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11-08-2015, 09:03 AM
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You can retire now and enjoy. No need to wait until you're 75 to retire. You may not live that long. Nowadays people can die at 50, 55 or even 40.
Quote:
Originally Posted by Unregistered
Age 58, married with two kids
Working as JO with a uniformed service, wife is a healthcare professional
Both of us are degree holders
One 2-bedroom condo in Penang for retirement - $200k
One shoebox condo in Manila for investment - $40k
4 room HDB - $450k
All fully paid.
CPF - 50k
Cash - 30k
No car
No investment or shares, only insurance for hospital costs.
Achieved with my 5k salary over the past 30 years.
Wife earning similar wage which is used to pay bills and other everyday spending.
Retirement plan: rent out both HDB and Manila houses for approx $3k per month and live in Penang for good. With current conversation rate, RM8400 is more than enough for our retirement needs. |
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11-08-2015, 01:45 PM
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Quote:
Originally Posted by Unregistered
Age 58, married with two kids
Working as JO with a uniformed service, wife is a healthcare professional
Both of us are degree holders
One 2-bedroom condo in Penang for retirement - $200k
One shoebox condo in Manila for investment - $40k
4 room HDB - $450k
All fully paid.
CPF - 50k
Cash - 30k
No car
No investment or shares, only insurance for hospital costs.
Achieved with my 5k salary over the past 30 years.
Wife earning similar wage which is used to pay bills and other everyday spending.
Retirement plan: rent out both HDB and Manila houses for approx $3k per month and live in Penang for good. With current conversation rate, RM8400 is more than enough for our retirement needs. |
Encik, you can retire already! Penang is a good choice for retirement. Comparable medical facilities as Singapore's, better and cheaper food, a fair amount of shopping malls and more importantly, an international airport to come home or go for vacation. That is a sound retirement plan if your expenses are low.
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11-08-2015, 05:55 PM
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Quote:
Originally Posted by Unregistered
Age 58, married with two kids
Working as JO with a uniformed service, wife is a healthcare professional
Both of us are degree holders
One 2-bedroom condo in Penang for retirement - $200k
One shoebox condo in Manila for investment - $40k
4 room HDB - $450k
All fully paid.
CPF - 50k
Cash - 30k
No car
No investment or shares, only insurance for hospital costs.
Achieved with my 5k salary over the past 30 years.
Wife earning similar wage which is used to pay bills and other everyday spending.
Retirement plan: rent out both HDB and Manila houses for approx $3k per month and live in Penang for good. With current conversation rate, RM8400 is more than enough for our retirement needs. |
770k not already, but honestly quite low for degree holder.
consider dual income household with 10k monthyl should save more also
why you work as JO when you got degree?
the retirement fund set by the force should be few hundred thousands right?
no car then your cash should be more?
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11-08-2015, 10:12 PM
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Quote:
Originally Posted by Unregistered
Age 58, married with two kids
Working as JO with a uniformed service, wife is a healthcare professional
Both of us are degree holders
One 2-bedroom condo in Penang for retirement - $200k
One shoebox condo in Manila for investment - $40k
4 room HDB - $450k
All fully paid.
CPF - 50k
Cash - 30k
No car
No investment or shares, only insurance for hospital costs.
Achieved with my 5k salary over the past 30 years.
Wife earning similar wage which is used to pay bills and other everyday spending.
Retirement plan: rent out both HDB and Manila houses for approx $3k per month and live in Penang for good. With current conversation rate, RM8400 is more than enough for our retirement needs. |
Commendable effort, though as someone pointed out, seems you are lacking in cash. You are SWO? I think retirement cum investment fund should be close to 500k since you have been working for 30 years?
Anyway, thank you for your service! Wish you all the best for your retirement.
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11-08-2015, 10:57 PM
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Quote:
Originally Posted by Unregistered
Age 58, married with two kids
Working as JO with a uniformed service, wife is a healthcare professional
Both of us are degree holders
One 2-bedroom condo in Penang for retirement - $200k
One shoebox condo in Manila for investment - $40k
4 room HDB - $450k
All fully paid.
CPF - 50k
Cash - 30k
No car
No investment or shares, only insurance for hospital costs.
Achieved with my 5k salary over the past 30 years.
Wife earning similar wage which is used to pay bills and other everyday spending.
Retirement plan: rent out both HDB and Manila houses for approx $3k per month and live in Penang for good. With current conversation rate, RM8400 is more than enough for our retirement needs. |
melayu go stay in malaysia still ok, they will treat you like abang adek.
dont think cina can survvie there, even with rm8400...
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12-08-2015, 09:21 PM
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Quote:
Originally Posted by Unregistered
Age 58, married with two kids
Working as JO with a uniformed service, wife is a healthcare professional
Both of us are degree holders
One 2-bedroom condo in Penang for retirement - $200k
One shoebox condo in Manila for investment - $40k
4 room HDB - $450k
All fully paid.
CPF - 50k
Cash - 30k
No car
No investment or shares, only insurance for hospital costs.
Achieved with my 5k salary over the past 30 years.
Wife earning similar wage which is used to pay bills and other everyday spending.
Retirement plan: rent out both HDB and Manila houses for approx $3k per month and live in Penang for good. With current conversation rate, RM8400 is more than enough for our retirement needs. |
I wonder if this is the norm among the Regulars. Back in NS, all of my Enciks drive and quite a number have weekend homes in Malaysia as well. Hell, even the regulars in their mid 20s own cars.
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13-08-2015, 08:18 AM
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Condominium in the west worth $1.2m.
Cash, stocks & CPF $1m.
Debt free, total net worth $2.2m.
47 & 49 yo married couple.
Can we retire at 55? Health not so good.
We don't mind downgrading or retiring in Msia or Thailand.
Would like to hear good advice from people here. Thank you.
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13-08-2015, 11:17 AM
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Quote:
Originally Posted by Unregistered
I wonder if this is the norm among the Regulars. Back in NS, all of my Enciks drive and quite a number have weekend homes in Malaysia as well. Hell, even the regulars in their mid 20s own cars. |
I too would like to hear more of regulars. I personally think they are overpaid.
Can any more regulars please come forward share their net worth? LOL
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13-08-2015, 04:09 PM
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You can actually retire now. If you convert your $2.2m, you get RM6m. So you're a multi millionaire. You can retire in Penang or KL. Renting a 3 room condo in Penang cost only RM1k pm. So you can retire rich in Penang. Can eat good food everyday.
Quote:
Originally Posted by Unregistered
Condominium in the west worth $1.2m.
Cash, stocks & CPF $1m.
Debt free, total net worth $2.2m.
47 & 49 yo married couple.
Can we retire at 55? Health not so good.
We don't mind downgrading or retiring in Msia or Thailand.
Would like to hear good advice from people here. Thank you. |
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