Almera Posted March 24, 2013 Share Posted March 24, 2013 This strong Baht is really starting to bite some farang expats. Would you still be around if 1 baht = 25 dollar, 30 euro, or 40 pound? Or even less?? The lower the better! 20 baht to the Euro please! I'll be sending home almost twice as much every month. At what point would you toss in the towel and leave Thailand? 60b to the Euro and I'm outta here. Link to comment Share on other sites More sharing options...
Suradit69 Posted March 24, 2013 Share Posted March 24, 2013 (edited) It is sadly telling that it wasn't that long ago that the resident Thai Visa financial experts were saying they would never bring more than a month's cash into Thailand or they just took small amounts from the ATM using their home bank card when needed. Keeping large amounts in Thai banks, according to the TV gurus, was foolish since they paid almost no interest. Even back when exchange rates were more favorable, it was usually better to bring in larger amounts when the rates were up so that you could coast a bit when the rates went against your currency. I guess that's the meaning of being satang wise and baht foolish. Edited March 24, 2013 by Suradit69 Link to comment Share on other sites More sharing options...
FunFon Posted March 24, 2013 Share Posted March 24, 2013 It is sadly telling that it wasn't that long ago that the resident Thai Visa financial experts were saying they would never bring more than a month's cash into Thailand or they just took small amounts from the ATM using their home bank card when needed. Keeping large amounts in Thai banks, according to the TV gurus, was foolish since they paid almost no interest. Even back when exchange rates were more favorable, it was usually better to bring in larger amounts when the rates were up so that you could coast a bit when the rates went against your currency. I guess that's the meaning of being satang wise and baht foolish. - I believe that advice was mostly motivated by the fact that so many clueless (not just) noobs end up getting persuaded by charming Thais to "invest" their money in very risky schemes, often simply fronts for scamming the cash right away. WRT choosing what currency to base your long-term investments in, although I do consider the THB better than EUR or USD for a 5-10 year window, I certainly wouldn't trust the underlying social-political stability, things could go sour anytime, especially with the inevitable interregnum succession period looming. But something in precious metals is always a good idea, and if you're living here Thailand certainly makes for a liquid market as long as you've solved the security issue. Link to comment Share on other sites More sharing options...
chiang mai Posted March 24, 2013 Share Posted March 24, 2013 Throwing in the towel here is only a decent option to consider if you have Thai assets to convert into your home currency or, you are still able to earn income in your home country. For retirees and pensioners such a towel throwing exersise may not even be possible, especially where inflation back home is a major factor. I reckon there will be a real serious crunch time comming for many British pensioners, the idea of leaving LOS and returning "home" may not even be possible. Oh..come on... There is plenty of towns around thailand where you can live comfortably on a british pension... Just get out of the overpriced places....and cut down on your bar bills....hit the beach with a couple of friends...a few Changs...heaven for peanuts... And peanuts is an apt choice of word because that's about all a pensioner would have to eat, with the state pension at £105 per week that means THB 4,672 per week for everything! Link to comment Share on other sites More sharing options...
HardenedSoul Posted March 24, 2013 Share Posted March 24, 2013 Throwing in the towel here is only a decent option to consider if you have Thai assets to convert into your home currency or, you are still able to earn income in your home country. For retirees and pensioners such a towel throwing exersise may not even be possible, especially where inflation back home is a major factor. I reckon there will be a real serious crunch time comming for many British pensioners, the idea of leaving LOS and returning "home" may not even be possible. Oh..come on... There is plenty of towns around thailand where you can live comfortably on a british pension... Just get out of the overpriced places....and cut down on your bar bills....hit the beach with a couple of friends...a few Changs...heaven for peanuts... And peanuts is an apt choice of word because that's about all a pensioner would have to eat, with the state pension at £105 per week that means THB 4,672 per week for everything! Does anyone actually move to Thailand with only the wing and a prayer of the basic UK state pension to rely upon? Link to comment Share on other sites More sharing options...
Almera Posted March 24, 2013 Share Posted March 24, 2013 Throwing in the towel here is only a decent option to consider if you have Thai assets to convert into your home currency or, you are still able to earn income in your home country. For retirees and pensioners such a towel throwing exersise may not even be possible, especially where inflation back home is a major factor. I reckon there will be a real serious crunch time comming for many British pensioners, the idea of leaving LOS and returning "home" may not even be possible. Oh..come on... There is plenty of towns around thailand where you can live comfortably on a british pension... Just get out of the overpriced places....and cut down on your bar bills....hit the beach with a couple of friends...a few Changs...heaven for peanuts... And peanuts is an apt choice of word because that's about all a pensioner would have to eat, with the state pension at £105 per week that means THB 4,672 per week for everything! But, but, they can eat Noo Yang for 30b a plate at a delicious roadstall. Link to comment Share on other sites More sharing options...
