Financial Advisor Scott Jordan is Making Money Moves in Pattaya

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A five-minute airport chat solved a problem months of Googling couldn’t—and that’s the spark for this episode. We dig into the real value of financial advice for expats: not market predictions or magic returns, but structure, tax efficiency, and a plan you can actually live with when headlines and volatility hit. We talk through emergency funds, compounding, and why “being in the right wrapper” matters more than chasing last year’s winners. If you’ve ever wondered what you’re paying for—and whether it’s worth it—this conversation lays it out plainly.

We also get specific about life abroad. Scott shares how joining local clubs and expat meetups isn’t networking theater; it’s where honest stories surface and better decisions follow. We compare scalping trades every three minutes with managed portfolios that quietly outperform while giving you evenings back. Behavior sits at the core: some of us save everything and never spend; others live like every night is Saturday. Cash flow modeling helps you find the balance—what it costs to fund your present and still reach the future you want.

For UK expats in Thailand, we flag rumblings around national insurance on rental income, capital gains tweaks, and inheritance tax changes—including the 2027 shift pulling unused pensions into estates. Pair that with Thailand’s evolving visa rules and AI-driven scrutiny of bank transfers, and the message is clear: stay informed, stay compliant, and be ready to pivot. No panic, just preparation.

If you’re managing everything on your own, consider how much time you want to spend refreshing charts and reading tax PDFs. If you’re already invested, check that your structures still serve your goals as policies change. Listen, share your biggest money blind spot, and if this helped, subscribe and leave a review so more expats can find their footing.

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Episode Transcript

SPEAKER_05 (00:00):
Hello guys and welcome back to my tie wife
podcast.
I'm Mike.

SPEAKER_02 (00:05):
Emily.

SPEAKER_05 (00:06):
And Scott is back again.
We got endorsement from RedBull.
I think so.

SPEAKER_03 (00:12):
Passer by.

SPEAKER_05 (00:13):
Yeah, we're joking.
No way.
They don't even know we exist.
How are you doing, buddy?

SPEAKER_01 (00:19):
Yeah, good man.
How are you?

SPEAKER_05 (00:21):
I'm doing okay.
Had better weeks.

SPEAKER_01 (00:25):
Yes.

SPEAKER_05 (00:25):
But it sounds like I'm always complaining, so I'm
doing great.
You know what?

SPEAKER_01 (00:29):
Yeah, no, that's good.

SPEAKER_05 (00:30):
It's the first time you guys met.

SPEAKER_01 (00:32):
Yes.
Yeah.
So I've watched.
Have you watched episodes withme in it?
Exclusively.
Okay.
No, I was gonna say I've watchedepisodes that you've done with
Ellie.
But we've never met before.

SPEAKER_05 (00:50):
So we didn't have the opportunity.
Although she always wants to goout with us, but it's always the
days that we are not going outfor some reason.

SPEAKER_01 (01:00):
You don't want to go out of us anyway.

SPEAKER_03 (01:02):
Yeah, normally like if you call me last minute,
mostly I'm not show up.

SPEAKER_05 (01:07):
Nah, come on.
So we are doing a bit of abusiness episode again, as we
said, because there are someupdates from Scott that I think
are worth your time.
And I know the last one wasactually the last one we did
with Guillaume was very popular.

(01:28):
I know many people liked it, andI think we are giving them like
a real information about what'sgoing on here.
So that's cool.
And Ellie don't know what you'redoing.

SPEAKER_03 (01:42):
Yeah, we have a couple of it.

SPEAKER_05 (01:45):
Okay, so you know in general.

SPEAKER_03 (01:47):
Yes.
Okay.
Kind of different thing, but uhwould you similar.
Okay, wait, wait, wait.

SPEAKER_05 (01:54):
So his title, right?
Is let's say, how would you callthat?

SPEAKER_01 (02:01):
Financial advisor.

SPEAKER_05 (02:02):
Okay, thank you.
I forgot for a second.
Would you use one if you saidlet's say you had like millions
and millions?

SPEAKER_03 (02:10):
Of course.

SPEAKER_05 (02:11):
Yeah?

SPEAKER_03 (02:11):
Yeah.

SPEAKER_05 (02:12):
Why?
Why do you think you need itmore than like deciding
yourself?

SPEAKER_03 (02:16):
Uh so I can't I don't have to think by myself.
Okay, so like let's work, youknow.

SPEAKER_05 (02:22):
Okay, so you're outsourcing your brain to
someone else.

SPEAKER_03 (02:25):
Yeah, it's like throw my problem to someone out,
come back.

SPEAKER_05 (02:28):
Okay, but he is probably more like this is his
expertise, right?
This is what you're expert on.

SPEAKER_01 (02:35):
No, that's like that's good to hear because a
lot of people try and do itthemselves.
And I'm not sure if I said inthe last episode, but um, you
know, if something breaks inyour room, in your bathroom,
yeah, yeah.
You ring the plumber to come anddo it.
I can have a go, but I mightfuck it up and then end up in a

(02:58):
worse situation.
So with most stuff, I just paysomeone to do yeah, but she just
said to your help because she'slazy.
That's different.
But that's but that's the otherside of it as well.
Some people don't want to, theycan't be bothered.
Okay, it's the same as ifsomething breaks and you need a
plumber.
Like, can I be asked to do it?
You know, is it is it worth mytime?

(03:21):
You know, everyone's time'svaluable.
So you've got to weigh up.
Do you want to spend all thistime doing it?
Or do you just want to paysomeone else to do it?

SPEAKER_05 (03:29):
No, but I think there is like a component of
excitement a bit when you'redoing it yourself.
I'm not saying I'm against whatyou do, I'm just saying like
it's a bit more exciting.

SPEAKER_03 (03:39):
I actually agree, agree on with him though.
Example, like uh, okay, likewhat you say, like the prom the
problem with break.
Sometimes you can go on YouTube,try to do it yourself, but how
long you're gonna need to learnto do it yourself, right?
But then if you can need theright tools.
Yeah, if you if you already knowthe professional that can do it
right away, then why not, right?

SPEAKER_05 (03:59):
Yeah, I agree with that.

SPEAKER_03 (04:00):
Yeah, I answered for my listening, it's just a joke,
to be honest.
I'm happy.

SPEAKER_01 (04:05):
No, you have great brain.
So like I had um one one of myfriends um who's coming out here
in a few days, actually.
Um last time we came out here,he's been racking his brains,
trying to do so.
He he manages everythinghimself.

(04:25):
Um his own pension, hisinvestments.
How old is he?
He's uh sort of late 50s.
Okay.
Um but he he does everythinghimself, manages everything
himself.
Um but he he's got stuck becauseof how much he's earning.

SPEAKER_05 (04:43):
When you're saying got stuck, what do you mean?
Like he's not making money?

SPEAKER_01 (04:46):
No, no, just he's he's got an issue um to do with
tax and how much he's earningand and stuff like that.
Um and then we we were comingout here and we met in the
airport and sat down, had adrink, five minutes of talking,

(05:07):
I'd come up with a potentialsolution for him.
Okay, and he was like, he waslike, fuck me, I've You would
never sing about that.
He was like, I've looked onGoogle, you like YouTube, like
I've I've looked everywhere asto what I can do.
And he said I've sat with youfor five minutes and you've
you've told me what to do.
So even people that you knowthere's there's always stuff

(05:31):
that you don't know that thething is, like with Google and
stuff, if you search forsomething, it will tell you what
you want to hear.
So if you search somethingspecific, it will come up with
that thing, but it won't giveyou broader advice as to well,
have you thought about this?
So that's generally what a lotof people do is they'll Google

(05:52):
something, and uh the biggestone I always used to get was
about trusts and people saying,I'll just stick it in a trust,
and you'll see people on YouTubeor TikTok talking about trusts,
and it's not as it's not assimple as that.
So if if you Google, can I putthis in a trust?
Google will most likely say yes,but it won't give you all of the
finer details as to you knowwhat the implications are of

(06:16):
doing it or what the drawbacksare of doing it, it's not just
uh okay, we we just wrap it upnow and it's fine.

SPEAKER_05 (06:22):
Okay, there's so um, so yeah, like with that example
with him, it he was like Yeah,but you have years of
experience, so yeah, yeah.
This is basically what peoplepay for, they pay for your
experience.
There is a really nice sayingthat I like that's some people
are so like proficient at whatthey do, so it takes them five

(06:44):
minutes to do something, andthen they ask to be paid like
let's say$1,000.
People say, Why do I need to payyou$1,000 for five minutes?
He said, You're not paying forthe five minutes, you're paying
for the years of experience Ihad before that allowed me to do
that in five minutes.

