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adventureman
Joined: 18 Feb 2003
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 Posted: Thu Apr 21, 2005 5:57 am Post subject: |
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The most important thing is clear up any and all debts you have NOW. That includes college debt, credit card debt, everything. Don't wait 10 years like everybody else does, it will open up a lot more options for you without that hanging over your head. I had ALL my student loans, 16 grand us, paid off in full within 17 months of my graduation. Now Im working on saving another 25 grand so I don't need to worry about taking out more loans for graduate school.
Who gives a rat's ass what they say about low interest rates blah blah blah In the end, student loans will crush your soul.
Also put off any travel plans until you have a safety net of at least 10 grand US stashed away.
Why do you rule out commuting from home while going to gradute school? I fully intend on doing just that when I go back in a couple of years (I guess I'm lucky becasue the school I have pegged for attendence, the world-famous School for International Training, is only a 45 minute commute from my house). You can actually save quite a bit money when you don't have to worry rent or food. Plus, you'll be too busy for much of a social life anyway. |
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Homer
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| Posted: Thu Apr 21, 2005 2:24 pm Post subject: |
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The a-man has it right.
Clear your debts quickly and then save up. Have a reasonable life style and you can put away quite a chunk of change.
Also, if possible, invest your savings.
Finally, how much do you need? That really depends on what your plans are when you go home now doesn't it? |
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teachingld2004
Joined: 29 Mar 2004
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| Posted: Thu Apr 21, 2005 3:19 pm Post subject: how much money do i need |
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That is a hard question to answer, actually not a possible one.
Depends on where you want to live. I am from N.Y.C, and I never could afford to go back there, but I can afford to go some place in Pennsylvania.
Also some people want more then others. I would be happy living with second hand furniture and taking a bus, while some one may want/need a car and all new items.
So, if you want to live on a shoe-string, you need less then others. And then again, there is a difference between "need" and "want". |
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fidel
Joined: 07 Feb 2003
Location: North Shore NZ
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| Posted: Thu Apr 21, 2005 8:19 pm Post subject: |
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| FUBAR wrote: |
| fidel wrote: |
Well, you have posed a question only you can answer. How much money do you need?
However I will offer an answer of sorts.
You will need exactly enough money you will need, no more or no less unless you want to have some wants thrown in for good measure. Then you will need some more. |
Mr. Madison. What you've just said....is one of the most insanely idiotic things I've ever heard. At no point in your rambling, incoherent response was there anything that could even be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul. |
FUBAR, you sound Fubar. Rather than saying "Everyone in this room is now dumber for having listened to it" you should have said " I am dumber for not having understood it"! Nobody can tell the poster, how much money he needs, nor really measure it against past experiences. As other more intelligent posters have pointed out there are a huge number of dependencies and variables that help us determine individually how much money you will need to return home. Sure we can throw out numbers like $10,000 or $20,000 grand but it means nothing unless we have some measurables. How long does the poster intend to live without income, is he going to rent, does he have a mortgage or outstanding debts that need servicing, where does he live, what kind of lifestyle does he lead, is he a coke addict that needs to fund his habit, does he smoke and drink expensive liquor blah blah blah.
I suggest that the poster does a little secondary research and finds the answers to some of these questions. Only then will he be able to make more than a guesstimate. |
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bosintang
Joined: 01 Dec 2003
Location: In the pot with the rest of the mutts
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| Posted: Thu Apr 21, 2005 10:38 pm Post subject: |
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I would love to have a safety nest of about $10,000 before I return, but that's not very likely. I have too many expensive ambitions, and I'm not willing to stay in Korea for years upon years before I can afford everything I want.