Almera Posted March 24, 2013 Share Posted March 24, 2013 Does anyone actually move to Thailand with only the wing and a prayer of the basic UK state pension to rely upon? I think they did when it was about 72b to the pound around 6 years ago. Not looking like such a good move 6 years later I bet. Link to comment Share on other sites More sharing options...
chiang mai Posted March 24, 2013 Share Posted March 24, 2013 Exactly, it's not the recent movers that will be the issue, it will be the ones who have been here for 10 years plus and have hung on hoping for an improvement, the boiling frog syndrome. Link to comment Share on other sites More sharing options...
FunFon Posted March 24, 2013 Share Posted March 24, 2013 HardenedSoul, on 24 Mar 2013 - 19:55, said: Does anyone actually move to Thailand with only the wing and a prayer of the basic UK state pension to rely upon? -Many without any guaranteed income at all, maybe a bit in the bank but that's soon gone, end up trying to survive on whatever they can earn here TEFL'ing. Link to comment Share on other sites More sharing options...
HardenedSoul Posted March 24, 2013 Share Posted March 24, 2013 HardenedSoul, on 24 Mar 2013 - 19:55, said: Does anyone actually move to Thailand with only the wing and a prayer of the basic UK state pension to rely upon? -Many without any guaranteed income at all, maybe a bit in the bank but that's soon gone, end up trying to survive on whatever they can earn here TEFL'ing. I wouldn't try it but then again, I'm a good few years off retirement. If someone can live here on basic state pension money, fair play to 'em. Link to comment Share on other sites More sharing options...
FunFon Posted March 24, 2013 Share Posted March 24, 2013 Many without any guaranteed income at all, maybe a bit in the bank but that's soon gone, end up trying to survive on whatever they can earn here TEFL'ing.- I wouldn't try it but then again, I'm a good few years off retirement. If someone can live here on basic state pension money, fair play to 'em. - Well it's easier and more pleasurable than living on the same income back home isn't it. Until the health care monster raises its ugly head anyway. Some may well recognize the only solution in some last-resort scenarios is the silver bullet plan. Link to comment Share on other sites More sharing options...
cardholder Posted March 24, 2013 Share Posted March 24, 2013 Throwing in the towel here is only a decent option to consider if you have Thai assets to convert into your home currency or, you are still able to earn income in your home country. For retirees and pensioners such a towel throwing exersise may not even be possible, especially where inflation back home is a major factor. I reckon there will be a real serious crunch time comming for many British pensioners, the idea of leaving LOS and returning "home" may not even be possible. Oh..come on... There is plenty of towns around thailand where you can live comfortably on a british pension... Just get out of the overpriced places....and cut down on your bar bills....hit the beach with a couple of friends...a few Changs...heaven for peanuts... And peanuts is an apt choice of word because that's about all a pensioner would have to eat, with the state pension at £105 per week that means THB 4,672 per week for everything! Does anyone actually move to Thailand with only the wing and a prayer of the basic UK state pension to rely upon? yes - ! know 4 retirees who are living on 38k, 33k, 27k and 9k! respectively. Link to comment Share on other sites More sharing options...
cardholder Posted March 24, 2013 Share Posted March 24, 2013 Many without any guaranteed income at all, maybe a bit in the bank but that's soon gone, end up trying to survive on whatever they can earn here TEFL'ing.- I wouldn't try it but then again, I'm a good few years off retirement. If someone can live here on basic state pension money, fair play to 'em. -Well it's easier and more pleasurable than living on the same income back home isn't it. Until the health care monster raises its ugly head anyway. Some may well recognize the only solution in some last-resort scenarios is the silver bullet plan. You are not new here are you Fun ? Spot on. Link to comment Share on other sites More sharing options...
Surin steve Posted March 24, 2013 Share Posted March 24, 2013 Liveing on the bread line at £105 a week in uk or liveing on just 4500 + in Thailand 4500 bt is more than twice the weekly wage of the vast majority of Thais Link to comment Share on other sites More sharing options...
Bluenose BKK Posted March 24, 2013 Share Posted March 24, 2013 It is sadly telling that it wasn't that long ago that the resident Thai Visa financial experts were saying they would never bring more than a month's cash into Thailand or they just took small amounts from the ATM using their home bank card when needed. Keeping large amounts in Thai banks, according to the TV gurus, was foolish since they paid almost no interest. Even back when exchange rates were more favorable, it was usually better to bring in larger amounts when the rates were up so that you could coast a bit when the rates went against your currency. I guess that's the meaning of being satang wise and baht foolish. I could tell you things about Thai banks that would make your hair curl!People with very little influence can empty your account no problem and you would have no recourse! Link to comment Share on other sites More sharing options...
