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Why Me

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    oceans rising

    in General Topics

    Posted

    Most of the Netherlands is below sea level. All of Amsterdam is 2m. below. Yet they seem to be muddling along.

     

    My strategy would be to look for a condo project in Bkk with a lot of Dutch people in it and move in there at a high floor for added safety.

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    Brokerage Firms US Expats

    in Jobs, Economy, Banking, Business, Investments

    Posted

    The OP should not worry about different addresses on the 1040, 2555 and 1099. There is no reason why a person can't have multiple residences.

     

    E.g., now that I have sold my home in the US, I write my Thai address on the 1040 and 2555 (as the place where I stay more than 330 days a year to claim FEIE). My Fidelity ac. however was opened with my brother's US address. So obviously the 1099 which the IRS sees has a US address.

     

    Another case, once way back when I was working in the US and had a home there, I spent a years sabbatical in Germany. So for that year 1040 = US address, 2555 = German address, 1099 = US.

     

    No issues in either case - in fact, I  have been filing from Thailand for 10 years. Which is as it should be because a person can perfectly reasonably have a US residence X but spend N days in the year at residence Y in another country. In fact, a brokerage ac. could be opened from a second US address so conceivably all 3 addresses 1040, 2555, 1099 could be different.

     

    What is more worrying  though are restrictions on expat brokerage acs. I do use my brother's address with Fidelity but have been totally open with them the few occasions that I have called them that I live/work in Thailand and use my Thai IP as well to buy/sell there. So far no problems at all.

     

    I have been thinking of updating to my Thai address with Fidelity. Maybe I'll call them next week and ask how that might impact my account.

     

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    Taking a Stand on Service Charges

    in General Topics

    Posted

    When I see a service charge I don't tip and figure that's a wash then. It's not an issue worth a post-dinner brawl. You don't want to leave an otherwise fine restaurant with a bad taste in your mouth (that's my pun for the day, I'm outta here).

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    MTF hormones

    in Health and Medicine

    Posted

    2 hours ago, Fuchs said:

    How easy is it to obtain MTF transsexual hormones in Thailand?

    I would guess very easy given the number of trans women to be seen here, many obviously well kept and exceedingly feminine.

     

    But I am no expert. Sheryl will probably give you an accurate answer soon.

    60 day stay SETV for US citizen at airport

    in Thai Visas, Residency, and Work Permits

    Posted

    Thanks all for the replies. I will actually be flying in from a neighboring country, not the US, where I will be only for a few days so getting a 60-day tourist visa at the Thai consulate there might not be an option. Seems then visa-exempt is the way to go.

     

    Sorry to bug you again but I want to be sure as I've never come in visa-exempt before: to be absolutely safe I need the following in hand to show the airlines at boarding and/or the IO here at the Bkk airport, correct?

    1. $700 cash

    2. proof of hotel reservation

    3. onward ticket

     

    Anything else? Nervous as I've never traveled anywhere without visa before.

     

     

    60 day stay SETV for US citizen at airport

    in Thai Visas, Residency, and Work Permits

    Posted

    3 hours ago, ubonjoe said:

    You cannot get any visa at an airport. You can only get a 30 day visa exempt entry.

    So for visa-exempt just arrive with $700 cash, proof of hotel reservations and onward ticket, did I miss anything?

     

    And an extension for another 30 days will have to be done at Chaenwattana, correct? Is this easy or will it take time there? And what do they want to see?

     

    Thanks again.

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    Upcoming interview with British Ambassador to Thailand

    in General Topics

    Posted · Edited by Why Me

    1 hour ago, Destiny1990 said:

    Why over the last 5 years has it only been made more complicated for farangs to stay here long term?

    Are they aware expats are relocating to Vietnam, Phillipines because of this?

    American here but my reading is that from Thailand's point of view expats are a decimal point in revenue benefit when compared to tourists and from the US embassies point of view we are a pain in the backside because we ask a lot of attention which again from a cost benefit point of view they would prefer to give to inter-government matters like trade deals and military exchanges.

     

    I bet it's the same with the Brits. We just don't matter much to the powers that be. But we are citizens and pay taxes so whether they like it or not they have obligations. Good luck holding your Ambassador's feet to the fire.

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    How many Expats plans are on hold due to the property slow down?

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by Why Me

    43 minutes ago, KSwr7UDHyn said:

    So, you have two year's worth of cash sitting in a money market account or CD earning next to nothing? 

     

    I think you're simply presenting another side if the same coin.  You're forgoing stock market returns as a hedge against a recession.  So, you are paying (via lost returns) for peace of mind.

    I have $40k in my CU doing nothing. And $1.4mil in the market working their butts off for my well-being. 40k is less than 3% of my capital as a hedge for the 7% annual return.

     

    Incidentally, that $1.4mil came from 250k I had saved before moving here in 2005. If I had a rush of blood say in 2007 to buy a condo for $150,000 (5 mil b. then) which I almost did I would be worth less than half I am now, not that it's a lot but at this time I can afford to buy a 10mil b. place which gives me a nice uppity buzz. But I won't:-)

     

    24 minutes ago, KSwr7UDHyn said:

    For you, the freedom to move is important.  For someone else, knowing they always have a place to live no matter what happens to their investments, might be perceived as freedom (freedom from worry). 

