Korean Job Discussion Forums

cubanlord · Joined: 08 Jul 2005 Location: In Japan!

I think this is already been covered, but, I was curious how many of you have something like this open? I hear that the yields aren't too bad, but, the returns are terrible because of the tax that is levied on your gains. Is this true? I was thinking about open such an account, but, don't want to be whacked with a fat tax.

Thoughts?

poet13 · Posted: Tue Apr 07, 2009 6:25 pm Post subject:

I have a money market account with KB. Current yield is about 3.8%. I pay 15% capital gains tax.

It ain't great, but it's better than nothing.

bassexpander · Joined: 13 Sep 2007 Location: Someplace you'd rather be.

Look into Prime Bank in the basement of Technomart. I'm currently in one at 8.29 percent, but you can't get that high of a rate now. Maybe 6-ish is possible. Prime is a smaller bank, but it's been around for 30 years and is not in financial difficulty as of late. There is a guy there who speaks enough English to set you up and explain things.

poet13 · Posted: Wed Apr 08, 2009 1:07 am Post subject:

I think all the yields have dropped significantly. I have a TD at 6 something percent, but I signed up for it last fall.