Indian Politics and Internal News

[Oscar]

That's about 3.5 Crore. @AjayGhatak with a similar package and a big stretch maybe she could park herself at the Prestige Golfshire. Not an architectural womder unfortunately but very big and barbacue, private simming pool and Golf views! to wine and dine and schmmoze boss and client!!

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But I won't go for Golfshire. I am humble man who belives in Simple Living and High Thinking so maybe Sobha City is better for me

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In her defense she is an AI data SME - brilliant gal.

 

[AjayGhatak]

Easy to explain. With 3 million USD (say about 30 crore), I can work out how you can live your whole life as an extremely rich man in India with plenty to grow left. ven if you don't have any further income. Max in UK will be 'upper middle class'

With 3 million dollars you can retire in MOST parts of the world including USA, UK, Australia etc. Put 3 million dollars in 40-60 ratio of bonds and diversified equity (divident paying ones) and you can get a return of 3-4% easily. Thats US $120K each year OR C$ 160K. Keep a buffer of 200-300K for really bad economic times and you will do fine anywhere. Heck most people in the world do not earn that much. You can get top of the line insurance etc.

Assuming you earned this over a period of time, it will be fair to say that you have a fully paid off home. So yeah, 120K per year is a very good amount to retire. Even if you earned it all at once (say lottery), you can get "rent to own" deal houses. You can get a very great place to live in US, Australia, Canada with an income of 120K each year with rent to own in over 20 years.

Problem with India is, even with massive purchasing power, its quality of living sucks big time. This is why anyone with that kind of money will be looking to move out of it.

My car- Taigun or Good mid range high end car like Skoda Slivia/ Superb

Uhhh... Most folks making good money just lease the car. That way they get to replace the car every 3-5 years.

You can get a Range Rover Evoque S lease for C$ 600 per month and C$7000 down payment right now.

Range Rover Evoque Lease & Finance Offers | Range Rover Canada

Explore Range Rover Evoque offers & take advantage of exceptional leasing and financing offers today.

www.landrover.ca

After 4 years, I will replace it with new Evoque. I will not have to deal with any kind of re-selling it. Lease will take care of it.

Thing is, You will have roads in US/UK/Canada/Australia that will be good enough to drive it.

 

[AjayGhatak]

In her defense she is an AI data SME - brilliant gal.

Actually thats a pretty standard salary in SF for a senior software eng in specific companies.

 

[Guynextdoor]

With 3 million dollars you can retire in MOST parts of the world including USA, UK, Australia etc. Put 3 million dollars in 40-60 ratio of bonds and diversified equity (divident paying ones) and you can get a return of 3-4% easily. Thats US $120K each year OR C$ 160K. Keep a buffer of 200-300K for really bad economic times and you will do fine anywhere. Heck most people in the world do not earn that much. You can get top of the line insurance etc.

Assuming you earned this over a period of time, it will be fair to say that you have a fully paid off home. So yeah, 120K per year is a very good amount to retire. Even if you earned it all at once (say lottery), you can get "rent to own" deal houses. You can get a very great place to live in US, Australia, Canada with an income of 120K each year with rent to own in over 20 years.

Problem with India is, even with massive purchasing power, its quality of living sucks big time. This is why anyone with that kind of money will be looking to move out of it.


Uhhh... Most folks making good money just lease the car. That way they get to replace the car every 3-5 years.

You can get a Range Rover Evoque S lease for C$ 600 per month and C$7000 down payment right now.

Range Rover Evoque Lease & Finance Offers | Range Rover Canada

Explore Range Rover Evoque offers & take advantage of exceptional leasing and financing offers today.

www.landrover.ca

After 4 years, I will replace it with new Evoque. I will not have to deal with any kind of re-selling it. Lease will take care of it.

Thing is, You will have roads in US/UK/Canada/Australia that will be good enough to drive it.

I didn't say 'retire'. I said 'live like a rich man'. That's the difference. even if you deploy 2/3rd of the amount you'll have life long immedeate low risk income stream through annuties and the rest of the 1/3 available for riskier investments. I target minimum 25% for my equity investments. You are going to be 'rich'- get foreign trips every month, live in mansions, even buy Benz without breaking a sweat. But why buy big cars? That's the one investment that didn't make any sense to me.

