Indian here, naturalized US citizen. 43 yrs old. DW is 40. Been here pretty much my entire adult life. HCOL. Tech. NW is $1.25M. 80% in 401k/RothIRA, 20% in company stock. Home worth about $1M. Have 65% equity, accelerating principal payment to payoff in ~8 yrs. (roughly by my 50th birthday). Maxing out 401K/IRA (~50K/yr) investments every year.
Hoping to retire by 55 yrs old. So about 11 yrs from now. Both kids should be out of college by then. Hoping to have ~$2M in retirement accounts by then.
At 55, our plan is to retire with 6 months in India and 6 months in the US (to assist kids). May travel a bit on the way between the 2 countries, but depends on health and funds availability. This seems like a popular "plan" for most indians I have spoken with, of same age. I wonder how practical this is...
Planning to withdraw 3% pa (of $2M) - so ~60K/yr. $5k/month. Which is at current exchange rates, about INR3,50,000. At today's rates, I expect INR 1,00,000 to be enough to live comfortably in my city of choice in India (not a tier1 city but good facilities and i have fam/friends there). With expected inflation, let's say INR 1,50,000 - so about $2K/mo. The rest ($3K/mo) for US expenses. Hoping to withdraw SS after 62 to pad this.
I do expect some inheritance (properties) in India, which may generate some income (rental). Or I might liquidate and invest it in the US markets.
Wonder how realistic the plan is. Love to hear from any others in the same boat. Thanks!
Hoping to retire by 55 yrs old. So about 11 yrs from now. Both kids should be out of college by then. Hoping to have ~$2M in retirement accounts by then.
At 55, our plan is to retire with 6 months in India and 6 months in the US (to assist kids). May travel a bit on the way between the 2 countries, but depends on health and funds availability. This seems like a popular "plan" for most indians I have spoken with, of same age. I wonder how practical this is...
Planning to withdraw 3% pa (of $2M) - so ~60K/yr. $5k/month. Which is at current exchange rates, about INR3,50,000. At today's rates, I expect INR 1,00,000 to be enough to live comfortably in my city of choice in India (not a tier1 city but good facilities and i have fam/friends there). With expected inflation, let's say INR 1,50,000 - so about $2K/mo. The rest ($3K/mo) for US expenses. Hoping to withdraw SS after 62 to pad this.
I do expect some inheritance (properties) in India, which may generate some income (rental). Or I might liquidate and invest it in the US markets.
Wonder how realistic the plan is. Love to hear from any others in the same boat. Thanks!