January 18, 2018, 04:16:14 AM

Author Topic: The Exchange Rate right now... [MEGA THREAD]  (Read 149494 times)

Offline Summer

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #680 on: March 29, 2017, 07:36:17 PM »
I would love to send money home, but the longer I stay here, the more money gets tied up in housing deposits, furniture, etc.

Same... Sent a bunch of money back last year (50mil) and now I have 20mil in the bank. Going to get married and buying a house in Korea in the next 3 years so I have to keep money here  :cry:

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Offline weigookin74

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #681 on: March 31, 2017, 07:53:20 PM »
Yeah, best rate it's been in a decade.
You are referring to the CAD-KRW, not USD-KRW, right?  (the latter is not true)

Yes, I am sorry.  I do sympathize.  Our exchange was bad like yours for several years.  I know all too well the frustration of it when you're trying to pay crap off.  As for us, once oil goes back up, our dollar will go back up and then we will have a bad rate again too.  I'm under no illusion about that.  Long term, Korea isn't going to pay off.  Best for us all to have an exit plan and not be here next decade.

Offline stan rogers

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #682 on: April 02, 2017, 09:07:39 PM »
Yeah, best rate it's been in a decade.
You are referring to the CAD-KRW, not USD-KRW, right?  (the latter is not true)

Yes, I am sorry.  I do sympathize.  Our exchange was bad like yours for several years.  I know all too well the frustration of it when you're trying to pay crap off.  As for us, once oil goes back up, our dollar will go back up and then we will have a bad rate again too.  I'm under no illusion about that.  Long term, Korea isn't going to pay off.  Best for us all to have an exit plan and not be here next decade.

My exit plan is death. When I'm dead I'm definitely outa here!

Online Life Improvement

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #683 on: April 02, 2017, 10:18:28 PM »
Your remains will go to a Western cemetery rather than a Korean one?

Online grey

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #684 on: April 11, 2017, 08:44:14 AM »
Hopefully this hullabaloo with North Korea is a short-term thing.

Canadian Dollar is now stronger than the Australian.
Ko fills half his luggage with instant noodles for his international business travels, a lesson he learned after assuming on his first trip that three packages would suffice for six days. “Man, was I wrong. Since then, I always make sure I pack enough.”
-AP

Offline weigookin74

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #685 on: April 11, 2017, 09:09:46 AM »
Either way, we all ought to use this time to save.  Who knows what the next decade will bring or not bring.  We all may see a slump and have to return home.  For now, pinch the pennies and send as much home as possible while the rates are good (if they are good for you). 

Online AlivePoet

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #686 on: April 11, 2017, 12:05:14 PM »
Either way, we all ought to use this time to save.  Who knows what the next decade will bring or not bring.  We all may see a slump and have to return home.  For now, pinch the pennies and send as much home as possible while the rates are good (if they are good for you).

I'd rather enjoy life rather than pinching pennies, but to each their own. It's easy enough to save $1000+/month without pinching pennies. Saving an extra couple hundred while foregoing life's pleasures wouldn't make that much difference in the long run financially anyway.

Offline Pecan

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #687 on: April 11, 2017, 01:02:59 PM »
Saving an extra couple hundred while foregoing life's pleasures wouldn't make that much difference in the long run financially anyway.
I hear you about pinching pennies and balancing life's pleasures.

However, if you honestly believe that saving a couple extra hundred dollars each month wouldn't make a difference in the long run...you best have someone else handle your finances, as nothing could be further from the truth.

Offline teacher1988

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #688 on: April 12, 2017, 08:10:36 AM »
It's important to note that spending money does not equate to happiness or enjoying life. It's important to have hobbies but hey, a stupid purchase is a stupid purchase. We've all had plenty of those.
Let's look at the scenario where you decide to save instead of spend.

Assuming you invest the extra money you save from penny pinching, it will net you on average 7% per year. In 10 years, $200 per month of penny pinching would on average be able to get you about $33,000 ($24,000 invested, $9000 profit). While you might scoff at that $33,000; 7% of that is also nearly worth $200/mo. That's money you earn for simply breathing. Money you can either spend or remain invested. Or, under the 4% safe withdrawal rate, you'd be able to withdraw $110 extra per month for the remainder of your life.

It's up to you to decide whether $110/mo for just sleeping and going about your life makes a difference to you financially. To me it is because it's nearly 10% of my expenses.

