Salary Savings - What should I do with it?

[Davie dave]

Hi

 

I hope I'm not repeating a thousand previous posts.

 

I'm able to save 50k a month but have no clue what to do with it.  I'm putting 25k into my TMB Dream Savings Account getting 2.5% interest, and 5k into my government savings account which gives you returns on a lottery basis.  The rest is earning 0% in my TMB savings account.

 

I would appreciate your advice on the optimal way to use this money.

 

Best regards!

[roo860]

On your marks, get set!

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[Horatio Poke]

It must be difficult to know what to do with a large lump of cash every  month.  I look forward to reading others' suggestions as to where the OP might best stick it.

[Panda13]

[jerojero]

Troll

[Don Mega]

[ExpatJ]

I strongly suggest you follow Warren Buffets advice below: (im trying to do similar my self, over lastyear, but i ended up slicing and dicing and buying a few US stock ETFs - i would have made more if i had just bought the S +P index fund!- But i aim to keep them for 10 years plus and all my new cash will go into an  S+ P Index fund - i recommned  the VOO ETF) , so lets see)) 

 

Quote from buffet-

 

"My advice could not be more simple: Put 10% of the cash in short-term government bonds ETF and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard's.) I believe the trust's long-term results from this policy will be superior to those attained by most investors – whether pension funds, institutions or individuals – who employ high-fee managers."

 

CNBC article today-

Buffett put his money where his mouth is when it comes to indexing. He bet $1 million for charity that the Vanguard 500 Index Fund Admiral Shares would beat a basket of five hedge funds selected by Protégé Partners, a New York City asset management firm over 10 years starting in 2008.

The index fund has tripled the performance of the combined returns of five unnamed hedge funds as of the end of 2015. A likely Buffett victory will benefit Girls Inc. of Omaha while Protégé is playing for Ark, an international youth education charity based in the U.K.

[elgordo38]

Send to this address..............................Yes we issue tax receipts. Geeze what a great position to be in. Talk about positions go get horizontal. 

[elgordo38]

Your running this in the wrong place. Try Thai Love Throb internet site or something. Your bound to be flooded with answers. Women are experts at telling you how to dispose of excess cash. Don't make the same mistake I did saving for the future and then get screwed over by the government. Read the article I just read. The 12 things that might destroy the world. Take your pick. Live for today. The spawn of Fukishima is already circling the globe in the air and water. 

Edited March 10, 2017 by elgordo38

[Cinderella Man]

First thing I would do is to keep the money in currency/country which allows you to do with your money what you want.

 

Personally I wouldn't buy stock now, wait few years for the next crash - asking about parking cash options here: 

 

After that I plan 80% index fund as recommended above, 20% stock picking

 

[Thaijack2014]

I'd like to give you an answer to that, but rather not on this forum. Write to sjaaks on mail that is hot. 

 

Jack

[Jedsada3]

How about spending 5k-10k for children in the hospital in your city?

How about "sponsoring" a poor family in your village with ?k for the children every month?

 

I don't have a lot of money (no income) but every time I go to the market I buy some food for the beggars in the city.

 

Maybe you do it already but I hope this answer will give other readers some idea...

[khunPer]

On 3/9/2017 at 3:08 PM, Davie dave said:

I'm able to save 50k a month but have no clue what to do with it.  I'm putting 25k into my TMB Dream Savings Account getting 2.5% interest, and 5k into my government savings account which gives you returns on a lottery basis.  The rest is earning 0% in my TMB savings account

I would appreciate your advice on the optimal way to use this money.

Your 25k baht in TMB Dream-account is actually Okay – giving 2½% pa. is way above Thai-inflation rate, which was less than 1% during the last year (0.68%, if I remember right).

 

Playing lottery with savings might have bigger odds by taking a calculated risk in so-called "Fund Books" – mutual funds – which most Thai banks has. A number of the banks also has good English-language homepages with all information and historically performance. You pay a fee – a percentage of your investment in the fund, typically around 1% – for having the bank doing the investment-job for you.

I've been using Fund Books for savings for a number of years now in Thai banks, and they have done fine; not outstanding high gains, but reasonable compared to risk-factor and market interest rate – but you can choose a higher risk-factor and gain-or-loose more...

