rakeshji,
Nothing wrong in asking for opinions, ultimately u make your own decision taking into account wife and son.
Since your son is already working, then I dont see any need for him to be with you all the time, unless there is something else we dont know. If your ultimate goal is to settle down in Canada, then go for option 1. Though there is safety net in Canada, IMO, its hard for the older 60+ immigrants.
DIO
Quote:
Orginally posted by faisal
Quote:
Orginally posted by chandresh
Believe me, starting life in a different manner at age 53 (as in your alternative 2) will be more frustrating than not being able to live with your child all 365 days a year.
Chandresh
Chandresh is right with the right reasons.
My opinion:
I would choose alternative 1, and work for another 4-6 years, and then retire in Canada.
I would choose alternative 2 only in the case if I had a million CAD in liquid assetts.
Faisal,
Two days ago, I was attending a workshop 'sharpen your business focus'. During the workshop, the facilitator asked us to make pairs and ask each other a question - 'what do you want' and replying to it or one full minute. While my partner said everything under the sun for a great life (love, success,, money, family, friends, vacations, house, etc. etc.) when my turn came, I kept on replying in one small sentence each time he put forward the question - One Million Dollars.
After the exercise, the facilitator asked everyone what they had heard from the other, and was amused at my answer. She didn't like it (since it did not go well with her prepared script for the workshop where she wanted to fill up one page of wants, and then ask them to pick three best so that she could say how to focus), but nevertheless asked me why I had said that. I replied that I am an accountant, and have done a few calculations and feel that whatever my little needs/wants are, will be fulfilled with one million dollars - so there was no need to elaborate on my wants!
What a coincidence that you have to resonate the same feeling!
Chandresh
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Chandresh
Advice is free – lessons I charge for!!
Posts: 661
Location: in the heart of Mrs Saga
Posted on: 04-03-05 12:51:43
Location: in the heart of Mrs Saga
Posted on: 04-03-05 12:51:43
Quote:
Orginally posted by chandresh
I replied that I am an accountant, and have done a few calculations and feel that whatever my little needs/wants are, will be fulfilled with one million dollars - so there was no need to elaborate on my wants!
What a coincidence that you have to resonate the same feeling!
Chandresh
That was a smart reply. Though not an accountant, my reasoning for a million CAD is the same as yours.
The question is how many people can actually make out something from a million CAD. I've seen people who've had this much, and losing /using it all up in a few years.
Hence I would also add to my reasoning above, that having a million CAD alone is not enough, and it needs to be complemented with an appropriate spending and budgeting strategy.
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Deal With Reality or Reality Will Deal With You
Quote:
The question is how many people can actually make out something from a million CAD. I've seen people who've had this much, and losing /using it all up in a few years.
Hence I would also add to my reasoning above, that having a million CAD alone is not enough, and it needs to be complemented with an appropriate spending and budgeting strategy.
One million CAD before or after taxes? Just kidding.
If I get a million CAD (even before taxes), I will move back to India. I am not joking. Say that I have 600,000 CAD (after taxes). At the current rate, it is little more than Rs. 2 crore. That's more than enough for us to lead a good life in India.
Posts: 661
Location: in the heart of Mrs Saga
Posted on: 04-03-05 13:13:18
Location: in the heart of Mrs Saga
Posted on: 04-03-05 13:13:18
Quote:
Orginally posted by desi in ottawa
Quote:
The question is how many people can actually make out something from a million CAD. I've seen people who've had this much, and losing /using it all up in a few years.
Hence I would also add to my reasoning above, that having a million CAD alone is not enough, and it needs to be complemented with an appropriate spending and budgeting strategy.
One million CAD before or after taxes? Just kidding.
If I get a million CAD (even before taxes), I will move back to India. I am not joking. Say that I have 600,000 CAD (after taxes). At the current rate, it is little more than Rs. 2 crore. That's more than enough for us to lead a good life in India.
DIO,
I dont agree with you here in one aspect; with this money you cant buy infrastructure, security, etc. in India, to live a similiar life as in Canada.
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Deal With Reality or Reality Will Deal With You
Posts: 661
Location: in the heart of Mrs Saga
Posted on: 04-03-05 13:15:38
Location: in the heart of Mrs Saga
Posted on: 04-03-05 13:15:38
*delete* double post
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Deal With Reality or Reality Will Deal With You
Quote:
Orginally posted by desi in ottawa
If I get a million CAD (even before taxes), I will move back to India. I am not joking. Say that I have 600,000 CAD (after taxes). At the current rate, it is little more than Rs. 2 crore. That's more than enough for us to lead a good life in India.
I doubt you can - unless you want to bring down your standard of living. If you do your calculations, by taking today's expenses and inflation rate, and the money you will take from here, less you will spend in basic fixed assets (house, car), you will not have enough to retire and earn nothing for the rest of your life. However, if you have about a million, the (compounded) interest portion will be more than your expenses with inflation taken into account, and so you will (theoritically) never come down to zero. I have assumed a starting expense of INR30k per month after buying a house (furnished) and car.
Chandresh
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Chandresh
Advice is free – lessons I charge for!!