SPEAKER_01 (06:58):
Yeah, I've I mean I've seen these things on
Facebook and stuff in the pastwhere people have um complained
about tradesmen, so like abuilder or something like that,
and they've broke it all down,uh, like you said, and said,
Okay, well, look, right, if youwant to do it yourself, then all
right, you need a van.
Have you got a van?

(07:18):
No, I haven't got a van.
All right, well, we need to gobuy a van first.
That's 30,000 pounds orwhatever.
And then, all right, have yougot any tools?
All right, we'll go down and getsome tools, right?
Then we'll buy the materials andthen and then have you ever
built a brick wall before?
No, I haven't.
Oh, well, we're gonna have toteach you, so you have to pay
for me to teach you.
And it it's it's exactly thesame in any any job, yeah,

(07:38):
really.
Like, I've got the tools to beable to do it, I've got the
experience, I've got theknowledge to do it.
So that's exactly like you say,why why you go to professional.

SPEAKER_05 (07:49):
But I think uh I'm not sure.
Uh I might say something wrongnow, but when you get paid off
uh when you're doing your job,yeah, you're getting percentage
on successes, right?
Only.

SPEAKER_01 (08:04):
No, so there'll be um it depends on what you're
doing in particular, but we'llget paid up a percentage up
front commission to do the work.
Okay.

SPEAKER_05 (08:18):
Um and this this percentage comes out of like how
much money entirely this guywants to invest.

SPEAKER_01 (08:27):
Yeah.

SPEAKER_05 (08:28):
Okay.

SPEAKER_01 (08:28):
Yeah, so it's generally a percentage of the
investment.
Um and then but it comes out ofthe investment as well.
Okay.
So um yeah, that's how thatworks.

SPEAKER_05 (08:44):
And then that's interesting for me because uh I
always wondered like how thosethings work, right?
I know like a salesman orwhatever, they get percentage
after the sale, right?
Not before.

SPEAKER_01 (08:57):
So um, yeah, I mean it's the thing is we're given
advice on where stuff should be.
Um obviously we want stuff toperform well in the markets, but
that's not guaranteed.
So we're given advice on whereyou should be, what's the best

(09:18):
thing for you.

SPEAKER_05 (09:20):
But in one year, if the markets go down, you can't
crucify me for that becausethat's yeah, of course, but then
it's a very general thingbecause the whole market went
down, right?
Yeah, yeah.
It's not only you, yeah.
But I I do think you are beingevalued by your successes.
Yeah, yeah.
Like what percentage?

SPEAKER_01 (09:41):
Yeah, I mean that's that's part of it.
Um I just have conversations inthe UK about with people about
this.
It's not just performance, it'sabout choosing the right
product, okay, the the rightthing for your money to be in.
Um for tax efficiency, for youknow, if it's gonna be passed

(10:02):
down to your children, all thatsort of stuff.
So it's no it's not um there'sno point in you making really
great returns, greatperformance, if when you come to
sell that investment down,you're gonna pay a fuckload of

(10:23):
tax.
Okay.
Like you've been put in thewrong vehicle in the first
place.
So it's it's more about that andchoosing the right um the right
solution, not justperformance-based.
Obviously, everyone wants tomake as much money as they
possibly can.

SPEAKER_05 (10:40):
Yes, but as you said, if at the end one guy made
one million dollars, but he paidhalf of it in taxes, and the
other guy just made 700,000, buthe pays only a small percentage,
of course.

SPEAKER_01 (10:51):
Yeah, exactly.
So um, so yeah, it's it's moreabout that as opposed to just
being like performance led.
Um, but I forgot what to saynow.
I don't know.
I had it, I was like, I wasready to go.
Sorry, sorry, I cut you off.
No, no, no.
That was my fault.
Um so yeah.

(11:13):
Okay, that's it.

SPEAKER_05 (11:14):
I'm done.
I know since you last timeyou've been here, you had like
on this podcast, you had fewclients.
I know now we have a bit more,and I know now things are start
to move in the right direction.
And first of all, I want to saythat part of it was because of
some advice that you got of likejoining clubs here, yeah, yeah.

(11:38):
Right?
So, this is a goodrecommendation in general for
people that want to come hereand meet other people and maybe
get some connection through it.
Like, I know you joined a poolleague, yeah.
I know you're doing a lot ofgolf right now, and what more?

SPEAKER_01 (11:56):
Um that's about it.
I'm still trying to do otherthings.

SPEAKER_05 (12:00):
Oh, there was the expat uh yeah, there's expat
meetings as well.

SPEAKER_01 (12:06):
Um horse riding, possibly sailing.
Just you've just gotta putyourself out there.
If you're doing a similar sortof job to me out here, or if you
just want to meet people.
Yeah, yeah.
Um you've just gotta get you'vejust gotta go and get out there.

(12:27):
There's loads of things to do.
We we did a podcast about thisbefore, didn't we?
There's loads of things that youcan do here, and pretty much
everyone's in the same boat thatthey've come here on their own.
I've not I've not met any expatsout here, I don't know about
you, that's that have come outhere with a family with a group.

SPEAKER_05 (12:46):
With a group of friends, or you mean a family?

SPEAKER_01 (12:48):
Oh, yeah, yeah, yeah.
Like um, so yeah, like group offriends or family.
Like I've I've not met anyonewhere it's like, oh yeah, four
of us from back home all decidedto move to Thailand.
It's it's always it's always oneperson.
So every everyone at some pointhas been the new person, and
you've had to go to a club andit's like first day of school.

SPEAKER_05 (13:10):
Yeah, but most of the people meeting me and
meeting here in the bars, yeah,and those connections are not
like yeah, me and you met in abar, and that's was very
successful, right?
And Michelle and also Ellie, butmost of the people that you meet
in the bar.
No, no, really.

SPEAKER_03 (13:25):
I didn't say anything.
Come on.

SPEAKER_05 (13:27):
Actually, in the same bar, we all met in the same
bar.
I met her there also.
Oh, right, okay in delirious.

SPEAKER_03 (13:33):
In my career, it's like, why the hack women go
there?

SPEAKER_01 (13:40):
We've all met each other in delirious.
Yeah, you get yourself downthere.

SPEAKER_05 (13:45):
No, but I I mean most of the people that you meet
in the baths, most of them likeour bow friends.
It's not like friend friends,you know.

SPEAKER_01 (13:55):
Yeah, that's the thing.
And we've got the saying there'speople that you'll see on a
night out that you'll say helloto and how are you and have a
quick little chat.
Yeah, but you won't do anythingelse, whereas we see each other
pretty much every day.

SPEAKER_05 (14:11):
We just do now, less and less for some reason.
I'm sorry, but no, it's my faultalso.
Come on, the last week, it's myfault also.
Yeah.

SPEAKER_01 (14:22):
But um they do tell you.
I've got a girlfriend now, soI've like gone completely off
grid and no one sees me.

SPEAKER_05 (14:30):
I told you before he had a girlfriend, I didn't tell
you he got off grid.

SPEAKER_03 (14:34):
Oh yeah, he didn't tell me the full story.

SPEAKER_01 (14:36):
I'm not completely off-grid.
I'm not, I'm not one of thoseguys.

SPEAKER_00 (14:41):
I still I still remember my friend.
Oh, thank you.

SPEAKER_05 (14:44):
That's very romantic.
Yeah, but he's a bit but uh, youknow what?
That's also a good thing ingeneral.
I uh we will get back to thefirst conversation, but I want
just to say that sometimes whenwe stay, we spoke about it many
times when we do the same thingsover and over and over again,

(15:04):
it's getting really tiring, it'sgetting really you're getting
overwhelmed by the drinking orwhatever the same faces you see
every day or the same places yougo.
And I think it's a good thingthat now you took like a break
from it because I knoweventually I'm not saying you're
going to get tired of therelationship, that's not what I

(15:24):
mean.
I mean that eventually you willsay, Okay, I feel I'm ready to
go out more again.

SPEAKER_04 (15:30):
Yeah, yeah.

SPEAKER_05 (15:31):
Yeah, I think not necessarily with hell together
as a group.
Yeah, yeah, you probably willseparate just because this is
how normally a relationshipworks.

SPEAKER_01 (15:40):
I it's not always go I don't want to separate,
brother.
What do you mean?
No, not separate with her.
I knew what you meant.
Oh, fuck you.

SPEAKER_05 (15:50):
You just started by saying, I mean, you will
separate because that's howrelationships go, and you'll
definitely no, I'm not like someother guy that sent a message to
your girlfriend or whatever.
Which I will not name again.

SPEAKER_03 (16:06):
Okay.

