Tag: singapore malaysia couple
What’s It Like For A Singaporean To Be Living In Johor, Malaysia? Let’s Find Out Together!
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
Hey guys! So guess what? You know that we've
been doing a road trip right, from Penang all the way to Johor, so we are now sitting
in my friend's house in Iskandar Puteri in the state of Johor. So this video is going
to be a little bit different than all our previous videos because this is just a casual
conversation between two friends talking about the differences between living in Malaysia,
Singapore and this is my friend Sox who's a Singaporean. Here's a fun fact about Sox, okay.
She is the first woman Commanding Officer in the Singapore Artillery, so that means she's
pretty famous in Singapore, guys. I guess. So hi everybody, I'm Sox, I'm a Singaporean living
in Johor and I've been living here for the last 6 months. Sox, so why did you decide to move here?
Okay so I think the key thing here, as you can see, it's the physical space.
You know it's like coming
in here, driving into the estate, really is like wow just so much physical space and with the physical
space comes emotional space. It just opens up. Oh what do you mean by that? So in Singapore,
you know, everybody is going about their life and everything, you know, even though I haven't, have
not been working right and but with my mom and the helper and all you know like activities just
keep going on, it just like you don't have a lot of emotional space so this gives me that openness
to like oh okay, morning you can hear the birds, you know, evening you can see the sunset, morning you
can see the sunrise, just running around the estate, you know, greeting people in the morning.
It's like it's different. Whereas in Singapore even though I go and run, you know, and I don't I see
people that I see often running along the canal but there's no like hi morning, you know, it's like
everybody is on a mission, I'm finishing this run etc etc.
So it's, so the kind of emotional space
is just very rigid. Rigid, very you know, I mind my own business, you mind your own business and we
done. Yeah, I mean, Singapore has always been the do do, do. That's right. Yeah so I think it's not just
the physical space but the the emotional space and then also it gives my mother the space right. She
gets to do whatever she wants. Gallivanting, you know and you know, morning she goes for exercise,
afternoon she goes for her afternoon activity. She feels a lot freer without, you know, having to
cater maybe to ask me having dinner, having lunch, you know things like that.
She handles her life
basically and I handle mine, you know. It's, I think, that gives everybody that the space and also peace
of mind. Yes I think to me, it's really space, you know, to be able, to yeah, to be able to be me, you
know, to be able enjoy the little things in life. If I'm not wrong, this house is situated in
a golf course right? Yes and that's the reason why we chose it. Okay. The golf course is just
like 4 minutes drive away, you know, and I play golf right, so it's no brainer to get a, to get
a place right next to the golf course.
And what facilities are there? There is swimming pool,
yeah, there's also a gym, right at the golf, at the clubhouse. Okay and all this is part, like
do you have to pay to be a member? How does it work? Yeah so you pay to, you pay to use. Okay. Per
time or per month? Yes per time. Pay to, so pay to use the pool, the gym and also the golf course?
Yes. Ah so actually it's pretty good. There's no obligations or there's no long-term commitment
in that sense. Yeah. Oh this is the first time I've heard of something like that cuz usually like,
we went to the golf course in Ipoh right, it's a it's a membership.
Yeah so this one also has
a membership. The only difference is they also allow people who walk in. Okay yeah I guess
to maintain the golf course. Yeah. Can you share any more about the house? It's a lovely house.
Yeah so this is an Inter Terrace. Okay. You can park cars outside, there's four bedrooms,
one downstairs which is like, I think it's a Granny's room and then three upstairs.
And
how many bathrooms? In total three bathrooms. Wow okay. So the grand question. How much is it per
month? You guess. Wah lau ask me to guess ah. Okay. RM3050 per month. Way less. So to take you out your
misery, it is actually RM2300 a month. Wow this insane! So Sox, it has been 6 months. How do you enjoy JB so far? Well other than the space, it's the makan lah. Of course, of course. Yeah, yeah so guess what? In
the last 6 months that, you know, we've been here, we don't have to cook a single meal. Really? Yeah. So
every time is eat out and it's, it's good food okay. I mean the price is of course, you compare to
Singapore, it's way way cheaper but I think it's the quality of the food. Okay. The Taste.
Tell us more, tell us more on this. Yeah like you know, you simply, you go to any coffee shop right
you'll find a dim sum and the dim sum quality, it's like what you get in restaurants in Singapore, you
know.
It's different lah, it's just lovely. And your surrounding area, because we drove quite deep into
the estate, how where's the nearest hawker centre or kopitiam? The nearest kopitiam is actually about maybe 2 minutes drive out at the other end because you came in by the main gate. Oh I see. So there
is a back gate, okay. Okay so about 2 minutes ooh okay. So we have very good dim sum down there. We
must go and eat okay. Can. Wow so just by food alone right, how much do you think you save every month
in Singapore dollars? At least 50%. 50%! Yeah and we only, we don't just only eat the hawker food, but of course
hawker food is like damn nice okay, but occasionally we'll go restaurants.
Japanese restaurant, have
steak, Italian restaurant and all. Yeah so it's 50% and it's easily available around your estate
right? Right. So you don't need to actually go into Johor Bahru town to go and get your food right?
Yeah unless I'm going there to buy something, I don't have to go there. So the surrounding like
Gelang Patah, you know, I can't remember the places name. Yeah, we can get a lot of good food and good
stuff. Hey so Sox, I know one, I know you, I'm sure you have done road trips in Malaysia already
right? For sure, for sure. So where have you been? So we went up to KL, Gentings, Ipoh, Penang and also this place called Sekinchan. Yeah we were just there. Yeah so we've done a couple of road trips and
I think the beautiful part about, you know, we are on this side of the Causeway right, we just tsk and go. Whereas when we have to meet our friends, they have to cater in additional hours to meet us.
