It is the 15th day of complete lockdown in India. I am based here in Delhi — living by myself while my parents are 500 kms away in Madhya Pradesh. We try to talk each and every day to keep ourselves motivated; however, to be perfectly candid, it is starting to get bleak. Cases are rising each day.
Situation in the US seemed to be getting worse as well. So, I decided to check in with my friends abroad, who are even further away from their parents. What I heard from them was a lot of anxiousness due to the uncertainty surrounding this situation. Hence, we wanted to reach out to all of you to let you know that you are not alone in this and we are here to support you in battling the top 5 fears and insecurities of a US based NRI during Corona .
1. High job risk!
While talking to a few NRIs, I got to know that this is one of the major fears. If global economy slips into recession, there would be massive layoffs. I would suggest, stay calm, wait for 10–15 days to see how the situation is evolving, it’s too early to say anything. Also, as gathered from several sources, layoffs are expected, but will be temporary. Hopefully, things will be back to normal soon. You can also start looking for alternative jobs in India if the situation stabilises here. According to Moody’s, India might escape recession and be one of the very few countries to grow. So, hope for the best. If you are looking for jobs in India, we will try helping you — contact us using the button below.
2. What if the visa expires?
This is a major fear grappling a lot of my NRI friends, again hoping both countries would negotiate and co-operate to take care of the huge Indian-American population in the US. I have a few friends here who are trying to get their families back post lockdown. Will try and see what we could do there.
3. No domestic help for old parents back in India? What if lockdown extends?
I came across a lot of such queries on my email. NRIs are really worried about their parents, as lockdown came all of a sudden and due to the chaos, there is no one to take care of their elderly parents, I would be happy to take such queries and we will try our best to solve it for you. If you are looking for an insurance against corona for your family in India, kindly visit sbnri.com/covid-insurance
4. Where to invest in this bleak market?
As mentioned above, as per agencies Indian could escape recession. If you are a risk-taker, you can try investing in public markets here or if you want to play it safe, invest in tax-free FDs in India. If you want to hold your money in dollars, open an FCNR account with Indian banks which will give you tax-free dollar deposits for 2–3% yield
If you want to bet on weaker rupee currently, invest in 6–7% high yeilding tax-free INR FDs.
If you are ok to let this cycle go, you can sit back, relax and let your money be where it is.
For any of the above, you can contact us using the button below.
5. How to get out of this loneliness!
Well, I feel you here. I have tried to use my time as effectively as I could during this lockdown:
a) Preparing for my long term goals: I have started thinking about and working on my long term goal. I believe this is the best time to prepare a plan to achieve your goals. Read and learn more about it.
b) Exercising daily: I have started working out for at least 40 minutes daily. It keeps me physically and mentally healthy. You can do it in your balcony, living room, anywhere.
c) Take the time to introspect and thank everybody who has helped you reach where you’re today.
d) If you are looking for a partner, this is the best time to start online dating and see if you would like to meet them in person post the lockdown.
These are some of my suggestions and a few of the things I am doing to stay positive. I thought I would share, in case it helps people during these grim times.
Battling the fears and insecurities of a US based NRI during Corona requires a silver lining and a vision that can spot one.
For any other queries or to discuss any issues you might be facing, contact us and we will try our best to gather all the resources to help you.