    Totally agree. There's a big psychological component that's not measurable. Especially handy people who can fix and build stuff thrive in their own place. Me, a leaky faucet I would have to call help.  

     

    Agent questions

    in Thai Visas, Residency, and Work Permits

    Posted

    An ex-colleague is going to be flying in from the US with a mind to converting from tourist to non-imm O based on retirement if he likes it here. He's been referred the following agents and wants to know if I have an opinion of any.

    1 TSL Assoc.

    2 Bangkok Buddy

    3 Siam Legal

     

    I don't but thought to put it out here. Might be useful for others too. If you don't like to say something openly feel free to PM.

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    How many Expats plans are on hold due to the property slow down?

    in Real Estate, Housing, House and Land Ownership

    Posted

    15 hours ago, KSwr7UDHyn said:

     

    The market grows at a 7%/annul rate, but it does not grow in a straight line.  That 7% is a historical average over many years.  

     

    It also assumes that all of your money remains invested. 

     

    So, let's say that you decide to set aside 6 million baht ($200K USD) and invest that in the market and use the proceeds to pay your rent at a rate of 4% of your principle balance. 

     

    If the market goes up 7% every year, that's wonderful.   You will surely come out ahead and have made an excellent financial decision. 

     

    But what happens if the market tanks 20% the first year and instead of pulling out capital gains you have to pull it out of principle? 

     

    Your 6 million declined in value by 1.2 million baht.  Plus you're paying 20,000 baht a month (x12 months) which is another 240,000 baht gone.  So, now you're down to $4.56 million. 

     

    Basic retirement theory says you should drop your expenses to match the new value of your portfolio value.  So, unless you're willing to give up your lease and get a place for 15,200 baht a month, you're going to have a hard time catching up to that 7% per annum rate of return because every monthly payment is eating into your principle. 

     

    Even if the market immediately bounces back 30% the next year, you're still short of 6 million (you would be at 5,928 million).  But, that's rarely how the market works.  You are far more likely to see 15% the next year, and maybe 15% the year after.  But, since you started from a deficit, you're not just taking the rent money out of your capital gains, at least for awhile, you're pulling the returns out of principle so you're going to fall behind even further. 

     

    Look up "sequence of returns" for more information on how what the market does in the first few years impacts your overall returns. 

     

     

    Again look at the data. An average recession lasts 11 months. Even the 2007-2008 Great recession lasted only 18. So, have the cash to tide over max 2 years till the markets back even and then you're riding the upswing again (and don't forget to replenish the cash bucket in the bull years). No need to drop expenses as you suggest.

     

    That's my strategy at any rate. I have cash in my credit union to see me through 2 years. People screw up when then bail out from fear at a market bottom or starting raiding their principal.

     

    Anyway, back to Thailand I can't see the advantage of owning unless you really know what you are doing like some earlier posters claim. My rent hasn't gone up in 15 years, my investments back home are fully liquid unlike a house/condo here, I have no worries about being stuck in a poorly maintained place or with lousy neighbors, if I choose I can leave and move to the other end of the country in a week, a nice freedom.

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    How many Expats plans are on hold due to the property slow down?

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by Why Me

    Renting makes a lot more sense financially here to my mind than the US.  Example: I rent a 65sq.m. 2 bed/bath apartment with a wraparound balcony on the 15th floor near Victory Monument for 20k/mth. It's an older building but well maintained.

     

    Equivalent condos in the neighborhood start at 6 mil. Now, 20k x 12 / 6 mil = 4%. So essentially I am borrowing 6 mil in the form of real estate at 4% per annum. I can and do make a lot more than that in the US stock market where I am fully invested. No, I am not some brilliant/lucky trader. The opposite in fact so I have everything in staid boring index funds. The market historically grows at an average of 7%/annum recessions included.

     

    However, the US equation for renting vs. buying is different because of home owner tax breaks and the rent to buy ratio there is closer to 10%.

     

    Sure, there's the pride of ownership which is hard to price. But hey I get my little late night kick logging into my Fidelity brokerage ac.

     

     

     

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    What is Thaivisa exactly?

    in General Topics

    Posted · Edited by Why Me

    1 hour ago, Europeanguy said:

    I still do not know who/what is behind Thaivisa and their purpose.

    It is run by the CIA and MI5 with Nato funding. This is because almost all TV members are retired Navy Seal, Royal Marine Commandos, etc. Our former employers fund TV to keep us connected in life after combat.

     

    Me for example. I  was one of the helicopter pilots who flew Seal Team 6 to take out bin Laden.  Now I teach English in Isaan for the fun of it. I have no need for the money at all. But a low profile job helps me blend in with the locals because al Qaeda has a price on my head.

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    Police shake-down. Advice?

    in Pattaya

    Posted

    To my mind you were lucky. Because you were drinking and driving which would have got you a suspended license in the west at least, if not prison time and/or community service if the alcohol level was high enough.

     

    It would have been different if you were extorted sober. But that wasn't the case.

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    Shoe/sneakers larger than US size 11 - mail order only?

    in General Topics

    Posted · Edited by Why Me

    I've bought Brooks sneakers from Supersports, Central Chidlom, a couple of times. They're decent. The first pair lasted a couple of years through frequent use and the second one I just got a month ago.

     

    The label says my size: USA 14, EUR 48.5, UK 13, 32 CM

     

    For regular shoes, like others above say, Ecco has large sizes. Go to their shop in Central World.

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