 

If you are a little more active investor, you can choose the SET (Stock Exchange of Thailand), where you can open an on-line account, probably through several Thai banks – I have for example one with SCB, fine English service with a named personal assistant that I can get in touch with via E-mail – it's easy to open as foreigner, as long as you accept not to have voting-rights on the stocks you buy (which anyway won't matter, if you're not a really financially heavy investor). You can choose your own investment profile – like suggested in post above to for example follow Warren Buffet's strategy. The buy/sell is in lots of 100-shares and the fees are minimal – on top SCB for example gives you points every time you trade, points that you can exchange to mileage-points with Thai Air – and your on-line trading platform gives you fine overview of the investments gain and (hopefully not) loss; and remember, many SET-companies pays a nice dividend in the range of 2½% to 4%.

Looked at "long term", stocks are the best investment/saving – historically average is, including various stock-crash like 1929 and more present ones, 6% to 7% a year – with 7% pa. you double your saving-value in 10 years; with 2½% pa. it takes almost 29 years to double up.

 

As I said, most banks has the service, so you can check with THB – I have links only for the banks I'm using:

SCB mutual funds

Bangkok Bank mutual funds

Kasikorn (K-Bank) Asset Management 

SCBS on-line (SET trading) 

[mrfaroukh]

I can send you my account number I know how to use the money

[swissie]

OP is new around the block. By the time he meets a "beautiful Thai Lady" (including Family), he will not need to dwell on the subject anymore.

Cheers.

[seancbk]

I would be buying bitcoin and possibly other cryptocurrencies.   

https://en.wikipedia.org/wiki/Dash_(cryptocurrency)

 

https://en.wikipedia.org/wiki/Monero_(cryptocurrency)

https://en.wikipedia.org/wiki/Cryptocurrency


No part of this message constitutes financial advice, you make your own decisions and assume your own risks.

[Thaijack2014]

18 hours ago, seancbk said:

I would be buying bitcoin and possibly other cryptocurrencies.   

https://en.wikipedia.org/wiki/Dash_(cryptocurrency)

 

https://en.wikipedia.org/wiki/Monero_(cryptocurrency)

https://en.wikipedia.org/wiki/Cryptocurrency


No part of this message constitutes financial advice, you make your own decisions and assume your own risks.

 This is what I'm doing and wanted to suggest. But not only that, I joined a bitcoin pool, with which I'm actually mining bitcoin. This is a long term investment which also brings profit if the bitcoin would loose some of its value. Since it's "birth" however, Bitcoin is increasing in value. Expected is that it doubles every year it's value. Not a meager 4 or 7% but you're going to get over 100% of your investment. This, because you are not resting your money, but actually let it work for you.

The best of it all: nobody will be able to tax you on that, because only YOU will know how many bitcoins you earned! If you want to know more, just send a mail

[thailiban2]

 This is what I'm doing and wanted to suggest. But not only that, I joined a bitcoin pool, with which I'm actually mining bitcoin. This is a long term investment which also brings profit if the bitcoin would loose some of its value. Since it's "birth" however, Bitcoin is increasing in value. Expected is that it doubles every year it's value. Not a meager 4 or 7% but you're going to get over 100% of your investment. This, because you are not resting your money, but actually let it work for you.
The best of it all: nobody will be able to tax you on that, because only YOU will know how many bitcoins you earned! If you want to know more, just send a mail

Hi I would be very interested to hear about your experiences with bitcoin. Are you trading using the Thai trading platform? Any issues? Not sure if it would be profitable mining these days....but would appreciate to hear your views.


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[Thaijack2014]

On 14-3-2017 at 1:52 AM, thailiban2 said:

 

Hi I would be very interested to hear about your experiences with bitcoin. Are you trading using the Thai trading platform? Any issues? Not sure if it would be profitable mining these days....but would appreciate to hear your views.


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Hi, I sent you a personal message, hope you get it. For all others: I'm mining at the Bitclub Network... the difference with other cloudmining communities is that they own their equipment, or better: you own shares in the equipment and they are doing very well in mining. I won't put a link here, but you can look at their webpage. If you want to join, you have to be introduced by somebody who is a member (like me) :)

In Thailand it is a great way to have a passive income.