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Korean Job Discussion Forums
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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 Posted: Sat Nov 07, 2015 8:40 am Post subject: |
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| Fallacy wrote: |
| [. My comments were not advocating a plan of action either way, just disputing that someone is "stupid" or "screwing themselves," to use World Traveler's syntax. It very well may be that a capitalist is willing to assume an investment risk with the potential for a greater nearer-term outcome, and if that turns out to be the case, then stupid will not be an accurate description. ] |
Yes but the vast majority of ESL'ers in Korea are not "capitalists" nor are they investing their money. They are either here for a gap year or two or they are paying off student debts. Anything left over usually gets sent back home. There are a few people that invest...but most people simply don't have the salary to enjoy their life, pay off student debts AND invest. I know...I lived in Korea for a long time (however I was lucky and paid off all my student debts BEFORE coming here).
I would still contend that the average person by not accepting pension is throwing away free money.
Get the pension and use a portion of money from your salary to invest. Then you have the best of both worlds. AND too you have the added bonus of complying with the law and not having to wonder if the next knock on your door is from the pension officials wanting to have a little chat with you. : ) |
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Fallacy
Joined: 29 Jun 2015
Location: ex-ROK
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| Posted: Sat Nov 07, 2015 2:55 pm Post subject: RE: Burnout starting to hate job |
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| TheUrbanMyth wrote: |
| Yes but the vast majority of ESL'ers in Korea are not "capitalists" nor are they investing their money. I would still contend that the average person by not accepting pension is throwing away free money. |
Well, in that case, it is "not smart" for them to ponder alternatives, and best that they avoid "screwing themselves." As I see no purpose in avoiding mandatory NPS premiums either, and likewise also see no purpose in avoiding investment risks, I therefore now pronounce the prior assessment of World Traveler to be correctly phrased, and my comments in objection to selected terminology are hereby withdrawn, and will be edited to reflect that correction. My thanks to TheUrbanMyth for bringing attention to this matter. From the OP:
| Pianote wrote: |
| They aren't paying my pension. I signed on not knowing this is illegal. |
A lack of capitalist motivation can certainly contribute to job hate and burnout. This is a possible explanation for why Pianote was not smart and got screwed. |
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