SPEAKER_01 (16:08):
But yeah, anyway, so but no, we were talking about
the other day, wasn't likegroundhog day.
I got that to one stage here,and it was just sleep all day,
wake up at the same time, it wasdark.
I'd get have a shower, getdressed, go down, get on a
motorbike taxi, and I'd besitting on the motorbike taxi

(16:31):
like it feels like five minutesago since I was doing this,
yeah, doing this yesterday.
It's just disappeared, and it'sjust and in the same bars I was
like, it's just it's yeah.
So but no, the the bars are goodto meet people.
But if you want more of ameaningful relationship, yeah,

(16:51):
probably look somewhere else.
Friendship.
There's lots of things to doover there, isn't there?

SPEAKER_05 (16:55):
So yeah, um back to the first conversation, the one
we gather here for, right?
So now you have more clients.
Do you feel like how howrealistically, how many clients
can you have without one, yes,yeah.

SPEAKER_01 (17:16):
Probably um a hundred households.

SPEAKER_05 (17:22):
Okay.
That's still a lot.

SPEAKER_01 (17:24):
Yeah.
So that's that's what I sort ofhad in the UK.
Um looking at that.

SPEAKER_05 (17:30):
That means all day you're on the phone and doing
stuff.

SPEAKER_01 (17:34):
Yeah, yeah, you're really busy, so you're
constantly doing meetings.
Um because like you were sayingearlier about how do I get paid
and stuff, there's like anupfront cost for the initial
advice, but then we charge likean ongoing advice fee, which
gets paid throughout the year.

SPEAKER_05 (17:54):
This is how it's called advice fee.
Yeah.

SPEAKER_01 (17:56):
Really?
Okay.
Yeah, so like an yeah, ongoingadvice fee.
Um and that's so I come see youevery year, minimum once a year,
to talk about how it'sperforming and if anything's
changed.

SPEAKER_04 (18:12):
Okay.

SPEAKER_01 (18:13):
I don't know if I said it in the last one.
I'd say to people, look, it'sminimum once a year, but if you
need two, then we'll do two.
Um if something comes up, youknow, changes circumstances,
good or bad, then you know,we're sort of there to to help

(18:33):
you.
Sorry.
If you're concerned aboutsomething, I'm on the end of the
phone, email, text, whatever.
Okay.
So it's an ongoing servicethat's provided, and that's and
that's what you're paying for.
That's generally quite a lowpercentage.
Okay.
Um, but yeah, it's it's a it'san ongoing thing because I mean,

(18:55):
my old boss used to have thissaying like, not much changes in
financial services, but we canguarantee that people's
circumstances will change,someone will die in your family,
and you might inherit, or youmight have an illness or
something that changes yourcircumstances, you know.
You might get a good promotion,or you know, anything.

(19:20):
Like we know your circumstancesare going to change throughout
life, and so we are always thereto be able to step in as soon as
it happens.
Whereas some people, you know,someone might pass away, they
inherit some money, and theyleave it five years before
getting in touch with someone todo something about it, it's just
sitting in the bank doingnothing.

(19:40):
So if you've already gotfinancial advisor, as soon as
these things happen in your day,it's okay, call him.
Uh this has happened, I need tospeak to you about it.
Okay, great, let's see what wecan do.
Um, so yeah.
And you're always kept up todate with stuff.
Say again, you're always kept upto date with stuff as well.

(20:01):
So, because that's our job.
So, um, yeah, I used to getpeople ringing me up because
they'd seen something on thenews.
There was a particular guy onthe telly in England that would
say something.
He had like a like a kind ofmoney programme.
Okay.
Um and then everyone and peoplewould people would uh watch it,

(20:25):
generally older people, um, andagain, like Google would would
see the good bit and go, ohgreat, oh well, we've watched
we've watched this guy on thetele, and he said we can do
this.
You know, yeah, no, no, youcan't.
You know, you didn't listen toall the other little bits that
he said, or possibly missed out,or you know, he's probably said

(20:48):
some people are eligible forthis, and people just watch it
and go, Oh yeah, that's me.
So um, so yeah, I'd have peoplering you me or pull something
saying, Oh, I've seen this onthe news or on this TV
programme.
Okay, yeah.
And just put it to bed likestraight away.
Um and for some people that justpeople just need that

(21:08):
reassurance.

SPEAKER_05 (21:09):
Okay.

SPEAKER_01 (21:10):
That I've seen this, seen this in the news and
panicking is everything I wouldlike, is all my stuff.

SPEAKER_05 (21:15):
I I think if I would have financial advisor at some
point, I would bother him a lot.

SPEAKER_01 (21:22):
Bother him a lot?

SPEAKER_05 (21:23):
Yeah.

SPEAKER_03 (21:23):
No, I think it's the same like no, I'm not saying.

SPEAKER_05 (21:28):
But maybe once a month, like, hey, everything
okay?
What are we doing?
Like you will hate me as aclient, I'm telling you right
away.

SPEAKER_01 (21:36):
Call me for two, it's like it's you get different
clients, and it also works itsway out in the end.
So you might have some that uhum need a bit more attention,
need a bit more looking after,encouragement and stuff, and
then some people that are quitehappy and you know it all again,

(22:02):
like the the job I do is aboutrelationships, basically, and
you've got to have a goodrelationship with your financial
advisors, you've got to trustthem that you know they're doing
they've got your best interests.
Um and so again, some somepeople a bit nervous at the

(22:23):
start, um and they might be likethat, like you just said, ring
in, oh, is this okay?
Oh, I've just had this bit ofpaperwork, is it okay?
Yeah, yeah, don't worry, yeah.
Well, I've seen this, oh that'sokay, don't worry, right.
Um and then as that relationshipgrows over the years, you know,
they they trust you, they'rehappy with how everything's

(22:43):
going, and then that that comesoff.
So, you know, then uh they don'tneed that much attention.

SPEAKER_05 (22:51):
I I have a question, but it sounds weird that I'm
asking it, but I think no oneever is going to ask this
question.

SPEAKER_03 (23:00):
Okay, I'm scared for you now.

SPEAKER_05 (23:01):
Well, so am I like no one has 100% successes,
right?
You have like a awful story thathappened to you with some client
that really like traumatized youin that way that you think, oh
well, I not I fucked up, but Imarketed fucked up or I came in

(23:24):
the wrong time.
Um like a whole story for thatbecause I uh no one can have
hundred percent success.

SPEAKER_01 (23:32):
Yeah, I mean, even at the start of this year, um
when Trump got in, and all themarkets got plummeted, um and
there was clients that I'd justset stuff up for last year, um

(23:53):
and up until that point theirperformance and stuff looked
good.
Um and then after that hadhappened, all the gains that
they'd made had had lost, andthat's okay, that's nothing to
do with with you.
I'm not saying it's you again,it's the market.
Yeah, so but it was there wereawkward conversations, I'll say

(24:16):
that.
Okay.
Um because you've given adviceto people to to do this, um, and
then it doesn't look great.

SPEAKER_05 (24:26):
Would you say you read the market wrong or just
Trump is?
No, no, no.
No, no, wait.
Or jump it Trump is just toomental and crazy that things are
unstable all the time.

SPEAKER_01 (24:36):
Yeah, it just wasn't just wasn't foreseen that that's
what would happen.
Okay.
So, but you know, the markets goup and down every day, and then
they have good years and theyhave bad years.
Generally, it's like we've readthis before as a rule of thumb,
out of a 10-year period, you'llhave three bad years and seven

(24:56):
good years.

SPEAKER_04 (24:57):
Okay.

SPEAKER_01 (24:58):
So it always ends up up over a longer period of time.
I agree with that.
Again, we're talking about ashort period of time where I've
set something up for them lastyear, 12 months ago, and then
we've come back.
It's nothing in investment, it'snothing one year.
And this has happened, and themarkets are doing really well at
the minute.
So, you know, everything's sortof gone back up after the Trump

(25:20):
tariffs and everything thathappened.
So, you know, they would haveremained invested, and then they
would have um benefited becausethey'll be in a fund where fund
managers are constantly lookingat all this stuff every day and
they're buying and sellingdifferent stocks and shares.
So fund managers love volatilitybecause stuff goes down, there's

(25:43):
stuff that they want to buythat's that's cheaper.
So there might be companies thatthey won they were interested in
buying, but they think that theprice is too high, they think
it's overvalued.
So with this volatility becomesopportunity as well.
So um so then they will havegained off the back of that as
well.
Okay, it's um the same as like2021 was a really good year.

(26:12):
Yeah.
So, you know, COVID marketsdropped for a few months.
Yeah, it was weird, and then itshot back up.
And you have, if you look atgraphs, you have like this sort
of V uh shapes recovery.
Yeah, because as soon as thevaccine came out, they went, go,
vaccine, everyone starts buyingstuff again.

