A Real Story: My Finance Reset After India Wapsi

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I moved back to India after 10 years in the US. I thought I had it all figured out  until I realized that money in India speaks a different language.

Here’s how I untangled my NRI finances and started fresh  without losing sleep or rupees.

💸 1. I Ignored My Foreign Bank Accounts – Big Mistake

When I returned, I didn’t close my US checking and savings accounts. That led to:

  • Dormant account charges
  • Missed 26AS tax disclosures
  • A mild panic attack when I realized I was still liable for FATCA compliance

Lesson: Close or consolidate unnecessary foreign accounts. India doesn’t forgive ignorance when it comes to taxes.

📌 Want to know how to close foreign accounts safely?
 👉 Check our Finance Services page.

🧾 2. I Had No Idea About Indian Tax Rules

I had no clue how:

  • Foreign income is taxed here
  • My US stocks would be treated
  • What “RNOR” (Resident but Not Ordinarily Resident) even meant

So I hired a CA. Best money I’ve spent in India. He even helped me recover TDS worth ₹87,000 I didn’t know I could claim.

🏠 3. I Was Ready to Buy Property – Without a Plan

I had ₹70L parked in my NRE account. I almost rushed into buying a flat in Noida.
 But I’m so glad I waited. Instead, I:

  • Took advice from a returning expat group
  • Checked land title clarity, RERA approvals
  • Invested ₹50L in debt & hybrid funds instead

Now my portfolio earns monthly returns – not EMIs.

📌 Curious about property + finance planning?
 👉 Explore our Real Estate Services too.

📉 4. I Didn’t Account for Inflation, At All

Groceries cost more here than in California (I’m not kidding).
 In my first month:

  • I blew ₹20K on eating out
  • Paid double for home WiFi (thanks to 6-month lock-ins)
  • Got shocked by private school fees for my daughter

It wasn’t about being “rich” in India — it was about being smart.

🛡️ 5. I Finally Got My Financial House in Order

What worked for me:

  • Setting up an emergency fund (₹2L liquid FD + ₹1L in UPI wallet)
  • Term life insurance (₹1 Cr coverage, ₹13K annual premium)
  • SIPs in balanced mutual funds
  • A trusted tax + investment advisor from India Wapsi network

❤️ Final Thought

Returning home isn’t just emotional – it’s financially disruptive.
 But with the right guidance, I feel more in control now than I ever did abroad.

If you’re an NRI figuring this all out – you’re not alone. Let’s talk.
 Start your Finance Planning Journey →

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