| Author | Message | ||
     Scrabble Junior Artist Username: Scrabble Post Number: 197 Registered: 11-2010 Posted From: 24.197.213.180 Rating: N/A |
Personal experience tho chepthunna. If you have kids and if you are really planning to settle in US, keep the money here in US even though the investment options are slim. If you want to support your parents/family members in India, you can send money through money transfer sites like Xoom with few clicks on phone when ever they need. Do not send all your earnings to India, future lo chala problems face cheyalsi vuntundi to get that money back to your account. Just numbers cheppukovatame tappa avasaram ayinappudu you don't get money. ee advice chala mandiki nachadu, but that is the fact. | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 87 Registered: 02-2011 Posted From: 82.132.218.109 Rating: N/A |
I am married with two kids. I am not saying house has doubled. With 40k invested into a house, ofcourse with mortgage. Now the house price is increased by 60k. Deducting 20k taxes and maintenance etc got 40k in two years. I have rented that until now. | ||
| Rajusk Legend Username: Rajusk Post Number: 37068 Registered: 02-2008 Posted From: 170.74.56.80 Rating: N/A |
ae city lo thammud | ||
| Gotcha Megastar Username: Gotcha Post Number: 20276 Registered: 02-2008 Posted From: 50.179.11.96 Rating: N/A |
Mukunda U r not married yet right? This Andhra real estate is for sale. | ||
| Pulpfiction Legend Username: Pulpfiction Post Number: 36927 Registered: 02-2009 Posted From: 49.206.173.210 Rating: N/A |
'asalu' eggodithey pooccheeee nuvvisthaaavaaaa raajaaa | ||
| Rusthum Junior Artist Username: Rusthum Post Number: 125 Registered: 04-2015 Posted From: 69.195.35.1 Rating: N/A |
Annai, land konadam kadu.. investment and purpose rendu serve avvali ante.. oka apartment or independent house koni rent ivvandi.. aa rent valla account ki divert cheyandi.. tax kattakkarla.. tax benefits.. investments.. parents ki money.. anni solve avthay.. 20-25 kanna ekkuvavachu.. but u will get NRI loan.. | ||
| Gandhiguevara Legend Username: Gandhiguevara Post Number: 52329 Registered: 10-2009 Posted From: 172.250.25.143 Rating: N/A |
2 Rs vaddi ki ivvu...25 lakhs meedha 50K every month vasthundhi | ||
| Andhrawala Legend Username: Andhrawala Post Number: 39717 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
10% interest ante yearly 5 lakhs meedha 50K so omnthly approx 4K vasthundhii No Signature | ||
| Chantichanti Comedian Username: Chantichanti Post Number: 1213 Registered: 08-2008 Posted From: 205.204.248.70 Rating: N/A |
Post office lo dad and naa peru meeda oka account theesukuni oka 5L vesanu anukondi, monthly entha vastundi intrest | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 86 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
yes . we do have relatives in VJA , they can comfortable go there. Now they are reluctant to move .If they had to move, then I would arrange that. They too might change then . | ||
| Gotcha Megastar Username: Gotcha Post Number: 20267 Registered: 02-2008 Posted From: 50.179.11.96 Rating: N/A |
do u have any one in vja so ur parents can comfortably go whenever they visit doctors. u have to think long term not short term. my best bet try for an apartment or something in vja where hospitals are close and for now u can rent it since they like in village but in future they might need it This Andhra real estate is for sale. | ||
| Lolligadu Side Hero Username: Lolligadu Post Number: 8183 Registered: 09-2012 Posted From: 117.201.216.218 Rating: N/A |
mee parent ki edi happyness isthundo neeku telise untadi kada unkl. ban Krishna_jilla for being a TT | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 85 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
Maadhi VJA daggre. Already aa prayatnalu ayyayi . They are very happy to be in village than in city because they have very cordial relations in our village. | ||
| Lolligadu Side Hero Username: Lolligadu Post Number: 8182 Registered: 09-2012 Posted From: 117.201.216.218 Rating: N/A |
nenu chala mandini choosa annai. you have a point here. ban Krishna_jilla for being a TT | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 84 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
