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> That sounds great. Come to USA after college, make a million dollars in a few years, move back home, get married, and build the Indian economy LOL. Your comm
by phakding 8y ago
> That sounds great. Come to USA after college, make a million dollars in a few years, move back home, get married, and build the Indian economy
LOL. Your comment doesn't even pass smell taste. How many people working as developers will make million dollars in few years after paying payroll taxes? Federal, state, social security, medicare on top of paying for housing, car insurance, health insurance, renter/house owner's insurance, trips back to homeland etc etc. Forget about fun and entertainment, or clothes, shoes, phones, computers, internet etc. Even with extreme level of penny pinching, 40% rate of saving is almost unachievable.
Now assuming every single immigrant that comes here after college makes $150 right off the bat, that $60K in bank every year. At that rate, to save million dollars, one would need 16.66 years. That too assuming there are no incidentals that become money pits.
Good luck getting married at almost 40 or getting uprooted and having to adjust to the different work environment or progress in the industry without any contacts. It's not all puppys and rainbows.
- sheepmullet 8y ago> Even with extreme level of penny pinching, 40% rate of saving is almost unachievable. Hah that’s a wealthy American point of view. When I first moved to the US I was saving 85% of my after tax income. Most (non-scam) Indian H1B holders I know are saving 6 figures a year.
- phakding 8y agoI am one of those and almost everyone ( with exception of one or two every class) in my masters programs we're on F1 Visa. Most of my friends work six figure jobs in cities nowhere close to as expensive as Bay area. I know for a fact, nobody has accumulated million dollars in cash. Close to million in worth? Yes if you count real estate with mortgage, but not that kid of cash. Math doesn't add up.
- sheepmullet 8y ago> I know for a fact, nobody has accumulated million dollars in cash. I agree, a million in a few years would be rare. In 10 years though? It’s certainly reasonable.
- bdamm 8y agoMaybe for a shut-in. I never had the patience to save like that. One of the advantages of SF Bay is the culture.
- phakding 8y agoNever said it's impossible. Is it practical though? If you are migrating to a country 8000 miles away, would you live like you lived in the slums of Dharavi? Some will. Most though, would like to live a normal life commensurate with their income.
- gspetr 8y agoThe "google truck engineer" story proves otherwise: https://www.businessinsider.com/google-employee-lives-in-truck-in-parking-lot-2015-10 https://www.businessinsider.com/google-employee-lives-in-tru...