Yeah
the keyword is hours, not 1 hour. It's hours cuz the Causeway now, the jam is quite insane, you know. Yeah, especially I mean, even though we set off early in the morning, the difference is still at least
2 hours. Yeah ouch. I'm so glad I'm in Penang. Yeah so you know, and then going up there and you
can actually hire cars yeah, private hires and and go. You don't even need to bother
about driving even. That's true. Yeah so then you get there, Grab is so so convenient these days
right. Of course you don't stay in places, you know, you stay within town area and all this yeah
very easy. You know what we should do? We should do a road trip to Terengganu. All of us, that'll be fun!
That'll be fun. How has it been shopping in Johor as compared to Singapore, do you miss anything?
Like can you find everything you need in Johor? Okay so I'm a very simple person right, so the things
I need, basically I find here.
Of course except for like gourmet ice cream. You know, occasionally you want special like Movenpick, Udders, Creamier, they don't have this kind. Yeah, because that one Singapore of
course will have. I think for me, I miss Fair Price the most cuz you know, Fair Price right, so big,
everything is so neatly stacked. Then everything I want, they have. So that yeah, I really miss Fair
Price. Yeah I think what is on a lot of people's minds right is the safety in Johor, cuz I myself as
a Penangnite, I also have that question right. Can you share more about your experience so far? Indeed. So every time I tell people, you know, I live in JB this is the first question they ask me is how is
the safety? Yeah so I don't know, you know, it's probably it's rumors whatever right, okay, really
the estate that we live in, it's very very safe. So it has a outer ring, you know, guard and then,
every individual estate also has its own guard. And when like, when you came in right, the guard will call me to see, to ask if I was expecting visitors.
Okay. Yeah so only when I say okay then
you come. Okay what about like say, when you're traveling for your restaurant food, hawker
food right, what's the sense of safety that you get? I mean it's really a lot of common sense.
Don't anyhow put your phone all over the place right. So generally, you know, and also
because we also dress casual, slippers and all to blend in, yeah so I think generally, I don't see any issue
at all you know. Okay that's a good, that's a huge relief, I would say, cuz I think a lot of our
viewers may have that concern.
I mean, I certainly do, like I and I've been a victim of snatch theft twice
in Penang in the past 20 years ago, so I do have concerns about safety whenever we're traveling to
a new state in Malaysia. So thanks for that. Yeah so I mean, there are some of the neighbors that we
talked to, sometimes they don't even lock their gate when they go away. For like when they drive
out? No, not just drive out, like you know, go for holidays and all. Ha? Even in Penang, we don't do
that. I know right. It's like, you know, quite unusual. For me I thought it was quite unusual but they
do do.
And then when they come back, nothing happened? Nothing happened. So Sox, you seem very happy and well settled here already, 6 months only. So what are your long-term plans? Well I guess you know,
JB seems like quite a viable plan with the cost and everything right and it's also nearer to home
because my mom is growing old right. So you know, for the next couple of years probably still
very nearby then later on, you know, in the longer term maybe 3 months here, 6 months there. I don't
know. Okay. We'll see what happens. Awesome cool! What would you say to people, specifically Singaporeans
who might be even thinking of moving here or even retiring here? Well I'd say, if you actually, if you are
still working and if you work from home most of the time, this is not, this is really good because
you got a lot of space, you know, not cooped up, you know, doing all the zoom and all this.
I think this
is a very good option okay and you don't have to travel in and out daily. Cost wise, you know,
like food already save half, rental and whatever it's no brainer. Okay if you are thinking of
retiring okay, like me who has got a lot of hobbies, I got space to practice my saxophone, I
can do my wood work, I can take up hobbies, now learning TCM and all, like there's just so much
space to do it and at so much lesser cost. Yeah the end of the day, it all comes back to space and
cost. Yes. Yeah so not just space and in terms of cost, you can really stretch your dollar. Yeah
because the Singapore dollar now, what's the exchange rate, Sox? I think it's 3.42 or there about around
there. Do you know when I first came to Singapore 13 years ago, the exchange rate was 2.34 and
I thought wow so much already! Yeah it's already $1.10 more. There you go guys, just a casual
conversation between two friends about Johor and life in general and that's it from me, Fran from
the Corporate Breakout Couple.
Please Like this video and Subscribe to our Channel to join our
YouTube family! See you in the next video! Bye bye!.
Singapore: Your Ideal Retirement Haven Unveiled! Here’s Why
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
Why is Singapore one of the top choices for
retirement? Huh? Really? Isn't Singapore one of the most expensive cities in the world? Hello!
Sky high property prices and ridiculous car prices with COE shooting through the roof! So
why would Singapore be considered one of the top choices for retirement? As we Singaporeans
always say Sure boh? Well before I set some context to today's video, a short introduction.
I'm John,
one half of the Corporate Breakout Couple. In 2020, my wife Fran and I retired young in Singapore and
we love making retirement videos. Okay, let me set some context. First, I'm addressing Singaporeans and
Permanent Residents and because this group of people will have no issues staying in Singapore
for the long term. For foreigners without PR, I'd like to share with you some reasons in today's
videos why you want to make Singapore your Top Choice as a retirement destination.
And that
means of course getting a leg into Singapore first working here, getting your employment pass
and then getting your PR and then eventually getting your Singapore citizenship. Allow
me to share with you the beauties about my beloved Singapore. For one, we have world-class
infrastructures and amenities. For example the transport system. The public transport system is
amazing from the buses to the MRTs, they're so well connected and very nicely air conditioned and very
clean as well. Number two: Safety and Security. That is something that we should never ever take for
granted, even though Singapore has a low crime rate. Remember low crime doesn't mean no crime.
Number three: Singapore is a cosmopolitan city and diverse in culture. As a foreigner, you will
feel right at home here. Number four: Singapore is a clean and green city, one of the cleanest in
the world. Look what's going on behind me. People are cleaning up the beach voluntarily. Number
five: Racial harmony.
