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Weigookin74
Joined: 26 Oct 2009
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 Posted: Wed Dec 26, 2012 5:10 pm Post subject: |
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| Zulethe wrote: |
People keep harping on debt...who cares? Does it really affect your mind if you'er 1 dollar or one million dollars in debt?
Debt is a social construct that our society has taught us to worry about.
Really think about it...would your life really change that much if you had no debt?
Only if you let it.
So you spend 30 years to pay off your debt and then die. Or you live your life with debt and enjoy yourself to the end.
I feel exactly the same now that I have significant savings than when I was broke...to be totally honest I had less stress when I was broke...having money is what stresses me out. |
Except for when you lose your job and can't get any more money because you didn't pay off what you owed before. Then, you're living on the street. I lived on cash for a few years due to bad credit and was always a couple of paychecks away from living on the street. No one would lend me money. When you max everything out and then have no safety cushion when you end up unemployed, it ain't so fun then. Get out of debt as soon as possible. Live like a troll for 2 or 3 years if you have to. But, getting a family with this debt is no fun. Prob impossible, unless you meet a 30 or 40 something K chick who makes good money already. But, we all have to start from somewhere. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Wed Dec 26, 2012 5:18 pm Post subject: |
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| silkhighway wrote: |
| No_hite_pls wrote: |
| swashbuckler wrote: |
| PatrickGHBusan wrote: |
A friend of mine who was in Korea years ago (he left in 2002ish) is going back this year. Job market changed on him and his family in Canada and he will be out of work soon.
Anyway, best of luck. |
Yep, if you can't 'make it' back home or life throws you a curve ball, there's always an English teacher clown job waiting for you in a hagwon or elementary school somewhere in Korea. |
Yep, if you have an University degree, clean health check, clean background check, TESOL Certification, willing to fly 10,000 km from your friends and family and are willing to work for less than $25,000 a year then I guess what you wrote is true. |
I got a chuckle at this.
I don't know...over 35 with over 50K in debt..I think you need to be realistic about what you can do. Unless you built that debt up getting your PhD in linguistics, than doing a career teaching ESL and then affording a 'retirement', at least in the traditional sense, is probably not going to be among your options. It will be extremely hard if you're single and downright impossible if you have a family. ESL is also a game where youth is idolized and you're always on one year contracts.
If you're in dire financial straits right now, maybe the best thing to do is try to declare bankruptcy or take steps before that where your debts are reduced and consolidated. If you take the legal steps to take care of your debt and still decide to come to Korea, at least you know you can start building your credit again if you return home and you won't have the 50K debt hanging over you like a prison sentence. |
The youth idolized thing is very true. Keep yourself fit. I do more than before and fixed a very bald top. Now in shape and with hair, I can compete with kids 10 years younger flooding into this market. Kids get just as excited to see me as they do a 23 year old. Parents seem to oblige and the moms like to stare. Being debt free will, in the future, allow you to try other countries too. Japan and some others allow you to live there comfortably or ok but not to have much left over to send home.
As for the yearly thing, that's true. It's why I wonder about those who do default on everything. They may be non renewed, have the market collapse, or have to go home and face the music.
AS for retirement, most of the North American middle class is facing working longer anyhow into their 70's and are. So, we're prob no different. Government pensions by themselves won't cut it. |
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Mrsk
Joined: 22 Aug 2012
Location: Canada
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| Posted: Sat Dec 29, 2012 7:58 pm Post subject: |
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Very interesting to read all your posts. I do not have advice to offer, sadly, but want to wish you the best in whatever you choose.
My hubby and I just made the decision to move to Korea with our two small children. Our goals are similar. Pay off debt (though smaller), raise our family, (homeschooled so somewhat less expensive), and save for retirement. Hubby will work from home (internet based business) so with great budgeting, we hope to retire in about 35years in Korea. Well, perhaps in Thailand but that remains to be seen 
I appreciate the info put forth here. It gives me some insight into our future and our goals. Never thought $1mil would be necessary but I guess inflation never ceases.
If anyone has first hand experience with retirement investing from Korea in NA or even Korea, we would greatly appreciate input. That is our last hurdle to surmount in our Korean life plan.
Thanks again to everyone for advice and input. |
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Paddycakes
Joined: 05 May 2003
Location: Seoul
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| Posted: Sat Dec 29, 2012 8:16 pm Post subject: |
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| Mrsk wrote: |
Very interesting to read all your posts. I do not have advice to offer, sadly, but want to wish you the best in whatever you choose.
