Poor vs cash strapped

[little mary sunshine]

Not only Thais are bad with finance....Big scam in the

USA with reverse mortgages for the elderly. Such a

Rip off, in less than 5 years the Co. Basically owns

The home, appraisal fee, qualifying fee, mortgage

Initiation fee ....so many seniors fall for this scam.

[GOLDBUGGY]

You don't have to go to Thailand to find this. I knew a lot of people back home who husband and wife both worked at good jobs but had very high mortgage payments to make and had money locked into a Retirement Plan, they could not touch. So definitely not poor, but certainly cash strapped. I guess House Poor for a lack of a better name.

With Farm Land Prices on the rise for the past several years in Thailand, and yet not getting a good return on this price from their crops, I guess you could say they would be cash strapped, but not poor. If they sold there land they would get a fare price for it now, but since it is there lively-hood, they have nothing else to fall back on to make a living.

In a way this reminds me of Singapore. I remember riding with a Taxi Drivers who did this to make ends meet, yet his property was worth over one million dollars, because of the huge property price increases in Singapore. But if he sold his property he would either have to pay high rent or buy another for equal price. He didn't want to move as he lived there all of his life and all his family was there. So in one way he was a Millionaire, but yet in another he was as rich as a normal Taxi Driver. So cash strapped but not poor either.

[Bangkokazy]

If living on credit then you are cash strapped

[GOLDBUGGY]

GF's family has rice growing land but doesn't generate enough income. A rainbow in every storm as I have a beautiful GF half my age primarily because I send money up country every month to support her two kids. Plus we get a 25 kg bag or two of Jasmine rice a year - the best I have ever eaten. Spare me the comments from you handsome guys that never have and never will give your GF or wife money. I was married to a Thai lawyer for 23 years and yes I helped her younger sisters get through college and find jobs. Absolutely no regrets except that she died way too young.

Bravo! One Generous Guy here who does't think his pockets are picked each month and he has got a lot back from his investment.

It is so odd for me to think that if someone like you did this with his new wife and her family in the West, you would be considered a Good Hearted, Generous, and Caring Person. But when you do the same thing in Thailand you are considered a Sucker and Fool. Go Figure?

[Bangkokazy]

Savings should be present = 1/10 * age * annual income

then you are not cash strapped Then you have a nice life

Edited May 18, 2016 by Bangkokazy

[Asheron]

In the UK people work 40 hours a week every week, some with 2 jobs, couples both, just so they can afford their little 2 up 2 down terrace, constant worry about bills, eat out once a month, holiday once a year, basically on a treadmill for 45 years. Here people come and go, work when they want, eat out most days and live on what they have......who really is poor?

The thais.

[Bangkokazy]

Savings should be present: For example, if a single person aged 30 years working with a monthly salary of 15,000 baht annual income of 180,000 bath, so it should have savings equal to 1/10 * 30 * 180000 = 540000 baht,

[Mark123456]

About 95% of the country are certainly poor, with no assets they could cash out. This is a country where 5% of the population holds about 70% of the wealth.

Much like the USA then.

[ozyjon]

There is genuine poverty in all large Thai towns, I would assume.

That's why poor farmers daughters have upped the son sot

number to accommodate the rising debt,,,

i wonder how this conversation went 20 years ago, today and

20 years from now, by then sin sot will be in the billions.

I'm poor can not.

[bazza40]

Poverty here is not the same as poverty in Western countries. Even the poorest Thais are able to feed themselves from fruit and vegetables growing wild. And with a few exceptions in the mountains, none of them are going to die from the cold.

[Ace of Pop]

Ferangs are strange when they get here.They talk about poverty here ,but never about the poor in their homeland.Why is that.??.

[bazza40]

Ferangs are strange when they get here.They talk about poverty here ,but never about the poor in their homeland.Why is that.??.

Possibly because many of them would be part of the poverty statistic back in their homeland?

In Australia, if you have a full pension AND you own the roof over your head, you can just get by. If you are renting on a pension, you're screwed.

[Somebodee]

In the UK people work 40 hours a week every week, some with 2 jobs, couples both, just so they can afford their little 2 up 2 down terrace, constant worry about bills, eat out once a month, holiday once a year, basically on a treadmill for 45 years. Here people come and go, work when they want, eat out most days and live on what they have......who really is poor?

It's not only the UK. I have quite a few friends in Oz working over 40 hours a week paying off 400-600k mortgages.

They are aged already in their 30s and 40s, with no end in sight of when they will get off the hamster wheel.

One family have not been on holidays for over 7 years and a yearly family treat is a $6 coupon pizzas from Dominos Pizza.

[houlicha]

I have heard anecdotal stories of bar girls who have amassed small to medium sized fortunes in gold bahts. Every time they get a regular farang BF who hangs around long enough, they get him to take her down to Chinatown to buy her a nitnoi "gift". Of course this is all hearsay from people who used to patronize bar girls.

[bazza40]

I have heard anecdotal stories of bar girls who have amassed small to medium sized fortunes in gold bahts. Every time they get a regular farang BF who hangs around long enough, they get him to take her down to Chinatown to buy her a nitnoi "gift". Of course this is all hearsay from people who used to patronize bar girls.

Yes, they do exist.However,they're in a very small minority.

[marko kok prong]

Don't know ,as i am rich.

[Bangkokazy]

you're not rich until you've lived without thinking about money in a month, live and other

[Seizetheday]

GF's family has rice growing land but doesn't generate enough income. A rainbow in every storm as I have a beautiful GF half my age primarily because I send money up country every month to support her two kids. Plus we get a 25 kg bag or two of Jasmine rice a year - the best I have ever eaten. Spare me the comments from you handsome guys that never have and never will give your GF or wife money. I was married to a Thai lawyer for 23 years and yes I helped her younger sisters get through college and find jobs. Absolutely no regrets except that she died way too young.

Bravo! One Generous Guy here who does't think his pockets are picked each month and he has got a lot back from his investment.

It is so odd for me to think that if someone like you did this with his new wife and her family in the West, you would be considered a Good Hearted, Generous, and Caring Person. But when you do the same thing in Thailand you are considered a Sucker and Fool. Go Figure?

It's all relative, I used to earn a lot of money and thought nothing of giving the wife at the time 80,000 a month, paying her sons school fees etc etc. You are only a sucker if you give more than you can afford. I never thought my x wives family took me for a sucker or a fool, just a Good Hearted, Generous and Caring Person. That's what I figured anyway.

[nausea]

The concentration of land in a few hands thing has happened since time immemorial. It usually results in a landless peasantry forced into the cities. It also usually results in two camps - the aristocrats and the demagogues. I've yet to see a case where the aristocrats won. Just saying, this has nothing to do with Thailand, don't know why I posted it.

[White Christmas13]

Ferangs are strange when they get here.They talk about poverty here ,but never about the poor in their homeland.Why is that.??.

Possibly because many of them would be part of the poverty statistic back in their homeland?

In Australia, if you have a full pension AND you own the roof over your head, you can just get by. If you are renting on a pension, you're screwed.

I agree with you with some of your post but don't forget most Aussies have superannuation

and even living only on a pension and paying rent is hard ( I have to do it now since my wife

want's to separate) mentioned in another topic closed now but it is not impossible

but in Thailand I would not get anything at all

[Bangkokazy]

Definition and synonyms

not having as much money as you need