Bond returns of 3 to 4% vs annuity yeilds alone of 7% to 8% in India- good luck beating inflation. I target 20% to 25% for my equities. But even without thatnyour investment pool will be big and growing.

30K a year for a 30 lac health insurance.

And as for the rest, neither is India as bad as you are claiming and nor is it as ideal as some others. I have been to many parts of the world and asked to move to the US, Poland, Barcelona, Singapore dozens of times. I didn't leave for the same reason why so many of my colleagues didn't- it's possible to create a secure cocoon if you have some money. You get a good enough life.

 

[AjayGhatak]

I didn't say 'retire'. I said 'live like a rich man'. That's the difference. even if you deploy 2/3rd of the amount you'll have life long immedeate low risk income stream through annuties and the rest of the 1/3 available for riskier investments. I target minimum 25% for my equity investments. You are going to be 'rich'- get foreign trips every month, live in mansions, even buy Benz without breaking a sweat. But why buy big cars? That's the one investment that didn't make any sense to me.

Here is the truth. What a "rich man" has is called quality of life. That will always be better in developed countries. Period, end of the story. What a low level rich man (with 30 crores in corpus) have is available for most folks here in Canada.

Quality of life of an upper middle class person living in retirement towns like Victoria BC (there is a reason why I like living here) will always be 100x better than Bangalore. No pollution, excellent roads, clean place to live and what not.

What you are doing is trying to create a bubble of high quality life in a low standard of living in India. That bubble will ALWAYS pop every now and then. Wanna need to rush to bank? Enjoy 3 hours of traffic. Wanna see off your parents? Thats 4 hours of frustrating traffic. Wanna enjoy a nice dip in lagoon? Hope no one whistles, sneers and makes sexual innundeo at your wife. Want to really feel the speed of your car? Hope you do not get hit by a darned cow. So on and so forth.

When you look at it, even the real estate is EXTREMELY expensive in India for what you get. How much will a 10,000 sqft of lot and a 3000 sqft of home will cost in India. Even in likes of Pune, I can assure you it will cost more than what I get that here in Victoria BC. And that is before I consider anything like road quality etc. Why so? Because builder is paying and spending that to create a small village of high quality life inside a hellscape of absolute shitty infra / planning in general in the city.

When in comes to finances, here in Canada/Australia/USA governments strive to keep inflation down. Because they know they will be kicked out otherwise. So my 3-4million retain their value MUCH better.

You yourself said about "foreign trips every month". Well, if thats what you want to get a good quality of life, why not just move outside and be done with it? Why create this approximation.

And just check it out. The number of people with money moving out of India are WAY MANY MORE times than rich NRIs or PIOs moving back in India. Tells you the reality.

 

[Oscar]

They will become future business incubators, investing their resources in new ventures and scaling up through their connections. Just like China, the Indians will be minting new millionaires.

Yep -

Actually thats a pretty standard salary in SF for a senior software eng in specific companies.

In SF yes - but usually not that common for an Indian firm to offer it to work in India

 

[AjayGhatak]

Bond returns of 3 to 4% vs annuity yeilds alone of 7% to 8% in India- good luck beating inflation. I target 20% to 25% for my equities. But even without thatnyour investment pool will be big and growing.

I did not say bonds. I said Bonds + Equity in 60-40 mix and that too I said "easy" and minimum. And I did take into consideration of reinvesting half of amount back to keep up with inflation in USA/Canada etc.

Vanguard 60/40 EFTs for instance has a return of 6.8-8% average. I will keep half of it as return and invest half back into my EFTs. That preserves the value of my investment. I will keep a cushion of 200-300K in cash to ensure any shock in the market does not wipe me out.

Here is one sample portfolio made from vanguard EFTs world over. It returns 7.4% per annum over past 30 years (https://www.lazyportfolioetf.com/allocation/all-country-world-60-40/).

With the annuities you are talking about, after your death, you estate will not be left with your premiums you paid to the bank. It will all be gone. Also, inflation will bite you worse because your payouts are FIXED.

In my calculations, I already ensured that inflation is adjusted by investing about 3-4 % BACK into corpus which leaves 3-4% as income. Meaning? My income in inflation protected and will grow as prices grow.

