If fi, time and money is not a restriction, one could spend weeks if not months in tuscany, catalonia, provence, hokkaido, victoria, florida, cruise, etc, bottle of champagne for breakfast, bottle of white for lunch, bottle of pink for pre dinner, bottle of red for dinner, whisky for nigh cap, and travel on biz class will never get tire of travelling.

This post has been edited by icemanfx: Sep 14 2018, 08:42 AM

Yes, moving house is difficult when you are in a wheelchair!

And for most people, the desirable way to go is dying in one's own bed at home.

Be prepared to pay cash when buying a roof at senior age. This is when your longer term savings and EPF kicks in, and remember to allocate part of this money for this.

See it this way of not owning a house sooner in life, you are older and wiser at senior age, and won't be buying too much of a house and knows what you are looking for.

Secondly, in the recent years, there are specially build retirement homes for the elderly. And they only open to those age 60 and above. They are on long term lease... but the upfront deposit starts from 300k.

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Come to think of it, I think a retired senior could possibly earn a living as a travel blogger, go visiting all the retirement homes and communities. They are also called retirement villages. Both in the country and neighbouring countries in the Asean region, maybe including other Asian countries like Taiwan, China, India, Korea...

This post has been edited by j.passing.by: Sep 14 2018, 12:51 AM

You are probably quite young of age.

When you get older like me, your eyes will start to fail slowly (like difficulty to see in the dark and small characters are hard to decipher). Young girls at the shops call you 'uncle' instead of 'mister' - you know then you are moving along quite rapidly in age.

You will also be less inclined to be on social media like Facebook - 95% of my friends don't use Facebook and the 5% that do is usually coerced by their kids because they want to share family photos. (That is also the reason why my wife was asking me why i am spending so much time reading LYN).

Also when you get older, people tend to start pushing you aside (we become irrelevant to the younger society) and the only time we come relevant is when it is time for us to pay the bills . Social media is more a young man's outlet. I don't think many old folks can survive as a blogger (unless you are a wealthy financial guru talking about your success) and the last thing on a young person's mind will be retirement village !!

A young man, 61, just released a new book in recent days… Becoming Ageless… he’s a CEO of a major corporation… he explained his take on ‘ageless’... it is not about immortality or living forever.

“When I was a CEO at 29, people said I’m too young… now, they say I’m too old. You are either too young or too old…”

(I’m just quoting part of his interview… the book is on ways of staying healthy.)

My take on his remarks is not stereotyping your age. “Ageless” means without age and not putting an age tag on whatever you want to do.

One is never too young to quit working and fire your boss for good. And neither too old to begin and start on anything.

Don’t sell yourself short thinking that you are too young or too old.

Mind to share what is the title of the book? Sound like a good read

I googled and I think he was referring to this book,
“Becoming Ageless: The 4 Secrets To Looking And Feeling Younger Than Ever” by Strauss Zelnick.

It was really recent and the man is only 61 yo.

If you guys plan to RE, what would you do, instead? Travel? Part-time work? Volunteering in a charity? Join NGO?

Cool thank you very much

Don't get me wrong - i actually feel quite young at heart.

I look at myself in the mirror and i see a lot of grey hair (i color my hair black but there are a lot of parts where it is hard to color like around the ears so i just leave it as is) - i have even noticed a couple of grey strands on the eye-brows!! It is just that the body is slowing down a lot and we cannot do anything about it!! I even find it hard to get up after i squat down! These are things that makes us feel old. Like in winter here, i have to put a scarf around my neck when i get up in the morning!! I never used to have to do that in my 20/30s!! This is one of the reasons why i want to retire in Msia where it is a lot warmer. I prefer warm to cold (esp nowadays when i am older). Sydney (even though not very cold compared to Melb) is still a bit cold for older residents esp in winter.

Uncle Gary ah, can you state again briefly why you always said u wanted to retire in Malaysia but you still in Sydney oh? I think it is like this...I think it is because you do not want to give up PR (and the accompanying retirement and medical benefits) and your wife say it is easy money working there but you still like it more in Malaysia. What about your wife? Her preference is to stay where? And, you said you travel quite often to Malaysia also... is this arrangement good enough to satisfy your craving for Malaysia? Lol. I see that you are one confused uncle.. you are 一脚踏两船... (2 legs in different boats)...lol.... another concern is whether you have enough to retire in Malaysia which bro Showtime assures you that you have more than enough... so any changes to your plan now?

