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bassexpander
Joined: 13 Sep 2007
Location: Someplace you'd rather be.
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 Posted: Wed Jan 09, 2008 10:50 pm Post subject: Financial advice please |
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I've got a chunk of cash in won right now. I just want to put it somewhere safe this year. Not looking for something aggressive. Am I better-off putting it in dollars while the rate is good, or should I keep it here, but in a Euro account?
I want it in a place where I can get to it quickly and easily.
My reasoning is that I'm getting the feeling that Korea might have some financial difficulty in the next year. |
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tzechuk
Joined: 20 Dec 2004
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| Posted: Thu Jan 10, 2008 1:03 am Post subject: Re: Financial advice please |
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| bassexpander wrote: |
I've got a chunk of cash in won right now. I just want to put it somewhere safe this year. Not looking for something aggressive. Am I better-off putting it in dollars while the rate is good, or should I keep it here, but in a Euro account?
I want it in a place where I can get to it quickly and easily.
My reasoning is that I'm getting the feeling that Korea might have some financial difficulty in the next year. |
Haha.. you will find that 50% Koreans will disagree with you over this. They voted Lee Myeong Bak to become the president because they BELIEVE he will do something about the economy!
Un-bloody-likely!
Don't know what to tell you, financial wise.. may be a fixed-term 6 month saving account? |
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seoulshock
Joined: 12 Jul 2005
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| Posted: Thu Jan 10, 2008 1:07 am Post subject: |
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| Why not go to a professional? Like me... if currency related, I would probably buy Japanese Yen calls -- but something safe. Hmm. How 'bout a bond fund? Are you American? Maybe a municipal bond fund? Maybe a REIT... I saw one the other day that paid 10%. |
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huffdaddy
Joined: 25 Nov 2005
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| Posted: Thu Jan 10, 2008 1:22 am Post subject: Re: Financial advice please |
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| bassexpander wrote: |
I've got a chunk of cash in won right now. I just want to put it somewhere safe this year. Not looking for something aggressive. Am I better-off putting it in dollars while the rate is good, or should I keep it here, but in a Euro account?
I want it in a place where I can get to it quickly and easily.
My reasoning is that I'm getting the feeling that Korea might have some financial difficulty in the next year. |
Where are you from and what are you going to eventually do with the money? |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Thu Jan 10, 2008 1:23 am Post subject: |
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| seoulshock wrote: |
| Why not go to a professional? Like me... if currency related, I would probably buy Japanese Yen calls -- but something safe. Hmm. How 'bout a bond fund? Are you American? Maybe a municipal bond fund? Maybe a REIT... I saw one the other day that paid 10%. |
Hey. Check out this place I ran into at Yahoo Finance yesterday. You can become a lender ( borrowers have to have good credit and it is checked) and you can lend as little as $50 person and get from 9 to 23%.
www.prosper.com
You can also borrow money but you better be positioned stateside and have an excellent credit file. |
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bassexpander
Joined: 13 Sep 2007
Location: Someplace you'd rather be.
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| Posted: Thu Jan 10, 2008 7:32 am Post subject: Re: Financial advice please |
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| huffdaddy wrote: |
| bassexpander wrote: |
I've got a chunk of cash in won right now. I just want to put it somewhere safe this year. Not looking for something aggressive. Am I better-off putting it in dollars while the rate is good, or should I keep it here, but in a Euro account?
I want it in a place where I can get to it quickly and easily.
My reasoning is that I'm getting the feeling that Korea might have some financial difficulty in the next year. |
Where are you from and what are you going to eventually do with the money? |
I am in Korea and planning to stay here 3 years more at least. |
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kingplaya4
Joined: 14 May 2006
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| Posted: Thu Jan 10, 2008 7:40 am Post subject: |
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| This prosper.com thing looks good, but my question would be, if these people have such great credit, why are they willing to pay 15% on a loan? Banks don't give more favorable terms than this? Is a car loan really that high of a rate from a dealer? |
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OneWayTraffic
Joined: 14 Mar 2005
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| Posted: Thu Jan 10, 2008 7:43 am Post subject: |
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| seoulshock wrote: |
| Why not go to a professional? Like me... if currency related, I would probably buy Japanese Yen calls -- but something safe. Hmm. How 'bout a bond fund? Are you American? Maybe a municipal bond fund? Maybe a REIT... I saw one the other day that paid 10%. |
The only problem with a REIT paying 10% is that you probably won't receive it when the people stop paying their mortgages and walk away from their homes.
Put your money in the bank in Korea for access. In your home country for security vs exhange rates.
IF you're not planning to use it for at least 10 years put it into the stockmarket, an index fund is best if you're needing advice. Very few people beat the indexs long term as trading fees and taxes take their tolls. |
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bobbyhanlon
Joined: 09 Nov 2003
Location: 서울
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| Posted: Thu Jan 10, 2008 10:09 am Post subject: |
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yen calls or reits are highly speculative. don't even go there if you are looking for a safe investment.
some kind of bond fund might be ok, since it looks like western economies are entering recession mode and interest rates will have to come down. |
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