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Saving for Retirement   imaa   07/31/2019 09:38 AM  
We desis talk about savings per month, but no one talks about retirement savings. I am just curious to see if people do save for retirement and if so, what kind of account and how much ?

For example I save via my employer 401K and so does my wife. We try to put in the max allowed by IRS.

This god be a good education thread for folks who want to save for retirement?



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Re: Saving for Retirement   desi   07/31/2019 12:56 PM  
How to open a 401K?

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Re: Saving for Retirement   CT Babu   07/31/2019 03:02 PM  
Imaa you and your wife both are working, instead of saving for retirement in those funds it would be advice you buy land and sell at last( 50% in retirement 50% on land), you will double on Land for sure than retirement.

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Re: Re: Saving for Retirement   TO_CTbabu   07/31/2019 03:11 PM  
Is just buying land good strategy? If so, where to buy - in India or in US. Also, if you buy in India how to bring money back if you want to retire in US?

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Re: Re: Re: Saving for Retirement   AK   07/31/2019 03:55 PM  
Really good questions. Look forward to hearing from people with experience and knowledge.

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Re: Re: Re: Re: Saving for Retirement   Bhavik   07/31/2019 05:54 PM  
Anything it goes to next generation has big taxes here in usa.. 30% on top of ur paid taxes. Consider that. Land is better to buy in india if appreciation can be seen

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Re: Re: Re: Re: Re: Saving for Retirement   ctdesi   07/31/2019 08:51 PM  
Its risky to buy land/flat in India. There should be someone close to take care of that else be prepared to confront any land mafia.

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Re: Re: Re: Re: Re: Re: Saving for Retirement   Ct babu   07/31/2019 09:15 PM  
Now everything is legalized so easy to buy ..invest govt land so no ine cant occupy if not buy house with land more safer.

There are 100 people waiting for dollars you can always bring in many ways not a big deal.

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Re: Re: Re: Re: Re: Re: Re: Saving for Retirement   AK   07/31/2019 09:20 PM  
Can you please tell at least a couple of the hundreds ways to bring money back to USA? Provided they are legal.

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Re: Re: Re: Re: Re: Re: Re: Re: Saving for Retirement   desi   07/31/2019 09:50 PM  
Have fun, enjoy life! dont save too much

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Re: Re: Re: Re: Re: Re: Re: Re: Saving for Retirement   NRE   08/01/2019 07:30 AM  
You can open an NRE account and then get money transferred to any us Bank. There will be a fee/govt,exchange etc. to pay but it does work

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Re: Re: Re: Re: Re: Re: Re: Re: Re: Saving for Retirement   helper   08/01/2019 10:03 AM  
Can someone please think other than buying land? That is all we Indian's are told - buy land it will appreciate. But we are in US now, we need to think differently. Buying and holding land is the best - but that is old way of thinking. Buying and selling land has its hassles and risk. Moreover if you need the money immediately its not easy. Yes, you should buy land but that should not be the sole option.

If someone had invested $10000 and bought S&P index fund in Jul, 2009 - in 10 years it would have easily doubled - leave it for another 10 years - it doubles again so 10 K becomes 20K become 40 K which become 80K in 30 years ! That is the wonder of compounding - will land double every 10 years or so?

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Re: Saving for Retirement   RJ   08/01/2019 10:04 AM  
401 is great but it is what you have in it that matters most. 401's are just vehicles.

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Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Saving for Retirement   helper   08/01/2019 10:07 AM  
Another issue with land is he value of Indian Rupee depreciates as well - so even though in India the money has doubled it is not so if you being it back to US as the US-RS depreciation will bring the value down. If you want to build wealth invest in a variety (diversified) of ways. Keep investing over a period of time in low cost index funds and money will grow and compound - the more time you give the bigger the gains.

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Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Saving for Retirement   wtf   08/02/2019 09:19 AM  
So no one saving or thinking of retirement it seems? Only thinking of present and buying land ?

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Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Saving for Retirement   AK   08/02/2019 09:40 AM  
Or maybe they don’t want to share their wisdom... I am looking for the answers too

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Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Saving for Retirement   Ramesh   08/02/2019 11:38 AM  
khao pio , aish karo, kya rkha hai, chhoto zindagi hai

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Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Saving for Retirement   tmkc   08/02/2019 11:42 AM  
ramesh ji aap kaheiyein pein aur aish karein - old age mein jab zarorat padegi tab bachon ke aage haath faila dena - bache hoti kis liye hain - right?

Ullu sala...BC

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