Married Expat looking for financial advice

[bangkapi]

For great investment advice and insights, read www.zerohedge.com

[csabo]

I have only one thing to add that may help. People who do not grow up wealthy or even well often come into a chunk of change somewhere in life. It happened to my parents, it happened to me, it happens to many. I can tell you a sort of frenzy washes over the brain when there is suddenly money in the bank. If you are not very careful, you apply your current money mind to the new found wealth and it's gone in the blink of an eye. You seem sharp and level headed so far and I am not suggesting otherwise but when you mentioned the gold purchase and a potential new car I saw the signs. My recommendation is pause...let the money sit in the bank until its no longer calls to you everyday saying "spend me, spend me". Don't tell your wife either. During this time, research, plan, think about life insurance, long term sustainability, retirement years. A new car will do nothing for you in the long run. I invested mine in a home (not in country where I can't own it). The market doubled when I sold 10 years later and my ex and I did well. Had I left it to her, it would have been closets full of shoes.

[csabo]

Morning Everyone,

Thanks for the replies they've been very helpful and I will take it all on board. Funnily enough I had a few PM's recommending financial advisers within minutes of posting... I have to give them 10/10 for trying.

The amount was around 300,000 GBP so not a bad sum and no I haven't told my wife about it. I've been tempted to buy a new car with it, but I already have a car, so no big spends.

I will certainly keep it outside of Thailand. I guess I will keep a million baht here in Thailand spread across a few difference banks for a rainy day.

My only concern about it in the UK (or any country) is if there is a banking crisis there (like in Greece) so I invested 60,000 of it in gold bullion which is kept in a safety deposit box. I was thinking about investing a little more in precious metals.

Is it worth opening a few different offshore accounts (HSBC / Citibank in Singapore?) and keeping some money there?

I guess the best investment for it would be property in the UK. I actually sold my house in the UK when I 21 and moved here. I had rented it out for a year and had some bad tenants that literally trashed the place. I didn't want the headaches of renting so sold the house so not sure if I want that again.

Again, thanks for the constructive replies.

Justin.

wouldn't touch investment companies I did they had my money for 7 years I took all the risk they took there commission and if there was anything let I got it, after 7years all I got back was all my funds no profit and was told I was lucky I never lost any of my money.

You lost 4-9% you just don't realize it.

[csabo]

Since you are married and you came by this money while you are married, 50% of this money belongs to your wife already. If you buy a house / land under her name, you are entitled to 1/2 the property value should you get divorced in the future.

In general, although about 50% of marriages in the west end in divorce, I never understand those who live their lives in daily fear of the bad relationship that might (or might not) occur in the future (so many here in TVF keep contemplating what will happen if the marriage will go sour before they even get married to a woman they claim the LOVE...).

BTW - the NUMBER ONE reason to ALL divorce cases is marriage.......................

With due respect to love which has it's merits, marriage is a business partnership. Nothing more or less. With imbalanced risk to one partner as well.

[Inquisitorial]

Invest in Condo in Thailand either to live in or rent out and a property you can rent out in the UK that way you wont have all your eggs in one basket.

From what I am reading there are some good buys to be had in the Condo market if you are prepared to barter.

[Tigger01]

If you want to invest in property best to buy in the UK where the market is as safe as anywhere. Bad tenants are always a risk but carry out sensible checks and you should be OK. The rent from the UK will give you a nice monthly income and should rise in line with inflation giving you peace of mind for the future.

[Tigger01]

If you want to invest in property best to buy in the UK where the market is as safe as anywhere. Bad tenants are always a risk but carry out sensible checks and you should be OK. The rent from the UK will give you a nice monthly income and should rise in line with inflation giving you peace of mind for the future.

[PeCeDe]

OP, you sound like a bright person, well clued out about what is happening here in Thailand.. My advice would be to do what you think is right, because I think you already know what to do, and are merely looking for confirmation. Just look at what you have already given, and don't discount it. Your family has the chance of a second nationality, survivors benefits, etc. etc. In my book you're a lucky guy as are your dependents.

Don't spend it all in one place and enjoy today.

[kingstonkid]

For what it is worth

Here is a suggestion.

Take a small percentage of the money you would need for a partial down payment.

Invest the rest of the money in something in your name only.

Then buy your house. As long as you are making mortgage payments it is not much different than renting. Therefore if something does go wrong in your relationship you have lost little more than you would have.

You can always make a will that gives the money to your son QUIETLY so that no one knows until that day.

