Considering R2I Bengaluru after 30 Years, Age 56 - Can wife adjust to India?

ssman · Post by **ssman** » Tue Jun 14, 2011 7:44 pm

I'm a high tech male professional considering R2I to Bengaluru after 30 years, age 56. My company here let me go, and it will take me a while to find something comparable in this poor economy.

Reasons pro R2I if I dont find something meaningful in 6 months (got a v good severance):

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Very close bro and sis in BLR, inherirted lovely flat in prestigous area in family compound

Will be financially comfortable after sale of home in US, with over $700k equity, + lots of 401K

Hope to find work in a consulting capacity, can take risk in start up with "Success oriented" deal rather than high salary

Believe can have a less stressful, better social life.

Lingering here without job will bleed bank acc. savings, and especially health insurance.
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Biggest issues against R2I

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53 year old South Indian wife grew up here since afe 13 (40 years), with close imm family here, but who has lots of close relatives in BLR & south.

21 year old son, Sr in v. good CS program, wants to do Masters or work after May 2011. He will stay behind, but will feel loss of home for a few years.
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Just wanted to know if there were any similar experiences at my age level, particuarly in a wife's being able to adjust to a new life in India, but with all creature comforts, close family support, and also great medical support.

This may be an option we may be forced to implement from a financial perspective.

Cheers

cmk786 · Post by **cmk786** » Wed Jun 15, 2011 1:07 am

ssman - Happy to hear that you are considering to R2I after 30 years in US at the age of 56. I am also pretty much in the same situation like you. But I am planning on R2I in 2017 after I qualify to get medical coverage for me and my wife after I retire. I am 57 years old and I am in US for past 26 years. Currently working for county govt so that I will get good retirement benefits. Previously I worked for 18 years in IT. I do not have any $$ in equity or 401k in US. But the house I am presenttly living is fully paid and I bought this house for $240k 6 years ago. I also have 2 buildings in India which has 5 houses in those 2 buildings. But I am waiting to retire with medical coverage. I can retire in 2014 and will get good pension but no medical coverage. Therefore I am curious to know how you are planning for your medical coverage once you R2I. Is their any other means where we can get good alternative medical coverage in India that you know of.

ssman · Post by **ssman** » Wed Jun 15, 2011 1:52 am

cmk786 - Nope, unlike lucky you, I do not have a secure govt job to ride this out. In the event I dont land something here with medical, my COBRA will be over $2200 per month, so that itself is enough to motiovate a move. My entire family in BLR is medical-heavy, and they have assured me that they will take care of me, as they have my (deceased) parents, and many other family members. I don't have any details of medical insurance in India, and perhaps it is important to get something for catastrophic care, if not for routine. It is a gamble I may be forced to take. I also assume that there will be employment-based medical benefits in India.

After 65, Medicare still will not cover expenses abroad, but at least provides a safety net when in the US after 65. Unrtil then, I will have to take travel insurance like other Indians.

If you retire with supplemental medical coverage, will it cover permanent residence outside US?

Nice to hear from you.

cmk786 · Post by **cmk786** » Wed Jun 15, 2011 2:51 am

ssman - My father was US citizen and expired last year. He was travelling back and forth between India and US every year untill he died. He died at the age of 87 and was healthy enough to travel between India and US. He had only medicare coverage but lucky him he was hospitalised in India only once and that was only for severe fever and the bill was not enormous. So in my case I had enquired with my insurance company last year when I travelled to India if it covers when I am in India and for that matter they had mailed me some papers to be filled by attending doctor in India and the billes I was told will be reembursed to me. In my case since my only son who is a pharmacist in US and his wife is a engineer in one of the Oil company is well setteled and he will not move to India and therefore I will be travelling between the 2 countries frequently as long as I have strenghth to travell. and therefore I will not be considred as permanent resident of India.

krishnamukhi · Post by **krishnamukhi** » Thu Jun 16, 2011 12:03 am

Hi ssman,

I emigrated to US in 1998 but husband was in New York City since 1979. So when I started planning our return to India, I also had the same thoughts as you are now having for your wife. Though we are bengalees and return to Kolkata would have been our natural choice but because of excellent doctors, medical facilities and lovely weather, we decided to return to Bangalore and make this our home in India. We had no friends or relatives in Bangalore. So I had serious doubts whether my husband would be able to feel at home in Bangalore or not. Surprisingly he cribbed a little first few months but now he loves this place. Make sure you have a nice home in a good locality, a good cook, a maid at least and a chauffeur driven car. We live in an apartment complex ( people call it luxury apartment complex ), which is a gated community, with a club house, a nice swimming pool and good security arrangements. Neighbors are very nice and friendly. Have lot of activities. We go for yoga ( in the club house) and for swimming almost daily. We take vacations very often. We are enjoying a lot now. First few months it was little tough though. Doctors are excellent in Bangalore specially in hospitals like Apollo and Manipal. We have not taken any insurance here in India. Actually you don't need to. Specialist's visits costs Rs. 300 to 350 per visit at Apollo and Manipal. Instead of paying a high premium for our medical insurance here, what we have done, is to keep around 10 lakhs in fixed deposit, as our emergency medical expense. This money earns an interest income also and at the same time we do not have to pay any insurance premium. Here health insurances cover only emergencies. They do not cover doctors' visit when required as in US.

Krishnamukhi

ssman · Post by **ssman** » Sat Jun 18, 2011 3:51 am

Hi Krishnamukhi
Thanks for sharing your positive experience, sounds like a great lifestyle. May I ask how old y'all are, and if you considered working in India - maybe you don't need to? Also do you have children, 'cause that affects the equation?

I am fortunate that I have my siblings living in the same compound as my flat, which is mostly furnished with phone, internet, UPS, running kitchen with gas, etc. And my sis's spare car to use.

I agree with you re medical - I am lucky, we have 3 docs in the family, all competent and connected to the big hospitals.

My sis told me all we need for R2I is to bring our laptops!

Cheers ssman

cmk786 · Post by **cmk786** » Sat Jun 18, 2011 6:38 am

krishnamukhi - Nice to know that you and your spouse is having very happy living in Bangalore. The kind of life style that you mentioned is pretty much similer life style I am planning to enjoy once I R2I after I retire may be in october 2014. But if I retire in 2014 I will not get any medical benefits from my present job after I retire and I only get pension. Therefore I was always planning on working until 2018 to qulify for medical benifits also. But aftre hearing from you I have decided to retire in 2014 without medical benifits and put away in FD about 10 lac rupees aside just for medical emergency for me and my wife. If you do not mind can you please tell me how much monthly income I should have for me and my wife to lead a similer kind of life like you. I really appreciate it if you can give me a rough estimation based on your own experience.