FIRE (Financial Independence, Retire Early) Movement

[limster]

Why food so expensive?

tbh you can live a normal life at a fraction of that cost in thailand.

but if u ask me malaysia is still cheaper esp with car.

I fully agree this is expensive. There are plenty of articles about living cheaply in Thailand. I'm also interested in how much to live with a little more luxury in Thailand because I'm more inclined to FAT Fire vs LEAN Fire.

His rental apartment is almost like a serviced apartment concept where house cleaning and laundry services are provided as part of the rental (no wonder so expensive rental for a 1-bedroom). If you were get to this level of service in Singapore or other developed countries, it will cost a lot more- so no wonder he thinks his expenses are much lower in Bangkok.

 

[sohguanh]

I fully agree this is expensive. There are plenty of articles about living cheaply in Thailand. I'm also interested in how much to live with a little more luxury in Thailand because I'm more inclined to FAT Fire vs LEAN Fire.

His rental apartment is almost like a serviced apartment concept where house cleaning and laundry services are provided as part of the rental (no wonder so expensive rental for a 1-bedroom). If you were get his level of service in Singapore or other developed countries, it will cost a lot more- so no wonder he thinks his expenses are much lower in Bangkok.

Can I check does Thai speak Chinese there? Unless is Thai Chinese correct? So isn't language a barrier if one want to retire there? For me if China not so many ppl I prefer to retire there in their village. Note is village not the 1st,2nd,3rd tier cities. At least language is not a barrier and hopefully dialect like Hokkien too. Afterall our forefathers migrate from China so was thinking maybe it is time we go back to our roots.

 

[Gattberserk]

This thread is about FIRE and you are saying you are far or near to FIRE? No achievement as in not enough savings accumulated over years of working for you to attain FIRE early?

No achievement means career progression stuck, at mid 30s still a normal entry lvl engineer. Recently jump to a new co but still no promotion in rank (only abit better pay)

Have savings but that is because have buy any HDB yet. Once HDB comes in can have saving is another big question mark, especially if u are buying a resale as a single.

 

[Gattberserk]

Let me share a bit on Msia since my spouse former Msian. Msia good for car and property but that is only part of the whole picture. Do you know their currency is depreciating throughout the years? Their food cost in comparison to how much they earn is a big gap. So most cook at home. Got car will think got monies pump petrol or do car servicing. These are other factors ppl don't see or never pay attention to. All of them coming into Spore to earn SGD. Just recently her brother 20 year old son quit school come Spore work as carpenter. He told me don't be envious of their car becuz inside their pockets every month is little savings or close to kosong. That is why they need come Spore when young to earn.

I think this video summed up retiring in Msia pretty well:




Whichever it is, there is always pro and con. I did consider 3 country to leave SG for retirement:

1. Msia
Pro: Cheap COL, Proximity, similar culture & food, language, able to buy land as foreigner (even farmland), fun to explore for adventure.
Cons: Depreciating currency, corruption, racism, less safe

2. Portugal
Pro: Cheap COL, Safe, Good and stable weather through the year, English speaking, low entry for long term VISA
Cons: Food that may require adaption, Might be abit too laid back.

3. NZ
Pro: Safe, Good and stable weather through the year, stunning scenery for exploration, able to buy land as foreigner (only for SG and Aussie)
Cons: High COL, Food that may require adaption, Might be abit too laid back, Healthcare accessibility might be an issue. Mild racism. High entry requirement.

*note: Bold represent strong appealing point which many other countries dont offer.


What are your thoughts on this for FIRE.

 

[sohguanh]

No achievement means career progression stuck, at mid 30s still a normal entry lvl engineer. Recently jump to a new co but still no promotion in rank (only abit better pay)

Have savings but that is because have buy any HDB yet. Once HDB comes in can have saving is another big question mark, especially if u are buying a resale as a single.

