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FINANCIAL CHRONICLE™ » CHRONICLE™ SUPPORT » Is it good time to settle down in Sri Lanka how we plan it?

Is it good time to settle down in Sri Lanka how we plan it?

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nalaka_sg


Manager - Equity Analytics
Manager - Equity Analytics
Hi guys,

this is not directly related to stocks. but like to get your  genuine comments on this.
i been living in overseas almost 15 years and thinking to go back to my roots. im already fed up with living as 2nd class citizen in other land.

i want to make exit strategy:idea:

Takecharge


Manager - Equity Analytics
Manager - Equity Analytics
Definitely, no more check ups, bombs exploding, freedom, need not live in a cold climate all your life, time to return but make sure u bring ample amount of money with you (dollars) and invest.

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Good idea. Well come back to the mother land.

Humble


Manager - Equity Analytics
Manager - Equity Analytics
@nalaka_sg wrote:Hi guys,

this is not directly related to stocks. but like to get your  genuine comments on this.
i been living in overseas almost 15 years and thinking to go back to my roots. im already fed up with living as 2nd class citizen in other land.

i want to make exit strategy:idea:

Come come - its a nice place to be

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Nalaka u seem to be living in UAE, there's a bit of color discrimination in UK n US as well...

funland


Equity Analytic
Equity Analytic
@nalaka_sg wrote:Hi guys,

this is not directly related to stocks. but like to get your  genuine comments on this.
i been living in overseas almost 15 years and thinking to go back to my roots. im already fed up with living as 2nd class citizen in other land.

i want to make exit strategy:idea:

Unless you are a specialized person in a field that Sri Lanka is in short of human resources, I believe it is good for you to reside wherever you are now. But make sure to invest your money in Sri Lanka. This will help you to earn extra money while helping Sri Lanka to make use of your money to enhance the economy. If you are totally fed up, aged, and if you feel that wearing the badge of 2nd class citizenship (do you really feel like this after 15 years? I am surprised) is hurting beyond your level of emotion, you should come back to your mother land. Just my view. I could be wrong.

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Think about your kids' (if you have any) future before take a decision.
You will still be a second class citizen, If you have no money and political connections in Sri Lanka too.
It will hurt more then and where would you go then is a very funny question to ask.
I think some sacrifices are worth.

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Agree with kithsiri,

No money pls DONT COME. I really do mean it. The more money you have the more comfortable you are in Sri Lanka. It will be a painful experience to become a second class citizen in your own country.
If you are into properties and planning to buy a property, study about new highway systems. Try to find a property close to any interchange. Still there are places you can buy properties for a reasonable price. (I’m not a big fan of apartments) .
Again.. No money Dont come. (unless you inherited valuable things).

If you are planning to do a job then make sure to have a second income. It could be anything, interest from a deposit, investment etc etc....
GL

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@smallville wrote:Nalaka u seem to be living in UAE, there's a bit of color discrimination in UK n US as well...
It's a shame that Sri Lanka no longer offer dual citizenship. I can understand the intention but there are some genuine cases.

celtic tiger


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Funland wrote 'do you realy feels like 2nd class citizen after 15 years'
Dear funland
Longer you live more you feel. you are a tree without roots. there is no land like MOTHERLAND !

funland


Equity Analytic
Equity Analytic
@celtic tiger wrote:Funland wrote 'do you realy feels like 2nd class citizen after 15 years'
Dear funland
Longer you live more you feel. you are a tree without roots. there is no land like MOTHERLAND !

OK.Thanks.Appreciate your view.

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@UKboy wrote:
@smallville wrote:Nalaka u seem to be living in UAE, there's a bit of color discrimination in UK n US as well...
It's a shame that Sri Lanka no longer offer dual citizenship. I can understand the intention but there are some genuine cases.

They re-opened I heard but its expensive now Crying or Very sad 

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Good question but you need to plan it well and it deserves more interrogation than the above responses.

Effectively what you need as a basic is a luxury house and a luxury car.

Secondly you need about 10m in FD that will provide a complementary income.

Thirdly you need a good job with a good salary plus plenty of perks .... entertainment allowance, luxury car, fuel, and plenty of foreign travel. You need the foreign travel to justify that your not missing anything just in case your inner mind starts saying things to you. Lots of social parties ( yes the crap you see in Hi magazine also helps )

I say this because you gotta aim high otherwise you will live in regret. Wink 

roshana7549


Manager - Equity Analytics
Manager - Equity Analytics
@rainmaker wrote:Good question but you need to plan it well and it deserves more interrogation than the above responses.

Effectively what you need as a basic is a luxury house and a luxury car.

Secondly you need about 10m in FD that will provide a complementary income.

Thirdly you need a good job with a good salary plus plenty of perks .... entertainment allowance, luxury car, fuel, and plenty of foreign travel. You need the foreign travel to justify that your not missing anything just in case your inner mind starts saying things to you. Lots of social parties ( yes the crap you see in Hi magazine also helps )

I say this because you gotta aim high otherwise you will live in regret. Wink 


My personnel view is that, Don't buy luxury houses(unless you are very very rich) since it stuck your hard earned money on non income generating source, other thing is bigger the house bigger the maintenance cost subsequently..... Same thing can be applied for the luxury cars also.............

It is always better to keep some money on Investments such as FD, Share mkt ,Land etc which can provide you an extra income... If you can save money from purchasing a affordable house rather than a luxury one, you could save some money for investments.........

