b) Inflation and changing trends that diminishes the relative value of my savings
I am not worried about other aspects such as society, marriage of kids etc. If some one is not willing to marry my kid because I am retired early, the family that has that kind of outlook has not enough exposure and may not be a fit for my kid anyway.
(a) How do I keep myself motivated and be productive in some activity
(b) Inflation and changing trends that diminishes the relative value of my savings
I am not worried about other aspects such as society, marriage of kids etc. If some one is not willing to marry my kid because I am retired early, the family that has that kind of outlook has not enough exposure and may not be a fit for my kid anyway.
Dilemma - "Retired" in India
submarine,
I am in the same situation. I can easily relate to everything you wrote and your thinking. But I am in dilemma, instead of hanging my boots, I wish to run for some more time.
Instead of "declaring" now and let Pakistan bat, I like to "accumulate some more runs" as safe bet and "declare" the innings. I must confess resilience and behaviour of Indian Rupee is something forcing me to think my withdrawal factors.
Of course, even after one declare the innings, there could be surprises and one should be ready to face and solve them. But one could not grow younger. It is easier to handle them today than tomorrow.
my 2c
I am in the same situation. I can easily relate to everything you wrote and your thinking. But I am in dilemma, instead of hanging my boots, I wish to run for some more time.
Instead of "declaring" now and let Pakistan bat, I like to "accumulate some more runs" as safe bet and "declare" the innings. I must confess resilience and behaviour of Indian Rupee is something forcing me to think my withdrawal factors.
Of course, even after one declare the innings, there could be surprises and one should be ready to face and solve them. But one could not grow younger. It is easier to handle them today than tomorrow.
my 2c