Dark Reality Of Going To US To Make More Money
Finance With Sharan・2 minutes read
Moving to the US from India can result in significantly higher wealth generation, but challenges such as high tuition fees, visa restrictions, and long green card wait times exist, making alternative options like teaching in the US or setting up a business through the EB5 program worth considering. Additionally, exploring other countries like the UAE for potential savings or considering options like obtaining Caribbean passports for easier US entry may be viable alternatives to traditional immigration routes.
Insights
- Staying in India instead of going to the US for 7 years can result in wealth generation 5 to 10 times higher, highlighting the financial impact of such a decision.
- The US, despite its appeal, presents challenges such as high tuition fees, limited job opportunities, and lengthy green card wait times, influencing individuals to explore alternative immigration routes or consider other countries like Dubai for residency.
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Recent questions
What are the benefits of staying in India versus going to the US for 7 years?
Staying in India as opposed to going to the US for 7 years can result in wealth generation that is 5 to 10 times higher. This is due to factors such as lower living costs, potential job opportunities, and the ability to avoid high tuition fees and loan interests that may be incurred in the US. Additionally, staying in India may provide a more stable environment for family planning and financial security.
What are the challenges of finding a job in the US on a student visa post-graduation?
Finding a job in the US on a student visa post-graduation can be challenging, as if a job isn't secured within 2 months, staying in the country may not be possible. This time constraint adds pressure to graduates to secure employment quickly, potentially limiting their job options and leading to uncertainty about their future in the US.
What are the average tuition fees for a master's degree in the US?
The average tuition fees for a master's degree in the US are around a crore. However, it is important to note that starting salaries post-graduation may not always cover the loan interests incurred from these high tuition fees. This financial burden can impact graduates' ability to repay their loans and may influence their decision to stay in the US.
What are the implications of the Green card wait times in the US?
The Green card wait times in the US can extend to 50-100 years, which can hinder family planning for individuals seeking permanent residency. This lengthy wait time can create uncertainty and challenges for individuals looking to settle down and establish roots in the US, impacting their long-term plans and decisions.
What are the alternatives to conventional immigration routes to the US?
An alternative to the conventional immigration routes to the US is the EB5 program, which requires a $800,000 investment and job creation. This program offers a different pathway to obtaining residency in the US, providing an option for individuals who may not qualify for traditional visas or green cards. Additionally, non-cap based H1B visas are available for certain organizations like schools and hospitals, offering another avenue for immigration to the US.
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Summary
00:00
"US vs India: Wealth Generation Comparison"
- Staying in India versus going to the US for 7 years and returning results in wealth generation 5 to 10 times higher.
- On a student visa in the US, if a job isn't found within 2 months post-graduation, staying is not possible.
- Average tuition fees for a master's degree in the US are around a crore, but starting salaries may not cover loan interests.
- Treaties exist with the UK, Canada, Sri Lanka, and Pakistan for easier immigration, not with India due to population.
- Green card wait times can extend to 50-100 years, hindering family planning in the US.
- An alternative to the conventional route is the EB5 program, requiring a $800,000 investment and job creation.
- Non-cap based H1B visas are available for certain organizations like schools and hospitals, bypassing the lottery system.
- E2 Visa allows setting up a business in the US with a $50,000 investment, but Indians are ineligible due to treaties.
- A previous workaround involved obtaining a Caribbean passport for quick US entry, now requiring residency in Grenada.
- Teaching in the US presents a viable option for immigration, with a certification program and job opportunities.
13:24
"Comparing Living Costs and Residency Options"
- Living in the UAE versus India offers potential savings due to lower costs, with examples of living in Mumbai and Dubai.
- Australia's attractiveness has diminished due to limited job opportunities and discontinued programs, like the investment-based PR program.
- Singapore and Australia are losing appeal for residency, leading many to consider moving to the US or Dubai.
- The US remains a popular choice due to job availability, despite challenges like the H1B lottery and high tuition fees.
- Health insurance from India is not valid abroad, necessitating travel insurance and a separate policy in the US, with a cautionary tale about dental coverage.
