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  • oglop
  • The Legend

    • 2241

    • August 25, 2011, 07:24:54 pm
    • Seoul
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #20 on: December 25, 2018, 09:57:15 am »
haha. this guy again ^


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #21 on: December 25, 2018, 11:47:30 am »
It's so effortless to save 10K a year meme is still being spread.  Yeah, if you want to live like a poor sob for 15 years.  Sounds great to spend 25 -40's  prime years of age living off 700,000/month.  That amount includes vacations, leisure, medical, and so on.. 

Like the other bloke said.  ESL teachers are working poor here.  They make less than taxi drivers and first-year generic office workers who are 23-25. It's great when you are young for a few years max but if you plan for this to be a long-term gig..  you better come up with more ways to accumulate money because  2.2-2.5 at Garlicbreath Academy is not gonna afford you anything other than an impoverished retirement. 


  • JNM
  • The Legend

    • 4079

    • January 19, 2015, 10:16:48 am
    • Seoul, South Korea
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #22 on: December 25, 2018, 12:41:54 pm »
Get married and have a kid and make them give you money when you turn 63.
I have 5 kids... playing the odds.


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #23 on: December 25, 2018, 01:06:20 pm »
Move back home, live with my parents
Till I turn 63, then it's all gravy after that.


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #24 on: December 25, 2018, 01:15:24 pm »
It's so effortless to save 10K a year meme is still being spread.  Yeah, if you want to live like a poor sob for 15 years.  Sounds great to spend 25 -40's  prime years of age living off 700,000/month.  That amount includes vacations, leisure, medical, and so on.. 

 

Oh man. You are so off with this. The majority of Americans have little or no savings and struggle to make ends meet.

https://www.cnbc.com/2018/03/15/bankrate-65-percent-of-americans-save-little-or-nothing.html

Contrast this with TEFLers in Korea, some of whom bank absolute truckloads of cash.

And when I say EFFORTLESSLY save a grand a month I mean it. You can do that with a yearly jaunt to philippines or Thailand AND a trip home to see the folks.

WHO THE HELL ARE YOU COMPARING YOURSELF TO? Most TEFLers (all?) are not on the level of investment banker or a manager of mutual funds.  Nor are they going to get an investment from shark tank/Dragon's den.





  • L I
  • The Legend

    • 3393

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #25 on: December 25, 2018, 07:47:29 pm »
And when I say EFFORTLESSLY save a grand a month I mean it.

How would you know, creeper1? You haven't lived in Korea since 2011.  :undecided:


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #26 on: December 25, 2018, 07:50:16 pm »
It's so effortless to save 10K a year meme is still being spread.  Yeah, if you want to live like a poor sob for 15 years.  Sounds great to spend 25 -40's  prime years of age living off 700,000/month.  That amount includes vacations, leisure, medical, and so on.. 

 

Oh man. You are so off with this. The majority of Americans have little or no savings and struggle to make ends meet.

https://www.cnbc.com/2018/03/15/bankrate-65-percent-of-americans-save-little-or-nothing.html

Contrast this with TEFLers in Korea, some of whom bank absolute truckloads of cash.

And when I say EFFORTLESSLY save a grand a month I mean it. You can do that with a yearly jaunt to philippines or Thailand AND a trip home to see the folks.

WHO THE HELL ARE YOU COMPARING YOURSELF TO? Most TEFLers (all?) are not on the level of investment banker or a manager of mutual funds.  Nor are they going to get an investment from shark tank/Dragon's den.

I think you're both way off.

We've talked about this in a couple topics recently. If you have lived in Korea for a couple years it's easy to forget how crappy wages and the cost of living are back home in places like the US or UK. We're in the middle of a "booming economy" yet people are still living in their cars and doing slave labor at Amazon warehouses. Everyone does the math before going to Korea, and most people figure out quickly that it makes more sense to get an easy job in Korea than struggle to get decent jobs and pay the rent back home.

