Where will you retire?

[malcontent]

Will you retire in Singapore or abroad?

Even for locals it is a popular idea to retire across the border in Malaysia, and the MM2H program has recently reopened. You can definitely get more bang for your buck.

Just the proceeds from selling a condo or flat here is often enough to fund a retirement in many parts of Asia.

That said, once you own a place in Singapore, the cost of living here can be quite low and it’s a good jumping off point for travel in the region or beyond.

For Western expats based here, Thailand seems to come up the most. Although Thailand has made it a little more difficult in recent times, they still have a fairly simple way to stay one year at a time with the O-visa, and despite all of the misinformation, unlike the OA-visa, the O-visa still doesn’t require health insurance or a deposit of any kind, all you really need is to show you transferred US$2k each month into a bank in Thailand.

So what are your plans?

[smoulder]

Singapore. We have our own apartment. Insurance policies are all Singapore ones. My wife was formerly Malaysian so it would be quite ironic if she was to move to Malaysia on an MM2H visa after letting go of her Malaysian passport!

By the way, about MM2H, they have revently revised the requirements in West Malaysia. You now have to earn 40 K rm /month and have to deposit 1.5 m rm in an fd to be eligible. Both are quite ridiculous and it's made many foreign retirees ineligible including those who are already there.

[malcontent]

Wow, I hadn’t really checked out the new MM2H requirements.

RM40k/mo income
Plus… RM1m deposit?
Plus… RM1.5 liquid assets offshore?

If someone has this kind of income and assets, why would they be interested in Malaysia?

They should differentiate the program based in the passport country. These kind of terms seem to be crafted for one country… China.

For top tier passports, I just don’t see it happening. Too many other options, for a whole lot less money.

[Lisafuller]

We see ourselves going back to the US when our daughter leaves for college next year. Not sure where exactly, will probably have something to do with where she decides to go.

[Lisafuller]

Singapore. We have our own apartment. Insurance policies are all Singapore ones. My wife was formerly Malaysian so it would be quite ironic if she was to move to Malaysia on an MM2H visa after letting go of her Malaysian passport!

By the way, about MM2H, they have revently revised the requirements in West Malaysia. You now have to earn 40 K rm /month and have to deposit 1.5 m rm in an fd to be eligible. Both are quite ridiculous and it's made many foreign retirees ineligible including those who are already there.

Wow, that seems pretty hard to hit for most retirees, I was under the impression that the reason why so many choose to settle there was because of the loose requirements.

[smoulder]

Singapore. We have our own apartment. Insurance policies are all Singapore ones. My wife was formerly Malaysian so it would be quite ironic if she was to move to Malaysia on an MM2H visa after letting go of her Malaysian passport!

By the way, about MM2H, they have revently revised the requirements in West Malaysia. You now have to earn 40 K rm /month and have to deposit 1.5 m rm in an fd to be eligible. Both are quite ridiculous and it's made many foreign retirees ineligible including those who are already there.

Wow, that seems pretty hard to hit for most retirees, I was under the impression that the reason why so many choose to settle there was because of the loose requirements.

It's near impossible for most retirees. I'm in a Facebook group with many western retirees who are already in Malaysia on the MM2H. Everyone who has commented said that they are going to become ineligible when they renew.

Well, I don't know why folks want to settle in Malaysia. Maybe it's the laid back lifestyle and wide usage of English.

To mals point that this seems to be to attract Chinese retirees. Maybe. Then again, I think Chinese who are trying to get out of China with that kind of money would probably try to buy property in Australia or Canada. Maybe it's like what most people who live in Malaysia think - it's just some incompetent idiots brain fart. Some folks do hope that this prata will flip

[sp786]

India obvious choice for me. In sinkie terms eh ceca retire in cecaland leh

[Lisafuller]

Singapore. We have our own apartment. Insurance policies are all Singapore ones. My wife was formerly Malaysian so it would be quite ironic if she was to move to Malaysia on an MM2H visa after letting go of her Malaysian passport!

By the way, about MM2H, they have revently revised the requirements in West Malaysia. You now have to earn 40 K rm /month and have to deposit 1.5 m rm in an fd to be eligible. Both are quite ridiculous and it's made many foreign retirees ineligible including those who are already there.

Wow, that seems pretty hard to hit for most retirees, I was under the impression that the reason why so many choose to settle there was because of the loose requirements.

It's near impossible for most retirees. I'm in a Facebook group with many western retirees who are already in Malaysia on the MM2H. Everyone who has commented said that they are going to become ineligible when they renew.

Well, I don't know why folks want to settle in Malaysia. Maybe it's the laid back lifestyle and wide usage of English.

To mals point that this seems to be to attract Chinese retirees. Maybe. Then again, I think Chinese who are trying to get out of China with that kind of money would probably try to buy property in Australia or Canada. Maybe it's like what most people who live in Malaysia think - it's just some incompetent idiots brain fart. Some folks do hope that this prata will flip

Pretty sure its because its like a cheaper Singapore, and more laid-back. 1 SGD now gets you 3 RM, who wouldn’t want to take advantage of that?

[Lisafuller]

India obvious choice for me. In sinkie terms eh ceca retire in cecaland leh

Not for me, since I don’t speak any of the (hundreds) of Indian languages. A beautiful country to visit though.

[malcontent]

We see ourselves going back to the US when our daughter leaves for college next year. Not sure where exactly, will probably have something to do with where she decides to go.

That is exactly what we are doing, except one year later than you! There are many good reasons for us to do this. In-state tuition for both of our kids should save us at least $500k alone. Saving two years fees at SAS will also be significant. Also, my wife is not currently covered under my social security if we live overseas, and we need to live 5 years in the US as a married couple in order for her to become eligible. Her eligible means our payments in retirement will be 50% higher, and if anything happens to be, she gets my full benefit the rest of her life. Because I’ve been paying social security in Singapore all these years, I expect to be close to the maximum benefit, so it is worth the trouble.

Once the kids are done with college and once I officially retire, I am not sure what we will do or where we will go from there. Who knows.

[smoulder]

How about Costa Rica?

[malcontent]

India obvious choice for me. In sinkie terms eh ceca retire in cecaland leh

I have a lot of friends from India who always think they will retire in India… but as time goes on, they often think twice.

[smoulder]

India obvious choice for me. In sinkie terms eh ceca retire in cecaland leh

I have a lot of friends from India who always think they will retire in India… but as time goes on, they often think twice.

I believe the major reasons would be :
1. Kids growing up outside India makes it harder for them to make that move.
2. The longer you spend outside, the more you feel that the place you left behind has changed. Especially among Indians, there is a tendency among NRIs - the longer they spend outside, the more the perception that things have become effed up back in India. Maybe it's because they just get more and more used to life outside.

[malcontent]

How about Costa Rica?

It’s a beautiful country, but the main city there, San José is a real dump and isn’t safe.

To be honest, I can’t really think of any countries in Latin America that really appeal to me in the same way that Asian countries do. Maybe I’ve been here too long? If I really had to, I’d probably choose somewhere in Mexico or the Caribbean.

[malcontent]

India obvious choice for me. In sinkie terms eh ceca retire in cecaland leh

I have a lot of friends from India who always think they will retire in India… but as time goes on, they often think twice.

I believe the major reasons would be :
1. Kids growing up outside India makes it harder for them to make that move.
2. The longer you spend outside, the more you feel that the place you left behind has changed. Especially among Indians, there is a tendency among NRIs - the longer they spend outside, the more the perception that things have become effed up back in India. Maybe it's because they just get more and more used to life outside.

Healthcare was also mentioned. I guess as you get older, this becomes more top of mind.