When I make my return permanently, I plan to return with about $2,000 living expenses, enough for a month's rent and a bus pass. I've never been shy to work bad jobs if they put food on the table, so I think that's enough for me. HOwever I will have no debt, and if I return to university --certainly a possibility -- I'll try to have enough for at least a year's tuition as well. |
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Grim Ja
Joined: 16 Jan 2003
Location: On the Beach
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| Posted: Thu Apr 21, 2005 11:08 pm Post subject: |
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To the Dutchman,
You have said that you have reached your goals and are planning on going leaving soon. Just curious, what is the ballpark figure of that goal 50 mil, 100 mil, 1000 mil. I remember reading some of your other post that you said your wife and you ran a small homeschool. I want to hear a about your success story. |
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kangnam mafioso
Joined: 27 Jan 2003
Location: Teheranno
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| Posted: Fri Apr 22, 2005 12:54 pm Post subject: |
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| $10-15,000 USD should be sufficient to get you started. find any job as soon as possible (even if it's crap or temp) to cover basis expenses while you're looking for the career job. |
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chi-chi
Joined: 15 Jan 2003
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| Posted: Fri Apr 22, 2005 4:31 pm Post subject: |
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| adventureman wrote: |
Why do you rule out commuting from home while going to gradute school? I fully intend on doing just that when I go back in a couple of years (I guess I'm lucky becasue the school I have pegged for attendence, the world-famous School for International Training, is only a 45 minute commute from my house). You can actually save quite a bit money when you don't have to worry rent or food. Plus, you'll be too busy for much of a social life anyway. |
That's what I'm doing. Unfortunately the social thing kind of blows, and if you choose to go that route you're not living in a town like I live in, where everyone is richie-rich and gets a magic apartment at age 18, paid for by mommy and daddy. (They don't have to work either.)
But if you're, like, in the real world, this is the best route. Especially if you're coming home with next to no cash, are young, are sick from pollution, or any of the combination.
"There goes your social life" is the phrase that comes to mind, but at least you can avoid debt in this way.
If I had Asia to do over again, I would have bought a house first (preferably beach front property haha) and just sent home money on the monthly payments..it's good to have somewhere to come back to if you have to leave all of a sudden which a lot of people do.
So if you go to Korea or anywhere else in Asia, buy yourself a house first OR make sure you are young enough to stay with the rents if your contract(s) don't work out.
If you don't take the advice in the last sentence then you do run the risk of getting "stuck". I can see how it happens to people now. For some people the gig they're stuck in is good, for others it blows...but it's good to have a place to go in case something happens...and people have to go home for a variety of reasons when they think it can never happen to them. |
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dutchman
Joined: 23 Jan 2003
Location: My backyard
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| Posted: Fri Apr 22, 2005 11:34 pm Post subject: |
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| Grim Ja wrote: |
To the Dutchman,
You have said that you have reached your goals and are planning on going leaving soon. Just curious, what is the ballpark figure of that goal 50 mil, 100 mil, 1000 mil. I remember reading some of your other post that you said your wife and you ran a small homeschool. I want to hear a about your success story. |
Actually, we've already left. Thanks to a great exchange rate in early March we exceeded our goal. The goal was more than your second number and less than your last number. But you have to remember that was two incomes working our butts off for about 7 years (after I blew most of the first three years' savings). We lived with second-hand furniture, rarely ate out and our free time was mostly spent playing with our two kids. Our only luxury was three weeks in Michigan every year to visit my family and friends.
But it paid off. We close on our house on the 29th. I'll finish training and close the deal on a business purchase shortly after that. It was seven years well spent for us but a good Masters degree and a few years experience could work just as well. |
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Tiger Beer
Joined: 07 Feb 2003
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| Posted: Sat Apr 23, 2005 1:12 am Post subject: |
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Never take anything back.
I have good credit and credit cards and rack up the debt trying to get situated and readjusted back home. Doesn't take long to pay them off again either. |
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kangnam mafioso
Joined: 27 Jan 2003
Location: Teheranno
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| Posted: Sat Apr 23, 2005 11:20 am Post subject: |
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| Tiger Beer wrote: |
Never take anything back.
I have good credit and credit cards and rack up the debt trying to get situated and readjusted back home. Doesn't take long to pay them off again either. |
very dangerous!! i'm not saying you have to take back a 100 million won, but depending on credit cards is asinine. i learned that the hard way. |
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buymybook
Joined: 21 Feb 2005
Location: Telluride
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| Posted: Sat Apr 23, 2005 12:16 pm Post subject: Can YOU do me a favor? |
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| What a bunch of J****! Stick your money up your ARS!!! |
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Cthulhu
Joined: 02 Feb 2003
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| Posted: Sat Apr 23, 2005 2:46 pm Post subject: |
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| You'll never have enough money in the West...never. |
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