That protects you and your family

[1FinickyOne]

Well, good for you about being thoughtful… and unless you expect other and regular "hits" of cash - you are wise to be careful.

I would say that you should shoot for diversification… I am not sure where you are in Thailand but there are places where you can buy relatively inexpensively. Why not buy something for a couple million baht and take the advice that a more probable way to wealth is to live well below your means..

You are young. I would not blow it all in Thai property, which could depreciate, as many many houses here do… though there usually is appreciation in the land…

Diversify, keep working - you may need the $$ somewhere along the line to expand your business… and that might ultimately be the best investment you can make...

good luck.

[surfinglife]

Morning Everyone,

Thanks for the replies they've been very helpful and I will take it all on board. Funnily enough I had a few PM's recommending financial advisers within minutes of posting... I have to give them 10/10 for trying.

The amount was around 300,000 GBP so not a bad sum and no I haven't told my wife about it. I've been tempted to buy a new car with it, but I already have a car, so no big spends.

I will certainly keep it outside of Thailand. I guess I will keep a million baht here in Thailand spread across a few difference banks for a rainy day.

My only concern about it in the UK (or any country) is if there is a banking crisis there (like in Greece) so I invested 60,000 of it in gold bullion which is kept in a safety deposit box. I was thinking about investing a little more in precious metals.

Is it worth opening a few different offshore accounts (HSBC / Citibank in Singapore?) and keeping some money there?

I guess the best investment for it would be property in the UK. I actually sold my house in the UK when I 21 and moved here. I had rented it out for a year and had some bad tenants that literally trashed the place. I didn't want the headaches of renting so sold the house so not sure if I want that again.

Again, thanks for the constructive replies.

Justin.

"I sold my house when I was 21"!!! Can't understand why you are asking about financial advice. I consider myself reasonably well off now but at 21 I was living in a cheap rented room, running to University lectures every day and only dreaming about owning a house sometime in the distant future.....but I guess you skipped the education part opting for marriage instead. An interesting choice but I guess it's your life.

[MichaelJohn]

I think your opening post says everything you need to know.

If you're making money from your business look on the inheritance as an extra; no need to generate a great return on it, be happy with what you got. Renting sounds good but the returns in the UK are poor for the hassle/risk and the tax is high now.

You're right, no one knows what happens in 10-15 years time and you are right to be skeptical. (I was very happily married to a Thai for 15 years before it all went wrong).

If you do bring some money here do it for your child; put any land or property in their name.

I would suggest you keep the rest in the bank in the UK; invest it as best you can and use it to enjoy your life over and above what the business can deliver for you.

[BKResort]

If you and your wife are happy what is your situation and hers at this time, do not change anything! Money changes minds!

You are right. You do not know what will happen with your marriage in the future, even what will happens with Thailand in the future.

Your kids will be independent in few years, even may decide to move out the country.

My opinion. Keep your extra money safely invested in your home country, or in any other country were your wife only can have access with your consent, and only after your death, if that is your will.

Edited December 22, 2015 by BKResort

[ktownsoi12]

Don't put all eggs in one basket even if it's a UK brokerage or bank. Doesn't hurt put some in a Thai brokerage and buy some gold or oil or even some reits or dividend plays that yield 5 to 7%. Or just put some in Thai bank. As long as it isn't on 1 place. 10m baht condo that brings on maybe if lucky 45k baht monthly is only 5% cap. You can probably diversify or even generate income off investment vehicles ...

[Michael Schrepfer]

Until you have a better use of your money you can buy physical gold -not gold certificates which are not backed

by physical gold ! Gold doesn't pay dividends or interests which must be declared to your tax office.

Buy only in Singapour where are no import duties, no taxes whatever. Singapour dealers will buy,and store

in your name ( no mutualized investment ! )and you can resell to them whenever you want or walk away with your gold if you want. .

[Don BanPho]

Hi Justin

That is a great sum of money, and its hard to not want to do SOMETHING or ANYTHING with it but this is probably a once in a lifetime and there is no rush to decide.

For now put it in a savings bank in the UK and then you will get something for it while you decide. One thing is for sure if your making enough money and don't need to spend it now then you should look to invest it for the future, The right advice is to find four or five different investment instruments (Property, stocks, Bonds, savings accounts and keep some (10%) in reserve as cash should you need it.

I know you have had your fingers burned with rental property before but a good estate agent and the right investment model can create a pension for life.

