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Wow! This is a brilliant idea. It's great that even a low income person can retire like a rich man in other countries. As long as we own a flat and CPF savings. Actually many Westerners from US and Europe are retiring in Asia, especially in Thailand and Malaysia.

Quote:

Originally Posted by Unregistered (Post 101297)

Low income guy, 50 yo. Income $45k pa only. 3 room flat paid up. No other assets except CPF savings.

Thinking of retiring in a cheaper place. Some people here suggested Malaysia and Thailand. I think we will retire in JB when we reach 55. We can rent a new 3 room condo for RM1500 pm. Other expenses such as food, car, electricity, water, entertainment, medical and travel will cost us RM3500 pm. In total we will spend RM5000 pm.

We will rent out our flat at S$2000 pm and convert to RM6400 pm. This passive income will pay for our retirement expenses in JB. We can still save RM1400 pm.

When we reach 65, our CPF Life will give us S$4000 pm. After convert to RM, we will get RM12400 pm. So our total passive income will be RM18800 pm. We can upgrade our retirement by renting a condo in a prime location in KL. We can also go holidays to Europe every year.

28 this year
Single
Salary 4k per month basic
Bonus 2-3x
Savings 40k cash

Considering to buy a 2nd hand car 6-7k depre for own use.... But will affect my savings (save slower)

Quote:

Originally Posted by Unregistered (Post 101352)

28 this year
Single
Salary 4k per month basic
Bonus 2-3x
Savings 40k cash

Considering to buy a 2nd hand car 6-7k depre for own use.... But will affect my savings (save slower)

Suggest you dont buy the car unless its really necessary.
I am 29 and has quite similar profile as you.

I save at least 50% of my income, and hold some stocks.

Cash and cpf around 60k each.

I do have large expenses past years due to parents medical any own further study.

You should not by the car but buy a condo near an MRT station.

Quote:

Originally Posted by Unregistered (Post 101352)

28 this year
Single
Salary 4k per month basic
Bonus 2-3x
Savings 40k cash

Considering to buy a 2nd hand car 6-7k depre for own use.... But will affect my savings (save slower)

Quote:

Originally Posted by Unregistered (Post 101320)

Why must it be bulge and not boutique? 🙂

Oh well, guess I overestimated. Ignore me then.. I don't know anyone at the boutiques in M&A...

aesthetic clinic practitioner
2nd yr
250 - 300k PA

Financial freedom at what age?

I have 3 paid up properties (1 2BR China condo w/tenant, 1 3BR MY Condo and 1 5BR HDB), currently living in HDB.

Just bought a new 3BR Condo, but on around 800k loan.

My wife and I having full time job now and planning to retire earlir. But our kid is still 5 years old studying in SG, which make us wonder how long we need to wait for our early retirement.

We plan to live and work in JB ard 2023 when RTS really start, so that we can rent out our 2 SG properties for rental.

I am ard 44 age and wife is 42 now.

Anyone can advise us how we can go about our early retirement? Thanks.

I guess you already have the answer to your question.

Quote:

Originally Posted by Unregistered (Post 101402)

Quote:

Originally Posted by Unregistered (Post 101385)

aesthetic clinic practitioner
2nd yr
250 - 300k PA

Planning to open your own branch? Not worth it to work for other ppl, liability ++ and they get all the money.

You can rent out all your properties and use your rental income to retire in JB.

Quote:

Originally Posted by Unregistered (Post 101402)