What would you do....

[Beachbumm]

Say your in your mid 40's , uneducated, yet still self employed, but suffering job/life burnout so you Step away from your company, unload everything you own including the house. Your no longer tax liable in the U.S. (I hope it's that easy). You owe nobody nothing , no debt whatsoever! You've got nearly $300,000 to live and play with. And that doesn't include retirement fund (can't touch it till 65). And your single.

 

could you rationalize throwing in the American towel and making a go at it in Thailand? If so what would you try to do to generate atleast a small cash flow so you don't have to rely solely on your savings? Or would you just say fuke it and party your azz off for a few years.

 

im coming in on regular tvisa, but if I like it there I will go for longer term edvisa. Been to BKK before and had a blast, been day dreaming about longer term stay for a couple years now. Not having a serious education is my only hang up tho, because I know here in the U.S. I can always go back to work, but there I don't see too many options....other than buying up a bunch of rental condos. 

 

Im not asking anyone to make my mind up for me or anything (that's not possible), just curious what others might do in a similar situation. Life in America is really getting to be a drag and I've come to the conclusion that I'm ready for something different even if I fall on my face.

 

so what ya think.. would you go for it no matter what..or just stay home and be a good lil robot?

 

bbumm

Edited August 23, 2017 by Beachbumm

[FolkGuitar]

Falling on your face isn't a problem. Having to STAY face down is. $300,000 isn't nearly enough to last you 20 years until your retirement money kicks in. I can sympathize with your desire to get out of the US. I did, with a lot less money, but then, I had a job waiting for me in Asia. That might be your first step... There are many legitimate ways to get a Bachelors degree, and doing so would at least give you more employment opportunities in Thailand, and only delay your plans by couple of years. THEN secure employment and come over, using your $300,000 to further feather your nest. You'll find education as an adult to be VERY different than when you were a teenager. It suddenly becomes fun!

 

Or, option 2...  You say you are self-employed. Is it the sort of work that can be done in Thailand? If so, start your own company here. All that takes is money, and you have enough of that. I did that too when I left Japan and moved to Thailand, running a successful business here for 10 years before deciding to retire full time.

 

Option 3... Have one hell of a party.

 

Edited August 23, 2017 by FolkGuitar

[tonray]

• Invest the money in the US market with a balanced portfolio of stocks and fixed income. You can generate about 3.75 % with a reasonable degree of stability and risk.

After tax (which you will need to pay on dividends and interest) you will net about 27,000 baht per month. 

 

 

BUT BUT....you are only in your 40s so that will not hold you until retirement. I suggest getting a new job for another 5 years, stuff money away until it hurts and then come.

 

In 5 years, that 300K will be worth 360,000 at 3.75% (likely more but being conservative here) and whatever else you save, let''s say you can bring that to 425K in 5 years.

 

Now 425K @ 3.75 % generates about 38,500 baht per month after tax. If you live frugally until retirement, you are good to go.

[CNXBKKMAN]

If you have been working hard all your life , created a business and are going to liquidate it and start afresh in Thailand. If you are burnt out and need a break. I won't l would say yes come and check out Thailand but before you do this i would  say travel a bit. Buy a cheap round the world ticket and go where ever it routes? Japan one week wih a rail pass, australia land in Brisbane depart from Melbourne? NZ, check out Lombok Indonesia, stay in beach hut for a month, China, overland from India to Nepal, spend a few days in Dubai, take the train through Italy and Greece, go hiking in Scotland. All this or similar should cost less than $20k. 

        After this trip has opened your eyes to the world (and opportunities) then come and do the big trip to Thailand and see how you like it. 

[orchis]

take a rest and start afresh. apart from the money, these are your productive years.

[heybruce]

Without an education your legal work options in Thailand are limited.  I have no experience starting a business in Thailand, all I know is that it generally involves a Thai partner and you have to know both your partner and what you are getting into. I don't know what is involved for a foreigner to legally own rental properties, but even if you can do so legally you will find it difficult to acquire $300,000 worth of properties with a ROI that will allow for a comfortable lifestyle.  No doubt people will now insist they easily get double-digit ROI after all expenses are included on every one of their rental properties, I suggest a healthy degree of skepticism.

 

You also need to remember that just because you like Thailand now doesn't mean you will like Thailand 10, 15, or 20 years from now.  The culture is constantly evolving, not to everyone's liking, and the political and economic future of this country is unknowable.  If you invest most of your savings in Thailand then later decide it's time to go, you could have a problem.

