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  1. #1
    sirilu27 is offline Junior ILite
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    Question Investment Options for NRIs on H1B (with kids)

    Hi Friends,

    We are a family of 3 ( hubby, me n kid-just born). We are in the US with hubby consulting on H1B visa (Desi vendor holds his H1) .I am a home-maker. He applied for green card but it might take a couple of years before he gets it. We are not sure if we are going to continue staying in US or move back to India.
    We have a couple of questions:
    1)What are the investment options for our retirement - better to save in India or US?
    2)What is the best investment option for saving for kids education? Given that they might do their college studies in USA
    3)What are the various life-insurance policies in India and US? Is it good to take US policy or India policy -given that we are still unsure if we are going to settle in India or US.

    Please give me suggestions as both me and my hubby are completely unaware of investment options in India n US and which is the best choice for us.
    Thank you!


  2. #2
    archana2008's Avatar
    archana2008 is offline Gold ILite
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    Default Re: Investment Options for NRIs on H1B (with kids)

    i too need answers for those, will follow this thread :)


  3. #3
    SriVidya75's Avatar
    SriVidya75 is offline IL Hall Of Fame
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    Default Re: Investment Options for NRIs on H1B (with kids)

    Quote Originally Posted by sirilu27 View Post
    Hi Friends,

    We are a family of 3 ( hubby, me n kid-just born). We are in the US with hubby consulting on H1B visa (Desi vendor holds his H1) .I am a home-maker. He applied for green card but it might take a couple of years before he gets it. We are not sure if we are going to continue staying in US or move back to India.
    We have a couple of questions:
    1)What are the investment options for our retirement - better to save in India or US?

    Based on what is your husbands future plan to settle down...whether US or India you have to start planning ...First of all he has to get his I-140 approved atleast even before you guys confirm that you will get a GC because there are already long long lines there.

    If you are planning to settle down here in US, your husband can start an IRA on his name...also best thing is to consult a tax consultant to understand how much amount is he paying in taxes and what measures he can take to cut down on taxes...and he can invest in IRAwhich would help in some releif in taxes..however if you invest in IRA the money will be locked down till he is of retirement age...so even if you move to India, if you want that money and if youw ithdraw it early, there will be a penalthy.

    Or how about investing in some MFs or stocks or bonds which would help in cashing them out as and when you need money or when you think you got the right profit...There are several threads on financial planning and investment advices by shaishav in this forum... look at them they are worth reading


    2)What is the best investment option for saving for kids education? Given that they might do their college studies in USA

    Please do not invest on kids name unless its a savings account..if you start any 529 plan or anything though it would help you in tax savings again...but the problem is you cant use that money for any other purposes or any emergencies..you just have to wait until your kid is ready to go to college and you have to use that money only for ccollege fund...so 529 plan or saving in the name of kid is not a good idea unless you want to put aside some monthly amount on kids name in a separate joint account with kid...


    3)What are the various life-insurance policies in India and US? Is it good to take US policy or India policy -given that we are still unsure if we are going to settle in India or US.

    Usually employers are supposed to offer a group life insurance and health insurance policy for all the consultants...ask your husband to check if your employer has that facility...however if you want to take a separate life insurance policy, you can contact AARP or some other firms which are offering good monthly payment plans starting from 25$ per month...depending on what amount you want to insure for...If you are living in USA you have to take life insurance here..Indian insurance wont work here and same goes with insurance thats taken here wont work in India.(this is what I know personally)

    Please give me suggestions as both me and my hubby are completely unaware of investment options in India n US and which is the best choice for us.
    Thank you!
    Please look at the below threads which would give you idea on different investment options.

    Post all your financial planning queries here

    http://www.indusladies.com/forums/mo...education.html

    Last edited by SriVidya75; 24th December 2010 at 03:33 AM.

  4. #4
    Saje is offline New ILite
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    Default Re: Investment Options for NRIs on H1B (with kids)

    hi..
    If u r planning to invest in land.. the best place is south india. Because the rate keeps on increasing. If u really wanna invest, i can help u by finding the best piece of land for you.
    Good luck:)

    Last edited by IL_Admin; 28th December 2010 at 07:25 PM. Reason: Contact information removed.

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