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What are you teaching this year?
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Zero



Joined: 08 Sep 2004
Posts: 1402
PostPosted: Sat Sep 01, 2007 8:05 pm    Post subject: Reply with quote
eslstudies wrote:
You won't fund retirement doing what you are now.


Is that true? In theory if a person were making enough money couldn't one put, say, 5,000 yuan a month into their own diversified portfolio and come out all right given enough years?
Incidentally, curious as to how old you are, esltudies?
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eslstudies



Joined: 17 Dec 2006
Posts: 1061
Location: East of Aden
PostPosted: Sat Sep 01, 2007 8:56 pm    Post subject: Reply with quote
Zero wrote:
eslstudies wrote:
You won't fund retirement doing what you are now.


Is that true? In theory if a person were making enough money couldn't one put, say, 5,000 yuan a month into their own diversified portfolio and come out all right given enough years?
Incidentally, curious as to how old you are, esltudies?


Given that many China FT's would struggle to earn 5000 a month, let alone save it, that's a purely academic point. Even if they could, it would only fund a third world retirement. I've saved into a fund for 30 years, with employer contributions as well, something that China will never catch on to.

And feel free to remain curious. I worked with FTs several years older than me who had nothing at home: no house or savings, and were living from month to month in China. Personally, I find that frightening, especially given they were rapidly approaching their EFL "use by" dates, which for most would be mid-sixties.
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mandu



Joined: 29 Jul 2004
Posts: 794
Location: china
PostPosted: Sat Sep 01, 2007 11:17 pm    Post subject: Reply with quote
Iam teaching kindergarten children
Iam at the same kindergarten (been at the kindy for almost 3 years)
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Anda



Joined: 16 Jan 2003
Posts: 2199
Location: Jiangsu Province
PostPosted: Sat Sep 01, 2007 11:31 pm    Post subject: Um Reply with quote
Ah, but Eslstudies things can go wrong even for you!

"My father was a lawyer," says Walter Levy, an internationally known German-born oil consultant in New York, "and he had taken out an insurance policy in 1903, and every month he had made the payments faithfully. It was a 20-year policy, and when it came due, he cashed it in and bought a single loaf of bread."
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eslstudies



Joined: 17 Dec 2006
Posts: 1061
Location: East of Aden
PostPosted: Sun Sep 02, 2007 1:13 am    Post subject: Re: Um Reply with quote
Anda wrote:
Ah, but Eslstudies things can go wrong even for you!

Not in this case Anda. An indexed government pension at 60% of my retirement salary, continuing to my wife should she outlive me, which is highly likely.
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Anda



Joined: 16 Jan 2003
Posts: 2199
Location: Jiangsu Province
PostPosted: Sun Sep 02, 2007 3:04 am    Post subject: Um Reply with quote
Yep. you can trust the government!

http://www.anklebitingpundits.com/content/index.php?p=1997



Pension - Wikipedia, the free encyclopediaIn almost all developed countries this means that government and public sector pensions could collapse their economies unless pension systems are reformed ...
en.wikipedia.org/wiki/Pension - 70k -
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vikuk



Joined: 23 May 2007
Posts: 1842
PostPosted: Sun Sep 02, 2007 3:37 am    Post subject: Reply with quote
Regardless of where your pension scheme is situated - what can be said for sure - is that in the normal, non-international school, China EFL job - that anything to do social security (retirement, unemployment etc - maybe you'll get a small amount of medical coverage) - is very much the FT's business (and what a difficult business this can be on an average "low-rate" China FT salary). This is one of the reasons why being a China FT has not really caught on as a popular career with qualified teachers!!!!

But then again - look on the bright side - you can always read "feel-good" threads like this. Nothing like start of term optimism as we look-forward to another school year of being the white cash-cow - and indeed for those who hold no real qualification for this job - playing at being a real-life teacher. I wonder how many will last to next summer Laughing Laughing Laughing
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Jamchuan



Joined: 09 Mar 2005
Posts: 171
Location: Kingston, Atlanta, Chengdu
PostPosted: Sun Sep 02, 2007 6:20 am    Post subject: Reply with quote
First of all, I am still in the process of returing to China after a long vacation(almost 2 years!). Gave notice to my nice position at a very very nice world relief organization and now my 'international' school is telling me to be patient as they and some foreign bureau ready my documents.........work permit and invitation on the way.....

And the best part.....my job title is no longer ESL teacher. I am moving up?! Who knew?! Its 20 hours a week and I work with mostly with foreign kids. I hear they are brats but guess what? The money is decent and I get to move back to move Chinese hometown. Very Happy
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