little mary sunshine Posted May 18, 2016 Share Posted May 18, 2016 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. Link to comment Share on other sites More sharing options...
GOLDBUGGY Posted May 18, 2016 Share Posted May 18, 2016 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. Link to comment Share on other sites More sharing options...
Bangkokazy Posted May 18, 2016 Share Posted May 18, 2016 If living on credit then you are cash strapped Link to comment Share on other sites More sharing options...
GOLDBUGGY Posted May 18, 2016 Share Posted May 18, 2016 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? Link to comment Share on other sites More sharing options...
Bangkokazy Posted May 18, 2016 Share Posted May 18, 2016 (edited) 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 Link to comment Share on other sites More sharing options...
Asheron Posted May 18, 2016 Share Posted May 18, 2016 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. Link to comment Share on other sites More sharing options...
Bangkokazy Posted May 18, 2016 Share Posted May 18, 2016 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, Link to comment Share on other sites More sharing options...
Mark123456 Posted May 18, 2016 Share Posted May 18, 2016 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. Link to comment Share on other sites More sharing options...
ozyjon Posted May 18, 2016 Share Posted May 18, 2016 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. Link to comment Share on other sites More sharing options...
bazza40 Posted May 18, 2016 Share Posted May 18, 2016 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. Link to comment Share on other sites More sharing options...
Ace of Pop Posted May 19, 2016 Share Posted May 19, 2016 Ferangs are strange when they get here.They talk about poverty here ,but never about the poor in their homeland.Why is that.??. Link to comment Share on other sites More sharing options...
bazza40 Posted May 19, 2016 Share Posted May 19, 2016 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. Link to comment Share on other sites More sharing options...
Somebodee Posted May 19, 2016 Share Posted May 19, 2016 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. Link to comment Share on other sites More sharing options...
houlicha Posted May 19, 2016 Share Posted May 19, 2016 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. Link to comment Share on other sites More sharing options...
bazza40 Posted May 19, 2016 Share Posted May 19, 2016 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. Link to comment Share on other sites More sharing options...
marko kok prong Posted May 20, 2016 Share Posted May 20, 2016 Don't know ,as i am rich. Link to comment Share on other sites More sharing options...
Bangkokazy Posted May 20, 2016 Share Posted May 20, 2016 you're not rich until you've lived without thinking about money in a month, live and other Link to comment Share on other sites More sharing options...
Seizetheday Posted May 25, 2016 Share Posted May 25, 2016 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. Link to comment Share on other sites More sharing options...
nausea Posted May 25, 2016 Share Posted May 25, 2016 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. Link to comment Share on other sites More sharing options...
White Christmas13 Posted May 25, 2016 Share Posted May 25, 2016 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 Link to comment Share on other sites More sharing options...
Bangkokazy Posted May 25, 2016 Share Posted May 25, 2016 Definition and synonyms not having as much money as you need Link to comment Share on other sites More sharing options...
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