The question is though when should you leave Korea. If you do 5-10 years and go back relatively young you will save a bucketload of cash (I know I did) and when you go back home you'll be able to work towards retirement. If you stay in Korea you will deal with an ageist economy and struggle to get work as you get older, and you'll get pretty much zero pension. Lifers who marry Koreans and are expected to live in Korea forever are *****ed. Buying property for a retirement fund is wise in the long run but Koreans are turning it into a gamble, just like overheated property markets in the West.
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Quote from Mr.DeMartino on June 14, 2019 at 02:28:07 pm
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  • raysmith
  • Super Waygook

    • 352

    • August 16, 2012, 07:01:58 am
    • Korea
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #27 on: December 25, 2018, 07:54:09 pm »
Understand and apply what is in the youtube clip below.  It is produced by Peter Lynch who is the author of the book 'One up on Wall Street'.

https://www.youtube.com/watch?v=ksRbMm6wYFM

I'm financially independent because of what I learnt and applied from the book.
« Last Edit: December 25, 2018, 08:02:53 pm by raysmith »


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #28 on: December 26, 2018, 07:40:08 am »
live my life to the fullest and die by 63.


  • hangook77
  • Hero of Waygookistan

    • 1179

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #29 on: December 26, 2018, 07:49:17 am »
It's so effortless to save 10K a year meme is still being spread.  Yeah, if you want to live like a poor sob for 15 years.  Sounds great to spend 25 -40's  prime years of age living off 700,000/month.  That amount includes vacations, leisure, medical, and so on.. 

Like the other bloke said.  ESL teachers are working poor here.  They make less than taxi drivers and first-year generic office workers who are 23-25. It's great when you are young for a few years max but if you plan for this to be a long-term gig..  you better come up with more ways to accumulate money because  2.2-2.5 at Garlicbreath Academy is not gonna afford you anything other than an impoverished retirement.

The problem is this wage did pay the same as those jobs and slightly more.  Their wages have crept up but many esl wages have stayed the same (though some are creeping up slightly). 


But then you have eslers saying it's fine which is part of the problem.  Damn apologists.  But EPIK did say they had some shortage of teachers.  So, that may help push wages up if it keeps up.  Supply and demand.


  • sh9wntm
  • Veteran

    • 198

    • February 23, 2018, 03:23:39 pm
    • Seoul
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #30 on: December 26, 2018, 07:56:24 am »
Don't marry someone poor and get a prenup so she can't take you to the cleaners.

I fixed it


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #31 on: December 26, 2018, 09:15:13 am »
A diversified portfolio of Lotto 6/45, Toto Proto, the pension lottery, and scratch and wins.


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #32 on: December 26, 2018, 09:15:21 am »
LOL at all the 'hope I die before I get old' posts. 80% of Americans die after the age of 65 and it probably goes up to 90% in countries with decent road safety and civilised gun control.

https://data.worldbank.org/indicator/SP.DYN.TO65.MA.ZS?view=chart
« Last Edit: December 26, 2018, 09:18:42 am by eggieguffer »


  • pkjh
  • Hero of Waygookistan

    • 1539

    • May 02, 2012, 02:59:44 pm
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #33 on: December 26, 2018, 10:44:30 am »
It's so effortless to save 10K a year meme is still being spread.  Yeah, if you want to live like a poor sob for 15 years.  Sounds great to spend 25 -40's  prime years of age living off 700,000/month.  That amount includes vacations, leisure, medical, and so on.. 

 

Oh man. You are so off with this. The majority of Americans have little or no savings and struggle to make ends meet.

https://www.cnbc.com/2018/03/15/bankrate-65-percent-of-americans-save-little-or-nothing.html

Contrast this with TEFLers in Korea, some of whom bank absolute truckloads of cash.

And when I say EFFORTLESSLY save a grand a month I mean it. You can do that with a yearly jaunt to philippines or Thailand AND a trip home to see the folks.

WHO THE HELL ARE YOU COMPARING YOURSELF TO? Most TEFLers (all?) are not on the level of investment banker or a manager of mutual funds.  Nor are they going to get an investment from shark tank/Dragon's den.

I think you're both way off.

We've talked about this in a couple topics recently. If you have lived in Korea for a couple years it's easy to forget how crappy wages and the cost of living are back home in places like the US or UK. We're in the middle of a "booming economy" yet people are still living in their cars and doing slave labor at Amazon warehouses. Everyone does the math before going to Korea, and most people figure out quickly that it makes more sense to get an easy job in Korea than struggle to get decent jobs and pay the rent back home.

