GuestHouse Posted December 12, 2005 Share Posted December 12, 2005 Recently Redundant. Recently Bereaved, Recently Divorced. The best advice is CONSOLIDATE get back into your normal life, get back to work, get saving and give yourself time to think. If GBP100K is all your life's savings then the very last thing you should be doing is bringing them to Thailand - YOU WILL LOOSE YOUR MONEY. OK. I might be wrong in a very very few cases, but the general rule is true - Don't bring money to Thailand you can't afford to loose. None of us can afford to loose our life's savings. I also think 43 is the age you should be making money, not the age to spend money. Link to comment Share on other sites More sharing options...
Guest endure Posted December 12, 2005 Share Posted December 12, 2005 I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert <{POST_SNAPBACK}> I believe the UK Pensions Commission recently voiced a proposed gradual rise in the pension age to 68, possibly 69. People seem to be selfishly living too long... Edit: That remark is not directed at you Albert in any way, I am commenting on the con the British government has perpetrated on people who thought their contributions were 'invested' for their future retirement needs. That has never been the case as pension payments have always been made from new contributions and any surplus spent on whatever. The problem now is that new contributions cannot match the outgoings. Also, to penalize people living abroad by freezing their pension is scandalous in my view. <{POST_SNAPBACK}> What's even more scandalous is that it's not universal - it appears to be entirely random. If you retire to Barbados you get the annual increases - you don't if you choose the Bahamas. European Union & US get an increase, Australia, Canada, South Africa & NZ don't. Link to comment Share on other sites More sharing options...
Noel Posted December 12, 2005 Share Posted December 12, 2005 Recently Redundant. Recently Bereaved, Recently Divorced.The best advice is CONSOLIDATE get back into your normal life, get back to work, get saving and give yourself time to think. If GBP100K is all your life's savings then the very last thing you should be doing is bringing them to Thailand - YOU WILL LOOSE YOUR MONEY. OK. I might be wrong in a very very few cases, but the general rule is true - Don't bring money to Thailand you can't afford to loose. None of us can afford to loose our life's savings. I also think 43 is the age you should be making money, not the age to spend money. <{POST_SNAPBACK}> Sound advice above, as were the comments of Derekley, supported by The Dude. GH's last comment also most certainly applies if you have not already made your money and do not have sound future income streams in place. Once you start spending capital, there is only one way to go in the spiral and it will not be up. Never burn your bridges in other than the absolute last resort. Link to comment Share on other sites More sharing options...
rishi Posted December 12, 2005 Share Posted December 12, 2005 I know that if i was to ask the forum a question like would i be able to buy a small house and buy into a small bar and live, with this kind of money. Then answer would be collosal with so many things and pitfalls to think about. But in general would a dream like this be possible or would i need a lot more financial clout and still need income from abroad. <{POST_SNAPBACK}> ... it appears to me that the major tendency of the advices given here, suggests that you wait a few more years before settling for an early retirement in Thailand... This, I believe, is probably owed to the fact that your question sort of indicates a wish of an early retirement. However, where's the entrepreneur spirit? ... This guy is 43 years old and can raise a capital of about 7 million baht.... I'd call that a pretty good starting point !!! Thailand might be the land of many a foreigner's broken dream, but it also is the land of many a foreigner's dream come true... A lot of things depend on spirit, however ... Link to comment Share on other sites More sharing options...
Gary A Posted December 12, 2005 Share Posted December 12, 2005 He is now or should be at his peak earning age. At 43 he should be able to find another good job if he is made redundant. If he were to sell out and take the leap and things didn't work out he would be in his fifties. Just try to find a decent job when you are over fifty. Age discrimination? YOU BET! QUOTE However, where's the entrepreneur spirit? ... This guy is 43 years old and can raise a capital of about 7 million baht.... Link to comment Share on other sites More sharing options...
