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?

saloc · Joined: 04 Jul 2003 Posts: 102

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

moot point · Joined: 22 Feb 2005 Posts: 441

Okay, perhaps I should be more direct in my original posting.

I have very little actual contacts with other expats as I'm living in a rural area. I came across Meyer Investments website during a search of other investing options to pursue. Do you know anything about this company?

After receiving a fair number of phone calls it seems to me that they are desparate for business. The fellow I talked with is always bragging about how much more money he has himself to invest than myself (as well as giiving me the tune of "it's really not worth it to me to help you, as I have other clients who are looking to invest millions of dollars) and tried to first turn me on to the Thai deal.

After I hesitated he sent a brochure for regular investment plans with Zurich (in mutual funds), which I assume he does with all potential clients.

I still didn't take the bait so he calls me a week later and I tell him I'm weary about the property investment in Thailand although he assures me it's a sure winner. For all those who've bought into it I hope it is, but I think I'll put my money elsewhere.

Then he asked my thoughts about the regular monthly investment plan offered by Zurich. For myself, I like to have a bit more freedom in which funds to invest in and I enjoy watching the market in search of favourable exchange rates and stock prices (although most business magazines will always claim the individual investor will lose by doing it themselves...but this is my hobby so I don't really care if I miss out on a percent or five over the year).

So anyway, when he couldn't turn me on to anything else he gave me the whole need for life insurance pitch. And while my patience was being tried he couldn't understand the anxiety in my tone or the background noise over the phone while my kid was crying to get out of his bath, he tried to set me up with a "will".

I don't want to say his approach is wrong, I'm just curious to know if this company is reputable. I personally wasn't impressed but I'd like to get a feel of other's opinions who'Ve dealt with them.

PAULH · Joined: 28 Jan 2003 Posts: 4672 Location: Western Japan

moot point · Joined: 22 Feb 2005 Posts: 441

Thanks for the reply, PaulH.

I have to agree with you that the financial advisors (although Rich Cayne at Meyers is the only one I've been in touch wich) seem worse than U.S. used car dealers but more like the used car dealers here in Japan that try to push a car with no shaken on it.

So anyway, Paul, give me some insights on how you've chosen to invest.

As for myself I played in the forex markets for several years using many millions of yen and in the end I finally came ahead about 70,000yen.

At first, maybe alll the zeros look impressive but it was a very poor return of less than a percent or two in the end.

Since then I started investing in offshore funds (through BIG reputable financial institutions/banks) and I've seen a real increase of about three and a half percent so far.

I think I should be able to better than this, but I need to talk to someone and share some ideas. Is there anybody out there?