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Best place to invest money
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neilio



Joined: 12 Oct 2010

PostPosted: Tue Jul 01, 2014 10:40 pm    Post subject: Best place to invest money Reply with quote

Looking for advice from those who understand finance/investing/etc.

I have money building up and not enough strip clubs to make it rain in.

On the series, if i have cash lying around, does it make more sense to invest it locally in a TFSA, or send it back home to my TFSA/RRSP?

Consider:

-Rise/fall of WON/CAD.

I remember 3 years ago 1000 won got me $1.25 or so, now it's more even. So that means the WON value is decreasing?

-I'm here indefinitely. Perhaps permanently.

Does that change what country to invest the $? If i were to send home, should i wait for the WON to increase in value?

What do you'll do? Please state your personal situation, if you're here for a year or plan to stay a while.
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Lucas



Joined: 11 Sep 2012

PostPosted: Tue Jul 01, 2014 10:51 pm    Post subject: Reply with quote

Quote:
Looking for advice from those who understand finance/investing/etc.

I have money building up and not enough strip clubs to make it rain in.

On the series, if i have cash lying around, does it make more sense to invest it locally in a TFSA, or send it back home to my TFSA/RRSP?

Consider:

-Rise/fall of WON/CAD.

I remember 3 years ago 1000 won got me $1.25 or so, now it's more even. So that means the WON value is decreasing?

-I'm here indefinitely. Perhaps permanently.

Does that change what country to invest the $? If i were to send home, should i wait for the WON to increase in value?

What do you'll do? Please state your personal situation, if you're here for a year or plan to stay a while.


How much are you looking to invest?
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Jane



Joined: 01 Feb 2003

PostPosted: Wed Jul 02, 2014 12:05 am    Post subject: Reply with quote

You mentioned RRSPs and TFSAs, so you must be Canadian.
To invest in a TFSA you have to have residency ties to Canada, and for an RRSP you need to have contribution room, which accumulates when you work in Canada. Depending on your situation, you may or may not be eligible for these investment vehicles if you live permanently in Korea.

The benefits of investing in a TFSA is that you will incur no tax based on the interest income. For an RRSP, the tax is deferred until you withdraw the investments in it.

So to help answer your question, you are best to seek information on how much tax you pay here in Korea on interest income, which might help make your decision easier. Also, if you keep your funds in Korea with the expectation of one day returning to Canada to live, you will have to consider the currency risk.

If you are eligible to invest in either a TFSA or RRSP and these vehicles meet your longterm financial goals, one way to go about is to invest through an online discount brokerage like Questrade. That way, you will have full control over your funds at all times online, but you will also reap the benefits of the Canadian government's goodies.

One final point: you should also determine what kind of risk you can stomach. The riskier the product, the more potential for income (and loss!). It's best to have a mix of products (index funds, fixed income, money market funds, etc.) You can always talk to an adviser in Korea at places like Mirae Asset, or Samsung Investments, if you are planning on staying in Korea.
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wishfullthinkng



Joined: 05 Mar 2010

PostPosted: Wed Jul 02, 2014 1:07 am    Post subject: Reply with quote

buy a condo in manila.

you'll thank me later.
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atwood



Joined: 26 Dec 2009

PostPosted: Wed Jul 02, 2014 8:00 pm    Post subject: Reply with quote

Jane wrote:
You mentioned RRSPs and TFSAs, so you must be Canadian.
To invest in a TFSA you have to have residency ties to Canada, and for an RRSP you need to have contribution room, which accumulates when you work in Canada. Depending on your situation, you may or may not be eligible for these investment vehicles if you live permanently in Korea.

The benefits of investing in a TFSA is that you will incur no tax based on the interest income. For an RRSP, the tax is deferred until you withdraw the investments in it.

So to help answer your question, you are best to seek information on how much tax you pay here in Korea on interest income, which might help make your decision easier. Also, if you keep your funds in Korea with the expectation of one day returning to Canada to live, you will have to consider the currency risk.

