Making Money In Thailand ?

[johnson36]

Ive been married to my Thai wife 3 years, she has lived with me in England for over 4 years.

I am fed up with the weather here and am hoping to move out to Bangkok in the next year.

Ive thought about renting out my house in the UK and renting in Bkk but what I will get in rent for my house after paying a % to an agent and paying buildings insurance etc just will not be worth the hassle.

I think the best idea is to sell it. In doing this I will be able to bank £150000 and at the moment it is possible to get 6.25% interest in an intant access internet account this would give me about £781 ( 52000 baht ) per month. I am looking to rent a cheap house on the outskirts of Bkk in areas such as Nonthaburi / Taliang Chan / Bang Na (open to ideas)

I am quite a good business minded person so I would be looking for other ways to make some extra cash without using all my capital. I may consider buying a couple of condos to renovate and rent out. Ive looked on some of the Thai bank website's at some of the repossed condos and there seems some cheap deals. I wouldnt be rushing into this though. In England I sell lots of things on Ebay so I would be bringing my laptop along and hoping to find some products to sell from Thailand.

Am I been unrealistic to think we can live on this ?

There must be people that have made it in Thailand with far less than £150000 and 52000 baht per month in interest.

Anybody got any ideas as to what sort of business I could get involved with some (not all) of my hard earned money.

PS: im not a stupid farang, im not interested in owning a bar or guest house, please dont try and sell me yours

Edited July 15, 2007 by johnson36

[Upcountry]

johnson36,

Looks like a good return on your property, congratulations. I didn't do nearly as well as you, but I sold my house in the US before moving here with my wife. Better to get a profit on the property than to have the headache of being a remote landlord. Where do you get 6.25% interest? Would you mind sharing info on that? I'm suffering right now from the US dollar slump relative to the baht (the big risk in earing in one currency, spending in another), so getting income in baht is probably better than in a foreign currency. As a business minded person, you'll probably do well with investments here if you bring some of your money in.

~50k baht a month in interest income is not bad. Farang teachers here usually make less than 30k. Whether you'll be happy on that income depends on your needs and desires. As I hope you have surmised from searching this forum to find similar threads, basic foods, clothes, etc., are still inexpensive. But imported items are continuing to get more expensive. Cars are much more expensive here. Electricity, especially if you rent or use a lot of it for air conditioning, and so on, can dig into your income.

If you buy property and house, or build one, via your wife, the location will impact the cost of course. Prices are going up, but some say the real estate market is going to drop a bit soon. Pay careful attention flooding issues where ever you look.

Well, that's my two satang. Good luck with your plans.

Edited July 16, 2007 by Upcountry

[johnson36]

Sainsburys Internet Saver pays 6% on all balances from £1 up, and this will increase to 6.25% on 1 August 2007.

http://www.sainsburysbank.co.uk/savings/sa...PAGISAVMAIN0002

Northern Rock's Silver Savings Online account offers 6.1% from £1 if you are over 50. The interst rate is guaranteed to be no lower than the UK Bank Base Rate until 31 Jan 2010 and there are no restrictions on withdrawing your money but you can only manage the account online.

http://www.northernrock.co.uk/savings/silver-savings-

online/://http://www.northernrock.co.uk/savin...avings-

online/://http://www.northernrock.co.uk/savin...avings-

online/://http://www.northernrock.co.uk/savin...avings-

online/

Icesave* pays 5.95% currently (scheduled to increase to 6.2% on 13 July 2007), and is guaranteeing to beat the base rate by at least 0.25% until October 2009, making it a top guaranteed account.

http://www.icesave.co.uk/

This website below is great.

http://www.moneysavingexpert.com/savings/s...s-best-interest

There are also some monthly saver accounts that pay up to 8%

http://www.lloydstsb.com/savings/monthly_saver.asp

Edited July 16, 2007 by johnson36

[Heng]

I think folks would be able to give you a more accurate opinion if they could compare your current rental return... as sometimes a few points isn't worth it in the big picture. Now this might not apply to you, but I know for many foreigners here, it's healthier -if it's an either/or decision- for them to have their income streams abroad in real estate rental income as opposed to a more liquid fixed income institutional investment. It'll make you somewhat less prone to do silly things with it in your transition period in Thailand. And from what I've seen from more than a few foreign friends and acquaintences... no one ever thinks they are going to do anything that they themselves will call incredibly stupid before they move here and more likely not until they are actually neck deep in whatever hole they have dug for themselves.

