Good Advice, Bad Advice

[saengd]

After nearly twenty years here I keep reading the same old advice from lots of people, here's my experience of some of it:

 

Don’t invest in Thailand or bring money into the country: For me personally this was the worst advice ever. I bought funds into Thailand years ago which increased substantially in value as the exchange rates plummeted plus I became immune to exchange rate fluctuations and concerns about whether I could afford to extend my visa. Sure I could have taken those funds and invested overseas but I didn’t, I brought them into Thailand and it all worked out really well.

 

Never Buy Property Here: Thankfully I did, I bought and sold about four times and never lost money but I did live effectively rent free for years and years. We’ve had our most current house for ten years,  and we love our garden, watching it develop is the source of much pleasure and pride. We only paid 3 million and since the area around us has developed substantially we’re told it’s now worth a lot more. But who cares what it’s worth, it’s rent free living that highly pleasurable, if my spouse of the past twenty years suddenly decided she wanted a younger model partner she could have the house with my blessing.

 

Don’t Trust Thai Banks: I have a great relationship with my bank, they’ve never made a single banking error relating to my account, they gave me a credit card and internet banking and I trust them implicitly. I leave Thailand for months at a time and when I come back my money is still there, amazing!

 

Police: I’ve been lucky, I have never had a single bad experience with them. My house was burgled and they came out and did their police thing, they fine me when I’m speeding but never solicit back handers, they never stop me without cause. I don’t disbelieve the stories I hear about them, it’s just that those things never happen to me and I always wonder why that is. Motor bikes have run into my car a couple of times and the police always found in my favour, they have always treated me fairly. 

 

Unfair Dual Pricing: If I want to visit a place where the cost of my admission is higher than my wife’s I ask myself whether I think the cost is worthwhile and whether I want to pay that much. If the answer is yes I pay and I go forward, if the answer is no then I don’t visit. But what I never do is raise my blood pressure and go straight to the argument that my admission price should be the same as my wife, it isn’t and that’s a fact that I can’t change, why worry about that and why penalise myself by not visiting a place I wanted to visit.

 

Don't Buy Used Vehicles: My spouse claims to know about mechanical things but doesn’t really, never buy a used vehicle in Thailand, always buy new, previous local owners are not to be trusted on this point.

[OneMoreFarang]

Maybe I sum this up: Don't do stupid things without thinking. And don't do anything that sounds too good to be true.

 

[baansgr]

The first paragraph has rung true for many, however thats due more to luck than investment sense and likewise people importing funds now could be in the opposite position of loosing half if the baht weakens and foreign currencies strengthen.

Rent is always wasted money and owning your own home is always better even if you don't own it outright due to laws here but tens of thousands of people have lost their life savings by doing this.

[Matzzon]

19 minutes ago, OneMoreFarang said:

Maybe I sum this up: Don't do stupid things without thinking. And don't do anything that sounds too good to be true.

 

Do you mean it would be stupid to ask him for his license plate for the next lottery. I mean, when he was so lucky with the police and all that. You know as well as me. It´s a sure winner. The millions are finally here. 

[FarFlungFalang]

Yep pretty much my story except we bought a secondhand car ten years ago which is still going strong and survived two prangs.

[FarFlungFalang]

15 minutes ago, Matzzon said:

Do you mean it would be stupid to ask him for his license plate for the next lottery. I mean, when he was so lucky with the police and all that. You know as well as me. It´s a sure winner. The millions are finally here. 

Haha the missus won 40,000 baht from the number plate of our motorbike when we brought it up from Bangers twenty years ago.

[geronimo]

when looking for advice re living in Thailand, take a good look at the one who is offering it!

[saengd]

55 minutes ago, baansgr said:

The first paragraph has rung true for many, however thats due more to luck than investment sense and likewise people importing funds now could be in the opposite position of loosing half if the baht weakens and foreign currencies strengthen.

Rent is always wasted money and owning your own home is always better even if you don't own it outright due to laws here but tens of thousands of people have lost their life savings by doing this.

Sure, two years ago we were 95/5, baht/Pound, today we're 60/40, people have to adjust their position based on events and their needs.