london

A general comment such as "Thai Property assets becoming unsaleable" is in itself illogical. Anything is saleable.....at a price.

Is it?

Take a GM car for example. After GM has failed, the second hand car becomes unseleable scrap.

Or, imagine a 12mil Thong Lor apartment (that's your LOCATION) reduced to 8 million baht. Assuming agents accept such a drag in price that will enrage every owner in the building, the "anything is saleable" will still sit for decades on market.

As for renting the place: individuals would go up to 30-40K baht out of their own pocket. When companies pay rent for their staff, it's 100K +.

The place in the example would be in 60-80K rental range.

So, our already unsaleable place becomes now unrentable too.

One would be lucky to walk away without continuing to pay levies on it.

A lot of "IFs" here....but, let take them one by one:

IF GM fails, there cars will still be saleable...in fact, many may become COLLECTABLE as others have from other failed car manufacturers over the years.

But if you are saying that a 2 y/o Pontiac or a 3 y/o Caddi will be FREE...dream on !!

Your second theory: "a 12mil Thong Lor apartment (that's your LOCATION) reduced to 8 million baht"...is flawed:

At 8 million it is still saleable !!! (at 10 baht it is still saleable)

I think that we need to agree on the term UNSALEABLE...It means that something CANNOT BE SOLD AT ANY PRICE !!

...there are posts saying [Thai assets] are on the verge of collapse or that no-one will want them in the future.

As a person ...holding a number of properties here in Thailand...and holding equities in the SET, I must say that I do not see things as being as bad as others may.

I guess that 50% drop in the SET in the past year was all in our imagination, and doesn't qualify as a "crash" in price

I said "I do not see things as being as bad as others may".

I mentioned nothing about the SET apart from the fact that I hold equity positions in a number of stocks. I did NOT say anything about a "crash" in prices...(look at other bourses around the globe and they are not that dissimilar)....so I fail to see what relevance that has to what I wrote.

If you are going to comment....at least read what has been said.

It seems that time after time on TV, there are posts saying that Thai property, business, products, currency or the country are on the verge of collapse or that no-one will want them in the future.

As a person with a biased view, holding a number of properties here in Thailand...and holding equities in the SET, I must say that I do not see things as being as bad as others may.

A general comment such as "Thai Property assets becoming unsaleable" is in itself illogical. Anything is saleable.....at a price.

Sure, there is no doubt in my mind that there are property assets in Thailand (and for that matter in ALL countries) that depending on their LOCATION are going to be more difficult to sell than perhaps they were 6 months ago, but that is vastly different from saying that something is "unsaleable".

Frankly, there are condominium projects in Bangkok or Pattaya that stagger me that they were built (or are being built). They are in locations with absolutely no upside. Yet, there are buyers for them...at a price.

As has been noted on many posts in the past, Thai's tend not to sell any property at a loss. They are happy to hold on for better times.

There are 2 major issues in Thailand that do concern me at present and that, in my opinion, will affect this country unless action is taken VERY quickly:

1) the demonstrations and closure of the main airports and

2) the high value of the Thai baht.

Neither will make any Thai asset unsaleable...but they will make investing in Thailand AT PRESENT the cause for some concern.

6% GUARANTEED return and in a US annuity?

Mmmmm, be careful. Be VERY careful.

Or should I say "Good Luck!"

Hi There,

Is there a way in Thailand to make business contacts effectivly? I'm sure they exist, but I havnt had the luck of finding any... business clubs etc where people can meet potential investors and business partners? Any websites around?

Thanks

M

Its difficult to get the "right" contacts. Easy to get those who'll happily take your money, or time wasters.

The only ones that count IMO are Thai contacts, and they, depending on their status and position in the country, can basically open (or close) any door.

It takes time and you have to be lucky enough to break in to the right network.

Sorry, but I don't think there's a quick or easy way to do it.

I may be very wrong to do so -- I really know very little about money matters -- but I'd probably trust HSBC over an Australian bank.

