zzzz Posted March 21, 2013 Report Share Posted March 21, 2013 I am with you all the way, years ago I got a complicated excel sheet from Soongmak (he was a retirement planner / pension specialist) with all possible variations, but bottom line I choose a min of 90K BTH per month at a rate of 28 THB / Euro (today 37 - 6 years ago 52) with a very low intrest of 1.5 % (although my investments brought > 15 % last year) and an inflation of 3.0 % just to make sure. Combine your income, your pension, your investments, etc all in the mix, shake well, serve cool, and my plan is all worked out, on top of part of our income is in THB as well. BB planning his retirement in 4-5 years A sizable pension indexed to inflation would help. Some large, stable, employers provide this, although numbers seem to be declining. II retired early and have been able to live off about half of my inflation-indexed pension for the last decade or so. Link to comment Share on other sites More sharing options...
Mekong Posted March 21, 2013 Report Share Posted March 21, 2013 Mekong, (Snip) "I am not being snobbish" That was not aimed at you, Mekong, or anyone in particular, but I do see some expats, living all the way up here in Surin, who seem to look down on those who do not have (and many do not even want what they have) the same doodads and bells and whistles they have. You wouldn't believe all the guys up here with brand new 4x4s tooling around as it they were big shot Donald Trumps (the 4x4 being in wife's name or even GF's name), building multi million baht homes on land in their wife's or GF's name which they could lose in a heartbeat if the wifey gets pissed off at them, catches them philandering, or they find a new Thai boy toy or 'richer' farang knobhead that suits their libido or social level better (or reveal that 'brother' is actually hubbie once they have what they want). I've seen guys here nearly go broke trying to impress the farangs and Thais that they are rich. Some are, but some are not really, they're just posers, and get themselves into trouble trying to show and act like they are. :-) Many come here with millions of baht, enough to live here decently for a lifetime, and blow it all in a matter of a couple/few years. Then they will blame the Thais, their wives, whoever they can except themselves, and live miserable lives here snarling at everyone and making the usual miserable dipshit farang ass of themselves. But most here do well enough, live within their means, and enjoy their lives, with real friends, and couldn't be happier, even though they are NOT rich and well heeled. (Snip 2) So how's living in the old sod? Still cold there? (Snip 2) Cent, I know you are not aiming your thoughts and opinions at me in person, I think I know you well enough now to understand your personality even though we have only met in person on one occasion a few Christmases ago at a fellow BM's abode in BKK. Much like KS, Flash yorself and I we are just like bad smells that linger in here seeing it from our side of the fence. As for building a house I in Thailand are the people who do such a thing without a USUFRUCT agreement in place? A usufruct is a real right (real means in civil law = attached to a thing) that originates from Roman and Civil law. The holder of a usufruct, known as “usufructuryâ€, has the right to use, possess and enjoy the property, as well as the right to receive profits from the fruits of the property. The usufructuary could be a person or an entity (ex: a company). In Thailand, a usufruct can be granted for a period of time (Max 30 years) or for the rest of the life of a living person. It always ends at the death of the usufructuary but some contracts concluded by the usufructuary can survive him. They are valid in Thailand just google it, it's how I bought my land I will develop in the future, but some farangs are just blind to their rights and they are the ones I look down on, I don't need an Isaan Palace in Nakon Nowhere or the latest must have 4X4 I just need security, a beat up old Tiger Cub pick up which we can use to pop into town or to the market will do me it does the job. Lets be honest if one was a Thai tea leave (Thief) you would pick on the Isaan Palace or the shiny car and not the humble abode of some retired Farang with a few free range chickens running around the yard who drives into town in a 20 year old pick up held together with duct tape wouldn't you. Sometimes it pays not to advertise. The High Speed Rail Link will be installed from CM to BKK within the next decade pluses the Chinese rail link going through Isaan to BKK should be operational around the same era so there will be no need to rent a decent vehicle to hit BKK if the need arises. As for the UK, well I picked the wrong year to come back coldest March for over 50 years and it is blowing a blizzard outside at the moment but I can't complain, I am one minutes walk from the local train station which is on the airport link into the city, 13 minutes ride in and only 10 minutes from the airport by road. Got tickets to see Rush one night, The Who, another and then Roger Waters doing "The Wall" in the city plus I am close to my family at the same time. Link to comment Share on other sites More sharing options...
