Retirement - are you willing to toss $2700.00?

[Otis Cribelcoblis]

8 months ago I bought some gold.  Enough gold to fund the bank account to the tune of 800,000 baht. 

 

In the last few months, my gold has appreciated 2770 Dollars as of today's value.

 

How much would I earn by leaving that 800,000b in a Thai bank for 6 months?

 

Anyone here willing to toss that amount of money or am I the only one concerned?

[jackdd]

8 months ago i was thinkink about either buying Bitcoin for 800k THB or putting the money in my bank account.

Luckily i put it in a bank account, if i had bought bitcoin i would have lost 500k until today.

Anyone here willing to toss that amount of money or am I the only one concerned?

[Otis Cribelcoblis]

Just now, jackdd said:

8 months ago i was thinkink about either buying Bitcoin for 800k THB or putting the money in my bank account.

Luckily i put it in a bank account, if i had bought bitcoin i would have lost 500k until today.

Anyone here willing to toss that amount of money or am I the only one concerned?

Are you mocking me?  Bitcoin is fools gold.  But for you, it might be a great investment.  Is there a reason you didn't respond to my question?

[ocddave]

1 minute ago, jackdd said:

8 months ago i was thinkink about either buying Bitcoin for 800k THB or putting the money in my bank account.

Luckily i put it in a bank account, if i had bought bitcoin i would have lost 500k until today.

Anyone here willing to toss that amount of money or am I the only one concerned?

So investing in Bitcoin or Thai Baht, is like throwing money out the window? Check!

[jmd8800]

We are all adults here. The choice is your to make.

[edwardandtubs]

1 minute ago, Otis Cribelcoblis said:

Are you mocking me?  Bitcoin is fools gold.  But for you, it might be a great investment.  Is there a reason you didn't respond to my question?

He did respond to your question.

[jmd8800]

Being serious... if expats saw the 800K (or whatever the individual uses to qualify for visa or extension) as a cost of living like food and shelter  ...  then they would realize that that money is not money for investment but rather an expense. It is a part of the expense of you living in Thailand.

[baansgr]

14 minutes ago, jmd8800 said:

Being serious... if expats saw the 800K (or whatever the individual uses to qualify for visa or extension) as a cost of living like food and shelter  ...  then they would realize that that money is not money for investment but rather an expense. It is a part of the expense of you living in Thailand.

Thats just it....its supposed to be for living expenses, however the new rules dont allow spending all of it for 6 months then half for the next 6 months...so in reality it cant be used for expenditure.

[scoutman360]

30 minutes ago, baansgr said:

Thats just it....its supposed to be for living expenses, however the new rules dont allow spending all of it for 6 months then half for the next 6 months...so in reality it cant be used for expenditure.

I am pretty sure Thailand is trying to keep rich farangs in, and poor farangs out. Its all about tolerating foreigners only if they have lots of money to bring into the country.

[NCC1701A]

1 hour ago, Otis Cribelcoblis said:

Anyone here willing to toss that amount of money or am I the only one concerned?

i'm not concerned. 800k in a Thai bank and I don't give it another thought. Just so I don't have to worry about the Thai immigration issues.

 

that is the definition of being able to afford it.

 

[Otis Cribelcoblis]

21 minutes ago, NCC1701A said:

i'm not concerned. 800k in a Thai bank and I don't give it another thought. Just so I don't have to worry about the Thai immigration issues.

 

that is the definition of being able to afford it.

 

I have found, that those who are quick to tell others how rich they are or how they don't care are the ones who typically have nothing.

[NCC1701A]

3 minutes ago, Otis Cribelcoblis said:

I have found, that those who are quick to tell others how rich they are or how they don't care are the ones who typically have nothing.

 

don't you know who I am? you must be new here.

 

 

 

[NCC1701A]

2 hours ago, Otis Cribelcoblis said:

Bitcoin is fools gold. 

 

[Otis Cribelcoblis]

3 minutes ago, NCC1701A said:

 

don't you know who I am? you must be new here.

 

 

 

Not only do I not, but you have mistaken me for someone who cares.

[impulse]

5 minutes ago, NCC1701A said:

 

 

Wow.

 

Looks just like Enron stock.  It outperformed gold, too.

 

Better look at the results since 2017...

 

[NCC1701A]

1 minute ago, Otis Cribelcoblis said:

Not only do I not, but you have mistaken me for someone who cares.

so what is your point here extremely rude person who has alienated everyone in your topic.

 

I answered your question and said I am not concerned and you attacked me and called me a liar. 

 

maybe the mods should lock this thread.

 

 

[NCC1701A]

3 minutes ago, impulse said:

 

Wow.

 

Looks just like Enron stock.  It outperformed gold, too.

 

Better look at the results since 2017...

 

why? i bought in 2011 and sold in 2017. i forgot I had it.

[Otis Cribelcoblis]

Just now, NCC1701A said:

so what is your point here extremely rude person who has alienated everyone in your topic.

