Comments on: This is how I spend my free time? http://blog.torgodevil.com/archives/236 Crunky! This is a blog about an English teacher living in South Korea. Fri, 21 Nov 2008 00:12:02 +0000 http://wordpress.org/?v=2.6.3 By: daeguowl http://blog.torgodevil.com/archives/236#comment-703 daeguowl Fri, 06 Oct 2006 21:14:10 +0000 http://www.torgodevil.com/?p=236#comment-703 15%...I wish mine is 22% plus 11% national insurance. This will soon be 40% plus 12%....it's hardly worth working 15%…I wish mine is 22% plus 11% national insurance. This will soon be 40% plus 12%….it’s hardly worth working

]]> By: Eric http://blog.torgodevil.com/archives/236#comment-699 Eric Thu, 05 Oct 2006 14:35:51 +0000 http://www.torgodevil.com/?p=236#comment-699 Pension Scheme? Hehe. That's funny. Sounds like something the Attorney General investigates the mob over: larceny, racketeering, pension scheme... My tax bracket will probably be in the 15% range. Hopefully my withholding is set properly and I won't owe any money. That's my biggest fear. Pension Scheme? Hehe. That’s funny. Sounds like something the Attorney General investigates the mob over: larceny, racketeering, pension scheme…

My tax bracket will probably be in the 15% range. Hopefully my withholding is set properly and I won’t owe any money. That’s my biggest fear.

]]> By: torgodevil http://blog.torgodevil.com/archives/236#comment-698 torgodevil Thu, 05 Oct 2006 13:37:50 +0000 http://www.torgodevil.com/?p=236#comment-698 Just think, I pay into the Korean National Pension Scheme (Yes, that's the name). Unless I leave the country with no plans to return, I won't get that money back unless I retire at 65 or so, but with the aging Korean generation and a declining birth rate, Korea is as bad off as the United States when it comes to retirement plans actually returning their dough. Other countries, like South Africa, don't require you to pay taxes twice. If you pay them in the place you were abroad, they don't expect to see any of it. Of course, South African's need visas to travel nearly anywhere, so they aren't always as travel and work friendly as the United States in some aspects either. Of course, the tax rate here for teachers (varies per profession), at the moment, is 3.3% Even if I pay all my Korean taxes and all my pension, I still come out way ahead than if I was a teacher in the States. Since my current salary, in raw US dollars is a joke, I expect to get most of my money back anyway. (Knock on wood). Low taxes and an extremely low cost of living is the only thing that keeps me saving money to get ahead. Just think, I pay into the Korean National Pension Scheme (Yes, that’s the name). Unless I leave the country with no plans to return, I won’t get that money back unless I retire at 65 or so, but with the aging Korean generation and a declining birth rate, Korea is as bad off as the United States when it comes to retirement plans actually returning their dough.

Other countries, like South Africa, don’t require you to pay taxes twice. If you pay them in the place you were abroad, they don’t expect to see any of it. Of course, South African’s need visas to travel nearly anywhere, so they aren’t always as travel and work friendly as the United States in some aspects either.

Of course, the tax rate here for teachers (varies per profession), at the moment, is 3.3% Even if I pay all my Korean taxes and all my pension, I still come out way ahead than if I was a teacher in the States. Since my current salary, in raw US dollars is a joke, I expect to get most of my money back anyway. (Knock on wood). Low taxes and an extremely low cost of living is the only thing that keeps me saving money to get ahead.

]]> By: Eric http://blog.torgodevil.com/archives/236#comment-697 Eric Thu, 05 Oct 2006 11:40:26 +0000 http://www.torgodevil.com/?p=236#comment-697 This is going to be the first year I'm not going to get all my money back when I file taxes. However, since I'm making substantially more money than I ever have before, that's okay. My only gripe is most likely never seeing the social security money ever again. I could be putting that into an IRA or something. Whoa. I sounded like a Republican there. Dirt not coming off! AAHHHH!! This is going to be the first year I’m not going to get all my money back when I file taxes. However, since I’m making substantially more money than I ever have before, that’s okay. My only gripe is most likely never seeing the social security money ever again. I could be putting that into an IRA or something.

Whoa. I sounded like a Republican there. Dirt not coming off! AAHHHH!!

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