Advise needed - Investment & Savings in Thailand or Abroad?

[Thaibelg]

Hi Guys,

I’m an expat living and working in Thailand for 10 years and have been sending regularly savings back home in Europe. I’d always found the Thai Baht not favorable and decided to make a loss with currency exchange rates and banking fees, just to have my savings in a more “stable” currency.

But lots of things have changed in Europe these days, you have the weakening of the EURO (still relatively good for foreigners coming on Holidays to spend their money here), but on the other hand the Thai Baht is also devaluating against strong currencies, because of the ongoing political turmoil. Besides that we’re encountering an inflation of currency, due to the rising cost of goods, food etc.

I know there’s no ideal solution for this. But I’d like to hear some opinions here as to what may be the best long-term strategy on savings? Keeping it here in Thailand in Thai Baht or sending it to an off-shore account in EURO, USD?

Thanks!

ThBg

[billaaa777]

If somebody was able to answer your question correctly 100% of the time, they would be the richest person in the world.

Good luck with your research.

[chiang mai]

THB is not devaluing against all strong currencies, it's fairly flat against GBP.

[infinity11]

Singapore dollar?

I don't know much about the chinese currency but i hear/read the SD is great if not the best.

What about the age old swiss franc?

Not what it used to be?

[Soutpeel]

I would just keep doing what your doing but bring what your have in Europe, assuming its in Euro/GDP or USD and stash it somewhere like Singapore or Hong Kong, and keep building up a slush fund out side of Thailand.

not being a doomer and gloomer, but Thailand is not exactly "stable" and could one day go down the tubes, so always better having a little nest egg stashed away somewhere for a rainy day

[cooked]

Thailand looks like it's going to crash for various reasons. Get some Swiss Franks, buy some gold

http://www.forbes.com/sites/jessecolombo/2013/11/04/thailands-bubble-economy-is-heading-for-a-1997-style-crash/3/

I don't follow all of his reasoning but put in a nutshell, if China goes, so does SE Asia

[chiang mai]

Oh deary me!

[wym]

The USD pound and Euro are castles built on sand, IMO the baht is long-term much better.

IMO Singapore, Norway, Swiss, Australia, Canada certainly better than the above western currencies.

Don't put all our eggs in one basket, no harm in holding physical gold if you think a global crash is possible.

[Maestro]

Duplicate of this earlier topic: http://www.thaivisa.com/forum/topic/715633-investments-savings-thailand/

[StreetCowboy]

Don't invest in money. It is useless paper. Keep whatever you need for a rainy day in the currency you expect to need it, and the rest, invest in productive assets - stocks, shares, unit trusts, investment trusts, property, your own business, whatever. Green paper is just paper, with no value other than what you can buy with it, and that is subject to arbitrary fluctuation.

SC

[Spaniel]

For simplicity both Warren Buffet and John Bogle the founder of Vanguard both recommend putting your money in a Index fund like Vanguard Total Stock Market Index. Simple long tern strategy that is hard to beat.

[yermanee]

I would say it depends on how high the interest rates are and how much the tax is on these.

Yermanee

[onlycw]

Well, I like the opportunities in the US of A. Both real estate and certain high yield (often double digit and not taxes at the corporate level) REITS. NLY for example.

If you manage to buy some mobile homes and fix them up in a month or two, and get a PM, you should be making about 20% in your sleep.

Over here - take real estate. It's a buyer's nightmare, JMHO. what's the return? I've seen 20 M Baht villas for rent @ 40,000 B. How crazy is that?!?

Be careful - and move your money out of EU-Land. Bad things are happening over there... JMHO. Read some articles by Bernard Connolly if you are into economics.

[infinity11]

Timing is everything.

Wait for the next BIG LOW???

Last one was around 2008 so should be coming soon?

'be greedy when others are fearful and fearful when others are greedy' WB

[Cosmo88]

In general, the "location" of money and the "currency" of money are two different things.

Regarding location, perhaps the most important aspect is whether the government in question offers any kind of guarantee to depositors in case the bank in question fails.

Regarding currency, who knows what is best. Might as well follow your horoscope. :-)

[Ricardo]

I'd tend not to risk keeping all my savings in any one country or currency.

[siamtwin]

BITCOIN. Put everything in BITCOIN.

Sent from my iPad using Thaivisa Connect Thailand

[tingtong]

A simple advice about savings and investment:

IF you like to have savings DONT invest in Thailand.

but seriously, OP,

10 yrs here... how do you see that "but on the other hand the Thai Baht is also devaluating against strong currencies, because of the ongoing political turmoil"

If anything, vs. 10 yrs ago, a rather strong appritiation there, only some change recently...in the meantime were plenty political and economical turmoil, from Taksin to coup, from recession to flood.

IMO unless you plan to stay here indefinite, it is lot better, safer, and wiser to keep as much of your money out of Thailand as much you can.