Guest Posted June 19, 2003 Report Share Posted June 19, 2003 Where do you all keep your money? I dont mean to sound like a smart ass, but obviously some of you guys are pretty savvy on managing your retirement funds,and managing it all in a foriegn country would complicate it even more. I talked to another board member and he wants to save up $200,000 and collect 10 percent on that, which would give him $2,000 a month to live on. My question is, how do you invest your money to where you are getting a decent return and be able to withdraw from it every month? Then I assume you would have to transfer it to a thai bank. Do you do it online? telephone? or is it done automatically with an arrangement from your brokerage to your bank? I dont seriously plan on making the move for at least another 10 years but I just want to start getting my ducks in a row now, and just thought it would be an interesting discussion Link to comment Share on other sites More sharing options...
rickfarang Posted June 19, 2003 Report Share Posted June 19, 2003 Yeah, I'd like to get 10% per month on a low risk or gauranteed deposit. Let me know when you see it. Right now, it looks like low risk rates are going to stay very low for a very long time. I have my retirement funds in CDs (low yields but at least I wasn't heavily into stocks in 1999 and beyond) and the proceeds are deposited monthly in my U.S. bank account. I get cash in Thailand by wire transfers to a Thai ATM account when in the U.S. and also use internet transfers to a U.S. based ATM account from which I also draw when the Thai account gets low prior to my visits to the U.S. If I stop visiting to the U.S. my U.S. bank can arrange for automatic monthly wire transfers to my Thai account. Wire transfers are a bit cheaper than using ATM machines. Your mileage may vary. Now, back to that investment that yields 10%. That would be interesting if it were real. RickF Link to comment Share on other sites More sharing options...
Guest Posted June 19, 2003 Report Share Posted June 19, 2003 I agree 10% is impossible in a safe fund, but I didnt want to rain on his parade so I just went along with it. Link to comment Share on other sites More sharing options...
pattaya127 Posted June 19, 2003 Report Share Posted June 19, 2003 truly, this thread belongs to FINANCES section. Moderator Link to comment Share on other sites More sharing options...
SingaporeSteve Posted June 20, 2003 Report Share Posted June 20, 2003 Personally speaking, I have invested my cash in property and then rent out the property to pay off the mortgages. Quite capital intensive to start, but once the mortgages are paid off in 5 years, income will equal 17% of what I paid for the property. Currently residue from rent less mortgage is about 4% return. However based on what I put into the property return is somewhere around 30% mark. I cant speak for anyone else, but for me personally, property has always been a safe and quite profitable bet. I still work in Thailand and get a pretty decent salary. My forcast is to get up to 5 houses, which by my reckoning could be done within 3 years and be fully paid off within 8 years. Income from 5 houses which would have cost me about 12M baht in down payments (mortgages paid by renters) and produce a return of roughly 4,100,000 per annum or about US$100,000 once the eight years is up. No account taken of capital appreciation of the property asset. I actually have very little cash at the current time as I am so keen on doing this idea I am putting it all toward property purchase but it should mean I could stop work in 3 years (by which time, my income would be about 120,000B month) although thats not a huge amount and would probably stop in around 5 years which is when I am 40 and they would generate somewhere around 240,000 month, rising in 75000 increments up to about 425,000 month. I have been lucky in that I was left some money that kicked me off in this but getting some capital to start this kind of thing is always the hard part. once you have got it going, its quite easy so long as you buy GOOD property that has a strong rental demand. Thats my plan anyway (+ I have a frozen pension plan and a couple of offshore bits and pieces that are def not performing at the moment as a risk spread). Cheers Link to comment Share on other sites More sharing options...
Nervous_Dog Posted June 21, 2003 Report Share Posted June 21, 2003 I use a variety of Thai Banks for local money, and Off Shore for non local money - or local money that I can get there. Singapore Steve is right, Property is good, I bought in Queensland, with the land rising, and the Dollar rising (Aussie) I am making a lot more than 10%. However I expect that rate of increase too fall of soon. The real question you should be asking is "How do you avoid paying taxes" which is where real savings can be made. JB Link to comment Share on other sites More sharing options...
Guest Posted June 21, 2003 Report Share Posted June 21, 2003 i spend my money, what comes in goes out - keep the free market economy going and all that. in the good days i have hell of a life - in the dry days it's back to basics. Link to comment Share on other sites More sharing options...
BelgianBoy Posted June 21, 2003 Report Share Posted June 21, 2003 Says flyonzewall: i spend my money, what comes in goes out - keep the free market economy going and all that. in the good days i have hell of a life - in the dry days it's back to basics. Does that mean you'll pay for lunch next time ??? :) Cheers ! Link to comment Share on other sites More sharing options...
Guest Posted June 21, 2003 Report Share Posted June 21, 2003 Says BelgianBoy: Does that mean you'll pay for lunch next time ??? :) Ah, I see, you met Fly too. All I can say is, I had the pleasure too, and, yep, he is an extremely nice guy. Good luck for you (will soon be) expats! Hopefully, some day... Link to comment Share on other sites More sharing options...
Guest Posted June 21, 2003 Report Share Posted June 21, 2003 >>>Does that mean you'll pay for lunch next time ??? <<< i'll give it a try - dry days though right now. getting very dry. Link to comment Share on other sites More sharing options...
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