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Daelim
Joined: 18 Jun 2011
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 Posted: Sat Jul 02, 2011 6:28 am Post subject: Staying Long Term And Beating Inflation At Home |
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What a thread for a Saturday night, eh? Well I'm out the game with toothace so my mind has wandered to more serious topics 
I'm wondering what you long termers do with regards to savings. My wife to be and I are planning on spending another few years here with a view to paying outright for a house at home when finished. However, it's fine saying things like "Save $2500 a month for 5 years and add severance taking savings to around $170,000," right?
Say we save $30-$35,000 a year, what is the best thing to do with that money? If we put it into an account at home, will it still be worth the same in 5-7 years or will inflation put a dent in it?
Is it best to keep it in Korea and exchange it at the end in one lump sum or is there another way to make these long term savings monies work for us? Investing in property with a mortgage is not something we are willing to do and we hope to never have to be saddled with one in the future so that avenue is out
TIA! |
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Friend Lee Ghost
Joined: 06 Jun 2011
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| Posted: Sat Jul 02, 2011 7:38 am Post subject: |
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| Buy gold or hyperinflation will leave you broke. |
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Theme
Joined: 06 Jun 2009
Location: Cedar Rapids Iowa
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| Posted: Sun Jul 10, 2011 12:05 pm Post subject: Re: Staying Long Term And Beating Inflation At Home |
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| Daelim wrote: |
What a thread for a Saturday night, eh? Well I'm out the game with toothace so my mind has wandered to more serious topics
I'm wondering what you long termers do with regards to savings. My wife to be and I are planning on spending another few years here with a view to paying outright for a house at home when finished. However, it's fine saying things like "Save $2500 a month for 5 years and add severance taking savings to around $170,000," right?
Say we save $30-$35,000 a year, what is the best thing to do with that money? If we put it into an account at home, will it still be worth the same in 5-7 years or will inflation put a dent in it?
Is it best to keep it in Korea and exchange it at the end in one lump sum or is there another way to make these long term savings monies work for us? Investing in property with a mortgage is not something we are willing to do and we hope to never have to be saddled with one in the future so that avenue is out
TIA! |
I did well in Korea and Taiwan but never imagined saving $2500 a month.
I have earned 85,000 NT and around 4,000,000 won for several years in a row, but always had a child and / or a wife and girlfriend or both.
So let say you single , no kids or student or other loans. What are you making and spending ( or not spending ) to save two and a half? |
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Friend Lee Ghost
Joined: 06 Jun 2011
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| Posted: Mon Jul 11, 2011 1:54 am Post subject: Re: Staying Long Term And Beating Inflation At Home |
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| Theme wrote: |
| I did well in Korea and Taiwan but never imagined saving $2500 a month. |
I managed to save my entire salary (almost $2500) when I worked in Korea just by living off my privates. No wife or girlfriend though (at least not until the end, and then she was paying for me ). |
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