Korean Job Discussion Forums

[ajstew]

I'm changing jobs shortly and will be provided key money of 20,000,000 won. Since I already have my own key money being used and the owner is unwilling to change the contract to make that 40,000,000 won, what is the best way for me to make interest off the key money?

I'm open to any suggestions. I was thinking of finding some plan where my money would sit for a year and generate interest but I've heard that 5.8% is about the maximum you could make from that. Has anybody heard of higher interest rates from other plans that I should look at? Should I be doing something else, such as investing in something like mutual funds for a higher return? (oh and keep in mind, that I'd like to do something where I can continually add about 2,000,000 a month to the base sum) I'm just looking for some advice from any of you who have done it before. Thanks.

[bovinerebel]

I used to work in this line. It depends on the term of the investment and how liquid you need the money to be(which asset class). It also depends on the risk profile. There are quantitiative tests you can take to help you get a better indication of where you should be putting your money. The great thing about Mutual funds is you can choose your risk scenrio/exposure and more importantly you ride the market.

Basically if you invest monthly what this means is that when the price of 'units" is going down you are buying more , and so when the value increases you benefit hugely. For this to work in your favor you need to be in for no less than a 3 year term. I have my money invested this way and it's worked out very well for me because I understand not to chop and change it around. The biggest mistake people make with this type of investment is they see the value going down and actually get out of the fund. Idiots.

[Juregen]

Liquidity and Risk profile are indeed the 2 major questions that need to be answered.

The rest is just picking what is left.

[nicholas_chiasson]

duh...the highest!

[Leslie Cheswyck]

Yeah, a gazillion, bazillion percent.

[Motto]

well not an expert but in a simmilar situation at the moment

this is a uk website http://www.moneysupermarket.com/savings/ but gives you an over view of types of accounts.
just general savings account should be able to get 6-7%,

i was thinking a guranteed equity bond, but need to do some more reading first, joy!


At the moment i have one equity bond account access once a year, and one savings account 6%.

[Tobias]

How much are the interest rates at the post office banks (such as Ever Rich) these days?