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Thread: My plan to retire in Malaysia soon

  1. #2001
    Newbie

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    Default Re: My plan to retire in Malaysia soon

    Quote Originally Posted by mummy View Post
    I actually didn't want to sell my MM but hubby kept making noise about the S$88k absd and difficulty managing tenants so gave in to his incessant nagging.

    Oh well, option yet to be exercised. Let's see...we can always buy REITS. Less hassle and prob better returns and smaller capital outlay and hence lower risk.
    IMO, your hubby was right to insist on getting a 3 bedder freehold replacement. cos it's very risky to have just one house in JB and nothing else as a store of value.

    selling the MM to save on the ABSD is also OK.

    Buy back another MM (which is cheaper, say at 600k) and pay the ABSD of 7%. Still nett savings. (600k x 7% = 42K vs 1.25m x 7% = 88k, nett still save 46k overall).

    Btw, did you manage to get the ABSD remission?

  2. #2002
    Ultimate Underdog

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    Default Re: My plan to retire in Malaysia soon

    Now no more 7%, only 12%.

    Quote Originally Posted by tonymontana View Post
    IMO, your hubby was right to insist on getting a 3 bedder freehold replacement. cos it's very risky to have just one house in JB and nothing else as a store of value.

    selling the MM to save on the ABSD is also OK.

    Buy back another MM (which is cheaper, say at 600k) and pay the ABSD of 7%. Still nett savings. (600k x 7% = 42K vs 1.25m x 7% = 88k, nett still save 46k overall).

    Btw, did you manage to get the ABSD remission?
    The three laws of Kelonguni:

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

  3. #2003
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    Default Re: My plan to retire in Malaysia soon

    Quote Originally Posted by Kelonguni View Post
    Now no more 7%, only 12%.
    yes, i forgot. i guess its not worth to get one now. here's hoping they don't bump it up any more. it's getting crazy

  4. #2004
    Junior

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    Default Re: My plan to retire in Malaysia soon

    Quote Originally Posted by tonymontana View Post
    IMO, your hubby was right to insist on getting a 3 bedder freehold replacement. cos it's very risky to have just one house in JB and nothing else as a store of value.

    selling the MM to save on the ABSD is also OK.

    Buy back another MM (which is cheaper, say at 600k) and pay the ABSD of 7%. Still nett savings. (600k x 7% = 42K vs 1.25m x 7% = 88k, nett still save 46k overall).

    Btw, did you manage to get the ABSD remission?
    Yes, we managed to get the ABSD remission of S$88k.

    Now, we have a Sg freehold 3 bedder condo. I have been working less these last 2 years too. Since, hubby found a good job the last 1 year, I can afford to rest a bit more for now.

    The JB semid now vacant, we have been spending short vacations there every 3 mths. Hubby spent much effort fixing up the house. But I don't want to rent it out anymore since yield is so low, might as well keep it as a vacation house. I enjoy the food and friendly neighbourly interactions when I visit.

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