A Million Dollars Net Worth In Thailand

[ravip]

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.

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Waiting patiently 'till it come my way!

[besth]

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

Waiting patiently 'till it come my way!

Oh, s**t, I was going to ask to be next!

OK, but right after you're done with it don't forget to let me know

[seasia]

Hi

What do you like to do in your spare time, when not working ?

Could you spend more time doing whatever that may be in Thailand and be happy/ healthy doing so ?

Would you get bored not working but living in Thailand, going by your suggestion that you think you would not be able to do what you do as work in the UK?

Only rhetorical questions really .

A few part time hobbies put together might provide a fulfilling enough life but only you can decide.

[jbrain]

hmmm... he bought dollars when one UK Pound bought 1.20 Dollars and has to pay now 1.65 Dollars to buy one UK Pound.

let's take a look:

-once upon a time there was a troll who had 500,000 UK Pounds,

-the troll thought "Dollars will work for me" and bought 600.000 Dollars at a rate of 1.20,

-some years later the troll was advised (by Thaivisa experts) to get out of the Dollar,

-he took the advice and bought 363,636 Pounds with his 600k Dollars at a rate of 1.65

now the troll is very happy. he is not concerned that he has incurred a loss of 136,364 UK Pounds. he puts all his Pounds on the kitchen table, adds a big mirror, counts a total of 727,272 UK Pounds and lives happily ever after in Nakhon Nowhere where he teaches "how to make a fortune with fluctuating exchange rates."

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%

Dear Loong, please forgive Naam, as he is not familiar with foreign exchange rates.

[ravip]

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

Waiting patiently 'till it come my way!

Oh, s**t, I was going to ask to be next!

OK, but right after you're done with it don't forget to let me know

As soon as it comes my way I will make a post here to get some expert advice on how to spend it!

So you will know for sure your turn is coming soon.

[steve down under]

IMO theres a strong smell of Troll emanating from the OP as I have seen his original post word for word on another thailand forum and he seems to be getting similar reactions from members on there as well !

[ggold]

OK, I guess it has to be asked! Who wants to be a millionaire?

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[ggold]

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

Waiting patiently 'till it come my way!

Oh, s**t, I was going to ask to be next!

OK, but right after you're done with it don't forget to let me know

As soon as it comes my way I will make a post here to get some expert advice on how to spend it!

So you will know for sure your turn is coming soon.

Good idea, you will get lots of really good advice!

Sent from my GT-P6200 using Thaivisa Connect App

[watcharacters]

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.

I wish I could borrow your crystal ball.

Re: NeverSure

"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."

Edited October 2, 2012 by watcharacters

[Naam]

I wish I could borrow your crystal ball.

"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."

not to forget that the sky might be falling

[Berkshire]

IMO theres a strong smell of Troll emanating from the OP as I have seen his original post word for word on another thailand forum and he seems to be getting similar reactions from members on there as well !

I believe that guys who start threads like this (with their "alleged" wealth right in the thread title) are not looking for help or advice at all. They are in fact trolling these forums, thinking that there are hot, young, desperate Thai women out there who would take the bait. So transparent and pathetic.

[mrtoad]

With that sort of asset base you would certainly have a lot more than others that arrive on these shores. However, again the issue is standard of living, and if you are 38 then you will not want to start digging in too deep into that nest egg just yet. I guess one question would be, what exactly do you do? It seems you spent a few years here in the past. I have a few friends that do contract work, so they earn there monies over short periods overseas and then come back to Thailand. The other option is to find a decent paying job in Thailand, but there is not necessarily an abundance of jobs available, but maybe you have some contacts. Good luck.

[BabyJebus]

some people are quite clearly retarded. OP isnt a big spender

Withdraw 20mil baht

10mil baht buys you 1 small condo in the city + 1 small beach house or you can get a massive ranch in the middle of nowhere for those days you need to get away + a decent car

Then spend 5-10mil baht on a bunch of cheap thai accomodations(building them is better), install washing machines, internet computers and your own minimart in front of it.

After that you have 10mil left that you keep invested and you can easily make 100k per month with 10mil baht worth of small thai rooms. Every washing machine will net you about 2-3k per month by itself add to that wifi fees/overcharging electricity by a little bit and those millions of ramen noodles per month from the minimart. Easy money.

I know someone who does that and with only 2 locations he gets about 40-50k.

Too many old idiots who failed here. I had exactly one business here and it cosst me 120k to open and after 2months i was in profit and it netted me 100k per month for barely any work. All you need is someone with half a brain to run it. I sold it to inlaws and now they barely make 40-50k hehe.

