Retiring before 40?

[Perisher]

Sadly speaking, JB is one the lousiest place to stay in Malaysia in my opinion. Those rural areas have better food, scenery and lower crimes rate(in fact much lower). The only good thing about JB compare to other places is that it is near Singapore.

Then live somewhere near JB but rural?

 

[BBCWatcher]

Main concern maybe quality of medical care since you are non citizen, but if you are really unlucky and down with cancer, you can always seek treatment in Singapore.

You can, but it'd be prudent to maintain some "backstop" Integrated Shield coverage. Something like Great Eastern's Supreme Health B Plus or NTUC's Enhanced IncomeShield C, the latter with their Assist Rider I'd advise. Considering that you cannot use Medisave to pay for medical expenses in Malaysia (so far as I'm aware), that backstop level of coverage should be pretty easy to pull off. You'd then need to make sure that you have adequate financial means and/or medical insurance in Malaysia to cover emergencies until you're well enough to hop in a taxi or bus to Singapore.

I'm a little surprised that Singapore's insurers haven't catered better to this market and others like it, with a rider that provides good quality emergency medical coverage and medical repatriation. But the same insurance companies are busy selling rather lousy (and highly profitable) travel medical insurance policies, so that's probably why they haven't introduced good quality overseas medical riders yet.

 

[Perisher]

Maybe can consider to migrate to batam

What's good about retiring there?

 

[Sinkie]

What's good about retiring there?

Cost of living is very very low

Good for those who want to retire with minimum spending everyday

 

[Perisher]

Cost of living is very very low

Good for those who want to retire with minimum spending everyday

But quite inaccessible unless you like beach. If in Thailand or Malaysia, still can reach many places by car/trains.

 

[Sinkie]

But quite inaccessible unless you like beach. If in Thailand or Malaysia, still can reach many places by car/trains.

I think at Batam, $10 sgd can settle 3 meals and also got free World Cup to see

 

[starfish.starfish]

I am only interested in early retirement with current standard of living.
Or slight drop.
Moving to another country for me is too drastic.

 

[swordsly]

I am only interested in early retirement with current standard of living.
Or slight drop.
Moving to another country for me is too drastic.

What is there to do in Singapore if you retire early? Serious question.

 

[starfish.starfish]

What is there to do in Singapore if you retire early? Serious question.

I will let you know when I retire
But my friends and family are here in sg so it will always be my base.
I will travel around for sure but sg will be home.

 

[Perisher]

I will let you know when I retire
But my friends and family are here in sg so it will always be my base.
I will travel around for sure but sg will be home.

Then by sg standard, you are gonna need quite a sum too.

 

[starfish.starfish]

Then by sg standard, you are gonna need quite a sum too.

Yup I hv always done my planning based on these assumptions.

 

[ocs_woodlands]

Slightly off topic - got a source in NTUC says that retirement age will be upped to 64. No news on cpflife changes...

Common sense is unfortunately not common at all.. HardwareZone Forums app

 

[tangent314]

Slightly off topic - got a source in NTUC says that retirement age will be upped to 64. No news on cpflife changes...

Retirement Age just means employers cannot force an employee to retire below this age, so increasing this age is good for employees.


CPF Life won't be affected because it's a different thing.

 

[ocs_woodlands]

Retirement Age just means employers cannot force an employee to retire below this age, so increasing this age is good for employees.

CPF Life won't be affected because it's a different thing.

Yup retirement age makes no difference to me since I am gonna throw letter between 56-60 yo....

I am just worried about cpflife payout dates cis that one will affect my retirement plan.......

Common sense is unfortunately not common at all.. HardwareZone Forums app

 

[starfish.starfish]

Yup retirement age makes no difference to me since I am gonna throw letter between 56-60 yo....

I am just worried about cpflife payout dates cis that one will affect my retirement plan.......

Common sense is unfortunately not common at all.. HardwareZone Forums app

Treat CPF as an additional bonus rather than a fixed component in retirement planning. Less risk that way.

 

[BBCWatcher]

I am just worried about cpflife payout dates cis that one will affect my retirement plan.......

That's a puzzle. If CPF LIFE is going to make or break your retirement plan, then you're cutting things way too close.

You should be aiming for a CPF LIFE Escalating Plan payout starting at age 70, then roll back from that if genuinely necessary (if you're caught short). If that's not your aim point, you're not planning well, if you're able to plan well.

 

[koster]

What is there to do in Singapore if you retire early? Serious question.

If the big "if" u have more than enough $, there's lots to do. And if bored of Singapore, just take a break overseas.

 

[OngHuatHuat]

Thanks for the information.

If u have less than 10 years of membership, it is up to 20k, depends on cause of death or tpd, can be as low as 1k, go read the cover in detail

 

[ExtremeWays]

Thailand criminal rate is not that low too and language willl be a big issue.

Malaysia almost all Chinese speak mandarin/ Cantonese/ hokkien.

One advantage of Thailand is that you can get better quality escort compared to Singapore at a lower price, which I think it should be the main concern for most single males.
Just like Japan Osaka, that city also got several places with high quality xxxxxx. Hee hee....

Play chicken is a waste of money lah....

 

[OngHuatHuat]

Most retirees think the other way though.

Play chicken is a waste of money lah....