I dont mind whoever gets it but problem is for them it of no value! It does not increase their comfort. If I have that money, I too can invest that money here and make it double in 3-4 years.I have already invested in one property here and after deducting mortgage value, it is almost double the value of my investment in two years. But how long do we do this ? As long as we make investments, we have make compromises on life. | ||
| Gotcha Megastar Username: Gotcha Post Number: 20266 Registered: 02-2008 Posted From: 8.19.193.14 Rating: N/A |
meedi ee area cheppu daani batti chebuta. if u r in krishna dt around vja, better buy something in vja as once they keep getting old they have to come quite often to vja for health issues. idi chala common ayindi so better buy something for them in vja only. This Andhra real estate is for sale. | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 83 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
You got the wheel | ||
| Andhrawala Legend Username: Andhrawala Post Number: 39704 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
yee voorloo idhi. Numbers are not adding up No Signature | ||
| Zamindar Side Hero Username: Zamindar Post Number: 7494 Registered: 10-2013 Posted From: 209.208.247.4 Rating: N/A |
typical village lo parents ...endukura idi antha madi kaku saripothundi nuwu light tesko bidda neku bollu karchulu vunnai ilati emi cheyaku ani oka claass pekuthunaru battery dischargge iepoddi | ||
| Gotcha Megastar Username: Gotcha Post Number: 20265 Registered: 02-2008 Posted From: 8.19.193.14 Rating: N/A |
annai money parents kiste godavalu vastayi future lo. what will happen is father will invest the money in some real estate suppose that acre grows a lot, now mukunda has a sister or brother who is india. father will think some point in future it is me who invested and give this land to my other son or daughter and just pay back the initial amount to mukunda. chala cases lo chusa happening. remember RE lo growth ni andaru tama telivetelau valla perigayi anukuntaru no matter what, even if it was market which was growing. This Andhra real estate is for sale. | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 82 Registered: 02-2011 Posted From: 62.232.92.61 Rating: |
May be this is not the case with parents who are retired from employment if they get pension. As my father is a farmer and needs bit supplemental income, I thought of this. Thank you for every one your input . I will go with Andhra Bank ( Local). That does not mean I dont support them after this arrangement. Touchwood, As long as I have my regular income, I would support them to my capacity. This is just caution. After visiting India last year , I noticed that monthly expenses in India are costing a fortune these days. With time, it just increases the burden on middle class, esp senior citizens. My father is good hearted person, he always tries to help others in deed. That always blesses me and he too would have bit of financial freedom for himself or his deeds. | ||
| Lolligadu Side Hero Username: Lolligadu Post Number: 8180 Registered: 09-2012 Posted From: 117.201.216.218 Rating: N/A |
If i am in your shoes unkl i would give them the money and just let it be. They wont squander it. Judging by your posts you and your parents share a very cordial relationship. It doesnt matter even they screw up, after all you wanna keep them happy right? Let them be independent on both financial and dconclusion fronts too... well one more point you said that you fear for their future in case if anything bad happens to you. money will be their least of their wants in that case. Dont ponder much about it. Give them the money, indulge them into a discussion where to invest it. That would bring more smiles and happiness than the actual money. my 2 paisal. ban Krishna_jilla for being a TT | ||
| Zamindar Side Hero Username: Zamindar Post Number: 7493 Registered: 10-2013 Posted From: 209.208.247.4 Rating: N/A |
40 lakhs apt 5k rent 1cr apt 10k rent ante .. | ||
| Andhrawala Legend Username: Andhrawala Post Number: 39693 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
10K rent vache apartment ki Rs 1cr endhuku thammi.30-40 lakhs saaluu mee kitna district too much 10K apartment for 1cr antee But for supplemental income of 10K he can deposit 15 lakhs and bindaaz vundocchuu No Signature | ||
| Rgb Comedian Username: Rgb Post Number: 1232 Registered: 06-2014 Posted From: 162.115.236.102 Rating: N/A |