SPEAKER_05 (26:32):
I like how everyone blamed the the world inflation
on the COVID, which is kind ofbullshit.
Yeah, but right now it's easyfor people to say, oh, we have
inflation because of COVID andthen the wars, and then no, you
have inflation because you haveinflation, you're printing too
much money or whatever.

SPEAKER_01 (26:52):
Yeah, yeah.
I mean, that's the thing.
So 2021 was a good year.
2020 was a good year for mostpeople.
Most people, my previous clientswere up in 2020.

SPEAKER_05 (27:02):
Really?

SPEAKER_01 (27:03):
Yeah.
Okay.
Not by huge amounts, but uh mostlikely three, four percent up
for the year.

SPEAKER_05 (27:09):
So why people remember it almost as bad as
2008?

SPEAKER_01 (27:13):
Yeah, but it it wasn't.

SPEAKER_05 (27:15):
That's that's the the the collective memory is
like, oh, it was a bad year.

SPEAKER_01 (27:19):
I mean, there was more sort of fallout at the back
of it, but then 2021 was a goodyear, off the back of again that
volatility.
2022 was a shit year.
It's really bad.

SPEAKER_05 (27:30):
I think since it was shit.

SPEAKER_01 (27:32):
Yeah, so 2022 was a really bad year, 2023 was a good
year, and again, a lot of peoplehad the recovery from the
markets of 2022, and again, thatrolled into 2024 as well, um,
and then into the start of thisyear as well.
So it's the day is almostfinished, to remind you.

(27:53):
Yeah, see, I'm just I'm talkingpre-Thailand now, so I came here
in April, so yeah, that's wellthat February, but okay.
Yeah, yeah, yeah.

SPEAKER_05 (28:05):
Came on holiday in February and then take that
immediately, but um he had agirlfriend back then, he was in
love, he's still in love.
No, no, I'm joking.

SPEAKER_01 (28:23):
Someone needs to advise me on finance on
relationships.

SPEAKER_05 (28:29):
You should be a relationship advisor, it can be
fun, like they can send you aquestion.
How do you fuck uprelationships?
What's the easiest way to do it?

SPEAKER_00 (28:39):
Yeah, yeah.
I'm fed up on my girlfriend, howcan I get rid of it in a nice
way?

SPEAKER_05 (28:45):
You know, I I it's old news, so I can talk about
it, but one of the funniestthings that one someone you've
been with, and I have to saythat I can cut it after if you
don't want.
But he with he was with someoneand he told her, Yeah, yeah, I

(29:06):
don't know if I'm going outtoday, and like they are
together.
And then he went to some bar.
It was like random bar, randomhours.
He walked out with this bar uhfrom this bar with other girl,
and she just kept behind him bychance.
Oh, I know, I know, man.
He's so unlucky.
He's so unlucky.

SPEAKER_01 (29:27):
Well, we were we weren't actually together at
that point, though.

SPEAKER_05 (29:30):
Like she just and we achieve something something, I
don't know, happened.

SPEAKER_01 (29:35):
There was like a pause.

SPEAKER_05 (29:37):
I don't know if there was an argument or
something or other, but yeah,and then and then there was like
it was a random bug, randomtime, not it doesn't make sense
that she was there, and shewasn't following him, she's just
a random girl herself, she canshow up everywhere.

SPEAKER_01 (29:54):
Yeah, no, I forgot about that.
That was uh yeah, and then wegot the picture, and then we got
the picture.

SPEAKER_05 (30:02):
She took a picture of him walking with the other
girls and sent everyone.

SPEAKER_03 (30:10):
I hope I remember that.

SPEAKER_05 (30:12):
It is, but it was funny.
So, guys, if you need advice onhow to fuck up your
relationship, he's here.
Or if you need good advice forother financial reasons, he's
also here.

SPEAKER_03 (30:25):
He's also here.

SPEAKER_05 (30:26):
What can you advise people on?

SPEAKER_03 (30:29):
Me?

SPEAKER_05 (30:29):
Yeah.

SPEAKER_03 (30:30):
Oh, how to avoiding people.

SPEAKER_05 (30:32):
How to avoid people?
You're not very good at that.

SPEAKER_03 (30:36):
How to avoid people.

SPEAKER_05 (30:39):
You're trying to avoid me?

SPEAKER_02 (30:41):
No, I can't, I cannot avoid you.

SPEAKER_05 (30:44):
Oh, come on.
Even if you're not answer,you're not really avoiding.
I know.
Oh, she just don't want to talknow.
She will call later.

SPEAKER_03 (30:54):
No, uh, except you.
The other people seem like myfriend who got about to go to
the police station because Ijust she thought I disappeared.

SPEAKER_05 (31:01):
I told you.

SPEAKER_03 (31:02):
Yeah, I don't answer her for a week or two.

SPEAKER_05 (31:05):
A week.

SPEAKER_03 (31:05):
Or two.
But we are roommate.

SPEAKER_01 (31:07):
Oh, right.

SPEAKER_03 (31:09):
And she cannot contact me.
She couldn't.

SPEAKER_05 (31:11):
I think I told you that her friend sent me messages
asking about her.
I told you about that, no?

SPEAKER_01 (31:16):
It sort of rings a bell, but yeah.

SPEAKER_05 (31:19):
Through the My Thai Wife podcast.

SPEAKER_01 (31:21):
You weren't you weren't both still in the same
room though?

SPEAKER_03 (31:24):
No, because she's just in the closet.

unknown (31:29):
No.

SPEAKER_03 (31:29):
She's been sleeping.
She's not like behind a curtainor something.
No.

SPEAKER_05 (31:32):
No, you are in the closet.
I think you're sleeping.

SPEAKER_01 (31:36):
How long till she brings the please?
We've got two weeks.
Bitch hasn't called anybody.
She just eating shirts orwhatever they have.
She has.

SPEAKER_03 (31:45):
Oh my god.
I'm just in the room.
I just not uh in the mood tolook at the phone.

SPEAKER_01 (31:53):
So you're in the room.

SPEAKER_03 (31:54):
Yeah, but she's not.

SPEAKER_01 (31:56):
Okay.

SPEAKER_03 (31:56):
She's not in the room since the first day I move
in.

SPEAKER_01 (31:59):
So she was missing, really.

SPEAKER_05 (32:03):
She's not late, but I think you can give advice to
people about how to createawkward situations.

SPEAKER_03 (32:10):
That's oh yeah, that's a very good thing.

SPEAKER_05 (32:12):
You're good at that.
When you told me stories before,I will not elaborate on that.

SPEAKER_03 (32:22):
Fuck, I I'm sorry.

SPEAKER_05 (32:24):
It's okay, it's okay.

SPEAKER_03 (32:25):
My brain's not working properly.

SPEAKER_05 (32:27):
And I cannot give advice to anyone.
So the only one that can giveadvices here is Scott.
Obviously.

SPEAKER_03 (32:43):
Like normally the minimum wage.
Minimum wage, they have theystart.

SPEAKER_05 (32:49):
Minimum wage.
You mean the minimum investment?

SPEAKER_03 (32:52):
Yes.

SPEAKER_05 (32:53):
Okay.

SPEAKER_03 (32:53):
Yeah, so uh do you think it's like a good good
minimum?
Like a good minimum, likecomfortable.

SPEAKER_01 (33:03):
I mean it it just depends on your circumstances.

SPEAKER_05 (33:08):
No, but what would you say?
What would you say like for aperson that right now have
nothing and he say now I startto accumul accumulate money,
when should I talk with you?

SPEAKER_01 (33:20):
What I used to what I used to tell people, or still
tell people, is you need anemergency fund.
So we'd always say start savesome money.
If you've got nothing now, startsaving some money, and then have

(33:41):
we used to say like three to sixmonths of your monthly
expenditure as an emergencyfund.
So in case you lose your job oryour car or motorbike breaks,
then you need some so you needquick access to cash to be able
to fix the problem.
So that would be the first step.
And then if you're still afterthat and you're comfortable,

(34:05):
then you can start to look toinvest.

SPEAKER_05 (34:08):
And again, it just depends on on how much you earn
or how much you've if Ellie camewith you with five thousand
dollar that she already have thetrust the trust, the safety fund
and everything.
She say now I have five thousanddollar.
Can we do something?

SPEAKER_01 (34:23):
Yeah.
Yeah.
So again, you generally just umstart investing into a fund.
Now that's not gonna make hugeamounts of money for you.
It depends on again, everyone'sgoals and stuff are different,
so it depends what you Do youwant to become a millionaire?

(34:45):
What you want to do with it.

SPEAKER_00 (34:46):
Uh-huh.
Okay.

