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Q: Financial planning for retirement?
Hey Guys
Recently I called Vanguard and I was hoping to open up a Roth IRA to start contributing towards retirement. They told me that I can't open an account if I'm overseas / spend most of my time overseas. Are there other investing companies that allow this?
What do you guys do for financial planning? I've accumulated quite a bit of cash in China now and I'm looking to let it grow.
9 years 22 weeks ago in Money & Banking - China
Option 1: set up trading account in hk, buy whatever you want, wherever you want, whenever you want.
Option 2: if cash was earned illegally and you have no way of proving you are employed then buy gold currency, again in hk, transport said money on a flight home to visit your parents, sell coins on other side. Then open an account while your at home.
Option 3: just use the bank system To transfer and go home and open an account
Option 4: if you have a registered and verified paypall account from back home its shockingly easy to get registered and verified here and transfer money between the two.
Option 5: western union, most of these require you to go home.
chened123:
Yea options 3-5 is kind of what I want to do. The only trouble is going home. Airline tickets and time.....
fada:
Another amazingly easy option is to get a card from your bank that works abroad, it most likely will have to be a visa card or some such, send this card to your family member and he can withdraw money from your chinese account while he is at home, it will take a long time to transfer large amounts but its easy and pain free, more than likely by far the cheapest option also, especially considering you dont have to fly anywhere.
You should look into offshore. Isle of Man, Caymen Islands，Virgin Islands. That sort of thing.
When I moved over here I got a letter from my UK bank to say they wanted to shut my account. Something to do with money laundering.
icnif77:
They drive on the wrong side of the road in Grand Cayman, like you. Narrow streets. It very easy to get hurt as pedestrian.
Don't forget Guernsey, however you'll need loads in Guernsey. Singapore is also good I hear. Some S. American countries.
ScotsAlan:
I didnt mention Guernsey because my ex-wife has family there :) But I did live on the Isle of Man for over a decade.
icnif77:
Personal issues?
If you can get Residence permit in Guernsey, it's better (lower tax) than anywhere in UK or EU.
ScotsAlan:
I have Manx worker status on the Isle of Man. I dont need a work permit there, and am also entitled to social welfare :)
Option 1: set up trading account in hk, buy whatever you want, wherever you want, whenever you want.
Option 2: if cash was earned illegally and you have no way of proving you are employed then buy gold currency, again in hk, transport said money on a flight home to visit your parents, sell coins on other side. Then open an account while your at home.
Option 3: just use the bank system To transfer and go home and open an account
Option 4: if you have a registered and verified paypall account from back home its shockingly easy to get registered and verified here and transfer money between the two.
Option 5: western union, most of these require you to go home.
chened123:
Yea options 3-5 is kind of what I want to do. The only trouble is going home. Airline tickets and time.....
fada:
Another amazingly easy option is to get a card from your bank that works abroad, it most likely will have to be a visa card or some such, send this card to your family member and he can withdraw money from your chinese account while he is at home, it will take a long time to transfer large amounts but its easy and pain free, more than likely by far the cheapest option also, especially considering you dont have to fly anywhere.
Well, my wife stuffs our money in a savings account here in China and that earns us some money. I wouldn't invest in the stock market. Gold seems like a good option... and always on the rise. Investing your money into a up-and-coming start-up tech company could be a good idea.
You can just open a regular taxable trading account that's not a retirement account. You can start a scottrade account with as little as 500 bucks.
I am not going to live ling enough to retire, so it does not matter what I do.
I am not going to live ling enough to retire, so it does not matter what I do.
I am not going to live ling enough to retire, so it does not matter what I do.
As somebody said before, you must only put money on the stock market that you are prepared to lose. having a broad portfolio of share that you think will go up over time is the best tradin strategy. daytrading is the worst. trading is unlikely to increase your retirement funds. in a savings account like robk said or pehaps in property.
chened123:
Yea I definitely wasn't going for day trading. I was looking into ETFs and Mutual funds, scattering my investments wide. I'm just unsure about the Chinese market in a long term sense.
Never do today that which can be put off until tomorrow.
