dabhand Posted February 1, 2019 Share Posted February 1, 2019 7 hours ago, Otis Cribelcoblis said: 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. You initially said you bought your gold eight months ago. Now you are saying you 'bought in again at 1205'. The gold price chart suggests that the price of gold eight months back was close to 1300, with 1205 being the price around 5/6 months back. Hmmmm. 1 Link to comment Share on other sites More sharing options...
Thailand J Posted February 1, 2019 Share Posted February 1, 2019 (edited) Gold price has been flat since 2013. It was higher 8 months ago. One simple way to invest in gold is to buy into a gold ETF such as GLD, which tracks gold price closely. You can do it online if you have a brokerage account. Edited February 1, 2019 by Thailand J Link to comment Share on other sites More sharing options...
Popular Post jmd8800 Posted February 1, 2019 Popular Post Share Posted February 1, 2019 Looks like this has become an investment thread. Putting money in a Thai bank is a 'cost of living' of living in Thailand. Thailand is asking you to put some money in an account in exchange for you living here. They have every right to do that. You have every right to reject the terms the Thai gov't requires of you to live here. You have choices. Choose whatever floats your boat. 3 Link to comment Share on other sites More sharing options...
HuskerDo Posted February 1, 2019 Share Posted February 1, 2019 2 hours ago, jmd8800 said: Looks like this has become an investment thread. Putting money in a Thai bank is a 'cost of living' of living in Thailand. Thailand is asking you to put some money in an account in exchange for you living here. They have every right to do that. You have every right to reject the terms the Thai gov't requires of you to live here. You have choices. Choose whatever floats your boat. It would appear that many peoples boats have holes in the now due to the new requirements. I don't think the agents will be able to plug those holes anymore going forward. 1 Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted February 2, 2019 Author Share Posted February 2, 2019 On 2/1/2019 at 9:59 AM, dabhand said: You initially said you bought your gold eight months ago. Now you are saying you 'bought in again at 1205'. The gold price chart suggests that the price of gold eight months back was close to 1300, with 1205 being the price around 5/6 months back. Hmmmm. Wow, you caught me. Wait, doing what? I sold the gold I had when it hit the high last year. When it was 1200 or so I bought it again. So you caught me with what? Please explain. Link to comment Share on other sites More sharing options...
sfokevin Posted February 2, 2019 Share Posted February 2, 2019 In the best of both worlds one should be able to buy a few Thai Baht gold chains and wear them to Immigration for your annual extension and use them as your 800k... 2 Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted February 2, 2019 Author Share Posted February 2, 2019 58 minutes ago, sfokevin said: In the best of both worlds one should be able to buy a few Thai Baht gold chains and wear them to Immigration for your annual extension and use them as your 800k... You apparently haven't seen the sign outside the front door at Immigration in Chang Wattana. Link to comment Share on other sites More sharing options...
dabhand Posted February 2, 2019 Share Posted February 2, 2019 3 hours ago, Otis Cribelcoblis said: Wow, you caught me. Wait, doing what? I sold the gold I had when it hit the high last year. When it was 1200 or so I bought it again. So you caught me with what? Please explain. I thought my comment was quite clear. Perhaps you have English comprehension issues so, to assist you: your 1st comment noted you had bought the gold 8 months ago. The price at that time was around 1300. you now say you bought the gold at 1200, which was the price 5/6 months ago. Your story seems not to match with the gold price history. Please explain. 1 Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted February 2, 2019 Author Share Posted February 2, 2019 5 minutes ago, dabhand said: I thought my comment was quite clear. Perhaps you have English comprehension issues so, to assist you: your 1st comment noted you had bought the gold 8 months ago. The price at that time was around 1300. you now say you bought the gold at 1200, which was the price 5/6 months ago. Your story seems not to match with the gold price history. Please explain. You're quite the Sherlock Holmes, aren't you? Would you like the exact day and time so you can create a spreadsheet to correlate the price and the date/time? Let me help you understand. The price goes up, the price goes down. Last year it went up. I sold at the high. Then it went down, and I bought it again at the low. Now it is up. I'm going to sneeze, do you want me to come back and post the exact time and velocity? 1 Link to comment Share on other sites More sharing options...
