How much is enough?!

by Guest Wed Sep 14, 2011 2:59 pm

To settle back in India... Shocked

http://www.r2iclubforums.com/forums/showthread.php/24179-How-Much-is-Enough-for-R2I-new-thread-for-2011

by Guest Wed Sep 14, 2011 3:05 pm

omg 1-2 crores...

by Guest Wed Sep 14, 2011 3:16 pm

Tracy Whitney wrote:omg 1-2 crores...

What 1-2 cr?! There're folks who believe they'll need over 8Cr in cash/easily liquifiable assets to make the transition. Shocked

by Guest Wed Sep 14, 2011 3:27 pm

Richard Hed wrote:
Tracy Whitney wrote:omg 1-2 crores...

What 1-2 cr?! There're folks who believe they'll need over 8Cr in cash/easily liquifiable assets to make the transition.

may the Samiyar give you his vibhuti, and order you to live in the US another 25 years, and then calculate the R2I again.

by Propagandhi711 Wed Sep 14, 2011 3:46 pm

we do need feedback from uppili and his understudy with tangential commentary on declining moral standards in india, materialism, the fact that quovadis is discontinued etc etc.

by charvaka Wed Sep 14, 2011 7:55 pm

Propagandhi711 wrote:we do need feedback from uppili and his understudy with tangential commentary on declining moral standards in india, materialism, the fact that quovadis is discontinued etc etc.

We also need to know how many paisas a rupee is worth. When I was a kid, reliable sources told me it was worth 12 paisas. Is it worth less than 1 paisa now? I need answers.

by charvaka Wed Sep 14, 2011 7:58 pm

Richard Hed wrote:To settle back in India...

http://www.r2iclubforums.com/forums/showthread.php/24179-How-Much-is-Enough-for-R2I-new-thread-for-2011

The question is vague, so you get bad responses. If you go back making a salary of 0.5-1 crore a year, you don't need 1-2 crores in liquid assets for the move. If you have a place to live in that you buy while living in the US, you don't need more than a few lakhs in liquid assets to make the move.

Imagine if people in India were asked, "how much money do you need to move to the US?" You would get a rather wide range of responses, and rightly so.

by truthbetold Wed Sep 14, 2011 8:58 pm

An upper middle class living style in Hyderabad costs 1L to 1.5L per month. These number change rapidly as inflation is around 9 to 10% nowadays. If you wish generate your income through bank interest (at 10%), you need to 1 to 2 Cr. But even with that money , it is declining living style, if money is not put productive use.

What are the benefits of moving back to India assuming you have options in US or other places?

by Another Brick Thu Sep 15, 2011 1:01 am

i've always maintained my opinion that no amount of money is ever enough. even if you have a hundred crore, you will find ways to spend it all and will want more to spend. check out property prices in south mumbai and you will know that a hundred crore might not be enough to buy you an independent house.

here's food for thought. from eco times.

MUMBAI: Industrialist Sajjan Jindal's plans to acquire a three-storey bungalow - Maheshwari House - at Nepean Sea Road in south Mumbai for 400 crore .....

by Guest Thu Sep 15, 2011 5:26 am

indians in india don't know how much is enough to retire happily ever after -- what will nris calculate? inflation will make a mess of all calculations.

welcome to india! will you be dying here or would you prefer to leave now?

by Another Brick Thu Sep 15, 2011 6:56 am

Huzefa Kapasi wrote:indians in india don't know how much is enough to retire happily ever after -- what will nris calculate? inflation will make a mess of all calculations.

don't worry. RBI will come to your rescue tomorrow. tune into CNBC at around 11 AM. 25 bps hike and all problems gone only.

by Merlot Daruwala Thu Sep 15, 2011 8:21 am

Another Brick wrote:
Huzefa Kapasi wrote:indians in india don't know how much is enough to retire happily ever after -- what will nris calculate? inflation will make a mess of all calculations.

don't worry. RBI will come to your rescue tomorrow. tune into CNBC at around 11 AM. 25 bps hike and all problems gone only.

To make all problems go away, you need to get Baburao to go on a hunger strike and force parliament to adopt an anti-inflation bill.

by harharmahadev Thu Sep 15, 2011 9:31 am

We haven't had a morcha in quite a while. I like the word morcha. Sounds like a type of coffee.

by Guest Thu Sep 15, 2011 9:35 am

The people whom I have seen go back successfully, didn't first save and then move back. They work here and kept investing there. Bought a property, or book a new construction, sent money for it being build and furnished from here, saved enough in banks there, and when a comfort level was reached, THEN get retired and move there.