You raise a good point though -- security.

Perhaps it's more important now to make sure all one's eggs are not in the same basket ?

FYI: Australia has 4 of the 14 AA rated banks worldwide. Highest proportion of any country.

So your concerns really are unfounded.

Go for it ! (But with your eyes open and information that will allow you to move forward.)

Good luck !!

Firstly, the UK is going to get a lot worse (economically) before it gets better. The cost of living in the UK is VASTLY higher than in Thailand.

As I see it, the economy in Thailand is struggling. It certainly isn't a boom situation, but it isn't a bust either.

As you are in Australia, the $AU exchange rate to the baht is prohibitive at present. This will no doubt change, but the question is "when"?

Having a Thai wife is a benefit (if you are holding a Thai Spouse Visa) for Thailand, but you would need far more well thought out plans than you seem to have at present. (Not a criticism, an observation).

Re doing a Uni course in Thailand...well, there would be others on this site who would offer more constructive advice than me, but frankly, I wouldn't. They are not recognised internationally and added to that, your Thai language skills would have to be at a very proficient level.

At present, in your situation, I would plan on staying in Oz and perhaps take an exploratory trip up here.

Good luck.

Damoninparadise:

oh, there are so many factors to consider.....and really, you do need some professional advice ..but professional advice from someone with actual experience of living in Thailand.

My opinion as to costs etc is slightly gloomier for you than many of the previous posts.

Firstly, where in Thailand have you been? Obviously Bangkok, but are there other areas that you have been to and felt that you'd actually like to live there PERMANENTLY?

This is the first thing you should consider.

Its all well and good to have gone on a holiday in Phuket, or Pattaya and then fallen in love with the "idea" of living there (and I am NOT saying that you have necessarily done this) and then thought, "yes, I can live here". This is going to be a very serious move for you and there are so many aspects to consider.

I would do another investigative trip to Thailand and just see where suits you and also where is the most practical for you to live....remembering you current lifestyle, and also your interests and longer term goals.

Contrary to many in TV, I would NOT rent in the longer term. If you do, you will lose your funds through inflation in rising rentals. I would, after doing your research, look at buying a unit that you feel you can comfortably live in....in an area that you feel comfortable with (and are happy to walk around) and with the facilities that you need.

In BKK, this may cost you 3 million baht..or it could cost you 1 million or 20 million. In other areas, again, the prices are that broad. In Phuket, well, you could pay much, much more.

Then consider what you are going to do with your day....whilst at the same time conserving or trying to grow your cash reserves. A week lying on a beach is pleasant.....a month becomes tedious...and 6 months becomes a sentence. You will need to keep your mind and body active other wise you will go troppo.

Consider all the costings given by posters earlier. These are a helpful guide. Add at least 30% to them and then you will have a fall back position.

Consider too taking out health insurance that either covers you in Thailand or is taken out in Thailand that will allow you to go to the best hospitals if (hopefully not) necessary.

Consider the cost of having a live-in carer further down the track. This is not just because you have MS....but for anyone who is looking at spending the rest of their lives in any part of Asia. I have seen too many elderly foreigners who live as paupers and uncomfortably due to lack of planning and resources. Believe me, you won't be popular with locals if you cannot adequately support yourself.

Food, entertainment, clothing, hobbies etc, as I said, are all pretty well covered in earlier posts.

Also, as an aside, look too at Malaysia. The Malaysian Governement is actively seeking foreigners to live there through their "Second Home" project. They too have very fine medical facilities and the cost of living is comparative. KL offers the additional benefit of being a short drive from some of the most wonderful forests in Asia.

Personally, although it may not sound like it, I would encourage you to make the move...for many more reasons that time now doesn't permit me to go into. But PLEASE, do your homework by actually coming here and taking the time to look around with your future in mind.

Good luck !!

Oh, in case you are wondering: I live for part of the year in Thailand (BKK), also in KL, NYC, London and Melbourne Australia. Yes, thats how I have structured my life.

