Jump to content

Strong Bhat Makes my 800,000 for my extension look a good investment


Recommended Posts

So nice that someone is feeling so good about moving some money here long ago that they have to share with the TVF world. I moved several MM here too when I came at the end of 2016 when the THB/USD was around 36/1, but i never felt the need to share that with strangers and make others feel bad. People still have to move money over now periodically to live on even if they moved money over years ago. So, what's the point of bragging about it to the world. Just enjoy your good fortune and try to be considerate of others who may not be so fortunate. Good luck to all. I've had enough social media... Going enjoy my remaining years... ????

Edited by JohnnyBD
  • Like 2
Link to comment
Share on other sites

8 minutes ago, JohnnyBD said:

So nice that someone is feeling so good about moving some money here long ago that they have to share with the TVF world. I moved several MM here too when I came at the end of 2016 when the THB/USD was around 36/1, but i never felt the need to share that with strangers and make others feel bad. People still have to move money over now periodically to live on even if they moved money over years ago. So, what's the point of bragging to the world. Just enjoy your good fortune and try to be considerate of others who may not be so fortunate.

I share because of the false and negative impression most posters try and create about Thailand in general and Thai banks in particular.  Most of our negative posters brag that they would never put money in a Thai bank because they are not secure and they make more money at home which is of course nonsense. 

 

But, how will anyone know it's nonsense if you don't tell them.  I think the posters who don't know Thai banks are insured and the track record against the pound are the ones who should keep quiet because no one likes a story about failure.  

 

If I go to a hospital and receive excellent treatment should I keep quiet?  If I go to a bank and receive excellent treatment should I also keep quiet?  

 

Sorry you didn't pay attention to what I was saying 15 years ago.  Maybe next time you will listen and be better off financially as a result.  Follow success.  Listen to the posters who have a track record of being right not of being in the majority.  

Edited by marcusarelus
  • Like 2
  • Confused 1
Link to comment
Share on other sites

1 hour ago, marcusarelus said:

I share because of the false and negative impression most posters try and create about Thailand in general and Thai banks in particular.  Most of our negative posters brag that they would never put money in a Thai bank because they are not secure and they make more money at home which is of course nonsense. 

 

But, how will anyone know it's nonsense if you don't tell them.  I think the posters who don't know Thai banks are insured and the track record against the pound are the ones who should keep quiet because no one likes a story about failure.  

 

If I go to a hospital and receive excellent treatment should I keep quiet?  If I go to a bank and receive excellent treatment should I also keep quiet?  

 

Sorry you didn't pay attention to what I was saying 15 years ago.  Maybe next time you will listen and be better off financially as a result.  Follow success.  Listen to the posters who have a track record of being right not of being in the majority.  

 

My concern would be if I die and my families attempt to repatriate any money.  Good luck I told them.  More likely donated to said bank.  I don't think Thai banks are risky, just difficult to deal with maybe.

How is it nonsense if your 800k here is not making anything or making 1.5% is the highest I've seen currently...so far, but the $26k in US in a S&P index ETF could be making 2% up to 24% cap gains and at least 1.6-2% dividend?  

 



 

  • Like 2
Link to comment
Share on other sites

Never really had a problem with the Banks here, even had a 5000 error on an ATM checked, and got the money back a few days later with a smile. (had accounts here since the green K was farmers bank).

Don't think the Banks stability is the issue, I've no long term stability here, look at the previous posts of "how will I get all my assets if I cannot get back into Thailand" or "my work permits ended 7 days to get my stuff" etc That's why I would be wary of keeping a lot of cash in accounts here in my name only.

Minimums, could perhaps be considered maximums as well!

 

  • Like 2
Link to comment
Share on other sites

3 minutes ago, Nowisee said:

How is it nonsense if your 800k here is not making anything or making 1.5% is the highest I've seen currently...so far, but the $26k in US in a S&P index ETF could be making 2% up to 24% cap gains and at least 1.6-2% dividend?  

USD 1 year term saving account in a Cambodian bank can get you 6%

Link to comment
Share on other sites

3 minutes ago, Nowisee said:

 

My concern would be if I die and my families attempt to repatriate any money.  Good luck I told them.  More likely donated to said bank.  I don't think Thai banks are risky, just difficult to deal with maybe.

Make a will and appoint an executor.  

Link to comment
Share on other sites

5 minutes ago, Nowisee said:

 

My concern would be if I die and my families attempt to repatriate any money.  Good luck I told them.  More likely donated to said bank.  I don't think Thai banks are risky, just difficult to deal with maybe.

How is it nonsense if your 800k here is not making anything or making 1.5% is the highest I've seen currently...so far, but the $26k in US in a S&P index ETF could be making 2% up to 24% cap gains and at least 1.6-2% dividend?  

If you want to invest in ETF's you have enough money so 800k is likely pocket change.  Also.  ETF's are not as secure as banks.  If they were there would be no one putting money in banks in America.  

 

I put 16k in a Thai bank in 2005 for my retirement extension.  Now it would cost me 25k.   

Link to comment
Share on other sites

1 minute ago, Nowisee said:

They can have my ATM card and pin, much easier.

But not legal.  The important thing is you already had a plan but only posted about the transfer of funds to relatives to post another made up negative about Thailand?  Right?  

Edited by marcusarelus
Link to comment
Share on other sites

1 minute ago, marcusarelus said:

Put 16k in a bank in America in 2005 and in a Thai bank in 2005.  I got the valuation of currency, my extensions, and 2% a year.  What did you get in America?

 

You've evaded answering the question twice now and your traveling back in time with a deflective answer.
I withdraw my question..

Link to comment
Share on other sites

42 minutes ago, BritManToo said:

USD 1 year term saving account in a Cambodian bank can get you 6%

If that was the whole story then all the spare USD in the world would be deposited in Cambodian banks.

