The 800'000 Bht obstacle

[NanLaew]

If planning for the future, the married guy could do worse than investing B1m with a well-established, fast-growing, foreign-owned, Pattaya night-entertainment enterprise that is guaranteeing 8% return. That will handily cover the foreigners annual lump-sum requirements with some shopping money left over for the missus.

 

Single guys? Well they would need to have B2m tied up to cover their annual 'Jerry Maguire' moment at Immigration with plenty left over for the quintessential dancing lessons, library memberships, choral society and things of that ilk.

 

Right now on Soi 6, there are 9 bars under major refurbishment and 6 of these belong to the above investment vehicle.

 

Get in quick I say but if morality rears its pontifical head, you can always hide your light under a bushel ring-fence the investment by sticking your money with SCG instead.

[NanLaew]

11 minutes ago, poohy said:

"The Thai government will welcome westerners if they feel are going to be of benefit to the country, one being, they want their money invested in Thailand and not abroad. Thailand is not a charitable kingdom to accommodate cheap charlies that are considered poor in their own countries that owes them a better quality lifestyle. To be given something, one has to give something back in return." 

 

Fair enough BUT what does Thailand give in return ??

Cannot own land

Archaic visa reporting,foreigner considered second class

Poor security in banking system

 

so really  just "sticky rice n somtam"

 

Not a fat lot  this seems a one way street as always with Thailand

You need any help with finding the door sir?

[poohy]

16 minutes ago, NanLaew said:

You need any help with finding the door sir?

 

Oh God another "leave if you dont like it snowflake". No i dont need any help to leave

Honestly if you dont think you need value for your money you have been in Thailand to long or are Thai! 

 

i have a nice house in the countryside and by the beach just means i will spend 6 months in UK eating real food and drinking real beer and 6 here now I have been planning this for while so not a big deal.

I will however miss my dogs and i suppose the wife????

 

Edited October 27, 2018 by poohy

[KittenKong]

26 minutes ago, NanLaew said:

If planning for the future, the married guy could do worse than investing B1m with a well-established, fast-growing, foreign-owned, Pattaya night-entertainment enterprise that is guaranteeing 8% return. That will handily cover the foreigners annual lump-sum requirements with some shopping money left over for the missus.

The old jokes are always the best.

[janclaes47]

19 minutes ago, NanLaew said:

the married guy could do worse than investing B1m with a well-established, fast-growing, foreign-owned, Pattaya night-entertainment enterprise that is guaranteeing 8% return.

Advertisement?

 

I guess those guarantees are guaranteed until they run off with the money?

 

23 minutes ago, NanLaew said:

Right now on Soi 6, there are 9 bars under major refurbishment and 6 of these belong to the above investment vehicle.

 You mean they closed up shop already, while collecting the last " investors " money, before they disappear on the horizon?

 

[KittenKong]

34 minutes ago, wgdanson said:

But if that 800,000 is 'stuck' in a Thai bank, it is not being used for the benefit of normal Thais, only for the investors who use that money to gain profit.

Well, it's my 800kB that backs the insane loans made to "normal Thais" who want cars etc. that they simply cant afford to maintain. Get a loan and buy today, then sell at a loss tomorrow because you've run out of cash. "Normal Thai" economics.

[marcusarelus]

1 hour ago, Cadbury said:

And you would know that from personal experience having lived in for extended periods in all three of those countries.

 

I trust Vietnamese banks; in fact I have had US$50,000 dollars sitting in a deposit account in Vietnam's largest bank for over 10 years and it is still there. When I first deposited it it was paying 14% p.a. on a yearly term deposit. After a few years that rate dropped and it is now only paying a miserable 8%. 

 

In Vietnam 5 year multiple entry marriage visa exemption costs US$10. They have to be stamped at a local immigration office every six months or better still they stamp them free every time one re-enters the country. That's all; nothing else needed. None of that exhaustive immigration nonsense and house inspections and rental registrations that exist in Thailand.

 

Plus another bonus is the cost of living is about half that of Thailand. Rentals might be slightly higher but everything else is about half price. 

 

Many expats living in Thailand can't move because of marriage and home commitments and that is to be expected but for those who are free and easy Vietnam is one country that makes people welcome whether they wish to retire, marry or work. 

