A double 'whammy' in Pattaya, Thailand
If you're living in Pattaya now, or even planning a holiday, NOW is the time to prepare yourself for a
Food, hotels, utilities, so on have all seen rising prices--some significantly.
A few Walking Street bars, for example, are pushing drinks to 140B and bar fines to 700B!
And real estate prices continue to rise, in spite of STAGNANT rents (fortunately).
Add in a STRENGTHENING Baht against most Western currencies (Euro, USD, Pound, AU$), and you have a serious issue.
Especially for the typical 'fixed-income' expat or the 'budget traveler' here for his annual stretch which may be cut short
because of finances.
So, what to do?
1) If you're visiting for a week, don't worry, have a good time.
Just bring a little extra--MOST things are still inexpensive by your home country.
2) Planning to or living now in Pattaya requires different decisions.
You have to face reality. Prices have increased and will PROBABLY continue to do so--AND your currency (in particular, Pound
and Euros) look to continue to fall.
(See this link for currency charts-- http://fx.sauder.ubc.ca/plot.html )
Make a plan NOW to either CUT your expenses or INCREASE your income.
And if you're pensioner with 'no inflation' adjustment, you're in TROUBLE!
See Issues #101 and #102 of this newsletter where I discuss money: Newsletter Archives
3) Regardless of whether your living for in Pattaya for a couple of months or lifetime 'prepare thoroughly' your
Use the 25% formula that I've mentioned before which means withdraw ONLY 4% annually (inflation-adjusted) of your nest egg. No
This will virtually guarantee you'll outlive your money with conservative investment portfolio.
Moving to Pattaya does NOT guarantee happiness, BUT having little or no money here guarantees UNhappiness.