We Are Moving To Thailand!

[Bobsyouruncle]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

All up we will have about 3.5 million baht to set ourselves up, but no other income.

It would be highly unlikely I would find work in my profession so I would need to find some way of producing a steady income.

My plan is to just do nothing for 6 or so months and just keep my ear to the ground and research any business opportunities that may arise.

I would like to hear some success stories from other TV members that have been in a similar situation. Come to think of it, give me the bad ones too.

Thanks in advance

[Datsun240Z]

I'm not that smart, but I would say, you won't last long with that money in Thailand. So you should go for a job search the first day.

[thaimate]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

All up we will have about 3.5 million baht to set ourselves up, but no other income.

It would be highly unlikely I would find work in my profession so I would need to find some way of producing a steady income.

My plan is to just do nothing for 6 or so months and just keep my ear to the ground and research any business opportunities that may arise.

I would like to hear some success stories from other TV members that have been in a similar situation. Come to think of it, give me the bad ones too.

Thanks in advance

first ,how old are you? if your not going to get a pension of some sort soon ,i dont wish to be a wet blanket but three and a half million wont last to many years ,and it will not be easy to find a well paid job,if you have a child the expenses keep rising .

best of luck ,but !!!

oh and dont buy a bar.

Edited June 26, 2009 by thaimate

[Bobsyouruncle]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

All up we will have about 3.5 million baht to set ourselves up, but no other income.

It would be highly unlikely I would find work in my profession so I would need to find some way of producing a steady income.

My plan is to just do nothing for 6 or so months and just keep my ear to the ground and research any business opportunities that may arise.

I would like to hear some success stories from other TV members that have been in a similar situation. Come to think of it, give me the bad ones too.

Thanks in advance

first ,how old are you? if your not going to get a pension of some sort soon ,i dont wish to be a wet blanket but three and a half million wont last to many years ,and it will not be easy to find a well paid job,if you have a child the expenses keep rising .

best of luck ,but !!!

oh and dont buy a bar.

I am 47, no pension coming up for me.

A bar is out of the question but surely other business opertunities are out there!

I have no intention of just sitting around doing nothing untill the money runs out.

My wife and I live very cheap in Thailand, we cook at home and we don't drink or smoke. We spent 6 months there about 3 years ago and we lived very comforatble on about 25k per/mth, including rent and running a car.

I am a commissioning manager working in construction. I very much doubt they would hire a farang for this job.

[Datsun240Z]

Dude, dide we meet once at a Thai embassy in Amsterdam?

[kokesaat]

Coming over for vacation and coming over to live are too different things. If you don't have an insurance plan, you'd be wise to set aside a mil of that savings just in case. If you don't, you'll end up in a government hospital........visit one before you choose to decline an insurance plan.

[Bobsyouruncle]

Dude, dide we meet once at a Thai embassy in Amsterdam?

Afraid not, I've never been to Amsterdam.

[givenall]

I'm not that smart, but I would say, you won't last long with that money in Thailand. So you should go for a job search the first day.

i would recommend Isan with that much money. you would need a min of 8 mil bath to start a good biz in Bangkok

[wefearourdespot]

A bar is out of the question but surely other business opportunities are out there!

No they are not.

[Maizefarmer]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

All up we will have about 3.5 million baht to set ourselves up, but no other income.

It would be highly unlikely I would find work in my profession so I would need to find some way of producing a steady income.

My plan is to just do nothing for 6 or so months and just keep my ear to the ground and research any business opportunities that may arise.

I would like to hear some success stories from other TV members that have been in a similar situation. Come to think of it, give me the bad ones too.

Thanks in advance

What do you know about the country (?), you say nothing about ever having spent time here before(?), you have no job to come to (?), no home here(?), no contacts(?), limited funds - but have decided to move out here in anycase - just like that .

Why - and why Thailand specifically?

Any advice? - yes.

Very strongly suggest you guys come out for a couple holidays, before making any committment.

.. and as others have said Baht 3.5mill ain;t much at all if you are shutting up shop back in Europe or the USA to move out to Thailand. By the time the house is built and the car is purchased a very large slice of your capital will be gone (add to that setting up some form of business and your capital is going to be all but gone).