If you are eligible to invest in either a TFSA or RRSP and these vehicles meet your longterm financial goals, one way to go about is to invest through an online discount brokerage like Questrade. That way, you will have full control over your funds at all times online, but you will also reap the benefits of the Canadian government's goodies.

One final point: you should also determine what kind of risk you can stomach. The riskier the product, the more potential for income (and loss!). It's best to have a mix of products (index funds, fixed income, money market funds, etc.) You can always talk to an adviser in Korea at places like Mirae Asset, or Samsung Investments, if you are planning on staying in Korea.

Good advice, except for talking to a financial salesperson, I mean advisor.

Don;t overlook home-country bias. Even if you are planning to retire in Korea, you don't want to put all your eggs in one basket.

This is an excellent company I can recommend without hesitation: https://www.vanguardcanada.ca/individual/portal.htm

And for advice, there's no place better than the diehard.org forum.

Good luck!
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Yaya



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Wed Jul 02, 2014 8:07 pm    Post subject: Reply with quote

wishfullthinkng wrote:
buy a condo in manila.

you'll thank me later.


Uh, the Philippines is experiencing a real estate bubble, with the prices of many condos being inflated.

Buy a condo in Bangkok would be a better bet.
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Jane



Joined: 01 Feb 2003

PostPosted: Wed Jul 02, 2014 8:50 pm    Post subject: Reply with quote

atwood wrote:
Jane wrote:
You mentioned RRSPs and TFSAs, so you must be Canadian.
To invest in a TFSA you have to have residency ties to Canada, and for an RRSP you need to have contribution room, which accumulates when you work in Canada. Depending on your situation, you may or may not be eligible for these investment vehicles if you live permanently in Korea.

The benefits of investing in a TFSA is that you will incur no tax based on the interest income. For an RRSP, the tax is deferred until you withdraw the investments in it.

So to help answer your question, you are best to seek information on how much tax you pay here in Korea on interest income, which might help make your decision easier. Also, if you keep your funds in Korea with the expectation of one day returning to Canada to live, you will have to consider the currency risk.

If you are eligible to invest in either a TFSA or RRSP and these vehicles meet your longterm financial goals, one way to go about is to invest through an online discount brokerage like Questrade. That way, you will have full control over your funds at all times online, but you will also reap the benefits of the Canadian government's goodies.

One final point: you should also determine what kind of risk you can stomach. The riskier the product, the more potential for income (and loss!). It's best to have a mix of products (index funds, fixed income, money market funds, etc.) You can always talk to an adviser in Korea at places like Mirae Asset, or Samsung Investments, if you are planning on staying in Korea.

Good advice, except for talking to a financial salesperson, I mean advisor.

Don;t overlook home-country bias. Even if you are planning to retire in Korea, you don't want to put all your eggs in one basket.

This is an excellent company I can recommend without hesitation: https://www.vanguardcanada.ca/individual/portal.htm

And for advice, there's no place better than the diehard.org forum.

Good luck!


Yes, advisors are SALESpeople, so keep that in mind. However, they can give you some valuable information about what kind of products are out there and tax situations in Korea. If you do decide to go with an investment company, you will pay commissions for their services, which eat at a chunk of your potential profit. Not to mention, the conflict of interest, where they may sell you a product that is to your detriment, but to their profit! So, best to go with an online discount brokerage. It takes some time and effort to understand how they work, but the time and energy is an investment to realize your financial goals.
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wishfullthinkng



Joined: 05 Mar 2010

PostPosted: Wed Jul 02, 2014 9:52 pm    Post subject: Reply with quote

Yaya wrote:
wishfullthinkng wrote:
buy a condo in manila.

you'll thank me later.


Uh, the Philippines is experiencing a real estate bubble, with the prices of many condos being inflated.