Property:

In the Reading area you can pick up a four bedroom house for about 280k. if you get the right style they have a long lounge which you can subdivide into two more bedrooms. 6 rooms can be rented individually in this area yielding approx. 3k per month. This is 36k per annum will pay for the house in 8 years. The property expectation is for these to appreciate to 462k over the next 10 years. So 3k per month for life and appreciating property value. You don't need to use all of your cash a 20% deposit 60k will still allow you to invest in other instruments while the rental pays the mortgage.

I have two of these..

Stocks and shares

Whilst your money can go up and down in the market the next 5 years will be good, buying into cash rich companies with good prospects will give a good capital return and look for those that pay dividends. Companies like BT currently about £4.60 are giving good growth and increasing dividends. again go for a 5 times strategy, not all of your money in one stock no more than 10k per company.

I have lots of these.

Overseas property

You can also look at overseas property places like Tenerife have all year sunshine for holiday letting I have a two bedroom villa, on the beach and it has an occupancy of 96%, local management companies do the maintenance and cleaning and the Spanish property market will see significant growth over the next 10 years as there economy is now turning the corner (I lived in Thailand for a year and you can do everything online for bookings)

I could go on but I think you get the message, take your time, play for the long term, diversify to limit any losses.

A survey of the top 100 CEO's recently asked them a question "if you need to make a big decision and you don't know what is the right answer what do you do"..... 86% replied "do nothing" In your case here today that's the right answer until your confident and know what your doing don't rush in.

I was chased by a Japanese broker once to buy into BYD a company that specialised in making electric car buyers, if you search for it you will see Warren Buffet invested 6 Billion, (the wealthiest man in America). At the time they had peaked at 80hkd TODAY five years later they are 42. The broker spent quite a bit of time arranging the deal and was furious when I said no, I decided to wait a year to see how they performed could have been a missed opportunity but no, a year later they had sunk to 16hkd.

So don't rush take years to decide, don't be afraid to say no, even at the last minute if your not sure. Always diversify so if something goes wrong it has minimal impact and whilst it is right to re-evaluate your investment weekly don't make snap decisions based on regular market corrections, if the company is profitable, got cash in the bank and paying dividends ignore market fluctuations.

If you invested correctly you can easily turn your 300k into a million within ten years - live within your means and knowing that financially your fireproof will allow you to have a happy life.

I live in London but I am in Buriram for the next two weeks if you fancy a beer and I can explain more if your interested

All the best and good luck

Cheers

Don

If you invest wisely

go for the 25- 35 Post graduate looking for a

[Liquorice]

Why do you have to do anything with the money.

Think to the future, your not going to get a UK Pension are you!

Invest it without taking risks in something secure and forget about it.

Make a Will as your son/wife as the benefactors, which can always be changed later if the marital status changes.

[MMF]

Hi Justin

here are my thoughts on your prediction.

Use some of your money to have a cumfotable life here with the wife you trust but, the wife situation is the same in every country, marriage is a gamble, some work for ever, some don't.

I, for example married twice in UK to English women (I'm Italian) first lasted 17 years, the second 12. Don't get me wrong, I don't regret any of it, its just the way it goes for some people. I could write a book on the marriage-divorce subject. I'm now with a very gracious woman here in Pattaya, we lived together for 5 years now and, all is well.

So, back to finances; If I was you, i would keep most of my cash in UK and talk to a trusted financial advisor (I can recommend mine) you never know how things will turn out here and, I'm not just talking about wife, there could be numerous reasons why you will want to go back to UK.

Hope this helps for you to make your mind up on your future.

All the best

Maurizio

[Eric Loh]

I would suggest that you have a discussion with Citibank Thailand Personal Wealth Management and they will design investment services around your needs.

[justinfreidman]

I will definitely take some time to think about any decision I will make.

I definitely learnt the hard way (and the best way) about blowing money in the past. I left home when I was 16 and started working as an office junior for an IT firm and quickly moved up the ranks (due to hard work and dedication). When I was 19 I bought my first house (with a mortgage) After living in Thailand for a year and having issues with tenant's renting my house back home, I sold it. I made about 90,000 GBP from the sale which was a huge sum of money to me.

And guess what? Yep, I blew the lot within about 5 years mainly on hookers, drinks & dr*gs. The only thing left to show from that money is my 10 year old car.

At one point I was down to my last 30,000 baht and it looked like I was going home broke. A small business opportunity arose and I quit the drink and dru*gs and knuckled down to work. Having customers that relied on my gave me a responsibility and I haven't drank in 10 years and have worked my ass of to get where I am now.

Now my responsibility is to my wife and children and I must do the best for them. Last year (before any windfall) I was finally able to send my daughter to an international school. It was a huge chunk of money to pay, but worth it for her future. I want to do the same for my son.

