Married Expat looking for financial advice

[louse1953]

Be happy you have this windfall and leave it in the bank in the UK for a rainy day.

Thailand is a poor investment anyway you look at it.

If you are smart, save the money and move your wife/son back to the UK where he can get a world class education.

That is the best investment a father can make.

Fair enough,but after 15 years of the good life in Thailand,Dad would be grumpy for 20 years in UK.

[dirtycash]

Stay as you are. Do not make home in her name.ever !! I have a house sitting in isaan gathering dust or maybe her families living there now. 2 years ago we were still in love with a beautifull 6 year old daughter . Now its over. Funny old world but these unseen things happen to everyone. Invest in nothing. Keep your money in your bank tell her nothing, would she tell you ? Would she build house in your name ? No she wouldnt.

[jpinx]

Spread the risk -- look at term deposits for 5 years to give you breathing space while you decide what you really want to do in life. For now it's just burning a hole in your pocket -- very very dangerous situation for you. Treat it for what it is - a windfall for your pension, because the chances are there will be virtually no state pension by the time you get to that age.

[MaeJoMTB]

Be happy you have this windfall and leave it in the bank in the UK for a rainy day.

Thailand is a poor investment anyway you look at it.

If you are smart, save the money and move your wife/son back to the UK where he can get a world class education.

That is the best investment a father can make.

Don't move the wife back to the UK, with a kid she will become entitled to everything you own, and is then liable to 'upgrade'.

Keep her in Thailand and your money in the UK.

Don't tell her you have the money either, if you tell her she will want it, sssssssshhhhh!

Never tell any woman about your money or where it is.

What they don't know about, they can't steal or murder you for.

Edited December 22, 2015 by MaeJoMTB

[sead]

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.

Rule nr 1....

Whatever you post here will always have more negative than positive replies.

Most negative answers is from guys that have thaiwifes and they found here a place where they finally dare to say something and not get kicked out.

[sead]

Search top 3 banks with highest bankrate. To get most of it you probably have to lock the money from 5 to 10 years.

Do not tell anyone about the money...

[justinfreidman]

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.

Rule nr 1....

Whatever you post here will always have more negative than positive replies.

Most negative answers is from guys that have thaiwifes and they found here a place where they finally dare to say something and not get kicked out.

True. I've read this forum nearly everyday for 12 years and have learnt a lot from it. The main thing I've learnt is that there is a lot of bitter people here and not to follow their advice.

When I first came here I remember telling an ex-pat in a bar that I wanted to live here. He told me to forget it, it's a horrible depressing life and that I'd never make anything here. I'm glad I didn't listen to him!

[scoutman360]

Since your business is doing well, and you don't need the money:

1. Keep the money out of Thailand.
2. Keep the money away from your wife's knowledge.
   1. Ask yourself, how many marriages end in divorce statistically?
   2. How many marriages end in divorce between farang and Thai's in Thailand statistically? That is the chance of you loosing it all. Is it worth those odds?
3. Invest in something back in the U.K.
4. Continue to grow your business in Thailand and share those rewards with your wife.

Best of luck to you.

[islandguy]

Buy a modest parcel of undeveloped land with a solid chanote and road access in an area that your wife would be willing to live in. Consider that a gift, free and clear, and a hedge for her and your son's future security. List it for 4 times what you paid for it and forget about it for 10 years or until a buyer appears with cash in hand. Get a preferred customer multiple currency account in Singapore to simplify your Asian banking and avoid Thai banks lack of protection. As for the rest of your funds, your guess is probably better than mine.......

[Gutenberg]

I cannot agree with all those comments about "keeping money out of Thailand".

I think the only places one can still make a fortune are countries in a change and that is also Thailand.

While back in Europe, everything is repleted and nobody has money to spend here in Thailand it is like the capitalist wild west, everything goes, best place for small business opportunities. To make 2 million dollar come with couple of million... Thai Bahts. Yes.

Property in Europe? If it's not in a city, I would run away. Yes, on paper they all increase in value but who is going to rent them in the future? In some European countries you just move a little bit out of the city, you will find already ghost towns. Plus, I got the feeling European govs will tax the **** out of us at every aspect. So property seems like a conservative safe investment but at those days I feel nothing is safe anymore.

So, if you have a good running company, why not invest in your business or start a new business?

