hwas

1 hour ago, Presnock said:

They will give you a list of organizations that you can choose to join - I joined American Citizens Abroad - once you join that or one the multitude of organizations, the bank will give you an account with no problem at all that I recall  They were very helpful and unstood my problem with BOA cancelling my account of 50 years since I live overseas.  They give one a choice of cards with different benefits and they alert you if there is strange acty on the card.  Once, after using the card for a flight, I was hacked but the bank pended payment  so they didn't lose any money but they cancelled the card.  I recieved the replacement a tad slow but they provided why that occurred.  Anyway I have nothing but positive things to say about the service provided by this bank since opening the acct there.  That is why when I see someone write that the same situation  has happened, I recommend them easily and confidently too.  Good luck

Thank you.  This looks quite good

On 5/11/2024 at 1:05 PM, Presnock said:

On 5/11/2024 at 9:41 AM, NanLaew said:

 

The State Department Credit Federal Credit (sdfcu.org) will open accounts for Americans living overseas

I am going to open an account in order to get another US credit card.  If you got a credit card, were there any problems in obtaining it?

1 hour ago, Bangkok Barry said:

 

I suppose you didn't get as far as this which I wrote:
I'm certain I am not the only one who could be embarrassed, and it could be especially damaging if someone was hosting business colleagues.

 

A problem with a credit card can happen at any time, often because there is an IT/communication error in the system somewhere. I for one have read or seen this numerous times. And then what happens? But you, as you can't see further than your nose and anticipate potential problems, call me out for being ignorant. Take a look in the mirror instead. The ignorant one is you, and not receiving an answer to a legitimate question is arrogance by the management. Or indifference. Thinking ahead and anticipating problems isn't the Thai way. Nor yours, it seems.

 

Tell me. what would you do if you were in a no cash establishment and, for whatever reason, your card was refused? Hmm? Please let me know, as I'm curious.

 

I'd guess the place in question hadn't thought things through either, just like you. I also mentioned to the person I spoke with that their email contact system didn't work, and their website shows the wrong opening time. None of this is what I would expect in a high-end bar/restaurant.

First of all, if your card does not work, the fault is on you, not the restaurant. If you are so concerned, why not try the card somewhere else. Anyone with a gram of common sense would know that the restaurant policy is not cast in stone and as one alternative they would change their policy to accept cash.  Get over yourself

11 hours ago, Bangkok Barry said:

A new rooftop bar opened in Bangkok last month, 61 floors up in Bangkok's tallest office building. Of course, I can't name it because I could end up in a cell. I saw a YouTube video of the place and it looks great, Thai-themed. I thought I might visit when I'm in Bangkok next week, but they do not accept cash. Cash has worked all over the world for hundreds of years, but progress means it is no longer good enough in an increasing number of places.

 

So I was curious what would happen if a foreign credit card (mine) was refused (as I haven't used it except for on-line bookings since it was renewed). I'm certain I am not the only one who could be embarrassed, and it could be especially damaging if someone was hosting business colleagues.

 

I wrote to the contact address on their website and it was returned as not found. That website also shows the place open from 6AM to 2am. On the second time of calling them they answered the phone and couldn't answer my question. They said they would ask the manager and call me back. They didn't. This classes itself as a top-class, five-star business, and they have absolutely no clue how to respond to customers. Or are too arrogant to care.

 

Another time, I went for lunch with my wife and her brother. He and I both ordered the same dish. One arrived. I let him go first, and he finished his before mine arrived. When my wife asked why they had been delivered so far apart the waitress burst into tears like a five-year-old. There have been many other instances, such as my ordering roast chicken and it was delivered stone-cold, straight out of the fridge. In this case, it was a western-run pub - Scruffy Murphy's - and the farang manager replaced it, didn't charge for it and gave my sister and I a free Irish coffee. In a Thai-run place I'd have probably got a shrug of the shoulders and maybe a 'sorry, sir'.

You “thought about visiting”, called the bar with a hypothetical question and noone bothered to answer you, so you concluded that they are ignorant or arrogant.  How about the option that they do not have the time to answer nonsensical questions?  

11 hours ago, Middle Aged Grouch said:

At the end of the day, why do we continue to stay in such a country that is so hostile towards foreigners ? When it's not for grabbing extra tax, it's the hassles on immigration, 90 day reporting or annual LTR reporting, visa issues with absurd and invented requests for documents or requirements that are unknown abroad. This is perhaps why Thailand remains still and undevelopped country. Oh of course, you no like-you-leave-it bla bla...sure, yes...already heard that.

I am curious, if Thailand is an undeveloped country that treats you so bad, then why haven’t you followed previous suggestions to leave if you do not like it?

1 hour ago, FruitPudding said:

 

Pull yourself out your own backside. 

Pull yourself off the barstool

I 

3 hours ago, Mike Lister said:

Why is a larger number of funds a bad thing?