 

I have no suggestions, just wanted to pass on a few warnings.

[MaksimMislavsky]

4 hours ago, Beachbumm said:

what would you try to do to generate atleast a small cash flow

Freelancing online, whatever you can do. Translations, design, coding, writing, drawing pictures... Maybe invest some funds in taking some training courses, online again, should it be necessary... If properly arranged, can keep you afloat for years. But you won't be able to stay in Thailand all the time (visa issues), so you will see and experience other places around. Which is going to be a great life!

[TerryLH]

"Your no longer tax liable in the U.S. (I hope it's that easy)."

 

It's not.

[LivinLOS]

Can you do it on 300k US for 20 - 25 years ?? Not a hope.. 

 

Can you learn a new skill, form a new income stream, generate wealth from another location.. Sure, plenty do. 

 

I would advise to exert extreme caution on any investments (US equity also) in the near term and magnify that to beyond extreme for any investment suggested thats informal, asia based, local, not on indexes etc. While some expats manage to make a go of businesses, many more are using pensions to keep the business afloat rather than business to keep the pension afloat. 

 

Theres a million things people do to make money online, some skilled and valuable, which take time and smarts to learn, some low skilled which will always face low barrier of entry competition. Read, look, analyse, see if you think theres a niche you could make your own (dont pay for any courses, any cons, or believe any of the get rich quick "make a million on facebook" "earn 10k a month from the beach drop shipping", those dreams are sold that way for a reason. 

[dotpoom]

I was 53 when I packed it all in and retired in Thailand (was self employed). Sold my house back home, paid off my debts, had 5MB coming here. Bought 3 condos beside each other, lived in one and rented out the other two.

   Got tired of the"rat race" way of life back home.

What really made me move in this direction was remembering what a customer of mine once said to me.....She asked me did I know what I will never hear from a dying person on their death bed if they are asked "looking backback over your life, have you any regrets".... You will never hear them say , she said..." I wish I had spent more time in the office".

Edited August 23, 2017 by dotpoom

[dotpoom]

I was 53 when I packed it all in and retired in Thailand (was self employed). Sold my house back home, paid off my debts, had 5MB coming here. Bought 3 condos beside each other, lived in one and rented out the other two.

   Got tired of the"rat race" way of life back home.

What really made me move in this direction was rembering what a customer had said to me one time. She asked me if I knew what I will never hear from a dying person if asked on their death bed...."Looking back over your life, have you any regrets?"....

.You will never hear them say, she said....."I wish I had spent more time inthe office".

[robertson468]

There was a website on ThaiVisa that was advertising investing in Construction of Hotels and the like and offering 7%, 10% and 12% returns.  When I contacted one of the Hotel Groups, they said they have never heard of the Investment Company.   Be careful on investment and make sure you do your due prudence search.  The oft written quote is - if it sounds too good to be true, then it is, too good to be true.  Buyer beware.

[smotherb]

5 hours ago, FolkGuitar said:

Falling on your face isn't a problem. Having to STAY face down is. $300,000 isn't nearly enough to last you 20 years until your retirement money kicks in. I can sympathize with your desire to get out of the US. I did, with a lot less money, but then, I had a job waiting for me in Asia. That might be your first step... There are many legitimate ways to get a Bachelors degree, and doing so would at least give you more employment opportunities in Thailand, and only delay your plans by couple of years. THEN secure employment and come over, using your $300,000 to further feather your nest. You'll find education as an adult to be VERY different than when you were a teenager. It suddenly becomes fun!

 

Or, option 2...  You say you are self-employed. Is it the sort of work that can be done in Thailand? If so, start your own company here. All that takes is money, and you have enough of that. I did that too when I left Japan and moved to Thailand, running a successful business here for 10 years before deciding to retire full time.

 

Option 3... Have one hell of a party.

 

Yes, I can see option 3--come over for a $100k while. That should satisfy some burn-out and return to continue working until retirement. However, make sure you do not burn bridges and leave a re-entry. Blowing $100k should not take long, if you party hearty.

[LostinSEA]

At 2% Inflation (would suggest this is too low over 20 years) and at roughly 31THB to the US$, $300,000 will give you 31,000 THB per month, after 20 years your budget is up to around 46,000 THB, maybe this is enough for you, there are guys living in Thailand on less.

 

If you're bored with your job/life in the US, I'd recommend using the opportunity whilst you're working to do what ever you have to do to improve it - as the saying goes, it's easier to get a new job when you already have one.

