Singapore Cost of Living is through the roof Malaysia Exchange Rate is in Singapore's Favour Mr Loo's Retirement Plans are shifting towards JB! Tele Channel: t.me/Loo1M65
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@Margerat-x The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
You don't know what you're talking about lah. I am a 75yo retired senior. Expenses is the lowest in my life. That's because as you grow old, you don't desire to buy material things, don't eat much, lose interest in travel..... In fact the highest cost item to anticipate would be medical (treatment for serious health problem)
At age 55, we will downgrade our 5 room to 4 room end of this year. Might change to 2 room flexi when our kids move out from our house. We will get at least 2500(or 3000, with 4xbrs) each per month at age 65. Currently we spend less then 2000 per month for basic household necessities and will continue to live like that for many years. We spend a lots on traverling. Singapore is an ideal retirement place for us.
One medical operation 70k , cos u don't want to wait in gov hospital. Health will definitely throw a spanner at your plan. Unless u decided to not change money with life span
I think when we reach a certain age, we will not have so much of an appetite especially if there are health issues. Expenses are no longer high as kids have all grown up and no more loan. Living in Singapore is really so much more convenient and simple. Everything is walking distance if you stay near town Center. Having a house in both Singapore and Malaysia just complicate our lives. We only need one home. Most of the time older folks nowadays prefer to die at home. My thought toward retirement is just Keep It Simple. Don’t need to over analyse.
Totally agree with you. Also my daily expense on meals is only $3-5 per day in Singapore. Everyone is complaining about the rising cost of decent healthy meals in Singapore. But making meals at home is still cheap and affordable.
I lived in JB and commuted to work every day for almost 14 years from 2001 to 2014: Let me tell you, u may find the space and cost of living attractive, but frankly, if you are used to life in Singapore -- safety, friends, healthcare -- you will never be fully comfortable in JB as a full-time home to you. I, like you, thought of everything you said... I even got the MM2H visa. In the end, I came back to Singapore for good. You are right about one thing though: Never ever buy a property in JB; renting is the way to go, cos if u buy, you'll have a very very hard time (I would say impossible, actually) cashing out if u need an exit strategy.
I think the difference is Loo is going to retire in JB, so no need to commute daily. The traffic and distance is a put off if u need to travel two ways 5x a week.
Mr loo, thanks for yr outline n advice. I lived, Malaysia n I love JB. I live in woodlands, it takes me half hr to reach JB. I'm thinking of renting a condo in JB n rent out my house in woodlands. Good idea Right.
Please do not keep saying that JB is very affordable. You are earning in Sing dollars and spending in JB. Did you ever think about those ppl that work in JB, and live in JB. Do you know how tough is their life ? A egg in Singapore cost around 35 cents but an egg in JB cost around 80 cents ringgit. Be grateful that you are earning Sing dollars and you can choose to move to a cheaper country for retirement. By the way, US cost of living is definitely highly than Singapore. Not only Switzerland.
I don't understand how malaysians keep complaining about small ticket items like cai fan. (btw i found one costing 2RM) when without conversion, their housing is 200k rm for freehold landed, vs 500k sgd for a pathatic 3 room flat in singapore. Our CPF is maxed out and earing 0% interest, while we pay the interest longer, the malaysian would have already paid up his landed, and have extra 300k to pay for your 80cents egg.
MM2H Programs are keeping changing: We got together with our friends and decided to settle in JB in one evening, but a few days later learned that we have to buy a property also..!! In our age we don't like owning a property and keeping it for 10 years - Most of us would die before 10 years ending, jesssss!!
Wow S$9000 / month for 2 old people and you say it is just ok! Be happy be with what you have, roof over your head, food in your tummy, money to last your lifetime, good health. U dont need branded goods, luxury cars,big houses, starbucks, bubble tea and feasts every day. Bad for your health.
My friend and his wife were from Malaysia. They had acquired Spore citizenship. Once they considered to go back to Malaysia for retirement. After careful consideration about the security and the bias attitude toward Chinese. They threw the idea into the dustbin.