same effect can be achieved by staggering FDs. So 5lks vunte Invest in 1 year, 2 yr, 3r, 4yr and 5yr FD. Once 1 yr FD matures, put the principal again for 5 yrs. Repeat every year Idhi ikkada chaala mandhi chesevaru when rates were 5%+. 0% tho no choice  | ||
| Optionsgenius Junior Artist Username: Optionsgenius Post Number: 207 Registered: 12-2014 Posted From: 24.6.116.100 Rating: N/A |
good thread. 600$ per month chala baga pampisthunatlu, 2-3 kodukulu undi kooda US lo aa mathram vellavu few cases lo.good job. add your dad as joint account holder to ur NRI account. just vallaki avasaram unnpudu valley draw chesukontaru.they will be very satisfied with that gesture. | ||
| Zamindar Side Hero Username: Zamindar Post Number: 7492 Registered: 10-2013 Posted From: 209.208.247.4 Rating: N/A |
vallu vundedi village lo monthly oka 5 to 10 k chala yekkuva ante oka 10 lakhs to 20 lakhs deposit chesthey saripothundi ye cost lo appt ekkada vasthai 10k monthly rent vachevi alteast 1cr vundi and town ki elli malli avai ani choskovali extra burden less income most investiment | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 80 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
ofcourse my father still earns money by farming. He can never be passive. This is just a supplement for his regular income so that they can not bother about regular monthly expenses. If I buy another property worth 25 lacs or so, monthly pay out would be less ( rent). Also it is another burden for them to look after tenants and building maintenance. My father can never be passive but this is just a s | ||
| Linkmaster Legend Username: Linkmaster Post Number: 46437 Registered: 02-2008 Posted From: 149.128.8.245 Rating: N/A |
GOT you Mukunda.. I thought you will leave them there.. I feel buy a property which generates money and let them enjoy it.. Fixed deposit does not give them kick.. One apartment gives them as owner feeling and money generation. They enjoy it.. 60 years is not consider as old. Let them active financier than passive enjoyer .. You must be knowing what fields, activities he can enjoy.. put your investment there rather giving life to banks | ||
| Andhrawala Legend Username: Andhrawala Post Number: 39691 Registered: 03-2008 Posted From: 152.51.56.1 Rating: |
aynakai kavaalsindhi FD kaadhu. Monthly income os say 10K or so also Mukunda take soem Health insurance policy so that it covers hospitalization expenses etc. Andhra Bank lo adagamanu. They have soem Group Health pokcy coverage for 2 or 4 lakhs per year No Signature | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 78 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
Yes, I too think local bank is better irrespective of interest and tax rate. | ||
| Andhrawala Legend Username: Andhrawala Post Number: 39690 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
Mukunda bank accoun is the best then. Post office lo Monthly income scheme lo max is 2 laksh per heard. so mom perna 2 lakhs and dad perna 2 lekahs veyyocchu No Signature | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 77 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
My parents need money for their maintenance . we are just middle class. Think of the worst happened to me. Still they can have financial freedom in their life and manage happily as we do plan for our kids with Life Insurance. | ||
| Rgb Comedian Username: Rgb Post Number: 1231 Registered: 06-2014 Posted From: 162.115.236.102 Rating: N/A |
Fixed deposit senitor citizens ki 9.5% andhra Bank lo. | ||
| Zamindar Side Hero Username: Zamindar Post Number: 7490 Registered: 10-2013 Posted From: 209.208.247.4 Rating: |
local bank lo fixed depost cheseyee 1% or 2% ato itu enni vethikina policies lo pedda difference emi vundadu... parents feel happy and comfortable easy access to local bank and bankmanager pedda depositer ki iche respect vuntunde adi worth more than money for parents... esee nuwuu ... ni thread nannu koda alochipa chesindi ... THanks | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 76 Registered: 02-2011 Posted From: 62.232.92.61 Rating: |
I am not talking about general independence. I am talking about bit of financial independence. currently I am sending 600 usd to them every month. As our financial situations change from time to time ( contracting jobs etc and other commitments over here), sometimes we find it difficult to send them money.