GuestHouse Posted December 12, 2005 Share Posted December 12, 2005 This guy is discussing (and he is discussing, so alternative views are allowed) moving to Thailand with his life's savings and going into business in what is accepted as perhaps the most risky of businesses for a foreigner to go into. The advice not to bring money into Thailand that you cannot afford to loose is sound. I know of nobody in their forties who can afford to loose their life's savings. As for businesses that are sucessful. I'd like to see the actual figures for start-ups that go/fail in Thailand - I suspect it makes depressing reading. (I would love to be proven wrong). But here is another observation. Businesses that do well, do so because of their hardwork/imagination/flare etc of the person who starts the business (and their staff). The actual amount of start-up capital, is not a significant factor in sucess. e.g. Richard Branson started with GBP100, a carboard box full of tapes/records and the use of a public phone box outside Reading Station. If an idea is going to make money, it needs hard work - not your life's savings. Link to comment Share on other sites More sharing options...
rishi Posted December 12, 2005 Share Posted December 12, 2005 ... hard work plus willingness to take a risk ... If one - in his forties - worry whether he will have sufficient money to rest assured for all the remainder of his life --- I agree, don't ever leave your nest ... Even if you were a multi-billionaire, in Thailand you'd still have to figure out the cumbersome affair on how and where to get the proper licence to get burned, burried or whatever when you die. Link to comment Share on other sites More sharing options...
GuestHouse Posted December 12, 2005 Share Posted December 12, 2005 Its not about taking risks Rishi, its about taking measured risks. As I say, I would be delighted to hear that the rates of sucess for foreigner start-ups in Thailand even match the failures - I suspect very few break even and most spiral into debt. The advice I, and others have given, are cautionary, they are not anti risk, they are anti being ripped off. Link to comment Share on other sites More sharing options...
dereklev Posted December 12, 2005 Share Posted December 12, 2005 I know that if i was to ask the forum a question like would i be able to buy a small house and buy into a small bar and live, with this kind of money. Then answer would be collosal with so many things and pitfalls to think about. But in general would a dream like this be possible or would i need a lot more financial clout and still need income from abroad. ... it appears to me that the major tendency of the advices given here, suggests that you wait a few more years before settling for an early retirement in Thailand... This, I believe, is probably owed to the fact that your question sort of indicates a wish of an early retirement. However, where's the entrepreneur spirit? ... This guy is 43 years old and can raise a capital of about 7 million baht.... I'd call that a pretty good starting point !!! Thailand might be the land of many a foreigner's broken dream, but it also is the land of many a foreigner's dream come true... A lot of things depend on spirit, however ... Read what the OP says again! ! SMALL house, SMALL bar......nothing entrepreneurial in those words.... Link to comment Share on other sites More sharing options...
astral Posted December 13, 2005 Share Posted December 13, 2005 (edited) TizMe, are you pissed, or just pissed off that you are in OZ at the moment It was Andys first post mate. You are normally a little bit more reserved than this And at least you managed to get back to OZ this year, I have to wait until next November <{POST_SNAPBACK}> TixMe asked all the right questions that this guy will have to consider. Whoever said life is easy. PS 40,000 a month is only just enough for a Non Imm O (married) visa, and IMHO barely enough to live on. The running costs for a Thai wife are high. Edited December 13, 2005 by astral Link to comment Share on other sites More sharing options...
rishi Posted December 13, 2005 Share Posted December 13, 2005 Small bar? It won't be difficult to find an existing, fully operational one for sale - try e.g. www.sunbeltasia.com. Prizes, for the small ones, varies from about 200,000 baht to about 2,000,000 baht - reasonable depending on the (claimed) profit. Measured risk? Buy one at 2-300,000 baht and see if you can make the promised 10-20,000 a month profit... After some time you'll be much wiser on what to do next. Link to comment Share on other sites More sharing options...