Agree on all your points! I have invested a property in JB and have the same retirement plan. RE: traffic jam, Woodland checkpoint has plans to expand by 5 times and QR code replacing passport will reduce time. Also Johor-Singapore Economic Zone will kick-off soon which will make connectivity better.
Mr. Loo, awesome episode! You made our eyes and ears opened wide! Hope the rest got the inspirations from your experience and make their moves to Johor Bahru and other parts of Malaysia, getting the best out of both worlds. Malaysia welcomes all !❤
I totally understand what u presented in this video, I used to be very skeptical about JB, but I changed my impression totally after really spending sometimes to explore, to blend into the life, to know more friends there, ended up me, my sis, my cousin, some friends all bought a holiday home there, my sis even bought a Malaysian car, my 2 neighbours are from Sg also, I spend close to half of my time in JB now, mind really at ease when I was there, many things we can't get in Sg, the huge space, so many good food, especially the 人情味, I totally understand how u feel, we are really happy to have another option, it's so accessible, do whatever that can make u happy, life is short, hope one day I will have a chance to say Hello to u in JB, all the best!
For medical treatmet, Mr Loo didn't mention the heavy medical subsidy (can be up to 80%) for Singaporeans seekimg treatments at polyclinics and public hospitals. Singaporeans can use medisave to pay medical bills. In addition, government MediFund will be tapped on when the poor Singaporeans cant affort to pay for even the subsidised treatment after using up their medisave money.
Tq for ur honest assessment. We do not need to live frugally on our retirement but at least b able to live comfortably n also b able to spend on simple luxuries without having to worry abt going hungry at the end of each month. This is a plan which is workable.
we welcome everyone from all part of this world to stay in Malaysia.. Malaysia is a nice and friendly country.. we have multi cultural and citizen; all live in peace and harmony,❤
hi Mr Loo, for retirement expenses, it should be inflated as well. Eg. A meal out today costs rm150, but assuming 2% inflation in 20yrs, that rm150 would be rm223. So instead of rm4,500 for a month.. it would cost rm6,700 with inflation. Definitely still within the rm32k budget that you have set out, but just thought the inflation factor is missing from the overall calculation. As always, good to hear your insights and appreciate your sharing.
Really appreciated your detailed presentation! I’m American rather than Singaporean, but my favorite part of the world is SE Asia, and I’m considering Malaysia as a retirement option for me and my Taiwanese wife. My first thought on your food presentation was, “Gee, I could spend a fraction of that on cheap hawker center options and be very very happy!” My second thought - “Glad that Malaysia is still retaining the kampung spirit that Singapore has been vanishing from Singapore in the 21st-century.” Cheers!
P.S. I would love to consider Singapore as a retirement possibility as well, but it’s not really an option for non-wealthy non-Singaporeans. It would be going from the most expensive place in the United States (Hawaii) to the most expensive place in SE Asia. So living across the border in JB, where I could visit Singapore frequently, seems highly desirable. Also considering Thailand. Would love to be able to consider Taiwan, where I met my life, worked and lived for twelve years, but Taiwan like Hawaii and Singapore has become unaffordable, at least in terms of real estate.
Singaporean retirees are “economic refugees !!!” How sad. At 70 years old you are thinking of food,cars and property. I am reaching 70 and these are furthest from my mind. It is family and friends first. So what if I take an MRT and eat hawker food everyday. It is still worth living in Singapore.
