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Posts: 81

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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.

8 years 43 weeks ago in  Money & Banking - China

 
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Governor

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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.....

8 years 43 weeks ago
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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.

8 years 43 weeks ago
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8 years 43 weeks ago
 
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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.

8 years 43 weeks ago
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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.

8 years 43 weeks ago
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icnif77:

 Personal issues?

If you can get Residence permit in Guernsey, it's better (lower tax) than anywhere in UK or EU.

8 years 43 weeks ago
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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 :)

8 years 43 weeks ago
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8 years 43 weeks ago
 
Posts: 400

Governor

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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.....

8 years 43 weeks ago
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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.

8 years 43 weeks ago
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8 years 43 weeks ago
 
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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.

 

 

ScotsAlan:

Erm... any suggestions on what tech start up Rob :)

8 years 43 weeks ago
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8 years 43 weeks ago
 
Posts: 1098

Shifu

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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. 

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8 years 43 weeks ago
 
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I am not going to live ling enough to retire, so it does not matter what I do.

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8 years 43 weeks ago
 
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I am not going to live ling enough to retire, so it does not matter what I do.

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8 years 43 weeks ago
 
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I am not going to live ling enough to retire, so it does not matter what I do.

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8 years 43 weeks ago
 
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Shifu

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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. 

8 years 43 weeks ago
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8 years 43 weeks ago
 
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Live fast, die young wink

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8 years 43 weeks ago
 
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Never do today that which can be put off until tomorrow.

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8 years 43 weeks ago
 
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Answer of the DayMORE >>
A:  "... through ..."?  Only "through" comes to mind is "S
A: "... through ..."?  Only "through" comes to mind is "Shenzhen agent can connect you with an employer, who's authorized to hire waigouren ... and can sponsor Z visa." It's not like every 10th person you meet in Shenzhen's hood can sponsor work visa ...  The only way to change from student to labourer visa is just a regular way by: 1. Finding an employer, who'll apply for an Invitation letter; 2. Exit China and apply for Z visa in your home country's Chinese embassy; 3. Enter China in 30-days after Z visa was stamped into your travelling instrument ...As I am aware, you won't be able to switch to Working permit by remaining in China....,so make ready for a return to your home .... -- icnif77