Whats your net worth

Originally Posted by Unregistered

All this worrying of retirement is totally unnecessary. You can retire easily upon reaching 65. Me and my wife have benefitted from the genius of the government's home ownership and asset enhancement policies. My HDB estate underwent upgrading and now the estate looks wonderful. I am renting out my flat to an FT family at $4k a month and now staying with my daughter. The $4k pm is more than enough, in fact we hardly spend the money as my daughter takes care of our food, medical, etc. I hope our flat's value and rent will remain strong and rising. Our HDB is our retirement asset, our smart system enables us to retire, unlike in the west. I bought my flat at only $100k many years ago and now it is worth $800k. So your HDB flat is your best investment asset. So, don't worry about retirement. Make sure you raise your kids well and they will look after you at old age. Don't stay single, you will die a lonely death when you die. Also don't be a gay, please.

Your way of retiring is the most unwanted way.. you are compromising your lifestyle and yet you are enjoying it? Renting out your hdb and live with your daughter and you are happy with the rental.. If you are living in your own condo and rent out your hdb as passive income i would say you are great, because you do not compromise anything, life still usual. But staying with your daughter to "SAVE" the 4k rental is terrible idea.. Her life is interrupted and lose freedom if she is married, if she is not, you are barrier to it.. and you are way so proud of your "investment" skills.. Think about it, pls... !!

[Jeff]

don't worry about retirement - I do. I wished I didn't need to. But I do.

teach your kids well and they will take care of you - I have seen many people abandon their parents, usually because of money. I don't think these people are less educated.

don't be single - I'm not sure if that people stay single out of real choice

don't be gay - I'm not sure if people are gay out of choice


At the end of the day, i agree there is nothing that is truly insurmountable. We all die, we all feel pain. The reason for this thread is because we all want to die less painfully, and having money is just one way of doing that.

[Jeff]

What is money?

If I may share my views on this question:

Money is the encapsulation of the blood, sweat, tears of human effort into a piece of paper. The value on the note determines the amount of effort.

We exchange our blood, sweat and tears for this paper. Some people's sweat are worth more than others, because there is more demand for their sweat.

With this piece of paper, we 'buy' other people's sweat, in the form of iPhones, notebooks, cars and apartments.

FOR THOSE WHO ARE THINKING TO RETIRE IN MALAYSIA, IT IS POSSIBLE.

Assuming you have paid off your HDB loan, you can then rent out the whole unit at $3500 pm. When you convert to RM, you will get RM8.9k. This is more than the RM5k household income. You dont have to sell your flat, which you can give to your children as inheritance.

So, don't worry about retirement, you can retire comfortably in Malaysia.



Average monthly Malaysian household income hits RM5,000

Posted on March 28, 2013, Thursday

PUTRAJAYA: The 2012 Household Income Survey found the average monthly income of Malaysian households rising from RM4,025 in 2009 to RM5,000 in 2012, an increase of 7.2 per cent annually.

In announcing the statistics here yesterday, Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop said the urban household monthly income increased at a rate of 6.6 per cent a year from RM4,705 in 2009 to RM5,742 last year, while the rural household monthly income rose 6.4 per cent annually from RM2,545 to RM3,080.

“The signficant income rise was achieved with the federal government’s efforts in ensuring continuous, stable and strong growth in the economy.

The impact was via widespread increase in economic opportunities which generated employment with business and industrial development in various economic sectors,” he said.

Nor Mohamed said all states also recordeda better average monthly household incomes with Kuala Lumpur leading with the highest growth of 14.9 per cent from RM5,488 to RM8,586.

He said this was followed by Labuan with 12 per cent from RM4,407 to RM6,317, Perlis with 10.1 per cent from RM2,617 to RM3,538, Terengganu 9.1 per cent from RM3,017 to RM3,967, and Negeri Sembilan and Sabah from RM3,540 to RM4,576 and from RM3,102 to RM4,013 respectively.

On the ethnic breakdown, Indians recorded the highest increase in monthly household income at 9 per cent from RM3,999 to RM5,233, followed by the Chinese at 8 per cent from RM5,011 to RM6,366 and Bumiputeras, 6.9 per cent from RM3,624 to RM4,457. — Bernama

It is none of your business to judge other people's choices. You certainly displayed your elitist, snobbish arrogance with the word you used "the most unwanted way".

I am very happy staying with my daughter as I get to play and take care of my grandson.

We all are happy with our current arragement. Just because your kids are the selfish, arrogant elites like you, don't judge others.

Please stop being a condecesding elistist fool.

Originally Posted by Unregistered

Your way of retiring is the most unwanted way.. you are compromising your lifestyle and yet you are enjoying it? Renting out your hdb and live with your daughter and you are happy with the rental.. If you are living in your own condo and rent out your hdb as passive income i would say you are great, because you do not compromise anything, life still usual. But staying with your daughter to "SAVE" the 4k rental is terrible idea.. Her life is interrupted and lose freedom if she is married, if she is not, you are barrier to it.. and you are way so proud of your "investment" skills.. Think about it, pls... !!

Originally Posted by Unregistered

It is none of your business to judge other people's choices. You certainly displayed your elitist, snobbish arrogance with the word you used "the most unwanted way".

I am very happy staying with my daughter as I get to play and take care of my grandson.

We all are happy with our current arragement. Just because your kids are the selfish, arrogant elites like you, don't judge others.

Please stop being a condecesding elistist fool.

There are many ways to grow your wealth.. since your hdb appreciated 700k, you could have refinance it and buy a 500k small condo.. using part of the 4k to pay for the installment, which you can stay in.

