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Thread: My plan to retire in Malaysia soon

  1. #1981
    Junior

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    Quote Originally Posted by Kelonguni View Post
    If really honest to yourself, got debt or no debt, you still won’t stop working.

    Best to sell only when you can’t work anymore. Moreover, your hubby just found a good paying job. So may not be the most optimal move.

    Keeping two or more properties will also help to reach bungalow level faster than one single Freehold condo. My opinions only.
    Maybe it was a bit rash to sell my landed terrace. We had some arguments then and I had thought he didn't want to pay his share of the mortgage anymore. Our cash to come up with for paying was quite a lot cause for the terrace, we did not use cpf. I was also working less. If he really did not want to pay, almost all my income would have to go towards servicing the mortgage which is not sustainable.

    The thing is I would like to work fewer hrs or semiretire as I am rather tired and burnt out from work, so we have to downgrade.

    I think my health is more important than his dreams. And why should I stress myself to achieve his dream. How about my dream?

    I don't want to live half my life fulfilling my dad's dream which was for me to be a Dr. And the other half fulfilling my hubby's dream. I want to fulfil my own dream and promise to God. If not I think if I die, I won't go to Heaven but to Hell instead....

  2. #1982
    Ultimate Underdog

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    Quote Originally Posted by mummy View Post
    Maybe it was a bit rash to sell my landed terrace. We had some arguments then and I had thought he didn't want to pay his share of the mortgage anymore. Our cash to come up with for paying was quite a lot cause for the terrace, we did not use cpf. I was also working less. If he really did not want to pay, almost all my income would have to go towards servicing the mortgage which is not sustainable.

    The thing is I would like to work fewer hrs or semiretire as I am rather tired and burnt out from work, so we have to downgrade.

    I think my health is more important than his dreams. And why should I stress myself to achieve his dream. How about my dream?

    I don't want to live half my life fulfilling my dad's dream which was for me to be a Dr. And the other half fulfilling my hubby's dream. I want to fulfil my own dream and promise to God. If not I think if I die, I won't go to Heaven but to Hell instead....
    Well said. For personal reasons, it is a very valid one. Wish you all the best in this.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  3. #1983
    Junior

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    Anyway, touchwood for saying something like that. Just realised this is the 100th page of my thread! Calls for a celebration!

  4. #1984
    Junior

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    I guess God is telling me I am not ready to spread His gospel in a Muslim country. And MM2H also disallows that. And that He wants me to do His work in Sg first. I joined Trinity at Paya Lebar for the last 1-2 years. Gotta know some really nice people in my cellgroup. In fact, it was through my real estate agent befriender that the Pastor assigned to me that I managed to break lease after just staying 3-4 mths in a rental condo unit. Replacement tenant is from church too. Her work place is far away but she was willing to help ad the rental condo is quite near mrt. So sweet of her. Praise and thank God for His blessings.

    If not landlord could have come after me for not fulfilling my 1 year lease.

    The person who bought my terrace is a New Citizen Phillipino with local Chinese wife.
    Landlord of my rental condo is a New Citizen China lady.

    I think all these NC getting very rich. No wonder they want to be NC.

    Hopefully, our original citizens don't get left behind.

  5. #1985
    Junior

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    Anyway, on this 100th page, I would like to share something I found out recently which will be good for those above 50 years old and looking to retire in Malaysia.

    Ta dah.....

    The Sarawak MM2H scheme....

    Apparently, it is less stringent than the usual MM2H in terms of financial requirements.
    For those above 50 years old only.
    Need to get a local Sarawak person to sponsor.
    And best, can live anywhere in Malaysia.

    Go read up about it and do yr own due diligence hor.

    But if what I read is true, there is hope for ordinary Sgpn to retire early in Malaysia!!! Hallelujah!!!

  6. #1986
    Ultimate Underdog

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    It might be weird, but I kept telling Singaporeans to go private if they are able to afford it.

    Some listen, but many love their HDBs to bits and are difficult to convince.

    The game is now 80% in NC courts already.

    Quote Originally Posted by mummy View Post
    I guess God is telling me I am not ready to spread His gospel in a Muslim country. And MM2H also disallows that. And that He wants me to do His work in Sg first. I joined Trinity at Paya Lebar for the last 1-2 years. Gotta know some really nice people in my cellgroup. In fact, it was through my real estate agent befriender that the Pastor assigned to me that I managed to break lease after just staying 3-4 mths in a rental condo unit. Replacement tenant is from church too. Her work place is far away but she was willing to help ad the rental condo is quite near mrt. So sweet of her. Praise and thank God for His blessings.

    If not landlord could have come after me for not fulfilling my 1 year lease.

    The person who bought my terrace is a New Citizen Phillipino with local Chinese wife.
    Landlord of my rental condo is a New Citizen China lady.

    I think all these NC getting very rich. No wonder they want to be NC.

    Hopefully, our original citizens don't get left behind.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  7. #1987
    Insights Advocator

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    Quote Originally Posted by stl67 View Post
    Actually with inflation, it is always good to be in debt. Of course the debt must be put to good use.

    I have always been in debt since day one. Only once have a 3 month FD as I only need the $$ later.

    I still remember one year the inflation in SG went up quite a bit (remember that year when rice was in shortage worldwide, i think it is in 2006 or 2007). The best thing that works for me that property price went up and at the same time owe so much $$ to the bank.

    I have to say I did not plan all these but when I look back, I know it was a good to be in debt. The feeling is like you borrowed 1mio but due to inflation, you actually only borrowed 950k.
    To be real 'money smart' (some will no doubt call me stupid), it is to use someone else (bank) money to buy things you want at the lowest possible interest (cost). If you have other investments that can give you some returns to curtail those borrowed money, you are literally buying things (hopefully of appreciating value or assets) for 'free'. That is the power of leverage and what a wonderful opportunity the GFC has given us in the last 10 years due to QE. I have rammed up so much debt to gain the maximum leverage for all the assets we have invested in, there is no doubt that in my 30s, one of the 'best move' I have made financially.

    It is interesting to find someone longing for retirement in their 40s. I have no intention of gearing down to keep my mind going and I am approaching 40 in 2 years.

    2 cents,
    PropVestor

  8. #1988
    Junior

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    Health risk and retrenchment risk r there so I prefer to deleverage now in my 40s.

    Anyway, main goal is financial freedom.

  9. #1989
    Newbie

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    sorry, I don't mean u r a senior citizen. 40s still young can afford to take calculated risk.

  10. #1990
    Ultimate Underdog

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    Quote Originally Posted by mummy View Post
    Health risk and retrenchment risk r there so I prefer to deleverage now in my 40s.

    Anyway, main goal is financial freedom.
    Good emotional decision but not a good logical one in my opinion.

    In the end still not that much freedom cos still have to work and money trapped in fully paid properties that cannot be deployed or sold.

    Debt free does not equate financially free. With children, the road is still very long...

    Freehold terrace is great for land appreciation and low maintenance, and MM is optimal for rent collection. The previous state was ideal and equity term loan from either property would help you access emergency funds if you needed.
    Last edited by Kelonguni; 24th October 2018 at 07:03 PM.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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