Singapore has many races and multiple religions and Singapore has
done a great job to keep everyone living harmoniously. I would like to talk about the cost
of living in Singapore. In today's times, the perception of Singapore Incorporated, that's how
we call it, is that it's a very expensive city to live in. That may be true from outside looking
in but for Singaporean and PR who's working and living here, it's important to have context with
respect to your earning capacity, your salary, with respect to your quality of life which is your
basic needs and your wants, and importantly with respect to your purchasing power in Sing dollars.
If you actually dive in into the numbers, you'll find that there's certain cost categories that's
pretty affordable such as your public transport and your Hawker food. If you are Singaporean or PR
earning $5,000 SGD every month and the cost of a unlimited bus and MRT ride card cost $128 SGD,
that's only 2.5% of your total salary. What about Hawker food? You can find meals going
for three to four SGD and that's a very small percentage of the salary.
What about cooking
at home? Cooking at home can be really economical as well and you can find everything in Fair
price and Cold Storage, whatever you need. As much as Singaporeans don't want to admit it, the cost of
basic needs is actually not as high, with respect to the average household income. So is it really
as expensive as what we are complaining about? Let me tell you something. What I really believe
is it's the lifestyle inflation that's causing all this talk and I'm talking about hipster cafes..
can you live without traveling every quarter, half yearly or every yearly? Can you live without your
restaurants, your Japanese, your Italian food? That is the lifestyle inflation that's causing all
this talk.
What about housing? It's true housing can be pretty expensive in Singapore, even
for public housing like HDBs. HDB prices are no longer starting at $100,000 to $200,000 SGD
but going for $400,000/ $500,000 SGD. However as a Singaporean, I know that much of your property
loan can be serviced by CPF, which you cannot take out anyway and the government gives a lot of
subsidies for first timers and not forgetting, most importantly the prices of property in
Singapore generally goes up so you're holding an item of value.
Therefore, your top three expenses
your transport your groceries and food and your housing which is mostly serviced by your CPF, they
are actually pretty low percentage of your total income. In today's video, I actually like to cover
some technical aspects about Singapore, namely the financial stability and strength and the
geographical location and I'm doing comparisons because I've been traveling around together with
my wife, going around the different places and looking at different retirement destinations
and I will still name Singapore as one of the top choices.
Singapore is a Global Financial Hub,
growing from strength to strength. Our pro business environment, our regulatory system which is very
effective, our infrastructure that supports all that and attraction of top talents substantiates
that. For that reason, we have attracted lots of high net worth individuals into Singapore.
For example Ray Dalio, founder of Bridgewater Associates, one of the largest hedge funds and
we have Google co-founder Sergey Brin, they set up Family Offices here during and after
the pandemic. And we also have high net worth individuals who have converted to Singaporeans
like Eduardo from Facebook, you have Li Xiting, you have Forrest Li, who are from China.
We have lots and lots more bringing more money into Singapore. It's no wonder when the Singapore
Government released their Securities and Bonds, the demand is so strong from your MAS bills, your T
Bills, your Singapore Savings Bond and lots more. And they are all solid AAA ratings. All that is
pointing to Singapore being a safe haven for your money. One of the important aspects of this video
that I would like to cover is the Sing dollar currency strength and the purchasing power.
This is
one of the important things for you to recognize as a retiree in Singapore, holding Sing dollars. You
know that your dollar will work really hard for you because of the strength of purchasing power
that you can buy whether it's for imported goods or traveling around, so this really supports your
retirement lifestyle and your means. I'd like to share with you some charts on the foreign exchange
between Sing dollars and other currencies like your US dollar, Japanese Yen, Aussie Dollars, your
Pounds and how it has performed, to share with you why our Sing dollars has increased in purchasing power
over the years. Let's look at Sing dollars versus Malaysian Ringgit which I'm pretty sure Singaporeans
and Malaysians are familiar with. This is the last 20 years chart starting from 2003 which the number
the Sing Dollars to Ringgit, it was at 2.20.
Today, it has hit a high of 3.50, one of the highest. So you
can imagine the appreciation that that Sing Dollars have strengthened against Ringgit just by 20
years. For those of you who are old enough, you'll know that Sing to Ringgit was actually at par which
is one to one in 1980. Here's the Sing Dollars against Aussie dollars, one of the major currencies
for the last 20 years. The earlier 10 years from 2003 to 2013, you can see that for Aussie Dollars
it's stronger than Sing Dollars around 0.8 on average with the exception of Lehman Brothers, the
Great Financial crisis period in 2008/ 2009 after which you can see that from 2013 onwards, there is
a steady increase. Steady increase of Sing Dollars appreciation against Aussie Dollars to around 1.1, almost 1.15 today. How about the performance of Sing Dollars against the other major currencies?
So for the last 20 years, this is the chart for Singapore Dollars against British Pounds.
In 2004/
2003, it was around 0.31, 0.32 and has gone up to over 0.6 today, almost double. And what about Sing
Dollars to Euros? That was around in 2005, around 0.5 now it's around 0.7 against Euros. What about
another major currency Yen. In Japanese Yen, in 2003 was around $1 SGD to 62 Yen. Now is around $1 SGD to 108 Yen, 109 Yen. So the appreciation for the last 20 years has been very drastic and major for the strengthening of
Sing Dollars. What about Sing Dollars against the Greenback, which is the US Dollars? So in 2003/2004,
it was around 0.6 and hitting a high of 0.8, 0.82 around 2011, and then normalizing to around 0.7
to hovering around the range of 0.73, 0.75 for now. So why has Sing Dollars not appreciated against
the Greenback as much? Well that's because USD is currently still the world's Reserve Currency.