RM32K per month in Johor, you can live a very luxurious life in JB. 😊 You can live in a 7k to 10k thousand square feet bungalow, own 1 or 2 high-end Mercedes or BMW with a chauffeur or 2, 2 to 3 maids, and maybe own a yacht for sailing during holidays/weekends!
subscribed. thanks for straight forward and frank talk. My take is ONCE RTS starts the normal crowd will swell to 3x its size since its so "convenient" to go JB. Sg will be ghost town each weekend. will that happen? hahahaaaaa
Jb is getting expensive too. Most cost twice or 3 times as much in ringgit terms. Went hiking in kl once, didnt walk long and turned back because the motorcycle gang was staring at us, super scary
Meleka can potentially be a nice lower cost, safer choice albeit the longer distance from Sgp. My friend and myself were robbed in broad daylight in JB b4. I always watch my back whenever I am in jb. Once between twice shy
A fren who plans to retire in JB is pondering what he needs to do to rebuild his community of frens and stay healthy with all the time in hand. There are community activities in Singapore which are free and interesting. It may not be easy to find an equivalent in JB.
Actually if you travel between 10:30 am and 2 pm to and from JB the 2nd link iOS pretty clear on weekdays. Mon to Thursday during non or eve of public holidays.
agree with you totally as escalating cost of living will never end in Singapore as more and more migrants keep coming in to share limited space, land, medical care，infrastructure and national resources..property prices keep increasing may benefit earlier generations but their children will need to pay more and more to bear more debt for their gain. It never ends.
When the RTS starts, a lot of Singaporeans will do all their purchases in JB. Groceries, food and for some, even housing. Let's see how all our hawkers, and those in food business survive. S'pore is just way too expensive to live in.
With $9.2 monthly retirement fund,one can retire comfortably in Sg, with no mortgage to pay,no car payment n can forego buying another car when transportation is so convenient in Sg. Fixed expenditure is minimal too,kids already grown up n hv their own families. Mr Loo chose to retire in luxury in JB , he admitted that at $4.6 a month,it’s an OK living but NOT WELL living in Sg. It’s sad that after all these years of working n living frugally in Sg, one has to choose to retire overseas to live a life of retirement in luxury , many would retire in Sg frugally or within their means. Remember that’s only retirement fund n not otter savings or investment funds, so retiring comfortably well in Sg is achievable. Don’t forget one can just go poofed quickly after all these planing n not able to enjoy retirements. Stay healthy Mr Loo. Retirement living can be simple , why the rat race again in retirement?
As a Jb'ean, JB will get better, with better infrastructures coming up like RTS, IBD (Ibrahim Business District), more FDI is targeted to Johor itself to become an economic frontier in the south for Malaysia. The only way is up for Johor and hopefully Malaysia as a whole.
20years later, the exchange rate might be RM4 to S$1. Then he needs to time 4 for his and his wife monthly CPF life payout to get the monthly RM which is more than RM36,000
Mr Loo, very detail analysis of the costs of living in JB! I wanted to find out how to be certain of the CPF life payout amount. My husband & I have committed ERS to RA when we turned 55 years 4 & 2 years ago. When we check the payout amount in CPF website - it indicates $2100 or so - this is having $288,000 at 55 years in RA. The payout gap if you put in 4Xs vs 3Xs ($4600 vs $2100) seems too wide. Can you help me understand please?
😂 You're making it sound like Mr. Loo has converted to Islam, Sunat and now living in Malaysia. No country is perfect. Singapore also have too many flaws. Majority of the people there are are generally money minded and Singapore is also over developed. I wouldn't want 15 to 20 cameras to be recording me every day.
Some comments are done by robots.. I think your channel is targeted by robots Mr Loo. Names with some numbers at the back are highly likely to be robots or AI comments.
I think it depends on each individual. If you are middle income class where you cannot afford a comfortable life in Singapore, then staying in JB is definitely a good choice. However if you are better off living in Singapore then forget it. As a Malaysian, people always said Malaysia is not safe as Singapore, it depends on the area of residence. If you live in the high class area, definitely you will feel safe . There will be CCTV and security guards everywhere. Yet, most of the residents are the elite class .
Everything is a trade off - living in JB is an exchange of more disposal income with security and peace in Singapore. I would not trade off, just manged the expenses still doable😊
Not everyone is comfortable living outside their comfort zone. But Malaysia at lease the residence area where sporean chooses or afford to stay are generally safe with security patrols . As for robbery, I dun think there is a need to carry too much cash on hand. Trusts bank or YouTrip is E touch and go is enough.