The question is though when should you leave Korea. If you do 5-10 years and go back relatively young you will save a bucketload of cash (I know I did) and when you go back home you'll be able to work towards retirement. If you stay in Korea you will deal with an ageist economy and struggle to get work as you get older, and you'll get pretty much zero pension. Lifers who marry Koreans and are expected to live in Korea forever are *****ed. Buying property for a retirement fund is wise in the long run but Koreans are turning it into a gamble, just like overheated property markets in the West.

For Canadians there are CPP, OAS, and GIS. CPP is based on how much you contributed during your working years. OAS is for Canadian making under like $125,000 (way to high imo), which probably covers like 95% of the population. And GIS is supplemental income for people on the lower end of things. I think if you make under $20,000 you get GIS, and about 1/3 of Canadian seniors collect GIS.

Tells you many seniors don't make much money. There is call for that OAS cutoff to be lowered to like $45,000, so the people on the lower end can get more money.


  • Mister Tim
  • Hero of Waygookistan

    • 1529

    • September 08, 2013, 10:33:54 am
    • SK
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #34 on: December 26, 2018, 11:14:07 am »
LOL at all the 'hope I die before I get old' posts.

All two of them?

"Hope" is only a factor if one assumes the death is going to be involuntary.


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #35 on: December 26, 2018, 11:44:32 am »
LOL at all the 'hope I die before I get old' posts.

All two of them?

"Hope" is only a factor if one assumes the death is going to be involuntary.

True, I meant thinking you might not make it to retirement age as an excuse to ignore thinking about saving for the future is statistically a dumb move


  • hangook77
  • Hero of Waygookistan

    • 1179

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #36 on: December 26, 2018, 11:58:50 am »
It's so effortless to save 10K a year meme is still being spread.  Yeah, if you want to live like a poor sob for 15 years.  Sounds great to spend 25 -40's  prime years of age living off 700,000/month.  That amount includes vacations, leisure, medical, and so on.. 

 

Oh man. You are so off with this. The majority of Americans have little or no savings and struggle to make ends meet.

https://www.cnbc.com/2018/03/15/bankrate-65-percent-of-americans-save-little-or-nothing.html

Contrast this with TEFLers in Korea, some of whom bank absolute truckloads of cash.

And when I say EFFORTLESSLY save a grand a month I mean it. You can do that with a yearly jaunt to philippines or Thailand AND a trip home to see the folks.

WHO THE HELL ARE YOU COMPARING YOURSELF TO? Most TEFLers (all?) are not on the level of investment banker or a manager of mutual funds.  Nor are they going to get an investment from shark tank/Dragon's den.

I think you're both way off.

We've talked about this in a couple topics recently. If you have lived in Korea for a couple years it's easy to forget how crappy wages and the cost of living are back home in places like the US or UK. We're in the middle of a "booming economy" yet people are still living in their cars and doing slave labor at Amazon warehouses. Everyone does the math before going to Korea, and most people figure out quickly that it makes more sense to get an easy job in Korea than struggle to get decent jobs and pay the rent back home.

The question is though when should you leave Korea. If you do 5-10 years and go back relatively young you will save a bucketload of cash (I know I did) and when you go back home you'll be able to work towards retirement. If you stay in Korea you will deal with an ageist economy and struggle to get work as you get older, and you'll get pretty much zero pension. Lifers who marry Koreans and are expected to live in Korea forever are *****ed. Buying property for a retirement fund is wise in the long run but Koreans are turning it into a gamble, just like overheated property markets in the West.

Bolded, if you're dumb enough to live in New York or California then sure.  Some folks are just stubborn I guess.  High costs, high taxes, strict environmental rules and other regulations that drive away industry to other states or even overseas.  Then, the governments locally and sometimes state policies too restrict land for development or have strict zoning rules and then preserve land for environmental and other reasons which cut off supply when many are moving in plus foreigners investing and it's the perfect storm to drive up prices to insane levels.  Supply and Demand.

Find a midwestern state where there is some recovery or industry, go to Texas which I think is reasonably priced or some other southern state or even sunbelt state.  Would you rather make 45 K a year in California and not be able to survive or make 40 K a year in Texas or some other state where they let you keep more of your money and the cost of living is much much cheaper.  Midwestern states like Ohio, Indiana, Wisconsin, etc are doing better nowadays too?  Illinois is in the shitter.  Letting far left Democrats run your state ruins it. 