Surin steve Posted March 24, 2013 Share Posted March 24, 2013 Liveing on the bread line at £105 a week in uk or liveing on just 4500 + in Thailand 4500 bt is more than twice the weekly wage of the vast majority of Thais I know it's not easy living on 600 + per day but I for one would choose here over the cold and greyness of uk anyway 1 Link to comment Share on other sites More sharing options...
Bluenose BKK Posted March 24, 2013 Share Posted March 24, 2013 Price inflation and loss of buying power of the dollar/Euro/pound are happening back in the homes of those currencies too, so it's not as if returning to your country of origin is going to make the problem vanish entirely and the process of returning home is likely to be expensive on its own. The value of the baht against other currencies is somewhat cyclical. The market tends to correct over-reactions in time. I've been buying a couple of baht of gold every time the exchange rate and local pricing seem advantageous (and I have the spare cash).No guarantee the price of gold will increase, but it's probably more likely to do so than some of the major currencies of debt-laden countries. If you accumulate enough to cover 6 months to a year of local expenses it'll give you a cushion for times when the exchange rate is abysmal and it'll probably offer a bit of inflation protection. Wait until the Federal Reserve stop Quantative Easing and the chair is kicked away,as the US Dollar falls into the noose it's created for itself,could happen at the end of this year,hold on to your hats at that point and watch the death throes! Link to comment Share on other sites More sharing options...
Bluenose BKK Posted March 24, 2013 Share Posted March 24, 2013 (edited) This strong Baht is really starting to bite some farang expats. Would you still be around if 1 baht = 25 dollar, 30 euro, or 40 pound? Or even less?? The lower the better! 20 baht to the Euro please! I'll be sending home almost twice as much every month. >>At what point would you toss in the towel and leave Thailand? 60b to the Euro and I'm outta here. Unfortunately your home will have been repossessed by the bank at that point,I take it you're not a financial advisor then? Edited March 24, 2013 by Bluenose BKK Link to comment Share on other sites More sharing options...
Bluenose BKK Posted March 24, 2013 Share Posted March 24, 2013 It is sadly telling that it wasn't that long ago that the resident Thai Visa financial experts were saying they would never bring more than a month's cash into Thailand or they just took small amounts from the ATM using their home bank card when needed. Keeping large amounts in Thai banks, according to the TV gurus, was foolish since they paid almost no interest. Even back when exchange rates were more favorable, it was usually better to bring in larger amounts when the rates were up so that you could coast a bit when the rates went against your currency. I guess that's the meaning of being satang wise and baht foolish. - I believe that advice was mostly motivated by the fact that so many clueless (not just) noobs end up getting persuaded by charming Thais to "invest" their money in very risky schemes, often simply fronts for scamming the cash right away. WRT choosing what currency to base your long-term investments in, although I do consider the THB better than EUR or USD for a 5-10 year window, I certainly wouldn't trust the underlying social-political stability, things could go sour anytime, especially with the inevitable interregnum succession period looming. But something in precious metals is always a good idea, and if you're living here Thailand certainly makes for a liquid market as long as you've solved the security issue. Yes,let's all pick a non-hard currency/exotic,as opposed to a hard currency and one of the 'Majors',what a great idea! Link to comment Share on other sites More sharing options...
mandee Posted March 24, 2013 Share Posted March 24, 2013 Not really an option, especially in view of the info about returning nohaves to UK. Must investigate frugal living, no aircon,no cable,no internet, vegetable soup, walk everywhere, maybe I can use a charcoal cooker on the balcony. Fortunately I have a few lifetimes of audiobooks, and if I cant afford batteries to listen, a pal has a whole wall of books. Link to comment Share on other sites More sharing options...