Based on data from IMF as of Q2 2023, they are at 58.88% market share and what that means is
countries of the world are holding their foreign exchange reserves in USD. That's why the US Dollar
continues to be the dominant currency with Euros at a distance second at almost 20% and China RMB
is 2.45%, still miles away from USD.
And what that means is when the US Federal Reserve prints money,
the rest of the world follows along because USD sets the precedence. How does the dynamics of all
this currency impact you as an individual, in terms of inflation and the eroding of your currency?
Now let's look at this chart. This is the Federal Reserve debt from the Central Bank of USA and how
much debt they're holding till date. Starting from 1971 when the gold standard was taken off when
President Nixon decided that, you know, US Dollars are going to be backed by the Government, that's
when fiat currency was born and you can see debt has started to increase steadily, linear actually,
until around 2007/2008 and what happened was the Global Financial crisis, the housing crisis where
Ben Bernanke, the Federal Reserve chairman decided to go heavy into quantitative easing, printing of
money heavily, you can see from a debt of around 9, 10 trillion, this is trillion not millions, trillion
all the way for the last 10-15 years till around 32 trillion as of today. And what that means is
inflation has severely increased because of the debt incurred and that eroded your purchasing
power all around the world.
You know, Fran and I talk a lot about inflation and quantitative easing,
about money printing and all the different money dynamics in the world because we feel there's a
need to raise awareness in this world, in terms of financial literacy and that's one of the key
reasons why we started our Breakout Academy. Talking about finances, talking about breaking free,
breaking out the rat race and talking about early retirement because we really like to help people
to find their feet in this world so that they can then make powerful choices for themselves. Do
check out our Breakout Academy. I will advise you to not look at Singapore as a single retirement
destination. The world is our oyster. Traveling is the way how we can gain experience and really open
up our eyes.
What am I talking about? For example Singapore is an international hub, a regional hub
for businesses. For example your Finance industry. Do the same for your retirement as well. Use
Singapore as your hub so that you can go around the region especially Southeast Asia like Malaysia,
Indonesia, Thailand where you can stay for 6 months, one year, I mean depending on the visa requirements,
but use Singapore as a hub so that you can really explore all the different destinations in your
retirement life.
That brings me to my next point: Diversification. When you travel frequently and
you're exposed to different countries, different cultures and let's say their stock exchanges, their
housing market and all that, you will feel more inclined to want to invest in the different places.
Why? Because when you diverse across countries, you diverse across currencies and different assets
that actually hedges your risk and reduce your Risk of Ruin. So Singapore is actually in a perfect
sweet spot position to dance with the rest of the International Community and the Government
has done a fantastic job to do that, so that we stay very up to date, very up to tuned and our Sing
Dollars holds its currency strength and continue to strengthen actually, for us to improve and
increase our purchasing power to stay strong and relevant.
And as a retire in Singapore, your savings
and Investments are protected here in Singapore and you really get to stretch your dollars and
as the Singapore government is doing a great job to grow Singapore economically, strength to strength,
you will continue to enjoy a stronger purchasing power. Many people feel very stressed living in
Singapore because of the fast-paced environment. However, you think about it, that is true for
any metropolitan city that's very competitive. However if you are retiree or early retirees like
Fran and I who have Time Freedom, you have plenty of opportunities to explore different aspects of
Singapore in a very slow pace, comfortable, taking public transport everywhere with no rush
and there's no crowd like East Coast Park today, at the beach, there's hardly anybody and we
get to really go to different shopping malls, enjoy our time to explore Singapore.
What
about cost? Actually in Singapore, you have lots of choices. For example coffee. It can be as
cheap as $1+ Dollar in a local kopitiam or Hawker Center or you can go to Yakun and Toast
Box with slightly more expensive about $2 Sing Dollar or if you really want to splurge for
specialty coffee, it can go as high as SGD6-7, it's really your choice.
The point I'm driving at is, don't limit yourself. Create your llfe by your own design. Think out of the box. Singapore can be your home base for retirement but you also can have multiple regional bases for you to enjoy other countries as well. And perhaps for those of you with kids, you can retire early as
well. Think about this.
When you're in your 50s, your kids would have grown up. You can also enjoy
your life to the fullest and think out the box and you don't have to restrict yourself to only
one locality. Given a choice, would you consider Singapore as your top retirement destination?
I'll like to hear from you below in the comments section. Do comment the reasons why you would or
would not! We hope you have enjoyed a different point of view about Singapore today. Do hit
the Like button and Subscribe to our YouTube channel to join our YouTube family. See you in
the next video. If you interested in breaking out of the corporate 9-5 rat
race or embark on your early retirement journey, do check out our Breakout Academy,
where we'll support you further on your goals.
Traditional Retirement Versus Modern Retirement
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
One would certainly assume that the early retired life.
is all regarding sitting by the beach and sipping mojitos. The job is done and you.
can unwind as well as not do anything for the rest of your life. Well as an early retired person, I like.
to claim or else. In a means, it seems that layoff gives you at all times in the.
globe to look at the sea mindlessly for all eternity. If that is the instance for me, I don'' t think. I ' m gon na last long in this early retired life video game. I ' m not chatting concerning my cash
running out. I ' m speaking about my health as well as peace of mind going out. Don ' t you assume a retirement like this will. just be rotting your mind as well as decaying your body? I'' m John from the Corporate Breakout Pair. My.
wife Fran and also I retired 3 years earlier and now living in the beautiful island of Penang.In today ' s
. video, allow ' s
have a conversation about the key distinctions between standard ways of retiring.
There'' s.
a cup of coffee which set you back about 20 cents, 10 cents as well as kaya toasts which was it and they might exist.
like that for several years since life was simple. Hey hey yet now in 2023, life isn'' t this way any longer.
isn'' t it? In our grandparents and also moms and dads period staying in that one job is a big success.
as well as something to be very pleased with. If you'' re in banking, the bank will look after you for the.
remainder of your life. If you remain in a large MNC, the MNC will care for you for the remainder of your life,.
provide you an excellent golden handshake and also probably in many cases, there are some pensioners.