Of-course, Out of love for them, I am doing this. This is another task for me to arrange those 20-25 lacs for them for fixed deposit. It will take two or three years for me to arrange this. As I plan for my retirement after 60 years, I am also planning retirement for my parents ( This is financial retirement). If I give lump-sum amount they would buy a land or something else. They wont enjoy it. If they get fixed income like this, they would use it for themselves like we do. When we have more money in our pocket , we wont mind going for little extra luxury. If we have too much money, we will think of investment which will curb our enjoyment I can understand your concern. Thnaks for it. | ||
| Linkmaster Legend Username: Linkmaster Post Number: 46434 Registered: 02-2008 Posted From: 149.128.8.245 Rating: N/A |
why you want to make them independent ?.. why?.. do they are not independent ? you want to give independence?. when you spend monthly for you/your family, can not spend same to your parents? edo kontha money esi chethulu dulupu kondaamu anukontunnavaa?... I wish give them handsome money with love.. give them whenever they need .. Give them whatever they want upto your capacity.. Old age homes etu thappavu.. kaneesam elanti effort leni ee panikuda love tho cheyandi vayya... sorry, If i misunderstand or understand corect but hurt you... | ||
| Pidugu Junior Artist Username: Pidugu Post Number: 238 Registered: 12-2009 Posted From: 49.205.60.94 Rating: N/A |
http://freefincal.com/advantages-of-debt-funds-over-fixed-de posits-calculate-and-assess/ | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 74 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
Thanks RGB and Pidugu. I will enquire them. Banks are near by ( less than 8kms distance) Andhra bank is just 500 yards. | ||
| Rgb Comedian Username: Rgb Post Number: 1216 Registered: 06-2014 Posted From: 162.115.236.102 Rating: N/A |
They can deposit to bank account. So bank vunte chaalu | ||
| Pidugu Junior Artist Username: Pidugu Post Number: 237 Registered: 12-2009 Posted From: 49.205.60.94 Rating: N/A |
Mukunda, look at debt income funds at valueresearchonline.com | ||
| Rgb Comedian Username: Rgb Post Number: 1215 Registered: 06-2014 Posted From: 162.115.236.102 Rating: N/A |
LIC highest interest ani vinna | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 73 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
Yes own house vundhi also polalu vunnayi. | ||
| Andhrawala Legend Username: Andhrawala Post Number: 39668 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
Monthly Income kaithe Post office scheme or Bank deposit on Senior citizen name best Village lo own house vundhaa and polaalu etc. No Signature | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 72 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
Yes. It is not living a luxurious life. Just a good maintenance for them. If we put it on land or agriculture land it can be again a long term plan. My father is now 61 so any long term plans are not good for him. It also can be emergency fund ( Liquid cash) too for them. I have no idea about mutual funds. I will google it. Thanks. Being in a village, banks and post office are closer to them. So I dont know how good these mutual funds are for them/ | ||
| Andhrawala Legend Username: Andhrawala Post Number: 39664 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
Mukunda, also u can think of ANdhra Bnak shares. currently Rs 76 for Rs 10 share. dividend is 50% antee on Rs 76 u get dividend of Rs 5 per year which is non-taxable. 5-10 years from now share appreciate aithe u will be benefitted too No Signature | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 71 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
Ala avasaram ledhu kaani, they dont need to look for every month expenses. They can be independent and more-ever it gives freedom to them. Ofcourse, with 10-20k INR , they can not live lavishly . | ||
| Andhrawala Legend Username: Andhrawala Post Number: 39663 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
Ayana valla monthly maintenance kosam set chesthunnadu anukuntaa Mukunda, u can see soem Mutual funds which give dividend yield of 10%. ABsolutely no tax. think about it No Signature | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 3240 Registered: 06-2012 Posted From: 183.82.98.119 Rating: N/A |
waste brother. Mana parents aa monthly income ni malli RD vesi mee cheti lone pedatharu. enjoy cheyyalane concept aa 1980s lo young age lo unna valla lo assalu ledu. bad position lo siblings unte adi different kaani, manollu Sienfeld show lo vaadi parents laga eppatiki unda leru.. 2+ years of 100% open source software usage... | ||