[johnson36]

I think folks would be able to give you a more accurate opinion if they could compare your current rental return... as sometimes a few points isn't worth it in the big picture. Now this might not apply to you, but I know for many foreigners here, it's healthier -if it's an either/or decision- for them to have their income streams abroad in real estate rental income as opposed to a more liquid fixed income institutional investment. It'll make you somewhat less prone to do silly things with it in your transition period in Thailand. And from what I've seen from more than a few foreign friends and acquaintences... no one ever thinks they are going to do anything that they themselves will call incredibly stupid before they move here and more likely not until they are actually neck deep in whatever hole they have dug for themselves.

If I rent the house out I would get about £550 per month, an agent would want at least £50 (10%) from this, maybe 15%. I would still owe some money on the house and the payments are £220 per month. I would still need to pay for some buildings insurance £20+ per month and £18 for British Gas Maintenance Plans for boiler and radiators.

So I would be left with £242 (16000 baht ) per month if I dont have to pay for any repairs.

I think £780 (52000) interest sounds better.

Edited July 16, 2007 by johnson36

[Penkoprod]

Where a lot of people make a mistake is asking if they can live on X ammount per month.

Its not so much that that they should be looking at, but at the minimum ammount required by the Thai authorities in order for a person to be able to renew their Visa each time.

While, on the face of it, you appear to meet those requirements now (I'm assuming you are looking at a visa based on being married to a Thai national) you should base any decision on what you think you might need to meet those requirements in 5, 10, 15, 20 years time (depending on your age)

My own personal feelings on this are that whatever finances i have now will have to be at least 3 times that in a few years, based on the fact that the Baht is making slow and fairly steady progress back to its level pre '97, and that there will, no doubt be a ramping up of the financial requirements

I'm also a bit confused about the fact that you say you will have £150000 to bank from the sale of your house, which will give you £781 of interest income per month, but then, further into your post you say you have BOTH.

Penkoprod

Edited July 16, 2007 by Penkoprod

[Sir Burr]

Not enough. One medical emergency, or, other unforseen emergency would bring you down to a level of money you wouldn't be able to live on.

Keep the house and spend a few more years saving. Your house will also go up in value and your share in the equity will increase.

[sgunn65]

Interestingly enough I am in a very similar, albeit smaller, boat. I complete on my property next week and will be moving to Bkk in October. I only made half what you did (however I did that in 18 months so I am not complaining!!!). Like you I considered renting but after my mate rented his place to a lovely eastern european coouple only to find 13 Albanians in there the following week. I realised that even with an agent remote landlording is hard.

In London the property market feels like it did just before the last crash. There are speculative developments going up everywhere and flats in modern blocks are not valued at what people thought they would be. In the news last week there was, for the first time, talk of negative equity in some places. Now I know this may be local to areas in London but generally where London goes others follow.

First time buyers are so far out of the loop that things could go bang and crash. Of course I may be wrong and the next boom is coming but we seem to have hit a stamp duty ceiling where I live and all the agents are saying that one bedroomed flats will not go over £250K because of stamp duty so little in the way of growth expected in that market in the next couple of years.

With all this in mind I decided to sell and invest. You can get 6% easily but I went to a variety of brokers and they all recommended a good cautious fund which should yield 9-12%. The one I have gone for will re-invest anything over 6% and I can take the 6% yearly income on myinvestment. It has a small risk but a very small one.

I chose HSBC and if you invest over £50K you get free premier banking which makes alot of sense if your money is in the UK. They have opened a bank account for me in Bkk and transfers of money are free. I will keep all my monies from investment and business in UK banks and only transfer in what I need. As De Niro said in Heat, " Only have what you can walk away from in 15 minutes" or something like that. Anyway rules change and if we have to leave Bkk in a hurry I don't want to lose all my money too.

I will be living in one of the outer suburbs Sapansoong which is 15 minutes from the new airport and about 10 miles from the city centre. There is a BTS station being built only 2-3k away as part of the link to the airport so that should help transport. There is a bus that goes to Siam Square and the market is wonderful. It is not, though, ex pat heaven, as I have only ever seen one farang and he seems to have disapeared!!