Thanks for all the info VegasVic.

Appreciated.

Cramer is notoriously unreliable.

Here's another Jim Cramer: The Flip-Flop.

I didn't watch the entire video because this guy is making me crazy/dizzy and upset.

In Europe I don't know of any program or guy that is so absurd as this Jim Cramer and I really don't understand why America accepts people like him LURING people to invest..OR NOT.

If it is so bad as Vegasvic describes, and I have no reason NOT to believe him, the man should be put behind bars. If there is proof that he is deliberately 'steering' the markets it should be easy.

Does anyone agree with me or am I going too far ?

LaoPo

Cramer is self-serving, greedy and derives pleasure in manipulating those who take notice of his rantings.

The guy ALWAYS gets over-hyped about something and, like you LaoPo, I HAVE to turn him off....on those rare occasions that his image appears by accident as I channel surf.

These guys always get what they deserve in the end. He has zero cred...and he certainly has the same level of integrity. Whether jail is the answer, or just public humiliation....perhaos the latter would be more appropriate as the ego would then have to deflate.

Even though Cramer used to be a stock broker he is now in the entertainment business. He makes his money by selling books, selling subscriptions to his blog and getting people to watch his television program thus generating advertising money. If he didn't say controversial things and act eccentric at times he would be just another boring pundit. Statements like the one above are meant to grab your attention in hopes of selling more books and getting more viewers. While a crash is certainly not impossible, I think it would be more prudent to get the opinions of several other respected experts in the financial field before selling off all your stocks the next time a small rally occurs.

Yes, Cramer is, some would suggest, an entertainer. Certainly he goes hot and cold quicker than a tap.

This present situation, in comparison to 1987 is not a crash...but it is a solid correction....and IF you have faith in the system, a great opportunity to be buying in.

I haven't been (nor will I be) selling. But I should say that I AM buying. Time will tell if this is a good move.

Cramer is notoriously unreliable.

The ONLY thing that is reliable about him is his UNreliability!

Jim Cramer from CNBC"S Mad Money had this to say in part from an article from the CNBC website.

As usual, these "pundits" are good at examining the present and the past, but don't have a good track record predicting the future.

That said, Yes, they DJIA could go to 8,000. If it does, this will be a buying opportunity for me.

Exactly.

None of them know any more than you or I....if they did, why didn't they predict this 2 years out?

Same as you: its a buying opportunity anyway...whether it hits 8000 or whether it consolidates at these levels.

Retirement in the west will be a problem for some, but not for all.

There has been compulsory superannuation in a number of countries and many employees are offered "in house" superannuation by their employers.

So, for those without..or even minor amounts in Superannuation, the governments are expected to step in and give them a pension. This is the major issue.

Certainly for some, home owning retirees, they can get around this shortfall by being offered "reverse" mortgages ...basically leaving nothing for their children....which may or may not be a good thing whilst ensuring the banks get wealthier. However, what it basically means is that after a lifetime of paying off a mortgage, the bank ends up with the home in the end!

mmmm, not a good situation!

Then you have the predominantly Asian nations who are aware of this coming problem and have set up sovereign wealth funds. Some highly capitalised despite the current economic situation.

Anyway, getting back to the original OP in regard to the west:

Some potential retirees just won't be able to retire and will have to work basically until they drop.

Others will not want to stop working. I will probably fall into this category.

Others will fall by the wayside either through illness or incapacity and depending on where they live, will either be able to get a pension from their government, whilst others in other countries, will not. These are a cause of concern.

The fact is that we are an adaptable species. What is set in stone today is not necessarily set in stone tomorrow. There are opportunities for people even in their 60's to set aside funds for their retirement. A little is better than nothing.

Personally, i feel that the vast majority will be able to live if not in the lifestyle that they would have envisaged, at least in some comfort and security in their old age. At least this is what I hope.