In case of repatriations, networked and found a job there, or went back to an existing family business, and then moved. Even in those case, many settled there living arrangements first.

by Guest Thu Sep 15, 2011 10:44 am

charvaka wrote:
Richard Hed wrote:To settle back in India...

http://www.r2iclubforums.com/forums/showthread.php/24179-How-Much-is-Enough-for-R2I-new-thread-for-2011
The question is vague, so you get bad responses. If you go back making a salary of 0.5-1 crore a year, you don't need 1-2 crores in liquid assets for the move. If you have a place to live in that you buy while living in the US, you don't need more than a few lakhs in liquid assets to make the move.

Imagine if people in India were asked, "how much money do you need to move to the US?" You would get a rather wide range of responses, and rightly so.

The question is vague and that's the beauty of it, ain't it? It's an open-ended question and at best, folks look at it from their perspective and you get plethora of different responses! Very illuminating for me...

by Propagandhi711 Thu Sep 15, 2011 10:47 am

I will be comfortable with 20 crores, 2 cars, 2 drivers and 1 mistress under 25.

by Guest Thu Sep 15, 2011 10:47 am

Tracy Whitney wrote:The people whom I have seen go back successfully, didn't first save and then move back. They work here and kept investing there. Bought a property, or book a new construction, sent money for it being build and furnished from here, saved enough in banks there, and when a comfort level was reached, THEN get retired and move there.

In case of repatriations, networked and found a job there, or went back to an existing family business, and then moved. Even in those case, many settled there living arrangements first.

Repatriation's a big word - my though process is more about how it coulld positively impact 2 v.imp things. For me.

1) Family - Extended family ko maaro goli. It's all about the need to get back before Parents are too old.
And relatively healthy.

2) Career - Still figuring this out. Working in/from India doesn't hurt careers in this global economy.
I intend to travel on work as reqd.

Yes, the living arrangements need to be taken care of. Done. Am not buying property in south of southernmost tip of Bombay anytime soon! Maybe never! We've tried to be fiscally responsible all these years so hv built up a small nestegg. Plus, I intend to work (and post on SuCH...hehe) from India anyways.

R2I is in motion. Unless some Saamiyar gives me some Vibhuti or any other earth-shattering event - then all bets are off.. Smile

by Guest Thu Sep 15, 2011 10:48 am

Propagandhi711 wrote:I will be comfortable with 20 crores, 2 cars, 2 drivers and 1 mistress under 25.

But but, what will make you REALLY comfortable? Yatch off the coast of Goa - PokerAN? Smile

by Propagandhi711 Thu Sep 15, 2011 11:01 am

no, just chicken curry on rice and a youthful nistress of not significant porportions

by indophile Thu Sep 15, 2011 11:49 am

Richard Hed wrote:To settle back in India...

[url=http://www.r2iclubforums.com/forums/showthread.php/24179-How-Much-is-Enough-for-R2I-new-thread-for-2011

http://www.r2iclubforums.com/forums/showthread.php/24179-How-Much-is-Enough-for-R2I-new-thread-for-2011[/quote[/url]]

I know a few people in NJ who went back (10 years ago) with no more than normal savings here (no crores, just a few lakhs when converted to rupees) because of some reason or other - their 6-year work visas were about to expire and no green card in sight, or they were about to get laid off from their jobs, or they had to travel long distances just to keep their jobs and could only spend weekends with their families, etc. They all got nice jobs in India and all, without exception, are doing very well (one of them is now a vice president in a major Indian software company in Bangalore). They are all leading lives that are envy to their friends who did'nt go then.

by Marathadi-Saamiyaar Thu Sep 15, 2011 12:07 pm

Richard Hed wrote:To settle back in India...

http://www.r2iclubforums.com/forums/showthread.php/24179-How-Much-is-Enough-for-R2I-new-thread-for-2011

Highly redundant:

The first calculation should be : How much you NEED

Second calculation should be: How much you will be able to get per month.

I have a house in India, and I can walk in and get a not-so-great job for $3,000/month with car (and perhaps, housemaid).

This is MORE than enough for me - not even counting anything I have here.

Then the reason I dont want to go back is bcz of the difficulties to get things done (from getting a bank "demand Draft" to be seen by a non-quota doc if necessary). Of course, DUT will claim those can be done online or rich people go to fancy pancy hospitals). As a person who likes to be in the midst of commoners and as a I person who goes by his "needs" than his "wants", the corrupt and preferential practices in India are put offs for me.

by The Absolute Zero Thu Sep 15, 2011 12:23 pm

Richard Hed wrote:To settle back in India...
http://www.r2iclubforums.com/forums/showthread.php/24179-How-Much-is-Enough-for-R2I-new-thread-for-2011

Reminds me of this story... http://en.wikipedia.org/wiki/How_Much_Land_Does_a_Man_Need%3F

by Guest Thu Sep 15, 2011 12:31 pm

Marathadi-Saamiyaar wrote:Then the reason I dont want to go back is bcz of the difficulties to get things done (from getting a bank "demand Draft" to be seen by a non-quota doc if necessary).

bank transactions are mostly rtgs now. dd/po are things of the past.

by Guest Thu Sep 15, 2011 12:44 pm

Marathadi-Saamiyaar wrote:
Richard Hed wrote:To settle back in India...

http://www.r2iclubforums.com/forums/showthread.php/24179-How-Much-is-Enough-for-R2I-new-thread-for-2011

Highly redundant:

The first calculation should be : How much you NEED

Second calculation should be: How much you will be able to get per month.

