Korean Job Discussion Forums

[blunder1983]

So guys, what do u spend your savings on?

Bank account?
Stocks?
Gold?
Housing?
Not at all?

I've not been here long but intend to stay for a while and am interested in wot others view as the most lucrative investment. I'm thinking of saving up the cash to buy a house (if i'm lucky the bubble will have burst by then) and simply renting it out while I remain the awesome teacher that I am.

Is it impossible to get a mortgage if your not in the country tho?

Sorry if the question is too intrusive, like I said I'm curious.

Chris

[white_shadow]

I'm an undergraduate so I don't have much to invest. But I use an online trading company. I'm an electrical engineering student, so I come across information every now and then.

For example a friend of mine might come back from an internship working for some energy company. I do extensive research, learn about the company and their competitors. More research then I invest with occurences that will affect stock prices, something that forces stocks top drop. I buy low and sell high. After 9.11 I bought alternative energy stocks and sold six months later.

My friend was offered a job by Google about two years ago. They wanted him to join the gmail team. They told him the details of what gmail would be comprised of. There were rumors that they were going public soon, but we knew that Yahoo had already invested a load of money for the gmail system. We never did go in, we were just to busy at the time.

Another time my friend worked for a small ISP. They were told that they would be taken over by a bigger ISP. The small ISPs stock was around $5, and the bigger one $20. We knew the resulting stock would end up somewhere in between or higher. So we bought.

So basically I buy stocks from inside information. Since its only a few grand I don't think the Feds will ever knock on my door. It gets a little sketchy at times, since I could lose a good chunk of my savings. But I always say once you invewst consider it a loss.

I also have a 401K, which I'm moderately conservative with. I 'm a little young to have started a 401k, but it was offered with a 4% investment match.

[jlb]

I've been investing in mutual funds, only $50 a month right now because I'm a student again but once the money starts rolling in I'd like to save up some money and start buying houses. Then get some renters and get other people to pay off my mortage.

I put all extra cash on hand in an ING direct account, interest is %2.5 instead of the crap 0.5% or whatever it is at CIBC and the other big Canadian banks.

[mithridates]

Every time my money goes up I take a few months off to study.

[canuckistan]

Real estate

[bobbyhanlon]

don't buy gold, that's just crazy. if you don't know exactlywhat you're doing, don't touch the stock market either. korean stocks, for example, move around a lot and are good for trading, but you can get really screwed if you're not careful. mutual funds are a reasonable investment though; diversify, and put some in every month. property, i think, if you have enough money, is the best bet, although you should do a lot of research about the area, economic outlook etc.
also, it depends on how old you are. if you're young, you can afford riskier investments; if you're old, go for safe income-generators. and no matter what anyone says, don't buy google stock if you want to sleep well at night.

[the saint]

[jlb]

[peppermint]

For now I don't invest, I'm more concerned with paying off debts. As well, if I invest through a company in my home country, it could make the difference between paying the tax rate at home ( 25% or so) and here ( 3%)

[Wangja]

[Tiger Beer]

just paying off credit card debt (again) before I start working on student loans (yet again). Damn you Spain!

Was at zero even $ before going to Spain for a MA degree in 2004.

[Grotto]

I put all my money in Kimchi jars and bury them at various locations.

But then I get all paranoid and wake up at 2 AM and have to go check to make sure they are all still in place.

Paying off debts.....when I came to Korea I was over 35,000$ in debt...now I am about 9000$ in debt, with 6000$ in the bank.

[blunder1983]

This year is for debt, but if I can buy some housing or something in a few years time I don't see why this job couldn't turn into a permenant job with me only leaving when I come to cash in my huge housing empire. I mean, whilst now is not the best time to buy in England housing is a sure fire way to make good on your money, and u even get people to pay rent for u!

I'm also curious, if I get a sufficient deposit for a house can I buy one overseas? (america, canada, spain?) I'm a Brit and the housing market there is utterly stupid, so that makes the prospect of purchasing elsewhere far more viable (spain is good for holiday revenue, and I've been reading Croatia is going to be a REALLY good investment in a few years time).

[thorin]

I'm saving to buy some land.

[mithridates]