Spending Money - Should I follow my Friends Advice ?

[bkk6060]

Who wants to die pinching baht?

3 million is a lot why can't they get a job?  Even one million is good they can open a business. 

[Sheryl]

38 minutes ago, J Branche said:

 theoretically last approximately 7.5 years at a 400,000 baht a year burn rate.

 

 

Which hardly meets his stated objective of providing for his wife after his death, even if she could manage to financial aspects (questionable). She's got another 25-40 years to go.

 

IMO he needs to tie up as much  money as he comfortably can (while still keeping aside what is needed for visa extensions) in an instrument which yields interest without risk of the capital and will yield a regular lifelong income (not a lump sum!) to his wife after his death.  Such instruments exist. Of course there is a trade off between risk and interest rates and an insured  product which does not risk the principal and provides a guaranteed level of pay out will be lower interest,  but still probably more than he is getting in a savings account. Most importantly it will protect his wife from:

• financial requests from  relatives
• bad/uninformed financial decisions (her own or others)
• outliving her resources (very, very likely otherwise)

 

 

 

 

[Caldera]

How about some compromise, spend a little more but still keep most of your money?

 

I don't know how old your daughter is and what you've invested in her education, but generally speaking, setting her up with a good education would be more beneficial than trying to leave her loads of cash.

[Sheryl]

6 hours ago, Caldera said:

How about some compromise, spend a little more but still keep most of your money?

 

I don't know how old your daughter is and what you've invested in her education, but generally speaking, setting her up with a good education would be more beneficial than trying to leave her loads of cash.

Per his prior posts daughter has graduated from university and has a job.

 

She is not (or should not be) the issue.

 

It is his middle aged wife with no degree and no work experience who is of concern.

 

The "loads of cash" is "loads" only if viewed in the very short term. It is not going to be sufficient to support his wife for the rest of her life though, if properly structured, could  make a good contribution towards that. Hopefully daughter would kick in the remainder.

 

As he currently has it set up, there is no mechanism to support his wife after he is gone, and it should be noted her lack of any work experience is due to his preference that she be a full-time home  maker. Should also note that she in any case will be retirement age in 10-20 years with no income at that time (other than the government's paltry 600 baht a month) unless he does some planning now.

[john donson]

you are from what country ?

 

as my home country, will steal at least 35% of that 3 million in inheritance tax

 

even living full time in Thailand for the last 10+ years, with no home address in home country, no services like social security, pension, child allocation...

 

disgusting to get stolen upon your death with zero services rendered...

 

but if you are from Uk, guess your family gets to pay nothing up to 325.000 pounds...

 

I was mistaken that as my children are (also) Thai and we all living here, that the THAI inheritance law would work, aka, pay no tax till 100.000.000 baht, guess in place to help the ultra wealthy in this country to keep their wealth

[proton]

How does 25k include medical over at his age? i'd like to know who with. My cash here is in krugnsri not a joint account but mrs can take money as out joint signature, so she would clear it out on death, although technically illegal.

[1FinickyOne]

1 hour ago, Will B Good said:

13th May 2026.......🥳

Friday - sure. 

[J Branche]

1 hour ago, Jenkins9039 said:

Don't do this, Corporate Debt, Government Debt result in loss of entire capital if corporate debt, and Gov debt is debasement of the currency.

 

76 yrs old, you'd be lucky to live another 10 yrs (well past life expectancy as it is... lets be honest...) so just enjoy the years remaining without any risk taking.

What are you on about high quality corporate debt is some of the safest investments you can make besides CD's which offer half the return.  You want to stagger the maturity dates over many years as the burn rate will start pulling down your asset value.  Set up transfer on death and a will in US.  

[Jenkins9039]

2 hours ago, J Branche said:

What are you on about high quality corporate debt is some of the safest investments you can make besides CD's which offer half the return.  You want to stagger the maturity dates over many years as the burn rate will start pulling down your asset value.  Set up transfer on death and a will in US.  

Because the corporate success is based on the premise that in future there will be demand for products/services.

 

If you haven't noticed, all the baby boomers are retiring and liquidating their investment portolios which does two things.

• They stop spending rampantly
• They knock down the value of the stocks which stops the corporations from leveraging for debt (inflated prices = higher corporate debt capabilities).

Governments have to debase the currencies, due to the 12-18 Trillion Refi Cycle this year and next coming.

Corporate have to Refinance at higher rates, or are already zombie companies.

 

Corporate debt was non-risky between 2016-2021, today it's Russian Roulette, demographics don't support growth in the economy in the west and a lot of money is coming off the table that underpins the entire corporate sector's 'paper-wealth position'. 

 

If you want to actually learn about macro economics, finance suggest you stump up a couple of k a year and pay for realvision.com 

[NoDisplayName]

You've got 3 million.

 

Put 1 million in a fixed account for your immigration extensions.  In your name only, but I've read you can have your wife sign on the blacklight-visable only signature strip in the passbook, meaning she should be able to take the money out when extensions are no longer required.

 

The other 2 million you can put into bond ETF's.  That converts to about US$55K.  7% will give you about $320/month interest, or about 11,500 baht/month spending money without touching the balance.

[Searat7]

You received some good financial/legal advice here but the first change I would make is to turn on the air conditioning- at least at night for comfortable sleep. 

[AlienBoy]

Thank you all for some great comments , its going to take me some time to now put some of your advice into action . In the meantime I’m going to seek more advice on investment options in the .....  Jobs, Economy, Banking, Business, Investments section. 

 

Again thanks every one .🙏