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A Million Dollars Net Worth In Thailand


DonW

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Hello Room,

Some facts:

I am a 38 year old Brit, but I am bored shitless in the UK, and want to move to Thailand. I am married to a Thai women and have been for many years. I've got a profession (and an income of about 45K) though I am not sure I can do what I do in Thailand and other than than , I am just another over qualified farang in Thailand, I've met 100s over the years.

I want to work (teaching English FT doesn't interest me but I'd happily do a few hours in a school for poor kids).

I don't have to work as, fortunately, I have a million USD in property, savings and investments which I try very hard to never touch though I could if I had to, it gives me security and peace of mind. Problem is it also makes me a bit lazy knowing that I dont have to work because, at my core, I am a lazy, unmotivated bastard unless my heart is totally in it, then I am driven, really driven.

I like to work for my supper but, as I said, I need to be into what I doing. And my fear is that I will just be in the bars too much if I dont have a project of sorts.

So, two question....what would YOU do in my situation and what do you think I should do?

Thanks

PS I lived in Thailand from 96-02 and my Thai was pretty good. Its a bit rusty now but I can still spend weeks with the relatives and not need to speak English.

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I have a million USD in property, savings and investments

The key word is liquidity and the investment mix. I too have a lot of cash, but it pays less than 2% in interest. After tax, I have nothing much., at least not like back in the good old days where I was getting 5%.

Personally, I dont think you have enough of an income to make a go of it in Thailand. Oh sure, there are some that can, but they are at an age where they can draw down on the assets. You are young and should not. The other factor is to consider is your comfort level. If you want a decent standard of living (AC, western toilet, comfortable accomodations, the ability to do as you want like going into the supermarket and buying without concern for the cost) then you had better budget accordingly and determine if you will have the income to support the lifestyle.

It's a personal choice, and one which I would not do. I'm probably wealthier than than the typical TVFer, but I maintain a conservative approach to investments and spending. I won't retire until I have a much larger investment portfolio because I believe that the economy is about to nosedive after the US and German elections. I am risk averse, but there are others that can live with the risk and that are quite happy to live on a shoestring budget or not worry about income. You have to decide what your mental health can sustain. A 65 year old with a modest investment portfolio and pensions is in a much better position to retire than a young person, eeven if the younger person has lots of money.

No one can give you the answer you want. The best that you will be told is to make your decision based upon the stress you can handle and the lifestyle you want.

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what would YOU do in my situation

Learn how to troll a bit more convincingly.

You have the wrong person, I am not troll. If you dont wish to add anything then no worries. I dont know you, you dont know me. Its all anonymous.

I notice you have two posts. Clearly an addict not wanting to say as much in his own user name. How very strange.

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Last time it was an American guy with a million dollars, now it a UK guy with a million dollars. I think the million dollars gets around quite a bit.

Sent from my GT-P6200 using Thaivisa Connect App

This is beyond me! What benefit could I possibly gain by coming onto an anonymous website and pretending to have a million USD? That would be inane and indicative of some kind of mental issue. Trust me, if I want giggles, I wouldn't be playing such games.

Simply, if you dont wish to engage on the thread there are millions more on the net which may be more to your liking.

What a strange post to make, ggold

Edited by DonW
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I have a million USD in property, savings and investments

The key word is liquidity and the investment mix. I too have a lot of cash, but it pays less than 2% in interest. After tax, I have nothing much., at least not like back in the good old days where I was getting 5%.

Personally, I dont think you have enough of an income to make a go of it in Thailand. Oh sure, there are some that can, but they are at an age where they can draw down on the assets. You are young and should not. The other factor is to consider is your comfort level. If you want a decent standard of living (AC, western toilet, comfortable accomodations, the ability to do as you want like going into the supermarket and buying without concern for the cost) then you had better budget accordingly and determine if you will have the income to support the lifestyle.

It's a personal choice, and one which I would not do. I'm probably wealthier than than the typical TVFer, but I maintain a conservative approach to investments and spending. I won't retire until I have a much larger investment portfolio because I believe that the economy is about to nosedive after the US and German elections. I am risk averse, but there are others that can live with the risk and that are quite happy to live on a shoestring budget or not worry about income. You have to decide what your mental health can sustain. A 65 year old with a modest investment portfolio and pensions is in a much better position to retire than a young person, eeven if the younger person has lots of money.

No one can give you the answer you want. The best that you will be told is to make your decision based upon the stress you can handle and the lifestyle you want.

I agree about not drawing on the assets and that has always been the plan ...I am not a big spender at all and neither is the wife. Essentially, my tastes and comforts are such that I can live on 50k though 100k Thai baht a month is more to my liking.

