Early retirement in JB

bakkuttay said:

yes, car is a necessity in malaysia.
was actually referring to the older folks.

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snowbird said:

Then make your old folks or your maid to take up driving lessons in JB, its not expensive.
All they need to know is to drive to the nearby market or makan shops and back, no need to go to highways, just like many local old uncles and aunties.
My friend's maid fetch his and his neighbour's children to and back from school and take his mother to market in his 3rd car.

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freedom said:

Just met the right agent with contacts for max S$6k rental for my terrace house, one is Mediacorp to use for filming and the other to house James Cook university foreign students....hopefully get either one then can have about S$4k net passive income to retire in JB at least for a while!

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Jetstream said:

To re-cap, you've already bought a house in JB but not yet made the critical decision of retiring and moving to JB? And the opportunity now beckons and you intend to make that decision now. Good luck and keep us posted

This year will also be critical for me -- my JB 'retirement' condo will be ready late 2015 or early 2016 latest. I'll need to make the call whether to retire and move in as originally planned when I purchased the unit

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freedom said:

Good to hear that...do share more, r u also renting out Sg properties for passive income? How old r u? Any kids? Which condo and how big did u buy?

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Jetstream said:

No kids; just my partner and me, hence we settled on a 3 bed condo with lifestyle elements (senibong cove). I'm 46. With no kids, we plan to rely on a mix of capital drawdown and investment income from 2 sg condos.

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freedom said:

Was just chatting with my mum....she says her paid-up hdb maisonette that she stays with my elder brother who is single , can rent out for S$3-4k a month. Was thinking if both of them stays with us in JB since we have 5 bedrooms, we will then have S$6-8k a mth which should be sufficient...I can save on paying her her allowance, taking it as rental but my hubby and brother have to agree first....

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sgcount said:

It's really heartening to see many Singaporeans wanting to retire (early) in JB. I guess the general sentiments now is if we stay rooted here, we can't take it easy from work any time soon!

I dunno if you guys mind sharing about how you get the $$$ to start investing or buying properties. Can't be just by brute force saving I guess? I am always learning on ways to plan for my retirement, how to make my money work harder, etc.

I'm not greedy for money in general. Always thought (wrongly!!!) I could depend on the SG government to take care of things for the commoners so long as I do my job well, buy affordable (no such thing now) HDB flat, and can be assured that the government will see to it that my CPF is sufficient for me to retire happy.

However, I got a very rude shock when I realize how badly they handle even the public housing here. I failed balloting years ago for a BTO flat many times, many places resale HDB flats were asking for COV $80-100k, a 4-bedroom in fairly good location costs more than $500k, a price that was similar to a condo not too long ago. And I now also know CPF got to constantly top up while my salary remains pretty much stagnant annually. I can't even see retirement in the next 20 years yet. Now I realize I am separated from the government and see them as running the country like a corporation.

So I wonder if any of you mind sharing like how you manage to amass your financial wealth.... is it from business, playing shares, buying properties (back then when times were good)? For eg, "freedom", you posted you have 2 SG condos. You are the envy of many young people here! I don't think any commoner uni graduate stuck in a typical job can ever dream of even owning a 1-bedroom condo here for a long time to come.

Appreciate your kind sharing!

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sgcount said:

It's really heartening to see many Singaporeans wanting to retire (early) in JB. I guess the general sentiments now is if we stay rooted here, we can't take it easy from work any time soon!

I dunno if you guys mind sharing about how you get the $$$ to start investing or buying properties. Can't be just by brute force saving I guess? I am always learning on ways to plan for my retirement, how to make my money work harder, etc.

Appreciate your kind sharing.

I was from GEP before and am a locum GP now so fortunate to have a fairly good income of S$10k to up to SS15k a month depending on how hard I work so banks r willing to loan me more money.

When I started off, we owned an EC bought in 2001, TOP in 2003, bought for S$500k which we sold in 2010 for slightly more than S$300k profit. My hubby though job is a bit unstable, is a very frugal person so saves a lot and made some money in CFDs with a friend too. Coupled with S$50k my dad gave me when he passed away, we managed to buy a freehold landed terrace near a good pri school for my son's sake in 2010 for S$1.1 mil. Did not think of making money then but property boomed and valuation doubled to S$2mil.

In 2012, we bought a 1 bedder condo with savings from my locum work for S$600k +, with 10% downpayment in cash ie about 60k cash. It was before a cooling measure. We took out an equity loan against my terrace of about $400k to buy the jb semid in 2013. It was also before the TDSR cooling measure. So we were lucky in a way to buy just before cooling measures which would have made it difficult for us to buy...

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sgcount said:

It's really heartening to see many Singaporeans wanting to retire (early) in JB. I guess the general sentiments now is if we stay rooted here, we can't take it easy from work any time soon!

I dunno if you guys mind sharing about how you get the $$$ to start investing or buying properties. Can't be just by brute force saving I guess? I am always learning on ways to plan for my retirement, how to make my money work harder, etc.

I'm not greedy for money in general. Always thought (wrongly!!!) I could depend on the SG government to take care of things for the commoners so long as I do my job well, buy affordable (no such thing now) HDB flat, and can be assured that the government will see to it that my CPF is sufficient for me to retire happy.

...

So I wonder if any of you mind sharing like how you manage to amass your financial wealth.... is it from business, playing shares, buying properties (back then when times were good)? For eg, "freedom", you posted you have 2 SG condos. You are the envy of many young people here! I don't think any commoner uni graduate stuck in a typical job can ever dream of even owning a 1-bedroom condo here for a long time to come.

Appreciate your kind sharing!

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Manhattan said:

May I ask what are the possible daily activities after successfully retired in JB in a big house? Golf, fishing, Taiji, social work, gardening, watch the 1000 episodes soap opera? When retired, it will be suddenly like we have all the time in the world.

Frankly, I have trouble figuring out what are the Meaningful activities to do after early retirement in JB. I don't want to do gardening, and there's only so much golf and fishing I can do. Hope to hear more ideas from seasoned folks here. Thanks.

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freekazoid said:

Start a simple web portal...market, manage and administer as daily activities.....

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freedom said:

Was asking my hubby to do that like start an online business but unsure if allowed in Malaysia...or can we set it up in Sg and access in Malaysia?
For me, I will spend my time with kids, do housework and gardening, swim, go spa, do church volunteering and mission work...if bored or need more money, do some locum work in Sg....

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Legolad said:

View attachment 19051

Hope this helps.

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Manhattan said:

May I ask what are the possible daily activities after successfully retired in JB in a big house? Golf, fishing, Taiji, social work, gardening, watch the 1000 episodes soap opera? When retired, it will be suddenly like we have all the time in the world.

Frankly, I have trouble figuring out what are the Meaningful activities to do after early retirement in JB. I don't want to do gardening, and there's only so much golf and fishing I can do. Hope to hear more ideas from seasoned folks here. Thanks.

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Frodo said:

Be a health freak/guru! Get as fit and healthy as you can...so you can eat as much good food in JB as you can...with moderation! LOL!

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