 

I answered your question and said I am not concerned and you attacked me and called me a liar. 

 

maybe the mods should lock this thread.

 

 

Sure, go run and find mommy.  I didn't call you anything.  I just told you that in my long experience, those that are so quick to tell me how rich they are, really are not.  Your mileage may vary.  You do seem very defensive, any reason why?

[dcnx]

51 minutes ago, NCC1701A said:

i'm not concerned. 800k in a Thai bank and I don't give it another thought. Just so I don't have to worry about the Thai immigration issues.

 

You don’t yet.

 

You’re always one Somchai away from having your life turned upside down here. The goal post will always be moved. Only a fool would allow himself to get too comfortable while living on quicksand.

[NCC1701A]

5 minutes ago, dcnx said:

You don’t yet.

 

You’re always one Somchai away from having your life turned upside down here. The goal post will always be moved. Only a fool would allow himself to get too comfortable while living on quicksand.

you have a good point. i have a paranoid personally which is perfectly suited to living in Thailand.  i fully expect the limits to be increased again in the next 5-15 years. Most likely to be doubled at one time just like they were a long time ago.     

Edited January 31, 2019 by NCC1701A

[Khaeng Mak]

So on todays prices you have somewhere in the the vacinity of 40 baht weight in gold.  Where in your house do you keep it and can I come over for a beer?

[ukrules]

1 hour ago, NCC1701A said:

 

Around these parts we have a saying 'Gold is a fools Bitcoin' lol

[HuskerDo]

Otis - You wouldn't be posting that question if Gold had gone the other direction or stayed stable. The same argument could be made of any good investment. If someone invested in Bitcoin at the right time they would have done well. Had they invested in it when it was sitting at $18,000 (US) then they lost a ton of money. Same argument with the Baht had you put currency from your homeland into a Thai bank a few years ago you'd have a better investment than your Gold investment. The baht has really appreciated over the past number of years.

 

It looks like you made about 12% on your Gold. Very good investment. But, will you get out before the tide turns (like it always does with Gold). As Warren Buffett stated, no matter how long you hold a ounce of Gold, at the end of the day you still only have an ounce of Gold. The price will fluctuate but the Gold itself doesn't grow. He stated he would never own Gold. That's beside the point. You did well with your investment but it could have gone the other way and we wouldn't have heard from you. Not intended as a putdown. Just making a point. Everyone has their own reasons for investing the way they do. It's a personal choice. If the price of Gold went the other way you could be sitting on a loss of $2,700.

 

I'm happy you did well with it tho. Great luck with your investments in the future.   

[HuskerDo]

3 hours ago, Otis Cribelcoblis said:

Are you mocking me?  Bitcoin is fools gold.  But for you, it might be a great investment.  Is there a reason you didn't respond to my question?

"Bitcoin is fools gold."...….

 

I think you are being VERY generous with that comment Otis. Bitcoin was created for millennials and had a good short term run propelled by speculators but as far as it being a good long term investment or the hope it'll become a viable currency, well, neither is going to happen. 

Edited January 31, 2019 by HuskerDo

[2tall]

if you bought gold 8 months ago....you are upside down and stand to lose if you were to sell now.

[Otis Cribelcoblis]

1 minute ago, 2tall said:

if you bought gold 8 months ago....you are upside down and stand to lose if you were to sell now.

I sold my gold when it hit 1350 last year.  I bought in again at 1205.  

 

I'm doing fine.  Better than parking it in a Thai bank account.

[arithai12]

First, you are mixing dollar and baht. A good part of what you "gained" with your gold is due to the depreciation of dollar vs baht.  By the same token, 800k THB translated to dollars increased by 1690 dollars over the last 6 months.

 

Second, immigration wants to see 800k THB, not dollars or gold. What will you do, sell your gold 3 months before extension is due? Do you know that the money has to come from abroad?

 

 

[Otis Cribelcoblis]

1 minute ago, arithai12 said:

First, you are mixing dollar and baht. A good part of what you "gained" with your gold is due to the depreciation of dollar vs baht.  By the same token, 800k THB translated to dollars increased by 1690 dollars over the last 6 months.

 

Second, immigration wants to see 800k THB, not dollars or gold. What will you do, sell your gold 3 months before extension is due? Do you know that the money has to come from abroad?

 

 

When you put 400,000 or 800,000b in an account, no one will ask you from where it came.  That's wrong.  My gold is in grams.  I already did the math but feel more comfortable talking about it in ounces.  Regardless of the amount, I used the equivalent of 800,000b as my example.  I would never have appreciated my money in a Thai bank account.  It's a loser.

[ubonjoe]

Not directly visa or extensions of stay related. Move to here.

[BritManToo]

8 hours ago, Otis Cribelcoblis said:

I have found, that those who are quick to tell others how rich they are or how they don't care are the ones who typically have nothing.

I think all the old fools boasting about how they have plenty are deeply worried about the next Thai eviction notices being issued to all white foreigners.

Your're next!