As for interest, the best I can do now is 4% before tax in the UK and I agree, the 5% no risk before tax just isnt there now (though I think you can squeeze 4.5% before tax and go non-resident).

Good advice, thanks. I too dont want to risk my capital, it was too hard come by!

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I have a million USD in property, savings and investments

The key word is liquidity and the investment mix. I too have a lot of cash, but it pays less than 2% in interest. After tax, I have nothing much., at least not like back in the good old days where I was getting 5%.

Personally, I dont think you have enough of an income to make a go of it in Thailand. Oh sure, there are some that can, but they are at an age where they can draw down on the assets. You are young and should not. The other factor is to consider is your comfort level. If you want a decent standard of living (AC, western toilet, comfortable accomodations, the ability to do as you want like going into the supermarket and buying without concern for the cost) then you had better budget accordingly and determine if you will have the income to support the lifestyle.

It's a personal choice, and one which I would not do. I'm probably wealthier than than the typical TVFer, but I maintain a conservative approach to investments and spending. I won't retire until I have a much larger investment portfolio because I believe that the economy is about to nosedive after the US and German elections. I am risk averse, but there are others that can live with the risk and that are quite happy to live on a shoestring budget or not worry about income. You have to decide what your mental health can sustain. A 65 year old with a modest investment portfolio and pensions is in a much better position to retire than a young person, eeven if the younger person has lots of money.

No one can give you the answer you want. The best that you will be told is to make your decision based upon the stress you can handle and the lifestyle you want.

I agree about not drawing on the assets and that has always been the plan ...I am not a big spender at all and neither is the wife. Essentially, my tastes and comforts are such that I can live on 50k though 100k Thai baht a month is more to my liking.

As for interest, the best I can do now is 4% before tax in the UK and I agree, the 5% no risk before tax just isnt there now (though I think you can squeeze 4.5% before tax and go non-resident).

Good advice, thanks. I too dont want to risk my capital, it was too hard come by!

If you're invested in dollars you should be worried. The way the US is printing them to pay bills, and with a national deficit and debt and unfunded liabilities around $100 trillion, and with the economy still tanking...

Also you need to investigate what type of work you can do in Thailand. The government has no tolerance for foreigners taking any job that a Thai can do. You need a work permit which is nearly impossible unless you work for a multinational company and do something a Thai can't do. Your other option is to teach English if you qualify. People I know who are doing that average around US$1200 doing that. You can live on that if you don't expect the same lifestyle you have now, but you won't save much for retirement.

It's very possible if not probable that US$1 million will just buy a loaf of bread in about ten years. It's very possible that the West could collectivelly crash into the toilet from deficits and debt and a shrinking economy, taking the emerging economies with them.

Don't forget that there are already a lot of expats in Thailand who are barely making it, and have no where to go.

I'm moving to Thailand next year but I'm in my 60's with full retirement and savings. I've literally budgeted US$50,000 to get landed. That's without buying a condo. (And don't forget you can't own land.) Cars are horribly expensive and I'll buy one. I'll buy a scooter. I'll pay the cost of renting and setup. I'll pay my airfare, my retirement visa costs and my driver's license and insurance and so on. Day one I get a cell phone and rent a scooter. Day two I start looking for a place to rent. All the while I'm working hard on my visa and other licenses and permits.

I think you're dreaming, if you're real.

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If you're invested in dollars you should be worried. The way the US is printing them to pay bills, and with a national deficit and debt and unfunded liabilities around $100 trillion, and with the economy still tanking...

Also you need to investigate what type of work you can do in Thailand. The government has no tolerance for foreigners taking any job that a Thai can do. You need a work permit which is nearly impossible unless you work for a multinational company and do something a Thai can't do. Your other option is to teach English if you qualify. People I know who are doing that average around US$1200 doing that. You can live on that if you don't expect the same lifestyle you have now, but you won't save much for retirement.

It's very possible if not probable that US$1 million will just buy a loaf of bread in about ten years. It's very possible that the West could collectivelly crash into the toilet from deficits and debt and a shrinking economy, taking the emerging economies with them.

Don't forget that there are already a lot of expats in Thailand who are barely making it, and have no where to go.

I'm moving to Thailand next year but I'm in my 60's with full retirement and savings. I've literally budgeted US$50,000 to get landed. That's without buying a condo. (And don't forget you can't own land.) Cars are horribly expensive and I'll buy one. I'll buy a scooter. I'll pay the cost of renting and setup. I'll pay my airfare, my retirement visa costs and my driver's license and insurance and so on. Day one I get a cell phone and rent a scooter. Day two I start looking for a place to rent. All the while I'm working hard on my visa and other licenses and permits.