Advantages of the three-fund index portfolio

• Diversification. Over 10,000 world-wide securities.
• Contains every style and cap-size.
• Very low cost.
• Very tax-efficient.
• No manager risk.
• No style drift.
• No overlap.
• Low turnover.
• Avoids "front running."
• Easy to rebalance.
• Never under-performs the market (less worry).
• Mathematically certain to out-perform most investors.
• Simplicity

i would think that rebalancing would also be  more difficult with that many funds, depending on how strict you would be in maintaining the balance you desire.

However, as I said in my earlier post, I do not practice what I preach, but have been reducing the number of investments 

3 hours ago, Mike Lister said:

The problem with using any index or global tracker is that the US market is at least 50% of any global index and tech occupies the lions share. Before, some other parts of the index would support any fall by one single part, but now, if tech falls, the entire index or tracker falls. That's the quandry.

i took a look at your own holdings and according to most investing theories that I follow (but unfortunately do not practice), you have way too many holdings.  Their recommendation both for your own investments and the inheritance would be a portfolio holding 3-4 etf’s - US index, global exUS, fixed income.  My portfolio is 25% fixed income, 25% sector (AI, tech, financial,etc) etfs and 50% stocks.  If you have not done so, take a look at the Bogleheads website (believers in Warren Bogle, founder of Vanguard).  Some excellent advise and savvy investors will give you answers.  Also, Warren Buffet is a strong advocate of buy and hold etfs.  

38 minutes ago, georgegeorgia said:

So I must stick to middle & upper class thais?😯

My point being that I worked with Thais for many years in an international company.  Spent countless hours in meetings and eating out with Thais.  Since you did not answer my question, I assume that you cannot speak Thai.  Further, your interactions with Thais are limited to bar girls, motorbike taxis, store clerks, etc, very few of whom have the ability or interest in communicating with you.  Tell us why you do not move to Malaysia - my bet is that you do not have the financial means to qualify

Relentlessly bad mouthing Thailand and yet, you are all still here

Those who are complaining about a 30 baht increase obviously do not have the financial means to travel by air anyway.  Time would be better spent complaining about the price of Chiang beer.  

And the gross air quality is not a factor?

Slovak Paradise! Do the hike with the ladders. Incredible. This trip up the mountain is great. But book early!
 

Thank you.  Looking into it

1 hour ago, Presnock said:

I do have the wealthy pensioner LTR - just changed from Retirement O (18 years) - my pension is a US govt pension I know that I have 2 possible reasons for non-assessable income but TIT.  If they do in any way tax my govt pension I will leave even though I love it here.

I have several friends in the exact same position as you.  Retired here after being posted to the embassy.  None of them have any concerns about this.  

2 hours ago, Presnock said:

Not all income is exempt on the LTR.  If money is earned in Thailand and is assessable the a tax could be levied.  Only foreign earned income can be non-taxed for wealthy pensioner that I read about for my income so if they change that provision of the LTR and still insist on taxing my already taxed government pension then I will be gone but in my opinion this would be a futile income garnering by the Thais that would resonate deeply in the future of foreign settlers.

My suggestion is that you ignore the speculative comments regarding the LTR.  The official word from BOI is that remittances to Thailand are not taxable.  Why pay any attention to comments made regarding the LTR by people who do not even hold the LTR?  

By email.  I also received the following by email

12 hours ago, JohnnyBD said:

I just received the following email regarding monies remitted to Thailand for LTR visa holders. It will definitely factor into my decision on whether to buy a LTR visa or just stay in my home country for 7 months next year when I need to remit big monies for a new condo and to replenish my THB accounts.

 

Dear Sir,

 

LTR Visa holders are tax exempt from income remitted into Thailand as long it wasn't earned in the same year. For example, any earnings before 2024 (savings) remitted into Thailand in 2024 will not be subjected to income tax.

 

Pension and dividends earned in 2024 and remitted in the same year would be subjected to income tax. We advise our clients to wait until the following tax year (calendar year in Thailand) to remit this income. Most people who hold the LTR will not have to pay tax as their savings are much more significant than their annual earnings.

 

You would meet all the requirements as a "Wealthy Pensioner" based on the information you provided. The success of your application will be dependent on the supporting evidence you are able to provide.

 

If you have any questions or would like to retain our services, please do not hesitate to contact us.

 

Sincerely,

Xxxx Xxxxx International * I blocked Company name to be polite

 

I received a follow up telephone call from BOI. I asked the specific question regarding transferring money earned from prior employment outside of Thailand and received the response that it would not be exempt

3 hours ago, K2938 said:

Thank you for posting this.  So if I read this correctly, this would unfortunately mean that the tax exemption under the LTR visa - if even this is maintained - is really of the minimal possible amount as it ONLY covers income earned while holding the LTR visa.  So if you now get a LTR visa and then transfer let's say 250k USD from your foreign savings to Thailand to buy some real estate or fund your general living expenses, then this will NOT be exempted as these 250k USD are NOT income only received AFTER holding a LTR visa.

I received a follow up telephone call from BOI. I asked the specific question regarding transferring money earned from prior employment outside of Thailand and received the response that it would not be exempt

Received this from BOI today, tax exempt only for prior year: