Is This A Good Time To Retire To Thailand

[Naam]

My theories are not likely false, and most certainly not obviously false as you bluster.

as of today your theories are false. period! whether they come true in future decades is a different pair of shoes. but as already mentioned i refrain to comment and (unlike you) i'm not pretending that i'm a prophet.

out of whack and ridiculous is your advice to the OP who wrote:

i am 63 years old, i am retired, Taxmam wants to interview me, not sure why. don't want to wait around to find out. i do have a Thai girlfriend,( 3 years now) i have about maybe 500,000 euros pension pot in cash.

and you advised:

My advice to the OP is to buy gold, learn how to live frugally, and draw down that capital over the remainder of his years. If he can learn to survive on 1 baht of gold per month, that stash will last him 1000 months, or approximately 80 years.

a 63 year old who has half a million EURos in cash should live "frugally" on the pittance of 20,000 Baht/month till age 143?

give us a break! and don't boast that you have a physics background because the basis of physics is mathematics and... some logical thinking. who is "blustering" here?

next!

[Naam]

Ok Naam, i think we get your point, The last time i checked I was told i had to have an address in Australia to open a deposit account.

The thing is everyone has a different opinion.

i'm sure you know the saying that opinions are like àrseholes because everyone got one. the last time you checked with whom? did you check with your bank which -most likely- is not an Australian bank and not located in Australia?

I checked online with a few Australia bank websites .

So what your saying is that everyone with an opinion is an arsehol_e right?

Maybe you can be wrong sometime. does that make you an arshole?

I know you are trying to belittle me, and you think i am stupid/lazy.

all i am seeking is some knowledge

"Let he who is without sin cast the first stone"

Pat :jap:

english is my third language Pat but either you don't know reading or you deliberately misquote me. the latter is something i don't like at all! after reading again what i wrote i think an apology from you is warranted.

this is what i wrote:

i'm sure you know the saying that opinions are like àrseholes because everyone got one.

[stander]

Looks like yet another interesting thread wreck by egotistical maniacs

[Tolley]

Whilst 500k euros is not a vast sum and is probably inadequate for a comfortable retirement in Europe it is ample for Thailand.

Because you only have 500k euro you need to educate yourself on how to invest that money to get the best possible return for the lowest possible risk.

I suggest you start doing your research by reading Warren Buffet,Benjamin Graham or look at the like of contemporaries like Roger Montgomery who uses

value investing techniques.

If you cannot average over 10 percent return after tax using value investing methods I would be very surprised.

BTW Since I started using these techniques I am averaging well over 70 percent return. I have been using this method for the last two years. Whilst i may not be able to sustain that rate of return i feel confident that I can consistently outperform the general market and at the very least over the long run average 10 percent after tax.

[Naam]

If you cannot average over 10 percent return after tax using value investing methods I would be very surprised.

what tax? this thread is about a European retiring in Thailand. retirees can draw their offshore income tax free if they are not slaves of the IRS.

[Tolley]

If you cannot average over 10 percent return after tax using value investing methods I would be very surprised.

what tax? this thread is about a European retiring in Thailand. retirees can draw their offshore income tax free if they are not slaves of the IRS.

In that case they should be able to do better than 10 percent

[Naam]

If you cannot average over 10 percent return after tax using value investing methods I would be very surprised.

what tax? this thread is about a European retiring in Thailand. retirees can draw their offshore income tax free if they are not slaves of the IRS.

In that case they should be able to do better than 10 percent

it takes more than reading a book or two about Buffet et al and average >10% returns in the long run. that applies especially to those who are either not willing to take risks or the size of their capital does not allow them to take any risk.

[cardholder]

It is a question of perspective.

I imagine that many high-rollers cannot comprehend that there are people retiring here (and elsewhere) with no capital behind them and an income of 40,000 Baht per month (and less).

[Naam]

It is a question of perspective.

I imagine that many high-rollers cannot comprehend that there are people retiring here (and elsewhere) with no capital behind them and an income of 40,000 Baht per month (and less).

what is there not to comprehend? millions of people retire with that kind of income (or less) and they retire, or are forced to retire due to age, living in countries where living expenses are much higher than in Thailand.

[newbepat]

I am not sure if I should have to start a new topic. but here goes. Lets put this to the test.