I'm a duel citizen.  So, I'll also say as an honorable mention, letting Trudeau run your country the same way as some of these states and even worse in many cases will also ruin your country.  If I chose Canada it would be hard to choose because the federal government is so screwed up.  Saskatchewan has a decent economy and cheap living costs.  Alberta has traditionally had that but unemployment is still a bit high due to oil issues in that province.  Calgary would be nice due to being near the rocky mountains.  Prices are high but not as bad as Toronto or Vancouver.  Saskatchewan cities are small but you could live more cheaply if you find a decent job.  Cities are more exciting but are no fun if you can't afford to live there.  Then, there's no point. 


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #37 on: December 26, 2018, 12:23:16 pm »

Find a midwestern state where there is some recovery or industry, go to Texas which I think is reasonably priced or some other southern state or even sunbelt state.  Would you rather make 45 K a year in California and not be able to survive or make 40 K a year in Texas or some other state where they let you keep more of your money and the cost of living is much much cheaper.  Midwestern states like Ohio, Indiana, Wisconsin, etc are doing better nowadays too?  Illinois is in the shitter.  Letting far left Democrats run your state ruins it. 


The former... Texas doesn't seem too bad, I guess. A buddy of mine just moved to Ohio for work and he's trying to move back to Massachusetts as soon as possible. Maybe if you're born there it's not so bad, but I've never met anyone who has moved inland and not wanted to get out ASAP. The only exception to that is a few "I'm tired of this hippy liberal shit" type people, but their motivations were not strictly financial.

I have no doubt that you could save more money, have a bigger house, etc etc. And in the long run all that stuff is probably more important, but you'd have to pay me quite a lot ($$$$$) to move to Wisconsin or Ohio.


Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #38 on: December 26, 2018, 12:24:08 pm »
I figure once I hit 30 it's time to switch careers. I don't think I can save for retirement working in tefl. Just need to save so I can make a transition into something more profitable.


  • zola
  • The Legend

    • 2736

    • September 30, 2012, 06:56:11 am
    • Korea
Re: Whats your strategy to have enough money to live off by the time you are 63
« Reply #39 on: December 26, 2018, 12:26:36 pm »
Find a midwestern state where there is some recovery or industry, go to Texas which I think is reasonably priced or some other southern state or even sunbelt state.  Would you rather make 45 K a year in California and not be able to survive or make 40 K a year in Texas or some other state where they let you keep more of your money and the cost of living is much much cheaper.  Midwestern states like Ohio, Indiana, Wisconsin, etc are doing better nowadays too?  Illinois is in the shitter.  Letting far left Democrats run your state ruins it.

Really? That doesn't sound right. But lets look anyway...

Top 10 best preforming state economies
1. Washington - Democrat elected governor, lower and upper house
2. Massachusetts - Republican Gov. Democrat lower and upper
3. Texas - Republican gov, lower and upper
4. Colorado - Democrat elected governor, lower and upper
5. California - Democrat elected governor, lower and upper
6. Utah - Republican gov, lower and upper
7. Nebraska - Republican gov, lower and upper
8. Rhode Island  - Democrat elected governor, lower and upper
9. Maryland - Republican Gov. Democrat lower and upper
10. Oregon - Democrat elected governor, lower and upper

Some Dems. Some Republicans. But mostly Democrats. So far, your thesis looks shaky.


Bottom 10 Worst preforming state economies
50. Alaska - Republican elected gov. upper and lower
49. Louisiana Democrat elected Gov. Republican upper and lower
48. New Mexico Democrat elected gov, upper and lower
47. South Dakota Republican elected gov. upper and lower
46. Kentucky Republican elected gov. upper and lower
45. Mississippi Republican elected gov. upper and lower
44. West Virginia Republican elected gov. upper and lower
43. Kansas Republican elected gov. upper and lower
42. Arkansas Republican elected gov. upper and lower
41. Tennessee Republican elected gov. upper and lower

That's a lol
Oh dear. A lot of red. And I though Republicans were great at running the economy/

Kpip! - Martin 2018