 

[NotEinstein]

I quit my job at 43, 15 years-ago now, with a similar sum in the bank.

 

I second going to see some of the world on a round-the-world ticket first. Spend 6-12 months backpacking and be amazed by the nature, cultures and customs of the planet.

 

If you still fancy Thailand after, many of us are making it work.

[metisdead]

Posts and replies in violation of the following have been removed:

 

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Another post containing inappropriate language was removed as well. 

[CanuckThai]

There is another route also.  If you are on top of your game in your field (whatever it is), consulting internationally or back in North America, while living here is very do-able.  Getting paid handsomely to go back "home"  on contract, and a visit for a few weeks is $$$weet.  A vacation/break from paradise/LOS is imperative in maintaining sanity/reality. 

Edited August 23, 2017 by CanuckThai
penmanship

[heybruce]

Interesting story about how investing in real estate can go wrong, and how the judicial system won't be your friend.   http://www.nationmultimedia.com/detail/national/30324659  

 

I suggest keeping your savings out of the country, and use an ATM for the daily expenses, at least until you know your way around.

[ThaiWai]

I was 45 when I retired and sold or gave everything I owned away and came here.  Comfortable pension and a stocked retirement account.  It was the plan all along the only variable was what country to go too.  Mission accomplished.

[toddsaed]

consider Mexico, or other places too, Germany,  Norway, Costa Rica, safer , more honest,  dont party,

beware of giving money out to a woman, get a TEFL certificate at Text and  Talk in Bangkok, six week course, about

six hours a day, fun, and only one thousand dollars or so, room and food maybe five hundred,  this could get a teaching job without college degree, gets a visa, and  good karma

[tonray]

19 minutes ago, toddsaed said:

consider Mexico, or other places too, Germany,  Norway, Costa Rica, safer , more honest,  dont party,

beware of giving money out to a woman, get a TEFL certificate at Text and  Talk in Bangkok, six week course, about

six hours a day, fun, and only one thousand dollars or so, room and food maybe five hundred,  this could get a teaching job without college degree, gets a visa, and  good karma

Without a degree he will not get a proper Non-B Visa with work permit. TEFL cert not good enough for work permit.

[nasanews]

15 hours ago, Beachbumm said:

Or would you just say fuke it and party your azz off for a few years

I threw my towel when I was in my mid forties, living on pension no regrets.

You have more chances and fun with extra 10 million baht!

Just to extend to inquiry to the locals they would diffidently say:

Up to you,

Join the ride if you want my sincere advice.

Last but not least life sucks in the US after 9/11

Edited August 23, 2017 by nasanews

[Goldbear]

14 hours ago, orchis said:

take a rest and start afresh. apart from the money, these are your productive years.

 

Yes, that's a good suggestion. Maybe take a break and then do something else.

 

Definitely don't blow your 300k. 

[Phatbeets]

Don't do it you'll blow your hard earned money in no time and will end up jumping from a balcony.

Nobody will give a flying f**** about you when you'll be broke in LOS.

[catman20]

go for it ! you cant buy time. but be careful with your finances, ive seen shxt loads of farangs go back to their homeland with sweet FA only to be kept by the state at 55/60 thats no life either.

 

GOOD LUCK

Edited August 24, 2017 by catman20

[davidst01]

On 8/23/2017 at 10:28 AM, tonray said:

• Invest the money in the US market with a balanced portfolio of stocks and fixed income. You can generate about 3.75 % with a reasonable degree of stability and risk.

After tax (which you will need to pay on dividends and interest) you will net about 27,000 baht per month. 

 

 

BUT BUT....you are only in your 40s so that will not hold you until retirement. I suggest getting a new job for another 5 years, stuff money away until it hurts and then come.

 

In 5 years, that 300K will be worth 360,000 at 3.75% (likely more but being conservative here) and whatever else you save, let''s say you can bring that to 425K in 5 years.

 

Now 425K @ 3.75 % generates about 38,500 baht per month after tax. If you live frugally until retirement, you are good to go.

No offense but 3.75% is a pathetic return that I would not get out of bed for. Inflation will eat away this return. 

 

Ive been trading in and out of technology stocks on Nasdaq and have a 2 yr return of 80%. We are living in the golden age of advertising and investing in high growth companies like Facebook or google is the go. 

 

Im now buying Bitcoin and holding onto it long term. I envisage that I will double my money in the coming years. There's companies like IBM and investment banks like JP morgan using the Blockchain technologies. I might try and invest in these technologies as well. It really is changing the way that companies do business and its all thanks to Bitcoin. 