I have €100K maturing tomorrow 10th February. comming from a Fixed Term Savings account. ( In Irish Bank)

Start Date 10 September 2010

Maturity Date 10 February 2011

Principal EUR 100,000.00

Gross Rate 3.60%

Gross interest to Maturity EUR 1,509.04

gross Maturity Amount EUR 101,509.04

Net Rate 2.70%

Net Interest to Maturity ( after DIRT) EUR 1,131.78*

Net Maturity Amount (after DIRT) EUR 101,131.78*

*Interest portion will be subject to Deposit Interest Retention Tax = (DIRT) @ prevailing rate at maturity. ( 27%)

Simple Question can anybody advise me if I can do better Legally ?

[LaoPo]

I am not sure if I should have to start a new topic. but here goes. Lets put this to the test.

I have €100K maturing tomorrow 10th February. comming from a Fixed Term Savings account. ( In Irish Bank)

Start Date 10 September 2010

Maturity Date 10 February 2011

Principal EUR 100,000.00

Gross Rate 3.60%

Gross interest to Maturity EUR 1,509.04

gross Maturity Amount EUR 101,509.04

Net Rate 2.70%

Net Interest to Maturity ( after DIRT) EUR 1,131.78*

Net Maturity Amount (after DIRT) EUR 101,131.78*

*Interest portion will be subject to Deposit Interest Retention Tax = (DIRT) @ prevailing rate at maturity. ( 27%)

Simple Question can anybody advise me if I can do better Legally ?

I'm not going to give you advise as where to invest but considering that Ireland and it's banks is/are in a horrible shape and Europe already pumped € 46 BILLION into the country/banks but yesterday it became news that another € 50 BILLION is needed to save the country's economy and banking system and I would -in your shoes- get the money out ASAP and put it in a safe place/bank but not in an Irish bank !!!!!

The situation is Ireland is very frightening and I would take my money and run............standing in your shoes that is !

Bless yourself that your money isn't locked up for another year!

This is a nice eye-opener and a MUST-READ:

http://www.vanityfai...currentPage=all

Read The Financial Times and news about Ireland also.

..I'm not the one today making you any happier but if I can play only a minor role in warning you, you owe me a drink..or 2:

http://www.guardian....nks?INTCMP=SRCH

and this:

http://www.guardian.co.uk/business/2011/feb/08/ireland-faces-jobless-recovery?INTCMP=SRCH

LaoPo

Edited February 9, 2011 by LaoPo

[malcolminthemiddle]

LM (Australia) is offering 6% net on a Fixed Term of 1 year for EURO deposits in their Managed Performance Fund, see attached.Rates on other currencies are also very attractive.

Sounds too good to be true?

Maybe Namm would be kind enough to look at the details and offer some risk advice.

http://www.lmaustralia.com/downloads/fund_reports/monthly_review_mpf.pdf

LMS RateSheet.pdf

[LaoPo]

LM (Australia) is offering 6% net on a Fixed Term of 1 year for EURO deposits in their Managed Performance Fund, see attached.Rates on other currencies are also very attractive.

Sounds too good to be true?

Maybe Namm would be kind enough to look at the details and offer some risk advice.

http://www.lmaustral..._review_mpf.pdf

On Page 3 (last page) the last sentence says: The LM Managed Performance Fund is an unregistered managed investment scheme in Australia.

The company is privately owned and the shares belong for 100% to one owner, Mr. Peter Drake - Chairman, Chief Executive Officer*

With AUD 200 Million in Fund size I'm not impressed, but maybe Naam wants to shine his light on a fund like this; I don't know too much about investments in Australia but some @nal-ists spotted some dark clouds on Aussies' horizon......

* http://www.lmaustralia.com/about_us/board/default.asp

Their financial reports run from June 2009 to June 2010 and that's old news in this speedy financial world. Investors want to be informed on a continueing basis, not yearly.

Personally, I wouldn't invest with them and the 6% net is suspicious to me.

They follow the new Australian anti-laundering rules and laws also, so if someone is seeking to stash his cash, be better look somewhere else

LaoPo

[KeyserSoze01]

Not sure what Naam is on about as there is a distinct difference between trading currencies and opening an Aussie depository account drawing 6.5% interest. Currency appreciation / depreciation is not the same as earning interest on deposits. Perhaps something was lost in the translation.

While not knowing how the OP's pension is structured, I will say this. It is not a flight of fancy to easily earn 10% return on you investments though dividends on equities (stocks). This is passive income for which you do nothing, other than collect the dividends on your investments. Yes, your principle is at risk, but there are techniques to protect your original investment, while still enjoying the benefits of the dividend income.

A simple example, €500K X 10% annual = €50K X 42.1568 (today's rate) = 2,107,840 baht annually. A figure I believe most here could live very comfortably on in Thailand, even after the tax man has been paid his due.