Offline weigookin74

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #689 on: April 12, 2017, 08:36:16 AM »
Either way, we all ought to use this time to save.  Who knows what the next decade will bring or not bring.  We all may see a slump and have to return home.  For now, pinch the pennies and send as much home as possible while the rates are good (if they are good for you).

I'd rather enjoy life rather than pinching pennies, but to each their own. It's easy enough to save $1000+/month without pinching pennies. Saving an extra couple hundred while foregoing life's pleasures wouldn't make that much difference in the long run financially anyway.

Except if the rug gets pulled out from under you and you have nothing to live on and can't buy food.  Experiencing a bout of unemployment isn't fun.  Trust me; I've been there.  Had to skimp to two meals a day for a very brief time.  (It was a great way to lsoe weight I guess.)

Online grey

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #690 on: April 21, 2017, 01:27:31 PM »
I think thermonuclear war is less likely than last week?

Won is finally below 850.

Spend your money the way you want:)
Ko fills half his luggage with instant noodles for his international business travels, a lesson he learned after assuming on his first trip that three packages would suffice for six days. “Man, was I wrong. Since then, I always make sure I pack enough.”
-AP

Offline weigookin74

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #691 on: April 24, 2017, 06:43:33 PM »
Sweetness!!

2,000,000 KRW =
2,377.781CAD

Stay down Cdn Dollar.... 

Stay down till a couple of days after payday.  Woo Hoo!

Online Life Improvement

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #692 on: April 24, 2017, 07:45:00 PM »
2,000,000 KRW = 1,773.671 USD  :cry:

Offline Jgrat

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #693 on: April 25, 2017, 08:12:15 AM »
Either way, we all ought to use this time to save.  Who knows what the next decade will bring or not bring.  We all may see a slump and have to return home.  For now, pinch the pennies and send as much home as possible while the rates are good (if they are good for you).

I'd rather enjoy life rather than pinching pennies, but to each their own. It's easy enough to save $1000+/month without pinching pennies. Saving an extra couple hundred while foregoing life's pleasures wouldn't make that much difference in the long run financially anyway.

Actually, saving just 100 extra dollars a month over 35 years could result in compounded gains of around $135,496 dollars. (inflation adjusted $135,496 would spend like $61,500 approx 2017 dollars).

Annual Savings $1200
7% average compounded return
Time of Compounding Returns 35 years

But I agree with you a little extra fun now while you're young and can enjoy it or a used Porsche when you're retired.

The edit was a minor math error. I accidentally entered the wrong historical average for inflation. Sorry, It's early still.
« Last Edit: April 25, 2017, 08:17:09 AM by Jgrat »

Offline weigookin74

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #694 on: April 25, 2017, 08:21:16 AM »
2,000,000 KRW = 1,773.671 USD  :cry:

Sorry man.  Your President's bringing back the jobs and firing the economy on full recovery.  The US dollar will rise.  Fortunately for Canadians in Korea, we have a spongehead for a Prime Minister who will drive our dollar down by sheet stupidity of economic policies meant to drive jobs away.  (He does what the globalists tell him to do without an independant intelligent thought of his own.)  At least I can bank some coin for the time being. 

As for what you're going through, I went through it for several years.  It sucked when trying to pay off debt.  At least you may have a good economy to return to eventually.  I'm not sure what I can return to. 

Online grey

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #695 on: April 25, 2017, 11:57:42 AM »
2,000,000 KRW = 1,773.671 USD  :cry:

Sorry man.  Your President's bringing back the jobs and firing the economy on full recovery.  The US dollar will rise.  Fortunately for Canadians in Korea, we have a spongehead for a Prime Minister who will drive our dollar down by sheet stupidity of economic policies meant to drive jobs away.  (He does what the globalists tell him to do without an independant intelligent thought of his own.)  At least I can bank some coin for the time being. 

As for what you're going through, I went through it for several years.  It sucked when trying to pay off debt.  At least you may have a good economy to return to eventually.  I'm not sure what I can return to.

My grandparents hate Pierre and how the debt changed under his leadership.

A lower dollar is good for exports and makes Canada a more attractive place for business. A rise back to 90 cents would be pretty bad for what some might argue, are industries in fairly bad shape.