Well, showing my hand: I have been invested in the SET (and other markets) for many years.

At the present, even though I don't look at the SET weekly, let alone daily, I am still investing once a month into it. Frankly, if I can buy companies that I believe are good cash generators, with good management, at prices that I was buying them at 4 or more years ago, well, I am happy.

If the SET goes up 20% tomorrow, I'm not fazed. If it goes down 20% tomorrow....I'm not fazed. I don't need the money now or in the foreseeable future so its simply diversification of assets...and that, IMHO is never a bad thing.

Who knows what tomorrow (or next year) may bring?

aah..it helps that when one isn't that wealthy that these problems and predictions are of interest but not worrying.

Thankfully, I fall into this category.

G54. great post, and IMO, quite accurate.

For the OP, IF you are REALLY looking for a Farang jai dee, the simple trick is just go to places where YOU like to go to. Do things that YOU would normally do. If you find a farang in those places it is likely that you have shared interests, and already you have a bond.

If you go to bars etc where farang meet/go, well, most farang will not be able to differentiate between you and the other Thai ladies there....and that may be your problem.

If you are looking for TRUE love, you can't rush it and you can't order it.....it just comes when it comes. It could even come today !

Chock dee!

Deadman, be careful ..... be VERY careful.

For most of us, we spend less time preparing or thinking about a Will than the weekly shopping. Big mistake.

Firstly, remember that a Will is a binding document, that control's ALL your assets and their disposal, that, depending on the laws at the time of death, can be contested. It is just too important IMO to either do it yourself or have a pro-forma Will.

If you have assets of 1 million baht, then sure, perhaps you could do it yourself or have a pro forma. However, if you have assets that are considerable, the issue of spending 5,000 baht or 30,000 baht is inconsequential considering the loss or the non adherence to YOUR wishes of administering and dispersing your estate.

That said, what happens if you become ill or unable to handle your day to day living? This could happen if you are 25, 30, 40, 50 ...any age through an accident, health issue, whatever.

If you HAVEN'T thought about this, then, consider a binding Power of Attorney....again done professionally.

This is NOT a simple issue of saving a few thousand baht on preparing a Will document...but it is LEGALLY setting up what YOU want to happen to EVERYTHING YOU have worked and struggled for during your life.

The decision, obviously, is yours!

some Aussie dollars in the bank, managed funds, some baht (I'm not planning on leaving LOS in the near future), and some gold because Mrs Xangsamhua really likes it. I thought of buying some more Aussie dollars, SIN$ and/or Euros and may do so soon, probably the former and reduce my baht balances. We're not talking about big money here, but don't want to waste it. Someone suggested that Thai gold is hard to sell outside Thailand. We might take a bit with us next time we go to Oz and see what the Vietnamese gold shops offer us.

Cheers

Xangsamhua

Hi Xangsamhua,

thanks for your post.

At present, the Baht is high against many currencies and it may be an opportune time to consider diversifying. Whether I would actually BUY $AU, $SIN and or Euro's as such, well, I probably wouldn't as I prefer to hold actual assets rather than currency. That said, possibly balancing out of your Baht holdings into foreign currency accounts may be a good idea. Certainly, as I see it, the interest rates offered in Australia are quite high, but will most likely fall by 1% or so over the next 12 months...but the currency hit the at $AU has taken seems overdone, so in fact you may make something on the currency without even worrying about the interest rate. Who knows ?

Re Thai Gold: I can vouch for the suggestion that it can sometimes be hard to sell out of Thailand. But what I have found is to say to the purchaser: "test it"..which they have then done and their attitude changes to one of acceptance and they are then quite happy to buy it.

Good luck!

Regards

London

Alright, since you guys need some basic info to get started on the suggestion. Here goes.

Age:23

Work experience: 2 years IT stuff

Education level: Bachelors in IT

Amount of money needed per week: I can live very minimally, general rule of thumb = a local's spendings + 30-40% extra (for a nice room).