I think you're dreaming, if you're real

.

]

Thats an interesting post, thank you.

Dollars have worked well for me. I invested my sterling into dollars when it was at nearly 1:2 now I am seeing 1:1.65. I will get out of dollars but not just yet.

I am considering what I can/will do in Thailand. I have another thread on this. Aside, from that thread, I am experienced practically in business and also have an advanced business degree which the Thais respect. I would not teach English. I had a work permit from 96-02 though I didnt work for a multinational.

The million:bread concept - I dont think that we can consider such things otherwise the world and our futures breaks down. Equally I could get hit by a falling plane, I dont plan for such things,

I don't need to plan for retirement, I think my capital if untouched will grow and cater to that.

What permits and licenses are you looking for?

Yes, I am real but why do you think I am dreaming?

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Put the million in a managed fund that is invested in blue chip Australian shares. 6% per annum, and very little currency risk for the forseeable future.

Anybody who is relatively young and contemplating retirement needs to put their money into growth assets, and in particular, assets whose underlying income will continue to grow.

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I have a million USD in property, savings and investments

The key word is liquidity and the investment mix. I too have a lot of cash, but it pays less than 2% in interest. After tax, I have nothing much., at least not like back in the good old days where I was getting 5%.

Personally, I dont think you have enough of an income to make a go of it in Thailand. Oh sure, there are some that can, but they are at an age where they can draw down on the assets. You are young and should not. The other factor is to consider is your comfort level. If you want a decent standard of living (AC, western toilet, comfortable accomodations, the ability to do as you want like going into the supermarket and buying without concern for the cost) then you had better budget accordingly and determine if you will have the income to support the lifestyle.

It's a personal choice, and one which I would not do. I'm probably wealthier than than the typical TVFer, but I maintain a conservative approach to investments and spending. I won't retire until I have a much larger investment portfolio because I believe that the economy is about to nosedive after the US and German elections. I am risk averse, but there are others that can live with the risk and that are quite happy to live on a shoestring budget or not worry about income. You have to decide what your mental health can sustain. A 65 year old with a modest investment portfolio and pensions is in a much better position to retire than a young person, eeven if the younger person has lots of money.

No one can give you the answer you want. The best that you will be told is to make your decision based upon the stress you can handle and the lifestyle you want.

I agree about not drawing on the assets and that has always been the plan ...I am not a big spender at all and neither is the wife. Essentially, my tastes and comforts are such that I can live on 50k though 100k Thai baht a month is more to my liking.

As for interest, the best I can do now is 4% before tax in the UK and I agree, the 5% no risk before tax just isnt there now (though I think you can squeeze 4.5% before tax and go non-resident).

Good advice, thanks. I too dont want to risk my capital, it was too hard come by!

If you're invested in dollars you should be worried. The way the US is printing them to pay bills, and with a national deficit and debt and unfunded liabilities around $100 trillion, and with the economy still tanking...

It's very possible if not probable that US$1 million will just buy a loaf of bread in about ten years. It's very possible that the West could collectivelly crash into the toilet from deficits and debt and a shrinking economy, taking the emerging economies with them.

Don't worry NeverSure, I already have 30 trillion USD saved up. I might throw you a few bread crumbs from my million dollar bread loaf in 2022 if you're hungry.

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Last time it was an American guy with a million dollars, now it a UK guy with a million dollars. I think the million dollars gets around quite a bit.

Sent from my GT-P6200 using Thaivisa Connect App

Yeah yank saying a million dollars ..ok. A Brit saying anything in dollars I don't think so £s my friend u really got a way with it close this nonsense ..

Sent from my iPad using ThaiVisa app

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Thats an interesting post, thank you.

Dollars have worked well for me. I invested my sterling into dollars when it was at nearly 1:2 now I am seeing 1:1.65. I will get out of dollars but not just yet.

I am considering what I can/will do in Thailand. I have another thread on this. Aside, from that thread, I am experienced practically in business and also have an advanced business degree which the Thais respect. I would not teach English. I had a work permit from 96-02 though I didnt work for a multinational.

The million:bread concept - I dont think that we can consider such things otherwise the world and our futures breaks down. Equally I could get hit by a falling plane, I dont plan for such things,

I don't need to plan for retirement, I think my capital if untouched will grow and cater to that.

What permits and licenses are you looking for?

Yes, I am real but why do you think I am dreaming?

i gave you the benefit of doubt when others called you a troll. even now i don't think you are a troll because most trolls are not as ignorant as somebody who claims that an exchange rate loss of 37.5% justifies to say "Dollars have worked well for me".

