common expat mistakes
common expat mistakes feel free to add your own
investing a dangerously large percentage of capital in risky investments
no1 deciding to open a bar our restaurant with no previous catering our business
experience next to 20 our so other similar establishments
no2building a resort hotel in a poor location away from areas of interest just because the land was free from your partners family
no3purchase large amounts of gold for your beloved only to find out they have weighed it in to loan/give the brother in law / chauffeur / boyfriend / enough money to open a pig farm in the middle of a swine flu pandemic
no4overconfidence in making money and opening a business just because you have the money in Thailand to do it when you where not a successful entrepreneur in your home country
no5failure to make along term sustainable retirement plan factoring in health care costs which rise dramatically as you age
joining a plan in your late 40.s our early 50.s can pay dividends if you become seriously ill overseas
no6rent our buy this comes down to personnel choice but someone with a limited income post retirement age would be advised to rent rather then buy as rents are ridiculously low compared to buying which can drasticley your buffer of spare cash
no7 which visa this is best left to the experts to give advise and with visa laws
in Thailand changing constantly this information is best sought near to your arrival in Thailand
very old saying in Thailand there's only one way to make a small fortune in Thailand that's is to arrive with a big one and I wish i had one of those
please feel free to add your own and if its a good one i will add it to the list
expat udon thani blog
investing a dangerously large percentage of capital in risky investments
no1 deciding to open a bar our restaurant with no previous catering our business
experience next to 20 our so other similar establishments
no2building a resort hotel in a poor location away from areas of interest just because the land was free from your partners family
no3purchase large amounts of gold for your beloved only to find out they have weighed it in to loan/give the brother in law / chauffeur / boyfriend / enough money to open a pig farm in the middle of a swine flu pandemic
no4overconfidence in making money and opening a business just because you have the money in Thailand to do it when you where not a successful entrepreneur in your home country
no5failure to make along term sustainable retirement plan factoring in health care costs which rise dramatically as you age
joining a plan in your late 40.s our early 50.s can pay dividends if you become seriously ill overseas
no6rent our buy this comes down to personnel choice but someone with a limited income post retirement age would be advised to rent rather then buy as rents are ridiculously low compared to buying which can drasticley your buffer of spare cash
no7 which visa this is best left to the experts to give advise and with visa laws
in Thailand changing constantly this information is best sought near to your arrival in Thailand
very old saying in Thailand there's only one way to make a small fortune in Thailand that's is to arrive with a big one and I wish i had one of those
please feel free to add your own and if its a good one i will add it to the list
expat udon thani blog
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Comment
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Comment by john brook on August 4, 2009 at 11:56am -
lance sound advise such a big step in your life needs to be planned out in great detail there's a good old saying never keep all your eggs in one basket
its easy to look at the possibility's with rose colored specs but also look at what could go wrong and have a backup plan don't be another statistic
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Comment by Lance Nelson on August 4, 2009 at 11:05am -
excellent post - so true. I see loads of people go back or get replaced by locals. you really have to find your own profitable niche to survive. But do that with a stash of cash first or set up beore making any permanent relocation plans, Lance
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