Family considering moving to kolkata

#1 Jan 15th, 2009, 03:50
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  • blackout is offline
#1
Hi, I'm a student here in Canada in my final year of university and I have just returned from visiting Kolkata for the 10th time. I truly love the city and really want to move there so I can be closer to all my family. I've been trying to figure out what it cost me to live in india comfortably? The cost of living in CDN dollars is pretty low from what i saw there, and my parents do own a house there so i wouldnt have to purchase a house or rent. I've calculated that if i start investing $250/week now, i can move to india at the age of 35 and live of $10,000/year. Would this be enough for me to live off if i got married and have two kids?

I am considering proposing this idea to my parents to see if they would like to move back too. We own an apartment building and a house here and i figured we could rent those out and make $60000/year before taxes and paying for a property manager
#2 Jan 15th, 2009, 05:50
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  • webtraveller is offline
#2

Lol!!

Quote:
Originally Posted by blackout View Post Hi, I'm a student here in Canada in my final year of university and I have just returned from visiting Kolkata for the 10th time. I truly love the city and really want to move there so I can be closer to all my family. I've been trying to figure out what it cost me to live in india comfortably? The cost of living in CDN dollars is pretty low from what i saw there, and my parents do own a house there so i wouldnt have to purchase a house or rent. I've calculated that if i start investing $250/week now, i can move to india at the age of 35 and live of $10,000/year. Would this be enough for me to live off if i got married and have two kids?

I am considering proposing this idea to my parents to see if they would like to move back too. We own an apartment building and a house here and i figured we could rent those out and make $60000/year before taxes and paying for a property manager
Welcome to Indiamike !!!
what is your age now?
How many years you are going to earn?
Why you want to move? Will your future wife and kids agree?
Does not make sense.
Any way, for now 10,000 dollars/ year may be good enough. But inflation, cost of living etc in the next 12-15 years will be totally different.
A lot of factors !!.
Come back in 10 years with your plan and probably some future indiamikers (by that time we all will be promoted to financial, tourism, real estate, technology, psychology experts) will give you some piece of advice.
Until then, just travel to India and enjoy!! Or atleast you can have a very great experience at INDIAMIKE.
#3 Jan 15th, 2009, 05:57
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  • blackout is offline
#3
Haha yes it does seem ridiculous that I'd like go over to India and retire at such an early age, but why not if i can do it? I just want to see if it is realistic. I am currently 21 and will be finishing school December 2009. Saving $225-300/week for 13years doesn't seem to bad, especially once I have a spouse that is working. I might be able to even save significantly more with another income to supplement mine. If I can live out the rest of my life in comfort, then why not?
#4 Jan 15th, 2009, 07:38
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  • wonderwomanusa is offline
#4
You're assuming that prices in India won't rise as your income rises and as time goes by over the next 20 years.... and that the exchange rate will stay stable. None of those assumptions is true.

Save your money and see what things look like when you are 35; by then you may have a life that you won't want to leave.
The map is not the territory. --Alfred Korzybski
#5 Jan 21st, 2009, 05:56
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  • ChrisHayes is offline
#5
You could try investing in India until then, so you have more of a reason to come and more of a connection. Buy a house whilst they are relatively cheap and all that.
#6 Jan 21st, 2009, 06:18
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  • Haylo is offline
#6
Quote:
Originally Posted by blackout View Post Saving $225-300/week for 13years doesn't seem to bad, especially once I have a spouse that is working.
Once you have a spouse... There's nothing like confidence is there!

Joking apart, I encourage you to go for it, you simply cannot lose. If you end up saving $180,000 then change your mind, you'll have a huge lump sum to console yourself with.

As an aside, if more people saved in order to fulfil their dreams, instead of seeking instant gratification, the economy wouldn't be in the mess it's in now and nor would the environment.
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#7 Dec 19th, 2009, 01:52
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  • indianexpat is offline
#7

$500/month Enough

Hi,
Wellcome to Kolkata
I earn only $600-700/month. I live in Kolkata in a rented house. If you have your own house you can live well in about $500.

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