FunFon Posted March 25, 2013 Share Posted March 25, 2013 It is sadly telling that it wasn't that long ago that the resident Thai Visa financial experts were saying they would never bring more than a month's cash into Thailand or they just took small amounts from the ATM using their home bank card when needed. Keeping large amounts in Thai banks, according to the TV gurus, was foolish since they paid almost no interest. Even back when exchange rates were more favorable, it was usually better to bring in larger amounts when the rates were up so that you could coast a bit when the rates went against your currency. I guess that's the meaning of being satang wise and baht foolish. - I believe that advice was mostly motivated by the fact that so many clueless (not just) noobs end up getting persuaded by charming Thais to "invest" their money in very risky schemes, often simply fronts for scamming the cash right away. WRT choosing what currency to base your long-term investments in, although I do consider the THB better than EUR or USD for a 5-10 year window, I certainly wouldn't trust the underlying social-political stability, things could go sour anytime, especially with the inevitable interregnum succession period looming. But something in precious metals is always a good idea, and if you're living here Thailand certainly makes for a liquid market as long as you've solved the security issue. Yes,let's all pick a non-hard currency/exotic,as opposed to a hard currency and one of the 'Majors',what a great idea! - Yes 100% saying the US/UK/EUR are quite likely to continue their dramatic decline over at least the next decade, possibly even Wiemar proportions, the way we've been going in those jurisdictions it's pretty inevitable even the common folk will realize it's an unsustainable house of cards and once they stop trusting it. If you don't trust the Thais long-term (and I'd go along with that to some extent, saying they're better than the above isn't me saying very much), my personal picks are Switzerland, Norway, Australia and Singapore currencies. And some gold/silver in physical local barterable form to handle possible real meltdowns. Other suggestions or thoughtful feedback on the above would be most welcome. Link to comment Share on other sites More sharing options...
bigbamboo Posted March 25, 2013 Share Posted March 25, 2013 At what point do you toss in the towel? Usually when the Germans are at breakfast. Link to comment Share on other sites More sharing options...
BB1955 Posted March 25, 2013 Share Posted March 25, 2013 Concerned yes , panic no as for returning back to the USA not an option , when I left 3 years ago no way I could live on what I get every every month in the US . Just have to tuck it in a little to adjust the current status of the baht ... I didnt come here to be a rich farrang .. Came to enjoy life ..... Maybe a few more 30 baht meals is all it means to me .... Link to comment Share on other sites More sharing options...
somtampet Posted March 25, 2013 Share Posted March 25, 2013 Exactly, it's not the recent movers that will be the issue, it will be the ones who have been here for 10 years plus and have hung on hoping for an improvement, the boiling frog syndrome. Lived in Pattaya for 9 years,retired at 50,and a few years of 76/69 and 60 to the gbp,so i cant complain.The gf is earning thai baht,so life is good over the 9 years. Link to comment Share on other sites More sharing options...
somtampet Posted March 25, 2013 Share Posted March 25, 2013 Concerned yes , panic no as for returning back to the USA not an option , when I left 3 years ago no way I could live on what I get every every month in the US . Just have to tuck it in a little to adjust the current status of the baht ... I didnt come here to be a rich farrang .. Came to enjoy life ..... Maybe a few more 30 baht meals is all it means to me .... Good post,no lady drinks over 90 baht and drink at cheaper places,job done Link to comment Share on other sites More sharing options...
draftvader Posted March 25, 2013 Share Posted March 25, 2013 Never toss in the towel. It'll only dry making the towel all hard and scratchy! Link to comment Share on other sites More sharing options...
MrWorldwide Posted March 26, 2013 Share Posted March 26, 2013 A bar owner on Soi 22 once told me he is very happy to see people drinking Coke, as his profit on soft drinks is much higher than what he makes on alcohol. I just dont know too many guys who - drink 5 cokes,ring the bell, buy the entire bar a round of drinks - order pizza, have another 5 cokes, get into a loud argument with some guy trying to play pool - hand the pizza delivery guy a 200-baht tip, demolish said pizza while downing another 5 cokes - barfine 2 'girls', much to the delight of others in the bar, particularly the aforementioned pool player - end the evening slumped on the floor outside his apartment with chunks of pizza sprayed all over his shirt and jeans I'm guessing that Kings Park wasnt built on the back of soft drink sales 2 Link to comment Share on other sites More sharing options...
FunFon Posted March 26, 2013 Share Posted March 26, 2013 What topic has this got to do with again? And what the heck is Kings Park? Link to comment Share on other sites More sharing options...
MrWorldwide Posted March 26, 2013 Share Posted March 26, 2013 (edited) I was referring to somtampet's earlier post re lady drinks - nothing to get your knickers in a twist over. Obviously, that should have read 'Queens Park' - apologies for ruining your day. Edited March 26, 2013 by MrWorldwide Link to comment Share on other sites More sharing options...
FunFon Posted March 26, 2013 Share Posted March 26, 2013 I was referring to somtampet's earlier post re lady drinks - nothing to get your knickers in a twist over. Obviously, that should have read 'Queens Park' - apologies for ruining your day. - Nothing's in a twist, I was just a bit puzzled. And still am - you mean the expensive hotel near the Emporium? Still not making the connection. But wrt to alcohol being expensive, totally agree that the actual bar tab is often a tiny fraction of the cost of the subsequent consequences of the resulting stupidity. Staying sober definitely results in freeing up lots of money for healthier and more fun leisure activities. Link to comment Share on other sites More sharing options...
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