Thank you for sharing. Your ideas are brilliant. My wife and I may follow your plans once our children starts working and get married. We are lucky that we have no more loans on our flat and we also have passive income from our investments. Penang is a nice place with many beautiful beaches. We've been there a few times and enjoyed our holidays there. I'm sure it is a good place to retire. Not so crowded and yet there are many modern amenities. With the low cost of retiring in Penang, we can then save more for us to travel the world.
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Originally Posted by Unregistered
Our retirement plan at 55 (retire in Penang, beachfront)
Passive income at 55
Rent out HDB flat (fully paid up) S$2.5k pm
Stocks dividends S$2.5k pm
Total S$5k pm or RM15k pm
Penang cost of living
Rent a 3 bedroom luxury beachfront condominium RM3k pm
Car expenses RM500 pm (assume buy car in cash RM50k)
Food, groceries, restaurants and utilities RM2k pm
Medical and entertainment RM1k pm
Misc RM500 pm
Total spending RM7k pm
Savings RM8k pm
Passive income at 65
Rent out HDB flat (fully paid up) S$2.5k pm
Stocks dividends S$3k pm
CPF Life S$3.5k pm
Total income S$9k pm or RM27k pm
Total spending RM10k pm
Savings RM17k pm
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