Question from a reader: financial obligations abroad

I'm learning from this post, thanks a lot. Given the recent volatility of the stock market, it comes to question whether maintaining a stock investment is a good idea at all.  Well it can be – it just depends on how well you manage your investment portfolio.  If you buy low, and then sell high, like it's best to – you can see some handsome dividends. First, you want to invest in a proven performer, or a company whose products/services are in high demand, or will be.  Obviously, heavily investing on a company specializing in underwater basket weaving isn't the best idea, is it?  You can make money in the stock market, but it has to be done carefully and prudently for it to pay off.

while here i would not wire money as that money can be easily traced by the tax people. since canada has no way to look into korean accounts, if you dont wire money home, you can avoid paying taxes on it. if you are forced to do so, try to use someone elses account. it may be illegal to hide the income you make here but who is not a tax cheat? if you were here for  year and made 24million WON and saved say 10g Canadian, do you want that taxed?

or

you could claim non residency status. that way you would not have to pay taxes legally. but there are things you can and can not do if you choose this route so really look into it before you do. i would say most teachers here jsut make cash and go. koreans are getting there taxes so taxes in other countries are none of their biz. being here for 7 years i have not known one person who actually claimed what they made here. good luck.

Stock market people are much like gamblers; you never hear how much they loose only how much they win/gain.

Some people do well in the stock market, I think they are very far and few between. Most people, especially English teachers with their limited amount of wealth should be more interested in preservation of their button collection than of huge gains in the stock market.  

Yes, Chris I think your list should include an 'emergency fund'. Logically before one would come to this country.

I've seen this a thousand times. People show up totally destitute or by means uncontrolled by them experience a hogwan firing,repayment of flight by the school garnishing their first pay leaving them wonless. Another example if is the school pays late or not at all. I could go on forever......

People please don't show up here unless you have at least access or have $500. This which would be at least a couple weeks in a love hotel and basic foods money while you look for employment.