This is a brilliant plan. It shows you don't need millions to retire early in luxury. Just need to be open minded, smart and think outside the box. Penang is a nice place to retire, especially living in a beachfront condo with spectacular sea view.
Quote:
Originally Posted by Unregistered
My spouse and I are looking forward to a luxurious retirement. Here's our plans.
Retirement plan at 55 (retire in Penang, beachfront condo).
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 |