Is like a middle age man telling his neighbour, I manage my money well. I earn 8k and I get to spend all, because I am living with my parents, they cook the meals, buy the groceries, I dont have to pay rental....

Do not gloat, do not gloat.

Let me share with you the story of Mr and Mrs Tan who were retired.

Like you Mr and Mrs Tan (aged around 58) moved in to stay with their daughter in her new 4 rm HDB flat when she got married. Mr and Mrs Tan occupied one bedroom, her daughter and son-in-law the master bedroom. There was harmony and things were going well. Then the grand children came along, and Mrs Tan found herself useful and was very happy to help look after the grandchildren while her daughter and son-in law went out to work. Her daughter had peace of mind knowing that her children were in good hands, some more they saved money as they do not need to employ a maid.

As you know, good things have to come to an end. The children quickly grew up, and Mr and Mrs Tan became old and not as mobile. The children started to fight for their own space and they started to want their own room.

The son-in-law also started having more stress at work as he held more responsibilities. He found it difficult to talk things out with his wife because the 4 room flat started to feel crowded. Tensions start to build up. He starts to resent the presence of Mr and Mrs Tan

Now Mr and Mrs Tan (aged 70) are starting to feel like unwelcome guests in their daughter's home.

Need I go on?

Originally Posted by Unregistered

It is none of your business to judge other people's choices. You certainly displayed your elitist, snobbish arrogance with the word you used "the most unwanted way".

I am very happy staying with my daughter as I get to play and take care of my grandson.

We all are happy with our current arragement. Just because your kids are the selfish, arrogant elites like you, don't judge others.

Please stop being a condecesding elistist fool.

Originally Posted by Unregistered

Do not gloat, do not gloat.

Let me share with you the story of Mr and Mrs Tan who were retired.

Like you Mr and Mrs Tan (aged around 58) moved in to stay with their daughter in her new 4 rm HDB flat when she got married. Mr and Mrs Tan occupied one bedroom, her daughter and son-in-law the master bedroom. There was harmony and things were going well. Then the grand children came along, and Mrs Tan found herself useful and was very happy to help look after the grandchildren while her daughter and son-in law went out to work. Her daughter had peace of mind knowing that her children were in good hands, some more they saved money as they do not need to employ a maid.

As you know, good things have to come to an end. The children quickly grew up, and Mr and Mrs Tan became old and not as mobile. The children started to fight for their own space and they started to want their own room.

The son-in-law also started having more stress at work as he held more responsibilities. He found it difficult to talk things out with his wife because the 4 room flat started to feel crowded. Tensions start to build up. He starts to resent the presence of Mr and Mrs Tan

Now Mr and Mrs Tan (aged 70) are starting to feel like unwelcome guests in their daughter's home.

Need I go on?

and when there is visitors, whole house is packed and crowded.. son-in-law finds it difficult to voice out to the wife and has to bear with it till one day, got so much pressure at job, went back home see Mr. Tan and Mrs. Tan telling daughter why your husband doesnt spend time with family and exploded and call off the marriage.. this is what usually happens thats y despite having fillial children, parents usually understand and dont want to stay together because a lot of conflicts arise.. worse thing is the son-in-law sees the parents boasting how good he his in wealth management..

Yeah this is true actually. No matter how religious you're or how educated you're, human are still human. It's usually not good idea for the parents to stay with their kid's family or their kids's family with their parents. It just like dogs and cats stay together. The changes of emotional conflict or interest clashes between them will arise exponentially by the number of peoples stay in one roofs. That's the reason why it's actually better to buy a small house enough for your own family member. Once the children grow up and have their own family you must advised them to get their own roof over the head. This is for their own sake of good.

Originally Posted by Unregistered

and when there is visitors, whole house is packed and crowded.. son-in-law finds it difficult to voice out to the wife and has to bear with it till one day, got so much pressure at job, went back home see Mr. Tan and Mrs. Tan telling daughter why your husband doesnt spend time with family and exploded and call off the marriage.. this is what usually happens thats y despite having fillial children, parents usually understand and dont want to stay together because a lot of conflicts arise.. worse thing is the son-in-law sees the parents boasting how good he his in wealth management..

Dont be a fool.

If that scenario happens, then very simple to solve. Sell the HDB flat which by then may be worth $1m and then buy the $70k HDB studio for the elderly. Then invest the $900k in a 6% investment, giving you $54k pa. More than enough to retire. Since the daughter is not filial, make a will that the $900k or so will go to the home for the aged or orphanage, when the couple die.

Or make a deal with daughter - you take care of parents, you will get all the inheritance. Win-win situation.

Originally Posted by Unregistered

Do not gloat, do not gloat.

Let me share with you the story of Mr and Mrs Tan who were retired.

Like you Mr and Mrs Tan (aged around 58) moved in to stay with their daughter in her new 4 rm HDB flat when she got married. Mr and Mrs Tan occupied one bedroom, her daughter and son-in-law the master bedroom. There was harmony and things were going well. Then the grand children came along, and Mrs Tan found herself useful and was very happy to help look after the grandchildren while her daughter and son-in law went out to work. Her daughter had peace of mind knowing that her children were in good hands, some more they saved money as they do not need to employ a maid.

As you know, good things have to come to an end. The children quickly grew up, and Mr and Mrs Tan became old and not as mobile. The children started to fight for their own space and they started to want their own room.

The son-in-law also started having more stress at work as he held more responsibilities. He found it difficult to talk things out with his wife because the 4 room flat started to feel crowded. Tensions start to build up. He starts to resent the presence of Mr and Mrs Tan

Now Mr and Mrs Tan (aged 70) are starting to feel like unwelcome guests in their daughter's home.

Need I go on?