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25-10-2016, 09:06 AM
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You are one lucky chap and has Malaysia as hitherland.
If I were you, I would back home to take care of my parents and rent out the whole house.
Find a simple job back and continue using the passive income generated to support the expenses home with the advantages on the exchange rate.
Wonder why do you want to retire in Singapore when your parents pass on where you could retire now back in Malaysia.
Quote:
Originally Posted by Unregistered
Need some advice here
I am a 37 yo single guy who come from a small town in Malaysia. I have been working in sg for many years and have plans to move back home to care for aging parents. However, my savings are not enough for me to do that now and my parents are v stubborn n do not wish to move to SG to stay w me. They only have relatives around to help look after them as my sister has married n moved overseas. I only go back once in a while due to work commitment and I do wish to be able to spend more time w them before it is too late.
My annual income from employment is only about 85-90k and being a new sg citizen, I now have a HdB bought under the single citizen scheme. To speed up my savings rate I have rented out 2 Bedrooms for about 1500 per month. My current cash+stocks are only 162k as i have used some cash to pay for the hdb and also to top up cpf SA.
My current passive income from rental n dividends are about 1900 per month. With disciplined saving, I should be able to save 50k per year and i plan to move home once my portfolio hits 400k + with the hdb paid off. I will also make sure that my cpf has met the minimum sum before i call it quit. I intend to come back to sg to retire after my parents pass on as all my friends are here n I have already gotten used to the life in sg.
Assuming I get a part time or simple job to cover my basic living expenses back home and keep my passive income generated in sg to build my nest egg further., Do u think I will have enough to retire on in sg ? I dont need to live a luxurious lifestyle so long im not poor n miserable is good enough.
I know the amount stated is probably not enough by a lot of ppl's standards but I do not want to wait too long since my parents health are not good.
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25-10-2016, 09:28 AM
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I'm 50 and happily retired. I worked hard all my life from primary school all the way to my career. My dream of early retirement finally came true when I stopped working for others.
Today, I own a beautiful three bedroom condo in a luxurious upper end condo development which is the envy of many. I drive a good, sporty and reliable car.
I earn passive income from my investments. I also manage my portfolio actively.
Life is wonderful now as I no longer need to report to anyone. I am my own boss. I don't have to be stuck in morning traffic jams too! LOL!
My advice to the younger folks here is to work hard in your career so that you can enjoy a happy early retirement. I've never been so happy! LOL!
Quote:
Originally Posted by Unregistered
What happened to the window guy? Hope his view this morning was not affected by the heavy rain.
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25-10-2016, 09:30 AM
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Hello u comparing normal engineer vs TOP banker or TOP banker vs TOP Manu, engineering management?
Quote:
Originally Posted by Unregistered
This is the truth.
Bankers earn a lot more than engineers, generally.
Bankers can retire in their 40s if they want to.
Engineers have no choice but to work until they are in their 60s.
Engineers are cost centres. Bankers generate revenue.
Top bankers can earn millions of $ annually.
Top engineers earn only $250k pa annually.
The only way for engineers to earn more is to set up their own business.
Then they can earn millions and potentially become billionaires if they are good.
If they are lousy, they become bankrupt. That's why most engineers don't dare to set up their own business because they are not good. Cannot make it.
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25-10-2016, 12:29 PM
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Quote:
Originally Posted by Unregistered
You are one lucky chap and has Malaysia as hitherland.
If I were you, I would back home to take care of my parents and rent out the whole house.
Find a simple job back and continue using the passive income generated to support the expenses home with the advantages on the exchange rate.
Wonder why do you want to retire in Singapore when your parents pass on where you could retire now back in Malaysia.
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I spent most of my life in sg since uni days. Really like it here compared to msia. Everything is convenient n efficient and low crime rate.
If I'm able to retire in sg without any financial issues I will definitely not retire in msia.
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25-10-2016, 04:44 PM
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Super Member
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Join Date: Aug 2010
Posts: 335
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I doubt this poster is true. Any new citizen will be very careful make a public post on HDB rental especially when he is not meeting HDB minimum occupation period.
Dont stir up nonsense in SG.
Quote:
Originally Posted by Unregistered
Need some advice here
I am a 37 yo single guy who come from a small town in Malaysia. I have been working in sg for many years and have plans to move back home to care for aging parents. However, my savings are not enough for me to do that now and my parents are v stubborn n do not wish to move to SG to stay w me. They only have relatives around to help look after them as my sister has married n moved overseas. I only go back once in a while due to work commitment and I do wish to be able to spend more time w them before it is too late.
My annual income from employment is only about 85-90k and being a new sg citizen, I now have a HdB bought under the single citizen scheme. To speed up my savings rate I have rented out 2 Bedrooms for about 1500 per month. My current cash+stocks are only 162k as i have used some cash to pay for the hdb and also to top up cpf SA.
My current passive income from rental n dividends are about 1900 per month. With disciplined saving, I should be able to save 50k per year and i plan to move home once my portfolio hits 400k + with the hdb paid off. I will also make sure that my cpf has met the minimum sum before i call it quit. I intend to come back to sg to retire after my parents pass on as all my friends are here n I have already gotten used to the life in sg.
Assuming I get a part time or simple job to cover my basic living expenses back home and keep my passive income generated in sg to build my nest egg further., Do u think I will have enough to retire on in sg ? I dont need to live a luxurious lifestyle so long im not poor n miserable is good enough.
I know the amount stated is probably not enough by a lot of ppl's standards but I do not want to wait too long since my parents health are not good.
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25-10-2016, 05:50 PM
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You sound very childish. How old you are really? 18 or 17?
Your postings are without much substance. Dont say I say ah.
Quote:
Originally Posted by Unregistered
I'm 50 and happily retired. I worked hard all my life from primary school all the way to my career. My dream of early retirement finally came true when I stopped working for others.
Today, I own a beautiful three bedroom condo in a luxurious upper end condo development which is the envy of many. I drive a good, sporty and reliable car.
I earn passive income from my investments. I also manage my portfolio actively.
Life is wonderful now as I no longer need to report to anyone. I am my own boss. I don't have to be stuck in morning traffic jams too! LOL!
My advice to the younger folks here is to work hard in your career so that you can enjoy a happy early retirement. I've never been so happy! LOL!
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25-10-2016, 05:52 PM
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Quote:
Originally Posted by lazyplane
I doubt this poster is true. Any new citizen will be very careful make a public post on HDB rental especially when he is not meeting HDB minimum occupation period.
Dont stir up nonsense in SG.
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I am only renting out 2 rooms. You only need to meet the MOP for whole unit rental. And I am renting legally and paying income tax for the rental income by the way. Just to clarify
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25-10-2016, 09:04 PM
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Quote:
Originally Posted by Unregistered
I am only renting out 2 rooms. You only need to meet the MOP for whole unit rental. And I am renting legally and paying income tax for the rental income by the way. Just to clarify
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Yes I believe you totally. Surely
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25-10-2016, 10:12 PM
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Quote:
Originally Posted by lazyplane
I doubt this poster is true. Any new citizen will be very careful make a public post on HDB rental especially when he is not meeting HDB minimum occupation period.
Dont stir up nonsense in SG.
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Probably some anti-gov moron. They like to pose as foreigners and make up stories of bad behavior to stir up xenophobia. Go transitioning.org can see many fake 'expat' post dubious stories which the oppo guy webmaster from a rubbish small party happily upload to get traffic.
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26-10-2016, 08:53 AM
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How about you?
You sound more childish.
Quote:
Originally Posted by Unregistered
You sound very childish. How old you are really? 18 or 17?
Your postings are without much substance. Dont say I say ah.
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