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Korean Job Discussion Forums
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northway
Joined: 05 Jul 2010
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 Posted: Wed Jul 09, 2014 9:02 am Post subject: |
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| This is a new investing platform that I think might be of interest to some here: https://www.motifinvesting.com/. "Stop picking stocks. Start picking ideas." Seems like a good combination of minimal stress and diversification. |
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neilio
Joined: 12 Oct 2010
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| Posted: Wed Jul 09, 2014 11:26 pm Post subject: |
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| Lucas wrote: |
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Looking for advice from those who understand finance/investing/etc.
I have money building up and not enough strip clubs to make it rain in.
On the series, if i have cash lying around, does it make more sense to invest it locally in a TFSA, or send it back home to my TFSA/RRSP?
Consider:
-Rise/fall of WON/CAD.
I remember 3 years ago 1000 won got me $1.25 or so, now it's more even. So that means the WON value is decreasing?
-I'm here indefinitely. Perhaps permanently.
Does that change what country to invest the $? If i were to send home, should i wait for the WON to increase in value?
What do you'll do? Please state your personal situation, if you're here for a year or plan to stay a while. |
How much are you looking to invest? |
About 10K, and maybe 1K/month going fwd |
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neilio
Joined: 12 Oct 2010
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| Posted: Wed Jul 09, 2014 11:28 pm Post subject: |
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| Jane wrote: |
You mentioned RRSPs and TFSAs, so you must be Canadian.
To invest in a TFSA you have to have residency ties to Canada, and for an RRSP you need to have contribution room, which accumulates when you work in Canada. Depending on your situation, you may or may not be eligible for these investment vehicles if you live permanently in Korea.
The benefits of investing in a TFSA is that you will incur no tax based on the interest income. For an RRSP, the tax is deferred until you withdraw the investments in it.
So to help answer your question, you are best to seek information on how much tax you pay here in Korea on interest income, which might help make your decision easier. Also, if you keep your funds in Korea with the expectation of one day returning to Canada to live, you will have to consider the currency risk.
If you are eligible to invest in either a TFSA or RRSP and these vehicles meet your longterm financial goals, one way to go about is to invest through an online discount brokerage like Questrade. That way, you will have full control over your funds at all times online, but you will also reap the benefits of the Canadian government's goodies.
One final point: you should also determine what kind of risk you can stomach. The riskier the product, the more potential for income (and loss!). It's best to have a mix of products (index funds, fixed income, money market funds, etc.) You can always talk to an adviser in Korea at places like Mirae Asset, or Samsung Investments, if you are planning on staying in Korea. |
Thanks! I wish you were Canadian and could just tell me what you do.
I was hoping there'd be an obvious answer.
Finance escapes me. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Thu Jul 10, 2014 4:10 pm Post subject: |
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| My pocket. |
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GoldMember
Joined: 24 Oct 2006
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| Posted: Tue Jul 15, 2014 3:44 am Post subject: |
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| Do seriously rich people get their investment advice from an esl forum? |
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isitts
Joined: 25 Dec 2008
Location: Korea
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| Posted: Tue Jul 15, 2014 4:23 am Post subject: |
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Dude! Can't you post a hyperlink instead?! You're messing up this page!...er...the first page. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Tue Jul 15, 2014 5:19 pm Post subject: |
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| Yaya wrote: |
I respectfully disagree with them despite not being "a professional." Don't forget, experts are often wrong (nobody really predicted the 2008 crisis) and well, I've seen condos go for as much as half a million dollars in certain parts of Manila, which is WAY overpriced. Don't forget, the Phils is STILL a Third World country, and it seems Northeast Asian investors are snapping up properties as opposed to American or European, which gives me cause for concern.
The Phils is still not that investment friendly (despite its faults, Korea is one of the few countries that allows foreigners to own land), and despite things improving on the business front, buyer beware. |
Oh there were quite a few who predicted the 2008 crash, but no one wanted to listen to them. They were dismissed as whack jobs and nuts. Kind of like those now lamenting the extraordinary printing of money by many central banks including and especially the US Fed.
But, I digress. You can make money even calamity. You just have to know how, where to look, and how to be prepared. |
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