Also, the dollar is back to the mid 830s, so think about exchanging if you you just got paid.
Ko fills half his luggage with instant noodles for his international business travels, a lesson he learned after assuming on his first trip that three packages would suffice for six days. “Man, was I wrong. Since then, I always make sure I pack enough.”
-AP

Offline JNM

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #696 on: April 25, 2017, 12:06:18 PM »
Either way, we all ought to use this time to save.  Who knows what the next decade will bring or not bring.  We all may see a slump and have to return home.  For now, pinch the pennies and send as much home as possible while the rates are good (if they are good for you).

I'd rather enjoy life rather than pinching pennies, but to each their own. It's easy enough to save $1000+/month without pinching pennies. Saving an extra couple hundred while foregoing life's pleasures wouldn't make that much difference in the long run financially anyway.

Actually, saving just 100 extra dollars a month over 35 years could result in compounded gains of around $135,496 dollars. (inflation adjusted $135,496 would spend like $61,500 approx 2017 dollars).

Annual Savings $1200
7% average compounded return
Time of Compounding Returns 35 years

But I agree with you a little extra fun now while you're young and can enjoy it or a used Porsche when you're retired.

The edit was a minor math error. I accidentally entered the wrong historical average for inflation. Sorry, It's early still.
That 7% return is a dream.

That's the number they told me 20 years ago when I graduated. 

It isn't true.

Online grey

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #697 on: April 25, 2017, 12:10:57 PM »
Take a look at canadiancouchpotato.com

It has some pretty appealing analytics for index investors.
Ko fills half his luggage with instant noodles for his international business travels, a lesson he learned after assuming on his first trip that three packages would suffice for six days. “Man, was I wrong. Since then, I always make sure I pack enough.”
-AP

Offline weigookin74

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #698 on: April 25, 2017, 12:26:53 PM »
2,000,000 KRW = 1,773.671 USD  :cry:

Sorry man.  Your President's bringing back the jobs and firing the economy on full recovery.  The US dollar will rise.  Fortunately for Canadians in Korea, we have a spongehead for a Prime Minister who will drive our dollar down by sheet stupidity of economic policies meant to drive jobs away.  (He does what the globalists tell him to do without an independant intelligent thought of his own.)  At least I can bank some coin for the time being. 

As for what you're going through, I went through it for several years.  It sucked when trying to pay off debt.  At least you may have a good economy to return to eventually.  I'm not sure what I can return to.

My grandparents hate Pierre and how the debt changed under his leadership.

A lower dollar is good for exports and makes Canada a more attractive place for business. A rise back to 90 cents would be pretty bad for what some might argue, are industries in fairly bad shape.

Also, the dollar is back to the mid 830s, so think about exchanging if you you just got paid.

Is our industry so pathetic and uncompetitive that it can't compete at a near parity amount?  Yes.  It shows how complacent our industries were while mostly relying on protectionism and government control to make their money.  (...and folks wonder why Canada's such a high priced rip off.  Everyone gets fleeced while everyone along the way get their cut.  Makes our products expensive, but our industries coast off a low dollar to export at a more competitive price.  Truthfully, we don't even have the good paying jobs anymore to go with it.  Plants in Ontario close and relocate frequently.  Add in provincial and federal Liberals taxing and regulating the hell out of industry and it's been leaving.  Even a low dollar doesn't seem to be enough to save it like before.  I'm happy to have a low dollar for a time.  But, long term, it's terrible for the country.)

When industry got lazy by coasting off a low dollar from the late 90's and beyond, it took a beating post 2008 because it's eggs were in one basket.  But to truly lower prices on a parity dollar level, that would mean many players get their hand out of the pot taking their cut including government.  There seems to be no willingness to do that and Canadians continue to have their heads up their butts. 

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Re: The Exchange Rate right now... [MEGA THREAD]
« Reply #699 on: April 25, 2017, 12:51:26 PM »
I agree that the Canadian economy could do a lot better. I would agree that poor governing has a hand in that.

That being said, Canada like many other relatively small countries, cannot compete with the powerhouse that is the USA in many ways (I think).

I am a big fan of diversification and long-term success. Those at the top probably didn't take risks because they would be known as the guys who cratered xyz area, even if it lead to prosperity in the medium to long term.
Ko fills half his luggage with instant noodles for his international business travels, a lesson he learned after assuming on his first trip that three packages would suffice for six days. “Man, was I wrong. Since then, I always make sure I pack enough.”
-AP