RamdomChances Posted December 13, 2005 Share Posted December 13, 2005 The Dude has read all of the advice given here thus far and would discard a good deal of it. Far and away the sanest, realistic and most solid advice is that of Dereklev. The Dude digs his advice so much that he feels he needs not post his own. I hand out a shovel to the OP to dig this advice also and take heed. On this advice: Learn it, know it, live it. Cheers <{POST_SNAPBACK}> Your right it's good sound, sane,safe advice. It's the sort of advice that I would of given myself when I was thinking about coming out here (it's also the advice everyone else gave me), the sort of advice your bank manager would give you for better or worse I did'nt listen though and came anyway and many other people do. Nothing in life is certian, there are people that have came here with less and made a good life for themselfs, although there are many, many more who have came and lost it all. Some people will take a risk, others want cast iron garenties Fortunatly I dont have to rely on the UK gov pension, but I still cant touch mine for an other 15 years. RC <{POST_SNAPBACK}> Thanks The Dude, I 100% do not think that someone aged 43 can sell their home in the UK be left with 100,000 pounds and expect to live a good life out here on the proceeds. Random sure my advice is not to everyones liking but by the time th OP had blown his money he would be homeless and with very little chance of employment back home in the UK! ! By the way Random did I come across to you as a Bank Manager when we met at Richard's (Cheeky Farang) party....... <{POST_SNAPBACK}> No mate, you did'nt come across "bank managerish " and I do actually agree with you thats it's not the best idea and the chances are that he'll lose a lot of money. Some people do come here and make it with less than that, but for every sucess there loads of failours. RC Link to comment Share on other sites More sharing options...
~G~ Posted December 13, 2005 Share Posted December 13, 2005 Measured risk?Buy one at 2-300,000 baht and see if you can make the promised 10-20,000 a month profit... After some time you'll be much wiser on what to do next. <{POST_SNAPBACK}> Great idea! In the worse case you can sell it to the next "fed up with europe - coming to thailand to marry the gf in phuket" farang for the same price or higher! Does someone know if sunbelt take the same comission if selling the same property twice? Link to comment Share on other sites More sharing options...
astral Posted December 14, 2005 Share Posted December 14, 2005 The problem with renting out is I fear he still has a mortgage to pay and that would take the majority of his rental money. I base this assumption on the fact he says he will have 100, 000 after selling his house. <{POST_SNAPBACK}> A mortgage is an advantage. He can claim the interest payments against tax on the rental. Those people renting out property get a better deal than those who live in the house they own. The pension will be fixed a the date he retires, no increments. A Conservative deal not Labour, but endorsed by Labour. Mind you, but the time he gets there , there may not be a pension at 65. Somthing for us all to watch. I have 7 years to go. Link to comment Share on other sites More sharing options...
albert dickinson Posted December 14, 2005 Share Posted December 14, 2005 I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert <{POST_SNAPBACK}> It's a bit disheartening to read it, but thank you for your reply, sir. I suppose that's what my friend was referring to (the freezing of the rate) as he's been here 14 years and received a "pittance" compared to what he would have received in the UK. I recall his also wondering outloud if there was any sort of organized protest against this discriminating practice, although he finished that by saying, "by God, not likely with those crooked politicians." Gotta luv the Brits... <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
albert dickinson Posted December 14, 2005 Share Posted December 14, 2005 I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert <{POST_SNAPBACK}> It's a bit disheartening to read it, but thank you for your reply, sir. I suppose that's what my friend was referring to (the freezing of the rate) as he's been here 14 years and received a "pittance" compared to what he would have received in the UK. I recall his also wondering outloud if there was any sort of organized protest against this discriminating practice, although he finished that by saying, "by God, not likely with those crooked politicians." Gotta luv the Brits... <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
oopapasan Posted December 14, 2005 Share Posted December 14, 2005 I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert <{POST_SNAPBACK}> It's a bit disheartening to read it, but thank you for your reply, sir. I suppose that's what my friend was referring to (the freezing of the rate) as he's been here 14 years and received a "pittance" compared to what he would have received in the UK. I recall his also wondering outloud if there was any sort of organized protest against this discriminating practice, although he finished that by saying, "by God, not likely with those crooked politicians." Gotta luv the Brits... <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
