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Why So Much Talk About Making A Lot of Money In Taiwan?
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drewteacher



Joined: 03 Oct 2005
Posts: 62

PostPosted: Thu Aug 24, 2006 4:07 am    Post subject: Re: Why So Much Talk About Making A Lot of Money In Taiwan? Reply with quote

trukesehammer wrote:


drewteacher wrote:
...Can someone help me understand why there's so much talk about making/saving money in Taiwan?


Smile Hi there! Smile

Well, you certainly do ask a mighty good question and I've been thinking about it a great deal these days, now that I'm vacationing in Cambodia. And as I rode the bus to and from the cute little beach town of Sihanoukville, the thought suddenly struck me-- ummm, rather than lecture, let me see if I can reconstruct a typical budget from my life back in South Dakota & Iowa...

Quote:

MY SALARY (GROSS) ........$1300.00

RENT ..............................$ 250.00
FOOD ..................................95.00
KIDS' MAINTENANCE ...........300.00
TUITION .............................300.00
GASOLINE ...........................150.00
CAR INSURANCE ...................40.00
CREDIT CARD BILLS .............200.00
ENTERTAINMENT .....................20.00
TOILETRIES ............................25.00
MISC ....................................100.00
___________________________________

GRAND TOTAL EXPENSES ........1480.00


Keep in mind that my apartment in South Dakota was "all-utilities-paid," including cable and T1 internet. Now my kids are all grown up (19 & 21) but I still send them money now & then. Also keep in mind that we kelian de, impoverished schmucks who venture over to Taiwan often leave behind a slew of creditors, and I am no exception (in my case, I made it look like I disappered in the tsunami). So let's look at my current budget while in Taiwan...

Quote:

MY SALARY (BASE) .............................................NT$66,000

RENT ........................................................................$ 7,000
FOOD ........................................................................12,000
KIDS' MAINTENANCE ..................................................3,000
GASOLINE ....................................................................300
CAR INSURANCE & TAXES .........................................2,000
ENTERTAINMENT ...........................................................500
TOILETRIES ...................................................................500
TRIPS TO SEE MY HONEY IN TAINAN ............................2000
PROGRESS ON MY EXPERIMENTAL ELECTRIC CAR .........2000
MISC ..............................................................................1000
_______________________________________________________________________

GRAND TOTAL EXPENSES ............................................30,300
I SAVE .....................................................................35,700


My apologies for the sucky math and screen formatting skills. Embarassed This is precisely why I became an English major as opposed to the more lucrative professions. Cool Nevertheless, if my typical compatriots live as "dangerously" as I, it becomes apparent why we're always banging the "WE SAVE BIG MONEY IN TAIWAN" gong.

Hope this helps! Smile


You don't account for taxes. Granted, even at 20% tax, you're still saving around 20,000. I'm curious about 2 things...what kind of apartment (and where) do you have for 7,000 and how are you able to spend only 500/mo on entertainment?
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trukesehammer



Joined: 25 Mar 2003
Posts: 168
Location: The Vatican

PostPosted: Thu Aug 24, 2006 11:32 am    Post subject: Reply with quote

Quote:
You don't account for taxes. Granted, even at 20% tax, you're still saving around 20,000. I'm curious about 2 things...what kind of apartment (and where) do you have for 7,000 and how are you able to spend only 500/mo on entertainment?


Confused You got me there! I sure didn't account for taxes (mine are a whopping 6 or 8% --I forget because the girlfriend handles all the money & math), nor did I account for the extra under-the-table dough from tutorials, overtime courses, and "supplemental" duties. I reckon they add another 10K to my monthly salary. Cool

As for my "apartment," it's more like a big dorm with attached private bathroom. I'm happy with it because it's on Yangming Mountain, in a quiet neighborhood and within walking distance of work. My only problem is, as Bed Bath & Beyond explains, I have no clue on how to decorate it.



Ummm, entertainment~ a movie or 2 per month is about it for me. No bars, thank you very much. Although I do spend a lot of money schmoozing with buddies in coffee & tea houses (maybe I should add an extra $3000 for that). At any rate, perhaps this is a testament to what a boring life I lead. Sad
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Dr Disco



Joined: 19 Jan 2003
Posts: 51
Location: wandering around town

PostPosted: Thu Sep 14, 2006 2:33 pm    Post subject: Reply with quote

The entire deal sounds much better than the job I had in Korea. I saved 10,000 USD in 16 months (with privates) but it was cold, the work place was a political nightmare worhty of a soap opera, and to date it has been the most boring country I've ever travled to.

Many people came to Korea from Taiwan, and all of them complained a great deal about it. Granted, most said they hated the weather, and they loved the winters in Korea, and they loved to drink.

Has anyone ha the opposite experience (that is, left Korea and prefers Taiwan)?

I am considering the newbie hookup (with a sort of reputable recruiter). I have a lot of teaching experience in SE Asia, Korea, and North America. Even with less savings than Korea, Taiwan sounds much better.
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BigWally



Joined: 07 Jun 2006
Posts: 765
Location: Ottawa, CAN (prev. Kaohsiung "the Dirty South")

PostPosted: Fri Sep 15, 2006 4:07 am    Post subject: Reply with quote

i have some new friends who arrived in Taiwan a few weeks before my gf and I, and they had spent the previous year teaching in Korea...

from what i've heard they dont have much good to say about Korea other than the fact that the kids were cute...all of the conversations seem to go that way, other than that it seems like they didnt really enjoy themselves, and these are 2 of the most laid back, chill people i've met...they enjoy hiking and outdoors activities on a regular basis....they have told me that they enjoy Taiwan 10 fold over Korea....

just one 2nd hand personal opinion, but I hope it helps!

