A Million Dollars Net Worth In Thailand

[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.

good answer and great advice. I've had to read all the accusations of trolling and smart arse comments attacking the OP to get to this post. Unbelievable how cynical people are on these forums. I think you summed it up with 'Too many old idiots who failed here', too quick to knock other people's success or ambition to make a go of it here.

Thanks Foxboy, it is quite tiresome reading all the nonsense but there are still some gems in there too. Thanks again

[15Peter20]

It seems to me that there is no point having a large amount of cash sitting in a bank account. I wonder how a the yield from a lump of capital locked up in bonds and such safer investments compares to just buying a house to rent out at around 15,000Bt per month. I'm guessing the rental income would be worth more so I'm looking at buy-to-rent as the better investment. I've still got a lot to learn, so any thoughts on the matter would be very welcome.

[DonW]

Oops! - I mean USD 1.0M, not 0.5M.

Brain malfunction. Same comments apply.

0.5M US is about 15M baht. Invested and say you can get an average of 5% (that might be a big if).

That would give you about 60K baht per month and you wouldn't be touching the capital: I could live on that .

(plus I'm 49 and none of us are going to live for ever, get to about 65-68 and you can start spending the capital).

The problem there is that to preserve the capital you still need it to increase at the rate of inflation else its value will steadily get whittled down so, once you take your inflation rate off the return which could be higher than the official figure, you potentially could be looking at a negative return.

Good point and that's my concern.Lets say I cash in the mill USD and have 625k Sterling. If I get a 5 year bond and go non-resident I may secure 4.5% interest though to bet inflation I can only draw on 2% of the interest (the other 2.5% goes back into the capital to keep, or at least try, and keep up with inflation.

That leaves me just 12.5K Sterling a year - about 48000 baht a month - not enough to live well in Thailand never mind the trips home. Definately need to secure income in Thailand or keep working another 10 years / restart a business!

[DonW]

If you bought your house when you were younger (or inherited your parent's house), and had a decent job and saved a bit, then a million dollars is relatively easy - especially if any of the property is in London...

If you already own property in the UK that's rented out, I'd be inclined to continue to rent it out so long as the after-tax rental income more than covers the mortgage payments. (Admittedly I'm selling a rental property of my own at the moment but that's because the rules on EU residency for student loans means I'm moving back so that my kids can afford to go to University. But I've been out of the country long enough that I'm currently exempt from capital gains tax, so can realise the capital gain tax-free now.)

In the long run, property should rise in line with wages, which should generally rise faster than inflation, so it's usually a good place to put money long term. (But transaction costs are quite high, and prices can fall as well as rise, especially in the short term, and there are additional costs with being a landlord, like leaky plumbing or roofs, etc.) It's also an area where it's relatively easy to use leverage to increase your capital (by having a mortgage that's covered by the rental income).

Alternatively you could buy a range of shares with a reasonable dividend yield and hope the shares rise in line with inflation and the dividends are enough to live on.

All good points but shares NEVER work for me, I lose every time! Property on the other hand......

[DonW]

I have 1mill USD in savings and a house in Thailand on the Eatern Seaboard.

You wealth seems to have increased dramatically since your OP stating you had "a million USD in property, savings and investments".

I don't know whether to say congrats or call bullshit.

Say whatever you like, Luv.

My 1mill is made up of mainly dollars and 2 rental.

My house is Thailand isn't part of the portfolio its worth very little and cant be sold on.

[DonW]

It seems to me that there is no point having a large amount of cash sitting in a bank account. I wonder how a the yield from a lump of capital locked up in bonds and such safer investments compares to just buying a house to rent out at around 15,000Bt per month. I'm guessing the rental income would be worth more so I'm looking at buy-to-rent as the better investment. I've still got a lot to learn, so any thoughts on the matter would be very welcome.

Diversify and yes, but to lets are good IF they are in the right area, IF you are looking for a long term investment and also haing someone else pay your mortgge is also nice !

[Spoonman]

I have 1mill USD in savings and a house in Thailand on the Eatern Seaboard.

You wealth seems to have increased dramatically since your OP stating you had "a million USD in property, savings and investments".

I don't know whether to say congrats or call bullshit.

Say whatever you like, Luv.

Why not, seems you do.

For someone who claims to be a world renowned polygrapher you sure know how to keep changing your story, seems you learnt to bullshit with the best of them.

[cobra]

...

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, ...

Well said and very rational, Edited October 8, 2012 by cobra

[bdw]

Last time it was an American guy with a million dollars, now it a UK guy with a million dollars.

I think that a person from the UK would value his fortune in POUNDS, so I am not willing to take any further notice of this thread.

[DonW]

Last time it was an American guy with a million dollars, now it a UK guy with a million dollars.

I think that a person from the UK would value his fortune in POUNDS, so I am not willing to take any further notice of this thread.

