Thai Baht is ruining my retirement

[jerrymahoney]

On 9/27/2024 at 10:08 PM, GinBoy2 said:

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

Sure the baht per $ is down in part because of drop in US interest rate. But because of the drop in US interest rate I can live with this:

[scubascuba3]

When you do your forecasts and budgeting, calculate at different exchange rates to see whether you can afford to live here

[jerrymahoney]

19 minutes ago, scubascuba3 said:

When you do your forecasts and budgeting, calculate at different exchange rates to see whether you can afford to live here

It is possible that, depending  how owns finances are structured stateside, to be net ahead with $ dropping against the baht and the S&P at records highs.

[chiang mai]

1 minute ago, jerrymahoney said:

It is possible that, depending  how owns finances are structured stateside, to be net ahead with $ dropping against the baht and the S&P at records highs.

Not only possible, it's entirely probable. 

[jerrymahoney]

I didn't want to go overboard with the voice-of-doom.

[KhunLA]

On 9/26/2024 at 8:55 PM, Jerry777 said:

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

By obviously planning retirement better.  You didn't really think the THB was going to stay in the 36-37-38 range or go higher ... did you ?  

 

Better Research = Better Retirement

[Isaan sailor]

21 minutes ago, chiang mai said:

Not only possible, it's entirely probable. 

Yup—stocks up, Baht up.  And visa versa.

[chiang mai]

Just now, Isaan sailor said:

Yup—stocks up, Baht up.  And visa versa.

OK but THB and stocks are up, because USD has weakened.

[Lacessit]

The baht fluctuates against other currencies.

 

I wait until it is weak, then make transfers.

[2baht]

If you want to make a little money in Thailand, start with a LOT!

[ChaiyaTH]

Just now, 2baht said:

If you want to make a little money in Thailand, start with a LOT!

No you have to start with zero

[Mike Teavee]

1 hour ago, KhunLA said:

By obviously planning retirement better.  You didn't really think the THB was going to stay in the 36-37-38 range or go higher ... did you ?  

 

Better Research = Better Retirement

Plan for a better retirement... why didn't they think about that? 

 

Unfortunately for a lot of people their retirement funds are more or less thrust upon them 

 

Don't hate on me, I (& you)  are the lucky ones... But it really doesn't help guys who are impacted by the drop in Thai Baht... 

Edited September 29 by Mike Teavee

[Captain Flack]

A pointless off topic troll comment has been removed.

[KhunLA]

31 minutes ago, Mike Teavee said:

Plan for a better retirement... why didn't they think about that? 

 

Unfortunately for a lot of people their retirement funds are more or less thrust upon them 

 

Don't hate on me, I (& you)  are the lucky ones... But it really doesn't help guys who are impacted by the drop in Thai Baht... 

If they were a little thin in the budget department, they probably shouldn't have moved internationally, and or burnt their bridges, and stayed in their home country, with a safety net, and programs to help them.

 

If I was single, not vested in, with house & car, had to rent, had payments of any kind, health insurance, then I'd need all of that 800k required. to enjoy living here.   Could do it for less, but doubt if I'd enjoy it or qualify for a visa.

 

Anyone making the financials, really shouldn't have a budget problem.  65k a month is more than enough to live on.

 

Exchange rate is a roller coaster ride, though only 10-20% the past 15 years, 30-35 with some nice short lived highs, 35+.

 

If Op got here & stayed, 1999, then just a year before myself.  Rate was 40-45- 30-35 (most of the tme)-then 38-32 now.   I expect it to hit 30 before Nov, then recover to 33 before Feb 2025.

 

Harris wins, we win, and it will go up.   Trump wins, we lose, if lucky, it won't dip below 30 again.

[Mike Teavee]

Just now, KhunLA said:

If they were a little thin in the budget department, they probably shouldn't have moved internationally, and or burnt their bridges, and stayed in their home country, with a safety net, and programs to help them.

 

If I was single, not vested in, with house & car, had to rent, had payments of any kind, health insurance, then I'd need all of that 800k required. to enjoy living here.   Could do it for less, but doubt if I'd enjoy it or qualify for a visa.

 

Anyone making the financials, really shouldn't have a budget problem.  65k a month is more than enough to live on.

 

Exchange rate is a roller coaster ride, though only 10-20% the past 15 years, 30-35 with some nice short lived highs, 35+.

 

If Op got here & stayed, 1999, then just a year before myself.  Rate was 40-45- 30-35 (most of the tme)-then 38-32 now.   I expect it to hit 30 before Nov, then recover to 33 before Feb 2025.

