Guest noy9000 Posted April 4, 2007 Posted April 4, 2007 Okay. Just a question for some people who may know, I'm 22 (so I'm totally new to these stuff - even though people may expect doctors to know them). Is there any other mode of insitution (or investments) where I can put aside a sum of money to wait for returns? something better than fixed deposit account? Quote
Guest BKKvisitor Posted April 5, 2007 Posted April 5, 2007 There are two answers: Yes, there are many alternatives to putting your money in a fixed account. No, you should not do any of them. I certainly wouldn't take advice from the many touts who'll tell you they know a sure way to "double your money in six months." Or any variation of that theme. Thailand is no place to learn investment skills. Investing money in the Thai stock or bond markets isn't particularly wise at this time. And if you think you can capitalize by speculating on currency values you deserve to lose it. If you're a 22-year-old with that much money that it needs management, you should consult a fee-only financial planner back home. The following link is worth reading by any potential investor: The World Bank on Thursday dropped its forecast for Thailand's economic growth in 2007 to 4.3 per cent, warning that confidence in the kingdom's investment climate has hit a historic low and must be restored to improve future prospects. http://www.playfuls.com/news_09_5346-World...nvestments.html Quote
Guest noy9000 Posted April 7, 2007 Posted April 7, 2007 There are two answers: Yes, there are many alternatives to putting your money in a fixed account. No, you should not do any of them. I certainly wouldn't take advice from the many touts who'll tell you they know a sure way to "double your money in six months." Or any variation of that theme. Thailand is no place to learn investment skills. Investing money in the Thai stock or bond markets isn't particularly wise at this time. And if you think you can capitalize by speculating on currency values you deserve to lose it. If you're a 22-year-old with that much money that it needs management, you should consult a fee-only financial planner back home. The following link is worth reading by any potential investor: The World Bank on Thursday dropped its forecast for Thailand's economic growth in 2007 to 4.3 per cent, warning that confidence in the kingdom's investment climate has hit a historic low and must be restored to improve future prospects. http://www.playfuls.com/news_09_5346-World...nvestments.html Thanks! I'm getting a-bit nervous with my bank account (I already have multiple accounts), and I'm constantly worried about some robbery (or etc.. forced break-in). 1 idea is to wire the money back home to my Singapore account - but the exchange rate is very unfavorable now; I'm gonna lose a great deal of money. Is there any other way to safe-keep the money in Thailand, other than the bank? Quote
Guest BKKvisitor Posted April 7, 2007 Posted April 7, 2007 You can always use traveler's checks issued in your home currency. If they are lost or stolen, you can get them replaced without cost. You don't, of course, have any control over currency changes, but if the baht retreats in value you will benefit. The exchange rate for TC is marginally better than for straight currency exchanges but you pay the bank 30 baht per check (plus a 3 baht government fee) per check cashed. Consequently, you're better off getting TC's in larger denominations ($500). I'd be very cautious when using credit cards. I restrict to hotels that I trust and major purchases established department stores. I would never use one in a restaurant. If you use an ATM, do so at banks and not simply some unbranded ATM you find on the street. Quote
