Job Discussion Forums

moot point · Joined: 22 Feb 2005 Posts: 441

Okay folks...now that you have landed a job and settled yourself down in Japan, in what other ESL teachers working in other countries believe is the land of plenty, how are you making all those savings work for you?

JimDunlop2 · Joined: 31 Jan 2003 Posts: 2286 Location: Japan

Offshore (Swiss) investing firm set up by a broker in Tokyo..

moot point · Joined: 22 Feb 2005 Posts: 441

Which broker?

voodoochild · Joined: 04 Apr 2003 Posts: 80

Buy property

Mike L. · Joined: 28 Feb 2003 Posts: 519

moot point · Joined: 22 Feb 2005 Posts: 441

Why do you think property is a better investment?

And where do you think the property should be bought?

I have recently been in touch with an advisor about buying into a property trust in undeveloped land in Thailand. The advisor believes the property should double in value in five to seven years time when it is turned over to a developer. Any thoughts?

JimDunlop2 · Joined: 31 Jan 2003 Posts: 2286 Location: Japan

risky.

Very reminscent of scandals in the U.S. with unsuspecting buyers walking away with prime swampland.... Or undevelopped areas that have nothing in terms of septic/water. This can turn into a long wait to see any ROI.

Back in Canada, I put a deposit down on a beautiful piece of dirt & grass that was supposed to become a new condominium. Waited. Never did. Didn't lose my money, as it was refunded by the realty company.... But what a pain in the ass! And boy, you should've HEARD how convincingly optimistic everyone was, and how quickly they said this property would be snatched up and turned into high-priced condos..... Indeed.

Real estate is only good if you KNOW what you're getting into -- and not just taking someone's word on it. Also, make sure it isn't real estate in Japan. First, I don't think foreigners can OWN land here... Second, you really wouldn't want to. Houses in Japan depreciate... Unlike anywhere else I know....

Timuli · Joined: 10 Jan 2004 Posts: 51 Location: Saitama

Offshore mutual funds and stocks. If you're a relative newbie in the investing world ( like me), I've found the following books are very helpful to understand how things work (and easy to read for dummies like me):

Peter Lynch (very good writer): Learn to Earn (Very good book!), Beating the Street.
David Chilton: The Wealthy Barber (easy reading. Was recommended by several fincance guys to me. Especially useful for Americans. Told in the form of a fictional story, but the financial lessons are easily learned).
Common Stocks and Uncommon Profits by Philip Fischer is quite old but many people still rate it (Not as easy reading as the others though)
Just for some motivation try Rich Dad Poor Dad by Robert Kiyosaki (His other bokos leave a lot to be desired)

A very good website for finances and investing (They also have forums and good weekly letters on a variety of stuff) is the Motley Fool at www.fool.com

Mike L. · Joined: 28 Feb 2003 Posts: 519

moot point · Joined: 22 Feb 2005 Posts: 441

Jim, that was what I said to the advisor when I last spoke with him. He tried to alleviate my fears, but it just seems too iffy for me. I think I'd be happier and feel safer putting my money into a low-cap emerging market growth fund.

Thanks for the booklist Timuli. I recently read Rich Dad Poor Dad and with the popularity of this book lately I wonder if this is the reason people are suggesting real estate. I was also a bit disapointed with this book in its repetitions and the chapters on how to avoid paying taxes in the U.S. It simply isn't relative to a Canadian living abroad.

Do you know of any good books within that list, or any others, that would be more applicable to people like us living as expats without having a "home-base" now and unsure of where we might be in the future?