And that all aside - this is probably the very worst time to be converting such a large amoutn of forex into Thai Baht.

You can be as close to certain as damnit that if you wait 6 - 10months the forex that is giving you Baht 3.5mill now, is going to give you close to (if not more than) 5mill. Yes - the Baht is going to turn: exports are down 30% to 50% (depending on the sector), tourism has plumetted and manufacturing industry is in dire striaghts - the result largely of the so-called credit crunch and brand names moving production quotas into Vietnam, China and anywhere else - but Thailand.

Change your forex into TB now and, you are going to wake up one morning sometime later this year/early next year and be very sick (and choke on your coffee) when you turn to the exchange rates page in the Bangkok Post - to see how much the Baht fell overnight.

[Rimmer]

You can't generate money in this country there is not enough to go around as it is.

I can't believe someone can be this naive, the mind boggles......

[timinchina]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

All up we will have about 3.5 million baht to set ourselves up, but no other income.

It would be highly unlikely I would find work in my profession so I would need to find some way of producing a steady income.

My plan is to just do nothing for 6 or so months and just keep my ear to the ground and research any business opportunities that may arise.

I would like to hear some success stories from other TV members that have been in a similar situation. Come to think of it, give me the bad ones too.

Thanks in advance

first ,how old are you? if your not going to get a pension of some sort soon ,i dont wish to be a wet blanket but three and a half million wont last to many years ,and it will not be easy to find a well paid job,if you have a child the expenses keep rising .

best of luck ,but !!!

oh and dont buy a bar.

I am 47, no pension coming up for me.

A bar is out of the question but surely other business opertunities are out there!

I have no intention of just sitting around doing nothing untill the money runs out.

My wife and I live very cheap in Thailand, we cook at home and we don't drink or smoke. We spent 6 months there about 3 years ago and we lived very comforatble on about 25k per/mth, including rent and running a car.

I am a commissioning manager working in construction. I very much doubt they would hire a farang for this job.

I sense another English teacher hitting the Bangkok labour market!(Obviously disregarding the spelling of comfortable!)

[maichai40]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

All up we will have about 3.5 million baht to set ourselves up, but no other income.

It would be highly unlikely I would find work in my profession so I would need to find some way of producing a steady income.

My plan is to just do nothing for 6 or so months and just keep my ear to the ground and research any business opportunities that may arise.

I would like to hear some success stories from other TV members that have been in a similar situation. Come to think of it, give me the bad ones too.

Thanks in advance

I have good and bad news for you.

First, the money you have, if spent with a lot of brain, can last many years. Buy just a motorbike, you are not in a position to invest in a house, condo, a car or else, so rent!!.

Go live someplace in the countryside but not too far from a city, because who knows, you might find a job one day...and if your wife is a good cook try with a restaurant near or in front your house, something simple, shouldn't cost more than 20-30.000 to set up.

Those were the good news.

The bad news are that i am in your same situation regarding age, family, no income etc., but i have more money (most overseas). The business i didn't do in the 3 years i spent in Thailand saved my ass, because i saw all my friend or possible partners losing their money, some part some all (i speak for Phuket-Samui). So be cautious and don't risk, specially now.

Remember the dangers are many, wife family (sorry but is true), other girls, scams etc.

My advice is set up in one place, cheap, spend max 20-25.000/month and try a small business after you and wife are familiar with the place. No other chance in sight for you, but be positive...good luck!!

[MJP]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

All up we will have about 3.5 million baht to set ourselves up, but no other income.

It would be highly unlikely I would find work in my profession so I would need to find some way of producing a steady income.

My plan is to just do nothing for 6 or so months and just keep my ear to the ground and research any business opportunities that may arise.

I would like to hear some success stories from other TV members that have been in a similar situation. Come to think of it, give me the bad ones too.

Thanks in advance

I have good and bad news for you.

First, the money you have, if spent with a lot of brain, can last many years. Buy just a motorbike, you are not in a position to invest in a house, condo, a car or else, so rent!!.

Go live someplace in the countryside but not too far from a city, because who knows, you might find a job one day...and if your wife is a good cook try with a restaurant near or in front your house, something simple, shouldn't cost more than 20-30.000 to set up.

Those were the good news.