[MaeJoMTB]

The main thing I've learnt is that there is a lot of bitter people here and not to follow their advice.

And I learnt that a lot of men have handed their women their balls on a plate, and hate every man that isn't as silly as them.

Edited December 22, 2015 by MaeJoMTB

[robertson468]

Be careful of buying stocks in UK Companies whilst you are living in Thailand. I own stock in Barclays plc and a few months ago wanted to cash them in and invest elsewhere. Their Broker told me as long as I am living outside the UK/EU I cannot legally cash in these shares.

My recommendation to you is, buy a UK property (which are still increasing in value, year on year) and rent it out either through Family/Friends or a Housing Company. If you still have cash left after that I would recommend that you invest in a good quality condominium, preferably second hand as they are inclined to devalue marginally after first purchase and rent it out. You can do this in your own name. This way you have a couple of bolt holes should things not work out with your Wife at sometime in the future. This would also give you a £ and baht income which can help defray some of the currency fluctuations.

I actually find it a little sad that you don't totally trust your Wife and regardless of what you say on this forum, it is very evident that you don't, or is it perhaps you doubt your judgement of the person you have chosen as a Partner? My story is I came to Thailand and built a small resort with my ill-gotten gains and had it held in a Thai Company. After we had been married five years, I knew this Girl every which way but loose and she gained my absolute trust. To recognise everything that she had done for me, including backing me 100% in whatever I suggested we do, I then signed all the properties over to her and closed the Company. That was five years ago and it was the best business move I ever made in Thailand. You might like to stop and think how unselfish your Wife is, who, it seems, has happily taken on a Family and "doubting Thomas" you, and if my guess (and experience of Thai Wives (of the non-bar Girl variety) is right, by taking far better care of you and your household than, sorry to say, some Ladies from other Countries might do, you might also like to give her the benefit of the doubt and invest a little more trust in her loyalty to you - unless you have good reason to think otherwise!?

Edited December 22, 2015 by robertson468

[itsmylife]

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.

Cam pm me to share your business ideal ?

[VBF]

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.

Incorrect MaeJoMTB

If the IFA is covered by FCA rules, and the investments are covered by FCA rules, the location or nationality of the end customer is irrelevant.

When I saw your post, I wasn't sure, so being in the UK, I telephoned the FCA https://www.fca.org.uk/site-info/contact.

They confirmed it - they also confirmed that bank deposits are covered by the FSCS http://www.fscs.org.uk/ and the Financial Ombudsman would still investigate cases of wrongdoing.

It's the firms who are regulated, not the customer.

What the customer should do, is ascertain their tax position - a good IFA will take all that on board, which is why early on in this topic I mentioned the one I use. There are other good firms out there but I will only comment from my personal experience.

[VBF]

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.

Don't worry Justin - that's why most of us signed up initially! I read lots of forums - post on very few. This thread has generated a lot of interest too!

Edited December 22, 2015 by VBF

[SantiSuk]

Like VBF, I also have Fry as my adviser on about one-third of my money (I advise myself on the other two-thirds). One of their experienced advisers (same guy - just not appropriate for me to ID him on a public forum) comes to Bangkok or Pattaya most months, being based in Singapore for Fry (qualified UK IFA and ex of a chartered accountant firm like myself). They seem thorough and very user-friendly. All advice given to UK advisory standards. They did not charge for the in-principle advice which included a thorough personal risk analysis based on my attitude to risk and written proposition on strategic plan and proposed investment plan. All mainstream advisers are going to charge you something of the order of 1% plus or minus half% of funds invested when you have agreed the plan, depending on the complexity of the structure. Annual charges will vary according to the extent of decision-making required by the adviser or hired portfolio managers.

Having invested in equities for 40 years and being reasonably adept with economics and financial statements I still choose to invest in pooled funds (using UK Investment Trusts heavily) rather than individual stocks. Now getting older and less inclined to put in the full effort so I will increasingly look to others to take some of the strain. I'm not afraid to pay for advice (having been a corporate finance adviser myself, but has to be done with rigorous monitoring and discussion and be prepared to fire advisers who don't perform - over the medium term.

Whatever you do put your money into several different types of things; in several different markets; and in several time periods, not at once.

I regard Thai banks as safe enough to have 3% of my total portfolio in Thai bank deposits. The rates are good cf the UK and it partly insulates you form currency risks if you intend to require funds in Thailand. You can get it tax free by reclaiming Thai tax suffered at source (but only if you have no other assessable income to Thai tax, which I see may not apply to you).

