What To Do With Some Money Coming In

[Scott]

I know this may be a silly question, especially since there are some pretty knowledgeable folks on this forum. I am getting somewhere between US $15,000 and $20,000, which will be sent to me by cashier's check. I don't need the money for living expenses, but I am not sure what I should do. Is it best to put it in the bank in Thai Baht? Buy gold, keep it in some other currency?

I am not really very interested in investing the money, unless it is a pretty safe investment, but again, I don't need it to live on at this point.

Your thoughts and input is appreciated.

[Seizhin]

I heard tomorrow there'll be these Government Bonds that gives 3%+ interest or something for 2 years.

Downside is that you need to be 55 years old or above, I'm not sure if it's the same for foreigners.

You can buy them in BBL and BAY.

I apologize if I cant provide you with further infos.

Edited March 30, 2008 by Seizhin

[PrBkkPr]

10 to 20 K US$ is really a huge amount. Safer to open a fixed deposit acct with either Bangkok Bank or Kasikorn bank for a six month period where they are offereing a 3 and a 1/2 % interests. Foreigners are eligible as I had no problems openning a couple of fixed deposit accts last month during the CNY promotions. However, I think the minimum amt is a million baht, so I would suggest topping up the 10 to 20K that u are getting. Forget about gold, you have already passed the ship. Currently still at a high price of about 14,150 baht per baht weight. Still fluctuating, only buy when it is aroung 13,200 or less.

I am not an investment specialists but this is what I would recommend. Another alternative is to but a simple property and rent it out. There are decent studio aprts for aroung 400,000 to 600,000 baht and some of these can be rented out at about 5,000 to 8,000 baht per month. Check out Pantip.com marketplace(its in Thai though). But please apply due diligence and check out the locations,etc. despite whatever people say, property prices always appreciate here at less eventually!

Regards

[JacknDanny]

I know this may be a silly question, especially since there are some pretty knowledgeable folks on this forum. I am getting somewhere between US $15,000 and $20,000, which will be sent to me by cashier's check. I don't need the money for living expenses, but I am not sure what I should do. Is it best to put it in the bank in Thai Baht? Buy gold, keep it in some other currency?

I am not really very interested in investing the money, unless it is a pretty safe investment, but again, I don't need it to live on at this point.

Your thoughts and input is appreciated.

Buy Iraqi Dinar. I am serious.

You could buy approx 15-20 million Dinar at present rate.

Prior to Gulf war 15- 20 million Dinar would have been worth around 50 million USD!!!!!!!!!!

I am not suggesting with all the troubles that the Dinar will rise to its previous dizzy heights, but if you do not need the mney right now, hold the Dinar for a couple of years and you will be pleasantly surprised

[Scott]

Yes, I am over 55, but I didn't know foreigners could have fixed deposits. I have two savings accounts one at Kasikorn and one with Bangkok Bank. I'll check on it.

I don't want property in Thailand. Basically, I want the money reasonably available. I have no plans to leave, but if/when I do, I want to be able to leave without disposing of anymore crap than I already have--like a car, lots of furniture etc. etc.

So, most of you think the Thai Baht is OK?

[BEENTHEREDONETHAT]

Consider investing it in another currency. Perhaps the Australian dollar or the new Zealand dollar. The down side is they are very strong against the USD right now. So you have the currency flucuation to worry about but the interest is very good 7-9% in a aa rated bank.

Taxes are 10% on the earnings in Australia and 2% in New Zealand.

Good luck with it whatever you do.

[LaoPo]

I know this may be a silly question, especially since there are some pretty knowledgeable folks on this forum. I am getting somewhere between US $15,000 and $20,000, which will be sent to me by cashier's check. I don't need the money for living expenses, but I am not sure what I should do. Is it best to put it in the bank in Thai Baht? Buy gold, keep it in some other currency?

I am not really very interested in investing the money, unless it is a pretty safe investment, but again, I don't need it to live on at this point.

Your thoughts and input is appreciated.

Buy Iraqi Dinar. I am serious.

You could buy approx 15-20 million Dinar at present rate.

Prior to Gulf war 15- 20 million Dinar would have been worth around 50 million USD!!!!!!!!!!

I am not suggesting with all the troubles that the Dinar will rise to its previous dizzy heights, but if you do not need the mney right now, hold the Dinar for a couple of years and you will be pleasantly surprised

Interesting but risky I would think.

It's not the first time in history a country changes it's currency (rates) overnight. If the war is coming to and end, I wouldn't bet on it.

But, I'm not an expert on Iraqi Dinar.

LaoPo

[britmaveric]

Open a bar.

[howtoescape]

Putting it in another currency has got to be a gamble with the USD being so weak.

Nationwide International will pay 3.1%, i think im right in thinking you can set it up from anywhere in the world.

http://www.nationwideinternational.com/acc...llar_glance.htm

[JacknDanny]

Putting it in another currency has got to be a gamble with the USD being so weak.

All the more reason to get it into another currency right now.

[number9999]

I know this may be a silly question, especially since there are some pretty knowledgeable folks on this forum. I am getting somewhere between US $15,000 and $20,000, which will be sent to me by cashier's check. I don't need the money for living expenses, but I am not sure what I should do. Is it best to put it in the bank in Thai Baht? Buy gold, keep it in some other currency?

