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| How much money do you reasonably plan to have saved up/invested when you eventually leave Korea |
| US$0-50,000 |
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25% |
[ 13 ] |
| US$50,001-100,000 |
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13% |
[ 7 ] |
| US$100,000,-250,000 |
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13% |
[ 7 ] |
| US$250,001-500,000 |
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17% |
[ 9 ] |
| US$500-001-1 million |
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30% |
[ 16 ] |
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| Total Votes : 52 |
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PRagic
Joined: 24 Feb 2006
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 Posted: Sun Jan 10, 2010 8:09 pm Post subject: |
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| The last category X 2+. We'll see. |
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Mr. Pink
Joined: 21 Oct 2003
Location: China
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| Posted: Sun Jan 10, 2010 9:07 pm Post subject: |
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| Sadebugo1 wrote: |
I hate to be a wet blanket but relying on one's investment acumen for retirement purposes is risky. I know guys who spent 20 years in the Middle East and saved every penny but didn't have enough to retire comfortably in the end. One million dollars sounds like a lot but doesn't cover the longer life spans today and unexpected costs in retirement. I say get out of there while you're young and find a job with some sort of retirement benefits.
Sadebugo
http://travldawrld.blogspot.com/ |
This is what I am worried about. I am pretty sure I won't be one of those long living people, but still even living to 70-75 means 10-15yrs of post retirement living.
I plan to have a house paid for by the time I am 50, so that gives me 10~15 years to save up enough to live in said house after retirement. |
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Rusty Shackleford
Joined: 08 May 2008
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| Posted: Sun Jan 10, 2010 9:57 pm Post subject: |
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My plan is to purchase the family homestead. I will be the 3rd generation of my family to live in it. And have passive income from other sources that equal something like a million won a week. That way I can fill in my day as I see fit as well as supply teach if I feel like it.
I want to have this done by the time I'm 35. But if I'm half way there by then, I will still be ahead of the curve compared to the rest of the population. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Mon Jan 11, 2010 12:04 am Post subject: |
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| I'm not looking forward to when people in my age group retire. With inflation , public and private sector mismanagement of pension funds, and questionable economy and job prospects. It's going to be tough for most in their 30's, or younger, to retire comfortably. |
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naturegirl321
Joined: 18 Jul 2006
Location: Home sweet home
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| Posted: Mon Jan 11, 2010 10:12 am Post subject: |
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| Sadebugo1 wrote: |
| I hate to be a wet blanket but relying on one's investment acumen for retirement purposes is risky. I know guys who spent 20 years in the Middle East and saved every penny but didn't have enough to retire comfortably in the end. One million dollars sounds like a lot but doesn't cover the longer life spans today and unexpected costs in retirement. I say get out of there while you're young and find a job with some sort of retirement benefits. |
I hope to God I don't live so long. After watching my grandparents suffer from heart disease, cancer, high blood pressure, cholestorol, etc, I have no desire to live so long. A long life doesn't mean a good life, the last time I saw my grandmother she was begging to die.
That's not life.
As for me, I plan on saving up in Korea and buying an apartment for about 120K here in Peru, then charging 2K a month for rent. LIving off that, maybe in Romania, |
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Sadebugo1
Joined: 11 May 2003
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| Posted: Mon Jan 11, 2010 4:10 pm Post subject: |
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| naturegirl321 wrote: |
| Sadebugo1 wrote: |
| I hate to be a wet blanket but relying on one's investment acumen for retirement purposes is risky. I know guys who spent 20 years in the Middle East and saved every penny but didn't have enough to retire comfortably in the end. One million dollars sounds like a lot but doesn't cover the longer life spans today and unexpected costs in retirement. I say get out of there while you're young and find a job with some sort of retirement benefits. |
I hope to God I don't live so long. After watching my grandparents suffer from heart disease, cancer, high blood pressure, cholestorol, etc, I have no desire to live so long. A long life doesn't mean a good life, the last time I saw my grandmother she was begging to die.
That's not life.
As for me, I plan on saving up in Korea and buying an apartment for about 120K here in Peru, then charging 2K a month for rent. LIving off that, maybe in Romania, |
Sounds like a plan. I may have to take up skydiving when I hit 70.
Sadebugo
http://travldawrld.blogspot.com/ |
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jlb
Joined: 18 Sep 2003
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| Posted: Mon Jan 11, 2010 4:49 pm Post subject: Online Discount Brokerage |
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Hey, this might be helpful to some who are checking out this thread. I've found an American online brokerage that will let me (a Canadian) invest in the markets, while I'm here in Korea. It's called Sogotrade. It's $3/trade, which is cheaper than some of the other companies such as E-trade.
If you take my tip, please sign up through my link and I get 25 free trades. I'll buy you a beer or something.
https://www.sogotrade.com/Setup/Default.aspx?rf=543925 |
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4seasons
Joined: 25 Mar 2007
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| Posted: Sun Feb 27, 2011 7:20 pm Post subject: Tax |
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| The new tax laws are not helping!!! |
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Ramen
Joined: 15 Apr 2008
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| Posted: Sun Feb 27, 2011 8:51 pm Post subject: Re: Tax |
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| 4seasons wrote: |
| The new tax laws are not helping!!! |
i'm still happy. it's still far less than what i would pay back home.  |
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Who's Your Daddy?
Joined: 30 May 2010
Location: Victoria, Canada.
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| Posted: Sun Feb 27, 2011 9:30 pm Post subject: |
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^^ 1 Mil not enough? How much do you think normal pension schemes provide?
I see a financial product sold by insurance company's in Canada. You invest $100,000 it guarantees $640/month from 65 to death.
Basically I think you need your house owned and about $500,000 USD.
But I am planning on retiring in Korea or Malaysia. Somewhere with lower living costs than Canada. |
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Leon
Joined: 31 May 2010
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| Posted: Sun Feb 27, 2011 9:45 pm Post subject: |
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| Does anybody in their early 20's save for retirement? Theoretically I suppose I should start, but of course it makes sense to pay off my (very small) debt first. Not sure I care enough to put away money for 40+ years down the road. I am trying to save money here so that when I get back I can afford things downpayments on an apartment and utilities along with having some breathing room in terms of searching for a job. |
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West Coast Tatterdemalion
Joined: 31 Aug 2010
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| Posted: Sun Feb 27, 2011 10:04 pm Post subject: |
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Yeah, the only sucky thing with your plan is that by the time you have access to the money, can retire and live in the tropics, you will be in your late 60's, early 70's. In other words, you will be old. Save money and be mindful of the future, but not at the expense of the moment.  |
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Skyblue
Joined: 02 Mar 2007
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| Posted: Sun Feb 27, 2011 10:48 pm Post subject: |
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| Inheritance is my retirement plan. |
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