Expat Net Worth

[Naam]

A million dollars is quite wealthy even by western standards (I'm waiting for the 'a million dollars is nothing nowadays twot.), and I've never considered Thailand to be a place for wealthy folk. It's ok to visit. It's fine if you're potless or can just about affor4d to live, but for wealthy folk? Italy, Singapore, Australia, NZ, ++ have to be better if you've got enough cash. Just my opinion.

wrong assumptions! do you have any idea how much real estate is in Singapore? do you have any idea what percentage of income tax one pays in Oz or NZ? are you aware what the cost of living in Italy or anywhere in Central Europe is?

[jasreeve17]

A million dollars is quite wealthy even by western standards (I'm waiting for the 'a million dollars is nothing nowadays twot.), and I've never considered Thailand to be a place for wealthy folk. It's ok to visit. It's fine if you're potless or can just about affor4d to live, but for wealthy folk? Italy, Singapore, Australia, NZ, ++ have to be better if you've got enough cash. Just my opinion.

wrong assumptions! do you have any idea how much real estate is in Singapore? do you have any idea what percentage of income tax one pays in Oz or NZ? are you aware what the cost of living in Italy or anywhere in Central Europe is?

What are you talking about?

'wrong assumptions' - I didn't make any assumptions. I also have half an idea regarding all of your questions. Please try to control your arrogance.

(By the way, I have lived in NZ, Australia and Spain (paying tax in all). Visited Singapore and Italy on numerous times for both business and holidays, as well as being a development manager in Europe and Asia which included setting up new offices there. Other people have lived life too Naam.)

[Naam]

Another issue: Leaving a Legacy. I would like to leave my children (to be) all that I can to give them a head start in life.

others would appreciate to be as lucky as you. our only son and heir died 2½ years ago.

Very sorry for your loss, Naam.

it's hard to describe Teej. you have all the f@cking money you dreamed of when you were a poor boy. you are old and know that your time on this planet is limited, you would love to spend or even waste some of that f@cking money spoiling some grandchildren. but there are none. what to do? in our age (64 and 58) adoption is not an option. we have considered it for quite some time but arrived at the right conclusion "no can do".

[LaoPo]

... our only son and heir died 2½ years ago.

I am so sorry, and shocked as well, to read this, Naam ! My sincerest condolences, although very late of course.

It must have been - and still- very painful years.

Wish you and your wife all the best.

I one thinks of it...what's the value of net worth if you lose your only son ?

LaoPo

[teej]

^^^^ while I cannot begin to understand, Naam, I can sympathize. It must be devastating to lose a child, and I wouldn't wish it on anyone. Truly sorry.

The best you can do is be good to the ones you love, try not to hurt the ones you don't, and try to live a happy life. You've worked hard to establish yourself, enjoy it. You have your health and a wife you love. And lots of air-con

I think you're a helpful member of this forum. Moreso than I am, for sure. I like reading your replies, as most of them are straightforward and on point (you did have a little argument with GuestHouse in another thread, though).

Re: leaving a legacy -- I've often thought of starting a trust for my University. Just enough subsidize one under-privileged student's education per year or two based on what I can give. I don't know what other charitable interests you may have, but you CAN leave a legacy without having an heir.... just something to consider i guess.

[Naam]

I one thinks of it...what's the value of net worth if you lose your only son ?

LaoPo

the net worth still exists LaoPo. and i/we are happy to use a rather tiny -in fact PEANUT- amount of that (GOD given net worth... yeah laugh atheists... i don't f@cking care if you make fun of me!) since more than two decades for the upkeep and education of a few orphans in India and Bangla Desh. those letters we receive once a month are some sort of consolation.

[LaoPo]

I one thinks of it...what's the value of net worth if you lose your only son ?

LaoPo

the net worth still exists LaoPo. and i/we are happy to use a rather tiny -in fact PEANUT- amount of that (GOD given net worth... yeah laugh atheists... i don't f@cking care if you make fun of me!) since more than two decades for the upkeep and education of a few orphans in India and Bangla Desh. those letters we receive once a month are some sort of consolation.

I understand.

I meant to say that money/net worth versus life has no value but maybe my expression isn't worded very well...

LaoPo

[tijnebijn]

I am happy this thread now comes to a point that we come to realise that not only money can

create happiness . Like naam mentioning the passing away ( much to early ) of his only son .

I can say I do understand how he must feel ( little ) , two years ago we lost our unborn baby ( who was

8 1/2 months old and supposed to be born that week ) , I also lost my dad 9 years ago who drowned

at an age of 49 years old .

I don't want to come over now as , Hey look what happened to sad me , but these are very much main reasons

to say there are much more important things , much more important then talking about money . I do think

and understand now that life can be over just like that .

