POSTED BY July 20, 2014 10:27 pm NO COMMENTSON
I am leaving for US in 2 months. I read that I will need to convert existing savings account into NRI or NRO account. other than that I have two mutual funds investment SIPs going on. 3 FDs 1 lac each. stocks worth 6 lacs.
Amount in mother account 30Lacs Swipe-in FD (and even Her pension 20k/month income goes to this)
1- Can I still invest or continue in mutual funds and what about stocks I have, do I need to sell them?
2- What options better than Mother FD amount (30Lac since I am in village not sure which city I will live after coming back lets say 4 years down to so no option of buying property/Flat) and her monthly pension (25K) investment option (risk zone very low).
3- I would be saving around 1 lac/month while in US what can I do with that money (Investing in US mutual fund/ US stock market/ NRI FD or other better options).
Thank you so much for kind responses in advance. I hope it would be great learning for may followers as well as it will be great if someone can share an article or book on NRI personal finance management before leaving and after reaching.