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| Do you invest money in something other than a savings account? |
| Yes |
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55% |
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| No |
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32% |
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| Invest? Are you kidding? I barely make it as it is. |
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11% |
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| Total Votes : 59 |
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Francis-Pax
Joined: 20 Nov 2005
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 Posted: Thu Feb 09, 2006 11:32 pm Post subject: Investing your saved money earned from English teaching |
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I would like to hear from people who are investing their saved money from English teaching in Korea. Is everybody just keeping lazy money in a low or non-interest bearing account or is somebody out there trying their hands at stocks, mutual funds, bonds, money market accounts, CDs, or real estate?
I look forward to hearing from people. |
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numazawa
Joined: 20 Mar 2005
Location: The Concrete Barnyard
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| Posted: Fri Feb 10, 2006 12:05 am Post subject: |
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| Buy gold while it's still under US$600. Then buy some more. |
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cypher
Joined: 08 Nov 2003
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| Posted: Fri Feb 10, 2006 2:40 am Post subject: |
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| Does a GIC count? It certainly doesn't seem to! I've been thinking about spreading my wings but don't feel I know enough...does anyone know of a good website where I can teach myself personal finance? The things they don't teach you in school but should, or at least they didn't teach it when I was in school. |
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deessell
Joined: 08 Jun 2005
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| Posted: Fri Feb 10, 2006 3:07 am Post subject: |
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| numazawa wrote: |
| Buy gold while it's still under US$600. Then buy some more. |
And where shall we keep this gold. Good idea in theory but in practise it's more complicated. |
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JongnoGuru
Joined: 25 May 2004
Location: peeing on your doorstep
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| Posted: Fri Feb 10, 2006 3:37 am Post subject: |
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| deessell wrote: |
| numazawa wrote: |
| Buy gold while it's still under US$600. Then buy some more. |
And where shall we keep this gold. Good idea in theory but in practise it's more complicated. |
Yes, it can be more complicated if you want to take physical possession of that gold, in bullion or coins. Buy you don't have to.
If you're buying gold not all at once but accumulating it over time with what savings you can put towards it on, say, a monthly or quarterly basis, then you're probably best off buying and trading gold certificates. Investing in gold doesn't require having to go somewhere and hand over cash for a lump of shiny metal. Like stock certificates, gold certificates indicate the amount of gold you've purchased through an account (through a bank, a commodity broker, etc.). And I don't believe you even need to have those certificates issued unless you're moving your account elsewhere. That is, I believe purchases & sales can be done without issuing actual paper certificates.
Last edited by JongnoGuru on Fri Feb 10, 2006 3:40 am; edited 1 time in total |
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numazawa
Joined: 20 Mar 2005
Location: The Concrete Barnyard
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| Posted: Fri Feb 10, 2006 3:38 am Post subject: |
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| deessell wrote: |
| numazawa wrote: |
| Buy gold while it's still under US$600. Then buy some more. |
And where shall we keep this gold. Good idea in theory but in practise it's more complicated. |
Nope, not at all complicated, especially now that there are gold ETFs (Exchange Traded Funds) that track the price of gold yet trade just like common stock. The largest of these is listed on the NYSE under the ticker symbol GLD, the price representing almost exactly 1/10th the spot price of bullion. Buying shares is tantamount to buying physical gold, as the fund is required by charter to buy bullion to match sales of the stock. Needless to say, this demand from stockholders also directly impacts the gold market -- already, only one year after its inception, estimated at some 13% of global consumption of bullion (and growing). |
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JongnoGuru
Joined: 25 May 2004
Location: peeing on your doorstep
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| Posted: Fri Feb 10, 2006 3:42 am Post subject: |
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| numazawa wrote: |
| deessell wrote: |
| numazawa wrote: |
| Buy gold while it's still under US$600. Then buy some more. |
And where shall we keep this gold. Good idea in theory but in practise it's more complicated. |
Nope, not at all complicated, especially now that there are gold ETFs (Exchange Traded Funds) that track the price of gold yet trade just like common stock. The largest of these is listed on the NYSE under the ticker symbol GLD, the price representing almost exactly 1/10th the spot price of bullion. Buying shares is tantamount to buying physical gold, as the fund is required by charter to buy bullion to match sales of the stock. Needless to say, this demand from stockholders also directly impacts the gold market -- already, only one year after its inception, estimated at some 13% of global consumption of bullion (and growing). |
There you go. Gold funds as well. It's getting easier all the time to invest in gold. |
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Homer
Guest
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| Posted: Fri Feb 10, 2006 3:51 am Post subject: |
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I invested in several areas (mutual funds, monetary market, real estate, RSSPs and a few corporate stocks).