. For them, working until old age was a no-brainer. They recognize that their retirement.
future is secured. Secured by that? By the company. Everything is currently all prepared out and also all.
they require to do is just be an excellent worker and work until their old age as well as then they can.
take the happy retirement.Back then it was fine all right for them to simply excel in just one. thing and also one point just, due to the fact that why would certainly they require to discover a lot of things anyway? The.
globe was simply passing quietly as well as there'' s no requirement to upskill on your own for anything. Your.
retirement was already taken treatment of. In today'' s world, exactly how modern-day retired life appears like,.
it'' s really different. Here are 3 key distinctions which we are mosting likely to highlight to you. Primary.
Inflation.When our moms and dads
and also grandparents drew a retirement payment, say 20 years back, were they prepared. for this level of rising cost of living that ' s took place in the last years approximately? Well rising cost of living really showed. up in the last years approximately didn ' t it? Specifically during the last three pandemic years. Did our. retired folks in fact have a strategy for such circumstances? Considering that the worldwide economic situation that. occurred in 2008 as a result of the Lehman Brothers collapse, there ' s been crazy levels of cash. printing, measurable relieving by the reserve banks of the world and also with the ridiculous level of. cash publishing that ' s been taking place as well as trillions of debts are sustained by the United States as well as the globe. Don ' t you think the worth of currency has been eroded badly? It doesn ' t matter what currency. you ' re holding.It can be United States Dollars, British pounds Japanese Yen, Sing bucks, Malaysian
Ringgit. Your 1 dollar is no more worth the like 10 to 15 years ago. And also in 1971, when the gold. standard, when gold is pegged to US Dollars was raised by Head of state Nixon from the United States,. fiat currency was born which indicates the money that ' s only backed by the federal governments of the globe. and that enables federal governments and also main banks to publish money excessively. And what does that mean to. you men? With this level of rising cost of living as a result of the cash printing, that actually affects your purchasing. power in any type of component of the globe so if one million dollars sufficed for moms and dads and also grandparents. to retire back after that, it sure ain ' t enough for today '
s times, not to mention 10, 20, thirty years from currently. We can not keep our heads in the sand and also act that all is well.Gen X is the following upcoming. generation in the following 10 to twenty years who will certainly be retiring and they are encountering a bleak retired life. horizon. Oh wait that ' s John and my generation. We know lots of people our
age or older that.
are just not economically all set in all to retire. They have not started any kind of retirement. intending in any way.
For you to have a successful modern retirement, you need to take control. of your economic future and that begins now. 2nd vital difference remains in way of thinking. When. you retire commonly, when you quit job
, you quit job completely. I ' m not referring. to offering at philanthropic companies or participating in social tasks. I ' m. chatting regarding not staying on par with existing events even like as an example staying up to date with. the monetary markets, staying up to date with what ' s going
on worldwide as well as currencies as well as. inflation and all that. In such a way, it ' s type of like setting up store isn ' t it? Once you retire. typically, you just tackle
your regimen, the same points day in and also day out, you fulfill the. very same friends, watch your TV and also sort of you know, just go into a complete laid-back lifestyle. Absolutely nothing brand-new can be found in as well as nothing new heads out. In today ' s contemporary times, the finest way on your own. to maintain abreast with what '
s taking place in the world, the present events, is to take an active. approach.In order to do that, you need to take on an open-minded strategy to find out continually,. to wear the white belt as well as be constantly a student. The third essential difference: Tech disturbance as well as social. media. Because the internet boom from the late 90s the net has changed points permanently as well as there. are generations now that in fact endured their whole life without understanding there wasn ' t an. net prior to. In today ' s existing day and also age,
technology keeps developing and also altering our lives in every. method. AI is the talk of the town now. Not long ago, it was blockchain and also cryptocurrencies. And also allow ' s not neglect concerning social media.It keeps advancing constantly. Individuals are obtaining. their information from social media feeds like from Facebook, running searches on points they desire. to understand on Tik Tok as well as even getting on to new applications like Strings as well as if you are someone that. has retired 10-20 years earlier, it ' s truly tiring to keep up. You understand, to actually change from being.
In today ' s modern-day retired life, you constantly require to be on your toes and also keep abreast. Music]
Penang is really simply a beginning.
as our intention is to circumnavigate the world. And also presume what? We did precisely that. That ' s because we. established our purpose and tackle executing it
. Factor second. Take continual activity. We did a video.
not long earlier called Ready Fire Objective and also the important things that are quiting you from taking constant.
action. Do go as well as see that since that would be truly valuable for people specifically who are.
fearful regarding taking their initial steps. And ultimately, always remain in discovering mode, remain in development constantly,. be a student of others and stay open-minded. We hope we ' ve dropped some light on modern-day retirement. as well as the factors resonated with you. Simulate this video as well as Subscribe to our YouTube channel to.
join our YouTube family.See you quickly!.
Retire Early in Singapore, Can or Not? Secret Hacks Revealed!
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
Lots of years ago I made use of to operate in one.
of the offices at the white structure. The workplace got on the 21st floor so it had.
lovely sights of the Singapore landscape as well as architecture and also when the sun.
collections on the Singapore River, it was just magnificent. Sadly, I appreciated none.
of them due to the fact that I was also active functioning. Singapore being among the most pricey cities.
worldwide is definitely not a very easy location to retire in. In today'' s video, we are going to. explore the possibilities of an early retirement in Singapore. I assume it'' s fair to say that for. foreigners who has actually not lived or operated in Singapore prior to, it is a big stretch to be able to retire below.
in Singapore. Today for my fellow Singaporeans and also PRs, how much do you think it sets you back for you to.
retire early in Singapore? Keep tuned to learn. Hi every person, I'' m Fran and also he ' s John as well as we are.
the Company Outbreak Couple.If you are new to the channel, John is Singaporean, I'' m a Malaysian. Singapore public relations and we retired in 2020 in Singapore. We are so honored to be able to call both Penang.
and also Singapore our residences. To all our subscribers, welcome back as well as for everybody please Like.
