Korean Job Discussion Forums

[mistermasan]

to fellow americans in korea: the US dollar is down a bit. are you taking advantage of such? would you mind sharing your insight(s)?

thanks.

[Evil Boweevil]

My insight: Go to the bank, transfer your won to a US bank account in US dollars. That's how you "take advantage".

[sojourner1]

Holding onto my Won savings for now... I know my $800 US in cash is not doing anything, but decreasing in value as it sits in my drawer. I only hope no such tragic event such as a dollar value crashing occurs or any run on the banks situation.

[superdave]

sadly, i don't think the dollar will rise any time soon ...

[Thunndarr]

[skeeterses]

Unless you happen to be Warren Buffet or George Soros, there's probably not going to be anyway for you to get rich from this dollar drop that's going on.

First off, there is a heafty bank fee that occurs when you convert 1 currency to another. And then there is the matter of buying stuff that's priced in dollars, e.g. stuff that's being bought from America. You still have to pay for shipping and handling.

Although, if you happen to have experience back home running a business and you have enough Korean Won saved up, you could open an import-export business specializing in American products. The rising price of oil could make shipping and handling too expensive to run such a business.

[jennateacher]

You could pay off debt. If you have student loans with fixed interest take advantage of the rate and make a dent in the loan.

[CeleryMan]

For me, a weak dollar means cheaper US mortgage payments and property taxes. An acceptable trade-off to this lovely yellow dust we've been pounded with as of late.

Thanks Dubya!

[mattocmd]

Sign up for a Roth IRA....The IRS allows you to contribute $4000 a year. This will grow tax free for the rest of your life...meaning you will never pay taxes on growth/dividends (but remember this is for retirement).

It takes less won to contribute the max these days.

Any questions please email me [email protected]

I worked in the finance industry for a few years before coming here.

[mattocmd]

Actually ignore my last post unless you earned at least $4000 in the US in 2006. This probably goes for everyone unless you just arrived.

[PimpofKorea]

Hell I just got raped 2 weeks ago in the states because of this situation. I sent 9 grand US here. By the time I came back here I had about 8000000 won.

[lucas_p]