I prefer to keep it diversified and it has worked out well for me.
The key: find a financial advisor you trust and roll with it. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Fri Feb 10, 2006 3:55 am Post subject: Re: Investing your saved money earned from English teaching |
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| Francis-Pax wrote: |
I would like to hear from people who are investing their saved money from English teaching in Korea. Is everybody just keeping lazy money in a low or non-interest bearing account or is somebody out there trying their hands at stocks, mutual funds, bonds, money market accounts, CDs, or real estate?
I look forward to hearing from people. |
Gold and oil. In a word stocks. Bonds and mutual funds have more of a downside when it comes to accumulating money rapidly, although they are somewhat safer. But ANY legimitate investment is relatively safe IF you KNOW what you are doing (and that doesn't mean reading some books on the topic.) Although that is a source of information the best way of learning to invest is still first-hand experience. Period.
I don't know much about money market accounts or CD's so won't speak for those. Real estate? No, not now at the peak of the housing bubble. Maybe later, but I prefer the stock market. Gold has still a way to rise although there will be peaks and troughs (as in every commodity market). And oil is a finite source (meaning opportunity abounds there, again if you know where to look). |
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sheba
Joined: 16 May 2005
Location: Here there and everywhere!
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| Posted: Fri Feb 10, 2006 4:11 am Post subject: |
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| mine goes straight on the student loan........ sigh........... |
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deessell
Joined: 08 Jun 2005
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deessell
Joined: 08 Jun 2005
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| Posted: Fri Feb 10, 2006 5:02 am Post subject: |
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| This strikes me as a singularly bad idea. The entire idea of buying gold is that it is physically in your posession. In the event of a financial crisis the people who have gold certificates will be the proud owners of some of the most expensive toilet paper on the planet. |
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capebretoncanadian
Joined: 20 Feb 2005
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| Posted: Fri Feb 10, 2006 6:18 am Post subject: |
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| deessell wrote: |
| This strikes me as a singularly bad idea. The entire idea of buying gold is that it is physically in your posession. In the event of a financial crisis the people who have gold certificates will be the proud owners of some of the most expensive toilet paper on the planet. |
And the people with the gold in hand are gonna have money in the bank cause EVERYBODY will be buying gold if there's a worldwide financial crisis... |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Fri Feb 10, 2006 6:19 am Post subject: |
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| deessell wrote: |
| This strikes me as a singularly bad idea. The entire idea of buying gold is that it is physically in your posession. In the event of a financial crisis the people who have gold certificates will be the proud owners of some of the most expensive toilet paper on the planet. |
The rule of law will still cover that though. In the event of a financial crisis so big that law is overthrown, there will be NO form of cash, stocks, bonds or real estate that will help you. Only what you can take (and keep) by force. In that case a few guns and plenty of ammo would be your best investment. |
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JongnoGuru
Joined: 25 May 2004
Location: peeing on your doorstep
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| Posted: Fri Feb 10, 2006 6:24 am Post subject: |
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| deessell wrote: |
| This strikes me as a singularly bad idea. The entire idea of buying gold is that it is physically in your posession. In the event of a financial crisis the people who have gold certificates will be the proud owners of some of the most expensive toilet paper on the planet. |
(Sorry if I seem to be following you around the board tonight Deessell. I don't mean to be a stalker.  )
Well, if that's a bad idea, then what about stock certificates, unit trusts, CDs, property deeds, etc., etc., which represent a far larger chunk of most investors' assets than precious metals? Is it all toilet paper, too?
I'm not sure what immensity of financial crisis you're imagining, but it must be something we've never seen before that it could affect the validity of legal titles to an investor's assets. And if we were to contemplate some sort of wholesale meltdown of the entire global financial system -- as improbable as it is unthinkable -- then I'd have to say the average person's top concerns will be food, water and personal safety. What good is a stack of gold bars then? Can't eat it, can't drink it, can't shoot somebody with it. 
And where would this gold be? In your house under lock & key? Guard dogs & 24-hour security systems for when you travel? Leave it with your parents and pray they don't get burgled? A safe deposit box in your bank, which will survive this earthshaking financial crisis intact?
| TheUrbanMyth wrote: |
| Only what you can take (and keep) by force. In that case a few guns and plenty of ammo would be your best investment. |
And target practise. Lots of target practise. |
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