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How much are you earning per annum?

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  #13461 (permalink)  
Old 06-12-2022, 11:17 PM
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34m 200k pa (base + annual bonus)
As Software architect in MNC

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  #13462 (permalink)  
Old 07-12-2022, 06:02 PM
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Quote:
Originally Posted by Unregistered View Post
48 M
Iím thinking of retiring in JB next year.
Rent out my fully paid flat for S$3.5k pm.
This gives me passive income of RM11k pm.
Can live a comfortable life in JB for RM6k pm.
Can rent a condo there for RM2k pm.
Food and other expenses RM4k pm.
Save RM5k pm.
What do you think?
Brilliant! You are financially independent.
Shows how important our home is as a cash generating asset.
Not forgetting you will have a monthly annuity at 65.
No need to have millions in the bank to retire.
Just need to be smart. No more office politics!

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  #13463 (permalink)  
Old 09-12-2022, 08:02 AM
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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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  #13464 (permalink)  
Old 09-12-2022, 08:12 AM
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Maybe I'm fking crazy or something but when I hit 50-55+, I'm not going to retire, I rather just legally suicide and give everything I have to my family. I already did what I wanted as a young adult, I really don't see what else is there to do as a old man.

To me when you experience things a number of times, you get bored of them.

I think I have depression lol anyway hope you guys make it, your plans all sound great, lots of good steady income, hope you all find happiness.
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  #13465 (permalink)  
Old 09-12-2022, 09:26 AM
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Originally Posted by Unregistered View Post
Maybe I'm fking crazy or something but when I hit 50-55+, I'm not going to retire, I rather just legally suicide and give everything I have to my family. I already did what I wanted as a young adult, I really don't see what else is there to do as a old man.

To me when you experience things a number of times, you get bored of them.

I think I have depression lol anyway hope you guys make it, your plans all sound great, lots of good steady income, hope you all find happiness.
You're not crazy bro I have similar plans for later stages of my life too haha. And I don't think I'm depressed. When you get old (and especially if single and lack energy), most things lose their meaning. It's actually good to have an idea (no need to really plan in detail) of how to handle old age.
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  #13466 (permalink)  
Old 10-12-2022, 05:48 AM
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Great plans! Retiring at 55 yo is a bit old but better late than never.
It is time to relax and smell the roses. You have worked hard all your life. Donít believe people who says you need $1 mil cash in the bank to retire. You just need a HDB flat and CPF savings and CPF Life to retire comfortably in a cheaper location. Our neighbouring countries are cheap places. Enjoy your retirement!

Quote:
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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  #13467 (permalink)  
Old 10-12-2022, 10:36 AM
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Retiring at 55 is old? f**k, I'm so dead then.

I'm not even 30 and I don't think I can retire by 60 lol, honestly just like the post above, I rather just kill myself at 50 or something.

I have a degree, work at tech and get about 6-7k a month, can probably hit 8k after 3 years and 10k around 38 years old but with all the rising prices, GST, housing prices, COE etc, I don't think I can survive lmao.

Respect to you guys who started so early with millions already, damn.
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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.


Quote:
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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  #13469 (permalink)  
Old 13-12-2022, 05:29 AM
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Join Date: Dec 2022
Posts: 6
ZaklievscaD is on a distinguished road
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about 90k +investments
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  #13470 (permalink)  
Old 14-12-2022, 09:41 PM
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54M, 52F
Our condo is paid up
We can retire when we reach 55
We will need $36k pa for food and utilities (no car) to retire from 55 to 65
At 65 we get $60k pa ($5k pm combined) from CPF Life
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