My family (wife + 1 daughter) r2i'ed two years ago. They are comfortably settled and like it over there. My daughter is in 9th grade now, moving into 10th grade in June. I am planning to quit by job here in US and planning to join them latest by Aug-2018.
I am 46 years old and have been a single earner throughout. I have about INR 1.7Cr in savings, $330K in 401K, paid off 3BDR flat in Chennai (worth ~INR 2.0-2.2 Cr), INR 55L in real estate plots.
I am currently in a senior director level position in US. My company is totally US based and does not have any presence in India. So I have to find a new job in India. I started off in technical roles, but grew into the IT leadership ladder. I am still a technologist at heart and would prefer to get back to technical track, but my last several years have been predominantly in leadership/delivery management.
I have not been keenly searching for jobs in India, as I am longing to take a break for a few months to a year and and then get back to work. I am also considering if I should start a business on my own. Main motivation here is not get back into the corporate grind again, especially as it would be more stressful in India.
But, I am really worried about the uncertainty of taking a break or considering a business with my current financial situation.
My questions:
1) Would you consider my financial situation anywhere close to retirement at all? Though I wish it would be great not having to work any longer for money, I know that I am not close to that goal. I am looking for your feedback on this.
2) Can I afford to take a break? I can use the time to spend time with my family, pursue interests, recharge myself, re-skill as needed.
3) Should I consider venturing into business. I do not have a business idea yet, but confident that if I put my mind into it and work hard at it, I could achieve something. But again uncertainty is killing me.
4) If I should rather look for a job, what kind of jobs/roles should I be looking for with my 20+ experience in techno/domain/management ?
I would really appreciate your valuable feedback/comments/advice on my situation.
Thank you!
R2I - Should I take a break?
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Desi2return
- Posts: 157
- Joined: Fri Nov 14, 2008 1:27 am
R2I - Should I take a break?
vs16;674332My family (wife + 1 daughter) r2i'ed two years ago. They are comfortably settled and like it over there. My daughter is in 9th grade now, moving into 10th grade in June. I am planning to quit by job here in US and planning to join them latest by Aug-2018.
I am 46 years old and have been a single earner throughout. I have about INR 1.7Cr in savings, $330K in 401K, paid off 3BDR flat in Chennai (worth ~INR 2.0-2.2 Cr), INR 55L in real estate plots.
I am currently in a senior director level position in US. My company is totally US based and does not have any presence in India. So I have to find a new job in India. I started off in technical roles, but grew into the IT leadership ladder. I am still a technologist at heart and would prefer to get back to technical track, but my last several years have been predominantly in leadership/delivery management.
I have not been keenly searching for jobs in India, as I am longing to take a break for a few months to a year and and then get back to work. I am also considering if I should start a business on my own. Main motivation here is not get back into the corporate grind again, especially as it would be more stressful in India.
But, I am really worried about the uncertainty of taking a break or considering a business with my current financial situation.
My questions:
1) Would you consider my financial situation anywhere close to retirement at all? Though I wish it would be great not having to work any longer for money, I know that I am not close to that goal. I am looking for your feedback on this.
2) Can I afford to take a break? I can use the time to spend time with my family, pursue interests, recharge myself, re-skill as needed.
3) Should I consider venturing into business. I do not have a business idea yet, but confident that if I put my mind into it and work hard at it, I could achieve something. But again uncertainty is killing me.
4) If I should rather look for a job, what kind of jobs/roles should I be looking for with my 20+ experience in techno/domain/management ?
I would really appreciate your valuable feedback/comments/advice on my situation.
Thank you!
1. How much income can 1.7 C generate for you on a monthly basis? Can you live comfortably with that monthly income?
2. How long is the break? How are you planning to fund your break?
3. How will you fund your business? Don't want to sound negative but what makes you confident? Business ventures typically are money draining adventures, so unless you have something extraordinary (edge, business idea, connections, etc) how can you even survive?
4. No idea
R2I - Should I take a break?
You answered your own question about venturing into business by saying uncertainty is killing. It would be more stressful than doing a job. When you are considering retirement and pondering over your financial situation, I don't think the question of doing business fits well in that mix.
R2I - Should I take a break?
OP : Depends on how determined are you to start your business.
Finances : You have enough assets so that with good planning you can take 6 months to a year break without falling behind the curve. Unfortunately you will not be anywhere near "building business" in "few months to a year break". A more realistic plan will be at least 3 -4 years. Not doubting your capabilities just letting you know from what I see. Fortunately most of the other (so called) entrepreneurs you will meet will be what Paul Graham calls "Ramen Profitable" or equivalent would be Maggi Profitable. Which is basically enough to survive. do read this essay http://www.paulgraham.com/die.html
Age Factor : (Bangalore experience not Chennai) A lot of startup folks you will meet will be quite young (and by that I mean folks in early and mid 20's). You will have to over come a lot of inhibitions talking to them. Most of them will be technically very smart but actually quite clueless. They will be quite receptive to you because of your experience but expect lots of argument where you will feel all the time that they are not getting it. You will initially think that they are arrogant jerks but slowly you will be able to build rapport and loyalty where they will be able to understand the value you bring. Always remember respect is a two way street.
