52 yo Australian retired what to do

[Kenny202]

Came here over a year ago and am very happy living here and sure I want to spend the rest of my life here (for now). I have a modest amount of money invested back home and drawing reasonable interest although I believe I am now deemed a non resident and will be paying a third of the pittance in interest earned in tax. As an Australian living abroad in future I will not be eligible for a pension. The way things are going no one will get a pension. Anyhow, I live well but modestly on about 50 k thb a month and can do that comfortably. Have enough to live that way with a decent safety margin for emergencies , medical issues until I'm 60 when my retirement fund kicks in and away I go again.

It does bother me that anything I spend is gone and never coming back and I wish there was some way I could put my money to better use. I can see opportunities here for sure and I have a lot of business experience but don't have enough confidence in my missus business acumen to invest any serious money in stock, set up etc. Besides the business would be in her name and to me that's just presenting an opportunity for disaster. I dont have the luxury of making a mistake, particularly a large one. What have others done? On the other side of the coin the ex rate for AUS $ is RS and would have to be some clear benefits for me to bring money out of a "safe" country to an unknown particularly at such a poor ex. Day trading sounds interesting albeit I don't have a clue about the stock market...mind you I don't think my retirement investors do either as my retirement fund is going south. What do I do? Play it safe or try something? Any advice appreciated. PM me if you like.

Ps: Please no suggestions of investing in noodle shops, rice farms or brothers tractors / pick ups :-)

[steven100]

beer bar !! then you can drink piss all day long ...

[Kenny202]

Hahaha and "interview" prospective employees all day long :-) If only! Never heard of a success in a bar yet.

[MaeJoMTB]

Well actually,

If she must have a business, invest in something that doesn't have any large initial capital outlays.

Roadside and market stalls can be stared with little stock and very small outlays, usually just a small daily rental.

Beware though, most foreigner wives (mine included) sought that position because they don't like working.

[Kenny202]

Well actually,

If she must have a business, invest in something that doesn't have any large initial capital outlays.

Roadside and market stalls can be stared with little stock and very small outlays, usually just a small daily rental.

Beware though, most foreigner wives (mine included) sought that position because they don't like working.

hey Joe :-) Where u been? Yeah I hear you. I can see a potential small income from a low start up food stall at a busy night market. Had a few ideas along those lines. Trying to get her to think a bit deeper than just being presented with a nice little shop and opportunity to talk sht with Isaan ladies all day is hard. Start up equipment? Business plan? (vague idea even would be great) Not a lot but wouldn't be too hard to pull at least an extra 30k baht a month if managed correctly with the right product (Not soup or bbq squid!) I asked her some time ago to think about possible business ideas...something new and not easilly copied preferably. Not having much imagination...she came back with the idea of a noodle restaurant at the front of our estate the other day. Dusty horrible area on a busy road. Was 42 degrees here yesterday and I asked her if working out beside the dusty road in that heat was her idea of a good life. Blank open mouth stare. I'm sure some of these noodle ladies succeed but any I've known while they might make nice soup have no idea of profit, expenses etc. The sale price has to be 30-35 baht....but they have no idea of the cost of ingredients, expenses to make said soup. They kick off with enough ingredients for a day and no capital. Any sales are used as living money and stock isn't replaced. Quality of the soup goes down with less and less chicken and more and more chicken powder until a bike loan shark comes along and loans them 20k baht. The rest is a foregone conclusion and a slow drawn out death. Maybe kick on for 6-12 months working to only pay the daily visiting bikie an ever increasing debt. Said noodle lady just disappears one day and moves to another province. Edited March 11, 2016 by Kenny202

[MaeJoMTB]

Better to supply the people already with stalls,

Than sell all day from a stall yourself.

I bough mine a freezer (7k).

She imports frozen moo ping (pork barbecue on sticks) from a factory in BK, and distributes to the roadside sellers nearby, for them to cook and sell.

The factory send her the moo ping on credit, she pays after she sells (about 10k a shipment).

Can't see her making much (if any), but she already paid me 1k back, and it's handy to have a freezer.

(and it fits in around her university attendance)

Edited March 11, 2016 by MaeJoMTB

[Kenny202]

Better to supply the people already with stalls,

Than sell all day from a stall yourself.

I bough mine a freezer (7k).

She imports frozen moo ping (pork barbecue on sticks) from a factory in BK, and distributes to the roadside sellers nearby, for them to cook and sell.

The factory send her the moo ping on credit, she pays after she sells (about 10k a shipment).

Can't see her making much (if any), but she already paid me 1k back, and it's handy to have a freezer.