I'm lucky enough to still have 2 other sons , and it makes me wonder sometimes that for people who

only think for later , wanting it to be the best , and perhaps lose much quality time with their family due

creating and making their riches . What if they all fall away on one day and you are sitting on a mountain of money

and nobody to enjoy it with , I don't think in a situation like that it will make you feel happy , the contrary .

Some may say I would be better off staying in my home country which have social benefits etc , but hey I'm living

nine years in Thailand and basically don't have to do too much to have a life with not much worries ( till now ) .

I must point out I do not have to rent anything , and even when inflation in-calculated later, if Thai people can cope so

can we , basically when I turn 65 I live here for 42 years , so mathematically speaking more Thai then foreigner .

I am not living like an ostrich , I do understand I should do more then I do now , but they are choices I made ,

and perhaps they will change in the future , for now I chose quality time ( being around ) and want to see my children grow up , don't think its very objective to say we young are better off home , I don't care even with not much certainties ( social benefits ).

I don't want to live a life of compulsory behaviour , which we all live to a certain degree .

Or be a victim of psychological patterns ( our intern conditioning ) , I really do believe I will

feel sorry if I did and just let it come as it comes , but I do respect and envy how you guys do it ,

I would have no clue how to manage it !

Edited April 17, 2008 by tijnebijn

[j_cheung]

tijnebijn: Money can't buy happiness but sure help pays the rent et al. I normally consider Money as an excellent servant but a poor master and speaking for myself, I can't have enough "servants" these days too

But you made a good point that's missing from those who only rely on their own finances and pensions for retirement - the emotional closeness and the strength of family support between children & their parents in old age. This is particularly meaningful here in Thailand & across developing Asia match any "insufficiency" of the social wealth & health programs.

Dr. Naam: I and many others appreciate your worldly words of wisdom & advice written in this forum. That's also part of your good legacy.

Thanks again for a very enlightening thread!

[Naam]

(By the way, I have lived in NZ, Australia and Spain (paying tax in all). Visited Singapore and Italy on numerous times for both business and holidays, as well as being a development manager in Europe and Asia which included setting up new offices there. Other people have lived life too Naam.)

yeah right! but you did not answer any of the questions i asked. we might have different opinions and views, but only facts count. i don't see any facts in your posting except some non-committing yada yada yakety yak

[madjbs]

Why don't you set up or fund some schools or medical centers in rural Thailand or Laos Naam? That way you could improve the lives of dozens of kids which would surely make everything worthwhile.

[Pepe']

^^^^ while I cannot begin to understand, Naam, I can sympathize. It must be devastating to lose a child, and I wouldn't wish it on anyone. Truly sorry.

The best you can do is be good to the ones you love, try not to hurt the ones you don't, and try to live a happy life. You've worked hard to establish yourself, enjoy it. You have your health and a wife you love. And lots of air-con

I think you're a helpful member of this forum. Moreso than I am, for sure. I like reading your replies, as most of them are straightforward and on point (you did have a little argument with GuestHouse in another thread, though).

Re: leaving a legacy -- I've often thought of starting a trust for my University. Just enough subsidize one under-privileged student's education per year or two based on what I can give. I don't know what other charitable interests you may have, but you CAN leave a legacy without having an heir.... just something to consider i guess.

--------------

I guess I've got a reputation, of sorts, on TV. I guess we all do.

My young wife and three children were all killed in a car wreck in 1980. Hit "black ice" on a road in north eastern Pennsylvania. The car stopped at the bottom of a ravine 150 feet later.

Try "chewing on that one" for a while.

[Naam]

Why don't you set up or fund some schools or medical centers in rural Thailand or Laos Naam? That way you could improve the lives of dozens of kids which would surely make everything worthwhile.

i am much more interested to do something for vietnamese children and i have (very) valid personal reasons for that. unfortunately communication with vietnamese authorities is extremely difficult. moreover, my wife and me were always keen to see actual results instead of making donations to an anonymous entity.

[Naam]

My young wife and three children were all killed in a car wreck in 1980. Hit "black ice" on a road in north eastern Pennsylvania. The car stopped at the bottom of a ravine 150 feet later. Try "chewing on that one" for a while.

that's terrible Pepe! when reading this my thought is "who am i to blame God for my loss?"

[Pepe']

Like my signature says " it's all karma." Anyway I believe.

Did I curse God? You bet from Krishna, Buddha, Jesus Christ, right down the line.

That was then, this is now. Am I f@cked up You bet. Do I give, sometimes until it hurts, really.

"Money can't buy happiness, but it sure makes suffering a lot easier."

[madjbs]

Why don't you set up or fund some schools or medical centers in rural Thailand or Laos Naam? That way you could improve the lives of dozens of kids which would surely make everything worthwhile.

i am much more interested to do something for vietnamese children and i have (very) valid personal reasons for that. unfortunately communication with vietnamese authorities is extremely difficult. moreover, my wife and me were always keen to see actual results instead of making donations to an anonymous entity.

