A disciplined way to build your nest egg

Business > Financial Advice

A disciplined way to build your nest egg

It's not so difficult to become a multimillionaire by the time you reach 60.

Published: 12 Nov 2012 at 00.00
Newspaper section: Business

Salary earners can grow rich in their lifetime, saving 29 million baht by the time they turn 60.

A woman walks into a bank in Bangkok recently. By starting early, compound interest can work wonders for your retirement fun, according to Somjin Sornpaisarn, the managing director of TMB Asset Management and the author of the book ‘10 years, 10 million’. PATIPAT JANTHONG

You may think this is just a dream, but it is reachable for those with good saving and discipline who follow a special financial model.

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boons
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Discussion 2 : 12 Nov 2012 at 11.552
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Agree with #1. Not to mention that inflation eats your earnings by the time you retire. Financial products make bankers rich today with the false-promise of making you rich tomorrow.

What is most amazing though is that the entire world learned this lesson recently, and we are currently watching Spain, Italy, Ireland, France, Greece, Argentina and Brazil implode in slow motion. And yet in Thailand, mortgages, credit cards, student loans and structured financial products are being pushed on the public as if the past decade never happened.
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justfacts
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Discussion 1 : 12 Nov 2012 at 10.041
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everytime I read these finacial advice columns ,I must check to be sure I am in the business or comic section...everything is based on if...well I can quanantee you 10% per year for 24 years is not possible, also what about the commissions they will take out somewhere around 4-8 % a year.

how many thais on salary have 5000 baht a month left over let alone 25,000. In the USA it is very difficult to make a million for retirement which is the same as 29 million here and I assure you the average worker makes more

sounds like a commercial for tmb, with "sorry it didn't work out" ending
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A disciplined way to build your nest egg | Bangkok Post: business