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Indian-origin couple wonders if $5.5 million is enough to retire in India; Netizens chip in
A young Indian couple in the US, with a net worth of $5.5 million, is contemplating relocating to India for a slower-paced life.
With uncertainty looming over the tech sector in the United States and socio-political shifts altering long-term planning for many immigrants, a young Indian couple, now in their mid-30s and living in the US for over 15 years, are seriously considering moving back to India for good. However, they are not just seeking a geographical change. The couple, parents to a young child, want to retire early and take a break from the rat race and explore life at a slower pace. They may work again someday, but on their own terms, without letting their jobs take over their lives, according to their post on Reddit.
The big question before them: how much money is enough to retire early in India and raise a child comfortably?
An Indian-origin couple's post on Reddit goes viral
A Reddit user, going by the username Secure Salt, wrote, “We are in our mid-30s and we have one small kid. We have been living in the US for about 15 years.” They added that with everything happening in theUS, they are “contemplating moving back to India”.
“We will probably take a break for some time and will find work later depending on our interests but we do not want to let it take over our lives. So, whats a good number to retire early in India and live a comfortable life while raising a child,” the Reddit user asked.
The user disclosed that their net worth is approximately $5.5 million, including a $3.6 million investment portfolio and $1.9 million in property. The user and their partner are US citizens, they revealed, who hold Overseas Citizen of India (OCI) status which gives them flexibility to reside and work in either nation.
Although the couple has a large corpus, they are not rushing into the relocation as of yet. Their primary concern is not status or salary, but how to make life more meaningful for themselves and their child.
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Redditors share their thoughts
A Redditor, who seemingly is living out of India and is also contemplating a return, said that $3 million was enough to survive in any Indian city without working for a few years, except for Delhi or Mumbai. “It depends on your lifestyle,” they concluded.
Another said there were several factors in play including the place of their residence and the lifestyle they have. The user commented that if they live in a tier two, developed city, the expenses would not exceed 75,000 INR per month and education expenses would come to 30-35,000 per month. “As a net, 2 lakhs per month would be more than sufficient if you really want a standard life,” they noted.
A third user commented that their expectation was anywhere between ₹8 crore to 12 crore, depending on their retirement age.
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A fourth user gave a breakdown of expenses and said if one wanted to live in a city like Mumbai and areas as posh as Bandra, one would need a minimum of ₹2 lakh per month, excluding rent, which is in lakhs for a two or three-BHK flat in a gated community.
“If you buy a flat 2-4CR but if you sell it or rent it in 10yrs you will make good profit. Or TAKE MY ADVICE, buy 3-4 flats in cash. You stay in 1 flat and rent other 2-3 flats. Depending on what city you in, most probably you and your kid will not have to work again if you buy correct flat and rent correctly. You CAN LIVE OFF THE RENT,” the user said.
One user seemed to be discouraging the user from moving to India. They noted, “You will have to deal with the traffic, dust, pollution, corruption, law & order issues, heat and water shortages.”
While the original poster agreed, they said at least they would not worry about losing their visa status and take a breather, which they cannot do in the US. “Trust me. Coming back to India was my worst nightmare a few years ago and now when I take a hard look I can see how ridiculous the thought was,” the Redditor added.
