Ask HN: What would you do in my situation?

I'm asking HN since I don't have a mentor or family member to seek advice from. Throwaway account for obvious reasons.

I'm a first generation immigration, still on H1-B waiting for my green card. Have been in the US for 16 years. I work in tech, at a fairly high middle management position in a public company of 2000 employees. Yearly income of roughly $450k depending on how the stock performs. Wife does not work due to a health situation with my child.

We have about $350k in cash and $200k in investments (401k, IRA and post-tax). I bought my house a few years back and was lucky enough to have a low mortgage payment.

Here's my situation. I'm extremely tired of waiting for my green card but due to a family situation, I cannot go back to my home country. I want to do something else (take a break from work or find a different type of role or work part-time) but my H1-B does not allow me to do that. I don't know how to invest my cash or what to do with it. We have thought about buying another property but everything seems very high where I live. I'd like to move closer to work but homes are very expensive there. What would you do in my situation?

11 points | by throwaway82729 2256 days ago

8 comments

  • hemantv 2256 days ago
    Here is suggestions why not pay $500k to US government and get a investment visa Eb5. You have $350k cash. Look for low interest loan on 401k for another 150.

    I would advise you to hurry up since $500k might be raised soon. Read about EB5 investment center. With little bit of research you might also be able to turn decent profit too.

    [-]
    • hemantv 2256 days ago
      If you are okay to move to Europe look at Bulgaria permanent residency too.

      You will be able to live anywhere in Europe once you get the permanent residence with 500k bond

    • hemantv 2256 days ago
      Happy to advise more on my email
  • smoyer 2256 days ago
    You seem to have a pretty small nest-egg considering the number of years you've worked and the amount that you make. I'd suggest that, given what I assume to be your spending habits (and it's just an assumption), that you really can't afford to not be working anyway. If I were you, I'd practice minimizing what I'm spending per month before I even thought about what else to do. Being independently wealthy is a continuum - many people could stop working if they were willing to minimize their spending dramatically.
    [-]
    • throwaway82729 2256 days ago
      I've been employed for 13 years and I started with a low-paying job ($35k). I had to pay off some loans in the early part of my career and didn't save much for the first 6 years. After that, I bought my house which ate into my savings. The house is currently worth $500k more than what I paid for it. Currently, I try to save at least $4k per month. I drive a cheap car (pay $134) per month and have no other debts other than my mortgage. The only thing we splurge on is food and even with that, we don't spend more than $15/person when we go out.
      [-]
      • smoyer 2256 days ago
        Ah ... so it wasn't an average of $450k over those years. Sorry I misread your situation. Unfortunately, I don't know of anything that can help you with your H1B problem in the US. There are exceptions in other countries that are more desperate for certain types of professionals.
      • maxwin 2256 days ago
        Since you said your family has some health problems. I suggest that you find a way to continue to work and save for at least 2 years .
      • sheepmullet 2255 days ago
        > Currently, I try to save at least $4k per month

        Is that excluding stock and bonus?

        When I was on a similar wage I was saving $12k/month.

  • toomuchtodo 2256 days ago
    Would your employer allow a sabbatical? Do they have offices in another country they could sponsor you where it’s be easier to obtain citizenship (Canada)?

    My suggestion would be to talk to an immigration attorney who could provide guidance on other avenues for you to remain in the country besides an H1B, perhaps through your own business you could invest your assets in.

  • zapperdapper 2254 days ago
    > I'm extremely tired of waiting for my green card but due to a family situation, I cannot go back to my home country.

    Could you move to a third country, say Canada, or perhaps somewhere in Europe?

  • ajeet_dhaliwal 2256 days ago
    I don’t know what to suggest but I think you’ve done well financially.
  • throwaway82729 2256 days ago
    I made a mistake in my investment numbers. It's not $200k but more closer to $380k.
  • max452 2255 days ago
    wishing you the best there, sorry can't help you! I hope someone her would!
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