I have a house in India, and I can walk in and get a not-so-great job for $3,000/month with car (and perhaps, housemaid).

This is MORE than enough for me - not even counting anything I have here.

Then the reason I dont want to go back is bcz of the difficulties to get things done (from getting a bank "demand Draft" to be seen by a non-quota doc if necessary). Of course, DUT will claim those can be done online or rich people go to fancy pancy hospitals). As a person who likes to be in the midst of commoners and as a I person who goes by his "needs" than his "wants", the corrupt and preferential practices in India are put offs for me.

Very good points NEEDs are good enough. Also, with a paid-off-house and a "not-so-grea-job" that pays you over 3K a month - you'd be living among the commoners, yes but, you'd be considered well off rightfully Smile

I did have a funny exp @ the bank not too long ago; friend gave me a check that he inadvertently overwrote my name just a smidgen - and the teller wouldn't cash it! Everything else on the cheque (notice the spelling) was perfect. She said - no can do - until the guy's here with you. I tried to reason nicely, but she wouldn't budge. I raised a my voice; she called her senior. Same story. Then I marched into the Bank Mgr's office and explained myself calmly. He approved it immediately. Point is: it's not just about the whole NRI thing; when in India - one has to shed the whole "NRI facade" quickly. Re-calibrate once's expectations. To truly re-integrate into the Indian society it's a must.

R2I is still on.

by Guest Thu Sep 15, 2011 12:54 pm

I can never return to india... my signature is different e'timg.....

and the bank lady doesn't agree that my sign on some reliance shares or something from years ago are mine, even if I SAT infront of her, and signed on a new signature card, showed my passport, pictures, e'thing.

by Marathadi-Saamiyaar Thu Sep 15, 2011 12:55 pm

The Absolute Zero wrote:
Richard Hed wrote:To settle back in India...
http://www.r2iclubforums.com/forums/showthread.php/24179-How-Much-is-Enough-for-R2I-new-thread-for-2011

Reminds me of this story... http://en.wikipedia.org/wiki/How_Much_Land_Does_a_Man_Need%3F

I did not know there is a story like this. Because, this is exactly what I tell people. In fact, I add by saying that I even need this land only for a few hours.

by Marathadi-Saamiyaar Thu Sep 15, 2011 1:02 pm

Huzefa Kapasi wrote:
Marathadi-Saamiyaar wrote:Then the reason I dont want to go back is bcz of the difficulties to get things done (from getting a bank "demand Draft" to be seen by a non-quota doc if necessary).

bank transactions are mostly rtgs now. dd/po are things of the past.

Not quite. I had to send some Rs to a cousin for his college. It will accept only cash. So asked him to get a Demand draft for safety. It took 3 hours and phone calls from a couple of "acquaintances" to call the bank manager to get it done just before they closed mid sat afternoon. This was last month, and ironically, I still have an account and a locker - which my FIL did not know the details.

Life is different in Tier 1 and 2 cities from the rest of India.

I can go on and on with examples like these.

by The Absolute Zero Thu Sep 15, 2011 4:35 pm

Tracy Whitney wrote:I can never return to india... my signature is different e'timg.....

and the bank lady doesn't agree that my sign on some reliance shares or something from years ago are mine, even if I SAT infront of her, and signed on a new signature card, showed my passport, pictures, e'thing.

Hmmm... few weeks ago some nostalgia was with you. Should you return to desh and its glory aisa kuch. ab kya hua?

by The Absolute Zero Thu Sep 15, 2011 4:40 pm

Marathadi-Saamiyaar wrote:I can go on and on with examples like these.

Pliss to do. Me happy to hear. I like the lazy village setting where you walk in and the counter guy pulls a big 30"X45" book and checks your name, money in the bank and then turns backwards, pulls another roller out to match your signature, looks at you from where he sits, beckons you to come in and demands to know if you are the saamiyar or impersonating such and such baba! Then another one comes to your aid when all the ruckus is heard and says -"na this aadmi is gud admi. humara ghar ke saamne hai" and manager smiles grudgingly at you and says you can go. That grudge reminds you that he is parting with HIS OWN money though you think it is yours! No phones, no digital displays but someone calls "token PiFty three!" and then you go and take your Rs. 23.45 and go happily on your bicycle to sabji mandi and buy bhendi for your guests and feel like an Indiana Jones!

by Guest Thu Sep 15, 2011 4:52 pm

The Absolute Zero wrote:
Tracy Whitney wrote:I can never return to india... my signature is different e'timg.....

and the bank lady doesn't agree that my sign on some reliance shares or something from years ago are mine, even if I SAT infront of her, and signed on a new signature card, showed my passport, pictures, e'thing.

