There have been tons of jobs for years, no doubt, but the pay sucks. Half of college grads nowadays are starting out at under $30k. It’s a joke. Real wages are actually falling.
You don’t want to be that guy that HAS to be in taiwan
If you live in Taiwan it’s better if you wanted to be there
3 Likes
College grads have it tough in the US too esp with astronomical loans. But when I compare everyone my age (mid 30s) in the US to Taiwan… most working professionals I know in our 30s in the US already own a house have paid off our huge student loans and have about 100k-200k USD in retirement investments and a Networth over 250k-500k USD some much higher some lower but thats a good average… maybe thats more among ABCs
Then I see my friends, cousins in Taiwan of the same age, similar level/type of job and its just sad to compare, when Im comtemplating a second house for rental investment and they may never have any house unless their parents hand down to them
1 Like
Yepz there’s no comparison with earning power here compared to Taiwan.
Same job in US would be pulling in 3 or 4 times the pay easily. Im not talking min wage jobs.
2 Likes
Its true I went through that Phase, a lot of that is student debt. But the savings compound very quickly once out of debt. 36 might be 20k but 37 will be 25k 38 will be 31k. Also in peoples 30s they tend to become financially more savy, learn to save and invest whereas in your 20s in the US people party, and have student loans.
Now, this might be true of the working professionals you know, but I doubt this would be the case for the median person in the US who is in this 30s. I would even venture to say that the net worth of the median person in his 30s is higher in Taiwan than in the US
2 Likes
Those numbers are average, do you have something similar that shows median? Wealth inequality is enormous in the US so looking at averages might paint a inaccurate picture.
Yes because many are still paying off student loans in 30s, once thats done they can save and the equation changes a lot. For example a doctor would likely have a negative 100k-150k student loans in 30s but that can be paid off in 5 years if they try.
Agree with your 3 replies to @Jack2, but the number @Belgian_Pie provides of Taiwanese working/living in China cannot be that far off to be considered fake news.
1 Like
Cost of living is also 3 to 4 times higher in the US.
I don’t really see your point. Why come to a Taiwan forum and argue that things are better in the US?
When I left the US last year I didn’t get the impression things were good at all for most people. I think US businesses and land lord are doing fantastic.
1 Like
So, which one is it, do your friends have a networth of 250-500k in their 30s or do they have a negative net worth due to student loans?
They have a networth of 250-500k. I was explaining the negatives on Gains list which shows negative numbers in the 30s, those are mainly from Student Loans. Unless they are a doctor/lawyer most working professionals are able to pay off student loans by the mid to late 30s some earlier. Then they can start saving a lot.
You said it was 250 to 500k.
I actually agree. I have multiple friends in their 20s, who aren’t overachievers and not in IT, making around 35-40k a month. Their networth is around 200 to 400k (TWD) now after working for a couple of years and they don’t live at home because their family isn’t in Taipei.
Frankly, I find it pretty distasteful that people here always mocking Taiwanese ppl living at home. A) There is nothing wrong with living with parents, and B) not EVERYONE lives at home. Many people rent in Taipei because not everyone’s family is in the Taipei region.
I don’t see the point making an argument against your repulsive IQ bs.
Average usually looks a lot better than median so median is more likely to look worse.
https://udn.com/news/story/7238/2960653?from=udn-hotnews_ch2
It’s 0.4 mil, and UDN is very pro-China.
1 Like
This is generally true is most countries, the middle class is going away. Likely due to IMF, World Bank and WTO but thats a diff topic
Yes, I understand what you are saying about student loans being the reason for the negatives. But, what I am saying is that having a net worth of 250k-500k in his thirties in the US is not normal. Now, it might be that this is the case with your friends, but this not not the norm(as can be seen from the statistic shown)
The median networth in Taiwan is probably better than in the US because most people are not in debt to the same extent as in the US.
1 Like
That is actually true.
Median wealth per adult (Credit Suisse)
Taiwan $87,257
USA $55,867
Exactly, but thats a legacy of TW Boomer Generation money. My grandpa just had to sell his farm in Taichung and give it to his kids to be rich…Today its different… A lot of that networth is tied to those houses that Boomers bought.
1 Like
Isn’t that the case for a lot of wealth around the world?
1 Like
