What do you do with your extra money?


#1

What do you do with your extra money?

  • Invest here
  • Invest abroad
  • Paying back debts right now
  • Extra money? (too much binlang, KTV and [insert name] Beer)

0 voters

That is assuming you have extra money to spend right now. When I’m done paying an old debt (which should be soon) I’d like to know what the best move for my loot would be.

Invest here?
Invest abroad?

The poll assumes a bank account here with spending/back-up money, but what about that retirement/war with China money? Also, invest means everything (savings, stocks, mutual funds, etc.).


#2

You should add a choice that reads something like: Save half/reduce debt with the other half. That’s what I do.


#3

I do the following with my money

  1. Keep enough to pay off my student loans after they come out of deferrment in 18 months. You can defer your student loans for 3 years while you’re in Taiwan. PM me for details

  2. Max out my Roth IRA yearly

  3. Keep 6 months living expenses in an interest bearing acct.

  4. Keep it in US dollars

I read or use the following websites financial information:

www.fool.com (free registration required)

www.vanguard.com (cheapest fees for index funds, read fool.com to learn about those)

www.netstockdirect.com (You don’t necessarily need to pay commissions or have a broker to invest in stocks, learn the beauty of DRIPs and direct purchase plans)

If I wasn’t looking into starting my own business, I would be investing in DRIPs again. It’s hard to legally establish a business in Taiwan though. I don’t trust the Taiwanese gov’t as they have a tendency to play with the exchange rate out of my favor. I have 3 months to work it out and then I’ll know how my investment priorities change. If skip on doing a business here, than it will be pay off student loans and start on DRIPs after I max out my IRA for 2003.

CYA
Okami


#4

Okami, thank you very much for that. Sounds right around what I’ll want to do.

Tomas, when there are debts all saved money is really going towards your debt until it’s payed off (mathematically speaking), I thought about adding that one but ended up leaving it out for that reason.


#5

What extra money?


#6

Save it and transfer it back once in a while where.


#7

Having been caught by currency collapses and rule changes before I get any spare money out of the country ASAP. It’s better invested in your own country where it’s safer.


#8

It’s better invested in your own country where it’s safer.

Now that depends where you come from …