Bangkok: The Financial Planners Association suggests that the only way to survive for Thais and the middle class is to immediately start financial planning amid economic volatility, declining incomes, mounting debt, and the risk of unemployment. Organizations are downsizing and employing AI to replace them, as they face pressure to retire at age 45. The association recommends investing in yourself, increasing your knowledge, skills, and self-improvement to survive.
According to Thai News Agency, the Thai Financial Planners Association organized the first seminar "World Financial Planning Day 2025" in Thailand on October 8, 2025, under the theme "World Financial Planning Day: Thai Finances Must Survive" to encourage Thai society to realize the importance of financial planning for survival and financial stability amidst rapid changes in technology and the global financial economy, which have affected lifestyles, finances, careers, and income.
As the economic slowdown and growth slows, businesses are cutting costs and reducing production, impacting workers' incomes. Businesses are turning to AI to replace workers in many professions, putting them at risk of unemployment. Amidst the debt burden, Thailand's household debt-to-GDP ratio is at an all-time high. Many organizations are beginning to allow employees to voluntarily retire from the age of 45, signaling that Thais may face a "shorter working life" (20-25 years) and a "longer post-retirement life" (35-40 years). This impacts their financial status, especially the "middle class," who are responsible for caring for parents and their own families. They may easily become vulnerable if they lack proper financial planning, as income is lost but debt and family expenses remain.
Ms. Wiran Tharahiranchot, the first president of the Thai Financial Planners Association, delivered a special lecture titled "World Financial Planning Day: Thai Finances Must Survive," stating that sound finances are a bridge that takes us to our life goals, helps us endure storms, and is the power that gives us the freedom to choose our future. A survey by the Financial Planning Standards Board found that only 20% of people are confident that they have a sound financial plan that can handle the future well, prepare for emergencies, own their own home, plan for retirement, manage family finances, and provide financial assistance to others. The remaining 80% are unsure of their ability to handle their finances or have no plan to enable them to handle their finances. Therefore, Thais should urgently invest in self-improvement, gain knowledge, skills, and develop new and modern skills, particularly in artificial intelligence (AI).
Mr. Wirote Tangcharoen, President of the Thai Financial Planners Association, believes financial planning is the answer amid global change and uncertainty, including the situation in Thailand. Interestingly, global statistics from FPSB research show that 79% of people who have a financial plan believe it has helped them make their dreams come true. 73% of those who have a financial plan feel better coping with health problems, 51% report that financial planning has had a positive impact on their family life, and 51% say it has improved their mental health. Importantly, 98% of clients who use CFP® Professionals are confident that they are being cared for in their best interests. Furthermore, research shows that those with a financial plan are three times more likely to be confident in achieving their life goals than those without one. Over 51% of people worldwide turn to a CFP® financial planner to build a secure financial future.