You can rent a 2 bedroomed house a 3 minute walk from the market ad the bus stops for 5-6K Baht. Its very green and peaceful and in the evening we can drive into the city in less than 30 minutes (not in the rush hour unfortunately!!!)

Many people will tell you that you can't come to Los on less than 10 squillion pounds but frankly you can. There are so many threads that address it and so many people live here well on less than 52K. Medical emergencies can be avoided with insurance and as you will not be bar hopping and fining you can live a nice comfortable life on the money. Much better than the life you will live in UK.

I wish you all the best in your new adventure

Edited July 16, 2007 by sgunn65

[johnson36]

Not enough. One medical emergency, or, other unforseen emergency would bring you down to a level of money you wouldn't be able to live on.

Keep the house and spend a few more years saving. Your house will also go up in value and your share in the equity will increase.

Surely I can buy some medical insurance, that covers that issue.

If I dont put my money in to a house then I can not loose my money there.

Im not interested in buying bars so I can not loose it there.

I dont need to bar fine ladies all the time as I am married and we go out together.

Is there any more ways I can loose my money ?

Edited July 16, 2007 by johnson36

[nev]

mate just do it,you only live once!you have asked questions here you already know the answer too.

52,000 baht a month is plenty,just remember tax implications,and look at manage funds and low cost index funds,you will get income and growth. good luck mate.

[johnson36]

Cheers nev

Your right you only live once, this life is not a rehearsal.

[Sir Burr]

Have you taken into account inflation at approximately 6% per annum. What if the baht gets stronger, you have exchange rate risk. How old are you, how long has this money got to last. What about flights back to the UK if you have family emergencies?

You really are leaving yourself no room for manoeveur.

Life is not a dress rehearsal is all very well and good, but, I advise you to be realistic and pragmatic.

Edited July 16, 2007 by Sir Burr

[Cobalt60]

The one thing I would throw in to the mix is, if you rent, you will have an escape route if things go wrong, evict your tenants etc, bridges not fully burnt, back to the good old NHSS you have paid into for so long.

Edited July 16, 2007 by Cobalt60

[johnson36]

The one thing I would throw in to the mix is, if you rent, you will have an escape route if things go wrong, evict your tenants etc, bridges not fully burnt, back to the good old NHSS you have paid into for so long.

Renting out my house doesnt give me enough money to even start to live in Thailand.

Dont forget the 52000 baht I could get from investing 150K in a no risk UK bank is only a start.

In England I am selling on Ebay every week I intend to find some products to sell from Thailand as do alot of other people living there. Ive no idea what to sell yet but I know I will find something.

Just 1 of the things I sell now are second hand German motorhomes which I buy in Germany and sell on UK Ebay, this wasnt an easy business to start from scratch but ive been doing it 7 years now and never loose money.

This brings me to a question I want to ask: I know there are car auctions in BKK (I know someone thats been and bought a car), has anyone on here bought a car there ? has anyone had a go at selling on to other farangs for a profit ? does it happen in Thailand as it does in England ? Ive been in the car trade and now motorhome business for 20 years.

[ludosiam]

Worst case scenario is that you can loose another 10% or so on the exchange rate, but as some posters say: you only live once. So for me, 50k a month well enough to live on if you're not getting too fancy and you still have plenty of free time to earn a few bucks. Selling goods from Thailand via Ebay could work, but only small items as the transport is rather costly back to UK. I've tried ceramic stuff, 1 Container but did not work very well at that time, transportation costs were just too high.

[stament]

Ive been married to my Thai wife 3 years, she has lived with me in England for over 4 years.

I am fed up with the weather here and am hoping to move out to Bangkok in the next year.

Ive thought about renting out my house in the UK and renting in Bkk but what I will get in rent for my house after paying a % to an agent and paying buildings insurance etc just will not be worth the hassle.

I think the best idea is to sell it. In doing this I will be able to bank £150000 and at the moment it is possible to get 6.25% interest in an intant access internet account this would give me about £781 ( 52000 baht ) per month. I am looking to rent a cheap house on the outskirts of Bkk in areas such as Nonthaburi / Taliang Chan / Bang Na (open to ideas)

I am quite a good business minded person so I would be looking for other ways to make some extra cash without using all my capital. I may consider buying a couple of condos to renovate and rent out. Ive looked on some of the Thai bank website's at some of the repossed condos and there seems some cheap deals. I wouldnt be rushing into this though. In England I sell lots of things on Ebay so I would be bringing my laptop along and hoping to find some products to sell from Thailand.

