If you are not trolling, I would suggest you read up on Malaysia My Second Home program. Through this program, you will be given something like a PR status to enable you to stay on a long term basis. If not, you cannot stay long term. That would mean you would still need a place to stay in Singapore.
To qualify for the program, you would need to invest or put into a FD in a Malaysian bank an amount of RM350K. In addition, you need to show you will have a steady income of RM10,000 a month. Think for spouse, they need a further amount. Go and read up on the conditions. Thailand, same thing. They are now clamping down on transient foreigners who dont have long term visas. Good luck Quote:
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I don't need to be in the program. Many Singaporeans already staying in JB and don't need to be in this program. Just need to go back to Singapore once in a while to check our letters and meet some friends.
I need advice on cost of living in JB. Do you know? Quote:
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How the hell would anyone know how much you need to live in JB without knowing the kind of lifestyle you and your wife would be leading?
Will you be playing golf all the time? Will you be driving a big conti car? Will you be travelling to and fro Singapore every weekend? every month? since you will not have long term stay permit. Will you be eating at restaurants all the time? Will you be hiring body guards? Will your wife be shopping for branded stuff all the time? Will you be travelling all the time? Quote:
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There are billions of dollars in bonuses to be paid to workers in Dec 2014. This money has nowhere to go but to the new car market as 100,000 car owners will be changing to new cars in 2015. Another 100,000 car owners will be changing to new cars in 2016. It is best to secure your COE and buy new cars now. Those who have listened to this advice earlier and bought their new cars earlier have saved a few thousand dollars already. |
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- Billionaires - this is easy no need to explain - Multi-Millionaires - Individuals who can make 10 Million dollar long term single investments / purchases varying number of times. - Millionaires - Exceeding 2 million in cash excluding residence If you review the varying levels, for a millionaire to buy a car in Singapore even a conti would require a bit of thought but not out of range of course. Multi-millionaires on the other hand buying a conti car is a afterthought, more thought would be needed for a super car, richer ones usually consider a Yacht too (starts at 20M Euros for a nice one.) We know a couple of families in the multi-millionaire , least 70% of the founders didn't have much education. But they had grit and tenacity. Ultimately if you are hungry enough you will get rewarded Look at Koh Wee Meng, secondary school education and he did quite well for himself. |
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52, 53, ordinary middle class couple, total earnings, $185k pa. Owns a condo, worth $1.5m, now fully paid up. Drives a one year old Jap car, fully paid up. Kids are in secondary schools. We don't have much savings as we spend a lot on the kids for tuition, enrichment, etc as well as giving our parent allowance to support them financially. Our net worth in total is only a small $2m in total.
We worry about our retirement. How can we retire? Do we need to downgrade to public housing? This worries us a lot. |
One way to address your worries is to identify what exactly is it that you are worried about and to address them.
As you know, worrying only leads to stress, and too much stress leads to ill health. Which will then lead to more worries. You can thus see how silly worrying about things can be. So why dont you start to list down the things that worry you and you will probably realise that most of the things are things either you can do nothing about and things that you can handle. To say that you worry about retirement is too broad a statement. So lets break it down. 1. Is it you worry about having to downgrade your lifestyle? -- can downgrade to smaller condo 2. Is it about not having enough savings to last your retirement? -- solution downgrade to HDB, and/or work longer, give up your car (too many cars on the road anyway) 3. etc.... 4. Ill health? Then dont worry so much. 5. Children's future? This is probably beyond your control, so no point worrying Why dont you share what exactly worries you and you will get more suggestions on how to overcome them Quote:
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Worried about the prospects of having to downgrade to public housing. Not sure whether I will be happy to move from a prestigious and nice condo development to public housing. I love the lifestyle, prestige, security and safety that a condo offers. I suppose I could downgrade from my 3 room unit to a studio condo unit and use the cash balance for retirement. I can also stop driving to save on transport cost. Will therefore need to find a condo next to an MRT station for convenience.
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