 

Both of these options require knowledge and a bit of expertise and balls. There's a saying 'no balls no babies'. Apply this to your investing and Im sure you will understand the context. 

 

Put $200k on Facebook (nasdaq exchange). You will double your money in 3 to 5 yrs I think. They havent even started monetizing whats app or  messenger yet. They are getting into VR and AR (games), not to mention tv programs now. 1/3 of the worlds population uses Fbook. Instagram has a long way to go. I bet that 1/3 of the world will probably be using instagram one day in the future. FB is a cheap stock at the moment. If they do a stock split next year you will get huge gains. Thats my 2 cents worth.... good luck son

[tonray]

51 minutes ago, davidst01 said:

No offense but 3.75% is a pathetic return that I would not get out of bed for. Inflation will eat away this return. 

 

Ive been trading in and out of technology stocks on Nasdaq and have a 2 yr return of 80%. We are living in the golden age of advertising and investing in high growth companies like Facebook or google is the go. 

 

Im now buying Bitcoin and holding onto it long term. I envisage that I will double my money in the coming years. There's companies like IBM and investment banks like JP morgan using the Blockchain technologies. I might try and invest in these technologies as well. It really is changing the way that companies do business and its all thanks to Bitcoin. 

 

Both of these options require knowledge and a bit of expertise and balls. There's a saying 'no balls no babies'. Apply this to your investing and Im sure you will understand the context. 

 

Put $200k on Facebook (nasdaq exchange). You will double your money in 3 to 5 yrs I think. They havent even started monetizing whats app or  messenger yet. They are getting into VR and AR (games), not to mention tv programs now. 1/3 of the worlds population uses Fbook. Instagram has a long way to go. I bet that 1/3 of the world will probably be using instagram one day in the future. FB is a cheap stock at the moment. If they do a stock split next year you will get huge gains. Thats my 2 cents worth.... good luck son

Thank goodness we have trading superstars like you to show the way ! 

 

80% every 2 years, it's amazing you have not replaced Warren Buffet yet.

 

Rock on !

[Beachbumm]

A lot of sound advice here, this might sound crazy to a few of you but the stock market just isn't the way I wanna go. I'm actually exploring the idea of product distribution right now, and also e-commerce. That opens up some travel opportunities too, like the Hong Kong product expos and other similar events in various countries.

A local here is whispering in my ear about website investing, which I know nothing about at the moment, but plan to research it more. Real estate here or there or anywhere...not likely. My father played that game years ago, I saw all the poop stained carpets, and basements full of trash that I care to see.

As for handing money over to women or con men, well..I'm not in the habit of doing that now so I don't think I'll start. I understand how it is over there, I've been to BKK before, it's like a giant version of vegas I think.


Sent from my iPad using Thailand Forum - Thaivisa mobile app

[davidst01]

1 hour ago, tonray said:

Thank goodness we have trading superstars like you to show the way ! 

 

80% every 2 years, it's amazing you have not replaced Warren Buffet yet.

 

Rock on !

to be envious is to be the lesser man- assuming that is your gender?

[davidst01]

58 minutes ago, Beachbumm said:

A lot of sound advice here, this might sound crazy to a few of you but the stock market just isn't the way I wanna go. I'm actually exploring the idea of product distribution right now, and also e-commerce. That opens up some travel opportunities too, like the Hong Kong product expos and other similar events in various countries.

A local here is whispering in my ear about website investing, which I know nothing about at the moment, but plan to research it more. Real estate here or there or anywhere...not likely. My father played that game years ago, I saw all the poop stained carpets, and basements full of trash that I care to see.

As for handing money over to women or con men, well..I'm not in the habit of doing that now so I don't think I'll start. I understand how it is over there, I've been to BKK before, it's like a giant version of vegas I think.


Sent from my iPad using Thailand Forum - Thaivisa mobile app

You sound clueless my friend. 

 

A lot of people in your category (I.Q) put money into Bitcoin and made bucket loads of money. Sticking it into a hardware wallet like trezor and sitting on it for a few yrs will probably double your money or more. Put 100k on bitcoin and it could turn into 300k in 5 yrs. Who knows, maybe more, maybe less. The trezor wallet is one of the safest places to store your coin.

 

https://trezor.io/

 

For you to get involved with websites and/ or ecommerce.... when you can probably only turn on a computer..... get real. I have to be harsh to teach you. Its free advice.