R2I from Melbourne,Australia - When is the right time to R2I ??
R2I from Melbourne,Australia - When is the right time to R2I ??
Well you got a logic and guess you are working towards that !! What are you here for ? Critics to prove that your logic may be wrong or general advice or gaps ?? you are the architect of your life but saying that you can consult with other to make sure your design (Plans) are correct or not :-) Let everyone why you are here ?
R2I from Melbourne,Australia - When is the right time to R2I ??
extrano;481537Well you got a logic and guess you are working towards that !! What are you here for ? Critics to prove that your logic may be wrong or general advice or gaps ?? you are the architect of your life but saying that you can consult with other to make sure your design (Plans) are correct or not :-) Let everyone why you are here ?
Yes, i am here to get critics to list any gaps that I might have missed. Yes I do understand ,every individual will have different priorities and situations, however just want to get a sense of what majority of folks thinking when it comes to right time for someone should R2I.
R2I from Melbourne,Australia - When is the right time to R2I ??
Hi Shri,
You are right that the conventionally thinking on this is to go back when you have a nice financial cushion with no outstanding debt obligations. Other factors which usually impact the timing besides financial considerations are: (1) Kid age/education (2) Dependent parents, their health situation etc.
On the question of how big the savings need to be, there is whole set of sticky threads that get created on this forum every year about this. You can read through those to know about the various factors people consider when deciding this amount. For some, it's about have an amount that generates enough interest income to substitute having to ever work at all, and for some it's enough interest income for sustenance + capital growth at the rate of inflation! and whereas for a modest few, such as you, it's enough money to fill the "gap" between monthly income and target income for a desired lifestyle.
You are right that the conventionally thinking on this is to go back when you have a nice financial cushion with no outstanding debt obligations. Other factors which usually impact the timing besides financial considerations are: (1) Kid age/education (2) Dependent parents, their health situation etc.
On the question of how big the savings need to be, there is whole set of sticky threads that get created on this forum every year about this. You can read through those to know about the various factors people consider when deciding this amount. For some, it's about have an amount that generates enough interest income to substitute having to ever work at all, and for some it's enough interest income for sustenance + capital growth at the rate of inflation! and whereas for a modest few, such as you, it's enough money to fill the "gap" between monthly income and target income for a desired lifestyle.
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R2I from Melbourne,Australia - When is the right time to R2I ??
Shri2012;481336
XYZ can expect atleast 1.2 lac salary in India . Little bit plus and minus.
Is this the expected net savings per month in India or the take home salary? If later, you have to account for the expenses in India.
R2I from Melbourne,Australia - When is the right time to R2I ??
OP,
After you do all the number crunching you will realize that whether to go back to India or not is NOT a logical/numerical decision. It is an emotional decision.
After you do all the number crunching you will realize that whether to go back to India or not is NOT a logical/numerical decision. It is an emotional decision.
R2I from Melbourne,Australia - When is the right time to R2I ??
[Quote] Life is jolly there if you are financially secure [/Quote] ... well financially secure is an open ended term and it is relative. So each person has his/her own preferences.
Based on your criteria to NOT go back to India + Logic, it looks like your financial security is :
[LIST=1]
You should be debt free (no school loan, parents loan etc) - I am assuming by now you must paid off your student loan
Have a house that's paid off - About 1Cr
Have a saving pool to generate 80k income in FD interest - With interest rate of 9% on FDs, I'd it comes to abt 1Cr
Have cash outside the saving pool to buy for a car, school admission etc - About 20L
[/LIST]
With 2L savings per month you can have about 20L per year (sometimes there may be additional expense so rounding off to 20 instead of 24). summing up #2, #3, #4 from above it is about 2.2Cr or 220L. So you will have to maintain the steady stream of saving 2L per month for about 10 yrs. Some India trips in between, some parents/inlwas trip to Aus will dwindle your savings, thus adding another year or two.
You have been in down under for 5 already, so may be you have another 5 or 6 or worst case 7 more yrs to achieve your target. By then you will be 40+, your kid will be 10+. Let's say there will be 2nd kiddo :)) ... so your expense will increase, then you will be 42+ by the time you are ready.
We don't know what will likely hit us 3 months from now, forget about 5 years later. Inflation in India could be way high, Aus to INR could be dwindling, Kid 1 has well developed friendship circle around him/her. Uprooting becomes very difficult at that time.
forget about kids, as we become older and older, we start resisting change - you will be pleasant in your comfort zone. Any change, be it in friends, food, climate, environment will likely throw you off your balance. So ask yourself this question at 40+, will you be comfortable in Blr/Hyd/Mum or any other place in India? There is going to be one or more these around you - bad roads, dust, filth, rude people, traffic congestion etc. Will you be able to tolerate that? Heck you will be close to your mid-life crisis at that point :emrosesad: ... then add these changes
Khali hath ayethe hum, khali hath jayenge ... so we could sit all day and churn the numbers. $ or INR matters to a degree, after that all that matters are your priorities in life.
My 2 cents, if you have decent savings and REALLY want to R2I, quit calculating and start planning your move.
Good luck:thup:
Based on your criteria to NOT go back to India + Logic, it looks like your financial security is :
[LIST=1]
You should be debt free (no school loan, parents loan etc) - I am assuming by now you must paid off your student loan
Have a house that's paid off - About 1Cr
Have a saving pool to generate 80k income in FD interest - With interest rate of 9% on FDs, I'd it comes to abt 1Cr
Have cash outside the saving pool to buy for a car, school admission etc - About 20L
[/LIST]
With 2L savings per month you can have about 20L per year (sometimes there may be additional expense so rounding off to 20 instead of 24). summing up #2, #3, #4 from above it is about 2.2Cr or 220L. So you will have to maintain the steady stream of saving 2L per month for about 10 yrs. Some India trips in between, some parents/inlwas trip to Aus will dwindle your savings, thus adding another year or two.
You have been in down under for 5 already, so may be you have another 5 or 6 or worst case 7 more yrs to achieve your target. By then you will be 40+, your kid will be 10+. Let's say there will be 2nd kiddo :)) ... so your expense will increase, then you will be 42+ by the time you are ready.
We don't know what will likely hit us 3 months from now, forget about 5 years later. Inflation in India could be way high, Aus to INR could be dwindling, Kid 1 has well developed friendship circle around him/her. Uprooting becomes very difficult at that time.
forget about kids, as we become older and older, we start resisting change - you will be pleasant in your comfort zone. Any change, be it in friends, food, climate, environment will likely throw you off your balance. So ask yourself this question at 40+, will you be comfortable in Blr/Hyd/Mum or any other place in India? There is going to be one or more these around you - bad roads, dust, filth, rude people, traffic congestion etc. Will you be able to tolerate that? Heck you will be close to your mid-life crisis at that point :emrosesad: ... then add these changes
Khali hath ayethe hum, khali hath jayenge ... so we could sit all day and churn the numbers. $ or INR matters to a degree, after that all that matters are your priorities in life.
My 2 cents, if you have decent savings and REALLY want to R2I, quit calculating and start planning your move.
Good luck:thup: