Afaik the vanguard funds have a minimum investment of 3000 USD
So he would need to invest around 100k to start. Is he willing to lock up his entire savings account like that?
Afaik the vanguard funds have a minimum investment of 3000 USD
So he would need to invest around 100k to start. Is he willing to lock up his entire savings account like that?
Originally Posted by colmx
Oh, there's a $3000 minimum investment? Didn't know that. Haven't talked to him about it today, although did briefly last night, and I'm sure it's fine, especially if he sees he'll be getting a much better return than a typical savings account. He treats that money as though it doesn't exist, and doesn't need it for anything, as that's what I'm for.
His only plans for that money is to buy a motorbike once we get to Vientiane, but I think I'll just surprise him, and buy it for him. I think a decent bike is about 70k, right? I'm not rich or anything, but I'll be able to swing that.
Then more I think about it, the more I want him to put it into a fund of some kind, and Vanguard I think is a pretty safe bet with low management fees. That way, when he gets a "brilliant" idea of how to use the money, it will take him at least a few days to access it, giving him some time to second guess himself, and ensure that's what he wants to spend it on. That, and it'd just make me comfortable knowing he has a little nest egg tucked away for himself in case something ever happens to me.
Have you not already provided some form of safety nest egg for your "husband" - how very remiss of you, I think I'd be doing that "just in case" before blowing money you may or may not have depending on if clients have paid you or not on a motorbike for him perhaps. If something happens to you, who's looking after the dogs, have you not discussed this !? And assuming it's him have you not left suitable funds to ensure he can manage to afford that without plunging the poor Thai boy back into poverty and him having to delve into his OWN nest egg just to feed YOUR dogs ! Yes very remiss of you indeed, perhaps it's YOU who needs advice on financial planning and not your Thai / Lao non husband !?
NIrish, you seem to be under the assumption everyone is as rich as you. I'm not rich right now, so no, I don't have a nest egg setup for him. Not to mention, we've only been together for about 15 months, so it's still fairly new relationship, albeit strong.
Currently, the nest egg he has is the 100,000 baht he has in his savings account, and that's it. I don't have extra money to shower him with right now. Maybe later I will, but not right now.
He fully understand our financial situation, and is more than fine with it. He gets a bit of spending cash as money comes in, and he knows that. He's an excellent saver, and when he goes back to Laos, he always puts whatever extra money he has into his savings account.
You’ll never have read any post from me where I claim to be rich or anything remotely close, just getting by comfortably like most other people.
And re your only just together 15 my god make up your mind man as a minute ago you were married and if married then I would have thought it would be your very FIRST action to ensure he was looked after in case anything happened to you. To me my husbands security would come well before a motorbike for instance.
Yeah, it's about as strong as human relationships get.
And he's going to be buying a motorbike regardless of what I say or do. Not up to me. So I figure I'd rather him use my money to buy it instead of his own savings, that's all.
The best Tip you can give the kind of guys I see around Pattaya and Jomtien is NOT to buy motorbikes on borrowed money.
I’ve recently been told that loan defaulters go to jail in Thailand.
As regards tips on investments I recommend something very long term like mining rare metals on Mars which will allow them space and time to come up with their 5th share of the 2000 baht room rent charge payable at this month’s end.
Oh no, there's absolutely no debt allowed in my life again. I just won't do it. If we want something, then we can make and save the necessary money to but it outright, and that includes a house. I will never get a mortgage in my life.
I actually had to explain this to Leo a while back. He's under the assumption that we're really poor, and everyone else is rich. I had to explain to him that no, they may look rich to you, but in reality about 95% of the people out there are up to their eyeballs in debt. Do you really want a 50,000 baht/month bill to the bank, 30% of which is interest? Probably not, and don't worry, we probably have more cash on hand than most people, although we may live like we're poor a little more than others.
I remember I watached a news reports a while back, and a news organization did a polling of a large number of people in the US. Turns out, about 70% of Americans don't have an extra $500 on hand in case of emergency.
I think the estimate here in Ireland is that most people are only 4 paydays from homelessness. I don't how true that is.
Since there's free financial advice on offer I might as well chime in with a question. In 3 years I will start to receive a modest pension (currently worth about €28,000). I can take about €3000 as a cash lump sum, and have the rest invested in an annuity. What's that, and is there something better I could do with that money?
Hitchhiking's more of a challenge on the road less travelled.
Hosannas! A small smidgen of good sense has finally leaked out of Cndmatt.
When I retired in 2007 I got rid of my last hanger-on of debt. In my case that was on a credit card.
I still have CC's for potential and unexpected horror stories but I've yet to meet one head on.
Looking back on my freedom, I'm absolutely certain that having a great retired life in Thailand (or anywhere for that matter) is best attained by having zero debt, and staying that way forever.
This advice, for what it's worth, of course does not include the filthy rich, just folks like me ... never rich, always comfortable. No dogs, but good eyes.
Just another reason why I love living in Thailand
christianpfc (November 18th, 2017), dinagam (November 16th, 2017), joe552 (November 16th, 2017), snotface (November 16th, 2017)
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