I got a friend who keep warning me not to gamble into Iskandar properties 7-8 years ago, I went on to buy houses and now has an ideal retirement house. 7-8 years on, he is still struggling and staying in a HDB with no additional income. People like him, I have grown to accept, wont be retiring early.
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Property News
- Thread starter FHBH12
- Start date
I have a friend who insist to stay in Spore. Changed HDB 3 times, now have a 5 room unit. Not interested to move out and as typical Sporean, he think the Government will take care of him for life. Had cancer last year and lost his job. All he has is this 5 room flat.
Even if he rent out the rooms, he still have to stay put in Spore and cope up with the high expenses until dunno when.
His brother chose another path. Bought house some 20 years ago in Skudai. He earned in S$ and bought 2 terrace in KL. He also has a 3 room HDB in Kallang. Now he rent out his unit in Kallang, stayed in Skudai and ride motorcycle to work in Spore. This brother is going to retire next July.
Sometimes life long planning is like that. But if you don't plan carefully in your early days, it might be too late to plan in the later years.
I believe in the 3+1 model. 3 properties for rental and 1 for own stay. The 3 properties will sustain your lifestyle forever while you stay in the favorite one. And when passed on, leave a legacy for the children. Of course, this is talking about 10 to 20 years of foresight and planning.
What age do you consider as early retirement? I want to see if I am on track, or overworked already. I am semi-retired but still working regular hours, going to undertake a big project next year. Thinking if it should be my last.
Nothing to do with your friend having no foresight to buy Malaysia home, he probably just does not want to move to Johor, maybe he is afraid it is not safe, or not as convenient as having all amenities below his flat.
If his flat is fully paid, he can rent out whole flat and just rent in Johor and retire early there, why must buy in Johor and tie down with a 10 to 20 year loan burden? He may still have to work to death to make sure he can pay off the Johor property. Ask him come and see me and get advice in early retirement ha ha ha ha.
For me, early retirement is a scary word. I dread to think sitting down doing nothing waiting for my roll call. I don't want to suffer from dementia. I am a couple of years before qualifying as to get 50% discount on train tickets. I still work on new projects every few months and do not slow down even things are on auto cruise. My business is at a stage where people come to me rather than me looking for business. I am still developing new products for my company to continue operations for many years to come as I would like my employees to continue working for my company even after I retired.
My target for early retirement is 60 with fully retired at 65.
wow, 60 not really early retirement....for me it shd be abt 55 or earlier.
You obviously have not read my retirement thread. Retirement is not about doing nothing. It's about achieving financial independence so you no longer have to work for a living.
Young at heart ma...
It all depends if you are an employee or running your own business.
If you are on your own, you can take leave as an when you feel like it or you can combine business trip with extended holidays.
And normally your children will be fully independent when you hit 60s.
Besides it is never easy to walk away from your own business especially in manufacturing for OEMs.
If that is your defination, I would have retired long ago... lol...(sorry, not trying to be too bashful)
Obviously everybody's interpretation is different. Financial independence is only part of the whole story. To me personally, it is about letting go. Letting go of everything to have peace at heart and enjoy the rest of your life. It is not about having enough money.
It is about smiling thoughts of your kids who had grown up and able to fend for themselves. We bring them into this world, we owe it to them to make sure they can make it on their own. People come, people go. From a business point of view, we owe it to our workers to ensure they carry on working for they also have families of their own. As a human being, we make sure the transition is smooth. That is what I call my way of retirement.
Thanks for sharing, I guess you are making good money that is why your retirement target is quite different from mine. I intend to retire by 55 or latest 60 and look forward to a very rich and relaxing life of exercising in the morning, lunch, rest in the afternoons, dinner, night walks, movies and games, (yes I still play with my playstation almost the big 5 O).
Retiring in JB would be very rich, wake up in the mornings, drive to Malacca for breakfast and lunch and back for dinner, diving in Tioman, and other Islands and shuttling btw Melb, Malaysia and Singapore whenever time allows.
So many things to do and so little time.
Young at heart ma...
It all depends if you are an employee or running your own business.
If you are on your own, you can take leave as an when you feel like it or you can combine business trip with extended holidays.
And normally your children will be fully independent when you hit 60s.
Besides it is never easy to walk away from your own business especially in manufacturing for OEMs.
Yes money is too good LOL! and also sense of achievement.
Some of my Ang Mo neighbours are doing this every weekend while staying and working in JB! The places they have ventured around Malaysia made me feel ashamed. Just a few days ago I overheard them driving up to near the border and took a ferry to Pulau Pangkor and some other ulu islands. Very adventurous.. and a few are comtemplating going to Taman Negara when many Singaporeans don't even know that it exists.
I am a silent reader. But once a while do drop by here and kaypo kaypo.
If my memory serves me right, i thought you have a very negative view of JB. Especially in the properties and security aspects. How come now u mention about retiring in JB?
Only negative for buying, for rental no issues, don't like JB pack and go, no losses and no burdens.
Yes that is what I am looking forward to as well, adventure and living.
Just jump into a MPV with all my gang or family members and drive to find food is one of my favorites. Last I did was to drive to Banting to look for beggar chicken, then to Tg Sepat for Mui choy Dumplings and sea food. Can also buy Dragon fruit from those plantations near Sepang. Or to Lukut for dim sum. You can even drive to Kluang for Loh Mee on the way to Endau. Nibong Tebal seafood is good as well or you stop in Sekinchan. Plenty of things to do in Malaysia.
R u staying in JB now? Do you need to come back to Sg for work? Any children?
When we are young, we have plenty of time but no money
When we are old, we have plenty of money but no time.
Go walking and travelling while your legs can still carry you.
It is not easy to fly 18 hrs to see Grand Canyon, Mojave Desert or watch Celine Dion concert in Vegas.
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No, I am a KL guy.
Puteri Harbour is a holiday home for me.
My son is already 26. Daughter in college. So I am a different kettle altogether from many of you.
That's why many times disconnect from this forum.
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