HuskerDo Posted February 2, 2019 Share Posted February 2, 2019 3 hours ago, sfokevin said: In the best of both worlds one should be able to buy a few Thai Baht gold chains and wear them to Immigration for your annual extension and use them as your 800k... I PITY THE FOOL who wears this many gold chains. :-) 1 Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted February 2, 2019 Author Share Posted February 2, 2019 1 minute ago, HuskerDo said: I PITY THE FOOL who wears this many gold chains. ???? I have seen quite a few Thai with almost as many. Link to comment Share on other sites More sharing options...
Popular Post HuskerDo Posted February 2, 2019 Popular Post Share Posted February 2, 2019 25 minutes ago, Otis Cribelcoblis said: You're quite the Sherlock Holmes, aren't you? Would you like the exact day and time so you can create a spreadsheet to correlate the price and the date/time? Let me help you understand. The price goes up, the price goes down. Last year it went up. I sold at the high. Then it went down, and I bought it again at the low. Now it is up. I'm going to sneeze, do you want me to come back and post the exact time and velocity? To be honest Otis posting after the fact of purchases and sales is silly if you want to be credible. You claim to have SOLD AT THE HIGH and BOUGHT IT AGAIN AT THE LOW. Maybe and maybe not. Try quoting your transactions when they actually happen and we'll take notice as to how well you did. Anyone can claim they bought low, sold at the high and bought back in at the low. No one can do that on a regular basis. You are not believable. 2 1 Link to comment Share on other sites More sharing options...
HuskerDo Posted February 2, 2019 Share Posted February 2, 2019 4 minutes ago, Otis Cribelcoblis said: I have seen quite a few Thai with almost as many. Nonsense. Link to comment Share on other sites More sharing options...
Otis Cribelcoblis Posted February 2, 2019 Author Share Posted February 2, 2019 12 minutes ago, HuskerDo said: To be honest Otis posting after the fact of purchases and sales is silly if you want to be credible. You claim to have SOLD AT THE HIGH and BOUGHT IT AGAIN AT THE LOW. Maybe and maybe not. Try quoting your transactions when they actually happen and we'll take notice as to how well you did. Anyone can claim they bought low, sold at the high and bought back in at the low. No one can do that on a regular basis. You are not believable. Were you not "quite" honest before? Why be "quite" honest now? You're a time waster. I'll help you out by ignoring you with the forum software. I'm honest about it, not "quite." 1 Link to comment Share on other sites More sharing options...
HuskerDo Posted February 2, 2019 Share Posted February 2, 2019 7 minutes ago, Otis Cribelcoblis said: Were you not "quite" honest before? Why be "quite" honest now? You're a time waster. I'll help you out by ignoring you with the forum software. I'm honest about it, not "quite." It's hard to ignore the truth Otis. 2 Link to comment Share on other sites More sharing options...
Ks45672 Posted February 2, 2019 Share Posted February 2, 2019 On 2/1/2019 at 2:10 AM, impulse said: Wow. Looks just like Enron stock. It outperformed gold, too. Better look at the results since 2017... Why not look at the results from 2011? I paid $3 per btc and u know people who bought it as low as 5 cents ,a lot of purple people around here Sad... Link to comment Share on other sites More sharing options...
HuskerDo Posted February 2, 2019 Share Posted February 2, 2019 (edited) On 2/1/2019 at 6:38 AM, jmd8800 said: Looks like this has become an investment thread. Putting money in a Thai bank is a 'cost of living' of living in Thailand. Thailand is asking you to put some money in an account in exchange for you living here. They have every right to do that. You have every right to reject the terms the Thai gov't requires of you to live here. You have choices. Choose whatever floats your boat. You are right JM but unfortunately some here have holes in their boats so...… ???? Edited February 2, 2019 by HuskerDo Link to comment Share on other sites More sharing options...
impulse Posted February 3, 2019 Share Posted February 3, 2019 (edited) 7 hours ago, Ks45672 said: Why not look at the results from 2011? I paid $3 per btc and u know people who bought it as low as 5 cents ,a lot of purple people around here Sad... Because I can't turn back the clock and buy it in 2011. And I don't think you can, either. Today, it's not a good bet. Could it go to $50,000 as some pundits seem to predict? Sure. But there's a huge difference in the downside between your $3 bitcoin that hit $20,000 and today's $3,000 bitcoin that may (?) go to $50K. And not nearly as much upside relative to the risk of it going tits up. Like Enron did. Edit: BTW, if I want to buy something worth $100 with Bitcoin, how much will that blockchain transaction cost to implement today? In 5 more years? Edited February 3, 2019 by impulse Link to comment Share on other sites More sharing options...