So why is everyone in Thailand?  I guess we don't have the smarts to look 100 miles away.  Ya sure. Maybe you want to compare expats living in Thailand vs Vietnam and tell us about the relative numbers.

[janclaes47]

1 hour ago, Cadbury said:

trust Vietnamese banks; in fact I have had US$50,000 dollars sitting in a deposit account in Vietnam's largest bank for over 10 years and it is still there.

Looks like a good investment.

 

[marcusarelus]

48 minutes ago, poohy said:

"The Thai government will welcome westerners if they feel are going to be of benefit to the country, one being, they want their money invested in Thailand and not abroad. Thailand is not a charitable kingdom to accommodate cheap charlies that are considered poor in their own countries that owes them a better quality lifestyle. To be given something, one has to give something back in return." 

 

Fair enough BUT what does Thailand give in return ??

Cannot own land

Archaic visa reporting,foreigner considered second class

Poor security in banking system

 

so really  just "sticky rice n somtam"

 

Not a fat lot  this seems a one way street as always with Thailand

Cannot own land is a plus.  Read about all the poor fellows who get fleeced without being able to buy land.  Land ownership would triple the amount of scams.  Thailand has great medical infrastructure and farang friendly rental and restaurants and grocery stores.  What do I get?  wife, food, housing, medical care all at a price about half of what I paid in America.  Good deal to me. 

[marcusarelus]

3 minutes ago, janclaes47 said:

Looks like a good investment.

 

You might want to google Asia's best performing currencies. 

[Cadbury]

Just now, marcusarelus said:

So why is everyone in Thailand?  I guess we don't have the smarts to look 100 miles away.  Ya sure. Maybe you want to compare expats living in Thailand vs Vietnam and tell us about the relative numbers.

Are you just trolling for an argument out of what I said about banks and marriage visas in Vietnam? I was responding to another contributor to correct any misunderstanding about Vietnamese banks. Plus adding a bit of comparative info about Vietnam marriage visas. Nothing more! 

I couldn't care less who lives where. People have their reasons for living where they want.

[marcusarelus]

1 minute ago, Cadbury said:

Are you just trolling for an argument out of what I said about banks and marriage visas in Vietnam? I was responding to another contributor to correct any misunderstanding about Vietnamese banks. Plus adding a bit of comparative info about Vietnam marriage visas. Nothing more! 

I couldn't care less who lives where. People have their reasons for living where they want.

Not trolling.  Thailand is close to the top of places to retire and Vietnam is close to the bottom.  That's why there are so many people retired in Thailand and so few in Vietnam. 

Edited October 27, 2018 by marcusarelus

[KhunFred]

It is already obvious that Thailand will eventually force me to move to a place where I can afford to buy into the local healthcare plan. Places such as Costa Rica and Mexico have such plans and so does Colombia. The ability to get along with only English was the deciding factor in retiring here.At 68, I cannot afford the prices they expect for health insurance.  If I am expected to pay 800 dollars or more per month, any economic advantage is pretty much wiped out. One Pattaya expat that I know, has already moved to Colombia, but he speaks excellent Spanish. I am not going to learn any new languages at this phase of my life. The banking situation is partly the response of the Thai government being forced by the USA into unfair practices that require them to report information on all Americans with local bank accounts. FATCA is a big fat mess for all concerned. The looming healthcare disaster is one that I need to address, but I do not have many options. I am engaged to a local woman who supervises a restaurant and she would refuse to live anywhere but Thailand. Sometimes, the best of conditions just turn to crap.

[ezzra]

2 hours ago, Thailand said:

As I said on another thread, a great business opportunity for some people coming up.

That could work if the borrower can guarantee the 800 K which in most cases involves lawyers and contracts or changing ownership of tangible assets which again takes doing and costs...

[giddyup]

1 hour ago, Thian said:

 

Not only from producing watches (which nobody needs these days with cellphones).

 

Have a look at Ebay, Amazon etc and see the literally hundreds of thousands of watches for sale. Top sports people appear everywhere wearing and advertising watches. think watches are more popular than ever, perhaps not among the under 20's. They are as much a fashion statement as time tellers.

