Savings Potential Plus Good Education For Own Kids

[gibwise]

@Nomad

I lived in Bangladesh for four years and while it is in some ways a hardship posting in others it doesn't come close to what you have to deal with in different hardship postings. I didn't once feel unsafe in Dhaka except for when I tried to ride a bike in rush hour traffic. Certainly I felt more safe than I have in American and British cities at times. $35000 a year after tax and accommodation (a typical salary in BD) is probably along the lines of what you will end up with working in most European schools anyway.

From the sounds of things you may have to compromise on something- pay, location or quality of living or you will restrict yourself to a very small number of schools, which may or may not want to hire you.

[nalfc]

Half way up the pay scale, seriously stop telling people untruths. If I didn't have housing allowance I would have to pay out of my wages, likewise flights home and health insurance so yes it does count, it means that 50k plus is pocket money. Next year I have nearly a 10k payrise due to promotion and going up a point on the pay scale along with an inflationary rise plus 200 dollar extra housing allowance a month. SE Asia excluding Singapore and Honk Kong have some amazing schools with great benefits and saving potential. I will be looking to save 25k without even trying as I get a large percentage of my pay in dollars and I don't touch them just send it home to pay debt plus an end of year bonus on top, it's sweet in vietnam please ignore people who don't have a clue and give terrible advice in respect to the region.

[zanyplum]

Here is some information that you may find useful:

Social Security Programs Throughout the World: Europe, 2014

http://www.ssa.gov/policy/docs/progdesc ... index.html

[PsyGuy]

@gibwise

The LW wants to be in WE for whatever reason its not just an issue of any school that will pay $35K salary. They are trying to make a retirement run.

@nalfc

Theres nothing untrue about it. Please read more critically my previous post. $50K salary is $50K, the allowances dont add to that they just free up that $50K to do more with. Its not pocket money you still have other expenses (such as food/board) that have to be paid out of that. In addition the LW has kids and trailing spouse your not going to keep them happy just on rent, groceries and utilities.

At the age of 50 you have to bank $50K/year in coin to make a retirement run in WE, otherwise your efforts are better spent relocating to WE.

[nalfc]

Iwas responding to you telling people that at best they will get 36k,it is simply incorrect.

[Nomad68]

THANKS FOR ALL THE REPLIES - lots to think about and mull over!

[litesport]

Have a look at this article, might be of interest; http://assetbuilder.com/andrew_hallam/t ... ols_abroad

I would also read Andrew Hallams website regarding investments. Makes for very interesting reading.

[vincentchase]

When looking into retirement, remember the 4% rule. Once you have 25 times your annual expenses, you can theoretically retire forever. Saving half your income will get you to retirement after 15 or so years. I started a bit late, but will have the option of retiring by 40. I also support a family and have only worked in tier 2 or 3 schools.

http://www.mrmoneymustache.com/

[newboygirl]

If you are looking for savings potential beware of international school of Dhaka in Bangladesh. They force you to sign up with Alexander Beard group. It is in the contract you sign with them. It is a complete and total scam. It is one fo the companies Andrew Hallam discusses in his latest book. It is not an investment is it a gravy train for ABG. Avoid working for any schools that force you into putting YOUR money into a supposed retirement account that costs you over 6% a year and then add in inflation and you are looking at losing 9% of your money a year. Not worth it. Unless you are very desperate for a job I would not go work for any international school that forces me to invest my money in something that I do not believe in and I know is costing me more than I am making. Always ask before signing about who and where your retirement money is being put and what expenses you will incur and what kinds of penalties and fees are associated with that account.