You are brilliant! Your idea gives a lot of hope to so many people. We don't have to work until our 60s and 70s. Our
HDB flat is our retirement asset. Our flat gives us a home to live in now and later becomes an asset which can generate passive income. We are so lucky as we can buy cheap BTO flat. So lucky!
Quote:
Originally Posted by Unregistered
I'm a low income 46 year old person. Earns only S$40k pa. Luckily our home is paid up. We can afford to retire when we reach 56. Our home is a valuable asset which can generate passive income for our retirement in Penang.
Our home can give us S$2k pm in rental income and after currency conversion we get RM6.2k pm. This would be enough for two retired old persons in Penang.
Our rental in Penang (3 BR condo with sea view, 1300 sqft) RM 2k pm
Utilities, car petrol and maintenance RM 700 pm
Food and groceries RM 1k pm
Medical and insurance RM 1k pm
Misc RM 500 pm
Total RM 5.2k pm
Savings RM 1k pm
Even though I'm low income I can still retire like a rich man, in a big condo with sea view. Penang is a good place to retire as the cost of living is lower. It is also a safe city. Much safer than KL and JB.
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