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ForeignExchange
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Posts posted by ForeignExchange
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Canadian Customs officials were there to greet passengers as we boarded for the flight to Asia back in April. We were asked how much currency we were carrying and were informed that we were only allowed to carry a maximum of $10,000 Canadian dollars out of the country. They were checking some of the pasengers carry on luggage as we made our way past.
I also know that for years now, whenever a person wires money to Thailand from a bank in Canada, they also have to make a statement as to what the money will be used for. Hopefully they wouldn't stop someone who uses it for purposes of buying Thai property, marriage or retirement visa, but since I haven't wired anywhere near that amount of money, I won't know until I try.
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Are expats home biased when it comes to investing?
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JSixpack:
Thanks for the links. If this if my only choice, then I'll have to read this thoroughly to see if it can fit into my budget or not, in order to connect a laptop PC to the internet, from just about anywhere on the globe.
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>>>My new position requires me to travel throughout HK, Japan and Thailand. During these travels I will be staying in budget to mid range hotels.<<<
Hikage seems to check-in at the same type of hotels where I would stay. Some interesting things said about laptop security, but to go off topic here, how would one travel to these different countries, and say add Australia, or some country in Europe, and be able to access the internet from this type of room. Odds are there won't be wi-fi. So, for someone who only stays in each location for say two or three months, would you have to get a different internet service provider for each country? Odds are they won't sign you up since you're only short term. You don't want to use an internet cafe, but want to occasionally access your bank or stock brokerage account in the security of your budget hotel room. I don't use the phone in hotels when travelling on vacation, so don't even know if they would charge outlandish rates for even a local call? If anyone answers, please don't get too technical, but I am interested. Hope to be able to do this in retirement.
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>>>Money in the bank is a wise investment.....
But not a deposit of cash, buy shares/stock in the banks.<<<
TizMe:
Agree with you on that one. As long as the dividends are increasing faster than the Thai inflation rate.
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This chart shows the effects of inflation on selected currencies from 1980 to 1999.
http://www.sunshinecable.com/~eisehan/V80-10en.htm
>>>Money in the bank is the safest strategy<<<
For money that's not tax sheltered, and after inflation, hardly.
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>>>Please give this chap some good advice and not negative advice all the time<<<
shakeydave:
What would you like me to do, lie to him and tell him everything will be great, and his money will last at least a couple of decades or more. Sorry, no can do.
>>>so what if I only have 3,5 mill thb rather blow it in the sun, having fun<<<
samuiDarbs:
For some people "fun" equates to just lying in a hammock, strolling along the beach, and swimming in the ocean. If it's paid fun, then that will certainly affect how long your savings last. If you don't believe the figures I gave you, then figure out what you think your average weekly costs will be in Samui, and if there's such a thing in London, try and find a fee only financial planner who will charge you an hourly rate to find out how long your savings will last. That's if you want to find out.
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>>>my money wont last for ever any advice would be greatly appreciated<<<
If the author of this article gives the guy with 8 million baht savings ten years before he's broke, how long do you think before your 3 million baht runs out?
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According to the folks at WAPF, coconut oil is the best oil for cooking
I would say there's controversy with that statement to say the least.
http://www.drweil.com/u/QA/QA316479/
Seems like the only healthy choice the experts can agree on is the extra virgin olive oil, but as bangkokian suggested, not the best cooking oil.
I think, with respect to a healthy diet, "best cooking oil" needs to be further defined.
If we are talking about deep frying, then no oil is good enough, as deep fried foods are in themselves unhealthy, given the % of fat (regardless of the type of fat) retained in the portions.
For light frying e.g in a wok - which is just about the only healthy use of cooking oil - extra virgin olive oil is adequate and tasty.
For oils in salads, on breads or pizzas etc., IMHO there is absolutely no alternative to extra virgin olive oil for taste and relatively healthy eating.
(says a man who desparatly needs to loose a couple of kilos)
Does this all mean I can't buy deep fried banana from my favourite smiling vendor? How about that delicious fried roti down the other soi?
Scuse me, I have to dash off. I'm getting hungry.
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According to this site, you can add this address to your list. Free wi-fi there.
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According to the folks at WAPF, coconut oil is the best oil for cooking
I would say there's controversy with that statement to say the least.
http://www.drweil.com/u/QA/QA316479/
Seems like the only healthy choice the experts can agree on is the extra virgin olive oil, but as bangkokian suggested, not the best cooking oil.
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Recent studies in fahrangland rate olive oil and canola oil high for health. Haven't seen canola oil in Thailand though. Soya oil sounds interesting, but don't know if it's healthy or not.
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What is your favourite cooking oil to buy in Thailand and why?
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>>>EAFE (Europe, Asia, Far East)<<<
Correction: EAFE (Europe, Australasia, and Far East)
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The fact is that Thailand is still a developing country and economically a small one at that. You won't find it listed in an EAFE (Europe, Asia, Far East) index fund. It's regarded as an emerging market. The country's total market capitilization represents only 2.7% of an emerging markets index fund.
http://makeashorterlink.com/?F2271141B
>>>Those who are not aware of this should bone up before slating everything.<<<
Teach:
I certainly don't know what you do or don't know, but maybe some on this board know more than you think. One thing I am definitely not doing is telling people what to do or what not to do as regards to investing in Thailand. Just as long as they realize the risks involved in doing so, they can make up their own minds.
>>>The annualized returns are among the highest available anywhere in the world today.<<<
Oh, and by the way, past annualized returns tell you nothing about future returns, on that I can assure you. Don't believe me. Think back to the mid-nineties when investors around the world were buying emerging market funds like they were the greatest thing going. That was until 97 when the Asian crisis hit.