Ask you're self why millions of Singaporeans are rushing into Malaysia during the weekend? Come on lah. Don't be so negative about Malaysia, you will lose a lot. Our past generations were mentor by British for more than 200 years.
Norway other Scandinavian countries are more expensive than UK and Switzerland, a property investment retirement plan that has passive income is better than living off savings. Yes, I’m my opinion everyone is welcome to spend their retirement in Malaysia and we welcome you all. I use to run hostels and many Nationalities stayed in my hostels living on their pensions.
Nice video on retirement in JB. One point not correct is that the Singaporean cannot sit in a Malaysian car bought by the him even though it is driven by a Malaysian. This is a check from LTA by a friend of mine!
As of today, the New MM2H yet to commence. Exact requirements also yet to be confirmed & endorsed by Msia Cabinet & circular released to Media / MM2H Agents. But the general consensus amongst interested parties are that there will be positive updates within the next 30days (Might even open up for New Applications). And also the income & proof of liquid funds requirements could be removed. No longer needed. But all this if confirmed will be under a special 1yr trial (2024) with up to maximum 15,000 applicants. 🤞🏻
Housing & Car are very expensive in Singapore. However, if you live in HDB and take public transport. It is relatively affordable. For a senior, a fixed monthly public transport fare is only costs only S$58 a month. You can travel every day all over Singapore , the costs of transport is only S$58 a month
If a millionaire spent whole life working hard, during old age with knee pain still need to walk so much to mrt and squeeze inside bus. You must be joking. In JB, he can even afford a driver and a luxury car.
Hi Loo, I think you forgot the fact that you can rent your house in Jurong East. Prudently speaking, probably upwards of $3000 sgd per month. Thats easily more than 10k rm into the pocket yet again.
Malaysia is our friendly neighbour,we can travel go around.There a lot of beautiful places to see.To settle down in Malaysia must really considered careful.A lot of issues, especially lack of security in that country
From Ku SY video & from 2021, no. of people reaching 65 > people starting work by 20,000. What does this mean to CPf? Will you get $4.6k as advertised? Answer is NO. Will the $4.6k change during the life? Why not? CPF can change the rules. Can you trust CPF ? You can answer yourself.
Singaporeans and Malaysians working in Singapore are fortunate because there is a beautiful country, Malaysia,with 330.8k sq km of space, for them to spend their money and enjoy a quality of life close to what they get in Singapore.
If Singapore the most expensive in the world mean many can afford to retire in Swizerland. We can afford to enjoy swiss standard of living at a fractionof the costs
I believe when we get older it is the energy that you got will diminish as time goes by and we won’t have much energy to be interested in finding new food to eat or go traveling to places. In fact you want familiar surroundings and convenient amenities around you like clinics, food center, community center and NTUC/Giants. Lastly you hope your children/grandchildren will come and visit you often to chit-chat or have a meal with you. Your needs and wants will dwindle as you age and energy slipping away so money isn’t going to be the first thing on your mind by then.
Should send this video to our Ministers. If even Mr Loo has thrown in the towel about retiring in Spore, how many more people are in a worse situation. Its sad how other countries media are labelling my country as a RICH MAN PLAYGROUND. Who want their country to become a playground for the rich while locals slog till retirement?
Hello Mr Loo 3 months ago my whole family and I moved to JB 😀😀😀...and the reasons were coincidentally the same exact reasons as in your video!!! As you said, our cost of living is now at least 50% less and quality has gone up 100%!!! We are now renting a super luxurious Gated and Guarded BRAND NEW 3 storey house @ Leisure Farm for SGD $1,100 per month....it is just ridiculous 😂😂😂..I mean for the price you can only rent a one bedroom in a HDB flat 😀. We hope we can meet up and share more about the luxurious retirement in JB 😀...
Brand new 3 storey house for only $1100 per month? Walao! This also means buying a house in JB is just wasting money, poor yield, slow capital appreciation, sell back in ringgit then change back to sgd dunno exchange rate can cover or not.
