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Hi folks, After 5 awesome years in the bay area, I'm moving back to India. The plan is to spend time with family, learn new non-tech stuff and travel around (hoping covid eases off by summer). I have some questions about this move .Hoping folks who have made similar moves can help out with advice. 1. Most of my investments are in Vanguard & Fidelity. I plan to keep my investments in these and sell some every month, and transfer money to an Indian bank account. I checked with Vanguard and things look feasible. Are there any gotchas ? 2. I also want to keep my bank accounts (Wells fargo, chase) active. I spoke to the bank and they are fine with having a foreign address . Am I missing something. 3. I want to move back a few books and things of only sentimental value (say 6 large moving boxes) . Any advice on a relocation company and approximate costs . 4. I am close to getting my I-140 approved. I know that my employer can withdraw this after I leave. What happens is they don't withdraw it ? Does having an approved I-140 have any advantages if I want to return to the USA for work ? Thanks a lot for reading ! Cheers & enjoy
OP when did you get married and how did you convince your partner to move back with you?
Important questions
Very important question
1. If you have 2FA setup make sure either that number stays active or use GV and verify this works before you leave. 2. Same as above - no issues otherwise. 3. Unirelo / Universal relocation 4. I think it means that you can recapture the priority date if you come back.
Is it a new job in india? Or intra company transfer?
Following, have similar questions, though not planning to leave the rocket ship for at least 2-3 years. Can we maintain Robinhood, Shareworks etc also with a foreign address?
Call each of them and just ask. If they tell you that you canāt, call them again. The idiot at Chase initially told me Iād have to close my account- when I pressed her for a link to this policy, she gave me some vague answer. I didnāt believe her so I walked into a branch and talked to a banker and he told me there was no problem. The lockers would have to be given up but the accounts could stay open. Same with Wells Fargo, Fidelity, TD Ameritrade.
Did you move back?
Yep I did
OP what would u recommend for investing in usa with a goal of eventually moving back to India? Is it wise to invest visa vanguard? How do u move funds to india in case u leave usa?
You can always do wire transfers from vanguard (and other banks ) to Indian banks . Thereās some paperwork for repetitive wire transfers but itās not too much . As far as investing platforms Iāve used vanguard , fidelity and Charles Schwab. All allow international wire transfers and let you keep your account open after moving out of the Usa
OP- how about the tax implications on brokerage accounts in USA while u are in india ? Taxes on dividends and capital gains
Congrats OP, did you finally got your I-140 and PD before you left?
I got I 140 . Idk whatās PD..
Hi OP! Congrats on the brave move! Do you have any pointers or things you wish you knew earlier with respect to managing money that is in the USA etc? How are you dealing with any 401k, Roth IRAs etc? Are you able to take advantage of the no income situation?
Same question OP
I got google Fi before I left Usa and thatās helpful . Vanguard sends an OTP on that . I need to figure out if they can send it to my email or an international number . It was great that I set up wire transfer with medallion security . I plan to keep 401k invested for many more years . Iām happy with Wells Fargo for banking and fidelity,Charles Schwab, vanguard for investment accounts
Did you manage to keep your credit cards?
Can you answer what all of us want. Whatās your net worth ? And which company you heading in india ?
OP, donāt answer this and please leave everyone hanging! Letās watch the world burn š
Sure I can answer this. Net worth is roughly 1.3M . I learnt a lot from others sharing TC and if this figure helps someone decide then Iām happy. I donāt plan to work for atleast a few years in india.