I am not really very interested in investing the money, unless it is a pretty safe investment, but again, I don't need it to live on at this point.

Your thoughts and input is appreciated.

if you dont want to invest it why ask question ??? gold id forget it could goo up +- 30% over next

year - bank is pretty crappy 3-5% - not enough to buy a decent condo - why not put it into mutual

funds with say KAsikorn bank - safe as most but could go up or down +-20% ive done well its gone up

80% over 4 years - or just spend it buy a new car treat girlfriend or go on nice 1 year trip or make a

few girls happy for a while

Asi said if you dont need it and not interested in investing why not just enjoy it and spend it

[Seizhin]

Way to enjoy life.

[Tony121]

keep half in dollars and half in baht to reduce your risks on currency changes

[PeaceBlondie]

Hey Scott, I see you are getting lots of advice here, including how to keep lots of girls happy!

If you will not need the cash for many years, then you could put the cash into a long term deposit. The dollar does not look safe now. Since I have already put all of my long-term savings into dollars, I am in worse shape for it. Gold is very speculative, esp. now that it has hit an historic high (in US dollars). I do not know.

[Naam]

Buy Iraqi Dinar. I am serious.

You could buy approx 15-20 million Dinar at present rate.

Prior to Gulf war 15- 20 million Dinar would have been worth around 50 million USD!!!!!!!!!!

I am not suggesting with all the troubles that the Dinar will rise to its previous dizzy heights, but if you do not need the mney right now, hold the Dinar for a couple of years and you will be pleasantly surprised

the old pre gulf war II Iraqi Dinar was worthless and a restricted currency. the new Iraqi Dinar is a restricted currency, only available in Iraq, worthless anywhere else and cannot be bought outside Iraq

[thaihome]

Why bring it to Thailand at all? If you don't need it, park it in a money market account or mutual fund in the US. Most allow easy withdrawals if you should need it. Right now is not a particularly good time to change dollars into any currency, but especially the baht, so unless you need the baht, don't do it.

TH

[PadThaiGuy]

Scott.

I recommend you look at a few books.

John Bogel, Common Sense on Mutual Funds....Maybe a book by Warren Buffet, Charles Schwab, Peter Lynch.

MSN Money has a ton of info.

http://articles.moneycentral.msn.com/Inves...tockOrFund.aspx

I recommend you buy no load funds like the Vanguard S&P500 Fund.

Very low costs and diversified.

I use Charles Schwab.

Divide your money into 12 increments and buy this fund over the next 12 months.

Also, open an IRA or other tax deferred investment and add the maximum every year.

If you are young, this can grow into a very nice retirement indeed.

Avoid playing Joe Stock Broker and only purchase diversified investments with low costs/fees.

[JacknDanny]

Buy Iraqi Dinar. I am serious.

You could buy approx 15-20 million Dinar at present rate.

Prior to Gulf war 15- 20 million Dinar would have been worth around 50 million USD!!!!!!!!!!

I am not suggesting with all the troubles that the Dinar will rise to its previous dizzy heights, but if you do not need the mney right now, hold the Dinar for a couple of years and you will be pleasantly surprised

the old pre gulf war II Iraqi Dinar was worthless and a restricted currency. the new Iraqi Dinar is a restricted currency, only available in Iraq, worthless anywhere else and cannot be bought outside Iraq

Wrong. I recently bought some.

Plenty of places you can get hold of it

Suggest you google Iraqi Dinar. You will be surprised.

[BigSnake]

Save it dude, I have no doubt what so ever you will need it sometime in the future in the land of smile.

[naka]

Thai banks are only paying 2% for six month and 2.25% for twelve months on Baht deposits.

Naka.

[Scott]

Thanks some helpful advice. By the way, it's not that I don't want to invest it--I meant I wanted it to be reasonably liquid, should I need it--thus not interested in property or direct business such as bar, restaurant etc.

That said, thanks for some great advice. I'll be checking things out and mulling it over; deciding what's best for me and my circumstances.

[hlfourie]

I could keep it for you...?

[basjke]

Best thing is to keep it in dollars.It will probably go down more in the near future but as you said you don't need it to live,in over the next 2 years it will give you a profit on exchange which no bank account can offer you in intrest at the moment.

[RAZZELL]

Buy Iraqi Dinar. I am serious.

You could buy approx 15-20 million Dinar at present rate.

Prior to Gulf war 15- 20 million Dinar would have been worth around 50 million USD!!!!!!!!!!

I am not suggesting with all the troubles that the Dinar will rise to its previous dizzy heights, but if you do not need the mney right now, hold the Dinar for a couple of years and you will be pleasantly surprised

the old pre gulf war II Iraqi Dinar was worthless and a restricted currency. the new Iraqi Dinar is a restricted currency, only available in Iraq, worthless anywhere else and cannot be bought outside Iraq

Wrong. I recently bought some.

Plenty of places you can get hold of it

Suggest you google Iraqi Dinar. You will be surprised.

I'd be surprised too if you made any money!

RAZZ

[longball53098]

SCB Bank has a good rate,,,,,,,,,,,,,is it great no,,,,,,,,,,,but at least your money is earning something,,,,,,,,,,,

Web site,,,,,,,,,,,,,,http://www.scb.co.th/en/pnb/pnb_nws_080318_01_mu.shtml