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  • 枫下家园 / 理财投资税务 / Could someone give advice about What I should do about 理财? -zhulx(Steven); 2001-7-26 {967} (#146010@0)
    I want to get some advice on how to manage my money.The following is my situation:
    I have lived in toronto for more than 5 months. I have some stocks in china , I have $10000 in th bank now and I have a job as developer.

    1>Some of my friends said that the price of house is much likely(over 70%) to go down later this year because of the bad economy. Do you think so?

    2>And they told me If the price go down ,next june would be a good time to buy a house. I am likely(70%) to go to Usa in 3 years.So is it wise to buy a house next year that maybe I will have to sell it in 3 years ? I want to buy a house just because I will have a baby next year ,my parents will come and the rent is too high.

    3>According to my case,How should I make my plan on managing the money in the bank and the money I will save in the next months? Should I buy mutual fund,should I just save in the bank for a fixed period or send it to china to buy stocks?

    Thanks in advance!
    • your question is too personal to answer. For me, I will buy a house within one year; i put all my money in mutual fund, and have no stocks in China or Canada -bloor(不老); 2001-7-26 (#146015@0)
      • Thanks for your attention. I know the final decision have to been made by myself. I just want to get more infomation to help myself make decision. So just tell me what you think. -zhulx(Steven); 2001-7-26 (#146052@0)
    • my personal suggestion... -guest:; 2001-7-26 {404} (#146018@0)
      1. no one can predict the market trend, so don't count on any suggestions

      2. If all you have is $10k, it's not enough to buy a house. Even you can, it will be a very old house. Further more, buy a house might cost you more than rent a two-bedroom apt.

      3. find a personal financial advisor to get some suggestions. Your management style is related to your income, your target, and your tolerance.
    • talk to a financial planner in your bank and get some sense of investment. In my mind, cash is still the best if you are not very sure about investment. -dropoutinmiami(东北的饺子); 2001-7-26 (#146036@0)
    • .I wonder if it isnot a good idea to buy a house if I want to leave for Usa in 3 years? -zhulx(Steven); 2001-7-27 {170} (#147336@0)
      Actually,I have my stocks in china ,I will sell it in the next year and I will continue to save money here.So I estimate in the next june,I will have $70k-80K in the hand
    • If I were you I won't buy the house. Also I won't invest in China stock market at this time. -guest:guest; 2001-7-27 {798} (#147361@0)
      Say the house has a value of $250k, and assume you sell it at the same value 3 years later. At interest rate of 7% the interest portion of the mortgage alone is 17,500 per year or $1,458 per month. Your can throw in more down payment to reduce interest, but you lose the investment return on the down payment, so it's the same deal. For $1,458 per month, plus the property tax and utility for the house, we are looking at $1,800/month or more, for which you can rent a very decent 2-3 bedroom condo, all utilities included. I haven't talk about the lawyers fee, sales tax, furnishing the house, cost of you time...

      First anyone abroad will gradually lose the feel of the market there, second it's a giant bubble for sure. What will happen when you play with a bubble when you got no feel?
      • Agree - You don't need buy a house absolutely, bearing that you plan to go to the states in 3 years. You will spend a lot of time and effort in buying a house and taking caring of a house. In additional, -alan01(alan01); 2001-7-28 {115} (#148438@0)
        You will pay more interests for your mortgage and pay a agent for sale of your house (about 6% of your house value)
    • Money means nothing if it is just put in bank. .... -birdincage(birdincage); 2001-7-27 {689} (#147488@0)
      So what you should ask is whether the estate price will rise within next 3 years and how much it will. If the cost of buying a house and selling it, plus the interest you would get and all other cost you can think of, is much lower than the 差价 you can earn, do it. It has nothing to do with whether you will stay in CA or not. But you'd better have enough money to pay all in once or installment within 3 years. Don't motagege(I don't know how to spell it.) Personally I think putting large percetage of your money in bank is the most stupid way. Money is used to make your life happier and make you earn more money. Of course no one can predict the market, but try to get more info.
    • 我想我可以帮你，但你提供的信息不全，不好说。 -ssli1(ben); 2001-11-7 (#252711@0)
      • What info do you need to help me ?Thanks in advance! -zhulx(Steven); 2001-11-21 (#269509@0)
        • about help -ssli1(ben); 2001-11-23 {178} (#271879@0)
          your financial goal, financial station, how do you plan your future? just like these. my email is ssli1@hotmail.com ,if you live by calgary, maybe we can get a meeting
    • the rea estate price may go down next year, as many people have predicted -banker(见面熟); 2001-11-8 {440} (#253208@0)
      but, in your case, it's not wise to buy a house. when you buy a house, you would have to pay GST, PST, land transfer tax, legal fee and etc. 3 years later when you sell it, you will have to pay your agent for up to 6% of the sale price. now if the house appreciates only 2% or 3% per year, you will end up giving your profit to the agent, what if the house depreciate?

      think before you buy, because house is really a burden sometimes.
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