Thailand's surging baht shatters expat dreams of easy retirement

[DUNROAMIN]

8 hours ago, BestB said:

I remember aud hitting 21 about 10-12 years ago and it was painful but then it shot up to 33.

 

now aud hit 19.80 and it’s super painful, but I wonder what’s around the corner 

 

how much longer can baht sustain its strength and rising prices 

Not long, cant keep propping up Thai Barht on poor economy, I am predicting next year the balloon will burst, when Thailand will have to start paying borrowed money back to foreign investors.

[chaingman]

8 hours ago, RichardColeman said:

Sounds like another fool not planning his life properly with no escape route.

?..????

How to make God laugh..Tell him your plans for the future..

never gets old

[Fairynuff]

47 minutes ago, sanemax said:

UK Politics has nothing to do with the surging Baht .

The UK voting Brexit isnt the reason as to why the Baht is so strong  

No but it’s a major reason for the collapse of the GBP

[Carolina Reaper]

Does anybody here remember when 1 USD = 44+ THB?... and you could buy so much more for those baht, too... 1 baht Thai gold was like 5750... somewhere around 2001 or 2004, I think (can't remember for sure -- things got pretty good around both of those time periods). I remember buying 10 baht gold one afternoon with what I considered chump change back then.

 

Sigh. Those were the days. Sometimes I eat Mama now.

[Thaifriends]

Life is always not same or as expected. I am sure he would not have had similar lifestyle back in the UK with that pension when he was 55.

 

He did survive 2007 when USD was 29 but how much was Sterling? Lowest was 60 approx so it is now the Pound which is weaker.

 

We are likely to see closer to Euro or USD in next year. Main reason for Brits to cry in this forum.

 

[Greenside]

GBP to THB was reliably mid 60s during the four or five years I spent travelling in SEA in the early 2000s.  Retirement planning, when it came, pinned 50 as an average and low 40s as survivable which seemed conservative and prudent at the time.  Mid 30s + higher than expected inflation hurts, there's no getting away from it.  No-one can truly plan that far ahead these days.  Those expats who brought all their assets over here, while laughing now, might well have found themselves on the wrong side of a political party touting "all foreigners are devils and the cause of our domestic problems - cancel their visas NOW!"

 

Who knew, or knows?

[GalaxyMan]

3 hours ago, nickmondo said:

rubbish

Brexit has nothing to do with the strength of the baht.

Aus, USA, EU, they all doing same as Brexit?

Brexit has everything to do with the weakness of the pound, which has been overvalued for almost 50 years, riding on the reputation of a used-to-be empire. Other than banking, what exactly is it that the UK offers the world these days?

[sanemax]

12 hours ago, Fairynuff said:

No but it’s a major reason for the collapse of the GBP

Its more complex that that and there are other factors involved , but lets keep on topic, which is about the Bahts strength , rather than the Pounds weakness 

[emptypockets]

2 minutes ago, GalaxyMan said:

Brexit has everything to do with the weakness of the pound, which has been overvalued for almost 50 years, riding on the reputation of a used-to-be empire. Other than banking, what exactly is it that the UK offers the world these days?

Broke expat pensioners?

[Thaifriends]

4 minutes ago, Carolina Reaper said:

Does anybody here remember when 1 USD = 44+ THB?... and you could buy so much more for those baht, too... 1 baht Thai gold was like 5750... somewhere around 2001 or 2004, I think (can't remember for sure -- things got pretty good around both of those time periods). I remember buying 10 baht gold one afternoon with what I considered chump change back then.

 

Sigh. Those were the days. Sometimes I eat Mama now.

It was 2000

[Thaifriends]

2 minutes ago, sanemax said:

Its more complex that that and there are other factors involved , but lets keep on topic, which is about the Bahts strength , rather than the Pounds weakness 

 

Brits dont admit their weakness. Pound is in s.... hole

[Thaifriends]

4 minutes ago, emptypockets said:

Broke expat pensioners?

 

Sun hardly rise in the BE

[emptypockets]

2 minutes ago, Thaifriends said:

 

Brits dont admit their weakness. Pound is in s.... hole

The most honest post on this thread.

[rumak]

News Flash !!   This just in from Somchai Australia , " what going on here ?  No fair.  aussie bad hate thai people .  Me family come here ten year ago.  work too hard.  save many dollar.   I want house when come

and house 200k dollar.   Now house 500k dollar !   Why house so expensive .  Surging price make me no have house.   Govt very bad "

[sanemax]

12 hours ago, Thaifriends said:

 

Brits dont admit their weakness. Pound is in s.... hole

What are you going on about ?

All Brits have accepted that the Pound is weak at the moment 

[sanemax]

12 hours ago, emptypockets said:

The most honest post on this thread.

What Brits havent admitted that the Pound is weak ?

His post wasnt honest at all, it was completely wrong 

[Carolina Reaper]

5 minutes ago, Thaifriends said:

It was 2000

Ahhh, ok. What a difference 19 years makes. Now, as an older fart, I have less income, lousier exchange rate, less buying power (in any currency), and less hair.

[Montnoveau]

2 minutes ago, emptypockets said:

Broke expat pensioners?

Premier League. Five of ten GP teams are UK based. Whisky.

[Thaifriends]

2 minutes ago, sanemax said:

What Brits havent admitted that the Pound is weak ?

His post wasnt honest at all, it was completely wrong 

Please read other threads and I answered to a person who dont accept that pound is now worth less. 

 

Its not an argument but fact ????

[Thaifriends]

2 minutes ago, Montnoveau said:

Premier League. Five of ten GP teams are UK based. Whisky.