[Retired chartered accountant - not selling anything myself, not promoting anyone, do not have any conflict of interest in making above statements]

Edited December 22, 2015 by SantiSuk

[VBF]

Be careful of buying stocks in UK Companies whilst you are living in Thailand. I own stock in Barclays plc and a few months ago wanted to cash them in and invest elsewhere. Their Broker told me as long as I am living outside the UK/EU I cannot legally cash in these shares.

Robertson468,

I would suggest that your broker is incorrect, possibly worse. Unless there's something very special about these shares (in which case I may be wrong), I refer you to my post #74.

Edited December 22, 2015 by VBF

[flossiebear]

Buy appartment in uk that is maintenance free. Use reputable letting agency. There is shortage of property in uk, prices and rents are rising. Limited amount of people can afford to buy a house, this will not change now or in the future. So it's a win win situation as long as you take it as a long term investment. As you say things can change in life so don't put all your eggs in one basket in Thailand.

[Nomyai]

This dude seems to have a bit of common sense.

Id recommend keep the inheritence out of thailand. If you want build a house from your business profits.

[optad]

The parasites out there that find the PM button in these threads chills me. Dont answer!!!

Good luck Freidman.

Invest for the longer term. I prefer some stock/share aspects for you so in that general sense I hope you get literate about indexed funds such as Vanguard, probably the perfect interim term thing for you to do but....

I am just happier on page 4 than i was on page one that there is sense there in your head JF!!. You have had some wins and losses, you now have a family and determined to provide the best, even aspire to a view, these things are good and fine to want.

So I am happier. Indulge me though, what would your departed parent say if you can... put a smile on that person's face with plenitude here. Thread befits a gracious story methinks!!! AMDG

[KonaRain]

You can't move to Hawaii..without a million dollar visa I don't think, but You can come here for a while and buy income property. Owning the land or condo. We have a great shortage of housing, so rents are really strong.

Just an idea.

One great post I've seen here is how to move money (back) out of Thailand..

A very smart guy suggests a stock account,

Then it gave more options..

Good luck

Aloha

[Pinot]

Never buy property in Thailand. Rent. Buying property in Thailand is always risky.

Buy conservative dividend paying stocks or ETFs. Get financial help if you don't know what you're doing.

Enjoy your life and remember the time you actually thought about buying in Thailand.

[GOLDBUGGY]

Your money in your bank back home is safe there. But then the question arises what if something should happen to you tomorrow? Do you want this money to go to your wife and son, and if so have you made arrangements for that? You of course are young enough that you could afford life insurance for yourself and leave that for them in the even of your death.

I understand you being cautious. After 2 Divorces I wish I was like that to. There is ways to secure a property in Thailand using a "Usufruct" although you can not always get that in places like Pattaya anymore. I had no problem in N.E. Thailand though. It does protect you from being thrown from the house as soon as the marriage goes south, but it doesn't protect you in a Divorce. Nothing does really, especially concerning Child Support.

You are still and young man and you have many years to go if you plan on living in Thailand the rest of your life. I am not sure how well your business is doing but perhaps with that you could take out a large mortgage on a house paid over a longer period of time. At least then if things go south after a few years you won't but out for so much cash, but still have your house.

So I would hold your money in your bank as long as you can but make arrangements where your family can get it in the event of your death. If you are comfortable with your present marriage arrangement then perhaps look at buying a house using a mortgage. Having Financial Ties with your spouse is a good idea and can keep people together, who otherwise may not stick it out.

[PattayaPhom]

BP shares with a nice divi...quick as today already upto 351

[Nomyai]

You can't move to Hawaii..without a million dollar visa I don't think, but You can come here for a while and buy income property. Owning the land or condo. We have a great shortage of housing, so rents are really strong.

Just an idea.

One great post I've seen here is how to move money (back) out of Thailand..

A very smart guy suggests a stock account,

Then it gave more options..

Good luck

Aloha

65% down gets you break even cash flow................hahahahaha.

[justinfreidman]

I've had a couple of recommendations for investing. What do you guys think?

