Should my parents know my salary details? Lately my parents’ income has been reduced, and I have told them I am making less than I am because I want to keep some for myself.
No.I told my parents and my sister how much I was earning when I started my new job at my university. A month later, my sister asked me for $700.My sister never disclosed why she needed the money, later I found out that she had $700 worth of unpaid parking tickets.I refused to lend her the cash.Friends and family members will continue to ask for favors unfortunately because they know how much you make.No one asked me for anything when I was making $500 bi-weekly, but when the number is triple, people are in need.I regret sharing this with my family, because people assume you are willing to pay for favors when needed.Truth is, despite making triple of what I used to make, I still do not have any money.EDIT: I forgot an important part of the story; my sister also drives a 2014 Mercedes SUV. This is largely a part of my decision to not loan her $700. More than likely, I wouldn't have seen the cash get back to me.
Why is it so important for Indian middle class families to have domestic help for daily chores such as such as cooking, cleaning, gardening, driving, etc? In the West, people of the same economic strata manage to survive with little external help.
The premise is disputed. I will still take the bite. India is traditionally resource-constrained, while Europe & US is labor constrained. India has a lot of labor, and Europe-US have a lot of resources. This have an impact on the respective lifestyles.In the US, I can easily afford a Dishwasher, have access to reliable water and lot of electricity. In India, my maid would wash with much lesser water and electricity than that. While driving, I use the automatic in the US as the gas/petrol prices are quite low and the decrease in efficiency is worth the comfort. In India, the resource price is higher and might go for a chauffeur driving a manual. Most Indian families do fine in the US as they quickly adjust to the new society as above. They don't miss their maids and chauffeurs much.Things get tricky when you have a child. Unlike dishwashing or vacuuming, childcare cannot be automated and thus it is fairly hard to raise kids. You need to constantly look after them, run after them and clean after them. This is where many Indians miss labor abundance back home. Thus, many Indians ask the help of their parents to help with the kids. Locals too have huge trouble managing kids without nannies, but they have a wider support network [parents, siblings, friends, cousins] locally while Indians in US often have none. In summary, it is not about daily chores there is a problem. It is in raising kids where expat Indians often face a pain. Kids are lovely, but also take up a lot of energy to manage.
Which is correct: "my sister and I" or "me and my sister"?
"I" and "me" are both pronouns that we use to refer to ourselves. Use "I" when it is the subject of the verb, and use "me" when it is the object of the verb or follow a preposition (with me, after us, etc). Remember that "I" is always written as a capital letter according to this site.People most often make mistakes using "I" and "me" when they are talking about more than one person. For example:My husband andI are going on vacation to Hawaii. (correct)My husband and me are going on vacation to Hawaii. (incorrect)Linda, Janet and I are friends. (correct)Linda, Janet and me are friends. (incorrect)You and I are having a dinner tonight. (correct)You and me are having a dinner tonight. (incorrect)My parents took my brother, sister, and me to the zoo every year when we were growing up. (correct)My parents took my brother, sister, and I to the zoo every year when we were growing up. (incorrect)Note that we mention the other person(s) first. In the above sentences we can't say "I and my husband", "I, Linda and Janet", etc.The easiest way to decide whether "I" or "me" is correct is to make the sentence using only "I" and see if it makes sense:I am going on vacation to Hawaii. (correct)Me am going on vacation to Hawaii. (incorrect)
Other than investing for retirement, what are other financial preparation I should make? For instance, should I hold an older car until it dies? Or, should I get aggressive about paying off/down a mortgage in lieu of retirement savings?
First of all, my best advice as a life-long investor is, find a good Certified Financial Planner and pay him or her to help you find your best solutions. If you live in the United States my cousin is brilliant (Allan Oxman, First Financial Resources, 704-342-2277). Otherwise, if you prefer someone you could meet face to face, use Google or YP.com | The Real Yellow Pages. Call them and if you think they could help you, get their CV’s. Find the person (don’t be sexist, women are excellent at this job!) who you think can best find solutions that work for you.Next, the mortgage question is easy - if it’s cheap (like under 6% interest) no rush in paying it down. It will cost you money to pay it down, and would you have other investments you could make with that cash that would return you MORE than 6%? If so, make those investments! If the mortgage is at 10% or higher, unless you are an experienced real estate investor, which by the nature of your question you are likely not, then you probably don’t have many (ie any) potential investments that could return you more than 10%, so, by all means, pay down the mortgage. Just think like that - what other things could I do with the cash that would give me a higher return? Think like that on all investment potentials. I suggest you learn a concept called Net Present Value. Compare all potential investments by NPV. If paying down your mortgage is your best of all possible choices, then do it.Now as to your other questions, I am not remotely an expert other than to tell you that most of them are completely individual-specific. For instance, I have no insurance at all other than my Quebec Medicare card. This drives my wife bat-poop crazy, but as I say to her, what insurance can I get that owning apartment buildings can’t do as well or better? Of course, if you are unfortunate enough to be a resident of the USA, you CANNOT be so flippant - you MUST have health insurance!!!!! Other than that, you would need an expert planner to look at your personal situation and guide you to making wise decisions.Finally, how much will it cost you to drive the car into the ground and do you need it for work? Wha’s cheaper, keeping the old one going, or just buying a new USED car that is only a year or 2 or 3 old, but still works fine after you’ve taken it to your mechanic to have it checked out BEFORE you close on the sale.Good luck, and smart investing, and planning to you.
How can one apply for a tourist visa if he is unemployed?
The tourist visa is for someone who wants to visit USA for tourism or visiting family/friends.If you are planning to be just a tourist in US, then you should be able to demonstrate your ability to pay for your expenses while in US. For example, you can show the Hotel reservations, flight bookings etc. You may also need to show that you have enough funds in you bank account to cover all the expenses while in US.If you are planning to visit family, then you would need a letter from the person you are meeting in US. The letter should invite you to their home and also mention that they are going to take the full financial responsibility of your living expenses when you are in USA.This was the financial responsibility part. Now, you should also be able to show the visa officer that you have sufficient ties with you country of residence and you intend to comeback after the visa is expired. They dont want you to come in the USA and then never return. Hence, you may show documents related to property that may have in the country of residence or anything that can prove that your intention of travel to US is just of the said purpose and you have not interest in living in US permanently. This is where having a job helps.