What are the costs and implications of applying for the DTV visa in Thailand, especially regarding ongoing proof of soft power activities?

@Luit ****************

no expert advises to keep euros in a low interest bank account. It’s stupid. Having 5k euro savings in easy access savings and the rest in investment that can be liquidated in a week is what experts would advise.

@Daniel ********

a lot of experts advice 5-20 percent in easy access savings, not a fixed amount of 5k euro.

@Luit ****************

my dear friend what is 5% of 100k?

Do you know why they say that amount? It’s for an emergency. Now if you’re monthly spend is less than 5k then having an emergency fund in easy access fundings of 5k would be sufficient to cover most problems till you access your other semi liquid savings outside of pension accounts.

@Daniel ********

I only tell what experts advice, it is free to have another opinion, and it might also differ depending on the total amount, I did not talk about 100k.

Also there is not that much difference in interest in a freely accessible savings account and other low risk investment options.

And cash is not only for emergencies, but also for the possibility to invest when chances occur, the so-called strategic reserves.

@Luit ****************

You started by dictating to people, didn't even mention any percentages. Now you have changed to percentages and only giving advice, when challenged.

In a lot of countries there's a big difference, for example in the UK a low savings account is not tax efficient so people will have to pay tax on the interest. Yet I can put it in a low risk tax efficient account and get 5% tax free growth a year and liquidise in an emergency within a week. But I can't keep moving it in and out.

So I can keep the majority of my non pension savings in investments relative to my risk profile and earn much more money, whilst able to liquidate it within a few weeks and then 5K-8k in a 5% growth account.

In Summary keeping 13.5K euros in a bank account is stupid, especially if your monthly costs are covered by your income already. Remember this isn't the retired in Thailand visa. It's appealing to digital nomad of working age with a higher investment risk profile supported with a regular income.

@Daniel ********

The moment you said it is stupid to keep EUR as cash, I replied with percentages that are adviced by experts. One of the main reasons is that you should also have room to change your investment portfolio immediately for the best results.

In the UK there might be something as tax free investment possibilities, but I do not live in the UK and I know a lot of other countries not having these tax free possibilities.

So your remark about in a bank account being stupid is just for your personal situation, having a tax free limit and not feel the need to frequently change your portfolio, so just have a static portfolio, which in my opinion is stupid.

You see the cash as money for an emergency, I see the cash as room to trade, so I can buy when I think it is a good moment without first having to wait till another sell order is effectuated.

So we have different styles of investing.

@Luit ****************

Well again what is 5% of 100k?

Many countries have tax free investment options, some countries don't event charge thing like capital gains tax. If you don't know all this why are you on here telling someone it's not a lot of money and that they shouldn't care?

It's not for just my personal situation, any expert would say the exact same thing, people are living in Thailand with a low cost of living. In fact someone else in this thread is saying the exact same thing as me. Here is how stupid it is to keep 13.5K sitting in a bank account doing nothing when you have a regular income:

13.5k after 5 years growth at 2%: 14,916.71

You never need to spend that money, after 5 years when the DTV ends you put it into a higher growth account for 10 years: 24,567.96

OR

15 years in ok growth at 5% 28,535.00

Do you want to give me that 4k, I mean it's nothing right?

As for my investment style, I am not investing with this, we have already said that.. so I have zero idea why you mention that. I invest with a lot more, that 5k or 13.5K would just be my semi liquid emergency funding.

As for "as room to trade when a good moment" no expert would advise that, every expert advises no hobby investor beats the market. Even Warren Buffet says the same.

@Luit ****************

experts advices base on monthly expenses not fixed sum and vary from 2 to 6. Its true 500k thb not much in some countries, but here, i dont keep count but a year with ease