Invest in gold in exchange-traded funds that are traded on the London Stock Exchange and essentially track the price of the precious metal

Invest in shares – particularly those ‘income’ shares in the FTSE 100 that generally have a steady share-price but pay a good dividend rate (utility / insurance firms are usually good dividend shares) – though you have to view these as a long-term investment (5-10 years)

[Misty]

I've had a couple of recommendations for investing. What do you guys think?

Invest in gold in exchange-traded funds that are traded on the London Stock Exchange and essentially track the price of the precious metal

Invest in shares – particularly those ‘income’ shares in the FTSE 100 that generally have a steady share-price but pay a good dividend rate (utility / insurance firms are usually good dividend shares) – though you have to view these as a long-term investment (5-10 years)

If you really want to make solid decisions in this area, my best suggestion would be to start by reading a good book on investing. Here are some ideas:

The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between by William Bernstein

A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Eleventh Edition) by Burton Malkiel

It's certainly fine to ask opinions on an open forum and there may be some well-informed people here. But unfortunately no one can really lay out for you what works, what doesn't work and why in an internet posting.

And remember that investing itself is a long-term activity. Anything else is speculation.

[SpokaneAl]

I've had a couple of recommendations for investing. What do you guys think?

Invest in gold in exchange-traded funds that are traded on the London Stock Exchange and essentially track the price of the precious metal

Invest in shares – particularly those ‘income’ shares in the FTSE 100 that generally have a steady share-price but pay a good dividend rate (utility / insurance firms are usually good dividend shares) – though you have to view these as a long-term investment (5-10 years)

If you really want to make solid decisions in this area, my best suggestion would be to start by reading a good book on investing. Here are some ideas:

The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between by William Bernstein

A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Eleventh Edition) by Burton Malkiel

It's certainly fine to ask opinions on an open forum and there may be some well-informed people here. But unfortunately no one can really lay out for you what works, what doesn't work and why in an internet posting.

And remember that investing itself is a long-term activity. Anything else is speculation.

I agree that you should do some reading and studying prior to investing, especially with your thoughts about investing in gold, which IMO, is, for most of history a terrible place to put money that you are looking to grow. No earnings or dividends and a prime example of the greater fool theory. You buy it, and hope that paranoia or fear will drive a greater fool to buy it at a higher price than you paid.

[jpinx]

Buying gold is strictly to keep the wife happy -- ask Naam

Get long term fixed deposits going - it's easy, uncomplicated and will beat gold hands down any day of the week. I believe you're in UK, so you'll need to move money out of there to find a rate of more than 5% over 5 years. Beware of tax on the interest. Trying to "grow" a pension pot in the UK is a fool's errand nowadays -- unless you are highly proficient in stock investments. Just be grateful if you manage to keep your pot intact for your 65th birthday (or whatever year the UK government have decided on by the time you get that far.)

Make a will !!! NOW !!!!!! It does not need to be complex -- just a simple statement that you want everything to be turned into cash and split between people X, Y and Z in percentage proportions. You can change the will tomorrow, so it's not set in stone, but you MUST have a will if you own anything of worth and you're launching into a "new life". Be prepared to lose everything you bring to Thailand -- hopefully you won't - but be a good boy scout and there'll be no nasty surprises for you.

Edited December 24, 2015 by jpinx

[KNJ]

It is a serious chunk of change my best advice is to seek an IFA in UK and one that specialises in advice to Expats. Sure you will pay, but in UK they are now if licenced IFA independent of the products they recommend. Would you want a farmer working on your car... No you would pay a mechanic, and likewise pay an IFA. Talk to three or four ( try "findawealthmanager" )

Do not do anything quickly you may live to regret it.

Property can certainly be a suitable investment but if you need access to money in the short term, then it is not quick to liquidate. Bear in mind despite still rising prices prices can go into reverse

Read a few books, no correct that, read a lot of books and work out short medium and long term plans. Work out your risk tolerance.( Read Second Chance at least )

HSBC Jersey are useful for having available cash, although interest is pitiful, however you can maintain multiple currencies as well as access very easily, and there are certain benefits ( need 50 k to make it worthwhile ( Premier ))

have enough cash to get you through 6 months.

At your age you can certainly afford to take a longer term view however know your risk tolerance.

20% weighting in gold is a bit heavy IMHO however not a bad solution ( you are reliant on spot price and no interest is accumulated,)

Learn about compound interest, at your age you will benefit, as Einstein said "it is the 8th wonder of the world"

Finally listen to the best Financial advisor in the world............ YOURSELF