Am I been unrealistic to think we can live on this ?

There must be people that have made it in Thailand with far less than £150000 and 52000 baht per month in interest.

Anybody got any ideas as to what sort of business I could get involved with some (not all) of my hard earned money.

PS: im not a stupid farang, im not interested in owning a bar or guest house, please dont try and sell me yours

Very interesting topic. However, you've neglected to take tax into account in calculating your £781 per month. The normal deduction at source (buy the banks) is 20% and 40% for a higher tax rate payer.

You automatically get a tax allowance of £5,225 and the next £2,330 is taxed at 10%. Anything above this for savings income is taxed at 20% unless you're a higher rate tax payer and I'm assuming you won't be (unless you've got other undeclared income).

6.25% of 150,000 = 9375

so 5225 = tax 0

2330 @ 10% tax = 233

remaining 1820 @ 20% tax = 364

total received = 9375 - (233+364) = 8778

£8778 pa = £731.50 per month, £50 less than you calculated.

[stament]

With all this in mind I decided to sell and invest. You can get 6% easily but I went to a variety of brokers and they all recommended a good cautious fund which should yield 9-12%. The one I have gone for will re-invest anything over 6% and I can take the 6% yearly income on myinvestment. It has a small risk but a very small one.

Would be interested in any info you could provide on the fund.

Thanks

[Heng]

I think folks would be able to give you a more accurate opinion if they could compare your current rental return... as sometimes a few points isn't worth it in the big picture. Now this might not apply to you, but I know for many foreigners here, it's healthier -if it's an either/or decision- for them to have their income streams abroad in real estate rental income as opposed to a more liquid fixed income institutional investment. It'll make you somewhat less prone to do silly things with it in your transition period in Thailand. And from what I've seen from more than a few foreign friends and acquaintences... no one ever thinks they are going to do anything that they themselves will call incredibly stupid before they move here and more likely not until they are actually neck deep in whatever hole they have dug for themselves.

If I rent the house out I would get about £550 per month, an agent would want at least £50 (10%) from this, maybe 15%. I would still owe some money on the house and the payments are £220 per month. I would still need to pay for some buildings insurance £20+ per month and £18 for British Gas Maintenance Plans for boiler and radiators.

So I would be left with £242 (16000 baht ) per month if I dont have to pay for any repairs.

I think £780 (52000) interest sounds better.

It "sounds" better indeed as long as you can resist the temptation not to do anything silly with the principle (and that's most certainly not limited to buying bars and guest houses). Perhaps you can. I'm under the impression though that this is your only major asset and I'm from the school of thought that selling your first or only major asset is not something one does. It sounds like you haven't even finished building a foundation in life and are looking to try to start building one somewhere else. My family is Thai, and we didn't even consider retiring from the US until we had multiple rental income (with 100% equity) AND interest streams just from the US side... even though we already had Thai income streams and owned homes over here. And that's considering that we didn't even have to worry about the laws changing that might not allow us to live here... foreigners don't have that luxury.

Of course, just my opinion... but I don't think you're financially ready to start a life here but as mentioned by other's, to each his/her own, you only live once and all that. If you could somehow do it and still maintain your home back home, I'd say go for it. You keep your backup plan in place and you can always just leave. Otherwise you're looking at going back at age XX if the economic or legal situation here becomes unbearable, with no home, having to rent and build up credit after not working there for years before you can even own a home again...

[sgunn65]

If it all goes wrong in 5 years you will have to go home with only £150,000 in the bank!!! Boy thats tough! So far I have heard the same thing over and over "Don't risk!" "Be as clever as me".

Unfortunately we are not all lucky (sorry prudent and hard working) enough to want to follow a dream and live the one life we get with several homes (all paid for) , income streams, rivers and oceans coming out of our ears and at least 12 profitable businesses.

Some of us are working in average jobs, offering a future that is not all that exciting and may have lost most of our equity in messy divorces. So 52K is not super rich but he could have a good time on that money. A better time than sitting on his equity trying to get as old and wise as some of the holier than thou posters who seem to want to keep their little secret country theirs and theirs alone.

I am all for offering sage and cautionary advice to some of the beer monsters who have the idea that they can come on a tourist visa and get a job paying masses. But sometimes the difference between santimonious smugness and sound financial advice gets lost.

