$50K....is it enough?

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#76 Apr 2nd, 2008, 23:40
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#76
If it starts at 30,000 then 50,000 could be somewhere in the middle.
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#77 Apr 2nd, 2008, 23:42
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#77
So middle class starts at 30K - not upper middle?

Edit:
I know the terms middle and upper middle are arbitrary but I don't think this completely explains the wide variance.
#78 Apr 3rd, 2008, 00:35
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#78
But here is the dilemma, while the US$ continue to depreciate, Indian ruppee is appreciating. Also, the workforce appear to get 10% pay increase year over year. Unless you plan to get a job as soon as go to India, any savings that you plan to live off may not last as long as one thinks.
#79 May 2nd, 2009, 21:52
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#79
Try smaller cities like Ratnagiri in Maharashtra. You can easily live there on 10k. And eat healthy food and breath pollution free air. Schooling will be ok. No need to work really.
#80 May 3rd, 2009, 04:30
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#80

MPR 732.. did he move to India?

I wonder if mpr732 did move to India?

However, many people close to retirement in the US, are thinking about moving to India.. Even if people's private company pensions are shot, their pre-tax savings( 401K's) taken a beating in the recent stock market disaster, there is still a safety net in the Social security system( if you have worked 40 quarters) in the US. If you do not retire too early( say before 62), this social security could provide upto over $ 2000 per month for a couple.. not too shabby to retire in India, if you do not have kids educations to worry about etc... And it is( modestly) inflation adjusted.
#81 May 3rd, 2009, 19:48
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#81
... Except there is no legal way to move to or retire in India just like that, if you don't have any links to the country.

(Haven't we been over this before a few times?)
#82 May 3rd, 2009, 19:55
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#82
I am Indian citizen and I worked in the US for 7 years.
I was close to getting GC, but I gave up, as I wanted to come back to my birth place.
Do you get social security benefits, even if you are not a US citizen? If yes, if in future I go and work there for 3 more years, will it add up to total 10 years and hence 40 qtrs?
#83 May 8th, 2009, 08:58
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#83
Nautanki,

Don't know if you can draw social security benefits if you are not a permanent resident or citizen. Very unusual for someone to work 10 years in the US, without a green card, although it could be happening with expats from other countries..
#84 May 8th, 2009, 13:40
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#84

Common if you worked while attending US school for >3 Yrs.

It is common for International students (UG or PG) who worked part-time on campus or as teaching/research assistants for 3 Yrs or more to reach 40 credits before H1 expires (3 Yrs F1 + 1 Yr PT + 6 Yrs H1). I was one of them. I don't think SS benefit can be drawn w/o GC/US Citizenship. Some countries like Canada (for sure), and I think Japan also, allows you to transfer credits to their equivalent benefits.

Is there a similar benefit system in India?

Quote:
Originally Posted by Boston123 View Post Nautanki,

Don't know if you can draw social security benefits if you are not a permanent resident or citizen. Very unusual for someone to work 10 years in the US, without a green card, although it could be happening with expats from other countries..
#85 May 9th, 2009, 11:40
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#85
India does not offer social security. We are a country where corrupt and selfish politicians rule and we can't do anything about it. Just look at the infrastructure of Mumbai and you will know what I am talking about. It makes my stomach sick. If I am still alive and US is still offering social security at that time, I will take up US citizenship in my later age and work for 3 more years make 10 years up and come back to India and live off of social security payments.
#86 May 9th, 2009, 11:45
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#86
Quote:
Originally Posted by nautanki View Post India does not offer social security. We are a country where corrupt and selfish politicians rule and we can't do anything about it. Just look at the infrastructure of Mumbai and you will know what I am talking about. It makes my stomach sick. If I am still alive and US is still offering social security at that time, I will take up US citizenship in my later age and work for 3 more years make 10 years up and come back to India and live off of social security payments.
I love your devious mind. True blue Indian, never let a good opportunity pass you by.

Good on you.
#87 May 9th, 2009, 12:08
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#87
Quote:
Originally Posted by LilBoy BigTown View Post I love your devious mind. True blue Indian, never let a good opportunity pass you by.

Good on you.
Sounds desperate to me - and and at a such young age.

Totally disagree - someone needs to grow a couple of apples, if you know what I mean.

Caveat: Miles and people vary.
#88 May 9th, 2009, 12:58
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#88
Quote:
Originally Posted by AwayFromHome View Post Sounds desperate to me - and and at a such young age.

Totally disagree - someone needs to grow a couple of apples, if you know what I mean.

Caveat: Miles and people vary.
I think you took my comments too seriously.

Lighten up. IM'ers can have some fun.
#89 May 13th, 2009, 20:03
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#89
Quote:
Originally Posted by LilBoy BigTown View Post I love your devious mind. True blue Indian, never let a good opportunity pass you by.

Good on you.
Thank you
After all I am not asking for charity; I have put in my share of efforts for 7 years and if adding another 3 years gives some comfort during golden age, I sincerely won't mind it. Would you? I hope the US govt. still has funds for social security when I am ripe.
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