How do Thais save and grow their wealth?

[Beachlover]

I have a question, which some of you who've spent time with Thais outside the poorer working class might be able to answer...

How does a Thai who has a reasonably good income grow his wealth in Thailand? I don't mean Thais living hand to mouth on 6,000/month. I'm talking about Thais who make a bit more, say 20,000 to 100,000 baht/month, have good disposable income and want to save and invest for their future. What's the normal thing to do here?

In Australia, your average professional earning $60k-$120k/year can put money in the bank and earn 5-6% interest. After accumulating a bit you might invest it in a managed fund, open a trading account and buy some shares or buy property... that's the normal thing to do and if you invest wisely you can usually expect a decent rate of return over the course of your life. You also have a compulsory superannuation fund (I think it's called a 401k in the US). Basically, the idea is to accumulate and invest to grow your net wealth.

What sort of passive wealth creation vehicles are accessible to Thais in Thailand?

Let's say you have a young Thai who's earning 35,000 baht/month working as an engineer, accountant or doctor. Is he likely to be saving some of that?

If so, how might he invest it? Would he just have to stick it in a low-interest bank account or are there accessible, well-regulated passive investment vehicles like the share market, managed funds or other financial products Thais can invest in?

I'm just curious what the norm is...

[thonglor55]

Surely your hi-so Thai boyfriend in Sydney would be able to tell you?

Surely your hi-so Thai boyfriend in Sydney would be able to tell you?


Thonglor55,

You have a mouth like a pair of scissors! .................... :laughing3:

Can't imagine why he would think anyone here would have the slightest idea since he believes we only associate with the lowest class Thais.

[Beachlover]

Surely your hi-so Thai boyfriend in Sydney would be able to tell you?
When did I ever say my boyfriend was hi-so?

When did I ever say my boyfriend was hi-so?

Surely someone with your disdain for the lower classes would date nothing less.

Many Thais invest in property.

[cdnmatt]

From what I know, many also invest in expensive jewelery and precious metals. Gold, silver, gems, etc.

You can also ask the people in the West who were born between 1925 and 1940 how they gained wealth.
It's a comparable situation, I think. :headbang:

[Beachlover]

Many Thais invest in property.
Yeah, but I'm interested in knowing if some more affordable financial products/investment vehicles are accessible to middle-income Thais... the kind we have easily available in developed countries, like managed funds, stocks etc.

For example, I started putting my savings into managed funds when I was 16 and shares when I was 18... all this got me off to a great habit.

I'm curious about this so I'll ask and find out...


You can also ask the people in the West who were born between 1925 and 1940 how they gained wealth.
It's a comparable situation, I think. :headbang:
Is this true? If it is then, that's what I feared...

Yeah, but I'm interested in knowing if some more affordable financial products/investment vehicles are accessible to middle-income Thais... the kind we have easily available in developed countries, like managed funds, stocks etc.

Are you that dense or just incredibly lazy? A simple google search brought up the following:
http://www.ingfunds.co.th/EN/index.asp
https://www.aberdeen-asset.co.th/aam.nsf/thailand/fundsprices
http://www.kimeng.co.th/Funds.asp
http://www.eguide.co.th/TH/SEARCH/Mutual+Funds+Companies/1

Imagine how much information I could have turned up if I had spent more than 10 seconds searching.
It beggars belief that some who is so "smart and good in games" couldn't have figured out such a perplexing puzzle.

[thonglor55]

It beggars belief that some who is so "smart and good in games" couldn't have figured out such a perplexing puzzle.Who claims to be, Once In A While, who claims to be. The reality however is ...

[giggsy]

THE RECESSION HITS AMERICANS

You get a pre-declined credit card in the mail.

Wives are sleeping with their husbands because they can't afford batteries.

CEO's are now playing miniature golf.

Exxon-Mobil laid off 25 Congressmen.

A stripper was killed when her audience showered her with rolls of pennies while she danced.

I saw a Mormon polygamist with only one wife.

If the bank returns your check marked "Insufficient Funds," you call them and ask if they meant you or them.

McDonald's is selling the 1/4 ouncer.

Angelina Jolie adopted a child from America .

Parents in Beverly Hills fired their nannies and learned their children's names.

My cousin had an exorcism but couldn't afford to pay for it, and they re-possessed her!

A truckload of Americans was caught sneaking into Mexico .

A picture is now only worth 200 words.

When Bill and Hillary travel together, they now have to share a room.

The Treasure Island casino in Las Vegas is now managed by Somali pirates.

Congress says they are looking into this Bernard Madoff scandal. Oh Great! The guy who made $50 Billion disappear is being investigated by the people who made $1.5 Trillion disappear!

And, finally...

I was so depressed last night thinking about the economy, wars, jobs, my savings, Social Security, retirement funds, etc., I called the Suicide Hotline. I got a call center in Pakistan , and when I told them I was suicidal, they got all excited, and asked if I could drive a truck.

[thonglor55]

For those who want to understand how business really operates in Asia, and how Thais and others might therefore think of investment options, there's no better resource than Michael Backman's Asian Eclipse (http://www.amazon.com/Asian-Eclipse-Exposing-Business-Revised/dp/0471479128/ref=sr_1_1?ie=UTF8&s=books&qid=1303953073&sr=8-1), a review of the 1997 economic crisis, country by country.

Surely you are not suggesting Beachlover actually read something for himself? The absolute cheek!

[thonglor55]

Surely you are not suggesting Beachlover actually read something for himself? The absolute cheek!I did say "For those who want to understand how business really operates in Asia ...". I'm sure that Beachcrest is still distracted by the vision of his legs during that famous ONS and has no inclination to do his own research.