Mekong Posted March 21, 2013 Report Share Posted March 21, 2013 Mekong, (Snip) "I am not being snobbish" That was not aimed at you, Mekong, or anyone in particular, but I do see some expats, living all the way up here in Surin, who seem to look down on those who do not have (and many do not even want what they have) the same doodads and bells and whistles they have. You wouldn't believe all the guys up here with brand new 4x4s tooling around as it they were big shot Donald Trumps (the 4x4 being in wife's name or even GF's name), building multi million baht homes on land in their wife's or GF's name which they could lose in a heartbeat if the wifey gets pissed off at them, catches them philandering, or they find a new Thai boy toy or 'richer' farang knobhead that suits their libido or social level better (or reveal that 'brother' is actually hubbie once they have what they want). I've seen guys here nearly go broke trying to impress the farangs and Thais that they are rich. Some are, but some are not really, they're just posers, and get themselves into trouble trying to show and act like they are. :-) Many come here with millions of baht, enough to live here decently for a lifetime, and blow it all in a matter of a couple/few years. Then they will blame the Thais, their wives, whoever they can except themselves, and live miserable lives here snarling at everyone and making the usual miserable dipshit farang ass of themselves. But most here do well enough, live within their means, and enjoy their lives, with real friends, and couldn't be happier, even though they are NOT rich and well heeled. (Snip 2) So how's living in the old sod? Still cold there? (Snip 2) Cent, I know you are not aiming your thoughts and opinions at me in person, I think I know you well enough now to understand your personality even though we have only met in person on one occasion a few Christmases ago at a fellow BM's abode in BKK. Much like KS, Flash yorself and I we are just like bad smells that linger in here seeing it from our side of the fence. As for building a house I in Thailand are the people who do such a thing without a USUFRUCT agreement in place? A usufruct is a real right (real means in civil law = attached to a thing) that originates from Roman and Civil law. The holder of a usufruct, known as “usufructuryâ€, has the right to use, possess and enjoy the property, as well as the right to receive profits from the fruits of the property. The usufructuary could be a person or an entity (ex: a company). In Thailand, a usufruct can be granted for a period of time (Max 30 years) or for the rest of the life of a living person. It always ends at the death of the usufructuary but some contracts concluded by the usufructuary can survive him. They are valid in Thailand just google it, it's how I bought my land I will develop in the future, but some farangs are just blind to their rights and they are the ones I look down on, I don't need an Isaan Palace in Nakon Nowhere or the latest must have 4X4 I just need security, a beat up old Tiger Cub pick up which we can use to pop into town or to the market will do me it does the job. Lets be honest if one was a Thai tea leave (Thief) you would pick on the Isaan Palace or the shiny car and not the humble abode of some retired Farang with a few free range chickens running around the yard who drives into town in a 20 year old pick up held together with duct tape wouldn't you. Sometimes it pays not to advertise. The High Speed Rail Link will be installed from CM to BKK within the next decade pluses the Chinese rail link going through Isaan to BKK should be operational around the same era so there will be no need to rent a decent vehicle to hit BKK if the need arises. As for the UK, well I picked the wrong year to come back coldest March for over 50 years and it is blowing a blizzard outside at the moment but I can't complain, I am one minutes walk from the local train station which is on the airport link into the city, 13 minutes ride in and only 10 minutes from the airport by road. Got tickets to see Rush one night, The Who, another and then Roger Waters doing "The Wall" in the city plus I am close to my family at the same time. Link to comment Share on other sites More sharing options...
jon46 Posted March 22, 2013 Report Share Posted March 22, 2013 p.s. It was 20 baht / US$ until 1982, when the government decided to let the baht free float. (It "floated" up to about 28 before settling down again.) It stayed at 25 until the 1997 financial fiasco, engineered by the Thai government under Chawalit. It was George Soros (the hedge fund guy and "the man who broke the bank of England because of his $1 billion in investment profits during the 1992 UK currency crisis), who identified the amonaly that Thais were borrowing in US dollars which had a lower interest rate rather than the Thai baht with the corresponding higher rates, resulting in the large discrepancy between the trade and capital accounts and were untenable. Accordingly, he believed that the Thai baht was overvalued and placed huge bets against it (by shorting the Thai baht massively). The Central Bank of Thailand used up all its reserves in defending the baht but to no avail. That was why the baht sank to an all time low...50 something to the US dollar. Meanwhile, during this time, the IMF insisted that Indonesia raise its petro prices inorder to get the requested funding/borrowings. The government warned that by doing so, it can bring down the government. IMF still insisted and riots ensued; the government of Indonesia fell. The American consumers benefited by the Asian crisis which resulted in lower prices from imports of consumer goods. Americans traveling abroad benefited much by the stronger dollar. Needless to say, I looked upon that time as the golden years...something that is not likely to be repeated. Btw, George Soros is still hated in Thailand as well as Malaysia. Link to comment Share on other sites More sharing options...
Plainsdrifter Posted March 22, 2013 Report Share Posted March 22, 2013 I wonder if anybody named Soros would be allowed to enter into LOS. Link to comment Share on other sites More sharing options...
cavanami Posted March 23, 2013 Report Share Posted March 23, 2013 ... I wonder if anybody named Soros would be allowed to enter into LOS. ....sure....to have their head chopped off! Link to comment Share on other sites More sharing options...