My hubby and I just made the decision to move to Korea with our two small children. Our goals are similar. Pay off debt (though smaller), raise our family, (homeschooled so somewhat less expensive), and save for retirement. Hubby will work from home (internet based business) so with great budgeting, we hope to retire in about 35years in Korea. Well, perhaps in Thailand but that remains to be seen
I appreciate the info put forth here. It gives me some insight into our future and our goals. Never thought $1mil would be necessary but I guess inflation never ceases.
If anyone has first hand experience with retirement investing from Korea in NA or even Korea, we would greatly appreciate input. That is our last hurdle to surmount in our Korean life plan.
Thanks again to everyone for advice and input. |
You'd better talk to a tax attorney who specializes in expat affairs instead of asking for advice on Dave's.
I wish you the best of luck. The number of foreigner/foreigner couples raising kids in Korea as ESL teachers is very small.
And among that group, the number who actually "retire" in Korea would be microscopic.
Most have a Korean spouse.
But if you have the right mindset, you could probably pull it off.
My best advice to you would be to get a job at an Int'l school so you could send your kids there tuition free.
Home schooling sounds good in theory, but to actually pull it off is another story. |
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northway
Joined: 05 Jul 2010
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| Posted: Sat Dec 29, 2012 8:23 pm Post subject: |
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| Mrsk wrote: |
Very interesting to read all your posts. I do not have advice to offer, sadly, but want to wish you the best in whatever you choose.
My hubby and I just made the decision to move to Korea with our two small children. Our goals are similar. Pay off debt (though smaller), raise our family, (homeschooled so somewhat less expensive), and save for retirement. Hubby will work from home (internet based business) so with great budgeting, we hope to retire in about 35years in Korea. Well, perhaps in Thailand but that remains to be seen
I appreciate the info put forth here. It gives me some insight into our future and our goals. Never thought $1mil would be necessary but I guess inflation never ceases.
If anyone has first hand experience with retirement investing from Korea in NA or even Korea, we would greatly appreciate input. That is our last hurdle to surmount in our Korean life plan.
Thanks again to everyone for advice and input. |
Was that meant to read 3-5 years, or am I actually reading this right that you're planning out 35 years in the country? |
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OBwannabe
Joined: 16 Feb 2008
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| Posted: Sun Dec 30, 2012 6:59 pm Post subject: |
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So many terrific answers and great info. Thanks so much for the replies. I was half expecting to get flamed for starting this thread.
Someone mentioned that they suspect that I miss being an expat. I would have to agree, for the most part.
I also miss teaching and the atmosphere in an educational setting. I now work a blue collar job and don't mind the work....but don't care much for most of my coworkers and the blue collar mindset of the city overall.
One thing I've found to be absolutely true. Those who know the least, believe they know the most. Those who truly know the most, recognize just how little they really know and yearn to learn more.
Throw in K-gals and and the opportunity to get ahead financially and that pretty much wraps up what I miss so much about living in Korea.
But after much thought and soul searching....I've decided to stay in this stable, but unsatisfying job. I've always been horrible with money and the forced savings of a pension and great health benefits is something I need.
Plus, I work for an airline...so popping over to the ROK for some authentic sam gyup sal and soju is a piece of cake.
When it comes right down to it though...I'm just too much of a coward, but hey...I accept that.
Thanks everyone. |
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swashbuckler
Joined: 20 Nov 2010
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| Posted: Sun Dec 30, 2012 7:50 pm Post subject: |
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| OBwannabe wrote: |
| Throw in K-gals and and the opportunity to get ahead financially and that pretty much wraps up what I miss so much about living in Korea. |
Can't you just date women in your own country? Or are you too much a weirdo for that like a lot of other EFL losers? |
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OBwannabe
Joined: 16 Feb 2008
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| Posted: Sun Dec 30, 2012 8:04 pm Post subject: |
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| swashbuckler wrote: |
| OBwannabe wrote: |
| Throw in K-gals and and the opportunity to get ahead financially and that pretty much wraps up what I miss so much about living in Korea. |
Can't you just date women in your own country? Or are you too much a weirdo for that like a lot of other EFL losers? |
Ah...there's the flame.
Missed a paragraph did ya?
"Someone mentioned that they suspect that I miss being an expat. I would have to agree, for the most part.
I also miss teaching and the atmosphere in an educational setting. I now work a blue collar job and don't mind the work....but don't care much for most of my coworkers and the blue collar mindset of the city overall."
I could write a book about my escapades both home and abroad. I've lived a blessed life in that respect.
Nothing wrong with enjoying the company and atmosphere that goes along with K-gals. And I don't mean by trying to bed every chick that comes my way. Besides...I was just saying that was the icing on the cake, not my main reason for being there. |
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