How is it a loss?

If he changes it back into UK Pounds now, he will have made a 20% profit.

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Spend it all on hookers beer and other naughty stuff.

Fall in love with a girl who you luckily meet on her first night as a waitress in a gogo bar, provide medical care for her sick buffalo's build them all a house then realise her brother is actually her husband.

Then as your young start again and volia you have the motivation you stated you was lacking

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Ah, I see your mistake now.

Understandable as it wasn't written very clearly.

"I invested my sterling into dollars when it was at nearly 1:2 now I am seeing 1:1.65."

He bought US$ when $:GBP was 1:2, ie 2$ for 1GBP. 500,000 GBP would buy 1 million $.

If he sold those $ now at 1:1.65, he would receive just over 600,000 GBP. A profit of 20%

missing reading glasses Loong. one of my dogs must have borrowed them wai.gif

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I have a million USD in property, savings and investments

The key word is liquidity and the investment mix. I too have a lot of cash, but it pays less than 2% in interest. After tax, I have nothing much., at least not like back in the good old days where I was getting 5%.

Personally, I dont think you have enough of an income to make a go of it in Thailand. Oh sure, there are some that can, but they are at an age where they can draw down on the assets. You are young and should not. The other factor is to consider is your comfort level. If you want a decent standard of living (AC, western toilet, comfortable accomodations, the ability to do as you want like going into the supermarket and buying without concern for the cost) then you had better budget accordingly and determine if you will have the income to support the lifestyle.

It's a personal choice, and one which I would not do. I'm probably wealthier than than the typical TVFer, but I maintain a conservative approach to investments and spending. I won't retire until I have a much larger investment portfolio because I believe that the economy is about to nosedive after the US and German elections. I am risk averse, but there are others that can live with the risk and that are quite happy to live on a shoestring budget or not worry about income. You have to decide what your mental health can sustain. A 65 year old with a modest investment portfolio and pensions is in a much better position to retire than a young person, eeven if the younger person has lots of money.

No one can give you the answer you want. The best that you will be told is to make your decision based upon the stress you can handle and the lifestyle you want.

I agree about not drawing on the assets and that has always been the plan ...I am not a big spender at all and neither is the wife. Essentially, my tastes and comforts are such that I can live on 50k though 100k Thai baht a month is more to my liking.

As for interest, the best I can do now is 4% before tax in the UK and I agree, the 5% no risk before tax just isnt there now (though I think you can squeeze 4.5% before tax and go non-resident).

Good advice, thanks. I too dont want to risk my capital, it was too hard come by!

Hi

Am I right in thinking that the 4% 'best case' interest you can get in the UK will barely cover inflation, ie you aren't actually increasing the value of your money at all? I recently came into a similar amount you are talking about, and it seems hard enough just to keep the return up with inflation let alone derive any kind of net gain off it.

Seems the only way to guarantee enjoying the full value of the money is to spend it all straight away ;)

Having said that, I'm wondering what the inflation rate is in Thailand compared to England. For example, would 4% in a UK bank beat Thai inflation if one was to send the interest Thai-side, or vice-versa? Haven't looked into it yet, but will really have to soon.

Cheers

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used to trade stocks but focus on forex now. all my savings are spread in several blue chips, the dividends alone are pretty much sufficient to survive here, all of them are in green since i entered the position. but counting the infatuation and everything, i might not had gain much except the dividends

maybe you could speak to a financial adviser on this. im pretty sure you will get better advice and with a million you should able to survive here just based on dividends unless you had a pretty high life. of course do commit some time into some researching before entering anything

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Last time it was an American guy with a million dollars, now it a UK guy with a million dollars. I think the million dollars gets around quite a bit.

Sent from my GT-P6200 using Thaivisa Connect App

This is beyond me! What benefit could I possibly gain by coming onto an anonymous website and pretending to have a million USD? That would be inane and indicative of some kind of mental issue. Trust me, if I want giggles, I wouldn't be playing such games.

Simply, if you dont wish to engage on the thread there are millions more on the net which may be more to your liking.

What a strange post to make, ggold

You will have to excuse the doubting thomas's! As my reply says there was an american guy with a similar post who was a troll. However, I find it amaizing that a guy with a million in assets needs to come on here for advice, even to mention a net worth is suspect! I also disagree with you about sterlings weakness, it is up against the dollar or has been in recent weeks, so you net worth translated into sterling is less depending on when you invested. Besides 1million $ is only about £625000.

So if your post is about living and or working in Thailand, why the need to tell all that your a $ millionaire?

There a many expats living in Thailand with less and making a success of it.

Sent from my GT-P6200 using Thaivisa Connect App

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