SPEAKER_01 (34:47):
Um but yeah, if you're gonna add that much every
year, then obviously it's gonnastart accumulating, and then you
get the the compounding effect.
Okay.
Do you know what compounding is?

SPEAKER_03 (35:02):
No.
But I pretend to be knowing, sowe keep like that.

SPEAKER_01 (35:06):
So compounding is basically So you put 100,000
baht into an investment and youmake five percent in the first
year.

SPEAKER_03 (35:17):
Okay.

SPEAKER_01 (35:19):
So you've made five thousand baht profit.
In the second year, you makefive percent again.
For example.
You're making five percent on ahundred and five thousand baht
now.

SPEAKER_05 (35:35):
Because you didn't take out the five thousand.

SPEAKER_01 (35:37):
Yeah, so if you keep it in there and then each year
it keeps going on.
So you you're not just makingfive percent of a hundred
thousand, which was your initialinvestment, you're making five
percent on the amount.
Yeah, as that keeps going, youknow, it's so it's called
compounding.
And um I think it was one inbuffet, which is one of the most

(36:01):
successful investors thatthere's ever been.
He's got uh I can't remember thethe quote exactly, but he basic
says compounding is like thebest way to to make money.
Um so yeah.
So yeah, if you had fivethousand pounds, then five
thousand dollars or whatever,yeah.
Start.

(36:22):
Five thousand bucks.
Five thousand bucks.
No, I haven't five bat.
Okay.
But yeah, so uh but again, itdepends on what you want to do.
It depends on how long you wantto invest for, um how much risk
you want to take with it.
Some people are very cautious,some people haven't done it

(36:42):
before, they're quite nervousabout it.
So it's it's weighing up all ofthose.
And again, like having some sortof emergency fund means that if
something does shit does hit thefan, then it doesn't matter.
So you know, if investment goesdown, but it's only down for a

(37:05):
short term, um, you know, okay,I've still got money to fix the
car or whatever.
Um rather than going, oh, mycar's broken and my investments
are gone down now.
So I've got well, what am Igonna do?
You know.

SPEAKER_05 (37:21):
You don't want to pull them out.
Yeah, yeah.

SPEAKER_01 (37:23):
Yeah.
So um, so yeah, that's whatthat's what you could do.

SPEAKER_05 (37:29):
Okay.
You have five thousand gooddollars?
Give him for you.

SPEAKER_03 (37:33):
No, let me have five baht first.

SPEAKER_05 (37:36):
I will give you five baht.

SPEAKER_03 (37:37):
Okay, okay.

SPEAKER_05 (37:38):
After the show, I'll give you ten butt even.
You need five baht also?
You need five baht also for thetoilet?

SPEAKER_01 (37:47):
Yeah, I was just thinking uh you get for five
baht.

SPEAKER_05 (37:51):
Yeah, some places, some places it's ten.

SPEAKER_03 (37:54):
Yeah, so it's a similar about uh my invis, but
it's different, totallydifferent thing.
Yeah, but I think it's more likelong-term analyzing, which is I
don't have a brain for that.
I just push the risk daily.

SPEAKER_05 (38:08):
Yeah, but you are constantly on your phone
trading, right?

SPEAKER_03 (38:12):
Yes.

SPEAKER_05 (38:12):
So you're doing it actively, although and he's
doing it more passively.

SPEAKER_03 (38:17):
Yeah, yeah.
More like a plan.

SPEAKER_05 (38:19):
Well, sometimes you do it actively, also, I
remember.

unknown (38:22):
Yeah.

SPEAKER_01 (38:22):
Um, I mean, I used to have this conversation with
people and they'd say theystarted doing Forex or trading
stocks and shares themselves,but again, like you're on your
phone constantly looking at it.

SPEAKER_05 (38:35):
Um and it's very stressful.

SPEAKER_01 (38:39):
It's very stressful.

SPEAKER_03 (38:40):
Is it better recently?

SPEAKER_01 (38:43):
Yeah, I I had a client that um she was doing all
this sort of stuff, she'd beenon an investing course.
So I I've said this in the past,I'm not a fund manager.
I I do my own little bit oftrading for me, but that's not
all of my money.
And you know, that's justsomething that you know I'd I do

(39:07):
personally, but I'm not a fundmanager, so I'm not gonna tell
people investing that I'm notgonna go.
I even had this conversationwith you the other day, didn't
I?
That I bought something and itwas good, and I was possibly
thinking of telling a friend,and I thought, you know what?
No, I won't do that because I Idon't want to yeah, if it

(39:29):
doesn't work, yeah, you'reright.
So, like I said, I'm not a fundmanager.
Um so fucking forgot where I wasgoing with this now.

SPEAKER_05 (39:41):
We talk about she's doing the show the show
tournament.

SPEAKER_01 (39:45):
Always on the phone and stuff like that.
So a lot of people uh don't haveexperience, you haven't got the
time, you haven't got theknowledge.
Um and yeah, I had a clientbefore and she'd done an
investing course or something,and then she was she told me
what she was doing and what umstocks and shares she was

(40:07):
buying, what she was holding atthe current time, and and then
what her what her growth hadbeen for the year, um and what
she was doing.
So buying individual stocks andshares is high risk, it's as
risky as it as it kind of gets.

SPEAKER_05 (40:26):
Um that's probably not exactly true, but no, I
think gambling in general isvery risky.

SPEAKER_01 (40:32):
But yeah, it it depends what you do.
But it's it would be classed ashigh risk in the sort of field
that I work in.
Um so what she was doing wasextremely high risk with the
money that she had.

SPEAKER_03 (40:44):
And then when she talked extremely as me.
Today I'm risked, and then nextminute I'm broke.

SPEAKER_05 (40:57):
I think we all have part of us that like this kind
of gambling.

SPEAKER_01 (41:02):
Gambling.
Oh, yeah, yeah, it's like it'sbig here, isn't it?

SPEAKER_05 (41:07):
Okay, so she did extremely high risk.

SPEAKER_01 (41:10):
So she was doing extremely high risk investments
as to what she was doing.
Um and then when she told me thegrowth that she'd had at the end
of the year, like it was herinvestment that she'd had with
us, which was medium to lowrisk, and outperformed what
she'd done herself.

(41:31):
Yeah, yeah, by quite a bit.
And she didn't have to doanything for that.
Yeah, yeah, like we were lookingafter it, you know.
It was you know, fund managersmaking you know, professionals
experienced and it were doingall this work, and it had done
better than what she was doing.
And you know, it's um she couldhave lost a lot of money doing

(41:53):
what she was.

SPEAKER_05 (41:54):
Like I said, it's high risk, and you know, some
people like to so she was luckyfor not even losing money, but
still you made more money forher.

SPEAKER_01 (42:02):
So if she took all that money and just invested
with someone with someone thatwas very low low risk, lower
risk and and much safer, and shewould make didn't have to do
anything for it either.
Yeah, so it was then I was thenhaving this conversation.
Well, well, look, you you'redoing this, but look at this.
Like, why don't you just dothis?

SPEAKER_05 (42:22):
Because this is better than and it's like giving
you a lot of free time backbecause you're not constantly on
your phone and worrying aboutthat and like getting 40 like 40
hours.

SPEAKER_03 (42:36):
Last night it's not good.
I don't wanna miss the chancebecause last night I can just in
out, in out, in out, you know,in uh every uh two or three
minutes.
So I just don't wanna lose thatuh you understand how crazy is
that?

SPEAKER_05 (42:49):
In out, in out, every two, three minutes.
She's invest pull out, investpull out, invest pull out.

SPEAKER_03 (42:54):
Yeah, because this is how that is how the that is
how the the the trade I do.
It's uh scalping.

SPEAKER_04 (42:59):
So yeah.
That's crazy.
Yeah, yeah.

SPEAKER_03 (43:03):
Yes, it is.
It's it takes so much timeactually.
But then it's like for the longterm, I still not like good
enough for do the look for thelong term.
Okay.
If I have uh if I have a money,I'm probably gonna use it.
Yeah, I'm probably gonna ask uhhis SWS, yeah.
I think it's gonna be better.

SPEAKER_01 (43:23):
It depends what you want as well.
Like people think they're gonnabecome a millionaire next year,
whatever, because they startinvesting, and it's like no, but
you don't give them the optionfor have pocket money.

SPEAKER_05 (43:38):
Yeah, yeah.
Like a small, let's say anothersalary that can they can get
every year.

SPEAKER_03 (43:43):
Yeah, or like a set uh a a serving account that it
can grow by itself.

