Korean Job Discussion Forums

[davejohnson333]

Hello:


Can anyone tell me if there is a high yield offshore savings
plan for those of us who are making teaching a way of life
and realize that someday we will need some money to support
us in real old age ???



For those of us who plan on teaching a long time and are not
paying into any kind of social security plan back home and do
not plan on being in Korea but plan on moving around to other
countries I would think that some kind of mobile savings plan
would work? Anyone know about one?



I do not want to place my money back home where the dollar
is losing 10% a year and the mutual funds there only get about
10% a year and not even that. It is a losing investment.... and
so I need a savings plan with some investments that are in a
strong currency that will keep ahead of inflation.


Am I asking too much? It does not hurt to ask.


Thanks, David

[SirFink]

Are you an American? It matters.

The US dollar isn't losing 10% per year. An investment that returns 10% would be darn good, but you want more than that? Let me know when you find something that's guaranteed to be more than 10% per year and I'll start dumping my money into it.

[davejohnson333]

There are not too many investments that are "guaranteed to make 10%
per year" and sometimes the ones that have those kinds of track records
turn out to be ponzi schemes as seen in the Madoff (pronounced MADE
OFF) scandal. This man MADE OFF WITH (stole) about 50 billion dollars of the investors money.


What I am really looking for is something that invests with solid and
audited companies who submit their records to a third party accounting
group and also have decent returns from investments that are spread
around the world for diversification.


Dave Johnson

[Jeff's Cigarettes]

Me too...keep us posted if you discover anything! Good thread.

[big_fella1]

You raise a very important point. If you are under 40 you can forget getting a pension from almost any government.

Investments that offer a high return have a high risk. If anyone tells you that they are offering high return with low risk RUN.

Returns are the reward for taking risk. If you are 40 you can probably afford to take risks with some of your retirement savings but as you get older you should become more risk adverse. Unfortunately we have all been educated recently in currency risk.

I will watch this thread with interest. Thank you.

[freshking]

I know a guy who works with Royal Skandia.

www.royalskandia.com

They're based on the Isle of Man which is a tax haven. Some of my friends are investing with him. I decided not to because I'm American, and being an American comes along with some nasty taxes on worldwide income. I'm not going to give his contact info out on here because I'm not sure that's what he'd want, but check out the website and PM me if you're interested. I can probably put you in contact with him.[/url]

[poet13]

You can be eligible for retirement here after only ten years. 10 years is 50% pension. It won't kick in until you're about 63, and it's only a few hundred thousand won a month, but it is what it is....for life. You don't have to live here to collect it either.