SheungWan Posted February 3, 2019 Share Posted February 3, 2019 (edited) If one's finances are limited such that it is a necessary choice between either keeping 800k in the bank for one's visa extension OR using that money for different investment purposes, then decide which one of these is more important to you and act accordingly. Edited February 3, 2019 by SheungWan Link to comment Share on other sites More sharing options...
ballpoint Posted February 3, 2019 Share Posted February 3, 2019 The question shouldn't be are you willing to lose the income from 800,000 baht invested somewhere in order to remain here with a retirement visa, but rather, how much will the alternative cost? If the cost of moving somewhere else and satisfying their visa requirements is less than THB 800,000, and living there is the same, or lower, cost as Thailand, then for someone with limited funds, it would appear to be a no brainer. Link to comment Share on other sites More sharing options...
guzzi850m2 Posted February 3, 2019 Share Posted February 3, 2019 What is the best interest rate you can get in a Thai bank? 1 or 2% perhaps? The problem is that you can't put the 800k in a long term high interest account as the money has to be easy/quick to get in case of an emergency. Since I got some years before retiring, I will likely just save up the 800k and put them into an Thai account and forget about them. My wife can then get them when I die. I might also change my retirement extension to marriage visa which oddly only demand 1/2 of 800k. 1 Link to comment Share on other sites More sharing options...
topt Posted February 3, 2019 Share Posted February 3, 2019 23 minutes ago, guzzi850m2 said: The problem is that you can't put the 800k in a long term high interest account as the money has to be easy/quick to get in case of an emergency. Most "fixed" accounts in Thailand you can take out the money early but you lose any interest. They are fixed as a term but not as in a fixed account in most western countries. That is why Immigration (at least in Jomtien) accept them. However you are right in that there are not that many accounts paying even the base rate of 1.75% 1 Link to comment Share on other sites More sharing options...
Ks45672 Posted February 3, 2019 Share Posted February 3, 2019 5 hours ago, impulse said: Because I can't turn back the clock and buy it in 2011. And I don't think you can, either. Today, it's not a good bet. Could it go to $50,000 as some pundits seem to predict? Sure. But there's a huge difference in the downside between your $3 bitcoin that hit $20,000 and today's $3,000 bitcoin that may (?) go to $50K. And not nearly as much upside relative to the risk of it going tits up. Like Enron did. Edit: BTW, if I want to buy something worth $100 with Bitcoin, how much will that blockchain transaction cost to implement today? In 5 more years? Apple, Google, amazon, Uber,Airbnb, Facebook were all pennies in the start and they all chanced Bill Gates was unable to convince his best friend Warren buffet to invest in Microsoft in 1994 There are no 100% risk free investments and everyone here should be able to make to their own mind what their risk/reward tolerance is and act accordingly I would not like a portfolio that didn't include some exposure to cryptocurrency but I'm not here to sell it anyone else You pays your money and you takes your chance... 1 Link to comment Share on other sites More sharing options...
impulse Posted February 3, 2019 Share Posted February 3, 2019 (edited) 8 hours ago, Ks45672 said: Apple, Google, amazon, Uber,Airbnb, Facebook were all pennies in the start and they all chanced Bill Gates was unable to convince his best friend Warren buffet to invest in Microsoft in 1994 There are no 100% risk free investments and everyone here should be able to make to their own mind what their risk/reward tolerance is and act accordingly I would not like a portfolio that didn't include some exposure to cryptocurrency but I'm not here to sell it anyone else You pays your money and you takes your chance... The difference being, of course, that Google, Microsoft and Amazon generate revenue and earnings and throw off cash. Bitcoin? Nope Gold can be made into jewelry, used to plate electrical conductors, and a myriad of other uses. Bitcoin? Nope. Real estate and land, the same. Many uses other than just watching the charts. Bitcoin? Nope Hell, even a Forex investment throws off interest from the bank where you keep your Somali Simolians. Bitcoin? Nope. Bitcoin reminds me of the emperor's new clothes... They looked great to some. Not so great to others. Find me a crypto based on something tangible, and the game changes. Edited February 3, 2019 by impulse 1 1 Link to comment Share on other sites More sharing options...
