Thread: Million dollars net worth in Thailand

Hello Room,

Some facts:

I am a 38 year old Brit, but I am bored shitless in the UK, and want to move to Thailand. I am married to a Thai women and have been for many years. I've got a profession (and an income of about 45K) though I am not sure I can do what I do in Thailand and other than than , I am just another over qualified farang in Thailand, I've met 100s over the years.

I want to work (teaching English FT doesn't interest me but I'd happily do a few hours in a school for poor kids).

I don't have to work as, fortunately, I have a million USD in property, savings and investments which I try very hard to never touch though I could if I had to, it gives me security and peace of mind. Problem is it also makes me a bit lazy knowing that I dont have to work because, at my core, I am a lazy, unmotivated bastard unless my heart is totally in it, then I am driven, really driven.

I like to work for my supper but, as I said, I need to be into what I doing. And my fear is that I will just be in the bars too much if I dont have a project of sorts.

So, two question....what would YOU do in my situation and what do you think I should do?

Thanks

PS I lived in Thailand from 96-02 and my Thai was pretty good. Its a bit rusty now but I can still spend weeks with the relatives and not need to speak English.

I would check with my Thai wife and see what she thinks. If she was cool with it, I would move to Thailand with all of that money and settle in Issan and probably try to create a tutoring center.

How on earth did you get 1mil in property and investments on 45k a year. This will make TOAC's blood boil

Originally Posted by Warhammer820

I would check with my Thai wife and see what she thinks. If she was cool with it, I would move to Thailand with all of that money and settle in Issan and probably try to create a tutoring center.

Sounds like fun. Where in Issan?

---Update---

Originally Posted by buddahas

How on earth did you get 1mil in property and investments on 45k a year. This will make TOAC's blood boil

I didnt make it from the 45k, obviously.

Prefer not to say, I have it that's all.

Thanks

Originally Posted by buddahas

This will make TOAC's blood boil

Naw, he'll find a way to one-up it.

What would I do with a million dollars in Thailand? Catch the first flight out and go somewhere else.

Originally Posted by jonny danger

What would I do with a million dollars in Thailand? Catch the first flight out and go somewhere else.

How so?

Originally Posted by DonW

Sounds like fun. Where in Issan?

My gf's family is in Sisaket. I have only seen a handful of foreigners, so there has to be some kind of demand for tutoring.

---Update---

Originally Posted by jonny danger

What would I do with a million dollars in Thailand? Catch the first flight out and go somewhere else.

What if the first flight was to go to see TOAC?

Sound like you could have a nice set up there.

What is TOAC?

Originally Posted by DonW

What is TOAC?

The forum member, Thinkingofachange

Thailand seems smashing if you've never been anywhere else. It's okay but who with that means would want to live in the lap of poverty? Great if you want the big fish status. I like fauna and flora, that would make Costa Rica my first choice. The women are more beautiful, inside and out. Better educated. The laws make sense. No military. Same climate.

I'm TOAC.

Anyway, is the 1million net worth liquid? You could easily put that in a mix of corporate and municipal bonds and earn an average of 6.5% p.a., giving you $65k to live on, which would both satisfy the visa requirement and give you more than enough to live on in Thailand.

If I were in your situation--I'd probably rent an apartment on a one-year education visa in a pleasant part of Thailand (your definition of pleasant may differ form mine), hang out, and see how it feels. Then you'll be in a much better position to decide if you want to stay, and you'll know more about your options there.

That's what I'd do. As for how to spend time in Thailand--a one-year education visa would mean you'll be a student, so take classes and improve your Thai. Then if you decide to stay you can either work part-time in a school or maybe find some other work as a part-time consultant in your field. Or you could start a business related to your field.

If I may ask, do you have any investment advice? Maybe you don't want to share how you made your money, but perhaps you have some tips to offer?

Originally Posted by DonW

my fear is that I will just be in the bars too much if I dont have a project of sorts.

If you already know that about yourself, why would you want to effectively retire in Thailand? You'll be through that money quick enough through bars and people you meet in them (especially if you're not working) and you have many years still to fund if you're only 38 now.
TOAC's advice about investments is sound, but only if you rent and don't touch the capital. Also ensure they are safe investments.
My advice?
Find yourself a project in the UK - or Europe if you like - make more money and come to retire in Thailand in 15-20 years' time. It'll still be there.

Originally Posted by Thinkingofachange

Anyway, is the 1million net worth liquid? You could easily put that in a mix of corporate and municipal bonds and earn an average of 6.5% p.a., giving you $65k to live on

Before the economic crisis hit I used to get interest from the bank at almost 7% p.a., calculated daily, paid monthly. And I only had 5k. I could withdraw cash as often as I wished. Nowadays, my interest dropped to 4.5%. Much simpler than putting in a mix of corporate and municipal bonds. And also zero risk.

Originally Posted by paully

Find yourself a project in the UK - or Europe if you like - make more money and come to retire in Thailand in 15-20 years' time. It'll still be there.

But it'll have changed a lot by then.