Annuities are essentially insurance products meant to generate fixed income. They can not and do not account for inflation or your sudden need of money.

 

[AjayGhatak]

In SF yes - but usually not that common for an Indian firm to offer it to work in India

I know Stripe offers a 10% paycut to work from anywhere in USA. I guess some specific individuals can work out deals to work from anywhere in the world.

 

[Guynextdoor]

I did not say bonds. I said Bonds + Equity in 60-40 mix and that too I said "easy" and minimum. And I did take into consideration of reinvesting half of amount back to keep up with inflation in USA/Canada etc.

Vanguard 60/40 EFTs for instance has a return of 6.8-8% average. I will keep half of it as return and invest half back into my EFTs. That preserves the value of my investment. I will keep a cushion of 200-300K in cash to ensure any shock in the market does not wipe me out.

Here is one sample portfolio made from vanguard EFTs world over. It returns 7.4% per annum over past 30 years (https://www.lazyportfolioetf.com/allocation/all-country-world-60-40/).

With the annuities you are talking about, after your death, you estate will not be left with your premiums you paid to the bank. It will all be gone. Also, inflation will bite you worse because your payouts are FIXED.

In my calculations, I already ensured that inflation is adjusted by investing about 3-4 % BACK into corpus which leaves 3-4% as income. Meaning? My income in inflation protected and will grow as prices grow.

Annuities are essentially insurance products meant to generate fixed income. They can not and do not account for inflation or your sudden need of money.

Well I can't talk a guy who is hell bent on living poor so all the best to you.

BTW @AjayGhatak I wasn't talking about ETFs, but secured annuties giving 8% to 7% . Indian ETfs will be higher and as with all ETFs have higher risk than secured annuties.

As for 'bubb;e' has to pop, same can be said of all economies. Canadian economy is hardly more sophisticated than Indian ones.

 

[Devlete_Hakikate]

Are you sure its Bangalore and not Brampton ? I think the reverse brain drain is they coming to Canada

 

[AjayGhatak]

BTW @AjayGhatak I wasn't talking about ETFs, but secured annuties giving 8% to 7% . Indian ETfs will be higher and as with all ETFs have higher risk than secured annuties.

The EFT portfolio I liked to is WAY MORE diversified than Indian EFT and also has exposure to India as it is world wide. Actually, you can customize your own EFT portfolio depending up on risk profile. If I want to take more risk and more rewards, I can just take EFTs that have more exposure to developing world like India. Simple.

BTW, the annuity products typically have a minimum age of entry and are usually meant for retirement planning.

As for 'bubb;e' has to pop, same can be said of all economies. Canadian economy is hardly more sophisticated than Indian ones.

I did not say economic bubble. I said bubble of good quality of life. Like one of those gated communities. They are bubble of good living in a hellish mess. The moment you have to venture out of it, that moment your quality goes away.

 

[AjayGhatak]

Well I can't talk a guy who is hell bent on living poor so all the best to you.

Rich and poor is very subjective. In India 4 million dollars net worth is pretty rich. In Canada thats an upper middle class family with two investment properties.

 

[AjayGhatak]

Are you sure its Bangalore and not Brampton ? I think the reverse brain drain is they coming to Canada

Well when one see waiting time for EB-2 and EB-3 in USA, its pretty evident how many want to come to USA and how many want to return to India.

 

[Devlete_Hakikate]

Well when one see waiting time for EB-2 and EB-3 in USA, its pretty evident how many want to come to USA and how many want to return to India.

Is that why they are protesting everywhere on the roads to go back to India or stay in Canada? They are applying for asylums now stating their lives are in danger if they return back to India. Isnt India safe for them?

 

[GatlingGun]

Mumbai: If you're wondering why the property rates in Mumbai aren't going down, blame it on Non Residential Indians (NRIs). With the rupee falling against the dollar every day, Indians living abroad have increased their investment in the country and especially in Mumbai, meaning that the expected fall in property rates following the recent dry period in the real estate market has not materialised.

Can't buy a home in Mumbai? Blame the NRIs (ndtv.com)

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Thats 2012 article.
Thankfully in last 2 years INR has falled merely 2%. Now PIO might've been investing instead of buying properties.