 

Harris wins, we win, and it will go up.   Trump wins, we lose, if lucky, it won't dip below 30 again.

Agree.. .But you did it when you were young 🙂

 

I did it 1st time at 40 (got bored) 

2nd  time at 46 (Very happy retired but a mate wanted me to help out on a project in Singapore... I'd lived there for the previous 6 years & loved the place so I did another 7 years).

3rd time... (53) I walked... 

 

At 40 I had a final salary pension that would give me a life that I I felt I could be "Comfortable" with.

 

My point was that other guys might not be so lucky.

 

 

 

 

[KhunLA]

3 minutes ago, Mike Teavee said:

Agree.. .But you did it when you were young 🙂

 

I did it 1st time at 40 (got bored) 

2nd  time at 46 (Very happy retired but a mate wanted me to help out on a project in Singapore... I'd lived there for the previous 6 years & loved the place so I did another 7 years).

3rd time... (53) I walked... 

 

At 40 I had a final salary pension that would give me a life that I I felt I could be "Comfortable" with.

 

My point was that other guys might not be so lucky.

... and dumb, as I didn't do any real research, not even about visas.   Which if not taking in the village orphan, would have been a major oops, as had a few years before 1st Thai wife divorce and turning 50 ... 

 

Of course at 45/46, knew I could just hop a plane and leave for USA or elsewhere with no problem.

 

The ones not so lucky, maybe should have stayed in home country.   To me, that would have just been common sense.

[Middle Aged Grouch]

Between the tax doubts on foreign pensions or income, the overcharged Bhat, those who can, are leaving Thailand for other more western friendly countries in the region. Even places like Malta or Spain offer a decent quality of life, good healthcare, great girls, cheap food and booze, for those on a pension budget. And with far less xenophobia and immigration hassles compared to Thailand. Cyprus, Malta or Spain guys,....check it out.

[Mike Teavee]

3 minutes ago, KhunLA said:

... and dumb, as I didn't do any real research, not even about visas.   Which if not taking in the village orphan, would have been a major oops, as had a few years before 1st Thai wife divorce and turning 50 ... 

 

Of course at 45/46, knew I could just hop a plane and leave for USA or elsewhere with no problem.

 

The ones not so lucky, maybe should have stayed in home country.   To me, that would have just been common sense.

Love it & wish I could have (had the nuts to have? done that 😊

[advancebooking]

On 9/27/2024 at 4:24 PM, SAFETY FIRST said:

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 

this is how you get your user name 'safety first'

[GypsyT]

6 hours ago, Middle Aged Grouch said:

Cyprus, Malta or Spain guys,....check it out.

I did. They still are 2-3 times more expensive than Thailand or Vietnam.

Portugal may be the cheapest now.

 

If you can't afford Thailand there isn't a place in EU.

 

Mexico, Central and South America are same as SE Asia. Not better in general.

So, suck it up in Th or Vn till you kick the bucket...

 

[freedomnow]

On 9/27/2024 at 5:12 AM, Jerry777 said:

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.

One thing I never got sick of was Thai food across nearly 10 years.

[still kicking]

19 minutes ago, freedomnow said:

One thing I never got sick of was Thai food across nearly 10 years.

Different than me I don't like Thai food very much I cook my self 

[Jerry777]

13 hours ago, Mike Teavee said:

Agree.. .But you did it when you were young 🙂

 

I did it 1st time at 40 (got bored) 

2nd  time at 46 (Very happy retired but a mate wanted me to help out on a project in Singapore... I'd lived there for the previous 6 years & loved the place so I did another 7 years).

3rd time... (53) I walked... 

 

At 40 I had a final salary pension that would give me a life that I I felt I could be "Comfortable" with.

 

My point was that other guys might not be so lucky.

 

 

 

 

Lecture your wife about money please!

[Mike Teavee]

Just now, Jerry777 said:

Lecture your wife about money please!

Lol, not (& have never been) married but I do lecture the GF about money on a daily basis 🙂 

[Jerry777]

3 hours ago, Mike Teavee said:

Lol, not (& have never been) married but I do lecture the GF about money on a daily basis 🙂 

Hey sorry, That message was not meant for you.

[John Drake]

On 9/27/2024 at 3:37 PM, chiang mai said:

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

 

What times are those? Just wondering if people post mostly late in the morning, as I do, and then some in the afternoon (rarely at night), or do they get plastered and drunk post in the early morning hours?