(and it fits in around her university attendance)

All good food for thought. My concern about selling to Isaan roadside stalls is that they would also want credit. I think you've hit the nail on the head though and therein lies a farangs advantage here. We have what most don't. Working capital. What sort of profit does she make on her 10k outlay? I'm guessing she'd have to compete or undercut other suppliers? Can see that working good in a village actually where it's costly to go into town everyday etc. We're in the middle of Khon Kaen city Edited March 11, 2016 by Kenny202

[gojdthai2016]

how about pork ribs,,cheap and easy to do ,,buy the ribs for about 150 baht a kilo,,then just cook them anisssann way

[Kenny202]

how about pork ribs,,cheap and easy to do ,,buy the ribs for about 150 baht a kilo,,then just cook them anisssann way

Funny thing about Thais. They seem to like their ribs cooked rubbery, same as their squid. I did my missus some slow roast American style ribs one night. Melt in Ur mouth. She didn't like them

[AlexRRR]

You guys can't be serious, dead end business ideas, tell them too get a job, they would of had one before you showed up time they went out and got another one, why the hell you offering a free ride for?

Did your ex Aussie wife sit at some road side selling pork ribs? If she was like my ex she had a decent job earned a decent income and helped run the house.

[gojdthai2016]

hey alex marrying an aussie bush pig,,thankfully is one mistake that i didnt make,,mind you marrying a thai girl who only thinks about somtam everyday doesnt smell thatgood either

[fiddlehead]

Just an idea for you: How about a water testing service.
Small storefront where people bring in their water and you provide a test 2-3 days later.

I would be a customer (once anyway)

[Dave12345678910]

Kenny,

You can withdraw your super in full once 55 in Aus if your leaving for good. Then nothing else stopping you from applying for a pension on correct age. It depends on for many years you have work in Aus. Would stay away from any business in Thailand.

Stock market can be good or bad. It is an open gamble. Currency fluctuations also play a big part!

[Kenny202]

You guys can't be serious, dead end business ideas, tell them too get a job, they would of had one before you showed up time they went out and got another one, why the hell you offering a free ride for?

Did your ex Aussie wife sit at some road side selling pork ribs? If she was like my ex she had a decent job earned a decent income and helped run the house.

Well a lot of what you say is true and if I had my time over again I may have chosen more wisely....but back to the point. It simple mathematics. If she got a job she'd be lucky to make 15k a month. A well run business should net a lot more...in theory

[Kenny202]

Kenny,

You can withdraw your super in full once 55 in Aus if your leaving for good. Then nothing else stopping you from applying for a pension on correct age. It depends on for many years you have work in Aus. Would stay away from any business in Thailand.

Stock market can be good or bad. It is an open gamble. Currency fluctuations also play a big part!

I I knew I could withdraw at 55 but I thought you had to pay some tax if you did? I'm under the impression after 60 you withdraw your funds tax free. I hope I'm right!

[AlexRRR]

hey alex marrying an aussie bush pig,,thankfully is one mistake that i didnt make,,mind you marrying a thai girl who only thinks about somtam everyday doesnt smell thatgood either

Ive yet to meet a Thai woman that can hold down a full time job, raise a family, cook every night, lunches for the kids every day for school, and i won't mention breakfasts, clean a house thats 1/3 the size of a modern Aussie home and keep there man happy as well as catch up with the girl friends every now and then.

I speak with some knowledge on this subject.

You can bag the aussie girl as much as you like but there a lot more hard working than any Thai girl I've ever known...

[Kenny202]

Kenny,

You can withdraw your super in full once 55 in Aus if your leaving for good. Then nothing else stopping you from applying for a pension on correct age. It depends on for many years you have work in Aus. Would stay away from any business in Thailand.

Stock market can be good or bad. It is an open gamble. Currency fluctuations also play a big part!

I've looked into the pension before and I don't think Ur eligible to receive it overseas unless you been back living in oz for at least 2 years? Correct me if I'm wrong. I think the required work years to qualify for the pension is 35 years so I'm ok. My birth year is 1963 so I believe even if I was eligible it wouldn't be until I was 67 Edited March 11, 2016 by Kenny202

[Kenny202]

Just an idea for you: How about a water testing service.

Small storefront where people bring in their water and you provide a test 2-3 days later.

I would be a customer (once anyway)

What sort of water would u test? Peoples tap water, bottled water, bore water? Interested but not sure who would need that service?

[docshock13]

Kenny,

Only my opinion, but I would keep what you don't need to live offshore (i.e. back in Oz or elsewhere). Going on the safe side, if you do decide to throw some money into a biz in LOS, only invest what you can afford to lose and treat that money as if it is gone. If it goes, you were well prepared to take the loss. If you can make some money or break even and enjoy your life here, that's a bonus!