I say to the OP go live your dream,for tomorrow you may die! But if you don't, then enjoy your new life, love your wife and grow happily old together. You can be sure that she won't think its not enough and no-one she knows is likely to be living on 52K a month.

[PCA]

If it all goes wrong in 5 years you will have to go home with only £150,000 in the bank!!! Boy thats tough! So far I have heard the same thing over and over "Don't risk!" "Be as clever as me".

Unfortunately we are not all lucky (sorry prudent and hard working) enough to want to follow a dream and live the one life we get with several homes (all paid for) , income streams, rivers and oceans coming out of our ears and at least 12 profitable businesses.

Some of us are working in average jobs, offering a future that is not all that exciting and may have lost most of our equity in messy divorces. So 52K is not super rich but he could have a good time on that money. A better time than sitting on his equity trying to get as old and wise as some of the holier than thou posters who seem to want to keep their little secret country theirs and theirs alone.

I am all for offering sage and cautionary advice to some of the beer monsters who have the idea that they can come on a tourist visa and get a job paying masses. But sometimes the difference between santimonious smugness and sound financial advice gets lost.

I say to the OP go live your dream,for tomorrow you may die! But if you don't, then enjoy your new life, love your wife and grow happily old together. You can be sure that she won't think its not enough and no-one she knows is likely to be living on 52K a month.

yes I agree. Nothing to lose here if you dont bring all your eggs and invest in a rush. Do it, from dreaming alone nothing will happen.

[Heng]

Any plans for kids? You might find that 52k/$1700 a month a stretch if you have them.

But yes, as others have said... you can have a "good time" for 52,000 Baht a month. In fact you can have a *really* good time if you put your mind to spending that in 2-3 days.

It'll also take roughly 2 months of interest income to fly a family of 4 home to the UK -coach class- as well. And if you decide to do that, one of the kids has to sit out and not go to school this next term maybe.

I'm not trying to be a naysayer... it's just that growing one's income over here isn't terribly easy for foreigners (although most seem to think it'll be a piece of cake before they get here). There are plenty that do, but they are indeed a rare breed.

[sgunn65]

Any plans for kids? You might find that 52k/$1700 a month a stretch if you have them.

But yes, as others have said... you can have a "good time" for 52,000 Baht a month. In fact you can have a *really* good time if you put your mind to spending that in 2-3 days.

It'll also take roughly 2 months of interest income to fly a family of 4 home to the UK -coach class- as well. And if you decide to do that, one of the kids has to sit out and not go to school this next term maybe.

I'm not trying to be a naysayer... it's just that growing one's income over here isn't terribly easy for foreigners (although most seem to think it'll be a piece of cake before they get here). There are plenty that do, but they are indeed a rare breed.

This is exactly the type of post that I am on about. Has the OP mentioned kids? No. But hey lets put him down for the pauper he is. I can show you a good time for 52K in 2-3 days because I earn 500K plus a month. Lucky you.

I suppose I am just not all that comfortable with this idea of shoving your wealth and success in other peoples faces. We got over that in the UK in the 80's. In fact it is considered uncouth to display wealth here, but then I am not in Los yet. Maybe I will learn the error of my ways and stop thinking that a man can live in contentment with their partner on a wage that an average middle class thai couple would die for. And I dont mean an Isaan farm labourer. I mean a bank manager or a couple of teachers and I do know as all my extended family are bank managers, teachers or lawyers (and there are a lot of them)!. Somehow they manage to send their kids to school or University and eat!!!! They live in nice houses, drive nice cars, go to the beach regularly and have foreign holidays all on less than 52K.

What is it that they know that we don't?

Come on people!! There is too much negativity in the world. Instead of telling him why he can't, use your insider knowledge and show him how he can!

IF YOU BELIEVE YOU CAN OR IF YOU BELEIVE YOU CAN'T, YOU ARE RIGHT!!!!

[sonicdragon]

Ive been married to my Thai wife 3 years, she has lived with me in England for over 4 years.

I am fed up with the weather here and am hoping to move out to Bangkok in the next year.

Ive thought about renting out my house in the UK and renting in Bkk but what I will get in rent for my house after paying a % to an agent and paying buildings insurance etc just will not be worth the hassle.