To put my money where my mouth is, here are 2 stocks on the US market paying high dividends.

NLY - Annaly Capital Management - Dividend yield 14.21% annually

JNK - SPDR Barclays Captial High Yield B - Average annual yield 10.05% *** This ones pays dividends monthly!!!

Have your cake and eat it too. Invest the principle, live off the interest / dividends and draw down principle as desired in your old age.

[Naam]

The priority is to protect all investors and all fund capital. In order

to do this, and to protect the fund from volatility in external market

conditions, from time to time it may be necessary to extend the

timeframes for the payment of withdrawals or to suspend the

payment of withdrawals.

yeah right! i was always looking for an opportunity to invest in a managed mini volume fund with a (for AUD) shabby 6% yield and when the Mrs needs money to buy vegetables i might be told "withdrawal no can do 'cause we protect your dough from volatility".

look at OZ government bonds (rated AAA) and compare their yields with that the fund offers:

http://www.bloomberg.com/markets/rates-bonds/government-bonds/australia/

presently i am getting 4.52% for AUD overnight cash in Singapore. i could boost the yield to ~5.50% for a fixed deposit with a one year maturity. but i happily forego that 1% difference for the possibility to convert AUD without a loss in any currency within a minute or two if need should arise.

additions:

1. "EURO" deposits not defined

2. Currently 14.40 per cent of the fund’s loan portfolio is technically classified as being in “default”.

Edited February 9, 2011 by Naam

[Naam]

JNK - SPDR Barclays Captial High Yield B - Average annual yield 10.05% *** This ones pays dividends monthly!!!

an interesting financial vehicle in which one can put a small percentage (max 5%) of one's total capital. but nobody in his right mind would invest his life savings in a company which holds 99% junk bonds (66% with single B and 33% with double B rating).

http://finance.yahoo.com/q/hl?s=JNK+Holdings

[newbepat]

I like to be able to understand any of this, but i really don't.

yes i see a graph rising on a chart

Tomorrow when i take my bank draft cheque from the bank should i change into OZ dollars then get on a plane for Australia ?

forgive me if i seem flippent but i really dont know what to do

I know my country is bandjacks, I know the banks are also F..K and i know the Euro is the not too far behind.

I have already moved €200k to Cyprus banks as i have a small apartment there. I am not too happy how their eccomany is going

The more i think about it, I Really Do Need Some Urgent HELP

Pat

[newbepat]

I like to be able to understand any of this, but i really don't.

yes i see a graph rising on a chart

Tomorrow when i take my bank draft cheque from the bank should i change into OZ dollars then get on a plane for Australia ?

forgive me if i seem flippent but i really dont know what to do

I know my country is bandjacks, I know the banks are also F..K and i know the Euro is the not too far behind.

I have already moved €200k to Cyprus banks as i have a small apartment there. I am not too happy how their eccomany is going

The more i think about it, I Really Do Need Some Urgent HELP

Pat

I forgot to say i dont like high risk I would prefer safe investments ( if there is such a thing) I am not into stocks/shares

All i am looking for is a safe place for my money where i draw down enough to live on year on year

Pat

[mogoso]

I believe it's called VA disability compensation for which you can qualify in case you get injured while on active duty.

Technically it's not a pension but in a way it works the same in that it gives you a monthly amount which can be substantial.

I've received a small VA Disability since I was 21, that's over 40 years. I read some time ago on Thai Visa that its possible somehow to get free medical care in Thailand under the VA system if your disability is high enough.

[LaoPo]

The more i think about it, I Really Do Need Some Urgent HELP

Pat

I really don't underdstand you.

If there isn't any MAJOR Accounting Firm like I advised you before, within 2-3 hours driving (or train) distance, I would, if I were you, step on a plane and visit the nearest office they have, where ever in Europe (or in Asia if you are there) and talk to them, asking for solid and independent advise.

But, instead, you stay on board here, have sleepless nights, asking total strangers for URGENT HELP.... whilst you could have a perfect fitting suit, made-to-order for your financial questions and pension.

Instead, you're dreaming of going and living in Thailand but want the ultimate financial solution from some total strangers on a Thai website, NOT knowing your personal in's and out's, meaning they can't help you!

I know that 1 or 2 on this board could help you out, but they won't since they won't take the responsibility in case the tree bends over in a heavy financial storm, making you nervous and making THEM nervous you're taking a car with an axe driving to their homes and holding THEM responsible for YOUR losses.