Well that's a real loss, bbw. I think that the tread would have really befitted from your obvious valuable input. Your assumption that I am somehow similar to a seemingly unsavory America because A: We sate we have a million USD and B: We are both, erm, 'guys'; has overridden your choice to take 'any further notice'.

Seems that, in your opinion, a Brit cannot value his net worth - held largely in USD in that currency. British should, logically, convert back into the currency of Blighty. We aren't in Zimbabwe, no Sir.

But, I am sure your sock can contribute on another channel.

What a strange world we live in.

[Orac]

Oops! - I mean USD 1.0M, not 0.5M.

Brain malfunction. Same comments apply.

0.5M US is about 15M baht. Invested and say you can get an average of 5% (that might be a big if).

That would give you about 60K baht per month and you wouldn't be touching the capital: I could live on that .

(plus I'm 49 and none of us are going to live for ever, get to about 65-68 and you can start spending the capital).

The problem there is that to preserve the capital you still need it to increase at the rate of inflation else its value will steadily get whittled down so, once you take your inflation rate off the return which could be higher than the official figure, you potentially could be looking at a negative return.

Good point and that's my concern.Lets say I cash in the mill USD and have 625k Sterling. If I get a 5 year bond and go non-resident I may secure 4.5% interest though to bet inflation I can only draw on 2% of the interest (the other 2.5% goes back into the capital to keep, or at least try, and keep up with inflation.

That leaves me just 12.5K Sterling a year - about 48000 baht a month - not enough to live well in Thailand never mind the trips home. Definately need to secure income in Thailand or keep working another 10 years / restart a business!

I would be wary of using 2.5% as an inflation figure for your planning as there are concerns it could go higher than that. You also need to remember that inflation for an individual can vary significantly and will be effected by what you actually are looking to spend your money on - things that seem to rise in price more for expats here are things like healthcare, education for children and also imported luxury items if the baht gets any stronger against a weakening dollar/pound.

If you are keeping the bulk of money out of Thailand you also need to allow for changes to exchange rates which have caused significant problems here, particularly for people on a fixed income in foreign currencies. I am not much older than yourself and when I did my planning only 5-6 years ago my plan was based on 60 baht to the pound with a back up worse case of 45 baht to the pound which only a few years later looks far more realistic.

[55Jay]

Don, been a rough ride on this thread, I'm in a similar situation (but with cash) and have taken a couple interesting points out of the sensible responses here.

[jacktrip]

another meaningless financial thread. you can survive on almost any amount. you will find your place eventually because thats what you can afford.

[skippybangkok]

Was on a nice catamaran last December in Phuket, not expensive , but well cared for and clean. The guy ( westerner ) sails between indo and Thailand alot, and generally eats the fish he catches. Has a bit of rice, and some stuff.

He lives on about 10,000 baht a month I think, and alot of that is booze and ship repairs. So I guess it's what ur used to and how much u have

[BigJohnnyBKK]

Was on a nice catamaran last December in Phuket, not expensive , but well cared for and clean. The guy ( westerner ) sails between indo and Thailand alot, and generally eats the fish he catches. Has a bit of rice, and some stuff.

He lives on about 10,000 baht a month I think, and alot of that is booze and ship repairs. So I guess it's what ur used to and how much u have

Every once in a while he's gotta come up with a million though. Big grain of salt.

[skippybangkok]

Was on a nice catamaran last December in Phuket, not expensive , but well cared for and clean. The guy ( westerner ) sails between indo and Thailand alot, and generally eats the fish he catches. Has a bit of rice, and some stuff.

He lives on about 10,000 baht a month I think, and alot of that is booze and ship repairs. So I guess it's what ur used to and how much u have

Every once in a while he's gotta come up with a million though. Big grain of salt.

Nope... He bought it for $100,000....

[55Jay]

Fish, rice, drink, repairs/maintenance, mooring and immigration fees....and an M16 hidden on board....

What a cool life to lead though. Can be hazardous on the stretch of water he plys.

Then again, it's hazardous on shore too. What to do.

[skippybangkok]

Fish, rice, drink, repairs/maintenance, mooring and immigration fees....and an M16 hidden on board....

What a cool life to lead though. Can be hazardous on the stretch of water he plys.

Then again, it's hazardous on shore too. What to do.

yeh, he was complaining about some 200 baht customs or immigration fee........ had to pinch myself for a minute.

[BigJohnnyBKK]

Nope... He bought it for $100,000....

I meant baht of course since that's the currency you were using.

I used to crew on yachts in the BVI, got to know a lot of the live-aboards bumming around the Caribbean on a budget, and you're right most of the time they can live real cheap, but when it's time for maintenance, something big breaks you've got to have it in the account or you're grounded.

