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IS KOREA REALLY A GOOD PLACE TO RETIRE ?!?

 
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kangnam mafioso



Joined: 27 Jan 2003
Location: Teheranno

PostPosted: Fri Aug 15, 2003 12:11 am    Post subject: IS KOREA REALLY A GOOD PLACE TO RETIRE ?!? Reply with quote

unless you plan to retire here, what do you plan to do after korea?

i'm not dissing any of the lifers, but just curious. i've been here two years and will be heading back in september. i have a b.a. in english and an m.a. in literature. i'm not really qualified to do anything, including teaching high school english (not certified). i have 2 years of sporadic journalism and professional writing/editing experience. i have 2 years of teaching experience (graduate composition instructor at a university). but the job market is so lame in the states ... literally people with a phd in english from harvard teaching at bum**** nebraska community college. but, i guess that's my plan. try to find a teaching position in a high school or 2-year college or get back into journalism. if things don't go well, i'll probably come back to asia or the middle east (or an international high school in europe). enough about my plan ... what about yours?

ciao--------[/i]
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beast



Joined: 28 Jan 2003

PostPosted: Fri Aug 15, 2003 4:27 am    Post subject: plan to retire in korea Reply with quote

I'll be here forever. I used to think that I'll just do one more year and that'll be it, but I always find myself back here for one reason or another. After your fourth or fifth year you stop making excuses for being here and just accept your fate. I have no marketable talents back home. I like it here. I manage to save a little each month. I have a lot of time to myself. In my first couple of years I kept thinking that this was a means to an end and I better get my ass back to the so called real world before I create too big a hole in my resume. Now I just accept the fact that this is my job and this is my home and this is my life. Once you accept that, you will enjoy yourself a lot more here. Now I'm only 29 so perhaps my opinion will change sometime in the future, but I have been doing this now for six years and probably will do another ten at least. This job keeps you young too. I've really noticed that. I drink and smoke as much as everyone else out there, but I exercise everyday and have fun with the kids. So it's virtually stress free for me and that makes a big difference. I live here for the lifestyle, not the money, certainly not for recognition or fame. The lifestyle is great for a lot of us and so we decide to make a life out of it.
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Homer
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PostPosted: Fri Aug 15, 2003 4:34 am    Post subject: Reply with quote

The plan is simple...and seems to be working...lol

We plan to eventually retire or move back to Canada.
After my second year here, we bought a house in Canada and have been renting it ever since. With our savings rate it will be all paid in about 10 years...oh my wife just said 9 years left.
We took a high morgage but since its rented and with our savings its paying itself off faster than we expected.
When the house is paid and the kids are ready for high school we will think about moving back to Canada.
By that time we will have ample savings. We are investing our money and are saving a lot each month so no worries there.
As for work, we have allready started working on it.
I do a bit of consulting allready for Canadian and Korean companies wishing to do business in each others country.
My wife can teach, she is certified and that can be transfered when we move to Canada.
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Cthulhu



Joined: 02 Feb 2003

PostPosted: Fri Aug 15, 2003 5:11 am    Post subject: Reply with quote

Homer,

Out of curiosity (as it seems to be a good idea) how do you keep tabs on your rental place while you are living in Korea? Also, any problems with non-resident taxes on your rent earnings (assuming you are a non-resident) or other expenses?
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weatherman



Joined: 14 Jan 2003
Location: Korea

PostPosted: Fri Aug 15, 2003 5:24 am    Post subject: Re: plan to retire in korea Reply with quote

beast wrote:
I'll be here forever. I used to think that I'll just do one more year and that'll be it, but I always find myself back here for one reason or another. After your fourth or fifth year you stop making excuses for being here and just accept your fate. I have no marketable talents back home. I like it here. I manage to save a little each month. I have a lot of time to myself. In my first couple of years I kept thinking that this was a means to an end and I better get my ass back to the so called real world before I create too big a hole in my resume. Now I just accept the fact that this is my job and this is my home and this is my life. Once you accept that, you will enjoy yourself a lot more here. Now I'm only 29 so perhaps my opinion will change sometime in the future, but I have been doing this now for six years and probably will do another ten at least. This job keeps you young too. I've really noticed that. I drink and smoke as much as everyone else out there, but I exercise everyday and have fun with the kids. So it's virtually stress free for me and that makes a big difference. I live here for the lifestyle, not the money, certainly not for recognition or fame. The lifestyle is great for a lot of us and so we decide to make a life out of it.


Wow, well said, couldn't have done it better myself.
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Homer
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PostPosted: Fri Aug 15, 2003 10:37 am    Post subject: Reply with quote

Cuthulu,

The house is taken care of by a friend of mine who owns a few duplexes.
If a problem arises the tenants call him, he fixes it.
I pay him a fee everymonth to do this.
As for the taxes, well the house is not in my name...and thats quite enough information... Exclamation Wink But really we own it but its not in our name.
The rent revenue goes to the morgage payments.
The other expenses are just the normal expenses for maintaining a property...
It is a good plan indeed.... Wink
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Cthulhu



Joined: 02 Feb 2003

PostPosted: Fri Aug 15, 2003 7:03 pm    Post subject: Reply with quote

Yes, good indeed. Thanks for the info.
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