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Topic Review (Newest First)
Today 05:48 AM
Unregistered 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)
Yesterday 09:26 AM
Unregistered
Quote:
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.
Yesterday 08:12 AM
Unregistered 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.
Yesterday 08:02 AM
Unregistered 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)
07-12-2022 06:02 PM
Unregistered
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!
06-12-2022 11:17 PM
Unregistered 34m 200k pa (base + annual bonus)
As Software architect in MNC
06-12-2022 06:46 PM
Unregistered
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?
Awesome plans. Great strategies. Looking good, solid and smart. Keep us all posted on your retirement progress with any new retirement plans or goals. Show us what you got man. Wanna see how freaking retired, happy and chill you can get. Thanks for the motivation.
06-12-2022 05:41 PM
Unregistered 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?
02-12-2022 09:25 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Why did you tie up your capital in a 1.1mil condo when you could've bought a more modest HDB to begin with and invested your cash in equities? You would've had over $2mil in retirement funds by now.
Maybe he had kids earlier and theyíve moved out by now so can downsize?
02-12-2022 06:40 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Hereís my retirement plan when I reach 55 in a couple of years. My net worth is tied to my condo (fully paid up) and CPF. No other investment.

First, I can sell my condo for $1.1 mil
Second, buy a 4 room HDB flat for $450k
Get cash $650k. Put in fixed deposits to get $20k pa in interest

I will spend $3k pm ($36k pa) in retirement from age 55 to 65, total $360k over 10 years. Income from interest and drawdown from fixed deposits account.

At 65, I will collect $2.5k pm ($30k pa) from my CPF Life. My CPF OA is about $200k, can generate cash of $5k pa. Fixed deposits $10k pa. Passive income $45k pa. This is more than enough for food, utilities, health care and public transport for one retired person.
Why did you tie up your capital in a 1.1mil condo when you could've bought a more modest HDB to begin with and invested your cash in equities? You would've had over $2mil in retirement funds by now.
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