Solving men's issues, particularly friendship for middle aged men, developing hobbies outside the purview of providership, infrastructure and tools for fighting addiction of all kinds and mental fitness. I think a lot about what a modern day men's magazine would look like, and what sort of platforms or tools could exist in service of men's emotional well being.
Readit Newsseige commented on Show HN: Digital KYC and Investing for Indian Expats by Inri (YC W23) · Posted by u/nish93
Yes we have written about 8621 in our blogs, we help in the documentation that individuals require to be compliant for FBAR and PFIC.
Post the zero interest rate regime, it's unlikely US will give that much return as it has in the last decade. AT the same time, India is in a better position vs last decade because foreign reserves are stronger, so depreciation probability is lower as well as fundamentals are better - RBI revised its growth forecasts upwards from 6% to 6.8%, capex to GDP has doubled in the last 7 years etc.
Overall, these factors make India a good diversification for X% of your capital, X can be higher if you choose to move to India, and lower if not, but it can be non-zero, provided the friction of investing is removed
Can you expand on how you help in the documentation? Mere guidance is not enough as the real advice afaik in the case of 8621 is to "hire a tax accountant". The trouble is that most tax accountants are not well versed in this as well so one's search is even harder.
Your point on India's growth rate likely to be higher than US is well received, but I want to understand something more tangible. Let's say I invest a dollar in India which grows at 7-8% risk free just using the FD instrument. At the end of each year though, US Gov will tax that growth at 30-40%. Next, If one repatriates that money, one loses even more value due to currency conversion. So in effect, your money grows at 4% most likely.
4% growth + tax paperwork hell seems imprudent. I'd like to learn what am I missing here? Many of my NRI friends don't bother investing in India. There is a serious lack of education in this regard.
seige commented on Show HN: Digital KYC and Investing for Indian Expats by Inri (YC W23) · Posted by u/nish93
This is a real problem, and you should take it as a vote in your favor.
There is a serious and large amount of ambiguous tax complications (form 8621) when an NRI tries to do this. I'd love to see more commentary on this on your landing page. Are you addressing it or is that your customer's responsibility?
After factoring in taxation on foreign assets by US gov and leakage due to weak INR, a repatriation situation looks very underwhelming. A 7% yield is more likely 3%. One is better of just putting $ in an index fund in the US unless one has decided to relocate to India in the long term and want to hold assets there. How do you folks think about this?
seige commented on Ignoring boys' emotional needs fuels public health risks wbur.org/cognoscenti/2023... · Posted by u/lucasv07
Bell Hooks "The Will To Change" is as astounding body of work for folks who are interested in this further.
seige commented on Ask HN: How to minimize career risk from an attempted startup · Posted by u/thw6597
Based on my personal experience attempting something like this, most people will not understand it.
To minimize risk, I'll recommend having conversations with other FAANG people in your network and create a soft back-door.
This is obviously opposite of "burn your bridges" strategy, which is quite popular and may not be your vibe.
Currently building: www.bookmocks.com , a micro-SAAS app for authors to acquire stunning photorealistic mockups of their book for social media and promotional ads.
Looking for: Marketing and Sales expert. What I bring to the table: Technical expertise.
Upside potential: This could challenge big tools like Placeit
Reach out to me at lifeinafolder@gmail.com if interested.
In somewhat similar shoes. I would love to chat 1:1 if your DM is open.
But if you are looking for general advice, I think it's important to want career progression. Generally speaking, for most people, bills go up as they age (kids, health, yada-yada). Unless you are sitting on inheritance money, you'll want to have a bigger pay-check to meet life's challenges.