And also Sign up for our Network and also to all our videos to make sure that you wear'' t miss out on a solitary among.
them. As somebody who has actually lived as well as operated in Singapore for the last 13 years, I freaking love.
Singapore! Why wouldn'' t'I? You recognize, it'' s effective, it ' s clean and there ' s so lots of things to
perform in. Singapore.So if I'feel in this manner, I ' m sure a great deal of you'individuals feel this method as well. I ' m sure a whole lot. of you like Singapore as well as you like living below. Okay let ' s jump right in.
For my fellow. Singaporeans and public relations, I rely on that you understand the day-to-day rates in Singapore. If for one reason or another.
you are blur like sotong as well as strange, do view my Cost Of Living in Singapore Component One on Standard.
Demands and Sequel on Needs. There'' s an essential difference in between working and also retiring early in.
Singapore. The distinction depends on your invested also known as your expense. When you are retired, you can.
pay for to get hold of the best offers during off-peak periods and also with time on your hands, you can intend.
your everyday commute and after that travel easily and also reduce transport costs. You also have the.
deluxe of time to prepare routinely, consume much healthier and also consequently save money on food prices. In today'' s video,. I ' m particularly going to focus on the top 3 expenses in the Singaporean/PR ' s regular monthly budget plan.
which are your Transport, Food and also Holiday accommodation. Let'' s chat about the something that everybody.
concerns regarding: your finances.If you ' re in addition to your funds and you know your numbers at the. tip of your fingertips, I truly believe that is a very essential action towards early retirement. Out. of the leading three usual expenditures for Singaporeans as well as Public relations, 2 of them, which is particularly your transport. which is automobiles and your accommodation, which are residential or commercial properties contributes to the city ' s hefty cost. tag of being one of the most expensive cities in the globe. Having said that, we can not mark down. the costs of food either as they can be pretty pricey in our city. The top 3 expenses do. sound pricey and the typical false impression is that you need to work till 65 prior to you can. also think about retiring. Hmm, maybe not. Well if you genuinely believe today that you can retire. early in Singapore, for instance at the age of 40 or 45, and you stay convicted on your course and also your
. goals, I think that that is half the fight won. Allow me show to you a secret.
If you can. manage your top 3 expenditures wonderfully, your transportation, food, accommodation, you.
stand a wonderful opportunity at retiring early. The essential inquiry is, what are you ready to. sacrifice in order to focus on early retirement? For instance, are you going to take down. your way of living by a notch or 2 briefly and also function harder than common in order. Let ' s tackle the first group transportation
. On the other hand, Singapore ' s. You don ' t require a personal car, you wear ' t demand to.
Let ' s talk concerning
the second category, Food!. As an early retired person, you ' ll.
Now. cooking in the house in Singapore with high top quality components isn ' t that costly.
Count on me, I. know. I originated from Malaysia, it ' s really hard to eat tidy and consume well in Malaysia as is very
. pricey yet in Singapore it ' s really rather affordable.You can blend your diet plan in with hawker. food and as we all recognize the Singapore government has taken discomforts to press down the hawker prices. since they want to keep a cost degree for everyone. As an ex-hawker myself, we.
comprehend and we understand it ' s really uncomfortable for the hawkers to press the prices down and also maintain. things economical, so you individuals are really fortunate due to the fact that hawker food in Singapore is still rather. cost effective. So when you ' re early retired, you have all the time in the globe to go as well as visit your fave. hawker and provide them your support.Just by food preparation at residence with high quality active ingredients and also the. periodic hawker food, you actually conserve a great deal, in regards to your food prices. I know that because. when I used to be at the workplace, I spent a whole lot on my morning meal and also lunches, suppers, team beverages and. etc, which accumulates
. And also with the cash saved, you can designate a part for your pals
. when they call you over the weekend break for some cafe, restaurant food and also you can do all that.
and also enjoy on your own without breaking the financial institution. Allow ' s discuss the third group- Accommodation.
which is properties. We Singaporeans and also PRs, we such as to stay on par with the most up to date news, on whether it ' s. public or personal properties. Most of us know that in the last years, rates have been rising in.
The'Singapore Federal government has actually introduced several air conditioning. Well when there ' s a will,
there ' s a way.Let me. Prior to I begin sharing, I ' d like to welcome you to pay attention with an open mind as well as an open heart.
it ' s a married pair', both three decades old, after that they both have an income, allow ' s state for one decade of.
SGD6000 for basic wage. SGD18,000 for the year-end bonus or AWS, which works out to be annual wage.
of SGD90,000 each year. Prior to I proceed, we ' re going to do a quick switch to the CPFwebsite to. check out the CPF payment for'this income. this is the CPF website for the simulation of the. one half of a pair based upon the contribution. The most up to date contribution based upon SGD6000 of standard. salary as well as for the'year-end performance bonus offer
SGD18,000 divided by 12, that ' s SGD1500. Let ' s. determine how much the total CPF payment will be. It exercises to be SGD2775 each month. Keep in mind. that this is for OA, SA as well as Medisave combined.Okay this is the married couple,
after that they purchased. a four space HDB either by BTO or resale. You can get a very nice resale system and even a BTO that is. quite large, that has 3 bed rooms as well as this is a HDB car loan that they take for,
based on a housing. finance qualification, which exercises to be 80% loan, 25 years and also 2.6 percent per year as well as before I. proceed, allow ' s have a look at the straightforward mortgage calculator on just how much the loan will certainly be each month. for these 25 years.Here ' s the home mortgage calculation for the SGD500,000 HDB. We ' re mosting likely to take a 80% financing, which is SGD400,000 and then we ' re going to utilize a 2.6 %per year for HDB lending at 25 years for. the tenure, this works out to be SGD1815 monthly. And also as I ' ve worked out for you, SGD1815 servicing.
with your CPF OA for your month-to-month home mortgage. Here ' s a short article from Seedly SG that reveals you.
how much CPF an ordinary Singaporean has. The number that I ' m utilizing for the objective of this video is 35.
