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 wrote: ↑Thu, 16 Sep 2021 11:51 amSingapore. 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.
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.Lisafuller wrote: ↑Thu, 16 Sep 2021 8:02 pmWow, 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 wrote: ↑Thu, 16 Sep 2021 11:51 amSingapore. 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.
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?smoulder wrote: ↑Thu, 16 Sep 2021 9:06 pmIt'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.Lisafuller wrote: ↑Thu, 16 Sep 2021 8:02 pmWow, 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 wrote: ↑Thu, 16 Sep 2021 11:51 amSingapore. 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.
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
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.Lisafuller wrote: ↑Thu, 16 Sep 2021 7:59 pmWe 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.
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 :malcontent wrote: ↑Thu, 16 Sep 2021 11:34 pmI have a lot of friends from India who always think they will retire in India… but as time goes on, they often think twice.
It’s a beautiful country, but the main city there, San José is a real dump and isn’t safe.
Healthcare was also mentioned. I guess as you get older, this becomes more top of mind.smoulder wrote: ↑Thu, 16 Sep 2021 11:39 pmI believe the major reasons would be :malcontent wrote: ↑Thu, 16 Sep 2021 11:34 pmI have a lot of friends from India who always think they will retire in India… but as time goes on, they often think twice.
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.
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