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WalterA

Struggling financially in Thailand ..

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WalterA

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Uk Pensions

Blue / pension increases passed on

Red / not passed on 

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Edited by WalterA

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deano4598

Guys please, reporting AND quoting just makes it harder to clean up. Just report please and leave it to us.

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CamelToe
On 15 March 2019 at 19:23, WalterA said:

I don't understand why people who have worked their whole life in a western country and should retire comfortably in Thailand .... seem to end up with no assets struggling on a small pension .... 

 

Condo's are relatively cheap in Thailand , wouldn't  you at the very least buy a  condominium and not have to pay rent. The price of a condominium (just a normal 32 sq m) is the price of a medium car/sedan in Australia. 

 

I've seen many people get in financial trouble recently, I struggle to make sense of it ....

 

Did they give everything to their children ....

Did they give everything to their ex-wife ....

Did they give it all to Tilak in Issan and when the house was built got the boot?

Did they gamble it away .... drink it away ....

 

Yes, the Baht is quite strong, but that doesn't explain it all and tick all the boxes ....

 

 

 

On 15 March 2019 at 19:23, WalterA said:

I don't understand why people who have worked their whole life in a western country and should retire comfortably in Thailand .... seem to end up with no assets struggling on a small pension .... 

 

Condo's are relatively cheap in Thailand , wouldn't  you at the very least buy a  condominium and not have to pay rent. The price of a condominium (just a normal 32 sq m) is the price of a medium car/sedan in Australia. 

 

I've seen many people get in financial trouble recently, I struggle to make sense of it ....

 

Did they give everything to their children ....

Did they give everything to their ex-wife ....

Did they give it all to Tilak in Issan and when the house was built got the boot?

Did they gamble it away .... drink it away ....

 

Yes, the Baht is quite strong, but that doesn't explain it all and tick all the boxes ....

 

 

During my life I have seem many of my mates struggle with money,they have no idea how to manage it.Managing money is actually a skill.i have my own business and some of my contractors I have to do forced savings for them.

these guys get paid say 2k on Friday and come Wednesday they've got no money for petrol to get to my jobs.instead of paying them 2k ill pay them 1.5 k so when the time comes to pay their rego and other business expenses I will have the money for them and keep them ticking over.

And what do they spend their money on? I have no idea

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Captain Dave
12 hours ago, everard said:

no one has ever gone up the kyhber pass and returned victorious

The Third Foot and Mouth Regiment did, as shown in that excellent documentary 'Carry on up the Khyber'

 

I also think Alex the Greek chap did OK too, albeit a while ago.

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Captain Dave
5 hours ago, jed§ said:

Back in '07 when things looked rosy, I met someone at a BBQ who worked in the city. We talked a bit and he said to me that the UK was on the verge of a recession. I asked him why he thought so. He told me it was going to happen because of the cost of the Afgan War. 

I don't want to get political, but wars and their costs are just as likely to spark economic booms (WW2 - USA, Korean War - Japan, etc)

Not that that's a reason to start one of course! 

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sharka

Ive done quick calculations just on what i expect to receive when i retire and move to LOS.

What i will get is not a whole lot to begin with. If i started to add up just the basic needs to live on day in and day out , it will leave me with only a small portion for “entertainment”. But mongering cost in general could easily exceed  the basics.

So for me, my retirement income would allow just a basic living with perhaps a few times a month mongering. Anything more than that and I will have to dig into my savings which would last perhaps 4 yrs. 

But main problem is mongering cost will always accelerate much faster and higher than my retirement income .

People with much higher retirement income will do well and still have fun. People like myself have to watch how much I can spend on living expenses and some mongering cost, always hoping the mongering cost don’t go up (but that’s a fantasy)

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jocky king
25 minutes ago, sharka said:

Ive done quick calculations just on what i expect to receive when i retire and move to LOS.

What i will get is not a whole lot to begin with. If i started to add up just the basic needs to live on day in and day out , it will leave me with only a small portion for “entertainment”. But mongering cost in general could easily exceed  the basics.