Buy a condo in Bangkok would be a better bet.


professionals would disagree with you.

http://www.reuters.com/article/2014/07/03/philippines-property-idUSL3N0OG2QK20140703
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atwood



Joined: 26 Dec 2009

PostPosted: Wed Jul 02, 2014 11:07 pm    Post subject: Reply with quote

Jane wrote:
atwood wrote:
Jane wrote:
You mentioned RRSPs and TFSAs, so you must be Canadian.
To invest in a TFSA you have to have residency ties to Canada, and for an RRSP you need to have contribution room, which accumulates when you work in Canada. Depending on your situation, you may or may not be eligible for these investment vehicles if you live permanently in Korea.

The benefits of investing in a TFSA is that you will incur no tax based on the interest income. For an RRSP, the tax is deferred until you withdraw the investments in it.

So to help answer your question, you are best to seek information on how much tax you pay here in Korea on interest income, which might help make your decision easier. Also, if you keep your funds in Korea with the expectation of one day returning to Canada to live, you will have to consider the currency risk.

If you are eligible to invest in either a TFSA or RRSP and these vehicles meet your longterm financial goals, one way to go about is to invest through an online discount brokerage like Questrade. That way, you will have full control over your funds at all times online, but you will also reap the benefits of the Canadian government's goodies.

One final point: you should also determine what kind of risk you can stomach. The riskier the product, the more potential for income (and loss!). It's best to have a mix of products (index funds, fixed income, money market funds, etc.) You can always talk to an adviser in Korea at places like Mirae Asset, or Samsung Investments, if you are planning on staying in Korea.

Good advice, except for talking to a financial salesperson, I mean advisor.

Don;t overlook home-country bias. Even if you are planning to retire in Korea, you don't want to put all your eggs in one basket.

This is an excellent company I can recommend without hesitation: https://www.vanguardcanada.ca/individual/portal.htm

And for advice, there's no place better than the diehard.org forum.

Good luck!


Yes, advisors are SALESpeople, so keep that in mind. However, they can give you some valuable information about what kind of products are out there and tax situations in Korea. If you do decide to go with an investment company, you will pay commissions for their services, which eat at a chunk of your potential profit. Not to mention, the conflict of interest, where they may sell you a product that is to your detriment, but to their profit! So, best to go with an online discount brokerage. It takes some time and effort to understand how they work, but the time and energy is an investment to realize your financial goals.

More good advice. The company I referenced is owner-owned, so fees are kept to the bare minimum. That can save you thousands of dollars a year, depending on the amount invested.

BTW look at your post. How many times do you mention "products"? You should invest your money, not use it to purchase "products."
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radcon



Joined: 23 May 2011

PostPosted: Wed Jul 02, 2014 11:35 pm    Post subject: Reply with quote

If i had money I'd just slide that wad over to my father, cause he's like one of the top brokers in the state.
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Stan Rogers



Joined: 20 Aug 2010

PostPosted: Thu Jul 03, 2014 12:34 am    Post subject: Reply with quote

Blackjack! 100% return or loss in just seconds. Same odds as the stock market without the waiting.
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yodanole



Joined: 02 Mar 2003
Location: La Florida

PostPosted: Sun Jul 06, 2014 10:27 am    Post subject: Reply with quote

These good folks will handle your money for me ......

https://www.google.com/search?q=dewey+cheatem+and+howe&client=firefox-a&hs=ZYD&rls=org.mozilla:en-US:official&tbm=isch&imgil=63--Y-eOV9XkRM%253A%253Bhttps%253A%252F%252Fencrypted-tbn2.gstatic.com%252Fimages%253Fq%253Dtbn%253AANd9GcTLR0UVnXNfwYDAZQcjiDI0t9TNRXbfPVulxKTL8gjiFNa89v5X%253B366%253B366%253BAFbYp8kyFfAFMM%253Bhttp%25253A%25252F%25252Fthepurseforumcomplaints.blogspot.com%25252F2011%25252F02%25252Fdewey-cheatem-howe.html&source=iu&usg=__VI3QbDBAEqwx_0qL9yNgpWMvcnQ%3D&sa=X&ei=lJS5U_OeNIensAS6uoGYBw&ved=0CCkQ9QEwAQ&biw=1280&bih=861#facrc=_&imgdii=_&imgrc=63--Y-eOV9XkRM%253A%3BAFbYp8kyFfAFMM%3Bhttp%253A%252F%252F4.bp.blogspot.com%252F-cnd6-Fn0Umc%252FTWuhbet1cXI%252FAAAAAAAAANU%252F7ZOdhrvIguQ%252Fs400%252FDewey%25252BCheatum.jpg%3Bhttp%253A%252F%252Fthepurseforumcomplaints.blogspot.com%252F2011%252F02%252Fdewey-cheatem-howe.html%3B366%3B366
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Yaya