[marcusarelus]

14 minutes ago, KhunFred said:

It is already obvious that Thailand will eventually force me to move to a place where I can afford to buy into the local healthcare plan. Places such as Costa Rica and Mexico have such plans and so does Colombia. The ability to get along with only English was the deciding factor in retiring here.At 68, I cannot afford the prices they expect for health insurance.  If I am expected to pay 800 dollars or more per month, any economic advantage is pretty much wiped out. One Pattaya expat that I know, has already moved to Colombia, but he speaks excellent Spanish. I am not going to learn any new languages at this phase of my life. The banking situation is partly the response of the Thai government being forced by the USA into unfair practices that require them to report information on all Americans with local bank accounts. FATCA is a big fat mess for all concerned. The looming healthcare disaster is one that I need to address, but I do not have many options. I am engaged to a local woman who supervises a restaurant and she would refuse to live anywhere but Thailand. Sometimes, the best of conditions just turn to crap.

What does any of the above have to do with the 800,000 baht?

[marcusarelus]

11 minutes ago, giddyup said:

Have a look at Ebay, Amazon etc and see the literally hundreds of thousands of watches for sale. Top sports people appear everywhere wearing and advertising watches. think watches are more popular than ever, perhaps not among the under 20's. They are as much a fashion statement as time tellers.

I wear one to check my BP and pulse rate and get notifications from my phone. 

[Kwasaki]

Another I'm alright jack wanted people to know his got money, obnoxious.

[KhunFred]

55 minutes ago, marcusarelus said:

What does any of the above have to do with the 800,000 baht?

You are absolutely right. You should delete the post because personal experiences of living on 800 thousand baht have nothing to do with the subject.

[marcusarelus]

2 minutes ago, KhunFred said:

You are absolutely right. You should delete the post because personal experiences of living on 800 thousand baht have nothing to do with the subject.

You wrote an anti Thai tirade below but never mentioned it was your personal experience living on 800,000 baht.  How were we supposed to figure it out? 

 

You wrote, " It is already obvious that Thailand will eventually force me to move to a place where I can afford to buy into the local healthcare plan. Places such as Costa Rica and Mexico have such plans and so does Colombia. The ability to get along with only English was the deciding factor in retiring here.At 68, I cannot afford the prices they expect for health insurance.  If I am expected to pay 800 dollars or more per month, any economic advantage is pretty much wiped out. One Pattaya expat that I know, has already moved to Colombia, but he speaks excellent Spanish. I am not going to learn any new languages at this phase of my life. The banking situation is partly the response of the Thai government being forced by the USA into unfair practices that require them to report information on all Americans with local bank accounts. FATCA is a big fat mess for all concerned. The looming healthcare disaster is one that I need to address, but I do not have many options. I am engaged to a local woman who supervises a restaurant and she would refuse to live anywhere but Thailand. Sometimes, the best of conditions just turn to crap."

[marcusarelus]

30 minutes ago, Kwasaki said:

Another I'm alright jack wanted people to know his got money, obnoxious.

Me?  You didn't quote me so I don't know.  My BP watch cost 500 baht on Lazada.  I think checking my BP and pulse is a smart thing and not obnoxious and so does my doctor.  What are you talking about?

[Kwasaki]

6 minutes ago, marcusarelus said:

Me?  You didn't quote me so I don't know.  My BP watch cost 500 baht on Lazada.  I think checking my BP and pulse is a smart thing and not obnoxious and so does my doctor.  What are you talking about?

I was quoting OP opening post.

I did not mean to upset your bp. ????

[poohy]

11 minutes ago, marcusarelus said:

You wrote an anti Thai tirade below but never mentioned it was your personal experience living on 800,000 baht.  How were we supposed to figure it out? 

 

You wrote, " It is already obvious that Thailand will eventually force me to move to a place where I can afford to buy into the local healthcare plan. Places such as Costa Rica and Mexico have such plans and so does Colombia. The ability to get along with only English was the deciding factor in retiring here.At 68, I cannot afford the prices they expect for health insurance.  If I am expected to pay 800 dollars or more per month, any economic advantage is pretty much wiped out. One Pattaya expat that I know, has already moved to Colombia, but he speaks excellent Spanish. I am not going to learn any new languages at this phase of my life. The banking situation is partly the response of the Thai government being forced by the USA into unfair practices that require them to report information on all Americans with local bank accounts. FATCA is a big fat mess for all concerned. The looming healthcare disaster is one that I need to address, but I do not have many options. I am engaged to a local woman who supervises a restaurant and she would refuse to live anywhere but Thailand. Sometimes, the best of conditions just turn to crap."

