Korean Job Discussion Forums

[Paddycakes]

The guy in the video needs to shave, get a haircut and lose some weight.

I've met a million guys like him in Korea.

They like to blame their "problems" on external factors.

But never themselves.

There comes a point when you to accept that "you" are the problem, not necessarily everyone else.

[edwardcatflap]

[PRagic]

Average social security payouts are about 800 a month give or take. Gas money, greens fees, few nights out? Don't bank on SS being a main contributor to your retirement. Actually, don't count on SS as we know it even being around when you retire LOL!

Save, invest, save, invest. Repeat the mantra and start repeating it as early and as often as you can. Spread it out; large caps, small-medium caps, geographically, commodities, ETFs, etc. If you have the gonads, you could even go the real estate route and be a long distance slum lord. Not an easy buck, but the long run turn around can be worthwhile for the serious. Bank interest? Figure 3% give or take in Korea after taxes. It has been way higher in the past. Respectable if you have a big lump to plump down and are totally risk averse.

401Ks? Depends on how they're structured and how much personal hands on time you spend with them. Not the golden egg everyone seems to believe them to be, and a lot of them took it on the chin over the past few years. Would they help? Sure, if you did your career in the US and could consistently take advantage of matching fund opportunities.

Korea can be a great place for someone like the OP looking to wipe the debt slate clean (student or personal) at a young enough age, and for someone looking to bank up a little (10K or so) before chasing the cat in one's home country. What I can say is that we have more than a few very long term expat friends here and they're all ahead of the savings curve. To boot, most have very solid plans for retirement, early retirement at that!

Everyone's experience here is indeed different. But long term or short, the one thing I've seen over the years is that those who get comfortable financially have been the ones who have continued to invest in themselves. Sooner or later, you have to justify making more; doesn't matter if it's your business and you want to charge more, or if you work for the man. That goes here the same as anywhere else. Ah, but then again, I have a few friends who just happened to fall into very lucrative jobs. They're the exception, not the rule, though, and they'll freely admit it.

[PRagic]

Ah, and I forgot to mention that all the talk of SS, 401Ks and health insurance concerns are largely applicable only to Americans. Those moving back to Canada, G.B. or the EU have a few less hastles to deal with when planning retirement, especially in health related matters.

As an American, I don't know what scares me more, ObamaCare, of if the Supreme Court drops only the individual mandate. Either way, costs are going up, but if the individual mandate alone is stricken while insurers still aren't allowed to reject applicants based on prior conditions, we're going to astronomical fees start to pile up on high. Yeeesh.

[creeper1]

He has just put out a short teaser video. It seems we are in for an update soon on his situation.

I am waiting with baited breath.

http://www.youtube.com/watch?v=nLFIFYkPTJ4&list=UUKNRzuHIvzo_D1PyPCBtBWQ&index=1&feature=plcp

[Captain Corea]

[DejaVu]

I think those doing ESL in Korea are much more worried about financial security than any other ESL countries (being that Korea is one of the best paid).

I felt depressed before realizing this because I thought people care way too much about their future. Now, having realized who the people are that are talking to me, I realize that there are MANY years to worry about saving money. Not everyone wants a career.... go to another country and have fun.

[comm]

[DejaVu]

[edwardcatflap]

[DejaVu]

[creeper1]

Another exciting update for us to talk about.

http://www.youtube.com/watch?v=UsX3iDTP4eo&list=UUKNRzuHIvzo_D1PyPCBtBWQ

It seems like it has been tough for him. It really has. The idea (or dream) of a permanent pensionable job I think is beyond this generation.

Geomonronin seems to be moving from one temp job to another.

[Died By Bear]

It wouldn't hurt for him to smile once in awhile either.

[Plume D'ella Plumeria]

Sad stuff. He seems pretty depressed to me.

[PRagic]

No degree

Goes to China to teach English instead of picking up a trade or gaining exfull time experience in some sector at home. aNY sector!

4 years teaching in China with squat for savi gs to show for it. FOUR years.

Realizes that not having a degree will put up career blocks even in China.

Turns down part time work in China be ause he'd have to change over his visa too often.

Moves home and looks for work, but turns down part time jobs at first because he feels they're not worth it. This, while he peels through his meager savings and sponges off of people. Oh, but these people make him feel bad because they have great jobs and those doors seem closed to him.

STILL does not attempt to pick up a skill or trade that would differentiate him in the job market from, oh, a basket?

Did he inquire about fishing in Alaska? Merchant Marines? Military reserves or national guard? Move!

He's repeating the very same mistakes over and over, and casting himself in the the role of the victim.

So, yeah, if there are some recent grads over here who seem a little more intent on working, saving, and investing than perpetuating their teen beer bong years, then they're smart. And they should be a little scared and they should be a little serious about the decisions they make and their future ramifications. The older you get, the faster the future runs up and smacks you in the face. Just ask our blogger.