1. What can you teach someone online? Tell us here!
    Dismiss Notice
  2. If someone taught you via skype, what would you want to learn? Tell us here!
    Dismiss Notice
  3. Take the 100 Days Positivity Challenge : Join Here
    Dismiss Notice

Best Investment plans, saving tips for Indians settled in America

Discussion in 'Money Matters' started by ProudIndian, May 3, 2012.

  1. ProudIndian

    ProudIndian Gold IL'ite

    Messages:
    553
    Likes Received:
    564
    Trophy Points:
    188
    Gender:
    Female
    Hello All

    I want to hear from all of you what are best investment plans, saving tips, tax saving advices for indians like us who don't have plans to go back to India in near future. Please pour your advices .
     
    Loading...

  2. SriVen

    SriVen Bronze IL'ite

    Messages:
    299
    Likes Received:
    46
    Trophy Points:
    48
    Gender:
    Female
    Just I am giving my opinion.In HDFC and ICICI NRI Fixed Deposits giving good returns.9.25%intrest rate.
     
  3. ProudIndian

    ProudIndian Gold IL'ite

    Messages:
    553
    Likes Received:
    564
    Trophy Points:
    188
    Gender:
    Female
    Thanks SriVen. If we want to make fixed deposit in Indian banks we have to convert our saving of NRI/NRO a/c into Rupees. Just in case if we want to invest in real estate in America we cannot convert rupees into dollar again right? Please advise. Thanks
     
  4. shyamalajh

    shyamalajh Gold IL'ite

    Messages:
    217
    Likes Received:
    329
    Trophy Points:
    123
    Gender:
    Female
    IMO, Invest max allowed in 401k esp, if company matching is very good, tax benefit is huge. Your investment grows tax-free. IRA-traditional is next- investment grows tax-free. Then IRA-roth, this is after tax saving, but the growth can be taken out tax-free after 5yrs wait. IRA accounts can be managed by you, so that is good-no fund-fee, etc. also when you change job, transfer 401k to IRA-rollover, so that you can manage your money. then 529 plans. but 529 plans reduce the amount the child can get in financial aid. Buy a house as early as you can. It has good tax benefits too. when buying investment property, make LLC and claim expenses. Even if trading a lot of money from brokerage account outside retirement plans, do it in a LLC name than individual account.
     
    3 people like this.
  5. ProudIndian

    ProudIndian Gold IL'ite

    Messages:
    553
    Likes Received:
    564
    Trophy Points:
    188
    Gender:
    Female
    Thank you so much. Thats very important information. Thanks again
     
  6. SriVen

    SriVen Bronze IL'ite

    Messages:
    299
    Likes Received:
    46
    Trophy Points:
    48
    Gender:
    Female
    we can convert to dollars.
     
  7. ProudIndian

    ProudIndian Gold IL'ite

    Messages:
    553
    Likes Received:
    564
    Trophy Points:
    188
    Gender:
    Female
    Thanks Sriven. Is there any charge to convert from rupees to dollars? Can we get current market rate always? I never did so far thats why I am asking.
     
  8. tparameswari

    tparameswari New IL'ite

    Messages:
    1
    Likes Received:
    1
    Trophy Points:
    3
    Gender:
    Female
    Hi

    Though banks in India like HDFC Bank might offer around 9.25% interest for 1 year deposit, you would be subjected to normal tax rate of 30.9%, thereby offering the net post-tax return of 6.39 percent p.a.

    On the other hand, if you invest in Debt Mutual Funds or Fixed Maturity Plans, you would be subjected to only 13.519% tax. Hence even if Debt Mutual Funds provide average 9.45% return, your post-tax return would be 8.17% p.a.

    Thus if you invest Rs 10 lacs in Bank FDs, you would effectively get Rs 63,917, while debt mutual funds would provide Rs 81,724 generating Rs 17,807 extra return.

    Further if you hold in debt mutual fund or in Fixed Maturity Plan for over 12 months spread across 2 financial years, you can also obtain double-indexation benefits that would make your post-tax return still more attractive.

    I would be happy to provide any further clarification as needed

    Thanks... Parameswari
     
    1 person likes this.

Share This Page