Yes I can understand the need to see direct results, the reason I mentioned it was that I watched a report on T.V where a rich Turkish guy was building dozens of schools in rural Turkey, providing a decent education to kids who otherwise would have received nothing. He kept visiting the schools and saw the results for himself while keeping the standard exactly at the level he wanted. Obviously as he was a native he wouldn't have any of the barriers you would have in Vietnam.

[YoungFarang13]

net worth is deceiving because it does not take into account cost of living. like you buy a condo in a very good location. the value of the condo doubles. great! but if you sell, then you really dont see any of the profit unless you decide to move to a cheaper location. if you want to keep living there, well the cost has gone up, if that makes any sense at all.

[Pepe']

I see many very wealthy patients in my practice here in San Diego. Most from La Jolla. Only after many years of treating sometimes the entire family did I finally become convinced that money does not buy happiness or functionality for that matter.

I'm 56 and still seeing sick people, or people in pain 5 days a week.

Everyone is suffering. I seem to be able to help most. Even sometimes cure. Although I wish they were all better...

[YoungFarang13]

really? those little white farang kids look happy with their isaan nannies

[Pepe']

really? those little white farang kids look happy with their isaan nannies

-----------------

Actually I can't take credit for "Life is suffering."

I believe the author was Lord Buddha...

[BEENTHEREDONETHAT]

Naam and Pepe really sorry to hear about your losses, can't really immagin anything more devastating. Hopefully the rest of your lives will go very smoothly to make up for it in some small way.

Enjoy both of your post and always look forward to reading them.

[Mobi]

Naam and Pepe really sorry to hear about your losses, can't really immagin anything more devastating. Hopefully the rest of your lives will go very smoothly to make up for it in some small way.

Enjoy both of your post and always look forward to reading them.

I second that 100%

It sort of puts everything into perpective.

[Pepe']

Naam and Pepe really sorry to hear about your losses, can't really immagin anything more devastating. Hopefully the rest of your lives will go very smoothly to make up for it in some small way.

Enjoy both of your post and always look forward to reading them.

I second that 100%

It sort of puts everything into perpective.

-------------------

Yes hopefully it helps to explain, partially, why I'm so f@cked up.

It's not something you graduate from or overcome with therapy.

It's something you survive, or try to.

Knowing you have a problem is half the battle.

What you do about it is the other half.

I pray to "get it straight in this life."

[Neeranam]

Naam and Pepe really sorry to hear about your losses, can't really immagin anything more devastating. Hopefully the rest of your lives will go very smoothly to make up for it in some small way.

Enjoy both of your post and always look forward to reading them.

I second that 100%

It sort of puts everything into perpective.

-------------------

Yes hopefully it helps to explain, partially, why I'm so f@cked up.

It's not something you graduate from or overcome with therapy.

It's something you survive, or try to.

Knowing you have a problem is half the battle.

What you do about it is the other half.

I pray to "get it straight in this life."

I pray you do too Pepe - good luck.

You're one of my fave all -time posters btw.

[Pepe']

And thank you all for your kind words...

[samsara]

very much agree with a few sentiments expressed here. in many ways, living in thailand as opposed to 1st world countries should be considered as a tradeoff, rather than as a bargain. if one truly relishes living on less than $1k/month, then great, but very few actually do. personally, i can live with the technological downgrades here and the extra charge for western goods, but the lack of true, european culture kills me more and more.

thai culture is fine and dandy but its rather lacking in sophistication. carabou is nice but i need some shakespeare, some handel every now and then. good luck finding such here. and its not just the lack of venues or resources, its the environment as well. how many times have you discussed classical music or independent films or kants take on abstraction while here? it doesnt happen. im a football (us version) hooligan, too, but not 24/7 like so many here.

thailand feeds the body (climate, geography, women, food, etc.), but not the soul (unless youre drunk or overly sentimental).

all this said, i love being here most of the time. but i need to get out for intervals to remain sane. ideally, once i settle down id love to split my time between italy and here. hopefully in a few years time, such will be the case...

Edited April 21, 2008 by samsara

[bkk_mike]

Once again all the millionaires are on ThaiVisa, none around where I live. I guess Issan doesn't attract millionaires, who want to live here. I've traveled a good part of Thailand over the years, as well as a few other countries. If I were a millionaire, I wouldn't live in Issan either, nor any other part of Thailand. But that's just me, I've seen some truly beautiful places and if I had millions( dollars or pounds or Euro) I'd go to one of them. They even have stable governments, and good weather. I'm not bashing Thailand, but why would such a rich westerner put himself here? I can only think of business reasons.