I think the best idea is to sell it. In doing this I will be able to bank £150000 and at the moment it is possible to get 6.25% interest in an intant access internet account this would give me about £781 ( 52000 baht ) per month. I am looking to rent a cheap house on the outskirts of Bkk in areas such as Nonthaburi / Taliang Chan / Bang Na (open to ideas)

I am quite a good business minded person so I would be looking for other ways to make some extra cash without using all my capital. I may consider buying a couple of condos to renovate and rent out. Ive looked on some of the Thai bank website's at some of the repossed condos and there seems some cheap deals. I wouldnt be rushing into this though. In England I sell lots of things on Ebay so I would be bringing my laptop along and hoping to find some products to sell from Thailand.

Am I been unrealistic to think we can live on this ?

There must be people that have made it in Thailand with far less than £150000 and 52000 baht per month in interest.

Anybody got any ideas as to what sort of business I could get involved with some (not all) of my hard earned money.

PS: im not a stupid farang, im not interested in owning a bar or guest house, please dont try and sell me yours

Very interesting topic. However, you've neglected to take tax into account in calculating your £781 per month. The normal deduction at source (buy the banks) is 20% and 40% for a higher tax rate payer.

You automatically get a tax allowance of £5,225 and the next £2,330 is taxed at 10%. Anything above this for savings income is taxed at 20% unless you're a higher rate tax payer and I'm assuming you won't be (unless you've got other undeclared income).

6.25% of 150,000 = 9375

so 5225 = tax 0

2330 @ 10% tax = 233

remaining 1820 @ 20% tax = 364

total received = 9375 - (233+364) = 8778

£8778 pa = £731.50 per month, £50 less than you calculated.

Please, if non-resident in the UK there will be no liability to tax on bank interest.

I don't have anything to add to the previous comments, but I would defnitely emphasize the exchange rate risk, and also not to underestimate inflation (which is always under-reported by all governments thanks to clever statisticians and the absurdity of economists).

Another good website to check savings rates is this one: http://www.moneysupermarket.com/savings/

[endure]

Ive been married to my Thai wife 3 years, she has lived with me in England for over 4 years.

I am fed up with the weather here and am hoping to move out to Bangkok in the next year.

Ive thought about renting out my house in the UK and renting in Bkk but what I will get in rent for my house after paying a % to an agent and paying buildings insurance etc just will not be worth the hassle.

I think the best idea is to sell it. In doing this I will be able to bank £150000 and at the moment it is possible to get 6.25% interest in an intant access internet account this would give me about £781 ( 52000 baht ) per month. I am looking to rent a cheap house on the outskirts of Bkk in areas such as Nonthaburi / Taliang Chan / Bang Na (open to ideas)

I am quite a good business minded person so I would be looking for other ways to make some extra cash without using all my capital. I may consider buying a couple of condos to renovate and rent out. Ive looked on some of the Thai bank website's at some of the repossed condos and there seems some cheap deals. I wouldnt be rushing into this though. In England I sell lots of things on Ebay so I would be bringing my laptop along and hoping to find some products to sell from Thailand.

Am I been unrealistic to think we can live on this ?

There must be people that have made it in Thailand with far less than £150000 and 52000 baht per month in interest.

Anybody got any ideas as to what sort of business I could get involved with some (not all) of my hard earned money.

PS: im not a stupid farang, im not interested in owning a bar or guest house, please dont try and sell me yours

Very interesting topic. However, you've neglected to take tax into account in calculating your £781 per month. The normal deduction at source (buy the banks) is 20% and 40% for a higher tax rate payer.

You automatically get a tax allowance of £5,225 and the next £2,330 is taxed at 10%. Anything above this for savings income is taxed at 20% unless you're a higher rate tax payer and I'm assuming you won't be (unless you've got other undeclared income).

6.25% of 150,000 = 9375

so 5225 = tax 0

2330 @ 10% tax = 233

remaining 1820 @ 20% tax = 364

total received = 9375 - (233+364) = 8778

£8778 pa = £731.50 per month, £50 less than you calculated.

Please, if non-resident in the UK there will be no liability to tax on bank interest.

There will be liability to interest that's generated by a UK bank account. If the OP wants to avoid tax liability altogether he'll have to move his money offshore.

[Joe Walshe]

Many people on TV forum ask about feasilbility of moving to Thailand and expand on their financil position. The responses usually seem to be ;

1. Be very careful, play safe, wait till you have all the angles covered.

or

2. You get one chance at life, have a go.

I'm not a Budhist but i believe they encouragea middle way.