Again, only my opinion. Do check around. There are some decent options around for low-risk, offshore investments outside of Oz. Not fantastic, get-rich-quick returns but better than the bank rates in Oz. Now that your retired, you have all the time in the world to research where you would like invest, how much and when. It is your money. Never feel pressured into making an investment. 0.25% of something is better than 100% of #$&* all!

Congrats on retirement! Enjoy!

[Bigstef]

hey alex marrying an aussie bush pig,,thankfully is one mistake that i didnt make,,mind you marrying a thai girl who only thinks about somtam everyday doesnt smell thatgood either

Ive yet to meet a Thai woman that can hold down a full time job, raise a family, cook every night, lunches for the kids every day for school, and i won't mention breakfasts, clean a house thats 1/3 the size of a modern Aussie home and keep there man happy as well as catch up with the girl friends every now and then.

I speak with some knowledge on this subject.

You can bag the aussie girl as much as you like but there a lot more hard working than any Thai girl I've ever known...

Get out of the bar zone you'll see some hardworking women....

[Kenny202]

Is some truth to that on both sides. There are some gorgeous gems of hardworking good moralled ladies in the villages and you'd have the pick of the litter...but unless you lived in the area sometime and didn't speak Thai the language barrier is difficult if not impossible. The village girls who have been exposed to westerners and equate farang = money = easy come easy go are ruined for life IMHO

[Singharh]

Lend out the money at 2 % interest pm...if done properly it can be a nice money spinner

[canathai8]

"Day trading sounds interesting albeit I don't have a clue about the stock market...mind you I don't think my retirement investors do either as my retirement fund is going south. What do I do? Play it safe or try something? Any advice appreciated. PM me if you like."

I lost 90% of my life savings day trading - 1.2 million dollars Canadian

Now I'm in the poor house

Hope that helps with your due diligence

[champken]

Buy a ground floor condo unit in a popular and well located condo (in your name) that can then be used to set up a little business.

Its in your name, little overheads, easily rented out if your business plan is not a success and also should be easier to sell than a normal condo if need be. The big plus would be if you could find one that is also big enough to live in as well

[Kenny202]

Lend out the money at 2 % interest pm...if done properly it can be a nice money spinner

I did look into that back in the village and was spose to be a dead cert but on closer inspection no one could provide anything like a guarantee. It sounds good if everything goes ok or you had a tough savvy woman to take care of stuff but..... Knowing my luck...

[Kenny202]

"Day trading sounds interesting albeit I don't have a clue about the stock market...mind you I don't think my retirement investors do either as my retirement fund is going south. What do I do? Play it safe or try something? Any advice appreciated. PM me if you like."

I lost 90% of my life savings day trading - 1.2 million dollars Canadian

Now I'm in the poor house

Hope that helps with your due diligence

might take a rain check :-(

[Singharh]

Yes,my Thai wife's mother does it and she has about 1 million baht on loan. Has guarantees from most clients i.e. deed to land and any assets of value which she can sell if they don't pay.

[MaeJoMTB]

hey alex marrying an aussie bush pig,,thankfully is one mistake that i didnt make,,mind you marrying a thai girl who only thinks about somtam everyday doesnt smell thatgood either

Ive yet to meet a Thai woman that can hold down a full time job, raise a family, cook every night, lunches for the kids every day for school, and i won't mention breakfasts, clean a house thats 1/3 the size of a modern Aussie home and keep there man happy as well as catch up with the girl friends every now and then.

I speak with some knowledge on this subject.

You can bag the aussie girl as much as you like but there a lot more hard working than any Thai girl I've ever known...

Wayyyyy off topic,

I don't actually need a co-worker, maid ......... or a mother substitute.

What I want is sex in an attractive, young and small package.

Not to mention, a female sexual partner from your home country has easy legal access to all your assets.

[AlexRRR]

hey alex marrying an aussie bush pig,,thankfully is one mistake that i didnt make,,mind you marrying a thai girl who only thinks about somtam everyday doesnt smell thatgood either

Ive yet to meet a Thai woman that can hold down a full time job, raise a family, cook every night, lunches for the kids every day for school, and i won't mention breakfasts, clean a house thats 1/3 the size of a modern Aussie home and keep there man happy as well as catch up with the girl friends every now and then.

I speak with some knowledge on this subject.

You can bag the aussie girl as much as you like but there a lot more hard working than any Thai girl I've ever known...

Get out of the bar zone you'll see some hardworking women....

Unlike a lot of guys in here I do t hang out in the bar zones, the 4 Thai girl friends I've had all have degrees and careers 2 MD, current a manger, they all know how to work except at home.

[catman20]

beer bar !! then you can drink piss all day long ...

and then you wont worry when it goes tits up. which it will do