Keep in mind that this CPF is the overall amount which consists of. And for the SGD220,000 for overall CPF, this is the split we ' re going. 10 years later, in the year 2023, congratulations
.
You ' re mosting likely to market it, you ' re going to get a brand-new four space HDB maybe from the. resale market at half a million dollars.You do not inflate your way of living as well as you keep your HDB at. SGD500,000. This is the small business loan that you ' re mosting likely to take 80% financing. You can'still take 25 years at exact same. rates of interest 2.6 percent per annum and this works out to be your home mortgage amount of SGD1815 and also you ' re servicing with your CPF OA. This slide is where the magic is mosting likely to take place. The mixed OA as revealed you earlier, SGD272,800, your new 4 room
HDB which is SGD500,000. These are the computations for your. deposit. 20% which you ' re going to solution utilizing a CPF OA hundred thousand bucks,
your legal. and stamp fees which can be paid by your OA as well roughly around 2.5 percent, which exercises to. be'SGD12,500. So the overall CPF OA they ' re mosting likely to utilize to service this half a million dollar. four room HDB is SGD112,500. Your balance OA, you minus your SGD272,800 minus'SGD112,500, that exercises to be an equilibrium of SGD160,300 as well as your month-to-month maintenance as shown. you earlier is SGD1815 and what this suggests is, the variety of years your cpf balance OA that you can. use to service your home loan is going
to be 88 months, which functions out to be 7 years and 4. months as well as what that suggests is you do not require a solitary money needed to service your mortgage. due to the fact that your CPF OA can last you for 7 plus years. Well if the numbers I ' ve revealed you earlier has. Started to excite you, I actually sanctuary ' t come to my secret hack. So what ' s important is. you actually need to recognize how you can not just lower your accommodation prices yet you likewise desire. to make your cash job actually hard for you. This is a residence hacking strategy that ' s extremely. preferred around the world.It is actually called home hacking. What do you do is really basic. You rent out one to two of your bed rooms while you ' re staying in the 4-room HDB as well as you know, in. today ' s market as well as I wear ' t think I
require to show that to you, each room can lease for at the very least. one thousand bucks each. Naturally, if you do the needed improving and a bit of hosting.'Now,. you still need to fulfill your five years sponge, so it ' s alright because you can still remain in it. as you are owner right, as well as also as for real estate tax, you wear ' t have to pay more since it ' s owner occupied. So rather than attracting down monthly money after you web off all the home costs, your energies,. your conservancy, your internet, your home tax obligation and also your family things, you will certainly
in fact draw. up internet positive capital. Just how fantastic is that? Are you all set for residence hack number two? After.
you are recently retired, what you'require to do for hack second is to hold your residence for the.
first five to seven years prior to you sell again. It meets 2 things.The initially one is your MOP. period,
which you need to hold for a minimum of 5 years before you can sell your HDB.
What that suggests is, after you pay the down payment and the customer stamp obligation using your CPF OA, you and your spouse ought to have sufficient OA to last you for an additional cycle of 5 to 7 years or also more. In this section, I ' m going to present to you the. I ' m covering on.
Basic Demands just in the following groups – Food, Household Groceries, Transport, Accommodation and also Medical care.
For this spending plan build, I ' m making use of an extremely similar template to my previous video Price.
Of Staying In Singapore Part One, where I cover on Fundamental Needs. Please view it if you haven ' t.
So. for this Food Category, one month- 15 days of eating in restaurants as well as 15 days of'eating in, so there will
be. added four meals a month which is mosting likely to neighborhood restaurants as well as heartland malls. For. eating in restaurants at Hawker stalls mostly, it costs SGD20 daily for morning meal, lunch, supper and also an additional. kopi, overall cost for the food classification 15 days of eating in restaurants, it works out to be SGD300.15 days. of consuming at house with a cost savings of 25% versus eating in restaurants, that brings you the number of.
SGD225 dollars and 4 dishes a month of neighborhood restaurants or heartland shopping centers SGD25 times 4, SGD100, brings you to a total of SGD625 bucks each month. For your House Groceries, this includes your basic. necessities on your own and also for the family costing SGD60 monthly for one half of a pair. for Transport, it will certainly cost SGD128,
as discussed earlier for unlimited bus, MRT trips. For holiday accommodation,. home loan is currently covered by your CPF so no charge here, building tax obligation, family energies,. Conservancy charges, net and also your personal handphone as well similar to Cost of Staying in. Singapore Component One, this brings you to a total of SGD246.Healthcare will certainly cost you SGD250. It is necessary to be covered, even when you ' re early retired including fundamental health and wellness insurance policy, life. and important health problems as well as hospitalization plan. Going to the doctors is no much longer covered by.
Allow ' s make it also extra interesting. Now let me show you the revenue from residence hacking if you ' re. Your expenditures which you require.
to net off, including your Conservancy, it ' s a sunken expenses, your real estate tax it ' s a sunken price,.
your web is a sunken price, you need to pay a bit much more for utilities SGD100, a little'little bit.
If you ' re eager to lease out two of your spaces to bring. Currently let me do some credentials over here.