Assume you forever don't want to marry already then why not take over your parents HDB assume you living with them? Just do a major renovation but I understand the lease is much lesser since one generation live finish. If 35+ I guess you can opt for the 2 room flexi flat. New flat and live nearby parents got proximity housing grant. All these are monies so you need to plan properly once you get the flat you will be further away from FIRE. So now before 35 faster earn more monies if possible as no kids and wife to worry.

 

[sohguanh]

I think this video summed up retiring in Msia pretty well:




Whichever it is, there is always pro and con. I did consider 3 country to leave SG for retirement:

1. Msia
Pro: Cheap COL, Proximity, similar culture & food, language, able to buy land as foreigner (even farmland), fun to explore for adventure.
Cons: Depreciating currency, corruption, racism, less safe

2. Portugal
Pro: Cheap COL, Safe, Good and stable weather through the year, English speaking, low entry for long term VISA
Cons: Food that may require adaption, Might be abit too laid back.

3. NZ
Pro: Safe, Good and stable weather through the year, stunning scenery for exploration, able to buy land as foreigner (only for SG and Aussie)
Cons: High COL, Food that may require adaption, Might be abit too laid back, Healthcare accessibility might be an issue. Mild racism. High entry requirement.

*note: Bold represent strong appealing point which many other countries dont offer.


What are your thoughts on this for FIRE.

For me I rank language quite high as if you cannot speak well how does the other party communicate with you? Be it buying food, work, conversation whatever. My English speaking not so good so go to angmo countries sure lose out. If I don't cook I go restaurant I use finger point what I want to eat? Next would be safety then food. Ppl used to eat rice go angmo countries no rice need to adapt.

Reader put forth 2 and 3 which is angmo countries is it you got relatives there or you used to study or travel there and fall in love with the country?

 

[Gattberserk]

Assume you forever don't want to marry already then why not take over your parents HDB assume you living with them? Just do a major renovation but I understand the lease is much lesser since one generation live finish. If 35+ I guess you can opt for the 2 room flexi flat. New flat and live nearby parents got proximity housing grant. All these are monies so you need to plan properly once you get the flat you will be further away from FIRE. So now before 35 faster earn more monies if possible as no kids and wife to worry.

My mom is selling the HDB to profit it and she will be moving in to her condo with new partner, no more extra room to accomodate me. Basically she kick me out and ask me "bao zhong"

 

[Gattberserk]

For me I rank language quite high as if you cannot speak well how does the other party communicate with you? Be it buying food, work, conversation whatever. My English speaking not so good so go to angmo countries sure lose out. If I don't cook I go restaurant I use finger point what I want to eat? Next would be safety then food. Ppl used to eat rice go angmo countries no rice need to adapt.

Reader put forth 2 and 3 which is angmo countries is it you got relatives there or you used to study or travel there and fall in love with the country?

If the angmoh country is safe and stable / peace, i dun see what is wrong with moving over as long as they speak english (which for Port and NZ are quite profound in english).

Portugal is quite affordable though.

 

[sohguanh]

My mom is selling the HDB to profit it and she will be moving in to her condo with new partner, no more extra room to accomodate me. Basically she kick me out and ask me "bao zhong"

It is ok you are now working grown up already don't always depend on parents. Since got the signal then now quickly source for a room to rent logical? Unless you now 35 can consider the hdb 2 room flexi-flat?

 

[sohguanh]

If the angmoh country is safe and stable / peace, i dun see what is wrong with moving over as long as they speak english (which for Port and NZ are quite profound in english).

Portugal is quite affordable though.

Key is you are proficient with English but not all readers in here is same as you so our consideration would be different isn't it? E.g I am more ok with Chinese and Hokkien so obviously if want to migrate will choose countries that have that both ideally isn't it? Msia is close but their currency really CMI and their ..... so someone in the other forum suggest China or Taiwan hahaha but those two countries too many their own ppl don't welcome old retired Chinese man from Southeast Asian countries.

