Retirement in Malaysia - how much RM a month for living?

[awhtc]

I went to JB to settle some stuffs and shop around today. 

I bought many nice Lavender bread at just over S$1 at Bukit Indah AEON and parking was only $S0.70.

Although there is inflation there too, it seems very mild compared to Singapore's.

JB has lots of space, things are generally cheap after rate conversion, people are quite approachable and friendly.

 

[Wt_know]

auntie want to come back liao after cabut for 2 years ....  

 

 

Edited July 5, 2022 by Wt_know

[awhtc]

Sharing my retirement plan related to financials in JB 🙂

The key principles in the planning are: (1) keep costs low in a relaxed environment, and (2) match costs with (a) part-time work and keep me occupied mentally in my 60s, and (b) my CPF Life ERS from 70s to allow the passive income to act as a buffer.

The passive income and CPF Life ERS are already established as of now.  The greatest uncertainty is health.

Please feel free to comment if I missed out anything! 😀

 

 

[awhtc]

By the way, the above estimates are in SGD.

The costs surprised me after adjusting for recent inflation trend as previously I thought I just needed half of it.

[Throttle2]

19 hours ago, awhtc said:

Sharing my retirement plan related to financials in JB 🙂

The key principles in the planning are: (1) keep costs low in a relaxed environment, and (2) match costs with (a) part-time work and keep me occupied mentally in my 60s, and (b) my CPF Life ERS from 70s to allow the passive income to act as a buffer.

The passive income and CPF Life ERS are already established as of now.  The greatest uncertainty is health.

Please feel free to comment if I missed out anything! 😀

 

 

 

i dont know shit about JB, but the costs just sound too low to me leh.

all the best to your retirement plans bro

[awhtc]

2 hours ago, Throttle2 said:

 

i dont know shit about JB, but the costs just sound too low to me leh.

all the best to your retirement plans bro

 

Thanks for reviewing.

I don't spend a lot even now.  My hobbies are reading, doing some light exercises and going for walks around parks.

I will bump the cost up by 20% for contingency and I should have sufficient buffer to do so.

[Throttle2]

12 minutes ago, awhtc said:

 

Thanks for reviewing.

I don't spend a lot even now.  My hobbies are reading, doing some light exercises and going for walks around parks.

I will bump the cost up by 20% for contingency and I should have sufficient buffer to do so.

how old are you now, getting ready to retire very soon?

[awhtc]

26 minutes ago, Throttle2 said:

how old are you now, getting ready to retire very soon?

I'm in my 40s.  Starting to take a hard look at future retirement in various aspects - financial, health and life-goals.

[Throttle2]

16 minutes ago, awhtc said:

I'm in my 40s.  Starting to take a hard look at future retirement in various aspects - financial, health and life-goals.

Good to start early.

I am also in my 40s 😄

[Kxbc]

23 hours ago, awhtc said:

Sharing my retirement plan related to financials in JB 🙂

The key principles in the planning are: (1) keep costs low in a relaxed environment, and (2) match costs with (a) part-time work and keep me occupied mentally in my 60s, and (b) my CPF Life ERS from 70s to allow the passive income to act as a buffer.

The passive income and CPF Life ERS are already established as of now.  The greatest uncertainty is health.

Please feel free to comment if I missed out anything! 😀

 

 

What about rental expenses in msia? Unless you are thinking of buying a place there? 

Doctor fees, telecommunications do not seem accounted for. 

Your transport (I assume it's taxi or grab) cost looks a little low at $10 per day

[Ct3833]

On 7/10/2022 at 3:54 PM, awhtc said:

Sharing my retirement plan related to financials in JB 🙂

The key principles in the planning are: (1) keep costs low in a relaxed environment, and (2) match costs with (a) part-time work and keep me occupied mentally in my 60s, and (b) my CPF Life ERS from 70s to allow the passive income to act as a buffer.

The passive income and CPF Life ERS are already established as of now.  The greatest uncertainty is health.

Please feel free to comment if I missed out anything! 😀

 

 

I don know if you need 6k buffer per month at the age of 70-80, especially during the mid to late 70s, what else could one do other than to see doctors? Anyway if you have 6k of passive income alone, you should be able to  lead a very comfortable retirement life. 

my thoguth is from 60+ to 75, ideally there should be 8k to 10k to spend per month per couple, that should be allow one to own a simple car, some holidays etc. Beyond 75, one can slowly scale back(down), living a more passive life style at home in SGP. Occasional travel is ok. I think 6k per months should be comfortable. 

Edited July 11, 2022 by Ct3833

[awhtc]

2 hours ago, Kxbc said:

What about rental expenses in msia? Unless you are thinking of buying a place there? 

Doctor fees, telecommunications do not seem accounted for. 

Your transport (I assume it's taxi or grab) cost looks a little low at $10 per day

 

Yes.  I already have a fully paid house in Johor.  Hence, rental = $0.

You are right on the doctors fee for outpatient treatment and Internet => I will add another $100 RM for each.

I will be getting a second hand Toyota to drive around, so the transportation is pure petrol and maintenance.

[Voodooman]

On 6/20/2022 at 10:14 PM, awhtc said:

I went to JB to settle some stuffs and shop around today. 

I bought many nice Lavender bread at just over S$1 at Bukit Indah AEON and parking was only $S0.70.

Although there is inflation there too, it seems very mild compared to Singapore's.

JB has lots of space, things are generally cheap after rate conversion, people are quite approachable and friendly.

 

JB inflation is mild compared to SG? I thought it is very jialat. Everything goes up like 10-20%. 

[Wt_know]

11 minutes ago, Voodooman said:

JB inflation is mild compared to SG? I thought it is very jialat. Everything goes up like 10-20%. 

we see from 1 to 3.15 perspective of course sup sup water ... lol

yes i agree with you msia inflation is sibei jialat 

not just JB ..... other cities like KL, Ipoh, Penang also up up up ... 

 

Edited July 11, 2022 by Wt_know

[Mkl22]

2 minutes ago, Wt_know said:

we see from 1 to 3.15 perspective of course sup sup water ... lol

yes i agree with you msia inflation is sibei jialat 

not just JB ..... other cities like KL, Ipoh, Penang also up up up ... 

 

And when it becomes 1:4 and 1:5 it will buffer whatever inflation rather well. 🤣

[inlinesix]

24 minutes ago, Voodooman said:

JB inflation is mild compared to SG? I thought it is very jialat. Everything goes up like 10-20%. 

JB is a bad place for retirement (despite being close to Singapore).

Its cost of living is driven up by Singaporeans and those working in Singapore.

Need local to tell where to eat/buy like local

 

Edited July 11, 2022 by inlinesix

[Throttle2]

3 hours ago, awhtc said:

 

Yes.  I already have a fully paid house in Johor.  Hence, rental = $0.

You are right on the doctors fee for outpatient treatment and Internet => I will add another $100 RM for each.

I will be getting a second hand Toyota to drive around, so the transportation is pure petrol and maintenance.

Are you Malaysian?

[awhtc]

On 7/11/2022 at 7:20 PM, Voodooman said:

JB inflation is mild compared to SG? I thought it is very jialat. Everything goes up like 10-20%. 

 

After the exchange rate...