 

Yes and at least 2 leading clubs owners are Arab???????????? and 1 Thai

[sanemax]

12 hours ago, Thaifriends said:

Please read other threads and I answered to a person who dont accept that pound is now worth less. 

 

Its not an argument but fact ????

In which thread is that in ? 

Which poster doesnt accept that the Pound is now worth less .

Even if there is one person that disagrees with that , you cannot state that ALL Brits think that  

 

[Bundooman]

8 hours ago, owl sees all said:

Just have to go with the flow. Adapt and adjust.

 

Spend more time on TVForum and less on the bar stool.

Limit the pussy to just one (or two) different ones a week.

Embrace Thai food; and have more stews.

Home teach the children.

Frequent the clothes markets; shorts just 50 Baht.

Walk to the corner shop; leave the m/c at home.

Turn off the air-con; get a fan or two.

Stop feeding the soi dogs.

Cut your own hair.

Pull your own teeth.

Stay away from medical premises.

Embrace cold water showering.

Tell the wife or g/f only one new pair of shoes a month.

Limit the wife or g/f to one new handbag a month.

Tell the wife or g/f; 100 Baht lottery limit.

 

Big savings to be had for the thrifty.

 

 

And while we're at it - give yourselves a good wank! that should save money & solve the problems?

Is that what you're saying?

[whitemouse]

5 hours ago, Number 6 said:

Seems like my monthly expenses over last 15 years run 20-25k. Doesn't include trips and holidays, dental, the odd checkup or insurance.

 

Learn how to cook or eat Thai food. Teach English if you have the education and ability. Just stop complaining and stop asking for special treatment.

 

Lots to criticize about quality of life but Thai staples being expensive is not one of them.

 

Most retirees probably do not spend more than 25.000 baht. After few years the girl scene becomes boring, and nothing else really costs much, certainly not food and coffee.

I love to read how our usual billionaire class posters keep bragging how they have  such diverse  portfolios (while the rest of us, lesser mortals, don't even know what portfolio means), and how they planned ahead a 50 percent drop of some currencies. Basically, bragging  about how their pension is few  hundred dollars more than next guy's

[whitemouse]

9 hours ago, quandow said:

Surged? A bit of an exaggeration, and if you planned your finances that close to the wire then som nom na.

 

 

This is not close to a wire. Sterling has lost half in 20 years, can you really blame a retired Brit for not seeing ahead 20 years? And don't say that you did, no one did, not even Mr. Bloomberg himself. All you have is bigger pension, don't confuse it with being financial genius.

[mosan]

4 hours ago, HHTel said:

Although I'm still 'afloat', I certainly didn't plan to live on half of what I was getting when I arrived.  The pound was getting 73 for a while and now it's half that coupled with rising prices.

 

For those (myself included) that bought a house then and if planning to leave should make a massive profit on the sale.  My house cost around 7 mill to build which was a little under 100,000 pounds.  If I get 10 mill for it now that converts to around 270,000 quid!

Of course that only works if you're planning to leave the country.

It would be really nice to see what you got for your 7 million Baht back then.  How about a follow up post with some pictures?

[owl sees all]

33 minutes ago, Bundooman said:

And while we're at it - give yourselves a good wank! that should save money & solve the problems?

Is that what you're saying?

Interesting interpretation there Bundooman.

 

I'm not saying that masturbation would solve all the problems, It could be considered if one had only 300 Baht and want both a <deleted> and a good few beers. Masturbation might then be the answer. On the other hand, if you could do without a couple of beers for one evening then get out there and get your pussy.

 

What I'm saying is; get wifeee or g/f to curtail her gambling on the 1st and 16th each month. And also to insist that she only treats herself to ONE hand bag and pair of shoes per month. The other idea is to stop her purchasing beauty products. Tell her - like I did - "all that beauty stuff is wasted on you". Watch her reaction 'cause you might have to add quickly "you are lovely as you are - you don't need them". Good saving there; if you can convince her.

 

Other reductions in expenditure (see post #18) are mostly in the hands of the farang 'imself. I had a tooth problem and I saved 500 Baht by self extraction; just this month. 

[Dr No]

Complete dribble of an article! Back to school you go ????

[Thaifriends]

34 minutes ago, sanemax said:

In which thread is that in ? 

Which poster doesnt accept that the Pound is now worth less .

Even if there is one person that disagrees with that , you cannot state that ALL Brits think that  

 

 

The bottom line is Pound Sterling is now expensive toilet paper compared to some 20-30 years back.

[sanemax]

12 hours ago, Thaifriends said:

 

The bottom line is Pound Sterling is now expensive toilet paper compared to some 20-30 years back.

About your previous post .

You didnt back it up .

You must have just been making things up , and it wasnt true .

Yes, the Pound is weak at the moment 

[Eloquent pilgrim]

9 hours ago, Time Traveller said:

Here's a tip to all the dimwitted retirees: 

Don't have your expenses in a different currency from your income.

 

It's funny that these people trusted their own governments empty promises, and now their pensions don't allow them to live luxurious retirements they imagined. Tell us again old man how your political party you vote for is so good.

I guess the irony of calling other people dimwitted is completely lost on you. How can anybody that has retired to another country from the one in which their pension or income is based, have their expenses in anything other than a different currency ... duh

 

And please tell us all, as to how any political party or government outside of Thailand can possibly have any influence on the artificially high value of the Thai Baht. The only benefit of this is to the large companies that import into Thailand, and the rich Thai’s that can now invest in overseas properties at substantial savings.

 

…. your knowledge of this subject, and of Thailand in general, appears to be remarkably limited ……did you actually read the article, nah, didn't think so.