SPEAKER_01 (43:48):
Yeah.
Yeah.
That's the thing.
People would use stuff for I'vegot this money, I want to keep
it safe, but I want to make somemoney off it as well.
And they might take the growthoff.
So they might do the compoundingwhere they go, I don't want to
touch this money for 10 years.
In 10 years' time, we're gonnause it for whatever we want to

(44:10):
buy a house in a differentcountry or for example, or
people might say, I'll put thismoney away and I just want to
take what it makes each year,and they might use that for
holidays or something like that.
But the original amount's stillthere, okay.
Um, and they just take the takethe growth off it.
So it's all like like I said inthe last one, there's no one

(44:35):
size fits all.
Everybody's different.
You have to sit down and have aconversation with someone to
say, you know, what do you wantto do?

SPEAKER_03 (44:44):
Yeah.

SPEAKER_05 (44:46):
I want to live in bataya, enjoy my life.
You know, yeah, yeah.
This is what I want to do.
I want to live in bataya andenjoy my life.

SPEAKER_03 (44:53):
Yeah.
I do have a friend that uh uhshowed me they tie up the stock,
right?
Like, but uh the thing is likehe always tells me like you need
to like uh like your sort ofincome now because back then I
still have a but he said like uhjust kind of like just 30% save
it, don't touch it.

(45:14):
It's not when but you put thesmall amount of course it's
gonna go slow.
Maybe it's gonna take year, twoyears, three years.
But depends on the amount theamount of money that's saving
inside.
It's like a saving account.

SPEAKER_01 (45:24):
Yeah.

SPEAKER_03 (45:24):
Yeah.

SPEAKER_01 (45:25):
So what the what the percentage of the I I've seen
lots of different things aboutum what percentages.

SPEAKER_03 (45:34):
Should put inside, yeah.

SPEAKER_01 (45:35):
It's again I'm sure we had I'm sure we had this
conversation.
We might not have some, but umsome people are really big
savers and they don't go outmuch, they don't do much.
Um they might have a lot ofspare cash each month.

(45:57):
Um but it's about finding abalance.
And I was trying to find abalance for people as to okay,
how much uh how much are allyour bills and everything, your
rent and electric and all thatsort of stuff, and then what do
you do?
Do you go out?
Do you go out seven days a weeklike Mike does?

SPEAKER_05 (46:21):
It was a one week or do you go once a week like I do
that?
I had one crazy week.
She knows about it.

SPEAKER_02 (46:31):
But it's caused the waiting two weeks.

SPEAKER_05 (46:33):
Come on, okay, before that.

SPEAKER_03 (46:35):
Yeah, curse on me.

SPEAKER_05 (46:36):
Five days a week, like Mike does.
Like you did before.
No, he's just blaming me.
I am a bad influence, okay?
And one of the worst influenceyou can get.
But but I'm not stabbing you inthe back.
So about that, you can trust me.

SPEAKER_01 (46:52):
No, no, no, no, I know.

SPEAKER_05 (46:54):
I stab you from the phone.

SPEAKER_01 (46:56):
But anyway, so apart from my dig it, might go out all
the time.

SPEAKER_04 (47:01):
It's okay.

SPEAKER_01 (47:02):
Um so yeah, but it is like, do you go out all the
time?
Do you go out once a week?
Do you out do you go out twice amonth?
Do you go to restaurants a lot?
You know, what do you spend yourmoney on?
Do you have hobbies that areexpensive that you might so it's
it's trying to work out allthat?
And I don't want to say I neveruse I'd keep people's money back

(47:22):
as well.
Um because you know, you've gotto enjoy life as well.

SPEAKER_03 (47:29):
Yeah.
So there's uh next it's gonnaconnect to the my next question.
Do you helping them like startfrom that point?
Like uh help them analyze liketheir sort of income and like
they spend it, and then what andthen you suggest them which one.
Yeah, yeah.

SPEAKER_05 (47:43):
This is actually exactly what he does.

SPEAKER_01 (47:44):
Yeah, so yeah, that's a big that's a big part
of it.
And one of the things that wecan do for people is um we do
like cash flow modeling.
So I use I like plan someone'slife now financially.
So you might say it's got um I'mearning this much money, this is
how much my bills are, it's howmuch I spend each month on going

(48:07):
out or shoes or whatever.
Um and then at this point, Iwant to buy a new house and I
want to retire at this, andwe'll look at all of that and
then go, right, here's the plan.
This is this is how you do it.

SPEAKER_05 (48:24):
And then it might not be But it's according to
you, it depends on your goals,as you said before.

SPEAKER_03 (48:32):
Yeah, yeah, yeah.

SPEAKER_01 (48:33):
It might not be feasible, you might not earn
enough money to get what youwant at that time.
So that's why we like I said,it's a continuing relationship.

SPEAKER_03 (48:41):
Yeah, so we have to talk a lot and uh we'll update
every day.

SPEAKER_05 (48:46):
If he be if you be his client, every day you need
to follow it.
Scott, what are we doing today?
Can I go eat in the restaurantor should I not use toilet paper
this week?
I will wipe with my hand.

SPEAKER_01 (48:57):
Yeah, yeah, it's more yeah, it's more of a longer
term thing, but yeah, it's youmonitor it constantly.
And if you if you get a big payrise, you get oh, actually, I
can start doing this now.

SPEAKER_05 (49:11):
So I know a guy, you know him, but I will not name
him.
He lives in Thailand and he gotan income of about 7,000 uh
well, eight thousand Canadiandollars a month.

SPEAKER_01 (49:25):
And I asked him, like he's not living like a
lavish lifestyle.

SPEAKER_05 (49:31):
I asked him, like, what do you do?
He said, so his expenses justfor the apartment and the car,
he owns the car, and uheverything is about one thousand
three hundred dollars, right?
Canadian dollars.
Then he said he dub he used thesame amount, so two thousand
three uh six hundred in total.

(49:52):
This is how much he spent everymonth.
He not allowed himself to spendmore than that, yeah.
And everything else he's justinvesting, everything else,
except of about$500 that hekeeps every month for emergency.

SPEAKER_01 (50:05):
Yeah, yeah.
So again, I would um when I wassaying about like an emergency
fund and stuff before, I wouldstill put money into that, like
trickle some in, and then if itgrows way above, you know, then
you think yeah, but we've gottoo much in the emergency fund.
Okay, well let's slice a bit offthe top and we'll put that.
But let's let's keep tricklingsome in.

(50:27):
So, you know, if something doesbreak, you've got the money to
take that out and pay for it,but then over the next couple of
months it's gonna build back upto where it should be anyway.
So so yeah, that's like that's agood thing to do.

SPEAKER_05 (50:41):
Yeah, so but he I asked him, like, you don't uh
want to travel, you don't he sayno.
I I I I live I like my lifehere.
I have a nice apartment, I haveeverything I need.
Yeah, he's not going out toomuch, he's going out maybe maybe
six times every month.

(51:01):
Yeah, something like this.
I think you already know who I'mtalking about.
And that's it, he's justinvesting the money because he
wants in the future, so he hethink about the future when he
can stop work and he's investinga lot of money.
I don't know if he's doingeverything himself or he has a
guy that doing the same thingthat you are doing for him.
If not, I might need to connectyou guys, but yeah, yeah.

SPEAKER_01 (51:24):
Yeah, I mean it's like I said, everyone's
different.
Some people are real savers.
They're savers and spenders.
Some people spend all theirmoney, some people save all
their money, some people are inthe middle, you know.
It's everyone's I think you arein the middle.
But it's yeah, yeah, I'd I'd sayI'm I'm in the middle.
It's you know, you've and I'dsay there's clients, you've gone

(51:46):
enjoy yourself as well.
I used to have clients that had,you know, loads of money in
investments, and then they wouldmoan about doing something.
I don't know, it's like go anddo it, go and spend your money,
like you've saved it all yourlife.
You're now in your you're now inretirement, go on fucking
holiday, like go on fourholidays.

(52:08):
Like, I'd I'm quite honest withpeople, but I'll you know, I'll
I'll try and grow your money,but once it's grown and it's
there, use it for what theoriginal goal was.

SPEAKER_03 (52:19):
Suffering, not just your saving, like come on, go.

SPEAKER_01 (52:22):
Yeah, but it's it's all about finding the balance,
and it's about understandingpeople's goals and then
understanding their behavioursas well, which is quite a big,
quite a big thing.
Used to have a lot of clientsthat um came from nothing, so
had no money, then they've beensuccessful in life, and then

(52:44):
they've earned a lot of money,so they've always saved a lot,
and then they're very protectiveover it.
And at the end, you've got tounderstand different people's
behaviours, and some peoplewon't invest.

SPEAKER_05 (52:58):
I think this is what you said before that part of
your job is actually creatingreally connection with those
guys because you actually needto know their background, where
they're coming from.