Where is Thailand's stock market now? Just slightly above where it peaked all these years ago.
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>>>I just checked the Thailand Weather page and the coldlest there now is 24 degrees Celcius.<<<
Yabbut that's like 2 o'clock in the morning. I was there for a couple of weeks vacation, and just left about a week ago. Everytime the 35 to 40C midafternoon heat hit, I was looking for the nearest air conditioning. I guess if my wife and I ever go over to live, it may take me a few years to acclimatise.
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SamuiDarbs:
I would be inclined to google looking for "withdrawal calculators" that may help with your descision.
An example would be below:
http://www.retireearlyhomepage.com/
As for investing in Thailand, my attitude is "never", except for money I can afford to lose. I plan to keep my money invested in my home country in a diversified, low cost, world portfolio. Meanwhile, I continue working until I have enough saved, so that if I retire permanently in Thailand, I can, and enough for backup, so that if Thailand doesn't work out, I can always go elsewhere. I'll never be rich, but then again I never, ever want to be poor.
All the best, whatever you decide.
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Vacation's coming up, so will be heading off in a jetplane in another few days, from farangland via Bangkok, to one of my favourite cheap destinations, Isaan. When it comes to retirement in the near future, it's going to be a tough choice for my wife and myself, the Northeast or the North. Love both. May end up rotating between the two areas, for a few months at a time.
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Another blog from one who likes to travel to cheap destinations around the world.
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Here's a couple who travel around the world, and average $50 U.S. a day living expenses. Another allocation goes to their airline travel expense. They retired around the age of 35, and twenty years later they're still travelling, mostly between Chiang Mai, Paris, and Buenos Airies.
By the way, before anyone pounces, their book is long out of print years ago, and I'm not a used book seller.
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I went to the URL and got as far as the list of 'affordable' places. My current passport must have 9 pages of Latin American stamps. When he wrote the following, I stopped:
"Nearly all of Central America and South America is relatively foreigner-friendly, especially if you're living on income or a pension from your home country."
Been there on a pension, done that. If you want to live in an exclusive, secure, expatriate compound and try to live like you did in your native country, you might only spend $8,000 per month instead of $10,000. Hardly what I consider affordable or cheap. I lived cheap in Mexico, Nicaragua, etc., and there wasn't much security. The natives will be friendly, but don't dare to turn your back on them.
I think the subject is way too subjective. One man's 'cheap' is US$5,000 per month; another man's version of cheap is $500.
PeaceBlondie:
That's the sort of response I was looking for. Never been to South/Central America, but people who have been, would know better than me. I thought it was a good site, with a lot of free links, but obviously, others think otherwise. I was surprised to see New Zealand, as one of the cheap places to live, but I don't know, since I only worked there for a few months in 1970, and I'm sure much has changed since then.
As for Thailand, I enjoy visiting. My wife and I may retire there in a few years, but I'm no expert on it.
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Why so few countries in Asia? Most of the countries of Southeast Asia are cheap, beautiful, and filled with good food. They just don't want you hanging around too long, that's all. It's next to impossible to buy land or a house in any of these places without a local controlling partner or through a spouse. Even then it's a royal pain. Thailand has opened up the door a crack, however, allowing foreigners to buy condos at least. But one consideration is how easy it is to get a residency permit. You can't settle down somewhere without the security of knowing you can stay. Making a border run every month or two gets pretty suspicious after a while. For whatever reason, it's generally tough throughout much of Asia unless you have a work permit from your employer.
Read, re-write, read again, then click OK to post. OK?
he's just plugging his book...against forum rules
I've never written a book in my life. I'm in Canada, he's in the U.S.
Who? .. who's in the US?
The author.
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Why so few countries in Asia? Most of the countries of Southeast Asia are cheap, beautiful, and filled with good food. They just don't want you hanging around too long, that's all. It's next to impossible to buy land or a house in any of these places without a local controlling partner or through a spouse. Even then it's a royal pain. Thailand has opened up the door a crack, however, allowing foreigners to buy condos at least. But one consideration is how easy it is to get a residency permit. You can't settle down somewhere without the security of knowing you can stay. Making a border run every month or two gets pretty suspicious after a while. For whatever reason, it's generally tough throughout much of Asia unless you have a work permit from your employer.
Read, re-write, read again, then click OK to post. OK?
he's just plugging his book...against forum rules
I've never written a book in my life. I'm in Canada, he's in the U.S.
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Why so few countries in Asia? Most of the countries of Southeast Asia are cheap, beautiful, and filled with good food. They just don't want you hanging around too long, that's all. It's next to impossible to buy land or a house in any of these places without a local controlling partner or through a spouse. Even then it's a royal pain. Thailand has opened up the door a crack, however, allowing foreigners to buy condos at least. But one consideration is how easy it is to get a residency permit. You can't settle down somewhere without the security of knowing you can stay. Making a border run every month or two gets pretty suspicious after a while. For whatever reason, it's generally tough throughout much of Asia unless you have a work permit from your employer.
Hunt For Dividends Goes East
in Jobs, Economy, Banking, Business, Investments
Posted
After years of sucking in cash, companies in Japan and the Asian economies are returning more money to investors as dividend payments.
Over the past five years Asian dividends have grown three times quicker than in the UK. Dividends in Korea are up 36% a year and in Thailand 46%. UK dividend growth is 9% a year. However, the picture varies. In Hong Kong dividends are up by only 3% a year and in China just over 11%.
http://business.timesonline.co.uk/article/...1696397,00.html