Many NRIs would love to return to their roots once they have achieved a certain degree of financial independence. A 34-year-old NRI expresses his desire to return to India and retire early in a social media post. According to the post, he has a corpus of 4 crore, of which 2 crore is in bank accounts and 2 crore is saved for retirement.
What are his retirement plans?
He goes on to say that he would love to work part-time even when he retires. The NRI writes, “my wife doesn’t want to retire, I am sure she will get a decent job in India with her PhD. Thinking of renting a place to stay and approx monthly expenses 1-1.5lakhs. Am I falling short in funds. may be extend the retirement from 2030 to 2035.”
“Don’t do Roth investments if you plan to retire early and return to India”
For the question on if the funds are enough, netizens poured in their opinions. A user said, “It’s possible. But you have to be very strict with your budget. Put 1cr in a FD paying you approximately 5-6%. Set your budget to 1-1.5 lakh per month. Move to a lower tier city and rent for a few years. Put 3cr in a balanced stock market fund diversified into domestic and international markets. Plan to not touch this for at least 5-6 years so it can grow well and weather any market turmoil. Plan to get a job that pays at least 1 lakh per month. Between your FD and job you should be able to get by without touching your principal.”
“Don’t do Roth investments if you plan to retire early and return to India,” added another user. “It’s always good to have some running passive income either rental, or some other way,” noted a netizen. Another claimed, “People in their mid 30s realizing the American dream isnt that fancy anymore with green card wait and other uncontrollable parameters. So just go back to India, retire with savings and live in peace. Might work for some. I wont be surprised if more people start thinking like this and following this.” “4 cr is too less , you do realize you will fall sick and all this money would mean nothing,” added a user.