So for me, my retirement income would allow just a basic living with perhaps a few times a month mongering. Anything more than that and I will have to dig into my savings which would last perhaps 4 yrs. 

But main problem is mongering cost will always accelerate much faster and higher than my retirement income .

People with much higher retirement income will do well and still have fun. People like myself have to watch how much I can spend on living expenses and some mongering cost, always hoping the mongering cost don’t go up (but that’s a fantasy)

Always Remember  that the retirement expat sex life is in decline in later years so the mongering cost  won’t be a burden BUT the health insurance cost is increasing as they grow older  . I’m more concerned about the health insurance than the mongering cost . For me if I retire in Pattaya , I would be happy to have two lady a week , that would set me back for 12,000 bt a month .  Health insurance cost is the main worry for the retirement expat .

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Scuba+
Always Remember  that the retirement expat sex life is in decline in later years so the mongering cost  won’t be a burden BUT the health insurance cost is increasing as they grow older  . I’m more concerned about the health insurance than the mongering cost . For me if I retire in Pattaya , I would be happy to have two lady a week , that would set me back for 12,000 bt a month .  Health insurance cost is the main worry for the retirement expat .
I agree, unless you are taking care of a "girlfriend" and paying all those related expenses, that will mount up

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dexxter2010
On 23/03/2019 at 14:09, fickle said:

Totally disagree, the UK Gov should find a way of massively taxing any money sent over seas. It's got to very harmful to the economy that so much money is sent out of the country each month never to return

Perhaps first they should start finding ways to tax all the corporations and wealthy people who squirrel all their money away in overseas tax havens and avoiding paying any tax at all. It always seems to be that the poorer you are, the more you have to contribute and the less you get back. This applies to many countries, not just the UK.

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dexxter2010
19 hours ago, udontony said:

Everything is OK and good until the day you are found out and now with computers tracking everything I would never risk it.

All they have to do is match your passport travel details with your pension details and you are screwed. Or look up your banking details and wonder why so much of your pension funds are being sent to an overseas bank..

Edited by dexxter2010

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onehunglo
2 minutes ago, dexxter2010 said:

All they have to do is match your passport travel details with your pension details and you are screwed.

they even stop you from flying if you owe money on child support . they know more about yourself than you do in most cases

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Forsythia

More Aussie Boomers will be feeling the pinch as house prices fall across the country.

 

 

 

EDIT: 2019 quarter 4 is supposedly the bottom of the house price market.

It's hard to believe that people who have over extended their income on interest only loans to the banks, will give it up in 9 months

No amount of neg gearing will save anyone who can't afford their investment property

 

The Liberal Government will get their share.

 

The banks will ultimately win.

 

Edited by Forsythia

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WalterA
5 minutes ago, Forsythia said:

More Aussie Boomers will be feeling the pinch as house prices fall across the country.

 

 

So much empty land ..... Probably 98% of the land surface but everybody wants to squeeze into Melbourne and Sydney ..... The housing boom or I like to call it disaster happened because the government failed to regulate foreign buyers .... Aussie dream of house ownership just became a nightmare ..... Greedy banks are delighted ... Everybody is borrowing to buy overpriced land and houses ... 

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dexxter2010
33 minutes ago, Forsythia said:

More Aussie Boomers will be feeling the pinch as house prices fall across the country.

House prices will plateau, perhaps even fall 10-20%, and then start going back up again. It also depends on area of course. I have 3 properties in Melbourne. 2 are in expensive, trendy areas and their value might have gone down a little because they were over-priced. The other is in an outer suburb and its value has gone up around 30% in the past 2 years, because it was fairly cheap to start with and people who can no longer afford inner suburbs are moving further out causing those prices to increase.

There are two things I can think of that keep prices high.

1. People usually don't have to sell and will hang on when prices are low. The only ones forced to sell are people who have over-committed themselves with a mortgage. Or perhaps are getting a divorce and need to sell to split assets as was my case 11 years ago.

