£15000-to Bring To Thailand

[tommieroo]

Hiya Folks,

You've probably seen a few of my post now, but if you have'nt im a 22yr old Test Technician in the aerospace industry, and im looking for work in Thailand either in engineering (my bk ground) or maybe teaching.

But as my brain is constantly ticking about the if's, whats, and maybes im planning ahead. My plan is to come to thailand and try and find work!

I will be bringing £15000 with me but i dont really want to eat into that, but if worst comes to worst, how long would 15k last me ?

I have calculated 2yrs on around 40000 bahht a month.

i would be intrested to hear your opinions on this subject.

Kind reguards

tom

[GuestHouse]

Stick half of it in a growth ISA and blow the rest in Thailand. If you haven't found work in six months you aren't going to find work so why blow more of that real money from back home.

Small savings I made when I was in my early 20s have turned into a very nice pension nest egg and real opportunities now I'm aproaching my 50s.

[expatgaz]

Hiya Folks,

You've probably seen a few of my post now, but if you have'nt im a 22yr old Test Technician in the aerospace industry, and im looking for work in Thailand either in engineering (my bk ground) or maybe teaching.

But as my brain is constantly ticking about the if's, whats, and maybes im planning ahead. My plan is to come to thailand and try and find work!

I will be bringing £15000 with me but i dont really want to eat into that, but if worst comes to worst, how long would 15k last me ?

I have calculated 2yrs on around 40000 bahht a month.

i would be intrested to hear your opinions on this subject.

Kind reguards

tom

Tom, if your 22 and a Test Tech in the aerospace industry you should continue with that.Based on the money which can be earned in that specific field you could do another 10 years, enjoy holidays in LOS then retire quite comfortably by your early to mid 30's.Makes much more sense if you ask me.

EPG.

[BKK90210]

I just don't understand it why lately there's seem to be a pattern of younger and younger people who're lacking in both knowledge for getting a good job here or lacking in any assets, but wanting to move to thailand and assuming that they will make it here and life will be very wonderful in thailand - fun in the sun for them? May be someone can decode this for me?

[Scottbiker1976]

I just don't understand it why lately there's seem to be a pattern of younger and younger people who're lacking in both knowledge for getting a good job here or lacking in any assets, but wanting to move to thailand and assuming that they will make it here and life will be very wonderful in thailand - fun in the sun for them? May be someone can decode this for me?

I just think that most people are sick of the western lifestyle and want to have a more relaxing lifestyle.....it's not about the money of getting rich i think, it's more to have a more comfortable lifestyle then you could have at home because luxury is more cheap then in our homecountry.

For me its like that, im moving to Los after visiting it for multiple times now, i met my girlfriend there and i want to give it a try here with a business in july.......and i think it's better for me and my gf to come to Los and make a future here then that she would come to Belgium even though she have an university degree, it's almost worhtless in Europe...

And for us, if we just can have the lifestyle i have now at my place in Belgium then im already very happy, i dont need to be rich, but the advantage i have is then always good weather, close to worlds most beautifull beaches, more freedom and better mentality of peoples in all kinds and good food....

My girlfriend is now with me in Belgium for 3 months just to show her that it's not all gold and glory you see like in the movies here.......so she will have a more clear picture about our culture and habits when we go back in july to Los

[BKK90210]

Scott

Well...good for you. At least you and you girl friend have some business venture in mind. Go for it...give it a try!

But what I'm talking about is for those 20s something who have no education or any plans in mind of what they want to do with their life ahead of moving there except teaching English is the mean for getting themselves by. Don't get me wrong, there is nothing wrong with teaching. But I would think it's ok for just a few yrs time while exploring all the adventures in thailand....but for long term? I just don't know. As for being a thai, I still don't think I would make it there....good job and good pay. Teaching english will not give me that much to save for the future. I know money is not everything but it's sure nice to have than not. When you're young 8 out of 10 problems can be solved by money. That's why I choose to stay in the US (tough it out) building up my assets and nestegg and now I have enough, I think, so I'm ready to go back home. So far in my 25 yrs here in the US, I have gained enough academic knowledges, work experiences, life experiences, along with money - that I think I can do something good for the country....may be it will not be much but at least I'm willing to help out around the office.