Training Institute : Don't think that while you bring up product you will be able to generate cash by offering training as that market is saturated. Everyone here is an expert :) on Neural Networking, Block Chain, Big Data, AR / VR Blah Blah Blah. Also Buzz words will not help you at all in the market the way they can in Corporate World. A simple app which offers real value is much better than big fancy cutting edge application which market doesn't need.
Freelancing / Open Source : The little money ( if any) you will be able to get by side projects is not worth the time and effort required for it. It will completely derail you from building your main product.
Service based product : Don't try to build a product with the intention of entering service market. Even excluding big Companies like TCS, there are lot of small and medium service providers and too much of politics in that area. ( Unless you already have connections and they can give you a jump start but I wouldn't really rely on connections)
Now some positives.
1. Excitement : You will actually feel like working and coding the way you did in 20's. There will be time when you will forget lunch / dinner simply because you were too absorbed working. For me that's the biggest benefit of all.
2. No need for approvals, bureaucracy, complete control of what you do. You will work much harder without the rewards but still feel good about it.
As tlv said if you are not fan of uncertainty, don't do it. Know that it may take 3-4 years and you will be working much harder than you do now and still may end up without anything to show for it. But if you defy all warnings and logic and go for it you will not regret a moment of it. Ironical I know... :)
Finances : You have enough assets so that with good planning you can take 6 months to a year break without falling behind the curve. Unfortunately you will not be anywhere near "building business" in "few months to a year break". A more realistic plan will be at least 3 -4 years. Not doubting your capabilities just letting you know from what I see. Fortunately most of the other (so called) entrepreneurs you will meet will be what Paul Graham calls "Ramen Profitable" or equivalent would be Maggi Profitable. Which is basically enough to survive. do read this essay http://www.paulgraham.com/die.html
Age Factor : (Bangalore experience not Chennai) A lot of startup folks you will meet will be quite young (and by that I mean folks in early and mid 20's). You will have to over come a lot of inhibitions talking to them. Most of them will be technically very smart but actually quite clueless. They will be quite receptive to you because of your experience but expect lots of argument where you will feel all the time that they are not getting it. You will initially think that they are arrogant jerks but slowly you will be able to build rapport and loyalty where they will be able to understand the value you bring. Always remember respect is a two way street.
Training Institute : Don't think that while you bring up product you will be able to generate cash by offering training as that market is saturated. Everyone here is an expert :) on Neural Networking, Block Chain, Big Data, AR / VR Blah Blah Blah. Also Buzz words will not help you at all in the market the way they can in Corporate World. A simple app which offers real value is much better than big fancy cutting edge application which market doesn't need.
Freelancing / Open Source : The little money ( if any) you will be able to get by side projects is not worth the time and effort required for it. It will completely derail you from building your main product.
Service based product : Don't try to build a product with the intention of entering service market. Even excluding big Companies like TCS, there are lot of small and medium service providers and too much of politics in that area. ( Unless you already have connections and they can give you a jump start but I wouldn't really rely on connections)
Now some positives.
1. Excitement : You will actually feel like working and coding the way you did in 20's. There will be time when you will forget lunch / dinner simply because you were too absorbed working. For me that's the biggest benefit of all.
2. No need for approvals, bureaucracy, complete control of what you do. You will work much harder without the rewards but still feel good about it.
As tlv said if you are not fan of uncertainty, don't do it. Know that it may take 3-4 years and you will be working much harder than you do now and still may end up without anything to show for it. But if you defy all warnings and logic and go for it you will not regret a moment of it. Ironical I know... :)
R2I - Should I take a break?
I am just guessing that you might want to keep 401K funds in USA itself. That leaves 1.7 Crores in India and you might generate about 7.5 lacs per year post tax with conservative debt instruments. This is nearly 65K per month. You don't have rental which is big plus.
Even if you own a flat, these days monthly maintenance in India is touching 10K per month in most of the cities. Don't know about your specific case. 10K per month for school fee, would leave you 45K. You are the best person to decide on whether yo can pull on with this figure until you found alternate income.
Even if you own a flat, these days monthly maintenance in India is touching 10K per month in most of the cities. Don't know about your specific case. 10K per month for school fee, would leave you 45K. You are the best person to decide on whether yo can pull on with this figure until you found alternate income.
R2I - Should I take a break?
1. Unfortunately not. You will have to push on at least until 55 years on US salary to get into a more comfortable retirement scenario.
2. I don't think so. At your age taking a break and getting back into the workforce with a new employer will be challenging to say the least.
3. A big No. I don't think you have the funds to take a chance with business. Maybe in addition to full time work will give you risk coverage incase if issues in running the business.
4. Ideally you should stay on in your US job since you are maybe 10 years away from retirement. Also will your daughter go to US for higher studies? I feel that you timing is a bit off - you could have tried this say 5 years ago.