Know a few other people who invested very little for big profits here but they were all very inteligent people. All the dumb idiots who taught they could outsmart thais failed though. Seen a lot of them and it was obvious that they'd fail.

Edited October 2, 2012 by BabyJebus

[Chicog]

I have 10 million Iranian riyals, so I'm seriously thinking of retiring.

[jacktrip]

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

imagine someone coming over here and asking people how to live with a million dollars?!?

there are people over here that will deal with your ego and pride real fast.

[Anonymous1713]

Yeah, you need to practice trolling the mac users first they get too angry to realize you are a troll. Once you have some practice you can move up to a forum where people read at least 75% of what you posted.

[DonW]

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".

I think it would be wise if you re-read my post and consider the ratios I outlined.

[DonW]

Buy 5 x 7-11s and live off the profits

My sister-in-law has a 7/11 an excellent little business.

[DonW]

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.

hmmm... he bought dollars when one UK Pound bought 1.20 Dollars and has to pay now 1.65 Dollars to buy one UK Pound.

let's take a look:

-once upon a time there was a troll who had 500,000 UK Pounds,

-the troll thought "Dollars will work for me" and bought 600.000 Dollars at a rate of 1.20,

-some years later the troll was advised (by Thaivisa experts) to get out of the Dollar,

-he took the advice and bought 363,636 Pounds with his 600k Dollars at a rate of 1.65

now the troll is very happy. he is not concerned that he has incurred a loss of 136,364 UK Pounds. he puts all his Pounds on the kitchen table, adds a big mirror, counts a total of 727,272 UK Pounds and lives happily ever after in Nakhon Nowhere where he teaches "how to make a fortune with fluctuating exchange rates."

Yes, lets take a look:

When was the rate 1:20? lol.

I purchased when the rate was just hitting 1:2 - more care and less haste would be wise 'Naam'.

I have added this post to 5 Thai related forums and, without exception, a small number of posters have accussed me of being a 'Troll' or a 'Flamer'. Interestingly, all of the accussations have come from serial posters with many thousands of posts who quite clearly spend many hours socialising on forums each day..

I should reiterate here what I have said elsewhere, I am not here to spoil peoples' online fun. I am not into this kind of socialising IE facebook, forums etc I am just here to gather information and to try and access some knowledge.

Really, what possible benefit or enjoyment could one derive from coming into an online anonymous chatroom/forum and pretending to me something or asking for advice on relocating to Thailand with a sum of cash behind me? Its simply meaningless.

It appears that you are taking it all a little too seriously Naam - really, you appear to have close to 20 THOUSAND posts!!! This is obviously a considerably significant part of your life and it is not my intention to disturb that in any way, knock yourself out.

Arguing with strangers on the internet isn't really my bag, Naam so lets knock this on the head now.

Edited October 4, 2012 by DonW

[DonW]

"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%

=

Thanks Loong. Yes, it works for me and should net about 120k.

[DonW]

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

Hi 15peter20

Good post, thank you. Yes, I think 4-5% is the best case in the UK at the moment with zero risk to the capital. It will beat inflation and add back 1 perhaps 2%. I am not completely sure but I think Thai inflation is running higher, at least it feels that way and my inlaws consider it so also.

Thanks again and I hope it all works out for you and the money makes life a little more comfortable. Good luck.

[DonW]

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

Another good post. The problem with financial adviser is that I know enough to not trust them, if that makes sense. Ive studied corporate finance, management accounting etc so I have a reasonable grounding but the issue with FAs is, in my experience, the angle is always in their favour.

Cheers.

[DonW]

Hi

What do you like to do in your spare time, when not working ?

Could you spend more time doing whatever that may be in Thailand and be happy/ healthy doing so ?

Would you get bored not working but living in Thailand, going by your suggestion that you think you would not be able to do what you do as work in the UK?

Only rhetorical questions really .

A few part time hobbies put together might provide a fulfilling enough life but only you can decide.

Hi Seaasia,

I could keep myself busy, I am sure! Really just here to gain insight from some guys who may be in a similar situation. My lifestyle is not expensive, wifey is very devout and we just keep ourselves to ourselves and are as happy in a 1000baht bungalow that in the JW.

[DonW]

IMO theres a strong smell of Troll emanating from the OP as I have seen his original post word for word on another thailand forum and he seems to be getting similar reactions from members on there as well !

I believe that guys who start threads like this (with their "alleged" wealth right in the thread title) are not looking for help or advice at all. They are in fact trolling these forums, thinking that there are hot, young, desperate Thai women out there who would take the bait. So transparent and pathetic.