One simple question: do you have enough resources to spend half year in Malaysia (when winter in Sydney)and half year in Sydney or something like that? To meet PR requirements ...won't that be ideal?

He is not confused. Who are you to judge his plans and capabilities when it comes to where he wants to stay or retire. That is entirely up to him whether you like it or not. He already said he prefer to retire in Msia due to warm weather being his preference, but maybe he has to think about uprooting his entire family or such.

Whether or not he has enough resources to do what he wants, its his own matter, he is just sharing his own experience and past. Y

Here's a simple question for you : Can you update yourself on Australian PR Visa requirements before asking dumb questions like having to live in Sydney for half a year to maintain his visa?

Lol... chill bro... uncle Gary and me are buddies ...

Oh okay, then its fine. Lowyat has alot of sensitive people like me. Anyhow here's PR requirement for you knowledge https://australmigrate.com/australian-pr-benefits/

When you are FI or as actually as people feel awkward of acknowledging, rich - meaning that you are a successful person (good career or business). I think this is an even bigger motivation to the kids that if they work hard, they too can achieve something of that status.

Those that laze around at home , not doing anything - they are not FI. They are just bums who think they can get through the rest of their life on that little savings they saved up.

This post has been edited by cfkoon: Sep 14 2018, 12:20 PM

If time and money is not a restriction, one could spend weeks if not months in tuscany, catalonia, provence, hokkaido, victoria, florida, cruise, etc, bottle of champagne for breakfast, bottle of white for lunch, bottle of pink for pre dinner, bottle of red for dinner, whisky for nigh cap, visit world heritage sites, top 50 dive sites, top 50 restaurant, theatres in soho and Broadway, sailing, etc. There won't be enough time.

This post has been edited by icemanfx: Sep 14 2018, 01:36 PM

Actually both my wife and I prefer to live in Msia. I haven't gone back yet because the preservation age (when you can start accessing your super) for those born in 1962 is 57 which is next year. Both my wife and myself are born in 1962 so both of us can start drawing out our super next year. I would probably try living in KL next year and if we don't like it, we can always come back to Sydney. I have about 40+ weeks of long service leave (which can be taken on half pay to reduce the tax) so i plan to start taking my long service leave around July next year.

I can take close to 2 years (on half pay) of leave before i decide whether i want to return to my job. My wife loves KL (as all her relatives are in KL and she has no relatives in Sydney) and she will probably 'force' me to stay on even if i don't quite like it in KL . Even on half pay, i will still be getting about rm10k/mth which i calculate should be quite sufficient for both of us. I can draw down a little on my super if that is not enough. My wife also has rental from her 2 apartments in MK which will give her about rm6k/mth net. I suspect we probably won't need to draw on our super until i retire officially after i have exhausted all my leave and long service leave.

We can afford to spend 6mths every year in each country but i find life a lot more interesting in KL esp after retirement (and we have no children). Sydney can be very boring (even though we have plenty of friends here after having lived here for so long) in old age. You see a lot of lonely old people here.

Those concerned stock market could consider some European bank USD bonds for over 4% yield.

If you feel bore with plenty of friends in Sydney, you are unlikely to fare better in kl.

This post has been edited by icemanfx: Sep 14 2018, 02:34 PM

You are not getting the point. If you are really FI, you will have many source of income to keep yourself busy - instead of just "bumming" at home. Managing your finance at that stage can even take up alot of your time - besides that you will probably have lots of friends and partners in the business trade. That is what happens when you are truly FI.

If you are just bumming around yr home not doing anything - you are just RE, think you can barely be FI. If you think just "working" for 20 years is enough to be FI, think again.

I agree Sydney (even it being the most exciting city in Australia) and in general Australia, can be pretty boring at night. There's practically no night life! Malaysia definitely has more things to keep you busy with at night compared to Sydney.

I studied and stayed in Sydney for 4 years and I can only survive through because I had sports, uni friends who stayed nearby, and studies to keep me busy.

I believe even if Garysydney has friends, i think you meet them prob once a week or so, and at your age don't think you all can do much exciting activities right haha.