Ganbei! Surprised
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KaiFeng



Joined: 19 Sep 2006
Posts: 89
Location: At the top of the food chain.

PostPosted: Wed Sep 20, 2006 2:35 am    Post subject: Reply with quote

In fact, it's possible to make a great amount of money in Taiwan, if you approach it correctly. I taught there from 1979-1998, and by the end of that time I was making over $100,000 a year (in 1998 dollars). The thing is, you have to approach it as a business/consulting, you have to approach it as a profession, and you have to know how to work with the corporate market.

Plus, you have to think outside the box, and not only think about pu-hsi-pans. Pu-hsi-pans have their place, as a pool for recruiting and developing clients and connections, but they should only be the beginning of your teaching career, not the be-all and end-all.
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Taylor



Joined: 24 Oct 2003
Posts: 384
Location: Texas/Taiwan

PostPosted: Thu Sep 21, 2006 3:46 am    Post subject: Reply with quote

Congratulations, Kaifeng!

You were making more MONEY than 99.4 percent of the people in Taiwan.

Thanks for mentioning that it took you 20 years to get to that level---you wrote 1979.....was that not a typo?

Now let's get back to reality!

Most teachers here can sock away about one thousand USD every month. How many folks living and working in the good old USA are doing that?

Taylor
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KaiFeng



Joined: 19 Sep 2006
Posts: 89
Location: At the top of the food chain.

PostPosted: Thu Sep 21, 2006 4:36 am    Post subject: Reply with quote

Many thanks, Taylor, it's always a pleasure to hear from people in the field. Indeed, I started in 1979; it was towards at the end of my 19 years that I had reached that level of income. After coming back to the US, I career-shifted into IT, and now do IT infrastructural engineering for a big pharma. My salary is in the mid-90s, alas, not up to what it was back in Taiwan. But those are the things we do for our families. I still do training, both in IT and at community colleges.

Please note my post in one of the other related threads about making money in Taiwan. After my first eight ot ten years, I never referred to myself as an "English teacher", so comparing my income with theirs is misleading. I always presented myself as a consultant or staff development specialist. When you stop limiting yourself with a label, then you can start making more. It makes more sense to compare my income then with the income of other business consultants.

I don't know where you are professionally, Taylor, and can only speak from my own experience. In my first few years, I wasted my time in pu-hsi-pans and helped run one. Sure, if I had stayed as a wage-slave, I would have had a hard time saving much. When I went off on my own and started marketing and negotiating on my own behalf, then things started to happen. Give it a shot; you have nothing to lose but your chains!



Taylor wrote:
Congratulations, Kaifeng!

You were making more MONEY than 99.4 percent of the people in Taiwan.

Thanks for mentioning that it took you 20 years to get to that level---you wrote 1979.....was that not a typo?

Now let's get back to reality!

Most teachers here can sock away about one thousand USD every month. How many folks living and working in the good old USA are doing that?

Taylor
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markholmes



Joined: 21 Jun 2004
Posts: 661
Location: Wengehua

PostPosted: Thu Sep 21, 2006 5:56 am    Post subject: Reply with quote

Refering to pu-hsi-pans (I have never seen it written in Wade Giles) and ELSI (who have been called Kojen since 1999) makes you sound out of date and out of touch.
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KaiFeng



Joined: 19 Sep 2006
Posts: 89
Location: At the top of the food chain.

PostPosted: Thu Sep 21, 2006 11:12 am    Post subject: Reply with quote

I understand why you might feel this way, Mark. Fortunately, my choice of romanization (points for recognizing it nonetheless!), and my choice of terminology for one particular school system are absolutely irrelevant to the validity of my point, as I am sure you will agree. My point is that people in this business can be very financially successful. In one of the other threads I have started sharing some principles I used to do this.

Thanks, though, for pointing out ways to improve the surface appearance (as oppose to the substance). Perhaps this is where you yourself have been most successful.

markholmes wrote:
Refering to pu-hsi-pans (I have never seen it written in Wade Giles) and ELSI (who have been called Kojen since 1999) makes you sound out of date and out of touch.
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Dr Disco



Joined: 19 Jan 2003
Posts: 51
Location: wandering around town

PostPosted: Fri Sep 22, 2006 6:18 am    Post subject: Reply with quote

So, it is realistic (after the first few months of expesnses) to save about 600 USD a month? Is that the low down on saving from a 60,000 NT a month job?
Or is 600 USD a month what you would save if you never go out, see movies, do privates, etc?

On an unrealated note, what is the situation with art in Taiwan? Is there suport for it in Taipei (musuems, univesity events, etc) or is it dead?
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KaiFeng



Joined: 19 Sep 2006
Posts: 89
Location: At the top of the food chain.

PostPosted: Fri Sep 22, 2006 11:08 am    Post subject: Reply with quote

This depends on your lifestyle, really. If you max out your schedule, take on lots of private clients, and aggressively look for other opportunities (editing, translation, writing, etc.) it should not be difficult at all.


Dr Disco wrote:
So, it is realistic (after the first few months of expesnses) to save about 600 USD a month? Is that the low down on saving from a 60,000 NT a month job?
Or is 600 USD a month what you would save if you never go out, see movies, do privates, etc?

On an unrealated note, what is the situation with art in Taiwan? Is there suport for it in Taipei (musuems, univesity events, etc) or is it dead?
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