I travelled the world in my most productive years and spent many yeras in Thailand. I then returned to Ireland to make sufficent funds to return to Thaialnd to live. Will I ever have ENOUGH money ; no. Enough is never enough. Will I ever have PEACE AND SECURITY; no. No such thing as security. Would I have been secure if I had got a good job after college and got an early mortgage etc. maybe, but life's a risk. The safe option is not always the attractive one. Soemtimes we need to challeneg ourselves to bring out the best in us. I could have got a civil service job, normal house, counted the years till retirement and then waited for detah. Or I could have just as easily had a medical condition or similar catastrophe that would have ruined. excuse the ramblings but the POINT IS you could end up in serious shit trying to have a secure life in the UK. Who is to say you won't get ill there and messed about by the NHS. WHat if/when the UK property market collapses and you lose your job. Inflation spirals and your suddenly feeling very poor. I could go on but I'll leave that to others. Joe

[Heng]

Any plans for kids? You might find that 52k/$1700 a month a stretch if you have them.

But yes, as others have said... you can have a "good time" for 52,000 Baht a month. In fact you can have a *really* good time if you put your mind to spending that in 2-3 days.

It'll also take roughly 2 months of interest income to fly a family of 4 home to the UK -coach class- as well. And if you decide to do that, one of the kids has to sit out and not go to school this next term maybe.

I'm not trying to be a naysayer... it's just that growing one's income over here isn't terribly easy for foreigners (although most seem to think it'll be a piece of cake before they get here). There are plenty that do, but they are indeed a rare breed.

This is exactly the type of post that I am on about. Has the OP mentioned kids? No. But hey lets put him down for the pauper he is. I can show you a good time for 52K in 2-3 days because I earn 500K plus a month. Lucky you.

I suppose I am just not all that comfortable with this idea of shoving your wealth and success in other peoples faces. We got over that in the UK in the 80's. In fact it is considered uncouth to display wealth here, but then I am not in Los yet. Maybe I will learn the error of my ways and stop thinking that a man can live in contentment with their partner on a wage that an average middle class thai couple would die for. And I dont mean an Isaan farm labourer. I mean a bank manager or a couple of teachers and I do know as all my extended family are bank managers, teachers or lawyers (and there are a lot of them)!. Somehow they manage to send their kids to school or University and eat!!!! They live in nice houses, drive nice cars, go to the beach regularly and have foreign holidays all on less than 52K.

What is it that they know that we don't?

Come on people!! There is too much negativity in the world. Instead of telling him why he can't, use your insider knowledge and show him how he can!

IF YOU BELIEVE YOU CAN OR IF YOU BELEIVE YOU CAN'T, YOU ARE RIGHT!!!!

Lolz. Just because he hasn't mentioned kids doesn't mean they shouldn't be discussed. For an awful lot of folks, it's just the natural course of things. He hasn't mentioned that he is impotent or has had a vasectomy either. And hello... I haven't mentioned my income or any kind of exact figures or put him down at all... sounds like you have a personal issue sgunn65.

And as for what "they" (locals) know that you don't is that they don't have to worry about not being able to legally live in Thailand.

Also, discussing the possible downside is hardly being negative. I think I've provided a fairly balanced view to someone IMO (yes, my OPINION only, as mentioned more than a few times) who might not be ready... but perhaps could be if he just didn't burn his only bridge.

There are plenty who believe they can who DO and there are plenty who believe they can who CANNOT because they have made choices without planning (and there are more than a few examples on TVisa of foreigners who couldn't cut it here and are still posting/whinging about it years and years later whilst wallowing in their own bitterness).

Edited July 17, 2007 by Heng

[bendix]

quote]

This is exactly the type of post that I am on about. Has the OP mentioned kids? No. But hey lets put him down for the pauper he is. I can show you a good time for 52K in 2-3 days because I earn 500K plus a month. Lucky you.

I suppose I am just not all that comfortable with this idea of shoving your wealth and success in other peoples faces. We got over that in the UK in the 80's. In fact it is considered uncouth to display wealth here, but then I am not in Los yet. Maybe I will learn the error of my ways and stop thinking that a man can live in contentment with their partner on a wage that an average middle class thai couple would die for. And I dont mean an Isaan farm labourer. I mean a bank manager or a couple of teachers and I do know as all my extended family are bank managers, teachers or lawyers (and there are a lot of them)!. Somehow they manage to send their kids to school or University and eat!!!! They live in nice houses, drive nice cars, go to the beach regularly and have foreign holidays all on less than 52K.