Level of health: Pretty fit, I do alot of walking and don't smoke.

Interest: Reading (mostly Asian authors), playing online poker occasionally, traveling however not tourist style traveling but rather living in a place medium to long term and understand the way of living there. Also, listening to Bill Evans and Chopin on a rainy day while having a cold beer and contemplating what to cook for dinner.

That's it. No more 9-5, no more office, no more being bounded to one location. Also, no illegal stuff (thx anyway Cuban). What can I do?

Thanks for the info.

From my perspective, I would pack up your bags and travel the world. At 23, with a qualification behind you and some IT experience, hey, you can get part-time or base level consulting work anywhere....and that will most likely be hours that YOU want to work.

IF you can truly "live minimally", then really there is nothing holding you back.

Why not?

My question is a bit different and comes from one who has no idea of how things work.

I own a house overseas, have some money in the bank (here and OS) and some superannuation (OS). My wife loves gold, however, and we have a little bit of cash available.

I like cash. It buys me things like air tickets, hotel rooms, small luxuries, etc. However, I know what can happen to cash (I was here in '97). I like gold, too. It's good to have it on hand if required. However, what proportion of my available funds (say $30,000) should I spend on gold and how much keep in the bank?

I don't want to have lots of gold (that my wife becomes attached to) and no cash; but I don't want to have cash that might bleed away either. What's a good balance?

Xangsamhua

Frankly Xangsamhua, I wouldn't be owning physical gold...at present.

I understand your experience with cash in the 97 crisis, however, if anything that should indicate a conservative approach may be better. I am not holding onto any physical gold at present (having sold out completely on Monday), nor do l intend to buy more in the foreseeable future. That may change if the gold price comes tumbling down (unlikely). That said, I don't expect it to rocket up either.

Looking at alternatives: I would now be looking at diversifying away from holding just 1 currency. I like the $SIN, possibly the Euro, at these prices the $AU seems undervalued against the $US. But I would only be holding these as currencies where my investments are held, either in bank accounts or in assets in those countries. Assets can be deposits, managed funds, real estate, equities (perhaps even gold shares!!) and other more obscure holdings.

I should state that I am NOT an investment advisor, or anything like that, but I base my actions on what I see and experience in my travels. Basically, what this means is that I don't know anything more than anyone else.....its just my opinion.

Wonderful post Cuban !!

Simply: you've already missed the boat. Oil is now getting back to more realistic levels.

Other opportunities will present themselves.....they always do.

IMO, commodities (ex oil) are oversold. Could be an interesting longer term play there.

Hi guys, need some suggestions on non-office, non 9-5 way of living. Next year, I am going to leave my job, throw out my clock and anything to do with alarms and live the way I want.

Some example of "jobs" that would suit my style of living are:

Novelist, not too realistic for me, I am no writer but can give it a shot.

Freelance journalist, maybe take a gig once in a while to pay rent?

Online poker player, tried this for a while, I am no good at all and I don't really want to depend on good internet connection

Private tutor, I hear Korea pays private tutors big bucks per hour. I can put in like 10 hours a week and still have time to live the way I want.

Ebayer, too competetive.

Okay, these are just examples. Basically if you have any suggestions that would fit my lifestyle that would be awesome. I don't believe in proper office fixed time jobs, they are creations of the modern society. No offense if that's what you want, we all have our own way of living.

Stanny,

IF (and its a BIG "IF") you are serious about this, you must have had some thoughts about what you are going to do, or how you are going to live next year?

You have a list that is predominantly made up of "intellectual" pursuits: novelist; journalist; tutor. You must have a reason for this based on some past experience....at least I hope you have.

The questions I would ask you are:

how old are you?

work experience (as in FULL-Time paid employment)?

education level?

amount of money you envisage needing per week/month/year?

your level of health?

your interests?

Without any of these, how can anyone give you an idea that is either realistic or practical ?

Please let us know, then perhaps you may get a relevant response.