4. Financial Planning

One of the main factors to keep in check for returning Indians is personal finance. Credit cards, loans, investments, 401K, etc. Make sure you do the right thing that works for you. For example…

1. Credit cards: If you don’t plan to use them, you might want to close all credit cards. They may take a hit on your credit score, but then if you’re not bothered about credit scores anymore, you might as well let it drop. Credit scores from the US will not carry over to India (CIBIL Score).

2. Home loans: Make sure you pay them off before moving back to India. OR Have funds arranged in the bank account so that it is paid off in time. Leaving loans unpaid is a bad idea and might attract legal issues.

3. 401K: There is a huge debate about whether to withdraw them or not while returning to India. It all depends on your status and your future plans, really.

Here is a guide on what to do with your 401K when returning to India.

4. House: If you have a house in your name, you can either sell it off or transfer ownership/hire a real estate management company to give it out for rent. The rental income may be a good source for you. (taxable)

5. Freeze your social ID Freezing your social security is much recommended before you return to India. This is to avoid any kind of identity theft etc. Here is a guide to lock your social security for free.

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