May be.....Running for the city council like my uncle or something likes that.

[jimbob]

15,000 is about 1 million baht so you might consider what an earlier poster said and stick half of it in an ISA in the UK. The other half million could be used to create some money earners for you. A few friends make a good living out of buying, selling and renting motorbikes and cars. Or you could start a website and try to squeeze a few baht out of it in advertising. English teaching seems to not be much of a money maker but could be okay if you have a few things on the side and some cash in the bank. I think it is best to avoid making any purchases of existing business (esp. bars and restaurants) and keep in mind that property literally ties you and your money down. At least bikes and cars can be flogged quickly.

My best advice is to budget for two

[expatgaz]

15,000 is about 1 million baht so you might consider what an earlier poster said and stick half of it in an ISA in the UK. The other half million could be used to create some money earners for you. A few friends make a good living out of buying, selling and renting motorbikes and cars. Or you could start a website and try to squeeze a few baht out of it in advertising. English teaching seems to not be much of a money maker but could be okay if you have a few things on the side and some cash in the bank. I think it is best to avoid making any purchases of existing business (esp. bars and restaurants) and keep in mind that property literally ties you and your money down. At least bikes and cars can be flogged quickly.

My best advice is to budget for two

Not a good idea in my opinion.Lets look at a few figures.Invest half in an ISA would be 7,500 pounds.Not a lot.Invest 7,500 in what ? How abt initial cost of flight over, say 600 pounds, initial accommadation say 200 lay out for a months rent, how abt initially wanting to have a weeks holiday on arrival, another 300 pounds at least.This is ALL before deciding on a business and getting sorted with permanant digs.In my reckoning your 7,500 becomes 6,500 AT BEST before your started and to be quite honest I can't see 6,500 getting you far.These things need a lot of thought and in cases money.Motor bike rental is O.K in peak season but a lot of guys doing it so is there market for more and the figures are abt 700 pounds for a new moped so at best you could maybe buy 8 and you can rent for abt 2,500 baht per month which is less than 40 pounds so that would bring a grand total of 320 pounds per month.Not very much is it ?? oh...and your months rent is finished so you now have to pay 140 pounds a month rent !!

EPG.

[GuestHouse]

But what I'm talking about is for those 20s something who have no education or any plans in mind of what they want to do with their life ahead of moving there except teaching English is the mean for getting themselves by

It's not just young people, I've lost count of the guys who turned up asking if we have work for them having seen the company name around town. Occasionaly qualified for a job, but mostly not.

The thing they miss is, if its hard making a living back home, its harder in Thailand, not just lower pay for most people, but ten or more people waiting in the wings to take your job/business if you so much as blink.

Except for an extremely small number of people, Thailand is not a place to make money - it remains a great place to spend it. Getting the head around the difference is difficult for some folk.

[jimbob]

..

Edited May 10, 2006 by jimbob

[jimbob]

Not a good idea in my opinion.Lets look at a few figures.Invest half in an ISA would be 7,500 pounds.Not a lot.Invest 7,500 in what ? How abt initial cost of flight over, say 600 pounds, initial accommadation say 200 lay out for a months rent, how abt initially wanting to have a weeks holiday on arrival, another 300 pounds at least.This is ALL before deciding on a business and getting sorted with permanant digs.In my reckoning your 7,500 becomes 6,500 AT BEST before your started and to be quite honest I can't see 6,500 getting you far.These things need a lot of thought and in cases money.Motor bike rental is O.K in peak season but a lot of guys doing it so is there market for more and the figures are abt 700 pounds for a new moped so at best you could maybe buy 8 and you can rent for abt 2,500 baht per month which is less than 40 pounds so that would bring a grand total of 320 pounds per month.Not very much is it ?? oh...and your months rent is finished so you now have to pay 140 pounds a month rent !!

EPG.

The trick is not to buy new but to buy second hand. Buy cheap and clean them up and over a high season you get yourself a nice little income and then you sell the bike when you get to low season for the price you bought it for. Buy a bike for 20K, rent it for 4 months and make 10k then sell it for as close to purchase price as possible. That works out to around 50%, I know several people that do this successfully with 10 to 20 bikes. Some even have formed a collective pool of bikes. Cars are even simpler and can make decent sums in places like Phuket (20K per month).

