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Korean Job Discussion Forums
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Konglishman
Joined: 14 Sep 2007
Location: Nanjing
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 Posted: Fri Oct 12, 2012 11:47 pm Post subject: |
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| newb wrote: |
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| You're talking about returning to the USA when you have 30 thousand dollars saved up. Personally, I think that is not enough. 100 thousand dollars would be the number I have in mind when it comes to starting all over again there back in the US. By the way, the interest rates in America are horrible. I am getting a much deal leaving a lot of my money in a KEB savings account. |
Agreed. I reached my 100K within a three year period. I worked my arse off and saved. I'm nearing my 200K goal on my 5th year and now I don't have to burst my arse or try very hard to save any more. Once you reach 100K (seed money) and gain some tricks and experience, money just rolls in without much effort.
I put away some of my money in one of the SE Asian country where I plan to retire and the interest rate is currently +10%. Of course, there's some risk in that, but you won't get very far without taking some risks. It's better than leaving your money to stagnate and lose it's value with inflation in the US bank. |
Where? Thailand? Speaking of relatively high interest rates, I understand that the interest rate in China is a little over 6%. I guess now that I have had my first full paycheck in Shanghai, I might as well open a savings account here too. |
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Konglishman
Joined: 14 Sep 2007
Location: Nanjing
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| Posted: Fri Oct 12, 2012 11:52 pm Post subject: |
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| The Great Toad wrote: |
Megook Cowgirl rider I am discouraged by your use of the sad situation of Ori staion Souls with less opportunities to teach upright and make upstanding cash like you and I in Corea. I doubt the spirits' cleanliness that granted you the Maslow state of Epiphany that you claim as your freedom. You should not go about hurting yourself and bereft Corean yo-jah chingos like in this terrible story:
http://www.youtube.com/watch?v=6uwp5ShEEl8&feature=relmfu
Of course I admit to saying this with wooded eyed indolence as I am failing to publish my amazingly adroit and clever books and poesy as I should- being gifted with my incredibly large and powerful brain.
Despite that I do agree with your economic points. I surely could be a tenured teechur of Ingles in America by now making more money then I do in Corea presently at a topped out High Sk00l salary - but you have to count the cost of cars, apartments, (home loan), and health care in America as well as the evil drug loving broken home kids who threatened to kill me because I insisted they remain seated and finished their writing... (never did find out want happened to those high school kids- God save 'em)
So it is that we may meet in Busan on the beach...? You should bring a wayward lass of yours for me to encourage to evolve and embrace the gentry life of moderation and prudence. Also she could tell me I was a very handsome guy...
Not everyone can be as determined and magnanimous as the Konglisman, a fine fellow himself. But, I like to think that most teachers here - and especially those who return, have a deep love for the Korean people and can not wait to rub the back of the funny bunny You-chee-wons who approach us with their mother's urgings for no other reason then we said "Hello" and smiled back at them in rreturn...
I suppose I could retire now in the USA and pay cash for a small house somewhere... but I continue on here as it would be a curse to Heaven for me to deprive students from my dooms of English wisdoms- I guess I will stick around for a few more years or until I can wed a old kindly Hoggywon teacher who falls in love with me- which constantly happens as I walk the streets in all my Won Bin Glory like English Prince Nobility... Anyhow send me a PM and we can meet up in Centrum City in Busan or at the BEach and share how great and well traveled we both are... I am at around 30 nations though as I was before a Viking Hero Marine Crusader and since an amazingly handsome and noble ESL Gentlemen traveler... so I have a few more c00l points than u. |
Hello, Great Toad. I might visit Korea around Christmas time. Assuming you do not have any vacation plans lined up, perhaps, we can meet up again at that time. |
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michi gnome
Joined: 15 Feb 2006
Location: Dokdo
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| Posted: Tue Oct 16, 2012 7:18 pm Post subject: |
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Great post Cowboy.
I can relate all too well to those experiences, and wish you the best.
Cheers, and enjoy the ride! |
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Lunar Groove Gardener
Joined: 05 Jan 2005
Location: 1987 Subaru
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| Posted: Wed Oct 17, 2012 3:26 am Post subject: |
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Rental property:
take out a secured loan to establish credit/relationship with the bank
research online(in U.S. ..trulia.com) for familiar mid-sized cities with colleges where property is affordable
frequent foreclosure sites such as (Hubzu.com)
set your target and keep looking at criteria
save up 20% down payment
get pre-approved for a mortgage loan
get a real estate agent to work with you and visit properties for you
(they can take some photos...)
purchase a triplex and pay someone to manage it
keep working until it is paid for
THEN you can have a vacation
Mind you, a few years of not traveling and taking any work available will
expedite this in the tempting world of EfLers. I think a property with 3 units is best as it costs less than a quad, and yet even with one unit sporadic
vacancy it will always pay its own mortgage.
It is not a wealthy escape, but it is within your means.
**If you like to drink, forget it. Ha ha, sorry, it just won't happen.
***If you like to drink, save up $10,000 and open a bar in SE Asia.
Enjoy your life and realize that longevity is not your primary aim yet.
Peace and good tidings.
LGG |
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Unibrow
Joined: 20 Aug 2012
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| Posted: Wed Oct 17, 2012 5:55 am Post subject: |
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Before enlightenment: chop wood, carry water.
After enlightenment: chop wood, carry water |
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kimchipig
Joined: 07 Mar 2008
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| Posted: Mon Oct 22, 2012 12:49 pm Post subject: |
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My own experience of Korea was much the same; after a few years I returned to Canada, was bored to death and went back to Korea. Stayed another six years, got a great job at a university with all the best perks and then...hit the glass ceiling.
Then I realised something: it had taken me a good five years to reach the top in Korea and if I were to do well in Canada, it was going to take me that much time, too. I returned to Canada in 2004 and started working as a private tutor. It took me four years until I could live on it and another two for the income to really come up.
Almost nine years on my wife and I are running a thriving tutoring agency and making more money that I had ever dreamed possible in Korea and the best part is I am not in Korea. When I finish my lesson, I walk out the door into Canada.
The moral of this story is it is always going to take time to build a career and more importantly, the right partner to keep you focused. The time I spent in Korea was useful from a teaching standpoint but I often wonder who well I would have done had I concentrated on a career in Canada instead of the decade I spent abroad.
I still love Asia and get there once a year. |
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