SPEAKER_01 (53:08):
Yeah, some people be um reluctant to invest.
And my job's not just going, ohwhy?
Why don't you want to investwhat you're stupid or something
like that?
It's it's understanding why,lots of real reason behind it.
And then you do a bit moredigging, it might be that
they're that their father, thattheir grandfather lost loads of

(53:28):
money at a certain point or youknow in the past, and and they
experienced that, and it's it'sa bad experience.
So, you know, and it's aboutunderstanding behind people as
to what their their behavioursare and why they do different
things or why they're reluctantto do something rather than just
no, you need to do this.

(53:48):
You m I might know it's theright thing for them to do, but
I need I need to understand whathow they feel about it.

SPEAKER_05 (53:55):
A salesman can never like the worst salesmen are the
salesmen that tell you you haveto buy something.
Yeah, those are the worst, yeah.
And I I don't think that's theright strategy.
Like I I I would look at itdifferently.
You know, we we talk about wetalked about before.
I have my own like salesmanexperience as a salesman.

(54:16):
You have and we agreed on manypoints that the best salesmen
are the guys that like first askyou, well, why do you need it?
What what you need and why doyou need it.
Yeah, yeah.
And then they try to find theright product for you.
It doesn't matter what you areselling.
So like I remember the I thinkit's one of the best examples I

(54:36):
can give.
A guy came to me when I I toldyou I used to own like a tire
shop before.
And one guy came to me and hehad like, I don't remember it
was a I think it was a Mercedes,very expensive one.
And he needed new tires and heneeded like a font adjustment
and everything.
And we did the front, and Isaid, Okay, you need the tires.
Yeah, but I want the same tiresI had before.

(54:58):
I say, Okay, they are veryexpensive.
Yeah, yeah, yeah.
I want the same tires.
Uh then I asked him why you needthe same tires.
Like, I have them, you're goingto pay a lot of money, but how
how how often do you drive thecar?
Like, I wanted to know if heneeds those like top tier.
Say, oh no, I'm selling them.
Say, what are you selling?
I'm selling the car.

(55:19):
Say, so why do you need the mostexpensive tires?

SPEAKER_01 (55:22):
You will not gonna add any value.
Yeah, nothing.

SPEAKER_05 (55:25):
You're just going to lose extra money.
Yeah, yeah, yeah.
And at the end, he bought like agood but Chinese tires.
Yeah, yeah.
And he was like, I saved him alot of money, not because I
could sell more, you know, butthis is doesn't mean like I gave
him the right thing that heneeded.
He needed the cheapest okaytires he can find.

SPEAKER_01 (55:45):
Yeah.
That's the thing.
It's and in my job, it's whatpeople are comfortable with.
So if they're a first-timeinvestor, they might have a
hundred thousand pounds, forexample, that they can invest.

SPEAKER_05 (55:58):
Which is a lot of money.

SPEAKER_01 (55:59):
Yeah.
And they might have that, butthey've never invested before.
And I might look at everythingand say, well, you should you
you know, realistically, youshould invest the whole hundred
thousand pounds.
But I then have a conversationwith them.
So, well, listen, why don't wedo 50 now and in six months'
time?

SPEAKER_05 (56:19):
We'll see how we get on.
Yeah.

SPEAKER_01 (56:21):
And then you can you maybe you do the rest.
So it's you know, people oughtto be comfortable with it.
If people aren't comfortable,there's no point in doing it.
Because it's gonna be a badexperience.
Um but yeah, I mean, one thing Iwanted to talk about um on his,
you know, I did uh I wrote apost that's on our company

(56:44):
website.
Uh I shared it also in thecouple of weeks ago, it was on
LinkedIn and stuff.
Um there's been a couple, but umso this is mainly at UK expats,
so I apologize to to the umyeah, but the UK laws are
actually like I'm sureeverything will go in Europe

(57:05):
eventually, because all theworld is going in the same
direction.
So there'll be, you know, thesort of main nationalities of
expats out here most likely facesimilar issues anyway.
Um but yeah, in the UK, so twicea year there's a budget from the

(57:25):
government, and they come outand say what uh what taxes
they're gonna change, you know,um stuff like that.
So the next one's in uh nextmonth, November.
Um and there's loads of reallybad rumours going around at the
minute.
So I don't know if people havewill have seen on Facebook or or

(57:47):
whatever, but there's a changeof government in the UK, and I
don't want to get all political.
Don't be able to do it.
I won't get political, but um,yeah, there's lots of changes,
and they've upset a lot ofpeople already in the in the
previous budget.
So um there's a lot of rumorsgoing round at the minute.
Um so I think we we spoke aboutin the last sort of podcast that

(58:12):
we did about this, um aboutpeople owning rental properties.
So I know there's a lot ofpeople over here that still have
rental properties in the UK, andthat provides them their income
or you know, their retirementout here.
Um there's rumours that that'spossibly going to be had a go

(58:34):
at.
Um they've already made itharder and harder over years,
but they're looking atpotentially paying national
insurance on the rental incomedo you get in the UK.

SPEAKER_05 (58:47):
Okay.
So how much of a percentage arewe talking about?

SPEAKER_01 (58:50):
Um again, it depends.
There's there's differentcategories.

SPEAKER_05 (58:54):
Okay.

SPEAKER_01 (58:55):
Um, but again, this is just a rumour.
So there could be a potentialwhole different category just
for that.
But um, yeah, and it depends onhow much you earn as well, so
what the income is, but um it'dbe an additional tax that you're
gonna pay if you've got rentalproperties in the UK.

(59:15):
Um there's also possibly changesto capital gains tax as well,
okay for um which again wouldaffect people if they were then
wanted to sell uh properties.
So I used to do a lot ofanalysis for people that had
property portfolios and thenwork out, you know, what is

(59:40):
actual your actual yield eachyear, what's the actual growth
on the assets that you hold?
Is it worth it?
Is it, you know, for the amountthat you've got invested in
these assets, is it actuallyworth your while?

SPEAKER_05 (59:57):
Or is it more than just setting it and invest
somewhere?

SPEAKER_01 (01:00:00):
Or is there something better?
And again, if you have propertyin the UK, um you know, you
you're gonna pay tax on it overthere.
Um and possibly pay tax here aswell.
So um and inheritance tax aswell.
So all UK assets that you ownare liable to inheritance tax.

(01:00:24):
And again, that's another thingthat's heavily rumoured at the
minute in the UK is that they'llalter um possibly the
thresholds, possibly um theseven-year gifting rule that
there is over there at theminute.
So if you gift something tosomebody, your children or

(01:00:46):
whoever, um, after seven yearsit's passed as not being yours
anymore, um, and there'd be noinheritance tax to pay.
There's rumours that they mightget rid of it.
Yeah, because it sounds like aloophole.
Or change it.
Let's be honest.
Yeah, I mean, it's not.
I wouldn't say it's loopholes.
There's there's allowances andthere's things that you can do

(01:01:08):
legally.
Um it's not something that'sreally hidden.
Um, but again, there's peopleneed to take advice on it as to
how they do it and what they cando.

SPEAKER_05 (01:01:22):
I think the thing that you say are not obviously
they're not only for the expertsin Thailand, it's for Brits in
general.
Like I think even people thatstill live there and they have
some properties, oh yeah, theyhave to to to understand what is
going on.
Like at least at least havetheir finger on the pulse, you

(01:01:45):
know.

SPEAKER_01 (01:01:45):
Yeah, yeah, yeah.
No, that's the thing.
Um and again, that's why I sortof said before, having a
financial advisor, you're keptup to date with this stuff.
Because some people won't watch,some people don't like to watch
the news.
I don't like to watch the news.
I watch what's relevant to me.
Um but some people won't watchthe budget, they won't look at

(01:02:08):
all the uh you know the summaryof it afterwards.
So people don't know what isactually affecting them.

SPEAKER_05 (01:02:15):
Okay.
Um what would you advise rightnow, even though it's still
humil, let's say I had I don'tknow, some properties back in
the UK.
What would you advise me to donow?
Sell them, liquidate them, andthen see what's going on?

SPEAKER_01 (01:02:31):
Um so again, like we can't you can't really give
advice on rumors.
I know.
So it would be to just startlooking at it and you know,
looking at the figures, doingsome calculations and going, you

(01:02:52):
know what, actually, is this isthis worth it?
Um it might be that some stuffdoes come in, some stuff
doesn't.
Um and then you can have anotherlook at it and go, actually, I
really need to do somethingabout this.
Um because yeah, it's it's notit's not great over there.

(01:03:14):
But like the inheritance taxthing as well, um you know, you
can have quite a modest estate.
It might be modest, so I don'tknow who listens to this
podcast.
It might be modest to some, itmight be big to some, it might
be small to some.

