How can I plan a dam thing when the currency here is completely out of control?

First rule in Thailand is don't try to plan anything regarding currency .

1 minute ago, kwak250 said:

First rule in Thailand is don't try to plan anything regarding currency .

You are correct

No worries, Bank of Thailand assures us they will watch the Baht rise, and take appropriate action if necessary. They will probably reduce interest rates 1/4%.  That should pump up western currencies but only a few Satang.

11 minutes ago, Jerry777 said:

How can I plan a dam thing when the currency here is completely out of control?

It's easy.

Have your income and all expenses in the same currency.

Problem solved.

Buy bitcoin and Ethereum. Hold it on a trezor wallet for 5 yrs. You will then not worry about a 3rd world asian peso currency. you will be rich. 

19 minutes ago, advancebooking said:

Buy bitcoin and Ethereum. Hold it on a trezor wallet for 5 yrs. You will then not worry about a 3rd world asian peso currency. you will be rich. 

 

19 minutes ago, advancebooking said:

Buy bitcoin and Ethereum. Hold it on a trezor wallet for 5 yrs. You will then not worry about a 3rd world asian peso currency. you will be rich. 

Probably a good idea

5 hours ago, Jerry777 said:

How can I plan a dam thing when the currency here is completely out of control?

 

The current strength of the Thai baht is a reminder that our retirement nest egg may need to be significantly larger than we think.

 

My goal is to retire with enough funds to generate the equivalent of 100,000 baht / month to live on in retirement. However, I am increasingly of the mind that I will probably need to add 20 - 25% on top of that "to be safe".

 

Unfortunately, that means a good few more years work before I retire.

There goes my spending money.

Edited September 27, 20241 yr by Jerry777
typo

12 hours ago, advancebooking said:

Buy bitcoin and Ethereum. Hold it on a trezor wallet for 5 yrs. You will then not worry about a 3rd world asian peso currency. you will be rich. 

This. Except dont bother with ethereum. Bitcoin will outperform everything

13 hours ago, OneMoreFarang said:

It's easy.

Have your income and all expenses in the same currency.

Problem solved.

How to do that with a retirement pension from overseas living in Thailand?

13 hours ago, OneMoreFarang said:

It's easy.

Have your income and all expenses in the same currency.

Problem solved.

Come on, explain how that is possible please. Pension in GBP, live in THB.

9 minutes ago, msbkk said:

How to do that with a retirement pension from overseas living in Thailand?

 

1 minute ago, KannikaP said:

Come on, explain how that is possible please. Pension in GBP, live in THB.

 

If a foreigner chooses to live away from home, then it should be no surprise that things are different than back home.

If you want a "normal" life, then stay home and do what everybody else does.

13 hours ago, Jerry777 said:

You are correct

the 2nd law, for living happily in Thailand.. is there is no Thai word for 'why' ? there is a word, of course. but don't  believe that asking 'why will get you anywhere  🙂

33 minutes ago, paddypower said:

the 2nd law, for living happily in Thailand.. is there is no Thai word for 'why' ? there is a word, of course. but don't  believe that asking 'why will get you anywhere  🙂

I was told when I arrived in 1999 that if I had to ask why more than three times a day I had better leave. Also that I would get sick of thai food.

5 hours ago, OneMoreFarang said:

 

 

If a foreigner chooses to live away from home, then it should be no surprise that things are different than back home.

If you want a "normal" life, then stay home and do what everybody else does.

Haha, you said "It's easy." Most if not all of us are in Thailand. 

4 minutes ago, msbkk said:

Haha, you said "It's easy." Most if not all of us are in Thailand. 

It's questionable whether "most" are, judging from what is written and the times of most forum activity.

12 minutes ago, msbkk said:

Haha, you said "It's easy." Most if not all of us are in Thailand. 

Yes, Mr know it all....not

32 minutes ago, anchadian said:

Yes, Mr know it all....not

Well, those who are not here have no reason to complain because they can still choose.

Edited September 27, 20241 yr by msbkk

28 minutes ago, chiang mai said:

It's questionable whether "most" are, judging from what is written and the times of most forum activity.

Ok, at least you and me are. When I came here the Baht was fixed at 25 to the USD, so for me the present exchange rate is not really the end of the world. 

5 hours ago, OneMoreFarang said:

 

 

If a foreigner chooses to live away from home, then it should be no surprise that things are different than back home.

If you want a "normal" life, then stay home and do what everybody else does.

Who wants to stay in Britain?

18 hours ago, Jerry777 said:

 

Probably a good idea

That's what I did.  My crypto portfolio is now over 200% in profit and about a year from now I plan to be up 10x from that. Of course I will be scaling out next year before the inevitable crash possibly at the end of next year. Study the 4 year cycles - invest accordingly - and as a result you wont really care about the changes in exchange rates. And when you have been here many years - it all evens out anyway. I have seen the baht range from as low as 28 up to 44 USD.

18 hours ago, advancebooking said:

Buy bitcoin and Ethereum. Hold it on a trezor wallet for 5 yrs. You will then not worry about a 3rd world asian peso currency. you will be rich. 

I'm a big believer of bitcoin having bought many in 2015 for a little over 1000 baht each. 

 

I would not advise anyone to buy them today who is depending on the proceeds for living purposes. 

 

We could see more foreigners falling from you know what 

2 hours ago, msbkk said:

Haha, you said "It's easy." Most if not all of us are in Thailand. 

 

Yes, I know that.

And yes, I understand that it would be wonderful if the exchange rate would be on a high level and never change.

But that is not the case. And that should be obvious for everyone who even thinks about living in Thailand.

So, what's the point of worrying or arguing about it. It won't change.

It's like complaining about the climate in Thailand. It's hot and wet. Accept it. There is no point to argue or moan about it. 

2 hours ago, msbkk said:

Ok, at least you and me are. When I came here the Baht was fixed at 25 to the USD, so for me the present exchange rate is not really the end of the world. 

Before my time.  But I’d be happy with another peg to the Dollar—about 34 or 35 sounds right.

2 hours ago, MarkBR said:

Who wants to stay in Britain?

 

Africans, Pakistanis and Vietnamese 

21 hours ago, advancebooking said:

Buy bitcoin and Ethereum. Hold it on a trezor wallet for 5 yrs. You will then not worry about a 3rd world asian peso currency. you will be rich. 

 

If he is retired he may croak in less than 5 years.

 

McAfee predicted 1 million bitcoin by 2020 and then?

The only way so smooth out currency fluctuations is to hold buffer cash in different currencies.  Holding above 1 million baht left over from months ago in a Thai bank account is protecting me - for now at least - from the strengthening of the baht. Not to mention that if the baht strength reduces the influx of tourists, I may get less worse hotel deals.

23 hours ago, Jerry777 said:

How can I plan a dam thing when the currency here is completely out of control?

Business

General

Call for action as baht sparks panic

Industrialists say rapid appreciation could deal a blow to exports and tourism

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Well you live overseas away from your home country income source and you live with it.

 

Not a lot you can do but tighten your belt when things get tough, then splurge when things get good

Edited September 27, 20241 yr by GinBoy2