LIFE IS NOT ABOUT PRETENDING THAT YOU ARE RICH TO OTHERS BUT INTERNAL HAPPINESS WHICH CAN BE DERIVED FROM MENTAL FREEDOM, when you got stuck with loans and debts which are difficult to be paid, life is more miserable. Therefore it s always better to be simple and debt free and which can give you some mental freedom.....

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@roshana7549 wrote:
My personnel view is that, Don't buy luxury houses(unless you are very very rich) since it stuck your hard earned money on non income generating source, other thing is bigger the house bigger the maintenance cost subsequently..... Same thing can be applied for the luxury cars also.............

It is always better to keep some money on Investments such as FD, Share mkt ,Land etc which can provide you an extra income... If you can save money from purchasing a affordable house rather than a luxury one, you could save some money for investments.........

LIFE IS NOT ABOUT PRETENDING THAT YOU ARE RICH TO OTHERS BUT INTERNAL HAPPINESS WHICH CAN BE DERIVED FROM MENTAL FREEDOM, when you got stuck with loans and debts which are difficult to be paid, life is more miserable. Therefore it s always better to be simple and debt free and which can give you some mental freedom.....

Hear hear. I like your view.

roshana7549


Manager - Equity Analytics
Manager - Equity Analytics
@slstock wrote:
@roshana7549 wrote:
My personnel view is that, Don't buy luxury houses(unless you are very very rich) since it stuck your hard earned money on non income generating source, other thing is bigger the house bigger the maintenance cost subsequently..... Same thing can be applied for the luxury cars also.............

It is always better to keep some money on Investments such as FD, Share mkt ,Land etc which can provide you an extra income... If you can save money from purchasing a affordable house rather than a luxury one, you could save some money for investments.........

LIFE IS NOT ABOUT PRETENDING THAT YOU ARE RICH TO OTHERS BUT INTERNAL HAPPINESS WHICH CAN BE DERIVED FROM MENTAL FREEDOM, when you got stuck with loans and debts which are difficult to be paid, life is more miserable. Therefore it s always better to be simple and debt free and which can give you some mental freedom.....

Hear hear. I like your view.

Thanks a lot for admiring my view, it is very inspirational when somebody like you comes up with positive comments.............Very Happy 

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@nalaka_sg wrote:Hi guys,

this is not directly related to stocks. but like to get your  genuine comments on this.
i been living in overseas almost 15 years and thinking to go back to my roots. im already fed up with living as 2nd class citizen in other land.

i want to make exit strategy:idea:

Your decision could be based / depends on the following -

Age, Current Country of Residence, Financial Means / Strength, your livelyhood overseas, what you intend to do in Sri-Lanka, Kids ?, Family in Sri-Lanka etc.  
Dont worry too much on being a second class citizen in another land. their is no guarantee you will become a first class citizen in Sri-Lanka !
Also remember, the grass always seems greener on the other side i.e. particularly after a fairly long stint overseas, you long to come home. when your here, you may wish to go back !

Takecharge


Manager - Equity Analytics
Manager - Equity Analytics
" when your here, you may wish to go back !
The Alchemist "
That could happen, due to various reasons.

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
im already fed up with living as 2nd class citizen in other land.

I can understand. I came back within two years !
I have another friend who is at a top position in DXB, coming back after 17 years leaving the lucrative job.

I think you are matured enough to manage your life and wealth here. If you have kids exposed to comfort they may get hard time to adjust.

Do not expect hassle free driving. You have to learn not to get angry when others show unexpected and foolish behavior on the road.

About investments,

Buy a countryside land within few hrs reach from the residence,  and plant Kos, Del, pol , amba , rambutan etc. and you can enjoy real life when you feel fed-up in town. Select a poor good family to look after it and you can help them also without affecting your finance. Few thousands are big amount for them.  

Doing a job will be much difficult. Our pace is mush slower in everything. Many people are just sitting like puppets. I gave up doing jobs, they cannot cope with my speed. I get angry and next was high blood pressure. If you like chatting and gossip wow! then this is the best place.

Best way is starting your own place and train some youngsters.  

There are many scams targeting expatriate cash. Do not jump in without full investigation.

As rainmaker correctly said, few trips abroad is a must. I prefer Thailand mainly due to affordable costs and tasty  food. [ nothing else  Wink ]

As UKBoy said, study new highway system before buying lands. CMB-Kandy is coming.

After coming here, I studied many projects to start. We dropped many because : after paying salaries you get nothing.  

If you have enough money put half of it in FDs and buy good shares using the interest. Never go for margin trading.

Do not take risk by  investing all the money you have in everywhere. Better to keep at least 50 % in TB or FD until you develop any other steady income here.

Better not to bother about politicians or what they do. Do not argue in politics and waste your time and energy.

Finally, we miss many nice things in life while running for money and wealth.

We can do Bird watching, hiking, travelling in your own country, photography, helping poor..  etc.  There are many nice things to enjoy if you have money to  keep you alive.

My slogan is FIRE.

Financially Independent and Retire Early.
I escaped from the 'job' trap at the age of 48 years.

I worked hard for money for 26 years, now money work for me. I just manage them, leisurely .

If you wait to retire at 55 or 60 you knee joints will not allow you to go anywhere except hospital and then to the final pace.

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@ Chinwi ,
Hope you have read the book Rich Dad And poor Dad........By Kiyosakia.

Good advise....................

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