I'm a non-immigrant worker, on a work visa. I might get the green card and settle in the US or move to India after n years. Being in this middle ground confuses me very much when it comes to investment.
I'm not maxing 401k because I don't know where I will be when I'm 65 years.
No significant contribution to HSA for the same reason
NO IRA or Roth as well.
I have 41k in 401 and match employer contribution. Other than that this is how I've put my money so far.
Real Estate $192k (India - lands that are expected to appreciate high in 20 years and one home for us and 3 mini rental apartments.USA - 1 townhome bought last year, just did 5% downpayment )
Investments in the family business - $15k. Approximately 20% returns guaranteed. But don't want to take risk of contributing too much. My plan is to keep investing $15000 yearly max.
Investments Peer to Peer - $7k (28% returns & very risky/don't want to add more)
Investments in Gold, bank investments - $53k (bank investments have to continue at $5200 yearly)
Savings Account- $6.5 k
Money lent - $3 k (hope it returns back)
My current networth is $320k.
Family of 4: Me (age 33), wife (age 28) and 2 kids (age 4 and 3)
Income:
Salary after taxes/401k contribution - 83k yearly
Bonus - approx 12k yearly after tax
Interest from rentals & investments in India - $9k yearly
Wife is not working for now.
Expenses:
Mortgage/tax/pmi/hoa - USA home: $1570 (1700 sq ft town home, bought at $250k)
Mortgage - Indian Rental apartment: $1100 (will be done in Aug 2021)
Utilities - $295
Groceries - $400
Fun/Misc/Eat out/Gifts - $220
Car/Gas - $210
School - $320
Total: $4100 (will become $3000 after the rental mortgage closes in 2021).
Total yearly: $49200
Savings: $46000 (Not considering mortgage principals/401k etc).
I'm looking for advice on how to invest $46000 after considering my "middle ground" situation.
If I settle in India, in the current situation I would need $750 monthly to live a fairly frugal life. I currently get this from rentals &
investments. I would need $1500 for not so frugal life and considering unexpected expenses (India doesn't have good health care system).
If I settle in the USA, I think $30,000 yearly is good for us.
I like my work..so I can work beyond 40 if needed. Semi-retired is great, there are options to work as a short term contractor in my job.
Given all these varied scenarios, my head is spinning trying to do my FI planning & invest my savings. Any help is greatly appreciated.