The bad news are that i am in your same situation regarding age, family, no income etc., but i have more money (most overseas). The business i didn't do in the 3 years i spent in Thailand saved my ass, because i saw all my friend or possible partners losing their money, some part some all (i speak for Phuket-Samui). So be cautious and don't risk, specially now.

Remember the dangers are many, wife family (sorry but is true), other girls, scams etc.

My advice is set up in one place, cheap, spend max 20-25.000/month and try a small business after you and wife are familiar with the place. No other chance in sight for you, but be positive...good luck!!

Good post.

Everyone's got it right with 30k a month.

All my money comes from the West and always will. I have no intention of ever trying to make money here.

OP, you might try setting up a base here yet working away for 4-5 months of the year. It's only an aeroplane ride. Don't know if this is possible for you.

3.5 million is not that much these days and I suspect the world is in for a massive dose of inflation sometime soon. Also, if that 3.5 million Baht is currently in GBP or USD be careful. These countries are on the precipice right now.

It took me seven years to establish a base here and a lot more than 3.5 million Baht.

[abdulrahman]

A Thai manual worker,your age and conditions(no children,no extended family to care for),with that money(a lottery win?) could make the transition from destitute to a comfortable life;or he could spend all and return to nothing again.

For an expat,without prior experience of working in Thailand,or any useful know how,is a recipe for disaster.

Look at the failure rates!Good luck anyway.

[anothertorres]

it's not the beer and the cigarettes that will break your bank. and my advice, do it.

[MJP]

A Thai manual worker,your age and conditions(no children,no extended family to care for),with that money(a lottery win?) could make the transition from destitute to a comfortable life;or he could spend all and return to nothing again.

For an expat,without prior experience of working in Thailand,or any useful know how,is a recipe for disaster.

Look at the failure rates!Good luck anyway.

Yep!

Although many do work here, most expats need to accept their income comes from the West. Ignore this fact at your peril.

[cheynewalk]

Currently in australia some banks are offering 6% term deposits for 3 years. At that rate your 3.5 million baht will generate approximately 200,000 baht per annum or 16,000 baht/month. 2 of you living extremely frugally in rural thailand could get by on that with no risk or stress in setting up a business.

Crunch time comes in 3 years when you hope rates have risen, so as not to affect your capital.

[MJP]

Currently in australia some banks are offering 6% term deposits for 3 years. At that rate your 3.5 million baht will generate approximately 200,000 baht per annum or 16,000 baht/month. 2 of you living extremely frugally in rural thailand could get by on that with no risk or stress in setting up a business.

Crunch time comes in 3 years when you hope rates have risen, so as not to affect your capital.

WOW! 6%! Can anyone join in?

Best I can get is about 1%

[cheynewalk]

Sure, try suncorp bank and raboplus bank (both supported by the federal governments guarantee). I'll bet there's others too if you look around.

[MJP]

Sure, try suncorp bank and raboplus bank (both supported by the federal governments guarantee). I'll bet there's others too if you look around.

Trouble is I'm not an Aussie.

Surely you need to 'be there', 'doing something' under a particular visa?

Good idea if possible for the OP there. Would give the chap a little breathing space, which is what I suspect he's after. Basically a decent break from the madness.

[snuggzzz]

I do think that now is not the time to invest anywhere in Thailand. You do not say where you are from, but Thailand although a beautiful land will be going through a monetary crisis when it has to adjust to world markets.

Medical Insurance is a must, for both of you, with the cost of that and limited funds it would be better to stay put where you are, try and get a job, save any money and reappraise the idea next year.

I am sorry not to be more positive, if you have to move because of circumstances, then go with MJP's advice, you will definitely need the Medical Insurance. I genuinely wish you both Good Luck..!!

[MJP]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

All up we will have about 3.5 million baht to set ourselves up, but no other income.

It would be highly unlikely I would find work in my profession so I would need to find some way of producing a steady income.

My plan is to just do nothing for 6 or so months and just keep my ear to the ground and research any business opportunities that may arise.

I would like to hear some success stories from other TV members that have been in a similar situation. Come to think of it, give me the bad ones too.