In the end it all depends on your comfort level and sacrifices you are willing to make in your lifestyle. You are in a greater dilemma nw as your wife and daughter seem to have settled well in India and now you are going to have to make some compromise in your career, I think. Good luck!
2. I don't think so. At your age taking a break and getting back into the workforce with a new employer will be challenging to say the least.
3. A big No. I don't think you have the funds to take a chance with business. Maybe in addition to full time work will give you risk coverage incase if issues in running the business.
4. Ideally you should stay on in your US job since you are maybe 10 years away from retirement. Also will your daughter go to US for higher studies? I feel that you timing is a bit off - you could have tried this say 5 years ago.
In the end it all depends on your comfort level and sacrifices you are willing to make in your lifestyle. You are in a greater dilemma nw as your wife and daughter seem to have settled well in India and now you are going to have to make some compromise in your career, I think. Good luck!
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whatisthepoint
- Posts: 40
- Joined: Thu Jan 18, 2018 4:56 am
R2I - Should I take a break?
sureshr30;6743471. Unfortunately not. You will have to push on at least until 55 years on US salary to get into a more comfortable retirement scenario.
2. I don't think so. At your age taking a break and getting back into the workforce with a new employer will be challenging to say the least.
3. A big No. I don't think you have the funds to take a chance with business. Maybe in addition to full time work will give you risk coverage incase if issues in running the business.
4. Ideally you should stay on in your US job since you are maybe 10 years away from retirement. Also will your daughter go to US for higher studies? I feel that you timing is a bit off - you could have tried this say 5 years ago.
In the end it all depends on your comfort level and sacrifices you are willing to make in your lifestyle. You are in a greater dilemma nw as your wife and daughter seem to have settled well in India and now you are going to have to make some compromise in your career, I think. Good luck!
What is the point of life being apart from your wife and kid just because of more $$$.. I would never do it..
R2I - Should I take a break?
Agreed. His options are either to relocate to India or bring his family back to USA. Living separately is not an option.
R2I - Should I take a break?
Dwija123 - Thank you so much for such a thoughtful reply! Very insightful and informative! Special thanks for sharing the article as well! Excellent read.. saved it for future reference as well. Appreciate your guidance and suggestions. what you have noted towards the end is what is inspiring me in this direction.. Thanks again!
R2I - Should I take a break?
Dwija123;674338OP : Depends on how determined are you to start your business.
Finances : You have enough assets so that with good planning you can take 6 months to a year break without falling behind the curve. Unfortunately you will not be anywhere near "building business" in "few months to a year break". A more realistic plan will be at least 3 -4 years. Not doubting your capabilities just letting you know from what I see. Fortunately most of the other (so called) entrepreneurs you will meet will be what Paul Graham calls "Ramen Profitable" or equivalent would be Maggi Profitable. Which is basically enough to survive. do read this essay http://www.paulgraham.com/die.html
Age Factor : (Bangalore experience not Chennai) A lot of startup folks you will meet will be quite young (and by that I mean folks in early and mid 20's). You will have to over come a lot of inhibitions talking to them. Most of them will be technically very smart but actually quite clueless. They will be quite receptive to you because of your experience but expect lots of argument where you will feel all the time that they are not getting it. You will initially think that they are arrogant jerks but slowly you will be able to build rapport and loyalty where they will be able to understand the value you bring. Always remember respect is a two way street.
Training Institute : Don't think that while you bring up product you will be able to generate cash by offering training as that market is saturated. Everyone here is an expert :) on Neural Networking, Block Chain, Big Data, AR / VR Blah Blah Blah. Also Buzz words will not help you at all in the market the way they can in Corporate World. A simple app which offers real value is much better than big fancy cutting edge application which market doesn't need.
Freelancing / Open Source : The little money ( if any) you will be able to get by side projects is not worth the time and effort required for it. It will completely derail you from building your main product.
Service based product : Don't try to build a product with the intention of entering service market. Even excluding big Companies like TCS, there are lot of small and medium service providers and too much of politics in that area. ( Unless you already have connections and they can give you a jump start but I wouldn't really rely on connections)
Now some positives.
1. Excitement : You will actually feel like working and coding the way you did in 20's. There will be time when you will forget lunch / dinner simply because you were too absorbed working. For me that's the biggest benefit of all.
2. No need for approvals, bureaucracy, complete control of what you do. You will work much harder without the rewards but still feel good about it.
As tlv said if you are not fan of uncertainty, don't do it. Know that it may take 3-4 years and you will be working much harder than you do now and still may end up without anything to show for it. But if you defy all warnings and logic and go for it you will not regret a moment of it. Ironical I know... :)
Dwija123 - Thank you so much for such a thoughtful reply! Very insightful and informative! Special thanks for sharing the article as well! Excellent read.. saved it for future reference as well. Appreciate your guidance and suggestions. what you have noted towards the end is what is inspiring me in this direction.. Thanks again!