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Is there any justice in how different Thai Embassy's treat people who bought house/condo in Thailand?

Sweet Swede

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alyx Platinum Member

alyx

Posted
Posted
3 minutes ago, kenk24 said:

probably am, as you sure don't seem to be engaged.. good luck in future endeavors

I am glad you realise that 

thanks ( note that I am engaged and will soon get married ) 

 

thanks again 

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garyk Gold Member

garyk

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Posted
6 hours ago, jomtienisgood said:

Why would that be ???? Th : one of the only countries in the world where you can get some interest on your account. Fixed deposit=2.4%. where do you get this?????

Depends on where you are from I suppose. I doubt 2.4 % keeps up with inflation. I tend to agree that Investing in Thailand is an extremely bad idea.

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garyk Gold Member

garyk

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Posted
On 11/15/2020 at 3:41 AM, garyk said:

Depends on where you are from I suppose. I doubt 2.4 % keeps up with inflation. I tend to agree that Investing in Thailand is an extremely bad idea.

Anyone putting 800K in a Thai bank is basically a fool, and the banks are laughing all the way to the bank (so to speak with your money). Unless you are a millionaire and 25K US means absolute nothing to you what  so ever. 

Now with the other rules coming into place which will be in place for years IMO.

I know very little about investing at this point, but I am rebalancing my account for retirement now. My equities in the last 5 years have made me 40% thanks to Qualcomm, S&P 500 fund has me at 23 % as of yesterday!

A fool and his money takes on a whole new meaning in the LOS's. 

It is like leasing a new car, just throwing your money away. Absolute and total loss at the end of the day.

 

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jacko45k Star Member

jacko45k

Posted
Posted
10 hours ago, garyk said:

Anyone putting 800K in a Thai bank is basically a fool,

Rubbish....... anyone making such blanket statements is ignorant.

The money is in lieu of either marrying a Thai woman, or paying an agent 15-20,000 baht. It is also an emergency fund. What do I care about chasing stocks and shares at my age? I am retired. 

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jomtienisgood Platinum Member

jomtienisgood

Posted
Posted
On 11/15/2020 at 4:41 PM, garyk said:

Depends on where you are from I suppose. I doubt 2.4 % keeps up with inflation. I tend to agree that Investing in Thailand is an extremely bad idea.

Maybe, but that's better than any bank account in EU.Not talking about investing...

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treetops Platinum Member

treetops

Posted
Posted
5 hours ago, jacko45k said:

It is also an emergency fund. What do I care about chasing stocks and shares at my age?

Let someone else chase the stocks and shares for you?  Even after their fees you should make double any visa agent's costs.  I understand the emergency fund, but the effect of withdrawals at visa renewal time need to be taken care of which might cause issues for some.

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tso310 Silver Member

tso310

Posted
Posted

Its not a question of justice its that each Thai Ministry is in effect the personal fiefdom of the minister in charge and there is very little co-operation between them. One upmanship and good local publicity is the name of the game. With Prayuth showing very little leadership since the election, not getting a clear majority for his party hurt him politically, its every Minister for himself. Can't think of any actual females in charge of a government ministry but there must be one.

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ubonjoe Legendary Member

ubonjoe

Posted
Posted
On 11/18/2020 at 4:43 PM, jomtienisgood said:

Joking; AQHHHH Joe, if you don't know??????

I have seen nothing about a new type of extension of stay issued by immigration for a 3 million baht investment.

The is only one for a 10 million baht investment that can be a condo purchase or money in the bank or government bonds or a combination of them totaling 10 million baht.

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garyk Gold Member

garyk

Posted
Posted
On 11/17/2020 at 6:51 PM, jacko45k said:

Rubbish....... anyone making such blanket statements is ignorant.

The money is in lieu of either marrying a Thai woman, or paying an agent 15-20,000 baht. It is also an emergency fund. What do I care about chasing stocks and shares at my age? I am retired. 

Emergency fund?????  If that is your emergency fund then if something happens you are heading home.

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jacko45k Star Member

jacko45k

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Posted
7 hours ago, garyk said:

Emergency fund?????  If that is your emergency fund then if something happens you are heading home.

For whatever, be it a hospital bill, a vehicle issue, or yes, to finance a trip home. But it is mainly there to support my being in Thailand. I do not have income as such so having money on deposit is how my retirement extension is supported.  I actually keep more than that in Thailand....

I see no link between it being my emergency fund and 'having to go home' whatsoever. You need to be more clear.

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Mike Teavee Platinum Member

Mike Teavee

Posted
Posted
9 hours ago, garyk said:

Emergency fund?????  If that is your emergency fund then if something happens you are heading home.

As opposed to you having no emergency fund because all your money is invested???. 

 

IMHO the smart thing to do is to keep at least 6 months living expenses in cash in the bank so you're not forced to liquidate assets if something unexpected happens + having cash in the bank (especially in times like these) gives you opportunities to buy into investments on a sudden dip... Example from the UK I know, but I flipped a couple of UK Bank Stocks about 1 month ago & made a little over 20% in exactly 1 month. 

 

Don't believe me? Look at the Barclays & Lloyds share price on 22nd/23rd September & compare that to when I sold out on 22nd/23rd October,  if I'd have held for longer I would have made another 15+% but I hit a target that I'd set & took the profit... No regrets... 