| Bobbi Junior Artist Username: Bobbi Post Number: 137 Registered: 06-2013 Posted From: 137.254.4.12 Rating: N/A |
but you have to pay tax after repat. | ||
| Right_wing Junior Artist Username: Right_wing Post Number: 165 Registered: 12-2014 Posted From: 202.81.18.27 Rating: N/A |
best option is NRE/NRO FD if you are NRI. most banks give you 8.5 to 9% if you deposit for min 12 months and there is NO TAX on your interest.You can repatriate money fully if want it. | ||
| Tilak Megastar Username: Tilak Post Number: 26889 Registered: 02-2012 Posted From: 49.207.190.100 Rating: N/A |
You are correct. Narendra Modi, Pradhan Mantri, Bharata Ganarajya - www.pmindia.nic.in - www.narendramodi.in | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 70 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
I found this link from ndtv. http://profit.ndtv.com/news/your-money/article-income-tax-re turns-7-incomes-you-shouldnt-forget-to-declare-324112 I think this is fits into case 2 , where there is tax of 10% applicable.Correct me if I am wrong | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 69 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
Got Andhra bank link too here There is tax on interest. http://andhrabank.in/english/SCSSSchemes.aspx | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 68 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
Thanks for this info. Is there any upper limit on this ? Is there any tax on 26k? If so , how much ? Thanks in advance | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 67 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
SBI lo max 15 lacs anukunta https://www.sbi.co.in/portal/web/govt-banking/senior-citizen s I dont if they treat wife and husband as two individuals. My father is 61 but my mother is 52 | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 66 Registered: 02-2011 Posted From: 62.232.92.61 Rating: N/A |
Hi Everyone, Thanks for your input. I will look at post office and other FDs which will generate regular income. With this, we can make them independent . That is my plan. | ||
| Vasu Side Hero Username: Vasu Post Number: 5559 Registered: 10-2014 Posted From: 47.16.177.98 Rating: N/A |
I don't know bhayya last week matladite edo tax form vachindi ani chepperu I can find out more details | ||
| Bobbi Junior Artist Username: Bobbi Post Number: 135 Registered: 06-2013 Posted From: 173.71.126.173 Rating: N/A |
How much tax do you pay on 26k? | ||
| Vasu Side Hero Username: Vasu Post Number: 5540 Registered: 10-2014 Posted From: 47.16.177.98 Rating: |
Last year nenu oka property ammina dantlo partial amount around 37Lakhs FD chesa for 2 years (plan is to renew every 2 years) in Andhra Bank (I chose this because I know the Branch Manager personally) with 8.5% and my family gets around Rs.26K per month bhayya. Added myself to the FD as nominee just in case edanna issues ayite ani. Senior citizens ki additional 0.5% istharu | ||
| Bmw007 Moderator Username: Bmw007 Post Number: 12467 Registered: 10-2008 Rating: |
There is a good LIC schedme which pay 9.25% lifetime and interest is paid every month or 3 month...The deposited money can't be withdrawn but will go to the dependent once deceased.but there is a limit of 5 lakhs per head 01/04/2014-161.2 lbs 01/04/2012-187 lbs | ||
| Xxx Side Hero Username: Xxx Post Number: 8749 Registered: 04-2009 Posted From: 149.168.132.16 Rating: N/A |
how much tax they have to pay? - | ||
| Cocanada Legend Username: Cocanada Post Number: 49518 Registered: 01-2008 Posted From: 63.79.91.20 Rating: N/A |
all banks giving 8.5 + no | ||
| Thokkalohdi Side Hero Username: Thokkalohdi Post Number: 6490 Registered: 01-2008 Posted From: 108.226.190.195 Rating: N/A |
SBI lo senior citizens ki 9% interest istharu on FDs. 40,000K = 24,00,000rs = approx 22000 rs per month vachesthadi... Ranbir Kapoor is god of acting | ||
| Last_avataar Side Hero Username: Last_avataar Post Number: 5574 Registered: 09-2012 Posted From: 12.10.219.220 Rating: N/A |
Post office monthly scehem lo veyyochu ga ex : 9,00,000 on your name + dad's name interest can be taken every month 72000 per year = 6000 per month | ||
| Mukunda Junior Artist Username: Mukunda Post Number: 65 Registered: 02-2011 Posted From: 109.153.205.42 Rating: |
Hi, I am just thinking of fixed deposits that pays out monthly for senior citizens ( >60 yrs old) You might say that interest rates are not good and we can invest on either land or other but our parents never enjoy the fruits of it in their life. Can anyone please suggest any good such plans that pays out monthly . What are the implications of them ? |