 

[Gattberserk]

Key is you are proficient with English but not all readers in here is same as you so our consideration would be different isn't it? E.g I am more ok with Chinese and Hokkien so obviously if want to migrate will choose countries that have that both ideally isn't it? Msia is close but their currency really CMI and their ....

Actually why is MYR currency CMI an issue when you already save all your saving in SGD and bring over when the exchange is so favorable?

If you have lets say total 1mil saving now, and u bring over = 3.2M RM. That is a whopping huge sum and it will last you till you die, tbh. The currency depreciation don't really matter at this point.

The one that really suffers from currency depreciation is those young Msian who are working in msia and they still have many years left to live.

 

[Gattberserk]

It is ok you are now working grown up already don't always depend on parents. Since got the signal then now quickly source for a room to rent logical? Unless you now 35 can consider the hdb 2 room flexi-flat?

I never depend on parent, I am just saying I not lucky like other millennial who can always rent out their hdb so they can squeeze into their parent apartment for free.

And worst is I am below average in term of saving and income. Not that it will be dead end but it will difficult at my age. I am trying to plan to move elsewhere out of sg where competitive is not so stiff. (currently portugal is really attractive due to their low entry requirement for long term stay)

In short, I dunwan to be a millionaire just to be able to afford a roof and a car to drive.

 

[dangerdevil]

Guys..I m in thirties..don't really know investments at all. Am I bound to fail as a human?

 

[highsulphur]

Guys..I m in thirties..don't really know investments at all. Am I bound to fail as a human?

Eh..

Not too late to learn about it yourself?

 

[Gattberserk]

Guys..I m in thirties..don't really know investments at all. Am I bound to fail as a human?

I knows nuts about investment until 2021 when i start putting cash into crypto (and lost alot)

I guess its better late than never.

 

[homer123]

I think this video summed up retiring in Msia pretty well:




Whichever it is, there is always pro and con. I did consider 3 country to leave SG for retirement:

1. Msia
Pro: Cheap COL, Proximity, similar culture & food, language, able to buy land as foreigner (even farmland), fun to explore for adventure.
Cons: Depreciating currency, corruption, racism, less safe

2. Portugal
Pro: Cheap COL, Safe, Good and stable weather through the year, English speaking, low entry for long term VISA
Cons: Food that may require adaption, Might be abit too laid back.

3. NZ
Pro: Safe, Good and stable weather through the year, stunning scenery for exploration, able to buy land as foreigner (only for SG and Aussie)
Cons: High COL, Food that may require adaption, Might be abit too laid back, Healthcare accessibility might be an issue. Mild racism. High entry requirement.

*note: Bold represent strong appealing point which many other countries dont offer.


What are your thoughts on this for FIRE.

This youtuber has his bias against Malaysia as he was a Malaysian quitter.. If anyone is doing geo arbitrage , falling currency in your retire country is a big bonus not con!! Again, if a Malaysia is a perfect country like Spore, then Malaysia would have become expensive. It is better Malaysia stay backward so that we can take advantage of it.

 

[dangerdevil]

I knows nuts about investment until 2021 when i start putting cash into crypto (and lost alot)

I guess its better late than never.

Hahah this is not very proud to share about.

I very hate to look into stocks and such (totally had no connections so such stuff)...I think the only thing I do is place FD and buy SSB. But that is very little yield only.

 

[dangerdevil]

Eh..

Not too late to learn about it yourself?

I scare because of my no knowledge I will burn my fingers

 

[highsulphur]

Hahah this is not very proud to share about.

I very hate to look into stocks and such (totally had no connections so such stuff)...I think the only thing I do is place FD and buy SSB. But that is very little yield only.

Why not consider world equity etf to gain exposure into equities in general

 

[limster]

I scare because of my no knowledge I will burn my fingers

I 100% agree. Someone with 0 knowledge in investing basically has 3 options
(1) learn to invest
(2) get someone else to invest for you (eg: many couples, one spouse does the investing for the family as the other has no knowledge, others have a family office to do the investment)
(3) If (1) and (2) are not applicable, then maybe its safer not to invest at all.