sriracha john Posted December 14, 2005 Share Posted December 14, 2005 verbalizing into the microphone: "Testing??... testing??.... Hello?? Is this thing on??" The Previous Three Posts: Gotta luv these computer thingys, eh guys? I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert <{POST_SNAPBACK}> It's a bit disheartening to read it, but thank you for your reply, sir. I suppose that's what my friend was referring to (the freezing of the rate) as he's been here 14 years and received a "pittance" compared to what he would have received in the UK. I recall his also wondering outloud if there was any sort of organized protest against this discriminating practice, although he finished that by saying, "by God, not likely with those crooked politicians." Gotta luv the Brits... <{POST_SNAPBACK}> <{POST_SNAPBACK}> I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert <{POST_SNAPBACK}> It's a bit disheartening to read it, but thank you for your reply, sir. I suppose that's what my friend was referring to (the freezing of the rate) as he's been here 14 years and received a "pittance" compared to what he would have received in the UK. I recall his also wondering outloud if there was any sort of organized protest against this discriminating practice, although he finished that by saying, "by God, not likely with those crooked politicians." Gotta luv the Brits... <{POST_SNAPBACK}> <{POST_SNAPBACK}> I would like to disclose a few facts about pensions from the UK government.I am 81 years of age I have lived in Thailand for the last 10 years. My pension has been frozen since ileft the UK at 58 pounds a week.I am only one of half a million of us world wide who's pensions remain frozen. Albert <{POST_SNAPBACK}> It's a bit disheartening to read it, but thank you for your reply, sir. I suppose that's what my friend was referring to (the freezing of the rate) as he's been here 14 years and received a "pittance" compared to what he would have received in the UK. I recall his also wondering outloud if there was any sort of organized protest against this discriminating practice, although he finished that by saying, "by God, not likely with those crooked politicians." Gotta luv the Brits... <{POST_SNAPBACK}> <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
~G~ Posted December 15, 2005 Share Posted December 15, 2005 THE FOLLOWING ERROR(S) WERE FOUND You have posted a message with more emoticons that this board allows. Please reduce the number of emoticons you've added to the message Link to comment Share on other sites More sharing options...
albert dickinson Posted December 15, 2005 Share Posted December 15, 2005 THE FOLLOWING ERROR(S) WERE FOUNDYou have posted a message with more emoticons that this board allows. Please reduce the number of emoticons you've added to the message <{POST_SNAPBACK}> I don't know what this message aplies to.I never use emiticons or any other of the crap.My messages are straight forward replies Albert Link to comment Share on other sites More sharing options...
lopburi3 Posted December 15, 2005 Share Posted December 15, 2005 THE FOLLOWING ERROR(S) WERE FOUNDYou have posted a message with more emoticons that this board allows. Please reduce the number of emoticons you've added to the message <{POST_SNAPBACK}> I don't know what this message aplies to.I never use emiticons or any other of the crap.My messages are straight forward replies Albert <{POST_SNAPBACK}> I believe he was talking about post #48 rather than anything you have posted (but admit it is hard to know for sure). Link to comment Share on other sites More sharing options...
albert dickinson Posted December 15, 2005 Share Posted December 15, 2005 THE FOLLOWING ERROR(S) WERE FOUNDYou have posted a message with more emoticons that this board allows. Please reduce the number of emoticons you've added to the message <{POST_SNAPBACK}> I don't know what this message aplies to.I never use emiticons or any other of the crap.My messages are straight forward replies Albert <{POST_SNAPBACK}> I believe he was talking about post #48 rather than anything you have posted (but admit it is hard to know for sure). <{POST_SNAPBACK}> lopburi 3 thank you for trying to explain.i only sent one reply and no emiticons.still mystified Link to comment Share on other sites More sharing options...
Gary A Posted December 16, 2005 Share Posted December 16, 2005 You have to be careful what you buy. My wife is a high performance low maintenance model. TizMe, are you pissed, or just pissed off that you are in OZ at the moment It was Andys first post mate. You are normally a little bit more reserved than this And at least you managed to get back to OZ this year, I have to wait until next November <{POST_SNAPBACK}> TixMe asked all the right questions that this guy will have to consider. Whoever said life is easy. PS 40,000 a month is only just enough for a Non Imm O (married) visa, and IMHO barely enough to live on. The running costs for a Thai wife are high. <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
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