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Where's your nest egg located: home country or Thailand?

View Poll Results: Do you keep most of your financial assets in your home country or in Thailand

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  • Home Country

    4 50.00%
  • Thailand

    1 12.50%
  • Elsewhere (None of the above)

    3 37.50%
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  1. #1
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    talking Where's your nest egg located: home country or Thailand?

    Having relocated to Thailand to work or retire, do you keep most of your net worth (eg money, stocks, bank deposits, bonds, unit trusts, real estate, precious metals) back in your home country or in Thailand?

    For retirees, what assets do you keep to generate the retirement income you are living off now? Do you receive a British pension, for example, as well?

  2. #2
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    Not Brit, But American labor unions pensions and SSA into a US bank and money transfers to Thailand when needed.

  3. #3
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    You seem to be mainly interested in high speed internet and money..

    So why do you want to move to Thailand??

    Most of the people I know moved here to get away from that kind of shit and just want to lay back and enjoy retirement.

    If you do not mind my saying so,,You do sound a lot like Toxin, and I hear he plans on moving to the USA to retire.

  4. #4
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    talking

    Quote Originally Posted by FaranginPhetch
    You seem to be mainly interested in high speed internet and money..

    So why do you want to move to Thailand??

    Most of the people I know moved here to get away from that kind of shit and just want to lay back and enjoy retirement.

    If you do not mind my saying so,,You do sound a lot like Toxin, and I hear he plans on moving to the USA to retire.
    Haha, let me put it this way, I dislike the fast-pace and urban life in Singapore, the USA and the UK, but there's no reason why I shouldn't tap into the wisdom of the First World to ensure that my life in the developing world will be secure. Simply put, I think proper financial planning and being in touch with the world are both important even if I move to Thailand. To merely survive in the fast-pace developed world, we need to do financial planning. We are trained to take care of our own taxes, expenses, retirement savings, etc. I don't think it's bad. I think it's a wise thing to do, so I am doing these to ensure that my relocation won't turn into a nightmare. Furthermore, I need internet connection to get in touch with my elderly parents, my siblings and my close friends. I like the relaxing pace of life in Thailand. They don't. Maybe they are just change-adverse. Broadband internet connection is the requirement for having regular video-conferencing with them over MSN Messenger.

  5. #5
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    Quote Originally Posted by I_Love_Thailand
    Having relocated to Thailand to work or retire, do you keep most of your net worth (eg money, stocks, bank deposits, bonds, unit trusts, real estate, precious metals) back in your home country or in Thailand?
    Why would you do either?

    There are a number of global banks that offer global services. Assets offshore, or move them around the world, keep in dollars, euros, sterling etc. No need to be provincial in your thinking!

  6. #6
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    Well if ya happy with your bank now, Why change??

    And if ya ain't then change to one you like, Internet banking can keep you on top of it anyway.

    Just because you gonna stay here long stay does not mean that you will ever be anything but a tourist on a yearly visa.

  7. #7
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    Quote Originally Posted by Peterg
    Why would you do either?

    There are a number of global banks that offer global services. Assets offshore, or move them around the world, keep in dollars, euros, sterling etc. No need to be provincial in your thinking!
    Well, I think it's one area that most users of banks don't quite understand. Many 'global banks' operate globally, but any given account you keep belongs to one branch and, as such, one jurisdiction. For example, XYZ bank may have branches in the US, the UK, Switzerland and Thailand. However, should you keep an account opened at a US branch, your money in the account is regulated under the US laws. In other words, since it's parked in the US, large transfers should be reported to the US authorities as required by the US laws. With the recent concerns over terrorism and money laundering, we know that the US, particularly, would be even tougher in scrutinising transactions from and to its banks.

    On the other hand, should you open an XYZ Bank account in its Swiss branch, then, your transactions are more free and, in fact, secretive. Bank employees can be jailed for simply disclosing customer particulars without any good reason as allowed under Swiss laws. Furthermore, the Swiss are certainly not as tough (or paranoid! ) as the US government regarding terrorists using their banks for terrorism-related activities.

    So, as we can see, even though XYZ is a global bank, where you opened your account does make a difference. Additionally, customers of US banks are not as free to keep deposit in foreign currencies, whereas those of Swiss bank accounts, for example, have much more freedom in terms of investing and saving in foreign currencies. With more choices over the currencies we invest in, we can have more flexibility in hedging against the risks of exchange rates. For example, we know that the US$ has been on the down trend in recent years due to many factors such as the large deficit. If we have the freedom to save in foreign currencies, we can, for example, save in US$, Euro, Yen and even New Zealand Dollar to spread the risk. We don't have to put all the eggs in one basket by solely investing in US$.

  8. #8
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    Might not bother you, but most labor union pensions can only be deposited at a US bank, and since paper checks are about a thing of the past [I wouldn't want my checks mailed anyway] and everything is direct deposit, there is just no way that you could have them sent here, or anywhere for that matter..
    And due to the fact that Thailand has no electronic routing system or numbers then you are screwed again.

    And as you said about rules, In the states every state has different rules,,maybe same name bank as the one in your home state but operates on different rules.

  9. #9
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    Quote Originally Posted by I_Love_Thailand
    Well, I think it's one area that most users of banks don't quite understand..........
    It's pretty obvious you don't understand, go check again, I suggest you start with the Hongkong and Scottish Bank Corp.

  10. #10
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    so happy!

    Quote Originally Posted by Peterg
    It's pretty obvious you don't understand, go check again, I suggest you start with the Hongkong and Scottish Bank Corp.
    What do you suggest I don't understand?

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