I am not seraching for a Thai woman. Thanks for the input all the same.

[DonW]

With that sort of asset base you would certainly have a lot more than others that arrive on these shores. However, again the issue is standard of living, and if you are 38 then you will not want to start digging in too deep into that nest egg just yet. I guess one question would be, what exactly do you do? It seems you spent a few years here in the past. I have a few friends that do contract work, so they earn there monies over short periods overseas and then come back to Thailand. The other option is to find a decent paying job in Thailand, but there is not necessarily an abundance of jobs available, but maybe you have some contacts. Good luck.

Hi MrToad,

Yes, my inlaws have great contacts and are business owners, however, I am looking at doing this without their input. Agree, I need to keep my paws off the capital.

[DonW]

some people are quite clearly retarded. OP isnt a big spender

Withdraw 20mil baht

10mil baht buys you 1 small condo in the city + 1 small beach house or you can get a massive ranch in the middle of nowhere for those days you need to get away + a decent car

Then spend 5-10mil baht on a bunch of cheap thai accomodations(building them is better), install washing machines, internet computers and your own minimart in front of it.

After that you have 10mil left that you keep invested and you can easily make 100k per month with 10mil baht worth of small thai rooms. Every washing machine will net you about 2-3k per month by itself add to that wifi fees/overcharging electricity by a little bit and those millions of ramen noodles per month from the minimart. Easy money.

I know someone who does that and with only 2 locations he gets about 40-50k.

Too many old idiots who failed here. I had exactly one business here and it cosst me 120k to open and after 2months i was in profit and it netted me 100k per month for barely any work. All you need is someone with half a brain to run it. I sold it to inlaws and now they barely make 40-50k hehe.

Know a few other people who invested very little for big profits here but they were all very inteligent people. All the dumb idiots who taught they could outsmart thais failed though. Seen a lot of them and it was obvious that they'd fail.

Great post. This is one thing that wifey suggested we do. We have a home on the Eastern Seaboard and a large chunk of land, so we could build there. Thanks for the thoughts.

[Scully]

some people are quite clearly retarded. OP isnt a big spender

Withdraw 20mil baht

10mil baht buys you 1 small condo in the city + 1 small beach house or you can get a massive ranch in the middle of nowhere for those days you need to get away + a decent car

Then spend 5-10mil baht on a bunch of cheap thai accomodations(building them is better), install washing machines, internet computers and your own minimart in front of it.

After that you have 10mil left that you keep invested and you can easily make 100k per month with 10mil baht worth of small thai rooms. Every washing machine will net you about 2-3k per month by itself add to that wifi fees/overcharging electricity by a little bit and those millions of ramen noodles per month from the minimart. Easy money.

I know someone who does that and with only 2 locations he gets about 40-50k.

Too many old idiots who failed here. I had exactly one business here and it cosst me 120k to open and after 2months i was in profit and it netted me 100k per month for barely any work. All you need is someone with half a brain to run it. I sold it to inlaws and now they barely make 40-50k hehe.

Know a few other people who invested very little for big profits here but they were all very inteligent people. All the dumb idiots who taught they could outsmart thais failed though. Seen a lot of them and it was obvious that they'd fail.

Great post. This is one thing that wifey suggested we do. We have a home on the Eastern Seaboard and a large chunk of land, so we could build there. Thanks for the thoughts.

On another thread you ask about getting a mortgage for your wife in Thailand, you state that it is better to use others money.

Are you cash rich ?

What percent are Thai mortgages, less than 5% ? (I genuinely dont know).

Are you bullish regarding property in Thailand ?

[DonW]

On another thread you ask about getting a mortgage for your wife in Thailand, you state that it is better to use others money.

I did indeed.

Are you cash rich ?

Dollar bonds, why?

What percent are Thai mortgages, less than 5% ? (I genuinely dont know).

Nor do I though I do know they aren't 5%!

Are you bullish regarding property in Thailand ?

?

[Scully]

Don I asked because if you're cash rich then why pay a high interest rate on a mortgage ?. If your net worth is tied up then I could understand it.

I would also like to know what you think property prices are going to do in the area you want to buy in Thailand ?.

Are you buying hoping to speculate ?.

[DonW]

Hi Scully

Its always best to invest using finance as well as a depsite.

For example, I invest 1 mill and borrow 3 mill. Lets say the apartment rents for 25k and the mortgage is 15k, then overpay the morgage. 20 years later you have an apartment for 1mill plus whatever upkeep costs you spent.

Though in this case, I am not looking to speculate or rent however, I want to have the option to rent it later if I get bored of keeping it.

Cheers