@@victorlim4948 😂😂😂 You do not even know the price of the house and you say the yield is low...you just demonstrated to the world how shallow your investment knowledge is and to top it off....just sour grapes at best. 😂😂😂
For the additional 240k to ERS when u reached 55, you would be better off placing this sum in S&P 500 until 70. The returns on average of 10% pa, on timely withdrawals (from 70)will be much better off to last you until 90/95… RA account stops paying interest after 65/70 when u start to withdraw… Staying in JB is a good idea, as long as we can manage security issues..
I’m Malaysian working in sg and used to commute from JB. Owning two properties there.. I was at one time bringing home 30k ringgit a month and living like a king in JB. That being said, I wouldn’t recommend retirement in Johor. And it’s not about the creature comforts or healthcare or retirement. Because retiring in Malaysia is absolutely a solid idea. No, it’s not because of that but about community and family is much more important at that age. You don’t have much more longer to live. You will want to spend that time serving your loved ones. And that’s the key to happiness. Serving your community and family that you’ve painstakingly built over the decades. Going to JB just to retire will take you away from that.
Mr Loo is just trying to show the government a perspective of a Singaporean who has no confidence to retire comfortably in Singapore, because the government suka suka shut down the SA and "humiliated" Mr Loo in a way. And it make sense too. It is really not a bad idea to retire in JB.
A sg friend fell down in JB. At hosp they collected money but for hours no treatment, when he finally decided to return to sg for treatment, they refused to return him his cash, and no receipt for him too,, at old age, health care is impt, if you are Singaporean you get didn't treatment. I prefer to stay in sg, esp if I have 9k a mth.. rush to and fro to JB .esp at 1am.pl lah, what for?
Easy and fast access to good medical help at old age is top priority, not restaurants or big cheap apartments or cheap cars (after 70, try driving daily). IMHO, this is where SG shines. Public transport is relatively affordable, very reliable, and very well planned and have extensive coverage and integration. And medical facilities are top notch and within a moments call/distance. For someone who can afford to max out CPF life payouts and also have additional income streams from investments, and seating on a reasonable cash buffer, living comfortably in SG in your golden years should not be an issue at all. I think its ok to try out JB retirement, but don't ever give up your residence in SG, because should you regret and decide to turn back, you won't be able to afford to buy back the same apartment lol. For more ordinary folks, if they take such advice, they might had to sell their HDB to move to JB, and there's no easy way of turning back.
Is really depend on what lifestyle you want for retirement. I certainly less well off than Mr Loo but i can live comfortably within 3k in SG. As what Mr Loo said. Many of his relatives live in JB. I think that's the key reason he chose JB. If they live in Batam, BKK or elsewhere, Mr Loo may live in those places instead of JB too. Hence don't follow Mr Loo blindly.
Your tao nao ho seh bo? If you are retiring in jb, you should be low profile and avoid making yourself a potential target for robbery. Remember that criminals watch RU-vid as well.
@@frankauerbach and I spend most of my time in Europe, so they must be very free to wait every day for me to arrive at my JB house for that few days that I choose to pop at my house in JB every year. And my Neighbors in Austin Heights are all far richer than I am. They must be out of their mind to target an elusive prey and empty house.
Yes..prices of houses in Malaysia is cheap and free hold. Those earn above SGD5000 in Singapore can buy 2 double storey landed property. Also, free hold.
@@1m65 Not a problem if there is investment plan for retirement is limited. Reason I stated this is bc I heard peoples sold their flats and bought house in JB in year 1998 - 2000. And when they wanted to come back and realised that not only exchange rate dropped , but the flats in SG sky rocketed. For your case, u are different as u already said u written off the austin height investment.
We are creatures of habit. If one has been frugal fr 70 years of his/her life. What certainty is there that suddenly at age 70, one will be willingly to suddenly spend luxuriously. My take at 50s in gd health, gd hair, gd looking as well. Gd fr luxurious living now, go fr it. 70 then put brakes on it!