 

It's all about balancing your investments & having cash in the bank is a part of this (especially if you're retired & living off investments because you're too young to have a pension), I personally wouldn't feel comfortable having less than 6 months spends in the bank & during the increase in GBP (&SGD):THB a few months back increased this to > 2 years spends, mainly to hedge against a No-Deal BREXIT... Hopefully Brexit will go well & I'll regret making the transfers when I did but it's worth it to me for the peace of mind of  knowing that I don't HAVE to bring any more money into Thailand for the next 2 years.

 

 

 

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garyk Gold Member

garyk

Posted
Posted
8 hours ago, Mike Teavee said:

As opposed to you having no emergency fund because all your money is invested???. 

 

IMHO the smart thing to do is to keep at least 6 months living expenses in cash in the bank so you're not forced to liquidate assets if something unexpected happens + having cash in the bank (especially in times like these) gives you opportunities to buy into investments on a sudden dip... Example from the UK I know, but I flipped a couple of UK Bank Stocks about 1 month ago & made a little over 20% in exactly 1 month. 

 

Don't believe me? Look at the Barclays & Lloyds share price on 22nd/23rd September & compare that to when I sold out on 22nd/23rd October,  if I'd have held for longer I would have made another 15+% but I hit a target that I'd set & took the profit... No regrets... 

 

It's all about balancing your investments & having cash in the bank is a part of this (especially if you're retired & living off investments because you're too young to have a pension), I personally wouldn't feel comfortable having less than 6 months spends in the bank & during the increase in GBP (&SGD):THB a few months back increased this to > 2 years spends, mainly to hedge against a No-Deal BREXIT... Hopefully Brexit will go well & I'll regret making the transfers when I did but it's worth it to me for the peace of mind of  knowing that I don't HAVE to bring any more money into Thailand for the next 2 years.

 

 

 

As opposed to you having no emergency fund because all your money is invested???.  Who said I didn't have an emergency fund?????

Also if using  800K baht as an emergency fund you are going to be going home. 

Like I said unless a millionaire and the 800K is throw away money,  it is a fools game.

You are going to loose.

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Mike Teavee Platinum Member

Mike Teavee

Posted
Posted
2 hours ago, garyk said:

As opposed to you having no emergency fund because all your money is invested???.  Who said I didn't have an emergency fund?????

Also if using  800K baht as an emergency fund you are going to be going home. 

Like I said unless a millionaire and the 800K is throw away money,  it is a fools game.

You are going to loose.

I'm confused, so you do have money in the bank as an emergency fund & it's just Thai Banks that you think are a fool's game or is that your emergency fund made up of some other "Asset" or maybe a Credit Card/Line ? 

 

Let me try to put it into generic terms rather than going into details & it becoming a dick measuring contest... 

  1. Only Liquid Assets/Credit Lines are of use in an emergency as you cannot be sure of being able to get the cash from selling property, cars or even stocks fast enough 
  2. It's possible to have those + 800K in the bank

... So the 800K forms part of an Emergency fund, it doesn't mean that's all there is to it. 

 

Couple of questions... 

  1. In what way is the 800K "Thrown away money" it's still there in the bank & I can spend it anytime I like 
  2. What do you use to support your extension of stay (assuming you live in Thailand)

 

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garyk Gold Member

garyk

Posted
Posted
2 hours ago, Mike Teavee said:

I'm confused, so you do have money in the bank as an emergency fund & it's just Thai Banks that you think are a fool's game or is that your emergency fund made up of some other "Asset" or maybe a Credit Card/Line ? 

 

Let me try to put it into generic terms rather than going into details & it becoming a dick measuring contest... 

  1. Only Liquid Assets/Credit Lines are of use in an emergency as you cannot be sure of being able to get the cash from selling property, cars or even stocks fast enough 
  2. It's possible to have those + 800K in the bank

... So the 800K forms part of an Emergency fund, it doesn't mean that's all there is to it. 

 

Couple of questions... 

  1. In what way is the 800K "Thrown away money" it's still there in the bank & I can spend it anytime I like 
  2. What do you use to support your extension of stay (assuming you live in Thailand)

 

Enjoy your stay in Thailand.

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garyk Gold Member

garyk

Posted
Posted
1 hour ago, Mike Teavee said:

 

 

Don't worry I am... And maybe you will also one day... 

 

I already did, years of living in Thailand. Unfortunately financially it's a fool's game living in Thailand. Not to mention the pollution. Reading your posts have only strengthen my opinion.  A fool and his money. 

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Mike Teavee Platinum Member

Mike Teavee

Posted
Posted
7 hours ago, garyk said:

I already did, years of living in Thailand. Unfortunately financially it's a fool's game living in Thailand. Not to mention the pollution. Reading your posts have only strengthen my opinion.  A fool and his money. 

 

LMAO, by your own admission you're new to investing (and you're what? In your 40s?) & you're calling somebody who retired at 53 (actually 47 but I went back to working in Singapore after 15 months spent travelling around Australasia to help a mate out on a project) a "Fool with his Money"?

 

It's all becoming clear now, you wasted your best earning years working in Thailand for a pittance (Teacher per chance)? with no real savings for your future, now you've had to go back to your home country because you can no longer afford to live here & spend your time trolling Thai forums sniping at those who can. 

 

 

There's Only 1 fool here...  

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