He did not write an anti Thai tirade

he just pointed out you cant buy into local health care here which is available in other retirement countries and buying health insurance wiped out Thailands cheap benefit

 

Fair comment i feel

[marcusarelus]

7 minutes ago, poohy said:

He did not write an anti Thai tirade

he just pointed out you cant buy into local health care here which is available in other retirement countries and buying health insurance wiped out Thailands cheap benefit

 

Fair comment i feel

Fair has nothing to do with it.  A post can be fair and anti Thai.  I don't understand where he got the 800 dollar figure or why he would quote it in dollars instead of baht unless he doesn't live in Thailand.  He says he wrote a personal experience living on 800,000 baht but he never states that in the post.  How were we supposed to figure that out? 

[HAKAPALITA]

1 hour ago, Kwasaki said:

Another I'm alright jack wanted people to know his got money, obnoxious.

Another Fred.. Dam these people creating obstacles..why isnt a Ducatti  same price as a Vespa.

 

1 hour ago, Kwasaki said:

Another I'm alright jack wanted people to know his got money, obnoxious.

 

[poohy]

19 minutes ago, marcusarelus said:

Fair has nothing to do with it.  A post can be fair and anti Thai.  I don't understand where he got the 800 dollar figure or why he would quote it in dollars instead of baht unless he doesn't live in Thailand.  He says he wrote a personal experience living on 800,000 baht but he never states that in the post.  How were we supposed to figure that out? 

Oh for gods sake......English comprehension is not your strong point is it!! 800 USD is cost of health insurance

 

"At 68, I cannot afford the prices they expect for health insurance.  If I am expected to pay 800 dollars or more per month, any economic advantage is pretty much wiped out. "

 

Once again he making a fair but not hideously anti Thai comment

Edited October 27, 2018 by poohy

[scorecard]

5 hours ago, KittenKong said:

I know two farangs who lost large sums of money due to bank/ATM fraud here, and who never recovered a single satang. Whist I have faith in the stability of the banks I use here, I have little faith in their willingness to refund me in case of loss due to fraud by their own staff.

Just a side comment, I wonder how many folks regularly check their bank balance / get their bank book(s) updated, so they are very quickly aware of any discrepancy?

 

I am well aware that many Thai folks don't trust banks, but that level of trust has gone up a bit. Twenty years banks trust of Thai banks was very low and it was common to see many Thai men around the streets with their bank book in their shirt pocket, because they would go into a branch every day and get the balance checked.

 

Two of my retired Thai relatives adopted internet banking early on, they log on, find the latest page of their account details and print it, every day, and check that it looks all in order and keep the print outs. Their comment on this, 'I don't fully trust banks'.

 

  

[KittenKong]

2 minutes ago, scorecard said:

Just a side comment, I wonder how many folks regularly check their bank balance / get their bank book(s) updated, so they are very quickly aware of any discrepancy?

I get SMS alerts if there is any movement on my savings accounts here, and smartphone apps have similar facilities. Doesnt apply to fixed term deposits but I deal with those in person on the day they mature. I certainly would not want to leave any account unmonitored for very long, anywhere.

[marcusarelus]

5 minutes ago, scorecard said:

Just a side comment, I wonder how many folks regularly check their bank balance / get their bank book(s) updated, so they are very quickly aware of any discrepancy?

 

I am well aware that many Thai folks don't trust banks, but that level of trust has gone up a bit. Twenty years banks trust of Thai banks was very low and it was common to see many Thai men around the streets with their bank book in their shirt pocket, because they would go into a branch every day and get the balance checked.

 

Two of my retired Thai relatives adopted internet banking early on, they log on, find the latest page of their account details and print it, every day, and check that it looks all in order and keep the print outs. Their comment on this, 'I don't fully trust banks'.

I think most who have even a little bit of sense would have SMS and be updated for every transaction and 4 times a month for balance. 

[scorecard]

2 minutes ago, KittenKong said:

I get SMS alerts if there is any movement on my savings accounts here, and smartphone apps have similar facilities. Doesnt apply to fixed term deposits but I deal with those in person on the day they mature. I certainly would not want to leave any account unmonitored for very long, anywhere.

Same.

 

2 minutes ago, marcusarelus said:

I think most who have even a little bit of sense would have SMS and be updated for every transaction and 4 times a month for balance. 

Agreed, 

I do the same.