I've been denied entry to Thailand - Now What ! ?

[newbepat]

Can I ask the experts on Thaivisa

Is the euro finished and what should we do with our euros

I am 63 and retired I am planning to come to Thailand

I get the state pension, I don't have any other pension to draw down

I do have a lump sum from the proceeds of selling property in the good times

Half my euros are locked in for another 10 weeks (bank deposit accounts)

I am thinking of changeing my euros for Canadian Dollars

any advice would be appreciated

Pat

[trd]

Are you serious? Experts on ThaiVisa? Please don't listen to advice given out on this forum regarding your personal finances. I trade currencies intraday - the euro specifically, and I have no idea which way it will be going tomorrow, let alone next month or next year. Good luck to you.

[snuggzzz]

Whilst I agree with the previous post, I really think that the EURO is destined to fail with too many individual economies being up to there necks and beyond, in debt.

[12DrinkMore]

You have to carefully consider all advice around here. And it depends on how many EUR's you have available.

Number 1: Set a budget.

I would move enough money into Thai Baht to ensure that I could cover my annual expenses for the next five years at least. At the moment I personally have much more than that, because I think the THB will get stronger and the interest rates are going to increase. But as a minimum the 800,000 for your retirement visa and a couple of years' expenses on top.

Then I would look at the SGD, no interest to talk of, but I expect the currency to remain solid.

After that maybe the CAD or AUD for some income.

However the best advice I can give is to not go down the route of buying property or building a house on a piece of dirt. Find a nice area where you can live, with people you can get on with, not dictated by a Thai feline. Then rent a decent house and be ready to move if there are any problems. Maximum loss maybe three months' rent.

Save money and don't come and splash out because it "looks cheap".

And then back to number 1, stay well within your budget.

Enjoy your retirement.

[aussiebebe]

I really like the post from trd - there are no experts here lol. And the comments from 12DrinkMore are spot on, I would only add that the OP at 63 is looking at a long retirement and it's quite easy to get bored or disillusioned with Thailand and can be far harder to move home than it ever was to leave. It's good cashing out on property but always keep in mind the potential to move back. You don't want to be stuck here in limbo. I don't know which country you are from but I don't think the Euro is doomed so see whether you could use your savings to boost your state pension in any way. In some countries you can contribute more and/or for longer.

[WilliaminBKK]

I'm Canadian/Brit and I remember buying a USD for 1.55 and now it is .92 to the Canadian dollar, yes Canada seems to be weathering the storm very well but who knows if and when the bubble could burst.

My Grandmother used to say if the US sneezes Canada catches the cold.

[cloudhopper]

Please don't listen to advice given out on this forum regarding your personal finances.

Good advice. The suggestion of having say a year's worth of estimated expenses in THB handy was also good advice IMO. There is a very liquid gold trade here too when should the whole global fiat currency thing end badly.

It would appear from the linked article there is some good reason for your concerns re the euro Pat.

http://globaleconomicanalysis.blogspot.com/2011/08/bailout-of-italy-on-tap-ecb-to-become.html

[beano2274]

I looked at the CHF, the other day it was selling at Superrich at 36.45, now at 38.50, they are buying at 38.30

[midas]

Is the euro finished and what should we do with our euros "

this might help you decide

Europe Getting Smashed, US Futures Slide, As European Commission President Basically Admits Defeat

Read more: http://www.businessinsider.com/barroso-gives-up-on-eu-bailout-2011-8#ixzz1U43hHyq9

[swisstouristpattaya]

i have money in swiss francs, i keep an eye on the change. now near 39when last year it was 29.30 % increase...

here what i think:

1US=0.5 CHF ,it wont go lower. now 0.77

1 euro= 1 franc now 1.07

40 bats=1 CHF now 38.8

then market will go better in 1-2 weeks and will finish positively end of 2011.

so no panik.keep :jap:zen!

no Euro is not doomed,US is doomed.

what will happen if no euro,come back to national money, lire, francs, deutsschmark,pound()?

or peanuts?

Edited August 5, 2011 by swisstouristpattaya

[vincentc]

Actually the only currency worth buying these days with your EUR are USD....

[Naam]

Actually the only currency worth buying these days with your EUR are USD....

[Naam]

here what i think:

1US=0.5 CHF ,it wont go lower. now 0.77

CHF doesn't care what you think. presently 0.7595

[midas]

Actually the only currency worth buying these days with your EUR are USD....

yes indeed vincentc I guess it was time for some humour on this thread

[Naam]

here what i think:

1US=0.5 CHF ,it wont go lower. now 0.77

CHF doesn't care what you think. presently 0.7595

0.7541