Lew_Ashby Posted March 25, 2013 Report Share Posted March 25, 2013 p.s. It was 20 baht / US$ until 1982, when the government decided to let the baht free float. (It "floated" up to about 28 before settling down again.) It stayed at 25 until the 1997 financial fiasco, engineered by the Thai government under Chawalit. It was George Soros (the hedge fund guy and "the man who broke the bank of England because of his $1 billion in investment profits during the 1992 UK currency crisis), who identified the amonaly that Thais were borrowing in US dollars which had a lower interest rate rather than the Thai baht with the corresponding higher rates, resulting in the large discrepancy between the trade and capital accounts and were untenable. Accordingly, he believed that the Thai baht was overvalued and placed huge bets against it (by shorting the Thai baht massively). The Central Bank of Thailand used up all its reserves in defending the baht but to no avail. That was why the baht sank to an all time low...50 something to the US dollar. Meanwhile, during this time, the IMF insisted that Indonesia raise its petro prices inorder to get the requested funding/borrowings. The government warned that by doing so, it can bring down the government. IMF still insisted and riots ensued; the government of Indonesia fell. The American consumers benefited by the Asian crisis which resulted in lower prices from imports of consumer goods. Americans traveling abroad benefited much by the stronger dollar. Needless to say, I looked upon that time as the golden years...something that is not likely to be repeated. Btw, George Soros is still hated in Thailand as well as Malaysia. Nice glossing over of real world history there... Nevermind that crony capitalism (in both countries) was totally allowed to flourish with zero checks, e.g., banks allowing owners friends to mortgage up to 10x the value of *unbuilt* properties, roll it and do it again, and well, the lack of a papertrail of ownership is meaningless between friends, innit? Ol' George Soros wouldn't have been able to do what he did had things been straight here. Kinda like the Wall Streeters in the US in 2007-2008, right? Do you hate capitalism? I am a commie-pinko by US standards, and think he did good, and I did some similar things on a MUCH smaller scale. You are not a Thai (or UMNO Malay) by chance Jon46? You seen to have their disease: glossing over the reality and blaming anyone except who needs to be blamed for their situation (actually Mahathir did good and told the West/IMF to fuck off and MY came out pretty good after '97 all things considered). Oh, wait, maybe you are an American Republican. They have that disease too LOL! It is entertaining to watch, like a movie it is so unreal. And of course, the Thais just did it again with the silly car give-away. My bro-in-law (who owns a repo company) is licking his chops and I am fronting a few M baht capital so to be prepared when all these dodgy PTP B100k car loan giveaways go south... We figure by the end of the year we'll not be able to keep up with demand from the banks. Vietnam, Cambodia, Myanmar & even Malaysia are all waiting for a flood of cheap, low-miles used cars! Woo hoo! Link to comment Share on other sites More sharing options...
jon46 Posted March 26, 2013 Report Share Posted March 26, 2013 Well....I am not Thai nor Malaysian but an American who is a registered Independant (not Republican or Democrat). Yes, George Soros identified an area where he can profit and he profited handsomely. But you have stated correctly that the US government bailed out Wall Street and those fat cats CEOs who cooked their books by unlawfully inflating their P&Ls walked away with millions of dollars in bonuses and severences and others are still at their CEO posts. No one went to jail. I recall that during the Asian crisis, Japan was prepared to help bail out Thailand and other contagion countries but it was Timothy Geitner, the then young associate in the Treasury dept under Robert Rubin who once lived in Thailand strongly advised against Japan bailing out Thailand and other countries. Why, so that import prices will down down and US consumers will enjoy lower prices! Unfortunately, Thais (Koreans as well) suffered during this period. Eventually, Thai banks were either restructured or recaptialized and the reserves of Thailand were built back up. Yes, Mahathir did good by going against the advise of the West by fixing the price of the Ringgit versus letting it float. There is a double standard in this world...the rich and power get help while the less connected get the screws! Link to comment Share on other sites More sharing options...
torrenova Posted March 31, 2013 Report Share Posted March 31, 2013 A big retirement killer is the decision people made, wisely they thought, to keep their assets in "safe" western assets and live off the income generated, reliant on high FX rates. I've always plugged for removing the accommodation issue through purchase and if you can't afford to buy, then you can't afford to retire to LOS. I am a convert from condos to houses but you can sort out that ownership stuff by buying and renting out a condo and using that cash to rent a house if you hate the Ltd Co. route. It keeps you in the property game and insulates you against future rent rises. I still say Bt2m a year income is comfortable. Bt1m is too little for me. I'd sure want an inflation hedge though. Link to comment Share on other sites More sharing options...
Dexi Posted March 31, 2013 Report Share Posted March 31, 2013 Putting some cash into Thai stocks would have been a very good move a few years ago ( check out the Aberdeen New Thai IT,listed as ANW ) already good capital growth has been boosted by favourable x-rate movements.Too late to get in now ? Probably Link to comment Share on other sites More sharing options...
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