 

Clearly if Cambodian banks are paying way over the odds there must be some downside to it.

Link to comment
Share on other sites

44 minutes ago, Nowisee said:

 

You've evaded answering the question twice now and your traveling back in time with a deflective answer.
I withdraw my question..

What, you can't add?  The money in the Thai bank makes far more than the same cash in an American bank.  The interest is the same and the extra 50% for currency valuation is free money.  Why would you ask such an obvious question?

 

Your first question's answer was make a will.

Your second question's answer was ETF's and banks are not comparable.

Your third question's answer is a Thai bank makes as much interest and the appreciation of the currency value is gravy on top of that - 2005 till now 16k to 25k.  

Edited by marcusarelus
Link to comment
Share on other sites

6 hours ago, riclag said:

Yah, ,as soon as I send 100k over to pay for my house. I'm afraid to look at the exchange rate (USA). I started looking at 33.5 awhile back. I found a ideal neighbor hood . I never expected I would be loosing 10k since then. That was for my furniture. I told her we have to sleep in the old bed ,no new stuff for a long time

If you only lost 10k you are not doing too bad. Even though the AUD/THB rate was about 30 when I came here I looked at a long term average of 26. That was ok until we purchased the property at 23.6 which was a loss of 600,000 baht on my expectations. Every cloud has a silver lining so 23.6 is better than 21.6.

Link to comment
Share on other sites

6 hours ago, cmsally said:

Bear in mind, the deposit protection in Thailand is rapidly dropping. This year it goes from 10m to 5m and next year it will be down to 1m only.

It was supposed to drop to 1m in 2016 but it was delayed.  I wonder if the same will happen this time.

Link to comment
Share on other sites

5 hours ago, tgeezer said:

Like pilotman, I get a good feeling when I see that I got the 800,000 fixed account cheaply and have as much right to be joyful in it as pensioners have to be sad at the drop in Baht value of their pensions.  Certainly people who preached that the loss of return in locking up fifteen thousand quid must be green when they see that it is now worth twenty one thousand to those of us who did it! 

But what do you live on. Not the 800,000 at the old rate.

Link to comment
Share on other sites

1 minute ago, marcusarelus said:

I never lived on the 800k.  Don't you have more than that in the bank at home?  Or do you live one month at a time?

I was quoting another poster if you cannot take the time to read. Otherwise be quite.

  • Like 2
  • Sad 1
Link to comment
Share on other sites

5 minutes ago, GreasyFingers said:

I was quoting another poster if you cannot take the time to read. Otherwise be quite.

You don't live on the 800k at any rate old or new.  Unless you live month to month which would be foolish and mean you really don't have enough to live in a foreign country.  Sorry if I misunderstood you.

Edited by marcusarelus
  • Confused 1
Link to comment
Share on other sites

5 hours ago, tgeezer said:

Like pilotman, I get a good feeling when I see that I got the 800,000 fixed account cheaply and have as much right to be joyful in it as pensioners have to be sad at the drop in Baht value of their pensions.  Certainly people who preached that the loss of return in locking up fifteen thousand quid must be green when they see that it is now worth twenty one thousand to those of us who did it! 

I agree with you as you are not going to live on the 800k anyway as it's in a fixed account.  

Link to comment
Share on other sites

8 hours ago, Pilotman said:

I hold the largest shareholding, but not the majority.

Thanks for your honesty. 

 

In my opinion, you have gone the right way about it, and as you said, the debate has been done to death in the past, but there is still something distasteful with a foreigner fronting the money for the largest shareholding, but not the majority, in Thailand, but TIT. 

 

All foreigners take a risk on property here, no matter which why you go. 

Link to comment
Share on other sites

3 hours ago, marcusarelus said:

No I'm not.  The account is secured to 1 million baht.  I've been a bank customer in Thailand since 2005.  What risk?  If you put your money in your cave - not much for us to discuss is there?

You are right there is not much for us to discuss.  

  • Like 1
Link to comment
Share on other sites

4 hours ago, marcusarelus said:

I share because of the false and negative impression most posters try and create about Thailand in general and Thai banks in particular.  Most of our negative posters brag that they would never put money in a Thai bank because they are not secure and they make more money at home which is of course nonsense. 

 

 

My 800k in a Thai bank makes 1.5% interest if I'm lucky, less tax. The appreciation of the baht is only realized when one cashes in and leaves Thailand for good. The 800K for retirement extension is effectively dead money that Thai banks gleefully accept and then lend out at 6-7% to Thais.

I do make a lot more money from my investments in Australia - a minimum of 5.2% interest on first mortgage lending, averaging 7.5% on peer-to-peer lending. About 7% grossed up yield on blue chip stocks such as the banks.

If you consider that nonsense, I'd like you to explain how my facts are wrong.

  • Like 2
Link to comment
Share on other sites

2 hours ago, Airalee said:

It was supposed to drop to 1m in 2016 but it was delayed.  I wonder if the same will happen this time.

 

1545611953990-1b49bbc597.png

 

I assume the delay is coming into action, as per the photo above. Many people have been getting a leaflet through the mail in the last few days.

  • Like 2
Link to comment
Share on other sites

1 hour ago, Leaver said:

Thanks for your honesty. 

 

In my opinion, you have gone the right way about it, and as you said, the debate has been done to death in the past, but there is still something distasteful with a foreigner fronting the money for the largest shareholding, but not the majority, in Thailand, but TIT. 

 

All foreigners take a risk on property here, no matter which why you go. 

That would be true in our case if I didn't love, respect and trust my wife, as she does me, saying nothing about our loving and respectful daughter. To us its always been 'our' money, 'our' assets, 'our' life, well for the past 22 years at least. 

  • Like 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.





×
×
  • Create New...