30M Making 2.8cr/yr on paper need advice
Hi all,
I’m currently in the US and recently started a new job. My total compensation is around ₹2.8 Cr, with roughly ₹1.7 Cr after tax, and there’s also a performance-based component of around ₹33–66L/year.
Right now I have around ₹40L in savings. My parents want me to buy a house in India in the ₹1–2 Cr range, especially since I’m planning to get married sometime next year.
I come from a pretty poor family, so growing up there was never really any money left to think about investing, saving, asset allocation, etc. Because of that, I feel like I’m earning well now but I don’t really have a proper financial roadmap.
I’m contributing to my 401(k) in the US and currently have around ₹30L in it. I’m also planning to move back to India in around 5 years.
After buying the house, my current thought is to keep investing here and also send money to India to buy plots/land over time, but I’m not sure if that’s actually the right approach.
For someone in my situation, what should I prioritize over the next 5 years? How much money would you personally put toward the house, investments, cash savings, land, etc.?
Would especially like to hear from people who moved back to India after working in the US or had a similar financial situation.