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Tue Jul 08, 2014 3:35 am    Post subject: Reply with quote

wishfullthinkng wrote:
Yaya wrote:
wishfullthinkng wrote:
buy a condo in manila.

you'll thank me later.


Uh, the Philippines is experiencing a real estate bubble, with the prices of many condos being inflated.

Buy a condo in Bangkok would be a better bet.


professionals would disagree with you.

http://www.reuters.com/article/2014/07/03/philippines-property-idUSL3N0OG2QK20140703


I respectfully disagree with them despite not being "a professional." Don't forget, experts are often wrong (nobody really predicted the 2008 crisis) and well, I've seen condos go for as much as half a million dollars in certain parts of Manila, which is WAY overpriced. Don't forget, the Phils is STILL a Third World country, and it seems Northeast Asian investors are snapping up properties as opposed to American or European, which gives me cause for concern.

The Phils is still not that investment friendly (despite its faults, Korea is one of the few countries that allows foreigners to own land), and despite things improving on the business front, buyer beware.
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Weigookin74



Joined: 26 Oct 2009

PostPosted: Tue Jul 08, 2014 11:26 pm    Post subject: Re: Best place to invest money Reply with quote

neilio wrote:
Looking for advice from those who understand finance/investing/etc.

I have money building up and not enough strip clubs to make it rain in.

On the series, if i have cash lying around, does it make more sense to invest it locally in a TFSA, or send it back home to my TFSA/RRSP?

Consider:

-Rise/fall of WON/CAD.

I remember 3 years ago 1000 won got me $1.25 or so, now it's more even. So that means the WON value is decreasing?

-I'm here indefinitely. Perhaps permanently.

Does that change what country to invest the $? If i were to send home, should i wait for the WON to increase in value?

What do you'll do? Please state your personal situation, if you're here for a year or plan to stay a while.


I'd say not. Threee years ago, 1000 won got you 85 cents approximately. Nowadays, it will get you $1.05. The won if finally increasing after an almost 6 year slump. I am hoping the won rises more to 2007 levels. Economists seem to think the won will keep rising.
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Chaucer



Joined: 20 Oct 2009

PostPosted: Wed Jul 09, 2014 7:12 am    Post subject: Harpers Reply with quote

Yaya wrote:
wishfullthinkng wrote:
Yaya wrote:
wishfullthinkng wrote:
buy a condo in manila.

you'll thank me later.


Uh, the Philippines is experiencing a real estate bubble, with the prices of many condos being inflated.

Buy a condo in Bangkok would be a better bet.


professionals would disagree with you.

http://www.reuters.com/article/2014/07/03/philippines-property-idUSL3N0OG2QK20140703


I respectfully disagree with them despite not being "a professional." Don't forget, experts are often wrong (nobody really predicted the 2008 crisis) and well, I've seen condos go for as much as half a million dollars in certain parts of Manila, which is WAY overpriced. Don't forget, the Phils is STILL a Third World country, and it seems Northeast Asian investors are snapping up properties as opposed to American or European, which gives me cause for concern.

The Phils is still not that investment friendly (despite its faults, Korea is one of the few countries that allows foreigners to own land), and despite things improving on the business front, buyer beware.


http://harpers.org/archive/2008/02/the-next-bubble/
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