My dad retired when he was 43 with a family of 5. He then took the family over to Australia and retired there. 

As someone who witness his post retirement life, I will caution those who are retiring young without a proper post retirement plan.

First and foremost, retirement days are long and boring. After 1 year,  I could see my dad was bored out of his mind. He started to micro manage his 3 teenagers life, and needless to say he was major PITA and our relationship soured.

Secondly, it was very financially dangerous as he started to dabble with online gambling via trading stocks and CFD. Initially it paid off but soon after he began to lost alot of money. He then invested in a franchise, but that failed as well.

Thirdly he lost his mental sharpness as a result of the above. he was very successful when he was young and had accumulated alot of assets. However he lost a lot of money when he disposed of a few aluable assets just prior to the 2008 boom.

It is however not all doom and gloom la. His 3 kids went on to get almost full scholarships so he only spent less than 100k for their education. Each kid has 2 degrees so pretty good value there. All the kids are also self sufficient and reasonably successful in career, never needing money from him even when buying their first homes.

He is naturally a hawk so the retirement life didn't suit him at all. At 55 he went back to work full time and now runs 3 businesses.

For those who r good at investing (>8%), sspn returns might not be as good for long term (>10 years) even with tax relief of rm8000 and tax bracket of 25%. CMIIAW.
https://mypf.my/2017/05/11/should-you-invest-in-sspn/

Effective return for 25% annual rebate and 4% annual return is equivalent to 10% return per annum

https://terrencenotes.com/2019/07/30/how-to...e-in-singapore/

May look at the numbers in this post to see how you can achieve financial freedom by just converting their S$ to RM.

If you contribute RM8,000 pa for 10 years, at 4% annual return you get RM96,000 on 10th year.

Now with the relief you only pay RM6,000 pa for 10 years, but you will get RM96,000 on 10th year still - that’s 10% equivalent.

I don't quite understand his calculation but anyway,
MM2H by an ex-Malaysian converted to Singaporean. Is that possible?

Yes good  lelong props are there waiting for you to pick up.
You don't need much money, start with RM200k you can try it.
Imagine you buy  lelong LMC DS hse at RM48+k
rental RM450  already >9% pa.
best part is  in just 4 yrs can sell RM190k now
market price is RM210k.
often is the owner could not or did not pay his bank loan,
especially those LMC houses

I got one LC Flat at RM75k where the previous owner just keep collecting  rental RM450
never  pay his loan, just want cash did not want  the property
cheap or not you decide.....

In my portfolio- properties give the best returns
just on rentals alone 8-12%pa/buy cost.
imagine if add in price appreciation.

To qualify for bank private client need >$3m aum. According to wealth report, about 0.2% of adults in this country have >$1m net worth. Hence, less than 0.1% of adults in this country could become bank private client.

To qualify for bank private client need >$3m aum. According to wealth report, about 0.2% of adults in this country have >$1m net worth. Hence, less than 0.1% of adults in this country could become bank private client.

I think it's RM 3mil AUM with the same bank.

Bros,... you only put 3mil RM inside a bank iF the bank can help you make money or the bank has strong investment programs for you to participate in.

Or,... the bank gave your company a lot of loans and you have to please the bank like this.

Otherwise,... no need,....

Err,... I am not a PB client in Msia.

The "few percentage people" who plans and set to be financially independent as early as possible as opposed to those who seek to spend as much as they earn and carry a housing loan of 35 years or more.

It is a matter of the individual's opinion of what comes first, the chicken or the egg.

In this case, it is a matter to choose between being financially independent earlier by buying a cheaper house with a shorter loan tenure or finding the most expensive house to finance for many more years.

So, its is not "only a number of top people can afford to do so", it is a matter of personal choice if the person is earning slightly above average.

Low minimal wage earners, no need to say lah... they are living from hand to mouth and just making ends meet. And also those on pension plans... where they have to put in the required number of years to qualified for pension.

If you browse back the first several pages in this thread, there were mentions that the retirement savings can be as low as RM400k, provided of course the house is already fully paid off and truly debt free.

RM400k in EPF of approx. 6% interest/dividen is equivalent to RM24k per year, or RN2k a month, which is sufficient for some to live on the interest alone without touching the RM400k at all.

Hence, they can live off the interest for life and don't have to worry about  running out of money before they die.

So, if you can set an amount like RM600k and thinks it is sufficient for you to live on its interest alone, then it is a matter of personal choice. It dispels the notion that one has to have millions to retire early.

I think most medical policies that cover up to 100 now with the new BNM ruling that came effect since July 2019 that requires insurers to ensure that the policy is sustainable up to 100. So I have also bought a ILP with medical coverage up to RM 1.5mil annually. Reason I bought ILP instead of standalone medical card is the hope that the fund value is able to offset the increase in insurance cost in the future when I FI/RE. I do not want to over burden myself with insurance premiums when I get old later.

So if everything is constant, I only have to set aside RM400 per month for insurance premium, not going to affect my plan to FI/RE tremendously.

I have a rather morbid outlook on that, if you don’t mind me sharing:

My retirement chest of about $30,000,000 at present (almost equally proportioned into liquid asset classes - 55% in a mix of bonds, blue chips, index-tracked investments, cash and 45% in properties) should, in theory, outlast my wife and my life times (we are knocking on 50 years of age). This assuming we use $250,000 per year (and that’s an extraordinarily extravagant assumption, as even a detailed analysis at present pegs our everyday “running costs” at no more than $15,000 per month - including a more than generous $6,000 allowance for travels and holidays per month). Realistically, we can live on far less. This retirement sum does NOT include whatever I have in my superannuation in Australia or my CPF in Singapore. The latter will be used to pay for my medical insurance coverage.

We’re already 100% covered for major illnesses and hospitalisations - at least until 80 years of age.

So, if the amount lasts our lifetimes, good on me. I planned and executed it to perfection. I can take care of myself (and my wife).

If it doesn’t, and I’m flipping flat broke before I’m dead, no worries mate, the government will take care of me - because I’ll be retired in Australia.

Fingers crossed, it’ll be the former scenario.

Wander how the FIRE folks filing their tax if they retired with no active income.