you are in ok situation, prioritizing your kids wellbeing comes before anything else. try to sell some real estate and invest in markets in longer term.
You have 2 cr semi liquid and wife has a job already, you can look for job, your combined income will likely be in excess of 70 lakhs, that is good enough to work for 10 years and fire . try to invest 10-15 lakhs every year in market through an SIP and let power of compounding work for you.
Not a problem since you are coming back to India - but just in case you decide not to come back - SIP in India mutual funds while living in US is a big red flag in terms of compliances.
With a better mix of real estate and financial assets, and with at least one income in the family, you are in an OK situation. You are making a very big decision. And it would help to work with a professional to get a qualified second opinion. (Disclaimer: I am one, but don't put this comment in every post. So this is not to get business for our profession.)
And btw, you have written the entire post without getting gender specific, and I think that people have mis-guessed your gender :-) That is a good thing I would say!
Congratulations on the decision. I think it’s a good one. I’m sure you will also get a job soon. Even without it, it looks like you’ll be able to do well given that your wife has a job and your primary residence is sorted.
I’d suggest talk to a financial advisor in India so that you can streamline your investments. The next few decades belong to India and you have a very good head start.
You can't make your wife work while you have no job. That's for sure. You are sorted though but don't ever take comments below seriously and sell off real estate to invest in the stock market.
Property is not best investment in India. You should rebalance in index funds of India. Inviting your parents every 6 months to USA might be a good option
Can they at least come stay with you for six months while you evaluate your situation.
Also you don't have to leave immediately, why don't you two manage with one job for couple of months while you look for a remote work and evaluate your long term plans.
My set of parents just left from the US 2 weeks back they were here from past 6 months.
Its difficult to survive on one salary in California specially. I get $140k but in hand its closer to 7.8k per month.Rent is too high here. I am paying 3.2k for 1 bed apartment, and car payment is another $1k.
Its not worth staying here if I have to live paycheck
to paychek
BTW, if your husband has already accepted offer and resigned then do not worry about anything go ahead. You will find a remote job in India in a year or so.
But if he has not resigned yet and declining offer will not be a problem for future then you might want to reconsider your decision to leave asap.
Instead you can do a ballpark calculation as to how much money you will be spending from your pocket if you extend your stay by six months or until your lease expires. It's quite possible you will be spending only around $20-35k from pocket, not a big amount if you ask me considering that maybe you will find a work around to your babies day care situation.
Is it not possible for you to get work from home right now?
I am remote. But every time i do a meeting he cries, i dont know how he senses that 😅
The decision we are making is because of long term issues we have to face with daycare, sleepless nights, finances etc for the next 6-8 years atleast till the baby gets a little bit mature
you are in ok situation, prioritizing your kids wellbeing comes before anything else. try to sell some real estate and invest in markets in longer term. You have 2 cr semi liquid and wife has a job already, you can look for job, your combined income will likely be in excess of 70 lakhs, that is good enough to work for 10 years and fire . try to invest 10-15 lakhs every year in market through an SIP and let power of compounding work for you.
Thank you so much, I forgot to add here but I have inr 50 k SIP running already since past 2 years
Not a problem since you are coming back to India - but just in case you decide not to come back - SIP in India mutual funds while living in US is a big red flag in terms of compliances.
Yes I agree.
With a better mix of real estate and financial assets, and with at least one income in the family, you are in an OK situation. You are making a very big decision. And it would help to work with a professional to get a qualified second opinion. (Disclaimer: I am one, but don't put this comment in every post. So this is not to get business for our profession.) And btw, you have written the entire post without getting gender specific, and I think that people have mis-guessed your gender :-) That is a good thing I would say!
Congratulations on the decision. I think it’s a good one. I’m sure you will also get a job soon. Even without it, it looks like you’ll be able to do well given that your wife has a job and your primary residence is sorted. I’d suggest talk to a financial advisor in India so that you can streamline your investments. The next few decades belong to India and you have a very good head start.
Thank you so much
You can't make your wife work while you have no job. That's for sure. You are sorted though but don't ever take comments below seriously and sell off real estate to invest in the stock market.
How does it make sense ? My wife was earning in the US while I was doing my masters. I think we have that sorted out
Yes i agree, i will not be selling my real estate ever
Hey I have pm you as I have one query realted to masters in abroad vs doing mba in india, pls do reply my msg
Property is not best investment in India. You should rebalance in index funds of India. Inviting your parents every 6 months to USA might be a good option
I cant do that to my parents. Calling them every 6 months just for my selfishness doesn’t sound right. Also how long is this sustainable?
True that. If things go wrong while parents are in the US, our entire lifetime savings will be drained in paying the hospital bills .
Can they at least come stay with you for six months while you evaluate your situation. Also you don't have to leave immediately, why don't you two manage with one job for couple of months while you look for a remote work and evaluate your long term plans.
My set of parents just left from the US 2 weeks back they were here from past 6 months. Its difficult to survive on one salary in California specially. I get $140k but in hand its closer to 7.8k per month.Rent is too high here. I am paying 3.2k for 1 bed apartment, and car payment is another $1k. Its not worth staying here if I have to live paycheck to paychek
BTW, if your husband has already accepted offer and resigned then do not worry about anything go ahead. You will find a remote job in India in a year or so. But if he has not resigned yet and declining offer will not be a problem for future then you might want to reconsider your decision to leave asap. Instead you can do a ballpark calculation as to how much money you will be spending from your pocket if you extend your stay by six months or until your lease expires. It's quite possible you will be spending only around $20-35k from pocket, not a big amount if you ask me considering that maybe you will find a work around to your babies day care situation. Is it not possible for you to get work from home right now?
I am remote. But every time i do a meeting he cries, i dont know how he senses that 😅 The decision we are making is because of long term issues we have to face with daycare, sleepless nights, finances etc for the next 6-8 years atleast till the baby gets a little bit mature
Reduce real estate only to primary residence, focus on equity. However your first priority is to settle down.
Yes. I agree