R2I random thoughts, need some viewpoints

[desividesh]

So, I just returned from a trip to Kerala. Was visiting after 4 years. I'm a USC and my kids are now going to the 11th grade in High School in the US. I've always thought my kids would continue on into some college in the US and I'd continue working here. But this visit has made me a little nostalgic. I'll be hitting 50 next year and work here is extremely competitive and seems like one has keep working harder every year.

I had this epiphany this week - what if I could go back to India and settle down there. I think it's quite unlikely for my kids to accept wanting to go to college in India, but right now, this is just a thought. I really don't want to go back and do IT work though. Probably something like an early retirement, sell my house here. If I make enough money, can build a house with 50 lacs and not worry about mortgage anymore! Definitely sounds appealing. I own some land on which I could build the house. Still have to figure out the details on how to get the house built, but that's the details. Next is food: it is definitely much cheaper in India and I could set up my own veg garden as a lot of people seemed to be doing. I know my parents will definitely appreciate if I return. My wife didn't like the idea at all though. Now the part about income. I have some money in my 401K which I can tap in about 7 years. Early SS could potentially be used 5 years after that. So, if I R2I in 2 years, I've to figure out a stream of income for 5 years while my kids go off to college (assuming they agree to study in India). I have about $150K which I can leverage for their college.

There is potential inheritance which could come my way as well in the next few years, about a crore or maybe two. I could put that into a FD to get some income. Also I could build a two storey house and give out upstairs for rent. Medical is something I haven't looked into yet. I would think it would be possible to purchase private insurance and plan to research that.

Pros: No rat race, no mortgage, cheaper living, cheaper college, peace of mind, known place, would feel a sense of belonging with folks around, parents happy
Cons: Have to get wife to agree, haven't discussed with kids yet, giving up regular work
Unknowns: Medical, will kids adjust?, what could possibly go wrong?, will it get boring?, will income stream work out?

Yes, it has a lot of loose ends, a lot of things have to fall in place, but I do think this is a thought that has some merit. Would love to hear some viewpoints on this.

[Desi2return]

So, I just returned from a trip to Kerala. Was visiting after 4 years. I'm a USC and my kids are now going to the 11th grade in High School in the US. I've always thought my kids would continue on into some college in the US and I'd continue working here. But this visit has made me a little nostalgic. I'll be hitting 50 next year and work here is extremely competitive and seems like one has keep working harder every year.

I had this epiphany this week - what if I could go back to India and settle down there. I think it's quite unlikely for my kids to accept wanting to go to college in India, but right now, this is just a thought. I really don't want to go back and do IT work though. Probably something like an early retirement, sell my house here. If I make enough money, can build a house with 50 lacs and not worry about mortgage anymore! Definitely sounds appealing. I own some land on which I could build the house. Still have to figure out the details on how to get the house built, but that's the details. Next is food: it is definitely much cheaper in India and I could set up my own veg garden as a lot of people seemed to be doing. I know my parents will definitely appreciate if I return. My wife didn't like the idea at all though. Now the part about income. I have some money in my 401K which I can tap in about 7 years. Early SS could potentially be used 5 years after that. So, if I R2I in 2 years, I've to figure out a stream of income for 5 years while my kids go off to college (assuming they agree to study in India). I have about $150K which I can leverage for their college.

There is potential inheritance which could come my way as well in the next few years, about a crore or maybe two. I could put that into a FD to get some income. Also I could build a two storey house and give out upstairs for rent. Medical is something I haven't looked into yet. I would think it would be possible to purchase private insurance and plan to research that.

Pros: No rat race, no mortgage, cheaper living, cheaper college, peace of mind, known place, would feel a sense of belonging with folks around, parents happy
Cons: Have to get wife to agree, haven't discussed with kids yet, giving up regular work
Unknowns: Medical, will kids adjust?, what could possibly go wrong?, will it get boring?, will income stream work out?

Yes, it has a lot of loose ends, a lot of things have to fall in place, but I do think this is a thought that has some merit. Would love to hear some viewpoints on this.

If you ask IluvHyd he will suggest you not to build anything....if you really want to test drive your plan....go to India and rent for an year or so and experience first hand....if you survive the first year you can build a house....if not return to US...at least you won't have the hassle of building and selling.

GL!

[desividesh]

Very good point. Why lock up money in building something and then deal with the hassle of selling? Would be much easier to rent. Thanks for the perspective.

[jk66333]

Kids education can be a challenge...Here in US everything is subject oriented and nowadays in india everything is Rank oriented..:wink

[vapasi1]

50 lakh for a house will get you a very basic one of about 2000 sq ft. Might have to adjust your budget depending on what kind and how big the house would be.

[ILuvHyd]

Pros: No rat race

It's in the mind. Can be achieved both in US and India. You might find more rat races in India.

[QUOTE]
cheaper living, cheaper college, peace of mind, known place, would feel a sense of belonging with folks around, parents happy

They are worth looking into. All the best.

Once again, buying Real Estate which is not very liquid and straps large sums is the last thing one should do after being certain about living at one place for a long term.

[cmk786]

Just as OP him/herself said it is a random thought which is coming out of emotions that happens for most of us when we visit India and that too after 4 years. His/her plans to R2I is after some years. Possibilities are which may even go away as the days go by. Having said that in my opinion we need to have very good savings to retire in India + very good laid out plans for any medical emergencies before the R2I.

[desividesh]

Thanks all for the different perspectives. A lot of this is currently based on emotion, but it will be interesting how this plays out in the next few months, whether this thought would grow or peter out..

[vapasi1]

Thanks all for the different perspectives. A lot of this is currently based on emotion, but it will be interesting how this plays out in the next few months, whether this thought would grow or peter out..

If it is the first time, I would bet on the latter i.e fade away.

I used to feel the same whenever I returned to US after India trips but my feeling kept growing with every India trip. So I R2Ied.

[suba]

Have to get wife to agree, haven't discussed with kids yet

That's the biggest roadblock. Unless you are a dictating husband and a father, R2I might never work out. You can visit India often to compensate for that. I did the same and I still do. I go every year and sometimes twice in a year. Strangely, lately I started wondering why I should visit so often. The nostalgia has almost gone. In one of the above posts Iluvhyd said that "rat race" was in the mind. But this feeling of nostalgia and wanting to R2I is also in the mind. And so is everything else! :)