Now, I could try to bring to into contact with a Thai gardener who speaks 4 languages and is well informed about international banking and investments, but the last thing I heard he's enjoying his holidays with his wife and 2 Mia Noi's on a 100 ft Yacht near the Canary Islands/Spain off the African West Coast, planning to cross-over to the Caribbean, leaving his Boss in Thailand helpless since the weed is spreading around the estate at a mind boggling speed.

What a world.

LaoPo

[newbepat]

Thanks, I will do that.

Pat

[LaoPo]

Thanks, I will do that.

Pat

I applaud you decision!

Pat, If I would need advise, and I did many times in my life, I go to people who know their stuff and I would NEVER ask questions on a forum.

When I started businesses in Canada and the US, Hong Kong, China and a long time ago in Thailand also, I went straight to large accountants firms who know how to deal with the (local and international) situation -and taxes-, you as a person/individual or company are into.

Such advise doesn't come cheap but try to limit your questions to them and tell them:

1. I have this amount of money: xxx

2. I don't want to lose my money; how do I avoid -eventual- taxes?

3. were do I "park" my money if I live in Thailand?

4. should I invest in a conservative way or "play" with a certain percentage?

You mentioned 2 locations already: go to the people who know their stuff in those countries.

Only AFTER you receive such advise...decide for yourself WHAT and HOW to do next.

But, don't start sponsoring a Thai, no matter how much you (think) love your partner; stay low-profile end enjoy your life.

Do NOT bring (the major part of) your money into Thailand! Just enjoy the country and it's people.

Good luck and NEVER let Thai and Farang people in Thailand know how much you're worth..........!

LaoPo

Edited February 10, 2011 by LaoPo

[newbepat]

Thanks

Good advice

Much Appreciated

Pat :jap:

[Naam]

Tomorrow when i take my bank draft cheque from the bank should i change into OZ dollars then get on a plane for Australia ?

what is your problem? reading or understanding?

[newbepat]

Tomorrow when i take my bank draft cheque from the bank should i change into OZ dollars then get on a plane for Australia ?

what is your problem? reading or understanding?

You have got that in one,

You see Naam I am Dyslexia

Are you happy now?

its very interesting you tell me i am a fool i should be getting 6 to 10% yet you say you accept 4%

I rest my case

Pat

[stander]

Tomorrow when i take my bank draft cheque from the bank should i change into OZ dollars then get on a plane for Australia ?

what is your problem? reading or understanding?

You have got that in one,

You see Naam I am Dyslexia

Are you happy now?

its very interesting you tell me i am a fool i should be getting 6 to 10% yet you say you accept 4%

I rest my case

Pat

Pat

There is a lot of good advice in this thread, but unfortunately some people have a "know it all" attidude and inevitable the threads they get involved end up with bickering.

[newbepat]

I see that, I take onboard the good points and I forget about the bad ones.

I am never rude to anybody but still they like to make rude remarks and not stick to the topic

[newbepat]

Thanks to one and all for your time,advise and comments

I would like to ask the Admin or Moderator to kindly delete this topic now

Kind Regards

Pat

[pjclark1]

Tomorrow when i take my bank draft cheque from the bank should i change into OZ dollars then get on a plane for Australia ?

what is your problem? reading or understanding?

You have got that in one,

You see Naam I am Dyslexia

Are you happy now?

its very interesting you tell me i am a fool i should be getting 6 to 10% yet you say you accept 4%

I rest my case

Pat

Don't worry about Naam, no-one else does.

We just accept we can never match his supreme financial intellect.

[Tolley]

If you cannot average over 10 percent return after tax using value investing methods I would be very surprised.

what tax? this thread is about a European retiring in Thailand. retirees can draw their offshore income tax free if they are not slaves of the IRS.

In that case they should be able to do better than 10 percent

it takes more than reading a book or two about Buffet et al and average >10% returns in the long run. that applies especially to those who are either not willing to take risks or the size of their capital does not allow them to take any risk.

You don't sound like you are familiar with Buffets methods.

Buffet is in fact very risk adverse.

He is the most conservative of investors because as a value investor he ignores 90 percent of the stock market.

He looks for companies with low levels of debt,barriers to entry for other competitors, high return on equity increasing over time, strong cash flow, proven track record.

Neither do you need a large amount of capital. All you need is enough capital to start buying shares.

What you do need to do is research. You have to take control of you own investments. I only hold three stocks in the Australian stock market and none of them are on the ASX200 they are all mid caps but they have performed exceptionally well.

You don't even need to look at the market everyday and you don't need to trade. You just need patience and when the reporting season is on you need to reasses the value of the companies that you hold based on their results and forecasts.