Search found 15 matches

by sjoung
Tue Mar 21, 2017 3:38 am
Forum: Personal Finance (Not Investing)
Topic: My son wants to move to Hong Kong
Replies: 35
Views: 5122

Re: My son wants to move to Hong Kong

So, I need some legal advice and I hope that someone here can offer it or point me in the right direction. My 27 yr old son is currently living at home and working full time at a low paying job. We live in the U.S. My son has fallen in love with a young women from Hong Kong who is a foreign student...
by sjoung
Tue Mar 21, 2017 3:12 am
Forum: Personal Consumer Issues
Topic: Short visit to Hong Kong - "must do/see"?
Replies: 16
Views: 1449

Re: Short visit to Hong Kong - "must do/see"?

I've been to HK couple of times. These are the thing I enjoyed and stood out. Victoria Peak (Everybody does it. Do it early in the morning to avoid massive crowd) Hong Kong History Museum (Low cost. Many thing to see and learn about HK) Ladies Market (My wife really liked the cheap shopping) Harbor ...
by sjoung
Mon Mar 20, 2017 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

Seems reasonable. If you really know the present situation in the Seattle area well. Things may have changed a lot if you haven't kept current -- then be patient as you re-learn enough not to make big mistakes. Not clear if you intend to live and work and start a business in Seattle or just nearby....
by sjoung
Mon Mar 20, 2017 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

Sjoung I think your revised plan to rent a year or two is a good idea. With your wife as a restaurateur, do you need two cars right away? Again, I am trying to get you to slow down. When I moved to a new area after not owning cars for a while, we owned one car and my wife dropped me off at a train ...
by sjoung
Fri Mar 17, 2017 3:31 am
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

After not living in the U.S. for a decade, I think you should rent for a year and then make a call on housing. The cars seem a bit expensive for your income but you have the cash. Do not blow all your hard work by spending so much your first year back....slow down. Just curious, did you and/or your...
by sjoung
Thu Mar 16, 2017 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

Thank you and I have a question regarding the house purchase. The reasons I came up with 650K in cash is that we really don't want to have a mortgage and we figure we can save on the interest to help fund our retirement. I don't know if you are familiar with Seattle area but we are looking for a ho...
by sjoung
Thu Mar 16, 2017 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

Borrow! Invest! You can still get 4% 30 year mortgages, but not for long. You can still get 2% auto loans. Take advantage of the low interest rates and keep liquid. Maybe invest half and keep the other half if things turn south, especially if you're interested in pursuing restaurant business. I'd r...
by sjoung
Thu Mar 16, 2017 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

Ok, with the new information I'd recommend: 1. Get a new job 2. Move back to Seattle into a rental for one year, buy affordable cars, get settled in. After living abroad for ten years there will probably be some reentry culture shock, and the Seattle you come home to may be quite different from the...
by sjoung
Thu Mar 16, 2017 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

Much number crunching to do. Think of the property taxes and insurance on that house and those cars. $75k income will not go far. Skip the restaurant idea. You need more certain income. The restaurant may lose money or barely break even if lucky. With 75k in income, both your cars should total less...
by sjoung
Thu Mar 16, 2017 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

Why do you need a $45K car? She can have a brand new car for $20K and you can more than fund a 401K with the difference. The federal government is on a hiring freeze right now so your job prospects may be more limited if you're primarily looking for government work. You probably did work hard to ac...
by sjoung
Thu Mar 16, 2017 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

Do you have any retirement savings outside of the 250k in Roths? My immediate thought is this is no where near enough income to a) Live IN Seattle and b) retire at a decent age c) survive on your expected income without totally depleting the 850k. You have to decide what is important--for me it wou...
by sjoung
Thu Mar 16, 2017 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

Are you familiar with the Seattle area already? Do you plan to stay there long-term (at least 7-10 years) or are you just moving there for the job, and you may or may not stay there long-term? Generally if you are moving to a new area for a new job, I think it's best to rent for at least one year t...
by sjoung
Thu Mar 16, 2017 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

What experience does your wife have with running a restaurant? I have friends who manage or own restaurants with liquor licenses and they all tell me that the food side of things is a money loser. All of their profit comes from the bar. They also say that working 100 hour weeks is no fun. Also, 90%...
by sjoung
Thu Mar 16, 2017 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

Re: How should I divide my finances and any suggestions?

[quote="dbr"]My first reaction without a lot of analysis is that you don't have enough expected income to be putting all your assets into a house and a business that should on the face be thought of as a dead loss until it somehow isn't. You have no business taking out a business loan, it ...
by sjoung
Thu Mar 16, 2017 12:55 am
Forum: Personal Finance (Not Investing)
Topic: How should I divide my finances and any suggestions?
Replies: 31
Views: 2383

How should I divide my finances and any suggestions?

Thank you all for reading this and any suggestions are appreciated. My family and I will be finally moving back to Seattle, USA this year as I've been working overseas for 10 years for a foreign employer and saved enough money (I think) to have a new start. Here is my situation and our goals and any...