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HK-Specific Personal Finance Readings for Newbies?

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  1. #1

    HK-Specific Personal Finance Readings for Newbies?

    I will move from the US to HK this fall. I'll start my first full-time job out of school here and am hoping to learn more about how to manage money. I've been reading some personal finance 101 articles written by American bloggers but couldn't find anything similar about HK. While this forum contains a wealth of good information, a lot of times I do not have the background knowledge to understand the posts. Can someone please recommend some good readings? Thanks!


  2. #2

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    Look up Andrew Hallam - and get armed with what he has to say about "expat financial advisors".

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  3. #3

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    Quote Originally Posted by shri:
    Look up Andrew Hallam - and get armed with what he has to say about "expat financial advisors".
    Second that. Get his recent book. Its a good starting point.

    Avoid anyone selling you insurance linked savings products.
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    If you're a US citizen you likely wont have access to HK financial products beyond simple time deposits because of the tax reporting requirements.

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    Quote Originally Posted by tf19:
    If you're a US citizen you likely wont have access to HK financial products beyond simple time deposits because of the tax reporting requirements.
    OP could open an account with a US brokerage in US.

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    Quote Originally Posted by Morrison:
    Epic thread, and well worth a read.
    VeronicaInHK likes this.

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    Quote Originally Posted by Morrison:
    OP could open an account with a US brokerage in US.
    I think Interactive Brokers would take on the OP, subject to KYC checks.

  9. #9
    Quote Originally Posted by pin:
    Second that. Get his recent book. Its a good starting point.

    Avoid anyone selling you insurance linked savings products.
    Thanks! Are you referring to Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School? Does the book explain why savings insurance is not a sound investment option? According to my limited research, that seems to be a very popular means of investment in HK. I also noted that the MPF in HK is nowhere equivalent to 401K in the US. Isn't savings insurance similar to retirement savings?

  10. #10
    Quote Originally Posted by tf19:
    If you're a US citizen you likely wont have access to HK financial products beyond simple time deposits because of the tax reporting requirements.
    Well, I didn't know this before. Does this post explain why the honor to pay tax to Uncle Sam prevents us from investing in HK financial products?
    https://geoexpat.com/forum/155/thread203889.html

    Quote Originally Posted by Morrison:
    OP could open an account with a US brokerage in US.
    I honestly don't know what a brokerage account is lol Something like Vanguard? I'll look into it.

    Quote Originally Posted by pin:
    I think Interactive Brokers would take on the OP, subject to KYC checks.
    Thanks!

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