Keeping a decent sum of cash in a Cash ISA would give the OP a nice little back up should he decide to go home after six months.

And 7,500/ 500,000 baht in spending/semi-investing money should be good to keep him for six months in relative style, and a lot longer if you get teaching work or do some business on the side.

[GuestHouse]

More than that.

NOW is the time to start saving for retirement. My father forced retirement saving on me by demanding I either start saving at 18 or I increase the house keeping I gave my mother by an equivelent amount.

Back then I thought I wanted to have all the options, all the choices then and there - It turns out my old man was right - Options are great when you are young, they become a godsend when you are older.

So split the pack, spend some and save some.

But what ever you do, do not take all your money to Thailand.

As for the oft quoted 'But I might not live that long' - Oh but you will.

[~G~]

The other half million could be used to create some money earners for you.

Sounds easy.

A few friends make a good living out of buying, selling and renting motorbikes and cars.

For buy and sell you need a very big space. For renting you need a big fleet and a very good location. Otherwise it's pocket money.

Or you could start a website and try to squeeze a few baht out of it in advertising.

Sounds ever so easy. Most websites started in that way don't even pay for the expenses to maintain them, even if the founder does all the development himself. Obviously the successful ones are the ones found easily (like ThaiVisa.com), which can create the illusion that it trivial to create a successful site. I'd bet that 99% of the are sites online are seen by less than 10 visiors a day (this means that profit from advertising will not even cover the domain cost). For a site to give you a decent living from advertising, it should be a sensation. For it to be a sensation, you will have to work hard, no easy money here.

property literally ties you and your money down. At least bikes and cars can be flogged quickly.

are you joking? cars and bikes loose value with every day that passes and with every mile you drive them. Flogged easily? Either with significant loss or to a bigger sucker.

[expatgaz]

Not a good idea in my opinion.Lets look at a few figures.Invest half in an ISA would be 7,500 pounds.Not a lot.Invest 7,500 in what ? How abt initial cost of flight over, say 600 pounds, initial accommadation say 200 lay out for a months rent, how abt initially wanting to have a weeks holiday on arrival, another 300 pounds at least.This is ALL before deciding on a business and getting sorted with permanant digs.In my reckoning your 7,500 becomes 6,500 AT BEST before your started and to be quite honest I can't see 6,500 getting you far.These things need a lot of thought and in cases money.Motor bike rental is O.K in peak season but a lot of guys doing it so is there market for more and the figures are abt 700 pounds for a new moped so at best you could maybe buy 8 and you can rent for abt 2,500 baht per month which is less than 40 pounds so that would bring a grand total of 320 pounds per month.Not very much is it ?? oh...and your months rent is finished so you now have to pay 140 pounds a month rent !!

EPG.

The trick is not to buy new but to buy second hand. Buy cheap and clean them up and over a high season you get yourself a nice little income and then you sell the bike when you get to low season for the price you bought it for. Buy a bike for 20K, rent it for 4 months and make 10k then sell it for as close to purchase price as possible. That works out to around 50%, I know several people that do this successfully with 10 to 20 bikes. Some even have formed a collective pool of bikes. Cars are even simpler and can make decent sums in places like Phuket (20K per month).

Keeping a decent sum of cash in a Cash ISA would give the OP a nice little back up should he decide to go home after six months.

And 7,500/ 500,000 baht in spending/semi-investing money should be good to keep him for six months in relative style, and a lot longer if you get teaching work or do some business on the side.

We will have to agree to disagree on this one.To me it isn't a good idea or investment or business.

EPG.

[jimbob]

I think the key to making tea money is to diverisify. With websites you really need more than one to make a living, most hotel/tourist sites have 10 or 20 on the side (if not more). As for bikes and cars if you know where to buy and who and how to sell/rent you can certainly make some cash if you do it correctly. Anyway these are the two things that could be done and potentially make some money in the OP's budget without him having to spend a huge chunk of his cash. And both of these would give time for the OP to do some work on the side.

If he had more than that I would advise to invest in property and land, that is the real money maker, but again only if done correctly.