Korean Job Discussion Forums

bucheon bum · Joined: 16 Jan 2003

1st year here: paid off around $5,000 in debt, spent a big chunk of the rest of my savings on a 2 month trip to S.east Asia, spent most of the remaining chunk back in Korea looking for job #2. Left me with around $1,000 USD. Which is one reason I'm back here again.

2nd year here: Will have about $11-12,000 saved up. Good enough to go brush up and improve my Arabic for 6-8 months in some cheap Middle Eastern country (ie Syria or Yemen), then hit the job market back in the states.

If my plan fails, I might be back here in the land of morning calm in a year or so Smile

mike in brasil · Joined: 09 Jun 2003

The plan:

Come to Korea (or Japan or Taiwan or a combination of the three) and try to save 1,000 US a month. With that $$, put 1/3 into gold bullion, 1/3 into the KOSPI, and keep the other 1/3 in cash. Do that for 3-15 years. Once I hit 300,00 US, I�m out.

Trade KOSPI and try to make 20-30% per yr, using at most equiv. of $10K US as principal. Trading using a 1 for 3 loss/win ratio - keep tjhose stops in!

Gold is in a raging bull market - today its about 350/oz, but it�s going to retest the highs of 1980, when it hit 850/oz. Sell at least half of position when it hits that area. Gold could go above 1000/oz within the next 10 years.

With the remaining 1/3 cash, diversify into other currencies. Once the Malaysian Dinar gets of tjhe ground in the next year or so, it�ll be what I buy -it will be the only currency backed by gold in the world.

Once I get enough cash out, invest 25k-50K in Brazil and put it in cash deposits that historically have been around 20%/yr. Considering putting 25K in some other countries to do the same. Thailand, Indonesia, Phillipines, Poland?

The goal is to have interest bearing accounts around the world so in any one place at any one time I�ll have more than enough $$ to live well. Keep gold and plenty of cash.

My dream is to have the time and $$ to trade stocks full time. I�m a Tiger, baby!! Grooowwlll

bucheon bum · Joined: 16 Jan 2003

well mike, you might want to stick with the american stockmarket, which has been doing very well this year. I think the NASDAQ has gone up 30% the past few months and the S&P has shot up as well.

mike in brasil · Joined: 09 Jun 2003

Risk and Reward is the same in any market in any language. . . .plus if I�m in Korea it�d be easy to montior my stocks there. . . . .

Buy Gold

Hanson · Joined: 20 Oct 2004

Let's get this poll back up and running!

How much do you want to save while in Korea?

laura-and-ryan · Posted: Thu Nov 22, 2007 7:33 pm Post subject:

is there big risks investing in gold? is it hard to do? I have no clue about stocks but if my money can make money then why not!

milkweedma · Joined: 15 Dec 2006

Thats all its about. This country deserves most of the criticism on daves. Only today i saw our PS P.E. teacher inflicting pain on a student. Back in NZ he would have been arrested and dismissed from the teaching profession? for that bull$hit. This guy is the second PS P.E. teacher that is a complete moron. Could be a pattern here (yet again).

sojourner1 · Posted: Thu Nov 22, 2007 8:25 pm Post subject:

On a 2 million Won a salary, you can save about 1.2 million Won a month. It would be ideal to have 30 to 50 saved up which takes 2 to 5 years.

Hyeon Een · Joined: 24 Jun 2005

MA_TESOL · Joined: 11 Nov 2007 Location: Seoul

Thw more the merrier! I deally over 100K. I am easily saving over 1K US a month.

mike in brasil · Joined: 09 Jun 2003

The bull market in gold and commodities is just getting going. I'd buy silver and sell it once it gets around $100/oz. At around $15/oz today it should prove to be a great investment. Unfortunately, it's too heavy and only god knows when it'll really take off. Platinum is the strongest metal, it could go higher than anyone realizes, plus it's in a big supply deficit. Buy gold once it retests the 730-650 area and then it should make its way above the 1000/oz. The metals can go a lot higher, but at this space in time I'd wait for a pullback. Once everyone is talking about gold, then it'll be time to get back into the bond market, it seems. At the moment the equity markets appear to be nearing the point of confirming a downtrend, and maybe an oncoming recession.

What I recommend folks do to get involved in the commodity boom is to check out strategyrunner.com. and look at all the different black box strategies. Educate yourself, it could make you a millionaire. Go to tradesimplicity.com and sigh up for a free 3-week trial and you see how quickly you can make (or lose $$). To do this you'll need to open an account with a commodities broker.

SuperHero · Joined: 10 Dec 2003 Location: Superhero Hideout

My current plan is about 300,000,000 but I may leave sooner depending on a number of other factors. Regardless I should be out of here in less than 5 years.

nateium · Joined: 21 Aug 2006 Location: Seoul

Cheonmunka · Joined: 04 Jun 2004

It's a long haul for anyone starting out to get the first hundred K. Hang in there. Maybe it takes eight years, but hang in there. A good wife might be the answer 'cause your not out spending your money, but then, kids come along and atrophe or exaggerate your bills by 250-300%. No kidding, kids are expensimundo.
People talk about stock and silver, okay, there's the stock market and futures like that to lose or gain your wealth. Pay your debts first.
I clicked 500k but that really means total before I'd feel comfortable, not just to save from zero now till then. I think I'd be dead in the grave long before that.
Some people on Dave's are sitting pretty because their wives come from 'good' families. Basturds.

Wha, Friday night whiskey. Gotta love it.

PRagic · Joined: 24 Feb 2006

If anyone not in Korea is reading this thread, they'll want to come over for sure...no matter what they hear about working here. Can you imagine a recent grad back where you're from saying that they are having no problem saving a grand a month and traveling...and going out...and living in one of the most expensive cities in the world.

So far, most people on this thread are optimistic about being able to save 10-30K in a couple of years. That's amazing, and, as some posters have said, it's money that can be used to invest, be it in the market or in yourself. Even if all you do is pay off your student loans and then start fresh back in your home country, you have a big leg up.

If I wanted to leave, I'd just go; money wouldn't keep me here, and it didn't bring me here to begin with. It's nice to know that after so many years here, though, if the better half and I do decide to pack it in, we'll be able to go where we want and not have to sweat it.