My current business here does very well. I actually make more than here than I did in the UK, so I must be doing something right.

In an ideal World I would love to buy a villa on a hillside with a sea view. I have spent the past 10 years servicing beautiful villas like these and have always wanted to own one. With this money I probably could. However, I must put my wants and wishes aside and consider the future for me and my children.

I guess if I could buy a villa and own it properly in a company name that would be perfect, however as I understand owning property through a company isn't 100% due to shareholders, nominees, etc.

Again, thanks for all the replies, there is a lot to think about.

Justin.

[fletchsmile]

For now just ensure it's spread across different banks so the total is covered by the deposit protection acts of the relevant countries. At the moment if you have GBP 300k in a UK bank, you're over the threshold for protection, so if you're bank goes bust you're significantly at risk. Probably a low probability but why take the risk

GBP/THB is at a reasonable level so you could probably move about 1/3 here and keep 2/3 s in UK spread across 3 different banks.

Then take your time to really think about it. Lot of possibilities, UK, offshore, onshore in Thailand, but first make sure it's covered by bank protection, then you can relax and take your time.

[bark]

Joined 4hrs ago.... Hmmmm

Yes, I agree.

[justinfreidman]

Joined 4hrs ago.... Hmmmm

Yes, I agree.

Agree with what? Just because I recently signed up doesn't mean anything. I've been reading thai visa for almost 12 years. This is the first time I've ever wanted to ask for advice.

[ozyjon]

I read your line on investing in gold,,,

with gold delete the word investing and call it

loosing money with gold,, as i read you post i

have the money channel running on TV and

they were talking about gold,, the prediction is

that it has fallen to about US $1000 an ounce

and predicted to fall to US $900 an ounce,,

Why do people think gold is a good investment

why do people buy gold and call themselves investors

don't do what you don't know ???

don't invest ???

[NoshowJones]

If you dun trust her why you marry her ? If you can afford to lose why not place the bet ? if you can't afford to lose why come here ?

I don't agree with this at all, the OP probably trusts his wife completely, but life is full of chances and sometimes you

take them, you will never get on in life without taking chances of some sort, you just have to use some common sense,

weigh things up, and do what you think is best.

[NoshowJones]

If you dun trust her why you marry her ? If you can afford to lose why not place the bet ? if you can't afford to lose why come here ?

Where did I say I don't trust her? I have no idea what the rest of your sentence is saying.

I would not pay any attention to the previous post, there are a lot of Thaivisa members who are part of "if you don't like it, then go home" brigade.

There are some sensible answers here for you, just weigh them up and do what you think is best.

[NoshowJones]

The other thing I've considered is buying a few condos to rent out.

Tread very cautious there. There are empty condos all over Thailand.

Edited December 22, 2015 by possum1931

[SpokaneAl]

Well, good for you about being thoughtful… and unless you expect other and regular "hits" of cash - you are wise to be careful.

I would say that you should shoot for diversification… I am not sure where you are in Thailand but there are places where you can buy relatively inexpensively. Why not buy something for a couple million baht and take the advice that a more probable way to wealth is to live well below your means..

You are young. I would not blow it all in Thai property, which could depreciate, as many many houses here do… though there usually is appreciation in the land…

Diversify, keep working - you may need the $$ somewhere along the line to expand your business… and that might ultimately be the best investment you can make...

good luck.

I agree with the diversification comment. When you buy a single rental unit or even a couple you have no diversification - everything is tied up on property. Also, I don't know if you have had much experience on being a long distance landlord, but my experience convinced me that I never would do that again. When something needs fixed you pay, and there always seems to be something that needs fixed. If the renter moves out - and it will happen - you are paying to fix, find a new renter, cover the upkeep with no income etc, etc.

It is a bit like death from a thousand cuts.

I suggest a well diversified portfolio of no load, low cost mutual funds in an asset allocation that meets your time horizon. Then don't worry out the day to day returns, keep the long view, and you might just arrive at retirement able to fund a lifestyle that you deserve and expect.

Edited December 22, 2015 by SpokaneAl

[MaeJoMTB]

If your money is in the UK, rather than ask here, why not go to a REPUTABLE IFA (one who's covered by the FCA) and get professional advice.

If you don't live in the UK, the FCA won't represent you or help in any way.

You ain't covered. It's for UK residents only.

[louse1953]

Joined 4hrs ago.... Hmmmm

So what,when you joined,at a point in time it was 4 hours ago,as with all of us.Most of us asked a question as well.