Thanks in advance

What do you know about the country (?), you say nothing about ever having spent time here before(?), you have no job to come to (?), no home here(?), no contacts(?), limited funds - but have decided to move out here in anycase - just like that .

Why - and why Thailand specifically?

Any advice? - yes.

Very strongly suggest you guys come out for a couple holidays, before making any committment.

.. and as others have said Baht 3.5mill ain;t much at all if you are shutting up shop back in Europe or the USA to move out to Thailand. By the time the house is built and the car is purchased a very large slice of your capital will be gone (add to that setting up some form of business and your capital is going to be all but gone).

And that all aside - this is probably the very worst time to be converting such a large amoutn of forex into Thai Baht.

You can be as close to certain as damnit that if you wait 6 - 10months the forex that is giving you Baht 3.5mill now, is going to give you close to (if not more than) 5mill. Yes - the Baht is going to turn: exports are down 30% to 50% (depending on the sector), tourism has plumetted and manufacturing industry is in dire striaghts - the result largely of the so-called credit crunch and brand names moving production quotas into Vietnam, China and anywhere else - but Thailand.

Change your forex into TB now and, you are going to wake up one morning sometime later this year/early next year and be very sick (and choke on your coffee) when you turn to the exchange rates page in the Bangkok Post - to see how much the Baht fell overnight.

I hear what you say regards the Thai economy. Yet I believe the UK etc is in a far, far worse condition. Thailand continues with a trade surplus and the real driver behind money markets is debt and the fear of default and a gilts strike. Seriously on the cards for Britain.

The real shocks, I think are more likely to come from the UK.

Just my opinion.

TBH, who the hel_l knows what's going to happen, it's madness out there.

[Datsun240Z]

Everywhere Mike, U.K ( or what's left of it ) is really fuc_ked up.

[MJP]

Everywhere Mike, U.K ( or what's left of it ) is really fuc_ked up.

It's those countries that had a credit bubble fuelled consumer binge/house price inflation/wild government borrowing that are at the greatest risk right now. UK's up there with the best of them.

[William Osborne]

if you are a commissioning manager in construction, i would suggest you try and find a overseas job with a decent rotation.

$100 K is not enough to retire on and and at 47 you are probably at your peak regarding career... you don't want to be back in the job market in 10 years time.

[Oberkommando]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

How did you find the Permanent Residency process? Easy? Difficult? costly?

[MJP]

My Thai wife and I are going to relocate permanently to Thailand in the next couple of months.

How did you find the Permanent Residency process? Easy? Difficult? costly?

Rhetorical questions are always the best.

Although I don't mind a little drive to the border once every 3 months, gets me out of the house.

[Bobsyouruncle]

if you are a commissioning manager in construction, i would suggest you try and find a overseas job with a decent rotation.

$100 K is not enough to retire on and and at 47 you are probably at your peak regarding career... you don't want to be back in the job market in 10 years time.

Hi William, at a pinch I could find some contract work in the Middle East somewhere. I have worked there on and off over the years.

I can't believe there are NO positive experiences! Are you all self funded retirees that are set up for life?

[BEENTHEREDONETHAT]

Sure, try suncorp bank and raboplus bank (both supported by the federal governments guarantee). I'll bet there's others too if you look around.

Trouble is I'm not an Aussie.

Surely you need to 'be there', 'doing something' under a particular visa?

Good idea if possible for the OP there. Would give the chap a little breathing space, which is what I suspect he's after. Basically a decent break from the madness.

All the major Australian banks are guaranteed by the gov't. As a non-resident you have to pay 10% tax on the earnings. Not sure if you have to go there to set up an account. Think it might be possible to set up in Aussie account in Singapore.

The earnings are certainly better than what you can get in LOS. The thing that can get you is the exchange rate, it can be really good for you or really bad for you.

I've had money in term deposits there for years and have been very happy with our dealings there.

New Zealand usually has a higher interest rate than Australia and they only charge 2% of earnings for service charge and no tax for off shore account holders. They also have a government guarantee but it runs out in a couple of years. The down side is you have to go there to open an account. I'm happily sitting on a 5year term deposit at 8.7% which I got last year.

When we wire money from our NZ account it is usually here in a few hours. Very nice to deal with. The exchange rate can be a problem, or a benefit.

Good luck with it.