[Cobrabiker]

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

Well, many people make good and fast money, like doctors, actors, singers, but not all of them know how to invest, so if you have made 10 million, how to invest it wisely and not losing your pants is another specialised field.

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

He is asking for advice, or opinions, so if you don't have one, you don't need to post, I don't see any problem for a millionaire to ask for advice.

Well, I have seen many people came with lots of retired fund with enthusiasm, open restaurant, beer bars, and did not want to commit to it, lack of experience, etc.... and in the end, lost money. The problem is the cash register, when the boss is not around, the workers tend to put the cash "carelessly" into their pockets.

In my opinion, the better way is buy a few condos and rent out, collect your rents and sitting on the appreciation, buy some in Bkk too, few in China or Singapore, and dump whatever you have in U.S. , it is just a matter of time the US govenment will bankrupt.

Edited May 17, 2013 by Cobrabiker

[Eesat]

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".

Especially as the USD/GBP is trading right now at 1.51709 and hasn't been at 1.6500 to the pound since 21.08.2011!

[Eesat]

"I don't have to work as, fortunately, I have a million USD in property, savings and investments"

I'm sorry but we'll need to know which regiment of Special Forces you are actively serving in?
Also,at which bar on Soi 4 we can find you holding court and regaling ageing bargirls with stories of your bravery,while heavily outnumbered and outgunned by enemy fire?

[RakJungTorlae]

You guys do release you just resurrected a 7 month old troll post don't you?

[NeverSure]

Well, many people make good and fast money, like doctors, actors, singers, but not all of them know how to invest, so if you have made 10 million, how to invest it wisely and not losing your pants is another specialised field.

He is asking for advice, or opinions, so if you don't have one, you don't need to post, I don't see any problem for a millionaire to ask for advice.

Well, I have seen many people came with lots of retired fund with enthusiasm, open restaurant, beer bars, and did not want to commit to it, lack of experience, etc.... and in the end, lost money. The problem is the cash register, when the boss is not around, the workers tend to put the cash "carelessly" into their pockets.

In my opinion, the better way is buy a few condos and rent out, collect your rents and sitting on the appreciation, buy some in Bkk too, few in China or Singapore, and dump whatever you have in U.S. , it is just a matter of time the US govenment will bankrupt.

Yes of course. Buy high and sell low. Advise people to buy property in a country which is in the middle of an ever rising bubble, and ignore the property which has already crashed to a level that's below the cost of building and is slowly recovering with modest but sustainable price increases.

One nice thing about this world, whether it be currencies, real estate or anything else unique to one country, is that something is always on sale somewhere. Today property is on sale in the US.

The US government will go bankrupt when it was just reported that for the first time in many years, the US will have a surplus and actually reduce its debt this quarter. How people underestimate the engine that drives the West. Yes it has lots of problems and yes it should be a concern, but it's a lot better than it was just 5 years ago.

The excesses in the private sector have been shaken out but they have not in Asia. Asia is next so of course buy high and sell low.

Find a place in this world where there have been big price run-ups and buy, buy buy. Never buy anything that's on sale, because that sale proves it's no good. It's like a stock market or gold. When it's high everyone says "buy, buy, I've been making lots of money." But when it crashes and is actually cheap, people want out. They want nothing to do with it.

Brilliant.

[Banzai99]

You guys do release you just resurrected a 7 month old troll post don't you?

What we need is a new thread by a 25 year old who has 5 Million Dollars.

That should wind a few old timers up.

[Eesat]

You guys do release you just resurrected a 7 month old troll post don't you?

Thai Visa must be going downhill,there used to be trolls straining at the leash to start threads on here!

[MAJIC]

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

+1

The fatal flaw,who ever met a Brit who thinks in dollars?

[stiggy]

Last time it was an American guy with a million dollars, now it a UK guy with a million dollars.

I think that a person from the UK would value his fortune in POUNDS, so I am not willing to take any further notice of this thread.

I'm from Uk. Yet when adding my currency portfolio up. I always revert to Aus Dollars for the total. It's a currency I work with, and there fore most comfortable with when it comes to my own perceived net worth.So why shouldn't the OP be doing the same.Besides 1mill sounds and feels so much better then 600,000 .

[Eesat]

Last time it was an American guy with a million dollars, now it a UK guy with a million dollars.

I think that a person from the UK would value his fortune in POUNDS, so I am not willing to take any further notice of this thread.

I'm from Uk. Yet when adding my currency portfolio up. I always revert to Aus Dollars for the total. It's a currency I work with, and there fore most comfortable with when it comes to my own perceived net worth.So why shouldn't the OP be doing the same.Besides 1mill sounds and feels so much better then 600,000 .

Why not value your net worth/portfolio in Vietnamese Dong or Laotian Kip then?

[kevvy]

not another one bragging he has money , dont you just get sick of them .. I've got I've got I've got blah blah blah