Excellent. Out of the box thinking. Refreshing. A departure from the typical narrow minded people. You don't need to accumulate millions to retire comfortably. Just need a different mindset.
Our
HDB flat is a key retirement asset. Don't sell it away. Rent it out and live in luxury in other cities of the world. Besides Penang, we can also consider KL, Malacca, Vietnam, Cambodia, Thailand, etc. There are many cheap cities in SE Asia where we can retire in. We can even retire in the various cities around SEA for short periods of one or two years in each city. This allows us to travel extensively in SE Asia.
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Originally Posted by Unregistered
We can all retire in luxury at 55 if we have no dependents at 55 and our HDB flat is paid up. Here's how.
Retire in Penang. Penang is a good place to retire. Many expats all over the world are flocking to Penang to retire. Penang has a lot of interesting places to visit and explore. Penang is a multi cultural place and we can fit it well. People are very friendly.
Penang has a low cost of living for a retired couple.
- Rental for a 3 bedroom condo, facing the ocean RM1500 pm
- Food and utilities RM1000 pm
- Transport RM300 pm (assume purchasing a RM50k car in cash)
- Medical RM200 pm
- Entertainment RM500 pm
- Misc RM500 pm
- Total spending RM4000 pm
How do you finance your retirement expenses in Penang?
- Rent out your paid up HDB flat S$2500 pm
- Convert to RM, get RM7250 pm
- Savings RM3250 pm
So, if you have an open mind, you can enjoy a luxurious retirement in Penang. You can live in a condo with an ocean view and own a car. |