(01:03:35):
Um but if you're an expat overhere and you've got say two
hundred and fifty thousand poundhouse in the UK that you rent
out, uh£250,000 um, sorry.

SPEAKER_05 (01:03:54):
£2,500.

SPEAKER_01 (01:03:56):
Yeah.
So say if you had the figuresthat are going in my head now, I
had an example in my head of andthen instead of using that
example, I've tried to make upthe figures in my head and just
confuse myself.
So anyway, you basically you canhave, you know, if you've got

(01:04:17):
£500,000 of assets in the UK,um, but you're living here, um,
it means that one of theallowances that you get for
inheritance tax, which is owninguh your own home and and living
in it, you lose that becauseit's not your main residence.

(01:04:37):
Your main residence is overhere.
So then that reduces yourallowance that you can pass
down.
So£500,000, which there'll be alot of people here that have got
that, you know,£200,000 house,£300,000 pension, that's that's

(01:04:57):
not uncommon from the UK.
Um you're potentially gonna payinheritance, well, you're not
gonna pay it, your kids aregonna pay it um when you die.
So um, and the reason I saypension is pensions used to be
free from inheritance stats, butfrom 2027, um any unused pension

(01:05:21):
is going to be um assessedagainst inheritance stats as
well.
Okay.
So they're already changingthings um like this.
These these are already cominginto place.

SPEAKER_05 (01:05:33):
Why does the excuse like the government meet need
more money?

SPEAKER_01 (01:05:37):
Yeah.
That's it.
Yeah, there's a there's a hugedeficit in the UK at the moment.
Um the exact figure.
I think it was something like60, 70 billion or something or
something.
Um, I think they're looking atinheritance tax, but actually
inheritance tax is very small.

(01:05:57):
The amount that actually getspaid to the government uh across
all the tax that gets paid, it'sactually quite small.
So um I think it was last yearabout 8 billion pounds was paid
to the government inheritancetax, might be slightly higher.
So even if they doubled it,they're only gonna they're only
they're only getting an extra 8billion towards their deficit.

(01:06:20):
So a lot of people are talkingit, you know, oh you're just
gonna fuck off a load of people,like really piss them off, and
they're potentially gonna leavebecause you increase the
inheritance tax.
Well, actually, you're notreally going to gain that much
from it.
So, but again, everything at theminute is just rumors.

SPEAKER_04 (01:06:42):
Okay.

SPEAKER_01 (01:06:43):
So we'll know more next month, and then it might be
good if I do that.
Possibly we do an update on thatand then say, look, this these
are the changes, and what doesthat actually mean to people?

SPEAKER_05 (01:06:54):
We can actually print out the whole like
assessment of the oh, you don'tneed all of it because it'll be
no, but I mean we can take thepoints that do matter for
expats.

SPEAKER_01 (01:07:04):
No, I'm just gonna say, like, the whole thing is
like, or 2P has been added tobeer or something like that.

SPEAKER_05 (01:07:11):
I understand.

SPEAKER_01 (01:07:12):
I mean yeah, yeah, yeah.

SPEAKER_05 (01:07:14):
Everything that do apply for expats in general, or
people that thinking of movinghere in the future.

SPEAKER_01 (01:07:21):
Yeah, yeah, yeah.

SPEAKER_05 (01:07:22):
Or moving out basically, not only here.

SPEAKER_01 (01:07:24):
Yeah, no, exactly.
But I think the reason I sort ofwanted to talk about this is I
think a lot of people when theycome out here, they think I live
in Thailand now, I don't need toworry about the UK.
Fuck the UK or whatever theymight think.
Um but actually you still needto pay attention as the as the

(01:07:45):
what's happening out therebecause it will affect your your
lifestyle and your and yourlivelihood.

SPEAKER_05 (01:07:52):
When we spoke with John last time, I don't know if
you heard that episode, but hemight be moving out of Thailand
because Thailand is alsocreating like a lot of problems
now for the people that have theretirement visa.
Right.
Yeah.
They are asking for 80, he said.
80, if I remember correctly.
Yeah, eight.

(01:08:13):
Yeah, half a bit more than halfa million but to be locked in
the bank in the bank account forfour months every year.

SPEAKER_01 (01:08:24):
In Thailand.

SPEAKER_05 (01:08:25):
Yeah.
Right in order to get aretirement visa, and that's a
lot of money that you cannottouch.

SPEAKER_01 (01:08:29):
Yeah, yeah.
So and again, that's uh, youknow, if that's pension or
something, that's if it's justsitting in a bank account, yeah,
it's not doing anything.
Yeah, even and you might nothave to do that.

SPEAKER_05 (01:08:45):
It used to be half than that, but now they're
increasing it, they're doublingit.
So he said, like, fuck it.
I love Thailand, but I'm goingto Vietnam.
Yeah.
And he's not the only one.

SPEAKER_04 (01:08:56):
Yeah.

SPEAKER_03 (01:08:56):
Yeah.
My friend that I know, like he'suh he's a uh best friend with my
ex.
He married with Taiwan.

SPEAKER_05 (01:09:04):
Joking, joking, sorry, it was a bad joke.

SPEAKER_03 (01:09:08):
He uh they are married, they have kids
together, they married for likemany years already.
Normally they like to live inThailand, but now he's also like
thinking to uh to leave.
They're all thinking to live tolike to go to stay in like
Vietnam or something like that.
That's because of the samereason.

SPEAKER_05 (01:09:25):
I think many people are going to move in the
upcoming years to Vietnam, toCambodia.

SPEAKER_04 (01:09:31):
Yeah.

SPEAKER_05 (01:09:31):
And I think like we will see a big shift of the
expect community moving fromhere to other places because of
that.
And that's said, and I hope thatI government will do something
about that.

SPEAKER_04 (01:09:43):
Yes.

SPEAKER_05 (01:09:43):
Because they are giving some solutions other than
the retirement visa.
They were talking again, it'srumors, but they were talking
about get giving.
Have you heard about it?
The 10 years tourist visa?

SPEAKER_01 (01:09:55):
Yeah.
I've heard yeah, I've saidsomething about it.

SPEAKER_05 (01:09:58):
But uh so that's this is the one, and they're
having the DTV, which hopefullywill stay, but you can never
know what's going on in here.
So if they give better solutionsfor the expats here, they might
stay, but I don't think it'sgoing that way.

SPEAKER_03 (01:10:15):
I mean, there's another moment, it's also quite
a quite a mess here.
So I don't know like if they'regonna come up with a different
thing soon enough.

unknown (01:10:23):
Yeah.

SPEAKER_01 (01:10:24):
Well, I was gonna say the um I was in like a tax
webinar yesterday um about Thaitax.
I've there's been rumors thatthey will change the tax rules
on uh uh expats bringing moneyinto Thailand, but at the
minute, they're just rumours,nothing's been but those are

(01:10:46):
good rumors, what they heard.

SPEAKER_05 (01:10:47):
Yeah, yeah.

SPEAKER_01 (01:10:48):
First six months or whatever.
Yeah, but there's um there'snothing published at the minute.
So hope you know, hopefullythere is, and hopefully that
will you know possibly persuadepeople to to stay.
Um but also the the other goodpoint on there was that um so
now Thailand have introduced thedigital arrival card.

(01:11:11):
Um they're actually becausethey've got that now, and
they're using AI to look at howwhat tax people have been
paying.
So they're looking at what moneyhas come into Thai bank
accounts, uh, and then they cantell from the arrival card how

(01:11:32):
long they've been in Thailand,and then they're using AI to
basically go through and um soit's just something to be
cautious of.
So I work with a couple of taxadvisors in the UK, so if
anybody does want to you knowtalk to them as well, then they
can contact with you.

SPEAKER_05 (01:11:50):
Yeah, we leave your LinkedIn again in the
description of those episodes ofthese episodes.

SPEAKER_01 (01:11:56):
Yeah.

SPEAKER_05 (01:11:56):
Uh I get a very big hint that we need to close this
episode.

SPEAKER_04 (01:12:02):
Yeah.

SPEAKER_05 (01:12:04):
So I want to thank you, and we will do an update, I
guess, sometime next month aboutthe whole thing, the whole
situation with the taxes in theUK.
Uh, thank you very much.
Uh was it interesting?

SPEAKER_01 (01:12:19):
Yes, was it really?

SPEAKER_02 (01:12:21):
It was just okay, it's just my face, it's just
Akly.
Okay, it's my resting face.

SPEAKER_05 (01:12:28):
We will see by the comments.
So thank you guys.
Like, subscribe, share, Patreon.
We love you.
Thank you.
Bye bye.