TAX TAX TAX TAX

I've never considered Thailand to be a place for wealthy folk. It's ok to visit. It's fine if you're potless or can just about affor4d to live, but for wealthy folk? Italy, Singapore, Australia, NZ, ++ have to be better if you've got enough cash. Just my opinion.

Singapore's tax isn't that bad, but Italy, Aus, NZ, all tax you on worldwide income, and Australia almost makes Sweden look like a tax haven.

So ,according to the poll,30% of the respondents are millionaires in $US terms,, what would be the % of millionaires in the expat community as a whole I wonder.

Not that I would for one second think that the posters here would be given to stretching the truth,but 30% expat millionaires residing in a developing nation that is not even a"tax haven".

So long as you're not earning money in Thailand, and only taking enough of your offshore income into Thailand to live on. Thailand is actually not bad as a tax haven.

I am asset rich, but fairly cash poor, mainly because a large part of my income is still paying mortgages back in the UK.

Although, I am thinking of returning full-time to the UK. Mainly for the kids, but I wouldn't mind having Sky TV, and decent internet all the time.

Edited April 22, 2008 by bkk_mike

[Gary A]

thai culture is fine and dandy but its rather lacking in sophistication. carabou is nice but i need some shakespeare, some handel every now and then. good luck finding such here. and its not just the lack of venues or resources, its the environment as well. how many times have you discussed classical music or independent films or kants take on abstraction while here? it doesnt happen. im a football (us version) hooligan, too, but not 24/7 like so many here.

thailand feeds the body (climate, geography, women, food, etc.), but not the soul (unless youre drunk or overly sentimental).

I'm not drunk although in recent times I may be somewhat sentimental. Other than during the past five years I have never simply set down and just looked around. While sitting, relaxing and looking, I ask myself why am I a lucky one? What if I had been born in the middle of a rice paddy? What if I had been born in Zimbabwe? Could I cope with that life? I am not wealthy but I am very grateful that I am comfortable and expect to be so the rest of my life. I'm sure that having your health and contentment is much more valuable than money. A very wealthy older good friend of mine once told me that he would give all of his money for just ten more years of good health and life.

I think if I were still in the US, I would not have these thoughts and would be feeling sorry for myself because some of my neighbors were better off than I was.

[bendix]

People seem to think a million dollars (US$) is a lot of money. Frankly it isnt.

But it's patently obvious why someone with a million would prefer to be here than in, say, the UK.

US$1,000,000 invested in a relatively secure account might fetch 6.5%. Ignoring tax, that's US65,000 per annum or around 170,000 a month. Enough for a more than comfortable existence in places like Chiang Mai or Hua Hin.

Compare the same return in the UK. £500,000 would generate £32,500 in income.

I dunno about you, but I'd hazard a guess and say that 170,000 a month in Thailand buys a much better retirement than £2700 in the UK.

[AFKAFSinLOS]

thai culture is fine and dandy but its rather lacking in sophistication. carabou is nice but i need some shakespeare, some handel every now and then. good luck finding such here. and its not just the lack of venues or resources, its the environment as well. how many times have you discussed classical music or independent films or kants take on abstraction while here? it doesnt happen. im a football (us version) hooligan, too, but not 24/7 like so many here.

thailand feeds the body (climate, geography, women, food, etc.), but not the soul (unless youre drunk or overly sentimental).

I'm not drunk although in recent times I may be somewhat sentimental. Other than during the past five years I have never simply set down and just looked around. While sitting, relaxing and looking, I ask myself why am I a lucky one? What if I had been born in the middle of a rice paddy? What if I had been born in Zimbabwe? Could I cope with that life? I am not wealthy but I am very grateful that I am comfortable and expect to be so the rest of my life. I'm sure that having your health and contentment is much more valuable than money. A very wealthy older good friend of mine once told me that he would give all of his money for just ten more years of good health and life.

I think if I were still in the US, I would not have these thoughts and would be feeling sorry for myself because some of my neighbors were better off than I was.

Think that's a very good point made by Gary A and one that people usually overlook.

My view was that in the first year in Thailand I learnt a lot about Thai culture, Thai ways etc. After that I found I didn't learn so much or receive so much stimulation from the Thais. So I questioned why was I here?

I actually find now that while the Thais themselves don't teach me much any more, and I don't necessarily receive much stimulation from Thailand and Thais, it is however, an environment which does faciliatate a lot of thought. Like Gary A you start to look at life in different ways. You find the answers inside yourself, and in looking at things differently. Thailand taught me how there could be a very different point of view, and a different way. Just opening up the single door, opens up a million other possibilities in how to look at and approach life. Thais maybe open one more level/dimension. It's up to yourslef to open the millions more.

Edited April 23, 2008 by AFKAFSinLOS