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Eedoryeong
Joined: 10 Dec 2007
Location: Jeju
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 Posted: Mon Sep 08, 2008 2:31 am Post subject: What to do with one's money... |
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Well this summer I started an investment account back home and that seems to have been a bad idea the way the markets are going.
Any economy-savvy people out there care to help me compare arguments for
1) simply putting the Won in a chequing account and sitting on it for a few years,
vs.
2) squirreling it away in a western locked-term investment account, and taking the hits in currency exchange, falling rates be damned?
I have the option to do both, and maybe even start a third fund this year, but can't see if the market actions are so costly that they actually make a normal savings account look good or not.
Looking at Nonghyup CDs. What are some of you happy investors doing? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Sep 08, 2008 5:10 am Post subject: Re: What to do with one's money... |
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| Eedoryeong wrote: |
Well this summer I started an investment account back home and that seems to have been a bad idea the way the markets are going.
Any economy-savvy people out there care to help me compare arguments for
1) simply putting the Won in a chequing account and sitting on it for a few years,
vs.
2) squirreling it away in a western locked-term investment account, and taking the hits in currency exchange, falling rates be damned?
I have the option to do both, and maybe even start a third fund this year, but can't see if the market actions are so costly that they actually make a normal savings account look good or not.
Looking at Nonghyup CDs. What are some of you happy investors doing? |
short term the money market funds (mutual funds) are taking hits all over the place as the US economy gets smacked around.
The markets will stabilize and you can expect modest returns from most funds in the mid term (more than a year) and back to historical growth in the longer term. I personally think the China funds will continue to climb (in spite of the current bump) over the long haul as will those in other fast developing economies like India.
If you are talking about short term, then certificates of deposit, term deposits and the like are your best bet (paying 3-7% depending on whether you save here or at home).
Will the won drop more than 7% over the next year? Depends on which currency you base your exchange against. It has stayed fairly stable against the other Asian currencies, fluctuated widely against the US dollar, fallen substantially against the CAD (the CAD has actually climbed substantially against many currencies) and I don't know about the Euro or pound sterling.
Sorry that there is no definitive answer for you based on your cursory posting above. It really does depend on your short term growth necessity, long term growth plans and risk factors / how risk tolerant you are.
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DCJames
Joined: 27 Jul 2006
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| Posted: Mon Sep 08, 2008 5:26 am Post subject: Re: What to do with one's money... |
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| ttompatz wrote: |
| Eedoryeong wrote: |
Well this summer I started an investment account back home and that seems to have been a bad idea the way the markets are going.
Any economy-savvy people out there care to help me compare arguments for
1) simply putting the Won in a chequing account and sitting on it for a few years,
vs.
2) squirreling it away in a western locked-term investment account, and taking the hits in currency exchange, falling rates be damned?
I have the option to do both, and maybe even start a third fund this year, but can't see if the market actions are so costly that they actually make a normal savings account look good or not.
Looking at Nonghyup CDs. What are some of you happy investors doing? |
short term the money market funds (mutual funds) are taking hits all over the place as the US economy gets smacked around.
The markets will stabilize and you can expect modest returns from most funds in the mid term (more than a year) and back to historical growth in the longer term. I personally think the China funds will continue to climb (in spite of the current bump) over the long haul as will those in other fast developing economies like India.
If you are talking about short term, then certificates of deposit, term deposits and the like are your best bet (paying 3-7% depending on whether you save here or at home).
Will the won drop more than 7% over the next year? Depends on which currency you base your exchange against. It has stayed fairly stable against the other Asian currencies, fluctuated widely against the US dollar, fallen substantially against the CAD (the CAD has actually climbed substantially against many currencies) and I don't know about the Euro or pound sterling.
Sorry that there is no definitive answer for you based on your cursory posting above. It really does depend on your short term growth necessity, long term growth plans and risk factors / how risk tolerant you are.
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Is there anyway to open up a CD in a US bank from Korea?
I don't have a US bank account any longer and I don't plan on visiting the US anytime soon to open one up. |
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Eedoryeong
Joined: 10 Dec 2007
Location: Jeju
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| Posted: Wed Sep 10, 2008 1:18 am Post subject: Re: What to do with one's money... |
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| ttompatz wrote: |
short term the money market funds (mutual funds) are taking hits all over the place as the US economy gets smacked around.
The markets will stabilize and you can expect modest returns from most funds in the mid term (more than a year) and back to historical growth in the longer term. I personally think the China funds will continue to climb (in spite of the current bump) over the long haul as will those in other fast developing economies like India.
If you are talking about short term, then certificates of deposit, term deposits and the like are your best bet (paying 3-7% depending on whether you save here or at home).
Will the won drop more than 7% over the next year? Depends on which currency you base your exchange against. It has stayed fairly stable against the other Asian currencies, fluctuated widely against the US dollar, fallen substantially against the CAD (the CAD has actually climbed substantially against many currencies) and I don't know about the Euro or pound sterling.
Sorry that there is no definitive answer for you based on your cursory posting above. It really does depend on your short term growth necessity, long term growth plans and risk factors / how risk tolerant you are. |
Hi
well I've got no short-term growth needs, I can project as far as five years if it's better (although I speculate 1-3 years would give me more control to reinvest) and I'd be basing the rate against the CAD. So as the Canadian dollar's been rising steadily *and* the Won's falling I imagine avoiding any near-future wires home is best.
So based on what you said I guess minimum one-year investments or certificates of deposit are my best bet, longer if I can do it (which I can.)
I get the impression that CDs perform way better here than in banks back home.
Most folks here are not thinking past a year or two, so I wonder what other attractive investment options there are for waygookin here for 3, 4 or 5 years? |
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the foystein
Joined: 23 Apr 2007
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| Posted: Wed Sep 10, 2008 1:31 am Post subject: |
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| First have six months income in a bank account, once you reach that point you have to decide your goals. Once you have goals you can then make investment decisions. |
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