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Where do you keep your money and other assets? |
All or majority are in Korea. |
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29% |
[ 10 ] |
Split pretty equally between Korea and back home. |
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26% |
[ 9 ] |
All or majority are back home. |
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35% |
[ 12 ] |
Other (please specify) |
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8% |
[ 3 ] |
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Total Votes : 34 |
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ABC KID
Joined: 14 Sep 2007
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Posted: Fri Aug 13, 2010 1:34 am Post subject: Where do you keep your wealth? (Korea or back home) |
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This poll is primarily for the following:
1) F-visa holders
2) Non F-Visa holders who have been here for a long time.
So for those that do not mind answering, where do you keep your money and other investments? What is the thinking behind your choices? |
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Louis VI
Joined: 05 Jul 2010 Location: In my Kingdom
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Posted: Fri Aug 13, 2010 1:38 am Post subject: |
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Most of us are teaching on E-2 visas and send our money back home. Eight years of talking to other teachers has brought me to that conclusion. |
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Otherside
Joined: 06 Sep 2007
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Posted: Fri Aug 13, 2010 3:23 am Post subject: |
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Wealth is for rich people, as ESL teachers most of us talk about savings rather than Wealth
I keep most my money back home (S.A) recently started keeping some in Hong Kong.
Reasons against Korea.
1. Banking rules are extremely strict/anti-foreigner, most banks don't even like to give foreigners international ATM cards.
2. I like to invest, earning 3-5% isn't much of a return. Few options to invest in Korea, and VERY little information in English. I like to make informed decisions regarding funds/stocks, don't have that option in Korea.
3. Instability, the Won isn't very stable, sure if you ride out the bumps I think nothing crazy will happen, however, I'd hate to need my money urgently (buy a house, urgent medical expenses, etc) and need to sell my won at 1600/$
SA, scores well (for me) in reasons 1 and 2. Reason 3 is a concern, and as such, I've moved some funds into HK. |
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Daniel1981
Joined: 30 Dec 2009
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Posted: Fri Aug 13, 2010 10:51 am Post subject: |
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How can i delete this post? It's a dupe
Last edited by Daniel1981 on Fri Aug 13, 2010 11:11 am; edited 1 time in total |
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Daniel1981
Joined: 30 Dec 2009
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Posted: Fri Aug 13, 2010 11:10 am Post subject: |
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has anyone here done any trading while in korea? stocks, futures, options etc? Anyone doing it with a korean institution (data, broker, etc)? |
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BringTheRain
Joined: 26 Apr 2010
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Posted: Sat Aug 14, 2010 6:33 am Post subject: |
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Daniel1981 wrote: |
has anyone here done any trading while in korea? stocks, futures, options etc? Anyone doing it with a korean institution (data, broker, etc)? |
I was able to set up an account on an E2 visa with Samsungfn. I could trade Korean stocks online, there's like no commission. They gave me a check card too. |
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Who's Your Daddy?
Joined: 30 May 2010 Location: Victoria, Canada.
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Posted: Sun Aug 15, 2010 12:53 am Post subject: |
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I keep my money in Korea at KEB, but when the rates are good I change the won into a foreign currency account.
I get higher interest on my CDN$ and CHF accounts at KEB than in Canada. KEB has accounts in every currency that matters (not that Canada matters:)
Don't want to CDN taxman wanting it:) |
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working title
Joined: 20 Apr 2010
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Posted: Sun Aug 15, 2010 7:21 am Post subject: |
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Otherside wrote: |
Wealth is for rich people, as ESL teachers most of us talk about savings rather than Wealth
I keep most my money back home (S.A) recently started keeping some in Hong Kong.
Reasons against Korea.
1. Banking rules are extremely strict/anti-foreigner, most banks don't even like to give foreigners international ATM cards.
2. I like to invest, earning 3-5% isn't much of a return. Few options to invest in Korea, and VERY little information in English. I like to make informed decisions regarding funds/stocks, don't have that option in Korea.
3. Instability, the Won isn't very stable, sure if you ride out the bumps I think nothing crazy will happen, however, I'd hate to need my money urgently (buy a house, urgent medical expenses, etc) and need to sell my won at 1600/$
SA, scores well (for me) in reasons 1 and 2. Reason 3 is a concern, and as such, I've moved some funds into HK. |
Otherside, may I ask how you got set up with accounts in HK?
Did you do this online or do you have some connections there?
I'm also looking to open some accounts in HK. |
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