2. Overseas buyers (Chinese) will push the price up in order to secure properties they want.

I never intend to sell so the actual prices of property don't affect me as long as I can still get decent rental income from them. In fact, if the price goes down then hopefully so will my local government rates, although probably not.

Edited by dexxter2010

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WalterA
9 hours ago, CamelToe said:

 

During my life I have seem many of my mates struggle with money,they have no idea how to manage it.Managing money is actually a skill.i have my own business and some of my contractors I have to do forced savings for them.

these guys get paid say 2k on Friday and come Wednesday they've got no money for petrol to get to my jobs.instead of paying them 2k ill pay them 1.5 k so when the time comes to pay their rego and other business expenses I will have the money for them and keep them ticking over.

And what do they spend their money on? I have no idea

Hookers and gambling , probably pokies .... That's where it went .... Reminds me of my mate he used to have a house of pleasure in Melbourne .... The better looking girls would make a fortune $1000 some nights to show up the next day with not even a cent .... "Can I borrow money to pay the taxi ... smokes ...." .... sad, probably blew it on drugs and pokies ...,

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Barhop

"A fool and his money are soon parted..."  Don't know the origin of the quote but it's ageless...

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jed§
8 hours ago, Captain Dave said:

I don't want to get political, but wars and their costs are just as likely to spark economic booms (WW2 - USA, Korean War - Japan, etc)   Not that that's a reason to start one of course! 

 "Not that that's a reason to start one of course!"  :D

 "just as likely to spark economic booms (WW2 - USA, Korean War - Japan, etc)"

 Partly true (although there could have been more reasons than just those wars for the USA's and Japan's economic booms at that time - they might have had ones anyway, despite those wars)  in the examples you give, Capt. except that wasn't the case for GB, Germany or the USSR after WW2, nor the same countries and France after the First, Britain after neither  the Napoleonic Wars, nor the Civil War. And me too, let's not get political. War is a risky business all round, isn't it. Anyway, I was quoting someone who told me that the War in Afghanistan was going to be a major reason for a recession. Personally, I don't think that it was, because there were many causes of the 2008 banking crisis. 

Edited by jed§

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jed§
11 hours ago, CamelToe said:

 

During my life I have seem many of my mates struggle with money,they have no idea how to manage it.Managing money is actually a skill.    And what do they spend their money on? I have no idea

I know what you mean, CamelToe. I think I was one of them, but not now. At times, in my life, I've come into money (twice to be exact) a lot of money (to me anyway at the time) The first time I was young but the second there was not that excuse. Both times I frittered it away and not only that I was constantly worried about it; where was it going etc. Now that I haven't got half as much coming in I'm better at managing it and actually save quite substantial amounts every month (to me anyway)

It's taken me a long time to acquire the skill or is it just common sense?

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dean2926
16 hours ago, dexxter2010 said:

Perhaps first they should start finding ways to tax all the corporations and wealthy people who squirrel all their money away in overseas tax havens and avoiding paying any tax at all. It always seems to be that the poorer you are, the more you have to contribute and the less you get back. This applies to many countries, not just the UK.

You cannot blame corporations for creative accounting, the system allows them to do it and the corporations seem to have better accountants than governments.

It's up to the governments to change the rules to prevent it.

Don't hold your breath waiting.

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SteveX08
23 hours ago, Captain Dave said:

I also think Alex the Greek chap did OK too, albeit a while ago.

I think BM Buttviking has the odd success up the the khyber too ...

Edited by SteveX08

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dexxter2010
8 hours ago, dean2926 said:

You cannot blame corporations for creative accounting, the system allows them to do it and the corporations seem to have better accountants than governments.

It's up to the governments to change the rules to prevent it.

Don't hold your breath waiting.

I don't blame the corporations or the wealthy for taking advantage of the rules, but these laws to protect the rich were created because of the corrupt influence of lobbyists in many countries. The wealthy have always had huge influence throughout all of recorded history and it will never change.

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