Gaybutton Posted February 27, 2008 Posted February 27, 2008 The exchange rate has become even worse. This morning the exchange rate opened at 32.02 baht per dollar. The closing rate today was 31.95. That is nearly 35% less baht per US dollar than the rate that held steadily for many years at 45 baht to the US dollar. And, of course, Thailand has been going through a period of inflation, which makes things even worse. I notice significant differences in food and fuel prices. For example, two months ago a simple container of yogurt was 10 baht. Now it's 13 baht. That might not seem like a big deal, but it's greater than a 30% price rise, and a lot more than just yogurt has gone way up in price. Where will all this end? When will the exchange rate turn around? Quote
PattayaMale Posted February 27, 2008 Posted February 27, 2008 Aother way to look at it: Those Americans on pension making $6000 a month, is like living on 3900 a month. Hard to explain to the Thai boy friend Quote
Guest laurence Posted February 28, 2008 Posted February 28, 2008 It is, of course, those Americans who need to live on retirement income 2-3 thousand US per month are in real trouble. But then they have nobody but themselves to blame for not planning their retirement properly. Thank you LP! Nothing like a kick in the balls when you are down and out. Quote
Gaybutton Posted February 29, 2008 Author Posted February 29, 2008 The exchange rates for Friday, February 29 are as follows: Opening Rates: US Dollar: 31.74 Euro: 48.035 British Pound: 62.94 Australian Dollar: 29.7925 Canadian Dollar: 32.27 And, since LP is recommending Japanese Yen and Swiss Francs, those rates are: Yen: 30.1975 Swiss Franc: 30.025 At the end of the business day today, I'll edit this message and post the closing rates. ****Closing Rates**** US Dollar: 31.78 Euro: 48.195 British Pound: 63.02 Australian Dollar: 29.83 Canadian Dollar: 32.30 Japanese Yen: 30.31125 Swiss Franc: 30.15 ******************** LP, what are your thoughts on the Chinese Yuan? I obtain the exchange rates from the Bank of Ayudhya web site, but they don't list the rates for the Yuan. Quote
Guest laurence Posted February 29, 2008 Posted February 29, 2008 In other words, even in terrible envornment like now, there always ways to hedge the trouble... I am one of those guys who retired early (no regrets) but do live on a limited budget as do many others in Thailand. One smart thing I did was buy gold coins at $500+ a couple of years ago and now they are $1000+. The dumb thing was selling that Exxon stock when gasoline was $1.50/gallon! Quote
Guest fountainhall Posted February 29, 2008 Posted February 29, 2008 Let's not forget something. If most of your expenditure is going to be in Baht, another way to increase income is to use some of the Baht you remit in to the country to invest in funds here in Thailand. Anyone who invested in a Thai growth fund 4 years ago would have made well over 100% profit in that period. Granted, that was just the market finally getting out of the doldrums of the 1997 recession. But even in the last 12 months when the stock market has had major fluctuations, many funds are returning 15% plus. What is the point of getting under 3% - 4% in your overseas bank and even less in banks here here when, with a bit of research and diversification, you should be able get a return far higher than that? Think about putting aside a few thousand Baht each month into one or more funds. Quote
Gaybutton Posted February 29, 2008 Author Posted February 29, 2008 However, let us not forget that we are talking about retired people on a quite limited income who definitely cannot afford risky investments. I agree with that. Obviously not everybody has the means to be risking money on investments or even enough money to make an investment at all. But for those who can, good suggestions are being made on this thread. Quote
Guest fountainhall Posted March 1, 2008 Posted March 1, 2008 let us not forget that we are talking about retired people on a quite limited income who definitely cannot afford risky investments Totally agree. But if you are living mostly on a pension and your income is coming in the form of US$, does it not make more sense to try and get as much of that into the currency you will actually be using? If you can afford 2 or 3 thousand baht a month and put this into two separate funds on a monthly basis, you greatly reduce that risk through averaging. And my gut feel is that you will gain more than you will by holding a currency that, according to most pundits, has a lot further to fall. Remember, too, that investment funds here are not all based on Thai stocks. Quote
Guest farangfriend4u Posted March 8, 2008 Posted March 8, 2008 All this is fine and good. But what about those of us in our late 30's and early 40's who work here as teachers in the land of smiles? 13 years ago I made a career change from retail (10years), which I was never completely happy with, to TEFL, which I really love and enjoy. Been in Thailand for 6 years now. the exchange rate is helping me funnel money back to the states to pay of some outstanding credit card debt. But I have not been able to put any money aside for retirement in the last 13 years. It is beginning to scare the hell out of me. I love teaching. I am not one of those expats teaching here just to maintain a visa and support my "night/love" life. This is truly my career now. I love it and I love living here. but what will happen to me in my golden years? Any advice from the gurus here? I am scared of becoming a homeless retiree. Quote
Guest farangfriend4u Posted March 9, 2008 Posted March 9, 2008 LP, thanks for your comments. I am always hoping to here some advice on the matter. Quote