Airalee Posted February 3, 2019 Share Posted February 3, 2019 As a proponent of owning gold....Bullion (Pamp, GAE, Buffalos etc)...not GLD etc, I’ll chime in with my opinion. I look at the ฿800k as my seed corn. Something I need to continue my existence here in the future. I don’t speculate with my seed corn. To me, gold is not an investment but rather a speculative asset. You can even call it insurance if you wish to parrot the kitco doomers. I sure hope I never have to cash in that policy. 1 Link to comment Share on other sites More sharing options...
Ks45672 Posted February 3, 2019 Share Posted February 3, 2019 6 hours ago, impulse said: The difference being, of course, that Google, Microsoft and Amazon generate revenue and earnings and throw off cash. Bitcoin? Nope Gold can be made into jewelry, used to plate electrical conductors, and a myriad of other uses. Bitcoin? Nope. Real estate and land, the same. Many uses other than just watching the charts. Bitcoin? Nope Hell, even a Forex investment throws off interest from the bank where you keep your Somali Simolians. Bitcoin? Nope. Bitcoin reminds me of the emperor's new clothes... They looked great to some. Not so great to others. Find me a crypto based on something tangible, and the game changes. I am not here to sell you anything because i don't care who buys it or who doesn't I believe Cryptocurrency and tokenisation is a game changer but it's still in its infancy so it could still fail as for use case, please see : Xrp is the 3rd largest crypto project and it can and will replace the swift network for banks, only the currency exchange and transfer costs a tiny fraction of a penny (something like 1/10,000th) and they've already got over 200+ major financial institutions using it (average tx speed is between 4 and 7 seconds vs a few days and $35 fee + for conventional banking) Its all about the risk tolerance if you want to get in this early, if you can't afford it then definitely don't, leave your money in the bank making ~1% a year (that's just not for me, personally) I wouldn't advice anyone who can't afford to lose a penny to invest in anything risky 1 Link to comment Share on other sites More sharing options...
Ahab Posted February 3, 2019 Share Posted February 3, 2019 On 2/1/2019 at 1:04 AM, NCC1701A said: It is interesting that the chart stops hallway through 2017, the chart from 2017 to the present would not help the argument that bitcoin is a good long (or short) term investment. Link to comment Share on other sites More sharing options...
Lacessit Posted February 3, 2019 Share Posted February 3, 2019 On 2/1/2019 at 12:48 AM, 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. You are the OP that was boasting of how clever you were putting your money into gold? I'm not calling it investing, as it's a currency hedge. Is there some reason your OP has more credibility? Link to comment Share on other sites More sharing options...
Ks45672 Posted February 3, 2019 Share Posted February 3, 2019 1 hour ago, Lacessit said: You are the OP that was boasting of how clever you were putting your money into gold? I'm not calling it investing, as it's a currency hedge. Is there some reason your OP has more credibility? Typically, gold has always been a terrible investment A store of value vs paper money is the only thing it looks good against But the futures is digital guys, whether we like it or not, cryptocurrencys like bitcoin are infinitely divisible, think about gold created in a digital age with limited scarcity predictable supply rate and as easy to send as an email, then you have bitcoin Basically, gold 2.0 Link to comment Share on other sites More sharing options...
SCOTT FITZGERSLD Posted February 6, 2019 Share Posted February 6, 2019 the 800K should represent your annual living expenses. makes around 66,600 baht a month, the number of the beast. if you keep them in regular saving account in thai bank, you should make around 1.6% a year (no fixed deposit, so all funds are liquid). but your main risk might be exchange rate, in case the baht will be devalued, which can happan surprisingly, and can wipe off 10-20-30% of your 800K baht worth in your origin currency. so don't be confused between investments in gold or other things, and the 800K annual living expenses. Link to comment Share on other sites More sharing options...
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