This. budget plan is simply based on Basic Requirements and also no Wants. Certainly, as people, we want to have Needs. We wish to eat much better, we wish to circumnavigate, intend to get a brand-new apple iphone. I understand. Do note that. You could not need 5 to seven years, it can be simply.
you can time flexibility to do whatever you desire. You understand, life in itself is a game. Layoff. is likewise a video game and also with all games, you need to know 2 things- the policies as well as just how to win at the video game. As well as with all games,
not every video game might be appropriate for everybody. If you really feel that this game is not. for you, that ' s perfectly okay. You put on ' t have to play it. However if you ' re really truly sure that, yes. this is a game that I wish to play as well as I want to follow the rules as well as win it, you have to be all set
. to reserve your excuses.Excuses such, as I ' ve obtained commitments like my kids, my aging parents and also. various other big commitments. And that ' s all right, you can have your reasons, but you need to be eager to establish.
those apart as well as concentrate on the game, which is to win. Of course, if you are moms and dads with kids, there are. bigger financial dedications however it doesn ' t indicate you can not retire earlier than 65. The trick. is to be open to the opportunities of early retirement than shutting the door entirely. when you use your kids however, as the excuse for not chasing your dreams. If you are.
viewing this and you ' re in your 20s and 30s, fantastic ! This is the perfect age for you to. begin intending your early retired life as well as if you ' re in your 40s and 50s, no concerns, all hope.
Is not lost. To us, we claim yes!! Of training course, having said that, if you are not willing.
to do the job as well as make a change and also'leave your convenience area, then you can neglect around. retiring in Singapore, a lot less retiring early. Uh Oh! Now you must be believing- Oh I wan na act, I intend to go out my comfort zone but just how?Have no concern, go and watch our Ready Fire Purpose video.
that we launched a few video clips back and also you'' ll comprehend just how to obtain out of the 3 things.
Bye!.
Early Retirement in Singapore.. How Does This Singaporean Couple Spend Their Days?
Harvey 0 Comments Planning your Retirement Retire Wealthy & Wise Retiree Tips and Tricks
Hey every person, we are back in Singapore! We love.
Singapore so we spend our time in Penang as well as also in Singapore as we are so honored.
to call both positions our house. So just how does retirement resemble in Singapore? I wager you.
what comes to mind in the beginning is probably old individuals in a kopitiam drinking coffee, gossiping with.
their close friends or they are simply staying at home due to the fact that Singapore is simply so costly.
right? You wear'' t desire to spend a whole lot of cash, particularly when you'' re retired.
In this. video, allow us to take you to a trip on just how our life in Singapore looks like as an early.
Pair. Please Like this video clip and also Subscribe to our Channel so that you don ' t miss out on any of. Welcome to Toast Box!
Just joking! This is a standard Singapore. morning meal and we love having a morning meal like this every single time we ' re in Singapore. Singapore. is an extremely stress city so as a result we such as to slow down points down and also have a long. leisurely breakfast at Salute Box and there ' s rarely anyone around because they ' re all at. job. You know, the teh( tea) in Salute Box is actually great! Very fragrant and milklike so we such as. to combine it with kaya salute and also eggs.
[Songs] Welcome to East Shore Park, among our favorite. haunts in Singapore. Fran and I invested a great deal of time, specifically in 2021 during the lockdown,. To come right here as well as be connected to nature, to go for lengthy walks so that we can. ourselves as well as also get some workout also.
These breathing exercises.
aids me to focus myself and also helps me to concentrate on the day ahead. These walks by East Shore really
. profited us in numerous methods from the fresh air to the sun to obtaining exercise and it actually.
assists to commence the rest of the day. [Music] Back when I was working in Singapore, I never. As for me, I made use of to drive all the time. Now I get.
world. Truly I ' m not joking. It is so so excellent as well as it ' s located at my office back in the past.
and each time we ' re in Singapore nowadays, I will absolutely drag John to consume a scrumptious dish of.
benefits right here. The area is so tiny for that reason, it ' s always impossible to obtain a seat, therefore we.
constantly come early. Yay!! We ' re heading to Duxton Hillside for dinner and presume what? Behind me is.
Chinatown where our Hawker Stall made use of to be. We do come right here rather often because the food is.
really good. So this is the area when we wan na eat really good Japanese food.There ' s a reason that we are. below frequently at Mitsu Bar. Not just do they offer up wonderful top quality Japanese food, they likewise use. superb advertising
discount rates which we ' ll show you later on. We like this place because the. seafood is always so fresh,
the aburi sushi is so tasty and the wagyu beef melts in your mouth. And also the omakase collections are truly worth
it also. Just how much do you assume a Japanese dinner like. this will cost? Typically an eight-dish supper will cost around SGD200 for a setting similar to this.. For tonight ' s supper, this is just how much it costs SGD94.45. That ' s half the cost. Why. would certainly you want to pay full price for something, when you can obtain a'. fantastic price cut for the specific very same product? The deals are available for you to. grab it, much like possibilities in life. Welcome to Haji Lane! John as well as I, we.
I ' ve been coming to Haji Lane. There ' s lots of great restaurants as well as watering.
You recognize,. Singapore has so numerous shopping malls. What do we usually do in the malls on a weekday?
we typically clock greater than 10,000 steps strolling around the shopping centers, after that there ' s shopping. You ' ve got.
consuming snacks, seeing movies, playing swimming pool. The listing is endless. It ' s constantly great to obtain out of the.
home to see the most up to date growths of Singapore. Singapore moves very quickly so there'' s always.
As well as I like comparing all the various prices at.
Investing time with my moms and dads, my siblings and their household in Singapore is a must. I utilized to invest only weekend suppers with.
Currently I can truly have high quality discussions with them with. And of program, we additionally have common collections of friends which we love to hang out with as well as have. Team of good friends and also mutual ones.
Music] [Music].