Calm down, calm down. Noone is saying that it can't be done. Conversely, some posters are suggesting that there is a balance between the '###### it, let's just do it' mentality and the 'oh my god, it can never be achieved'.

Frankly, I err on the side of caution. That's just my nature. I happen to think (rightly or wrongly) that a guy marrying a Thai woman, leaving the relative security of his homeland to shift across the world should not only think about what can or cannot be achieved now, but what might happen in the future.

52k is only just enough, for example, to secure an O visa based on marriage. If the pound tanks like the dollar has, who's to say that will remain the case. What happens if interest rates plummet in the UK, reducing that income to below 40k a month? What happens if income thresholds for certain visas are increased? All these are possibilities. In fact, they are probabilities, as are (admittedly not planned yet) issues like kids, illnesses and family emergencies back home.

A responsible provider doesnt think so much about his ability to provide NOW; he should be thinking ten years hence.

Based on what I've read of the OP's comments so far, I think it very likely he will cut into his capital sum. The mere fact of setting up home costs money. If he's in the burbs, he'll likely want to buy a car. A nice tv. A holiday before he concentrates on living his life here.

There is nothing fundamentally wrong with being financially prudent.

As for your question about the Thai middle class bank manager with nice house, car, holidays etc and how they do it? Easy. They are hocked up to the hilt, a facility which - while possible - is simply much harder for a foreigner, particularly one with relatively low liquidity.

[terryp]

All I would ask is ..Have you ever lived in Thailand ?...excluding hotels

As you have a Thai wife, you for sure know very little about costs in Thailand ..Especially in the BKK districts

Talk about making money with ebay or selling items such as Cars etc?????...that was 3 years ago..ebay is down to 2002 levels and sales are way off

So you have budgeted for the 2 million ltd company, work permit tax and social payments from your 52 grand….not to mention where you are getting the capitol to run any small venture..even if you work under the radar (which is very dangerous now)

Do you know that the Thai baht is almost 20% stronger against the pound in ONLY 1 year?

52 grand is getting less by the day with exchange rates..and believe me it is just enough for a basic life whatever you read on Thai Visa

Sadly when you burn bridges that’s exactly what you do…….Rent the house for 6 months come here for that 6 months then see how you feel

Oh you will soon get fed up with the weather here also...hot and sticky everyday

[bendix]

Well, i'm a little less bearish than terryp, but he makes some good points. I forgot the issue about costs of setting up a company. I think, though, he only needs one million capital for the workpermit if he's married, but 25% of it needs to be paid up so there goes 4000 quid straight away. Another 500-1000 for the simple process of setting up a company and getting the necessary documentation blah blah blah . . well, you get my point.

Oh, and great point on ebay. Come on! Seriously! That is so 2002. Have you seen the prices people are asking for Thai tat on ebay these days. It barely covers the cost of your trip to JJ to pick it up in the first place.

Believe me, there ain't many farang making a living from ebay in Thailand. That boat sailed long ago.

[ArranP]

Three options:

1. Stay invested in the UK property market, over the long term it will go up. Sell your current home and buy a cheaper property with a better return, for example terraces tend to make good returns. Typically a terrace in my area would cost £115,000 and give 500 pcm. Don't use agency, advertise yourself in the paper, if you buy the property in-town, you should have no problem keeping it tenanted. Leave a key with a local friend and use a local trades man you trust if you get a problem with the plumbing etc.

2. Cash account - capital guaranteed, you will have to use off-shore accounts and become non-uk resident to avoid uk tax.

6.50% Anglish Irish http://www.angloirishbank.co.im/personal-s...est-account.asp

3. Low-risk non-equity based property funds - capital not guaranteed however these funds invest directly in property so are not linked to the stock markets, but maybe affected by interest rate adjustments. However to avoid income tax use an offshore portfolio bond like Royal Skandia or Friends Provident. Go via an Indepentant Financial adviser before taking this route.

Ground Rent Income Account - historical trand steady 8-10%

Glanmore Commerical Property Fund - historicla steady 8-12%

It

Edited July 17, 2007 by ArranP