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  #13468 (permalink)  
Old 11-12-2022, 01:46 PM
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You have inspired us.
Bali could also be a retirement destination.
I heard it costs S$2k per month for a retired couple to retire comfortably there.

Originally Posted by Unregistered View Post
My spouse and I are in our early 50s. We are debt free and owns our home. Retiring overseas in a cheaper location is something we talked about often. I think we can retire in Penang maybe when we reach 55 (after collecting our CPF) with the passive income we can get from renting out our home in Spore.

Rent out property in SG S$3000 pm
Convert to RM to get RM10,000 pm

Cost of living in Penang

Rent a 2 bedder condo RM1500 pm
Food, utilities, transport RM2000 pm
Travel the world RM2000 pm (RM24,000 pa)
Misc RM2000 pm
Total RM7,500 pm
Savings RM2,500 pm

This is for our retirement from 55 to 65.
When we reach 65, our CPF Life will give us S$5000 pm (S$2500 each)
We can save this S$60,000 pa (or RM195,000 pa) or upgrade our retirement lifestyle

We have achieved FIRE (Financial Independence, Retire early)
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