Hmmm... few weeks ago some nostalgia was with you. Should you return to desh and its glory aisa kuch. ab kya hua?

yeah, seeing the story above, I realized my own issues with banks and signatures, and hence the wondering aloud....

by Nila Thu Sep 15, 2011 6:30 pm

For an average upper middle class family with 2 kids one need around 50k INR per month. That's suffice, I guess.

I was so tempted to take that job and would've/could've/should've stayed back in desh!

Btw, it's easy to get job in desh if you have network.

by Guest Thu Sep 15, 2011 6:32 pm

Sasthi wrote:For an average upper middle class family with 2 kids one need around 50k INR per month. That's suffice, I guess.

I was so tempted to take that job and would've/could've/should've stayed back in desh!

Btw, it's easy to get job in desh if you have network.

Sasthi that toggle A text button that you see on top, toggle it to prevent double spacing.

You could have stayed in desh by yourself and the kids?

by Nila Thu Sep 15, 2011 6:35 pm

haha with my kids. I almost tempeted by son in putting him into 77 acre school.

LOL he changed his mind at the last min (all genes you know)

by harharmahadev Thu Sep 15, 2011 6:38 pm

Sasthi wrote:For an average upper middle class family with 2 kids one need around 50k INR per month. That's suffice, I guess.

I was so tempted to take that job and would've/could've/should've stayed back in desh!

Btw, it's easy to get job in desh if you have network.

WTG. I think you don't need to pay any personal tax on an income of Rs 6 lacs.

by Nila Thu Sep 15, 2011 6:40 pm

I was talking about after tax.

The min salary for an IT engineer is 12 L.

by Guest Thu Sep 15, 2011 7:30 pm

Sasthi wrote:For an average upper middle class family with 2 kids one need around 50k INR per month. That's suffice, I guess.

that sound's about right from what i gather. need to add 2-3L annually for vacation plus short trips. presuming you're quoting numbers w/o rent.

by Nila Thu Sep 15, 2011 7:39 pm

yes, that's correct. It is w/o rent.

by Marathadi-Saamiyaar Thu Sep 15, 2011 11:53 pm

Sasthi wrote:haha with my kids. I almost tempeted by son in putting him into 77 acre school.

LOL he changed his mind at the last min (all genes you know)

have an idea....

Get your hubby a job and send him to desh. You stay in the US with kids...

Saamiyaar Madam: The place that gives you the ultimate advice

by Another Brick Fri Sep 16, 2011 1:32 am

Merlot Daruwala wrote:
To make all problems go away, you need to get Baburao to go on a hunger strike and force parliament to adopt an anti-inflation bill.

on your mark, get, set, strike, light, hold, protest.

btw, i was wondering when it is that the poors in india come on to the street and start protesting against this dastardly inflation. yesterday, my wife bought a cauliflower, and it cost her 23 bucks. the size of that cauliflower shocked me because that would have been sufficient only for two folks and that too with the addition of generous amounts of aloo to it. if a poor family has 4-5 mouths to feed, imagine what kind of money they have to spend on weekly supplies. i just don't get how some people continue to survive through all this. now that petrol is expensive, it is a matter of time before LPG and Diesel become dearer and the prices will rise again.

look at the price of petrol in Apr 2010. 52 a litre and now it is 72.

http://epaper.indianexpress.com/12080/Indian-Express-Pune/16-September-2011#p=page:n=21:z=2

i think it is time for everyone, not just anna, to fast to control the inflation.

by Marathadi-Saamiyaar Fri Sep 16, 2011 1:42 am

Apparently, Modi is fasting, and so are the Gujarat Congressmen.

Perhaps, it will do all those fat gujjus some good.

I suspect that UPA is trying to raise petrol price high enough that Thatha hazare and Advani can only walk or go by a rath everywhere.

by Merlot Daruwala Fri Sep 16, 2011 2:48 am

Another Brick wrote:i think it is time for everyone, not just anna, to fast to control the inflation.

The mere act of collective fasting will bring down demand and middle-men sitting on inventories of cauliflowers will be forced to sell them at affordable rates to common man. Anna has truly shown us the way.

by Another Brick Fri Sep 16, 2011 3:10 am

Merlot Daruwala wrote:
Another Brick wrote:i think it is time for everyone, not just anna, to fast to control the inflation.

The mere act of collective fasting will bring down demand

exactly my point. a 5-day mass fast will bring the onion to its knees.

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